Netflix (NFLX) Capital Expenditures (2009 - 2026)
Netflix (NFLX) recorded Capital Expenditures of $278.77 million in Q3 2026, up 69.2% from $164.72 million a year earlier and up 27.5% from the prior quarter.
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Analysis
Netflix (NFLX) Capital Expenditures (2009 - 2026) Analysis & Trends
On a TTM basis, Netflix's Capital Expenditures came in at $932.88 million as of Sep 30, 2026, up 53.5% year-over-year; for FY2025, it came in at $688.22 million, up 56.6% from FY2024.
- Annual Capital Expenditures has a five-year compound annual growth rate of 6.7% (FY2020 to FY2025).
- Across earlier years, Capital Expenditures came in at $439.54 million in FY2024 (+26.1%), $348.55 million in FY2023 (-14.5%), $407.73 million in FY2022 (-22.3%) and $524.59 million in FY2021 (+5.4%).
- The Q3 2026 figure is the highest quarterly Capital Expenditures in data going back to Q1 2009.
- On a year-over-year basis, Capital Expenditures has increased for nine consecutive quarters, with growth averaging 63.2% over the last eight quarters.
- Peak year-over-year performance for Capital Expenditures in the last five years was growth of 99.1% in Q2 2025, against a decline of 49.2% in Q3 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $218.64 million (Q2 2026), $196.13 million (Q1 2026) and $239.34 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,555.16 Bn | 3,290.06 Bn | 76.16 Bn | 51.36 Bn |
| 2 | Meta Platforms | 1,645.02 Bn | 1,309.54 Bn | 51.23 Bn | 33.94 Bn |
| 3 | Netflix | 259.98 Bn | 221.27 Bn | 6.80 Bn | 278.77 Mn |
| 4 | Alibaba Group Holding | 242.36 Bn | 241.21 Bn | - | - |
| 5 | Shopify | 192.37 Bn | 171.18 Bn | 1.78 Bn | 2.00 Mn |
| 6 | Uber Technologies | 142.90 Bn | 113.72 Bn | 6.42 Bn | 104.00 Mn |
| 7 | AppLovin | 130.75 Bn | 119.27 Bn | 1.94 Bn | - |
| 8 | Spotify Technology | 122.74 Bn | 105.49 Bn | - | - |
| 9 | Booking Holdings | 122.04 Bn | 55.79 Bn | - | 68.00 Mn |
| 10 | PDD Holdings | 111.67 Bn | 111.67 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 278.77 Mn |
| Jun 30, 2026 | 218.64 Mn |
| Mar 31, 2026 | 196.13 Mn |
| Dec 31, 2025 | 239.34 Mn |
| Sep 30, 2025 | 164.72 Mn |
| Jun 30, 2025 | 155.89 Mn |
| Mar 31, 2025 | 128.28 Mn |
| Dec 31, 2024 | 158.67 Mn |
| Sep 30, 2024 | 126.86 Mn |
| Jun 30, 2024 | 78.29 Mn |
| Mar 31, 2024 | 75.71 Mn |
| Dec 31, 2023 | 81.63 Mn |
| Sep 30, 2023 | 103.93 Mn |
| Jun 30, 2023 | 100.97 Mn |
| Mar 31, 2023 | 62.02 Mn |
| Dec 31, 2022 | 111.59 Mn |
| Sep 30, 2022 | 84.96 Mn |
| Jun 30, 2022 | 90.02 Mn |
| Mar 31, 2022 | 121.16 Mn |
| Dec 31, 2021 | 165.98 Mn |
API Access
Netflix Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "NFLX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();