Netflix (NFLX) Invested Capital (2009 - 2026)
Netflix (NFLX) posted Invested Capital of $44.46 billion for Q2 2026, up 12.8% from $39.41 billion a year earlier but down 2.3% from the prior quarter.
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Analysis
Netflix (NFLX) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Netflix's Invested Capital came in at $41.08 billion, up 1.9% from FY2024.
- Annual Invested Capital shows a five-year compound annual growth rate of 8.5% (FY2020 to FY2025).
- In prior years, Netflix's Invested Capital was $40.33 billion in FY2024 (+14.8%), $35.13 billion in FY2023 (unchanged), $35.13 billion in FY2022 (+12.4%) and $31.24 billion in FY2021 (+14.1%).
- Quarterly Invested Capital has run from a low of $30.81 billion in Q3 2021 to a high of $45.49 billion in Q1 2026 over five years.
- On a year-over-year basis, Invested Capital has increased in each of the last eight quarters, with growth averaging 9.5% over the last eight quarters.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q3 2021, with growth of 16.8%; the weakest was Q2 2024, with a decline of 3.2%.
- According to Business Quant data, Invested Capital for the three prior quarters was $45.49 billion (Q1 2026), $41.08 billion (Q4 2025) and $40.42 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 738.65 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 344.89 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 44.46 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | 187.69 Bn |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | - |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 40.94 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 9.40 Bn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | - |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 6.68 Bn |
| 10 | Spotify Technology | 102.35 Bn | 59.59 Bn | 1.86 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 44.46 Bn |
| Mar 31, 2026 | 45.49 Bn |
| Dec 31, 2025 | 41.08 Bn |
| Sep 30, 2025 | 40.42 Bn |
| Jun 30, 2025 | 39.41 Bn |
| Mar 31, 2025 | 39.05 Bn |
| Dec 31, 2024 | 40.33 Bn |
| Sep 30, 2024 | 38.70 Bn |
| Jun 30, 2024 | 36.09 Bn |
| Mar 31, 2024 | 35.38 Bn |
| Dec 31, 2023 | 35.13 Bn |
| Sep 30, 2023 | 36.41 Bn |
| Jun 30, 2023 | 37.30 Bn |
| Mar 31, 2023 | 36.27 Bn |
| Dec 31, 2022 | 35.13 Bn |
| Sep 30, 2022 | 34.42 Bn |
| Jun 30, 2022 | 33.31 Bn |
| Mar 31, 2022 | 32.08 Bn |
| Dec 31, 2021 | 31.24 Bn |
| Sep 30, 2021 | 30.81 Bn |
API Access
Netflix Invested Capital 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=invested-capital&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();