Netflix (NFLX) Research & Development (2009 - 2026)
Netflix's Research & Development came in at $1.03 billion for Q3 2026, up 21.0% from $853.58 million a year earlier and up 2.5% from the prior quarter.
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Analysis
Netflix (NFLX) Research & Development (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Netflix reported Research & Development of $3.89 billion, up 18.7% year-over-year; for FY2025, it was $3.39 billion, up 15.9% from FY2024.
- Research & Development carries a five-year compound annual growth rate of 13.1% (FY2020 to FY2025).
- Going back by year, Research & Development was $2.93 billion in FY2024 (+9.3%), $2.68 billion in FY2023 (-1.3%), $2.71 billion in FY2022 (+19.2%) and $2.27 billion in FY2021 (+24.3%).
- The Q3 2026 figure represents the highest quarterly Research & Development in data going back to Q1 2009.
- Year-over-year, Research & Development has increased for 11 consecutive quarters, with growth averaging 17.4% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q2 2022 (growth of 33.4%), and the weakest in Q2 2023 (a decline of 8.2%).
- Business Quant data shows NFLX's Research & Development at $1.01 billion (Q2 2026), $959.7 million (Q1 2026) and $890.3 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,462.85 Bn | 3,197.75 Bn | 76.16 Bn | 20.64 Bn |
| 2 | Meta Platforms | 1,559.43 Bn | 1,223.94 Bn | 51.23 Bn | 20.05 Bn |
| 3 | Netflix | 262.12 Bn | 223.42 Bn | 6.80 Bn | 1.03 Bn |
| 4 | Alibaba Group Holding | 253.57 Bn | 67.20 Bn | 15.16 Bn | 3.32 Bn |
| 5 | Shopify | 191.77 Bn | 170.57 Bn | 1.78 Bn | 497.00 Mn |
| 6 | Uber Technologies | 139.89 Bn | 110.71 Bn | 6.42 Bn | 1.27 Bn |
| 7 | AppLovin | 130.31 Bn | 118.84 Bn | 1.94 Bn | 101.82 Mn |
| 8 | Spotify Technology | 123.80 Bn | 80.72 Bn | 1.89 Bn | 479.73 Mn |
| 9 | Booking Holdings | 120.61 Bn | 54.35 Bn | - | - |
| 10 | PDD Holdings | 116.11 Bn | -127.94 Bn | 9.48 Bn | 673.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 1.03 Bn |
| Jun 30, 2026 | 1.01 Bn |
| Mar 31, 2026 | 959.70 Mn |
| Dec 31, 2025 | 890.30 Mn |
| Sep 30, 2025 | 853.58 Mn |
| Jun 30, 2025 | 824.68 Mn |
| Mar 31, 2025 | 822.82 Mn |
| Dec 31, 2024 | 776.51 Mn |
| Sep 30, 2024 | 735.06 Mn |
| Jun 30, 2024 | 711.25 Mn |
| Mar 31, 2024 | 702.47 Mn |
| Dec 31, 2023 | 673.34 Mn |
| Sep 30, 2023 | 657.16 Mn |
| Jun 30, 2023 | 657.98 Mn |
| Mar 31, 2023 | 687.28 Mn |
| Dec 31, 2022 | 673.93 Mn |
| Sep 30, 2022 | 662.74 Mn |
| Jun 30, 2022 | 716.85 Mn |
| Mar 31, 2022 | 657.53 Mn |
| Dec 31, 2021 | 647.47 Mn |
API Access
Netflix Research & Development 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=research-and-development&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();