Netflix (NFLX) Operating Income (2009 - 2026)
Netflix (NFLX) reported Operating Income of $4.46 billion for Q3 2026, up 37.3% from $3.25 billion a year earlier and up 6.3% from the prior quarter.
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Analysis
Netflix (NFLX) Operating Income (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Netflix's Operating Income came in at $15.56 billion, up 23.1% year-over-year; for FY2025, it was $13.33 billion, up 27.9% from FY2024.
- Operating Income has increased for three consecutive years, with a five-year compound annual growth rate of 23.8% (FY2020 to FY2025).
- By year, Operating Income came in at $10.42 billion in FY2024 (+49.8%), $6.95 billion in FY2023 (+23.5%), $5.63 billion in FY2022 (-9.1%) and $6.19 billion in FY2021 (+35.1%).
- The Q3 2026 figure ranks as the highest quarterly Operating Income in data going back to Q1 2009.
- Year over year, Operating Income has now increased in each of the last 14 quarters, with growth averaging 29.0% over the last eight quarters.
- The high point for year-over-year Operating Income in five years was Q4 2023 (growth of 172.1%); the low point was Q4 2021 (a decline of 33.8%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $4.19 billion (Q2 2026), $3.96 billion (Q1 2026) and $2.96 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,525.73 Bn | 3,260.64 Bn | 76.16 Bn | 40.58 Bn |
| 2 | Meta Platforms | 1,636.90 Bn | 1,301.42 Bn | 51.23 Bn | 12.99 Bn |
| 3 | Netflix | 263.34 Bn | 224.64 Bn | 6.80 Bn | 4.46 Bn |
| 4 | Alibaba Group Holding | 244.75 Bn | 58.38 Bn | 15.16 Bn | 2.23 Bn |
| 5 | Shopify | 195.19 Bn | 173.99 Bn | 1.78 Bn | 568.00 Mn |
| 6 | Uber Technologies | 144.40 Bn | 115.22 Bn | 6.42 Bn | 1.45 Bn |
| 7 | AppLovin | 135.91 Bn | 124.44 Bn | 1.94 Bn | 1.71 Bn |
| 8 | Spotify Technology | 123.88 Bn | 80.80 Bn | 1.89 Bn | 773.09 Mn |
| 9 | Booking Holdings | 121.69 Bn | 55.44 Bn | - | 3.42 Bn |
| 10 | Airbnb | 113.94 Bn | 66.26 Bn | 4.22 Bn | 2.02 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.46 Bn |
| Jun 30, 2026 | 4.19 Bn |
| Mar 31, 2026 | 3.96 Bn |
| Dec 31, 2025 | 2.96 Bn |
| Sep 30, 2025 | 3.25 Bn |
| Jun 30, 2025 | 3.77 Bn |
| Mar 31, 2025 | 3.35 Bn |
| Dec 31, 2024 | 2.27 Bn |
| Sep 30, 2024 | 2.91 Bn |
| Jun 30, 2024 | 2.60 Bn |
| Mar 31, 2024 | 2.63 Bn |
| Dec 31, 2023 | 1.50 Bn |
| Sep 30, 2023 | 1.92 Bn |
| Jun 30, 2023 | 1.83 Bn |
| Mar 31, 2023 | 1.71 Bn |
| Dec 31, 2022 | 549.90 Mn |
| Sep 30, 2022 | 1.53 Bn |
| Jun 30, 2022 | 1.58 Bn |
| Mar 31, 2022 | 1.97 Bn |
| Dec 31, 2021 | 631.77 Mn |
API Access
Netflix Operating Income 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=operating-income&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-income", "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=operating-income&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();