Netflix (NFLX) Gross Margin (2009 - 2026)

Netflix has reported Gross Margin for 18 years, with the latest figure at 51.93% in Q2 2026.

• On a quarterly basis, Gross Margin changed 0.0% year-over-year to 51.93% in Q2 2026; TTM through Jun 2026 was 49.12%, a 63.0% increase from a year earlier, with the FY2025 full-year figure at 48.49%, up 243.0% from the prior year.
• Gross Margin was 51.93% for Q2 2026 at Netflix, roughly flat from 51.93% in the prior quarter.
• The five-year high for Gross Margin was 51.93% in Q2 2026, with the low at 31.18% in Q4 2022.
• Average Gross Margin over 5 years is 44.79%, with a median of 45.71% recorded in 2022.
• The largest YoY upside for Gross Margin was 874 bps in 2023 against a maximum downside of 440 bps in 2023.
• Over 5 years, Gross Margin stood at 31.18% in 2022, then climbed by 28 bps to 39.91% in 2023, then increased by 10 bps to 43.71% in 2024, then grew by 5 bps to 45.87% in 2025, then grew by 13 bps to 51.93% in 2026.
• The last three Gross Margin figures came in at 51.93% (Q2 2026), 51.93% (Q1 2026), and 45.87% (Q4 2025), per Business Quant data.