Netflix Inc (NFLX) stock
NFLXNasdaqServices-Video Tape RentalFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 21, 2026Score 20/3033% below fair value
$62.15−0.54 (-0.86%)
Close on Nov 13, 2026Market cap $255.21BP/E 18.0Yield –
Netflix operating margin
Operating margin is operating income as a percentage of revenue.
Netflix's operating margin for the twelve months ending Sep 30, 2026 was 31.3%. For fiscal 2025 it was 29.5%, against 26.7% the year before. The highest annual figure on record is 29.5% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 29.5% | +2.8 |
| FY2024 | Dec 31, 2024 | 26.7% | +6.1 |
| FY2023 | Dec 31, 2023 | 20.6% | +2.8 |
| FY2022 | Dec 31, 2022 | 17.8% | −3.0 |
| FY2021 | Dec 31, 2021 | 20.9% | +2.5 |
| FY2020 | Dec 31, 2020 | 18.3% | +5.4 |
| FY2019 | Dec 31, 2019 | 12.9% | +2.8 |
| FY2018 | Dec 31, 2018 | 10.2% | +3.0 |
| FY2017 | Dec 31, 2017 | 7.2% | +2.9 |
| FY2016 | Dec 31, 2016 | 4.3% | −0.2 |
| FY2015 | Dec 31, 2015 | 4.5% | −2.8 |
| FY2014 | Dec 31, 2014 | 7.3% | +2.1 |
| FY2013 | Dec 31, 2013 | 5.2% | +3.8 |
| FY2012 | Dec 31, 2012 | 1.4% | −10.4 |
| FY2011 | Dec 31, 2011 | 11.7% | −1.4 |
| FY2010 | Dec 31, 2010 | 13.1% | +1.6 |
| FY2009 | Dec 31, 2009 | 11.5% | +2.6 |
| FY2008 | Dec 31, 2008 | 8.9% | +1.3 |
| FY2007 | Dec 31, 2007 | 7.6% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 34.6% | +6.4 |
| Q2 FY2026 | Jun 30, 2026 | 33.4% | −0.7 |
| Q1 FY2026 | Mar 31, 2026 | 32.3% | +0.6 |
| Q4 FY2025 | Dec 31, 2025 | 24.5% | +2.4 |
| Q3 FY2025 | Sep 30, 2025 | 28.2% | −1.4 |
| Q2 FY2025 | Jun 30, 2025 | 34.1% | +6.8 |
| Q1 FY2025 | Mar 31, 2025 | 31.7% | +3.7 |
| Q4 FY2024 | Dec 31, 2024 | 22.2% | +5.2 |
| Q3 FY2024 | Sep 30, 2024 | 29.6% | +7.2 |
| Q2 FY2024 | Jun 30, 2024 | 27.2% | +4.9 |
| Q1 FY2024 | Mar 31, 2024 | 28.1% | +7.1 |
| Q4 FY2023 | Dec 31, 2023 | 16.9% | +9.9 |
| Q3 FY2023 | Sep 30, 2023 | 22.4% | +3.1 |
| Q2 FY2023 | Jun 30, 2023 | 22.3% | +2.5 |
| Q1 FY2023 | Mar 31, 2023 | 21.0% | −4.1 |
| Q4 FY2022 | Dec 31, 2022 | 7.0% | −1.2 |
| Q3 FY2022 | Sep 30, 2022 | 19.3% | −4.1 |
| Q2 FY2022 | Jun 30, 2022 | 19.8% | −5.4 |
| Q1 FY2022 | Mar 31, 2022 | 25.1% | −2.3 |
| Q4 FY2021 | Dec 31, 2021 | 8.2% | −6.2 |
| Q3 FY2021 | Sep 30, 2021 | 23.5% | +3.0 |
| Q2 FY2021 | Jun 30, 2021 | 25.2% | +3.1 |
| Q1 FY2021 | Mar 31, 2021 | 27.4% | +10.7 |
| Q4 FY2020 | Dec 31, 2020 | 14.4% | +6.0 |
| Q3 FY2020 | Sep 30, 2020 | 20.4% | +1.7 |
| Q2 FY2020 | Jun 30, 2020 | 22.1% | +7.7 |
| Q1 FY2020 | Mar 31, 2020 | 16.6% | +6.5 |
| Q4 FY2019 | Dec 31, 2019 | 8.4% | +3.2 |
| Q3 FY2019 | Sep 30, 2019 | 18.7% | +6.7 |
| Q2 FY2019 | Jun 30, 2019 | 14.3% | +2.5 |
| Q1 FY2019 | Mar 31, 2019 | 10.2% | −1.9 |
| Q4 FY2018 | Dec 31, 2018 | 5.2% | −2.3 |
| Q3 FY2018 | Sep 30, 2018 | 12.0% | +5.0 |
| Q2 FY2018 | Jun 30, 2018 | 11.8% | +7.2 |
| Q1 FY2018 | Mar 31, 2018 | 12.1% | +2.3 |
| Q4 FY2017 | Dec 31, 2017 | 7.5% | +1.3 |
| Q3 FY2017 | Sep 30, 2017 | 7.0% | – |
| Q2 FY2017 | Jun 30, 2017 | 4.6% | – |
| Q1 FY2017 | Mar 31, 2017 | 9.7% | – |
| Q4 FY2016 | Dec 31, 2016 | 6.2% | – |
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