Netflix (NFLX) Cost of Revenue (2009 - 2026)
Netflix (NFLX) posted quarterly Cost of Revenue of $6.0 billion for Q2 2026, up 13.36% year-over-year from $5.3 billion in Q2 2025, and up 2.53% quarter-over-quarter from $5.9 billion in Q1 2026.
Netflix (NFLX) Cost of Revenue (2009 - 2026) Analysis & Trends
Netflix's Cost of Revenue history runs 18 years deep, the most recent figure standing at $6.0 billion for Q2 2026.
- In Q2 2026, Cost of Revenue rose 13.36% year-over-year to $6.0 billion; the TTM figure through Jun 2026 stood at $24.6 billion (up 14.6% YoY), while the FY2025 annual figure was $23.3 billion, up 10.63% from the prior year.
- Cost of Revenue for Q2 2026 stood at $6.0 billion, up from $5.9 billion in the prior quarter.
- The five-year high for Cost of Revenue was $6.5 billion in Q4 2025, with the low at $556.0 million in Q1 2022.
- The 5-year median for Cost of Revenue is $5.2 billion (2024), against an average of $4.6 billion.
- The sharpest annual moves came in 2023 and 2024: Cost of Revenue slumped 88.33% in 2023, then soared 816.33% in 2024.
- Netflix's Cost of Revenue stood at $5.4 billion in 2022, then fell by 1.79% to $5.3 billion in 2023, then gained by 8.66% to $5.8 billion in 2024, then increased by 13.1% to $6.5 billion in 2025, then slipped by 7.45% to $6.0 billion in 2026.
- Business Quant data shows NFLX's Cost of Revenue at $6.0 billion in Q2 2026, $5.9 billion in Q1 2026, and $6.5 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 6.04 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 13.67 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 4.62 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 5.72 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | - |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 605.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 680.99 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - | - |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 556.12 Mn |
| 10 | Paramount Skydance | 11.45 Bn | 8.18 Bn | -2.08 Bn | -3.82 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.04 Bn |
| Jun 30, 2026 | 6.04 Bn |
| Mar 31, 2026 | 5.89 Bn |
| Mar 31, 2026 | 5.89 Bn |
| Dec 31, 2025 | 6.52 Bn |
| Dec 31, 2025 | 6.52 Bn |
| Sep 30, 2025 | 6.16 Bn |
| Sep 30, 2025 | 6.16 Bn |
| Jun 30, 2025 | 5.33 Bn |
| Jun 30, 2025 | 5.33 Bn |
| Mar 31, 2025 | 5.26 Bn |
| Mar 31, 2025 | 5.26 Bn |
| Dec 31, 2024 | 5.77 Bn |
| Dec 31, 2024 | 5.77 Bn |
| Sep 30, 2024 | 5.12 Bn |
| Sep 30, 2024 | 5.12 Bn |
| Jun 30, 2024 | 5.17 Bn |
| Jun 30, 2024 | 5.17 Bn |
| Mar 31, 2024 | 4.98 Bn |
| Mar 31, 2024 | 4.98 Bn |