$157.2 B

NFLX Mkt cap, 20-Jul-2018

$7.6 B

Netflix Revenue Q2, 2018
Netflix Gross profit (Q2, 2018)3.1 B
Netflix Gross profit margin (Q2, 2018), %41%
Netflix Net income (Q2, 2018)674.5 M
Netflix EBIT (Q2, 2018)908.8 M
Netflix Cash, 30-Jun-20183.9 B
Netflix EV161.7 B

Netflix Revenue

Netflix revenue was $11.69 b in FY, 2017 which is a 32.4% year over year increase from the previous period.

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Netflix Revenue Breakdown

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Netflix revenue breakdown by business segment: 43.5% from International Streaming , 52.6% from Domestic Streaming and 3.9% from Other

Netflix revenue breakdown by geographic segment: 9.2% from International and 90.8% from United States

Netflix Income Statement


USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017


4.4 b5.5 b6.8 b8.8 b11.7 b

Revenue growth, %


Cost of goods sold

3.1 b3.8 b4.6 b6 b7.7 b

Gross profit

1.3 b1.8 b2.2 b2.8 b4 b

Gross profit Margin, %


Sales and marketing expense

503.9 m607.2 m824.1 m991.1 m1.3 b

R&D expense

378.8 m472.3 m650.8 m852.1 m1.1 b

General and administrative expense

180.3 m269.7 m407.3 m577.8 m863.6 m

Operating expense total

1.1 b1.3 b1.9 b2.4 b3.2 b


228.3 m402.6 m305.8 m379.8 m838.7 m

EBIT margin, %


Interest expense

29.1 m50.2 m132.7 m150.1 m238.2 m

Interest income

3 m3.1 m31.2 m30.8 m115.2 m

Pre tax profit

171.1 m349.4 m141.9 m260.5 m485.3 m

Income tax expense

58.7 m82.6 m19.2 m73.8 m(73.6 m)

Net Income

112.4 m266.8 m122.6 m186.7 m558.9 m


USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018


1.3 b1.3 b1.4 b1.6 b1.6 b1.7 b2 b2.1 b2.3 b2.6 b2.8 b3 b3.7 b7.6 b

Cost of goods sold

869.2 m914.8 m954.4 m1 b1.1 b1.2 b1.4 b1.5 b1.5 b1.7 b1.9 b2 b2.2 b4.5 b

Gross profit

400.9 m425.6 m455 m526.7 m522.9 m564.4 m588.2 m632.1 m757.3 m979.6 m883.2 m991.9 m1.5 b3.1 b

Gross profit Margin, %


Sales and marketing expense

137.1 m120.8 m145.7 m194.7 m197.1 m208.1 m208 m216 m282 m271.3 m274.3 m312.5 m479.2 m1 b

R&D expense

110.3 m115.2 m121 m143.1 m155.1 m171.8 m203.5 m207.3 m216.1 m257.1 m267.1 m255.2 m300.7 m617.9 m

General and administrative expense

55.9 m60 m78 m91.5 m95.9 m110.9 m127.2 m138.4 m153.2 m194.3 m213.9 m215.5 m278.3 m589.4 m

Operating expense total

303.3 m296 m344.6 m429.3 m448.1 m490.8 m538.7 m561.7 m651.3 m722.7 m755.3 m783.3 m1.1 b2.2 b


97.6 m129.6 m110.4 m97.5 m74.8 m73.6 m49.5 m70.4 m106 m256.9 m127.8 m208.6 m446.6 m908.8 m

EBIT margin, %


Interest expense

10.1 m13.3 m13.5 m26.7 m35.2 m35.3 m35.5 m35.5 m35.5 m46.7 m55.5 m60.7 m81.2 m182.8 m

Interest income

1.4 m1.1 m616 k32.3 m872 k3.9 m26 m16.3 m8.6 m13.6 m58.4 m31.7 m65.7 m2.3 m

Pre tax profit

38.4 m117.4 m97.5 m38.4 m40.5 m42.2 m39.9 m51.2 m79.1 m223.8 m14 m116.2 m299.6 m728.3 m

Income tax expense

14.7 m46.4 m38.2 m14.7 m14.2 m12.8 m12.2 m10.5 m27.6 m45.6 m(51.6 m)(13.4 m)9.5 m53.8 m

Net Income

23.7 m71 m59.3 m23.7 m26.3 m29.4 m27.7 m40.8 m51.5 m178.2 m65.6 m129.6 m290.1 m674.5 m

