Netflix (NFLX) EBITDA (2009 - 2026)
Netflix (NFLX) posted EBITDA of $4.2 billion for Q2 2026, up 5.95% on a QoQ basis from $4.0 billion in Q1 2026, and up 11.07% year-over-year from $3.8 billion in Q2 2025.
Analysis
Netflix (NFLX) EBITDA (2009 - 2026) Analysis & Trends
Netflix has reported EBITDA for 18 years, with the latest figure at $4.2 billion in Q2 2026.
- On a quarterly basis, EBITDA rose 11.07% year-over-year to $4.2 billion in Q2 2026; TTM through Jun 2026 was $14.4 billion, a 16.67% increase from a year earlier, with the FY2025 full-year figure at $13.3 billion, up 27.92% from the prior year.
- EBITDA was $4.2 billion for Q2 2026 at Netflix, up from $4.0 billion in the prior quarter.
- The five-year high for EBITDA was $4.2 billion in Q2 2026, with the low at $549.9 million in Q4 2022.
- Average EBITDA over 5 years is $2.5 billion, with a median of $2.4 billion recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: EBITDA retreated 14.58% in 2022, then soared 172.07% in 2023.
- Over 5 years, EBITDA stood at $549.9 million in 2022, then jumped by 172.07% to $1.5 billion in 2023, then soared by 51.91% to $2.3 billion in 2024, then jumped by 30.09% to $3.0 billion in 2025, then surged by 41.8% to $4.2 billion in 2026.
- The last three EBITDA figures came in at $4.2 billion (Q2 2026), $4.0 billion (Q1 2026), and $3.0 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 321.15 Bn | 312.02 Bn | 6.52 Bn | 4.19 Bn |
| 2 | Spotify Technology | 108.56 Bn | 97.65 Bn | 1.86 Bn | 761.35 Mn |
| 3 | Tencent Music Entertainment | 12.38 Bn | 8.87 Bn | 582.00 Mn | 480.00 Mn |
| 4 | Huya | 485.14 Mn | 124.88 Mn | 37.58 Mn | -1.03 Mn |
| 5 | iQIYI | 427.67 Mn | -43.23 Mn | 152.37 Mn | -15.38 Mn |
| 6 | FuboTV | 324.08 Mn | -128.33 Mn | 399.10 Mn | 30.43 Mn |
| 7 | Kaltura | 221.37 Mn | 190.08 Mn | 34.54 Mn | -775,000.00 |
| 8 | CuriosityStream | 157.45 Mn | 109.05 Mn | 16.93 Mn | 9.18 Mn |
| 9 | Cineverse | 47.34 Mn | 43.02 Mn | 10.66 Mn | -5.12 Mn |
| 10 | LiveOne | 46.60 Mn | 37.94 Mn | 3.94 Mn | -3.68 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.19 Bn |
| Mar 31, 2026 | 3.96 Bn |
| Dec 31, 2025 | 2.96 Bn |
| Sep 30, 2025 | 3.25 Bn |
| Jun 30, 2025 | 3.77 Bn |
| Mar 31, 2025 | 3.35 Bn |
| Dec 31, 2024 | 2.27 Bn |
| Sep 30, 2024 | 2.91 Bn |
| Jun 30, 2024 | 2.60 Bn |
| Mar 31, 2024 | 2.63 Bn |
| Dec 31, 2023 | 1.50 Bn |
| Sep 30, 2023 | 1.92 Bn |
| Jun 30, 2023 | 1.83 Bn |
| Mar 31, 2023 | 1.71 Bn |
| Dec 31, 2022 | 549.90 Mn |
| Sep 30, 2022 | 1.53 Bn |
| Jun 30, 2022 | 1.58 Bn |
| Mar 31, 2022 | 1.97 Bn |
| Dec 31, 2021 | 631.77 Mn |
| Sep 30, 2021 | 1.76 Bn |