Netflix (NFLX) Net Margin (2009 - 2026)

Netflix's Net Margin history runs 18 years deep, the most recent figure standing at 43.13% for Q1 2026.

• In Q1 2026, Net Margin rose 1571.0% year-over-year to 43.13%; the TTM figure through Mar 2026 stood at 28.52% (up 545.0% YoY), while the FY2025 annual figure was 24.3%, up 197.0% from the prior year.
• Net Margin was 43.13% for Q1 2026 at Netflix, up from 20.07% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 43.13% in Q1 2026 to a low of 0.7% in Q4 2022.
• Historically, Net Margin has averaged 20.69% across 5 years, with a median of 20.07% in 2025.
• The sharpest annual moves came in 2022 and 2026: Net Margin plunged 718 bps in 2022, then surged 1571 bps in 2026.
• A 5-year view of Net Margin shows it stood at 0.7% in 2022, then surged by 1408 bps to 10.62% in 2023, then surged by 72 bps to 18.24% in 2024, then rose by 10 bps to 20.07% in 2025, then jumped by 115 bps to 43.13% in 2026.
• The last three Net Margin figures came in at 43.13% (Q1 2026), 20.07% (Q4 2025), and 22.13% (Q3 2025), per Business Quant data.