Netflix (NFLX) Gross Margin (2009 - 2025)

Netflix has reported Gross Margin for 17 years, with the latest figure at 92.69% in FY2025.

• For the quarter ending Q1 2026, Gross Margin fell 35.0% year-over-year to 93.12%; the trailing twelve-month figure through Mar 2026 stood at 113.86% (up 5555.0% YoY), and the FY2025 full-year result was 92.69%, up 4664.0% from the prior year.
• Gross Margin for FY2025 stood at 92.69%, up from 46.06% in the prior year.
• The five-year high for Gross Margin was 92.69% in FY2025, with the low at 39.37% in FY2022.
• Average Gross Margin over 5 years is 72.33%, with a median of 91.43% recorded in 2021.
• Year-over-year, Gross Margin sank 5206 bps in 2022 and soared 5275 bps in 2023.
• Tracing NFLX's Gross Margin over 5 years: stood at 91.43% in 2021, then tumbled by 57 bps to 39.37% in 2022, then surged by 134 bps to 92.12% in 2023, then plunged by 50 bps to 46.06% in 2024, then surged by 101 bps to 92.69% in 2025.
• The last three Gross Margin figures came in at 92.69% (FY2025), 46.06% (FY2024), and 92.12% (FY2023), per Business Quant data.

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