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Netflix is the largest subscription streaming service, producing and licensing film and television content for a global audience.
For the fiscal year ended December 31, 2025, Netflix, Inc. reported revenue of $45.2B and net income of $11.0B, with operating cash flow of $10.1B. Source: Form 10-K filed January 23, 2026
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
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It has added an advertising tier and cracked down on password sharing to widen its subscriber base.
Reported figures from Netflix, Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $45.2B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $11.0B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $10.1B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $2.53 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 24.3% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 4.22B | As of 2025-12-31 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
For Netflix, Inc., the most important recurring operating and market variables are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
Streaming revenue rose 16% to $45.2 billion in 2025, which the 10-K attributes to membership growth, price increases, and higher advertising revenue, partly offset by currency. The company stopped reporting membership numbers in 2025, so use the regional revenue table in Item 7 and constant-currency growth of 17% as the primary gauges.
Operating margin expanded to 29.5% in 2025 from 26.7%, with operating income of $13.3 billion and audited net income of $11.0 billion, or $2.53 per share after the November 2025 stock split. Item 1 says the strategy is to grow within an operating margin target; watch content amortization against revenue for the trade-off.
Item 1A states the company has limited experience selling advertising and that ad revenue may not grow as expected, even as ads are cited as a 2025 revenue driver. Look for disclosures on ad-tier plan mix, pricing, and measurement partners to judge how quickly advertising can matter against $45.2 billion of subscription-led revenue.
On December 4, 2025 Netflix agreed to acquire WBD's streaming and studios businesses, including HBO Max and HBO, in a deal amended January 19, 2026 and backed by bridge and term-loan facilities. Item 1A includes dedicated risk factors on completion, timing, and integration; read Note disclosures on indebtedness and content obligations.
Operating cash flow was $10.1B, 0.92 times net income of $11.0B, for the fiscal year ended December 31, 2025.
Cash from operations trailed reported earnings. Working-capital build (receivables, inventory, prepayments) or non-cash gains are the usual reasons; check the cash-flow statement before relying on reported profit.
Net income was 24.3% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Cleo Fields | 2026-09-14 | Purchase | Self | $1,001 - $15,000 | Filing #20035464 |
| Byron Donalds | 2026-08-12 | Purchase | Spouse | $1,001 - $15,000 | Filing #20035420 |
| Byron Donalds | 2026-08-12 | Purchase | Self | $1,001 - $15,000 | Filing #20035420 |
| Cory Booker | 2026-08-11 | Sale | Spouse | $1,001 - $15,000 | Filing #e5144197-e49c-4f74-bec4-19f1f3124668 |
| Alan Armstrong | 2026-03-27 | Purchase | Self | $15,001 - $50,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| Byron Donalds | 2026-03-20 | Purchase | Self | $1,001 - $15,000 | Filing #20034297 |
| Byron Donalds | 2026-03-20 | Purchase | Spouse | $1,001 - $15,000 | Filing #20034297 |
| Angus King | 2026-02-13 | Sale | Spouse | $1,001 - $15,000 | Filing #09b9c1ed-1d73-4f17-b6f8-7b2d92021c5b |
| Cleo Fields | 2026-01-20 | Purchase | Self | $50,001 - $100,000 | Filing #20033858 |
| John Boozman | 2026-01-08 | Purchase | Joint | $1,001 - $15,000 | Filing #135ebfe9-099e-4d58-ba46-f739b90d61da |
All verified NFLX congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Netflix is the largest subscription streaming service, producing and licensing film and television content for a global audience.
For the fiscal year ended December 31, 2025, Netflix, Inc. reported revenue of $45.2B and net income of $11.0B, with operating cash flow of $10.1B. The figures come from Netflix, Inc.'s SEC XBRL filings.
The SEC lists Netflix, Inc.'s fiscal year end as December 31.
The current verified House and Senate snapshot contains 52 transaction rows for NFLX, each linked to the original filing.
Netflix, Inc. is headquartered in Los Gatos, California and was founded in 1997.
This page does not rate NFLX as a buy or sell. It sets out what Netflix, Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.
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