Netflix Balance Sheet


USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017


605 m1.1 b1.8 b1.5 b2.8 b

Current Assets

3.1 b3.9 b5.4 b5.7 b7.7 b


133.6 m149.9 m173.4 m250.4 m319.4 m

Total Assets

5.4 b7.1 b10.2 b13.6 b19 b

Accounts Payable

108.4 m201.6 m253.5 m312.8 m359.6 m

Current Liabilities

2.2 b2.7 b3.5 b4.6 b5.5 b

Long-term debt

500 m900 m2.4 b3.4 b6.5 b

Total Debt

500 m900 m2.4 b3.4 b6.5 b

Total Liabilities

4.1 b5.2 b8 b10.9 b15.4 b

Additional Paid-in Capital

777.4 m1 b

Retained Earnings

552.5 m819.3 m941.9 m1.1 b1.7 b

Total Equity

1.3 b1.9 b2.2 b2.7 b3.6 b

Debt to Equity Ratio

0.4 x0.5 x1.1 x1.3 x1.8 x

Debt to Assets Ratio

0.1 x0.1 x0.2 x0.2 x0.3 x

Financial Leverage

4.1 x3.8 x4.6 x5.1 x5.3 x

Netflix Cash Flow


USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

112.4 m266.8 m122.6 m186.7 m558.9 m

Depreciation and Amortization

48.4 m54 m62.3 m57.5 m71.9 m

Accounts Payable

18.4 m83.8 m51.6 m32.2 m74.6 m

Cash From Operating Activities

97.8 m16.5 m(749.4 m)(1.5 b)(1.8 b)

Purchases of PP&E

(54.1 m)(69.7 m)(91.2 m)(107.7 m)(173.3 m)

Cash From Investing Activities

(256 m)(42.9 m)(179.2 m)49.8 m34.3 m

Cash From Financing Activities

476.3 m541.7 m1.6 b1.1 b3.1 b

Net Change in Cash

314.7 m508.6 m695.7 m(341.8 m)1.4 b

Interest Paid

19.1 m41.1 m111.8 m138.6 m213.3 m

Income Taxes Paid

7.5 m50.6 m27.7 m26.8 m113.6 m

Netflix Ratios

USDY, 2018


177.9 x


-214.1 x

Financial Leverage

5 x
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Netflix Operating Metrics

Netflix's Customers was reported to be 125 m in Q1, 2018.
FY, 2013Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018


44.35 m48.36 m50.05 m53.06 m57.39 m62.27 m65.55 m69.17 m74.76 m81.50 m83.18 m86.74 m93.80 m98.75 m103.95 m109.25 m117.58 m125 m

Paying Customers

41.43 m46.13 m47.99 m50.65 m54.48 m59.62 m62.71 m66.02 m70.84 m77.71 m79.90 m83.28 m89.09 m94.36 m99.04 m104.02 m110.64 m125 m

Customers (US)

33.42 m35.67 m36.24 m37.22 m39.11 m41.40 m42.30 m43.18 m44.74 m46.97 m47.13 m47.50 m49.43 m50.85 m51.92 m52.77 m54.75 m56.71 m

Paying Customers (US)

31.71 m34.38 m35.24 m36.27 m37.70 m40.32 m41.06 m42.07 m43.40 m45.71 m46 m46.48 m47.91 m49.38 m50.32 m51.35 m52.81 m55.09 m

Customers (International)

10.93 m12.68 m13.80 m15.84 m18.23 m20.88 m23.25 m25.99 m30.02 m34.53 m36.05 m39.25 m44.37 m47.89 m52.03 m56.48 m62.83 m68.29 m

Paying Customers (International)

9.72 m11.76 m12.91 m14.39 m16.78 m19.30 m21.65 m23.95 m27.44 m31.99 m33.89 m36.80 m41.19 m44.99 m48.71 m52.68 m57.83 m63.82 m

Customers (DVD Segment, US)

6.93 m6.65 m6.26 m5.99 m5.77 m5.56 m5.21 m5.06 m4.90 m4.74 m4.53 m4.27 m4.11 m3.94 m3.76 m3.57 m3.38 m3.17 m

Paying Customers (DVD Segment, US)

6.77 m6.51 m6.17 m5.90 m5.67 m5.47 m5.22 m4.97 m4.79 m4.65 m4.44 m4.19 m4.03 m3.87 m3.69 m3.52 m3.33 m3.14 m

Average Monthly Revenue per Subscriber

$8.10 $8.20 $8.18 $8.07 $8.19 $8.15 $8.14 $8.32 $8.82 $8.61 $9.14 $9.21 $9.44 $9.43 $10.46

Average Monthly Revenue per Subscriber (DVD)

$10.25 $10.26 $10.24 $10.31 $10.29 $10.37 $10.23 $10.31 $10.30 $10.23 $10.18 $10.23 $10.22 $10.16 $10.12 $10.19 $10.17 $10.18


40 40 40 50 50 50 50 50 190 190 190 190 190 190 190 190 190 190

Daily Video Watch Time, hours

100 m100 m100 m125 m125 m125 m125 m125 m125 m125 m125 m140 m140 m
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Netflix Human Capital

Netflix's employees are reported to be approximately 44% female and 56% male.


Q2, 2018Q1, 2018
Asian12.6 %24 %
White24.6 %49 %
Hispanic 35.2 %
Black20.1 %
Other7.5 %21 %
Hispanic6 %


Q2, 2018Q1, 2018
Female44 %43 %
Male56 %57 %

Job Roles

Q1, 2018
Male Engineers, percent73 %
Female Engineers, percent27 %
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