Netflix (NFLX) FCF Margin (2009 - 2026)
Netflix (NFLX) posted quarterly FCF Margin of 12.14% for Q2 2026, down 832.0% year-over-year from 1.66% in Q2 2025, and down 70.8% quarter-over-quarter from 41.59% in Q1 2026.
Netflix (NFLX) FCF Margin (2009 - 2026) Analysis & Trends
Netflix's FCF Margin history runs 18 years deep, the most recent figure standing at 12.14% for Q2 2026.
- In Q2 2026, FCF Margin fell 832.0% year-over-year to 12.14%; the TTM figure through Jun 2026 stood at 23.06% (up 267.0% YoY), while the FY2025 annual figure was 20.94%, up 319.0% from the prior year.
- FCF Margin for Q2 2026 stood at 12.14%, down from 41.59% in the prior quarter.
- The five-year high for FCF Margin was 41.59% in Q1 2026, with the low at 0.16% in Q2 2022.
- The 5-year median for FCF Margin is 17.13% (2023), against an average of 17.34%.
- Peak annual rise in FCF Margin reached 1635 bps in 2026, while the deepest fall reached 832 bps in 2026.
- Netflix's FCF Margin stood at 4.23% in 2022, then surged by 323 bps to 17.9% in 2023, then fell by 25 bps to 13.45% in 2024, then rose by 16 bps to 15.54% in 2025, then retreated by 22 bps to 12.14% in 2026.
- Business Quant data shows NFLX's FCF Margin at 12.14% in Q2 2026, 41.59% in Q1 2026, and 15.54% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 12.14% |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 12.17% |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 6.56% |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 1.69% |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | 17.24% |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 35.01% |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 20.15% |
| 8 | News | 18.65 Bn | 16.55 Bn | - | 11.81% |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 21.22% |
| 10 | Paramount Skydance | 11.45 Bn | 8.18 Bn | -2.08 Bn | 2.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 12.14% |
| Mar 31, 2026 | 41.59% |
| Dec 31, 2025 | 15.54% |
| Sep 30, 2025 | 23.11% |
| Jun 30, 2025 | 20.47% |
| Mar 31, 2025 | 25.24% |
| Dec 31, 2024 | 13.45% |
| Sep 30, 2024 | 22.33% |
| Jun 30, 2024 | 12.68% |
| Mar 31, 2024 | 22.80% |
| Dec 31, 2023 | 17.90% |
| Sep 30, 2023 | 22.11% |
| Jun 30, 2023 | 16.36% |
| Mar 31, 2023 | 25.94% |
| Dec 31, 2022 | 4.23% |
| Sep 30, 2022 | 5.95% |
| Jun 30, 2022 | 0.16% |
| Mar 31, 2022 | 10.19% |
| Dec 31, 2021 | -7.38% |
| Sep 30, 2021 | -1.14% |