Netflix's Income Statement Analysis: Revenue to Profit Breakdown
Netflix's Income Statement Analysis: Revenue to Profit Breakdown
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FY21
Dec 31, 2021
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FY22
Dec 31, 2022
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FY23
Dec 31, 2023
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FY24
Dec 31, 2024
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FY25
Dec 31, 2025
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TTM
Trailing 12M
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Revenue
Total sales generated. |
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$29.70 B | $31.62 B | $33.72 B | $39.00 B | $45.18 B | $46.89 B |
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Cost of Revenue Direct cost of goods/services. |
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$17.33 B | $19.17 B | $19.72 B | $21.04 B | $23.28 B | $23.90 B |
Gross Profit Revenue minus cost of revenue. |
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$12.37 B | $12.45 B | $14.01 B | $17.96 B | $21.91 B | $22.99 B |
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Operating Expense
Costs to run business. |
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$6.17 B | $6.81 B | $7.05 B | $7.54 B | $8.58 B | $9.05 B |
Research and Development Investment in innovation. |
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$2.27 B | $2.71 B | $2.68 B | $2.93 B | $3.39 B | $3.53 B |
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Sales, General and Administrative
Selling and admin costs. |
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$3.90 B | $4.10 B | $4.38 B | $4.62 B | $5.19 B | $5.52 B |
General and Administrative Corporate overhead costs. |
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$1.35 B | $1.57 B | $1.72 B | $1.70 B | $1.89 B | $2.07 B |
Sales and Marketing Customer acquisition costs. |
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$2.55 B | $2.53 B | $2.66 B | $2.92 B | $3.30 B | $3.46 B |
Other Expenses Other operating costs. |
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- | - | - | - | - | - |
Operating Income Profit from operations. |
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$6.19 B | $5.63 B | $6.95 B | $10.42 B | $13.33 B | $13.94 B |
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Net Interest Income
Interest income minus expense. |
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-$354.41 M | -$368.90 M | -$748.60 M | -$451.96 M | - | $2.12 B |
Interest Income Income from investments. |
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$411.21 M | $337.31 M | - | $266.78 M | - | $2.97 B |
Interest Expense Cost of borrowing. |
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$765.62 M | $706.21 M | $748.60 M | $718.73 M | -$776.51 M | $854.42 M |
Non-Operating Income (ex-Int) Income outside core operations. |
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-$411.21 M | -$337.31 M | - | -$266.78 M | - | -$2.97 B |
Total Other Income (Net) Net non-operating items. |
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-$354.41 M | -$368.90 M | -$748.60 M | -$451.96 M | -$604.05 M | $2.12 B |
Income Before Tax Profit before taxes. |
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$5.84 B | $5.26 B | $6.21 B | $9.97 B | $12.72 B | $16.06 B |
Income Tax Expense Taxes on income. |
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$723.88 M | $772.01 M | $797.42 M | $1.25 B | -$1.74 B | $2.68 B |
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Net Income
Final profit. |
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$5.12 B | $4.49 B | $5.41 B | $8.71 B | $10.98 B | $13.37 B |
Net Income From Continuing Operations Profit from core business. |
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$5.12 B | $4.49 B | $5.41 B | $8.71 B | - | $13.37 B |
Net Income From Discontinued Operations Profit/loss from sold units. |
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- | - | - | - | - | - |
Other Adjustments to Net Income Additional accounting adjustments. |
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- | - | - | - | - | - |
Net Income Deductions Reductions from net income. |
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- | - | - | - | - | - |
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Earnings Per Share
Company profit allocated to each outstanding share. |
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EPS Earnings per share. Formula: Net Income ÷ Shares |
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$11.55 | $10.10 | $12.25 | $20.28 | $2.58 | $3.16 |
Diluted EPS EPS including dilution. Formula: Net Income ÷ Diluted Shares |
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$11.24 | $9.95 | $12.03 | $19.83 | $2.53 | $3.10 |
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Shares for EPS
Number of shares used to calculate EPS. |
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Weighted Average Shares Outst. Avg shares used for EPS. |
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443.16 M | 444.70 M | 441.57 M | 429.52 M | 4.25 B | 4.22 B |
Diluted Average Shares Outst. Shares including dilution. |
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455.37 M | 451.29 M | 449.50 M | 439.26 M | 4.34 B | 4.30 B |
| Supplemental Items | |||||||
EBIT Earnings before interest and tax. |
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$6.61 B | $5.97 B | $6.95 B | $10.68 B | - | $16.91 B |
EBITDA Earnings before interest, tax, D&A. |
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$19.04 B | $20.33 B | $21.51 B | $26.31 B | $13.33 B | $34.08 B |
Depreciation and Amortization Non-cash expense for assets. |
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$12.44 B | $14.36 B | $14.55 B | $15.63 B | - | $17.17 B |
| Company Report |
Netflix's Assets vs Liabilities & Equity
Netflix's Assets vs Liabilities & Equity
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