Netflix (NFLX) EBITDA Margin (2009 - 2026)
Netflix (NFLX) posted quarterly EBITDA Margin of 33.38% for Q2 2026, down 69.0% year-over-year from 107.68% in Q2 2025, and up 3.34% quarter-over-quarter from 32.3% in Q1 2026.
Netflix (NFLX) EBITDA Margin (2009 - 2026) Analysis & Trends
Netflix's EBITDA Margin history runs 18 years deep, the most recent figure standing at 33.38% for Q2 2026.
- In Q2 2026, EBITDA Margin fell 69.0% year-over-year to 33.38%; the TTM figure through Jun 2026 stood at 29.68% (up 17.0% YoY), while the FY2025 annual figure was 29.49%, up 278.0% from the prior year.
- EBITDA Margin for Q2 2026 stood at 33.38%, up from 32.3% in the prior quarter.
- The five-year high for EBITDA Margin was 34.07% in Q2 2025, with the low at 7.0% in Q4 2022.
- The 5-year median for EBITDA Margin is 24.8% (2022), against an average of 24.74%.
- The sharpest annual moves came in 2022 and 2023: EBITDA Margin tumbled 536 bps in 2022, then soared 993 bps in 2023.
- Netflix's EBITDA Margin stood at 7.0% in 2022, then soared by 142 bps to 16.94% in 2023, then soared by 31 bps to 22.18% in 2024, then increased by 11 bps to 24.54% in 2025, then surged by 36 bps to 33.38% in 2026.
- Business Quant data shows NFLX's EBITDA Margin at 33.38% in Q2 2026, 32.3% in Q1 2026, and 24.54% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 33.38% |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | -35.31% |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 2.72% |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 6.81% |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | 24.17% |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 9.42% |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 10.79% |
| 8 | News | 18.65 Bn | 16.55 Bn | - | 14.33% |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 27.78% |
| 10 | Paramount Skydance | 11.45 Bn | 8.18 Bn | -2.08 Bn | 21.86% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 33.38% |
| Mar 31, 2026 | 32.30% |
| Dec 31, 2025 | 24.54% |
| Sep 30, 2025 | 28.22% |
| Jun 30, 2025 | 34.07% |
| Mar 31, 2025 | 31.75% |
| Dec 31, 2024 | 22.18% |
| Sep 30, 2024 | 29.61% |
| Jun 30, 2024 | 27.23% |
| Mar 31, 2024 | 28.09% |
| Dec 31, 2023 | 16.94% |
| Sep 30, 2023 | 22.44% |
| Jun 30, 2023 | 22.32% |
| Mar 31, 2023 | 21.00% |
| Dec 31, 2022 | 7.00% |
| Sep 30, 2022 | 19.34% |
| Jun 30, 2022 | 19.80% |
| Mar 31, 2022 | 25.06% |
| Dec 31, 2021 | 8.19% |
| Sep 30, 2021 | 23.46% |