SuperworthNetflix profit margin NFLX
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- 29.7%
- Operating margin, 12 months
- 31.3%
- Net margin on a year earlier
- +5.6 pts
- Peer median
- 6.5%
Over the twelve months to Sep 30, 2026, Netflix kept 29.7% of its revenue as net profit, with an operating margin of 31.3%.
Five years earlier its net margin was 17.6%.
The median for 4 entertainment stocks of a similar size is 6.5%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 24.3% | 29.5% | 48.5% |
| FY2024 | 22.3% | 26.7% | 46.1% |
| FY2023 | 16.0% | 20.6% | 41.5% |
| FY2022 | 14.2% | 17.8% | 39.4% |
| FY2021 | 17.2% | 20.9% | 41.6% |
| FY2020 | 11.0% | 18.3% | 38.9% |
| FY2019 | 9.3% | 12.9% | 38.3% |
| FY2018 | 7.7% | 10.2% | 36.9% |
| FY2017 | 4.8% | 7.2% | 31.3% |
| FY2016 | 2.1% | 4.3% | 29.1% |
| FY2015 | 1.8% | 4.5% | 32.3% |
| FY2014 | 4.8% | 7.3% | 31.8% |
| FY2013 | 2.6% | 5.2% | 28.7% |
| FY2012 | 0.5% | 1.4% | 27.2% |
| FY2011 | 7.1% | 11.7% | 36.3% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q3 FY26 | 29.7% | +5.6 pts | 31.3% | |
| Q2 FY26 | 28.2% | +3.6 pts | 29.7% | |
| Q1 FY26 | 28.5% | +5.4 pts | 29.7% | |
| Q4 FY25 | 24.3% | +2.0 pts | 29.5% | |
| Q3 FY25 | 24.0% | +3.3 pts | 29.1% | |
| Q2 FY25 | 24.6% | +5.0 pts | 29.5% | |
| Q1 FY25 | 23.1% | +4.7 pts | 27.7% | |
| Q4 FY24 | 22.3% | +6.3 pts | 26.7% | |
| Q3 FY24 | 20.7% | +6.9 pts | 25.6% | |
| Q2 FY24 | 19.5% | +6.3 pts | 23.8% | |
| Q1 FY24 | 18.4% | +5.3 pts | 22.5% | |
| Q4 FY23 | 16.0% | +1.8 pts | 20.6% |
Against its peers
Companies in Entertainment nearest Netflix's size, closest first, today.
| Company | Profit margin |
|---|---|
| NFLXNetflix | 29.7% |
| DISWalt Disney | 8.7% |
| LYVLive Nation Entertainment | 0.5% |
| TKOTKO | 4.3% |
| FOXAFox | 9.8% |
| Peer median | 6.5% |
Where Netflix ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Netflix
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.