Netflix (NFLX) EBITDA (2009 - 2026)
Netflix (NFLX) posted EBITDA of $4.29 billion for Q2 2026, up 11.4% from $3.85 billion a year earlier and up 5.9% from the prior quarter.
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Analysis
Netflix (NFLX) EBITDA (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EBITDA at Netflix was $14.73 billion, up 16.7% year-over-year; for FY2025, it came in at $13.66 billion, up 27.1% from FY2024.
- Annual EBITDA has increased for three consecutive years, with a five-year compound annual growth rate of 23.8% (FY2020 to FY2025).
- In prior years, Netflix's EBITDA was $10.75 billion in FY2024 (+47.0%), $7.31 billion in FY2023 (+22.5%), $5.97 billion in FY2022 (-6.8%) and $6.4 billion in FY2021 (+36.2%).
- The Q2 2026 figure stands as the highest quarterly EBITDA in data going back to Q1 2009.
- On a year-over-year basis, EBITDA has increased in each of the last 13 quarters, with growth averaging 29.7% over the last eight quarters.
- The strongest year-over-year quarter for EBITDA in the past five years was Q4 2023, with growth of 146.0%; the weakest was Q4 2021, with a decline of 29.4%.
- According to Business Quant data, EBITDA for the three prior quarters was $4.06 billion (Q1 2026), $3.04 billion (Q4 2025) and $3.34 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 47.87 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 25.13 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 4.29 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | - |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 495.00 Mn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 2.09 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 2.63 Bn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | - |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 1.53 Bn |
| 10 | Spotify Technology | 102.35 Bn | 59.59 Bn | 1.86 Bn | 348.71 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.29 Bn |
| Mar 31, 2026 | 4.06 Bn |
| Dec 31, 2025 | 3.04 Bn |
| Sep 30, 2025 | 3.34 Bn |
| Jun 30, 2025 | 3.85 Bn |
| Mar 31, 2025 | 3.43 Bn |
| Dec 31, 2024 | 2.35 Bn |
| Sep 30, 2024 | 2.99 Bn |
| Jun 30, 2024 | 2.68 Bn |
| Mar 31, 2024 | 2.72 Bn |
| Dec 31, 2023 | 1.58 Bn |
| Sep 30, 2023 | 2.01 Bn |
| Jun 30, 2023 | 1.92 Bn |
| Mar 31, 2023 | 1.80 Bn |
| Dec 31, 2022 | 643.29 Mn |
| Sep 30, 2022 | 1.62 Bn |
| Jun 30, 2022 | 1.66 Bn |
| Mar 31, 2022 | 2.05 Bn |
| Dec 31, 2021 | 695.75 Mn |
| Sep 30, 2021 | 1.83 Bn |
API Access
Netflix EBITDA 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=ebitda&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();