Netflix (NFLX) Shares Outstanding (Diluted) (2009 - 2026)
Netflix (NFLX) posted Shares Outstanding (Diluted) of 4.26 billion for Q2 2026, down 2.0% from 4.35 billion a year earlier and down 0.9% from the prior quarter.
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Analysis
Netflix (NFLX) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Netflix's Shares Outstanding (Diluted) came in at 4.34 billion, down 1.1% from FY2024.
- Annual Shares Outstanding (Diluted) has declined for four consecutive years, with a five-year compound annual growth rate of -0.9% (FY2020 to FY2025).
- In prior years, Netflix's Shares Outstanding (Diluted) was 4.39 billion in FY2024 (-2.3%), 4.49 billion in FY2023 (-0.4%), 4.51 billion in FY2022 (-0.9%) and 4.55 billion in FY2021 (+0.3%).
- The Q2 2026 figure stands as the lowest quarterly Shares Outstanding (Diluted) since Q4 2013.
- On a year-over-year basis, Shares Outstanding (Diluted) has declined in each of the last 12 quarters, with an average decline of 1.6% over the last eight quarters.
- The strongest year-over-year quarter for Shares Outstanding (Diluted) in the past five years was Q2 2023, with growth of 0.3%; the weakest was Q3 2024, with a decline of 2.7%.
- According to Business Quant data, Shares Outstanding (Diluted) for the three prior quarters was 4.3 billion (Q1 2026), 4.34 billion (Q4 2025) and 4.34 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 12.31 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 2.57 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 4.26 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | 2.40 Bn |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 1.30 Bn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 2.05 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 770.00 Mn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | 1.48 Bn |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 337.03 Mn |
| 10 | Spotify Technology | 102.35 Bn | 59.59 Bn | 1.86 Bn | 210.51 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.26 Bn |
| Mar 31, 2026 | 4.30 Bn |
| Dec 31, 2025 | 4.34 Bn |
| Sep 30, 2025 | 4.34 Bn |
| Jun 30, 2025 | 4.35 Bn |
| Mar 31, 2025 | 4.37 Bn |
| Dec 31, 2024 | 4.39 Bn |
| Sep 30, 2024 | 4.38 Bn |
| Jun 30, 2024 | 4.40 Bn |
| Mar 31, 2024 | 4.42 Bn |
| Dec 31, 2023 | 4.49 Bn |
| Sep 30, 2023 | 4.50 Bn |
| Jun 30, 2023 | 4.52 Bn |
| Mar 31, 2023 | 4.52 Bn |
| Dec 31, 2022 | 4.51 Bn |
| Sep 30, 2022 | 4.50 Bn |
| Jun 30, 2022 | 4.50 Bn |
| Mar 31, 2022 | 4.53 Bn |
| Dec 31, 2021 | 4.55 Bn |
| Sep 30, 2021 | 4.55 Bn |
API Access
Netflix Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=NFLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=NFLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();