Netflix (NFLX) Free Cash Flow (2009 - 2026)
Netflix (NFLX) posted Free Cash Flow of $1.5 billion for Q2 2026, down 70.06% on a QoQ basis from $5.1 billion in Q1 2026, and down 32.73% year-over-year from $2.3 billion in Q2 2025.
Analysis
Netflix (NFLX) Free Cash Flow (2009 - 2026) Analysis & Trends
Netflix has reported Free Cash Flow for 18 years, with the latest figure at $1.5 billion in Q2 2026.
- On a quarterly basis, Free Cash Flow fell 32.73% year-over-year to $1.5 billion in Q2 2026; TTM through Jun 2026 was $11.2 billion, a 31.19% increase from a year earlier, with the FY2025 full-year figure at $9.5 billion, up 36.68% from the prior year.
- Free Cash Flow was $1.5 billion for Q2 2026 at Netflix, down from $5.1 billion in the prior quarter.
- The five-year high for Free Cash Flow was $5.1 billion in Q1 2026, with the low at $12.7 million in Q2 2022.
- Average Free Cash Flow over 5 years is $1.8 billion, with a median of $1.7 billion recorded in 2023.
- The sharpest annual moves came in 2023 and 2026: Free Cash Flow jumped 10418.85% in 2023, then tumbled 32.73% in 2026.
- Over 5 years, Free Cash Flow stood at $332.3 million in 2022, then jumped by 375.94% to $1.6 billion in 2023, then declined by 12.85% to $1.4 billion in 2024, then surged by 35.85% to $1.9 billion in 2025, then retreated by 18.54% to $1.5 billion in 2026.
- The last three Free Cash Flow figures came in at $1.5 billion (Q2 2026), $5.1 billion (Q1 2026), and $1.9 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 321.15 Bn | 312.02 Bn | 6.52 Bn | 1.53 Bn |
| 2 | Spotify Technology | 108.56 Bn | 97.65 Bn | 1.86 Bn | 971.73 Mn |
| 3 | Tencent Music Entertainment | 12.38 Bn | 8.87 Bn | 582.00 Mn | 422.00 Mn |
| 4 | Huya | 485.14 Mn | 124.88 Mn | 37.58 Mn | - |
| 5 | iQIYI | 427.67 Mn | -43.23 Mn | 152.37 Mn | 52.81 Mn |
| 6 | FuboTV | 324.08 Mn | -128.33 Mn | 399.10 Mn | -314.66 Mn |
| 7 | Kaltura | 221.37 Mn | 190.08 Mn | 34.54 Mn | -2.56 Mn |
| 8 | CuriosityStream | 157.45 Mn | 109.05 Mn | 16.93 Mn | - |
| 9 | Cineverse | 47.34 Mn | 43.02 Mn | 10.66 Mn | -1.27 Mn |
| 10 | LiveOne | 46.60 Mn | 37.94 Mn | 3.94 Mn | -2.95 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 |