Netflix annual free cash flow
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Netflix Free Cash Flow (FCF) History (NFLX)
Netflix reported $9.46B in free cash flow for fiscal 2025, an increase of 36.68% from the previous fiscal year, with a free cash flow margin of 20.94%.
View full Netflix company overviewNetflix free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $9.46B | $2.54B | +36.68% | +20.94% |
| 2024 | 2024-12-31 | $6.92B | −$3.9M | −0.06% | +17.75% |
| 2023 | 2023-12-31 | $6.93B | $5.31B | +327.90% | +20.54% |
| 2022 | 2022-12-31 | $1.62B | $1.75B | — | +5.12% |
| 2021 | 2021-12-31 | −$132.0M | −$2.06B | — | −0.44% |
| 2020 | 2020-12-31 | $1.93B | $5.07B | — | +7.72% |
| 2019 | 2019-12-31 | −$3.14B | −$285.9M | — | −15.58% |
| 2018 | 2018-12-31 | −$2.85B | −$895.2M | — | −18.07% |
| 2017 | 2017-12-31 | −$1.96B | −$377.6M | — | −16.76% |
| 2016 | 2016-12-31 | −$1.58B | −$741.0M | — | −17.91% |
| 2015 | 2015-12-31 | −$840.7M | −$787.4M | — | −12.40% |
| 2014 | 2014-12-31 | −$53.2M | −$96.9M | — | −0.97% |
| 2013 | 2013-12-31 | $43.7M | $62.4M | — | +1.00% |
| 2012 | 2012-12-31 | −$18.7M | −$286.7M | — | −0.52% |
| 2011 | 2011-12-31 | $268.0M | $25.5M | +10.50% | +8.36% |
| 2010 | 2010-12-31 | $242.6M | −$36.6M | −13.10% | +11.22% |
| 2009 | 2009-12-31 | $279.1M | $38.9M | +16.19% | +16.71% |
| 2008 | 2008-12-31 | $240.2M | $7.1M | +3.04% | +17.60% |
| 2007 | 2007-12-31 | $233.2M | — | — | +19.34% |
Netflix quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $1.53B | −$742.2M | −32.73% | +12.14% |
| Q1 2026 | 2026-03-31 | $5.09B | $2.43B | +91.44% | +41.59% |
| Q4 2025 | 2025-12-31 | $1.87B | $494.1M | +35.85% | +15.54% |
| Q3 2025 | 2025-09-30 | $2.66B | $466.2M | +21.25% | +23.11% |
| Q2 2025 | 2025-06-30 | $2.27B | $1.05B | +86.99% | +20.47% |
| Q1 2025 | 2025-03-31 | $2.66B | $524.1M | +24.53% | +25.24% |
| Q4 2024 | 2024-12-31 | $1.38B | −$203.2M | −12.85% | +13.45% |
| Q3 2024 | 2024-09-30 | $2.19B | $305.9M | +16.20% | +22.33% |
| Q2 2024 | 2024-06-30 | $1.21B | −$126.7M | −9.46% | +12.68% |
| Q1 2024 | 2024-03-31 | $2.14B | $20.1M | +0.95% | +22.80% |
| Q4 2023 | 2023-12-31 | $1.58B | $1.25B | +375.94% | +17.90% |
| Q3 2023 | 2023-09-30 | $1.89B | $1.42B | +300.21% | +22.11% |
| Q2 2023 | 2023-06-30 | $1.34B | $1.33B | +10418.85% | +16.36% |
| Q1 2023 | 2023-03-31 | $2.12B | $1.32B | +164.04% | +25.94% |
| Q4 2022 | 2022-12-31 | $332.3M | $901.5M | — | +4.23% |
| Q3 2022 | 2022-09-30 | $471.9M | $556.8M | — | +5.95% |
| Q2 2022 | 2022-06-30 | $12.7M | $186.8M | — | +0.16% |
| Q1 2022 | 2022-03-31 | $801.7M | $105.4M | +15.14% | +10.19% |
| Q4 2021 | 2021-12-31 | −$569.3M | −$283.2M | — | −7.38% |
| Q3 2021 | 2021-09-30 | −$84.9M | −$1.24B | — | −1.14% |
| Q2 2021 | 2021-06-30 | −$174.0M | −$1.07B | — | −2.37% |
| Q1 2021 | 2021-03-31 | $696.3M | $534.4M | +330.07% | +9.72% |
| Q4 2020 | 2020-12-31 | −$286.0M | $1.28B | — | −4.30% |
| Q3 2020 | 2020-09-30 | $1.15B | $1.70B | — | +17.93% |
| Q2 2020 | 2020-06-30 | $899.3M | $1.48B | — | +14.63% |
| Q1 2020 | 2020-03-31 | $161.9M | $602.1M | — | +2.81% |
