Netflix (NFLX) Free Cash Flow (2009 - 2026)
Netflix's Free Cash Flow was $1.53 billion in Q2 2026, down 32.7% from $2.27 billion a year earlier and down 70.1% from the prior quarter.
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Analysis
Netflix (NFLX) Free Cash Flow (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Netflix's Free Cash Flow was $11.15 billion through Jun 30, 2026, up 31.2% year-over-year; for FY2025, it came in at $9.46 billion, up 36.7% from FY2024.
- Free Cash Flow shows a five-year compound annual growth rate of 37.4% (FY2020 to FY2025).
- In earlier years, Free Cash Flow was $6.92 billion in FY2024 (-0.1%), $6.93 billion in FY2023 (+327.9%), $1.62 billion in FY2022 and -$131.98 million in FY2021.
- The Q2 2026 figure marks the lowest quarterly Free Cash Flow since Q4 2024.
- Compared with a year earlier, Free Cash Flow was higher in six of the last eight quarters, with growth averaging 28.8%.
- The best year-over-year quarter for Free Cash Flow over five years was Q4 2023 (growth of 375.9%); the worst was Q2 2026 (a decline of 32.7%).
- Per Business Quant data, NFLX's Free Cash Flow in the three quarters before Q2 2026 was $5.09 billion (Q1 2026), $1.87 billion (Q4 2025) and $2.66 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,180.92 Bn | 3,938.44 Bn | 73.85 Bn | -5.86 Bn |
| 2 | Meta Platforms | 1,847.76 Bn | 1,550.28 Bn | 49.47 Bn | 1.75 Bn |
| 3 | Netflix | 289.73 Bn | 249.92 Bn | 6.52 Bn | 1.53 Bn |
| 4 | Alibaba Group Holding | 249.81 Bn | 67.68 Bn | 15.11 Bn | 3.37 Bn |
| 5 | Shopify | 192.08 Bn | 169.26 Bn | 1.71 Bn | 654.00 Mn |
| 6 | Uber Technologies | 139.76 Bn | 111.74 Bn | 6.38 Bn | 2.79 Bn |
| 7 | Booking Holdings | 122.41 Bn | 55.46 Bn | - | 3.64 Bn |
| 8 | PDD Holdings | 110.94 Bn | -140.99 Bn | 9.45 Bn | 3.77 Bn |
| 9 | Spotify Technology | 100.32 Bn | 57.56 Bn | 1.86 Bn | 971.73 Mn |
| 10 | AppLovin | 97.38 Bn | 87.41 Bn | 1.70 Bn | 869.04 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.53 Bn |
| Mar 31, 2026 | 5.09 Bn |
| Dec 31, 2025 | 1.87 Bn |
| Sep 30, 2025 | 2.66 Bn |
| Jun 30, 2025 | 2.27 Bn |
| Mar 31, 2025 | 2.66 Bn |
| Dec 31, 2024 | 1.38 Bn |
| Sep 30, 2024 | 2.19 Bn |
| Jun 30, 2024 | 1.21 Bn |
| Mar 31, 2024 | 2.14 Bn |
| Dec 31, 2023 | 1.58 Bn |
| Sep 30, 2023 | 1.89 Bn |
| Jun 30, 2023 | 1.34 Bn |
| Mar 31, 2023 | 2.12 Bn |
| Dec 31, 2022 | 332.27 Mn |
| Sep 30, 2022 | 471.85 Mn |
| Jun 30, 2022 | 12.73 Mn |
| Mar 31, 2022 | 801.68 Mn |
| Dec 31, 2021 | -569.25 Mn |
| Sep 30, 2021 | -84.95 Mn |
API Access
Netflix Free Cash Flow 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=free-cash-flow&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();