NFLX
Netflix, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Netflix, Inc..
Coverage
Netflix's Rule of 40 Fell 32 Points in a Quarter. The Margin It Actually Steers On Went Up.
Netflix's quarterly Rule of 40 fell 32 points while operating margin rose and the TTM score moved three. Why the quarterly reading swings and which to trust.
Netflix Q2 2026: The Numbers Were Fine — the Disclosure Cut Wasn't. Stock Hits 52-Week Low
Netflix beat EPS, beat margin guidance, and bought back a record $4.7B of stock — then fell 9% because it announced its engagement report is going from twice a year to once. We unpack the 'trust gap' driving the reaction.
Netflix Hits 52-Week Low at $79 as Warner Bros Deal Drama Drags On
Netflix stock dropped 42% from its June 2025 peak, hitting fresh 52-week lows near $79. The culprit isn't the business — it's the $83B Warner Bros Discovery acquisition and everything that comes with it.
Where the revenue goes next
Latest: $12.56B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $9.37B |
| 2024Q2 | $9.56B |
| 2024Q3 | $9.82B |
| 2024Q4 | $10.25B |
| 2025Q1 | $10.54B |
| 2025Q2 | $11.08B |
| 2025Q3 | $11.51B |
| 2025Q4 | $12.05B |
| 2026Q1 | $12.25B |
| 2026Q2 | $12.56B |
Latest: $0.80 (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $0.53 |
| 2024Q2 | $0.49 |
| 2024Q3 | $0.54 |
| 2024Q4 | $0.42 |
| 2025Q1 | $0.66 |
| 2025Q2 | $0.72 |
| 2025Q3 | $0.59 |
| 2025Q4 | $0.56 |
| 2026Q1 | $1.23 |
| 2026Q2 | $0.80 |
Latest: 22.4 (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | 40.8 |
| 2024Q2 | 41.0 |
| 2024Q3 | 39.1 |
| 2024Q4 | 43.7 |
| 2025Q1 | 43.0 |
| 2025Q2 | 55.6 |
| 2025Q3 | 48.8 |
| 2025Q4 | 36.2 |
| 2026Q1 | 31.0 |
| 2026Q2 | 22.4 |
Latest: $1.52B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $2.14B |
| 2024Q2 | $1.21B |
| 2024Q3 | $2.19B |
| 2024Q4 | $1.38B |
| 2025Q1 | $2.66B |
| 2025Q2 | $2.27B |
| 2025Q3 | $2.66B |
| 2025Q4 | $1.87B |
| 2026Q1 | $5.09B |
| 2026Q2 | $1.52B |
Latest: 4.26B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | 442M |
| 2024Q2 | 440M |
| 2024Q3 | 438M |
| 2025Q1 | 437M |
| 2025Q2 | 435M |
| 2025Q3 | 434M |
| 2026Q1 | 4.30B |
| 2026Q2 | 4.26B |
Latest: $23.00B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $2.14B |
| 2024Q2 | $3.35B |
| 2024Q3 | $5.54B |
| 2024Q4 | $6.92B |
| 2025Q1 | $9.58B |
| 2025Q2 | $11.85B |
| 2025Q3 | $14.51B |
| 2025Q4 | $16.38B |
| 2026Q1 | $21.48B |
| 2026Q2 | $23.00B |
Latest earnings
Company History
Reed Hastings and Marc Randolph launch DVD-by-mail service; pioneers subscription model, disrupting Blockbuster's rental dominance.
Introduces unlimited streaming for subscribers; shifts from physical media to digital delivery, setting stage for cord-cutting era.
Releases first major original series; establishes Netflix as content creator, not just distributor; wins Emmys.
Launches in nearly every country; grows to international powerhouse, diversifying beyond U.S. market.
Subscriber surge during lockdowns; later implements paid sharing and ad-supported tier; narrative evolves to profitability focus.
Rare quarterly subscriber decline triggers major sell-off; prompts strategic shifts to ads, live events, and cost discipline.
Ad-supported plan scales to >$1.5B revenue; achieves ~29.5% operating margin and $9.5B FCF; positions as streaming leader.
Pursues $82.7B all-cash deal for WBD; stock down 39% on antitrust concerns; Q4 2025 strong (18% growth, 325M+ subs); 2026 guidance for $50-51B revenue.
Key Players
The CEO view — 5 podcasts, interviews & articles →
Similar stocks in Consumer
Funds we follow holding NFLX
By latest reported 13F position value. Market value at quarter-end, not cost basis.