| Q4 2019 | 2019-12-31 | −$1.57B | −$264.5M | — | −28.71% |
| Q3 2019 | 2019-09-30 | −$547.1M | $182.6M | — | −10.43% |
| Q2 2019 | 2019-06-30 | −$583.3M | −$37.8M | — | −11.85% |
| Q1 2019 | 2019-03-31 | −$440.2M | −$166.3M | — | −9.74% |
| Q4 2018 | 2018-12-31 | −$1.31B | −$795.6M | — | −31.17% |
| Q3 2018 | 2018-09-30 | −$729.7M | −$276.2M | — | −18.25% |
| Q2 2018 | 2018-06-30 | −$545.6M | $54.2M | — | −13.96% |
| Q1 2018 | 2018-03-31 | −$273.9M | $122.5M | — | −7.40% |
| Q4 2017 | 2017-12-31 | −$509.5M | $108.7M | — | −15.51% |
| Q3 2017 | 2017-09-30 | −$453.6M | $35.7M | — | −15.20% |
| Q2 2017 | 2017-06-30 | −$599.8M | −$362.7M | — | −21.53% |
| Q1 2017 | 2017-03-31 | −$396.4M | −$159.4M | — | −15.03% |
| Q4 2016 | 2016-12-31 | −$618.2M | −$360.6M | — | −24.95% |
| Q3 2016 | 2016-09-30 | −$489.3M | −$255.5M | — | −21.37% |
| Q2 2016 | 2016-06-30 | −$237.1M | −$28.2M | — | −11.26% |
| Q1 2016 | 2016-03-31 | −$237.0M | −$96.6M | — | −12.11% |
| Q4 2015 | 2015-12-31 | −$257.6M | −$203.6M | — | −14.13% |
| Q3 2015 | 2015-09-30 | −$233.8M | −$175.3M | — | −13.45% |
| Q2 2015 | 2015-06-30 | −$208.9M | −$245.0M | — | −12.70% |
| Q1 2015 | 2015-03-31 | −$140.4M | −$163.4M | — | −8.93% |
| Q4 2014 | 2014-12-31 | −$54.0M | −$72.3M | — | −3.63% |
| Q3 2014 | 2014-09-30 | −$58.5M | −$82.3M | — | −4.15% |
| Q2 2014 | 2014-06-30 | $36.2M | $10.3M | +39.84% | +2.70% |
| Q1 2014 | 2014-03-31 | $23.0M | $47.4M | — | +1.81% |
| Q4 2013 | 2013-12-31 | $18.3M | $53.7M | — | +1.56% |
| Q3 2013 | 2013-09-30 | $23.9M | $37.6M | — | +2.16% |
| Q2 2013 | 2013-06-30 | $25.9M | $9.8M | +61.11% | +2.42% |
| Q1 2013 | 2013-03-31 | −$24.4M | −$38.7M | — | −2.38% |
| Q4 2012 | 2012-12-31 | −$35.4M | −$90.2M | — | −3.74% |
| Q3 2012 | 2012-09-30 | −$13.7M | −$49.2M | — | −1.52% |
| Q2 2012 | 2012-06-30 | $16.0M | −$61.7M | −79.36% | +1.80% |
| Q1 2012 | 2012-03-31 | $14.3M | −$85.7M | −85.66% | +1.65% |
| Q4 2011 | 2011-12-31 | $54.8M | −$27.5M | −33.39% | +6.26% |
| Q3 2011 | 2011-09-30 | $35.5M | $566,000 | +1.62% | +4.31% |
| Q2 2011 | 2011-06-30 | $77.8M | $23.2M | +42.48% | +9.86% |
| Q1 2011 | 2011-03-31 | $100.0M | $29.2M | +41.22% | +13.92% |
| Q4 2010 | 2010-12-31 | $82.3M | −$1.1M | −1.32% | +13.81% |
| Q3 2010 | 2010-09-30 | $34.9M | −$33.4M | −48.94% | +6.31% |
| Q2 2010 | 2010-06-30 | $54.6M | −$13.8M | −20.17% | +10.50% |
| Q1 2010 | 2010-03-31 | $70.8M | $11.8M | +19.90% | +14.34% |
| Q4 2009 | 2009-12-31 | $83.4M | — | — | +18.76% |
| Q3 2009 | 2009-09-30 | $68.3M | $17.0M | +33.25% | +16.15% |
| Q2 2009 | 2009-06-30 | $68.4M | $15.7M | +29.69% | +16.74% |
| Q1 2009 | 2009-03-31 | $59.1M | — | — | +14.99% |
| Q3 2008 | 2008-09-30 | $51.3M | — | — | +15.02% |
| Q2 2008 | 2008-06-30 | $52.7M | — | — | +15.61% |
Netflix free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $1.93B to $9.46B, a compound annual growth rate of 37.44%. Netflix's latest reported quarter, Q2 2026, generated $1.53B in free cash flow, a decrease of 32.73% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
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