Netflix, Inc.
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $45.18 billion, up 16% year-over-year |
| Net income (FY2025) | $10.98 billion, up 26% year-over-year from $8.71 billion in FY2024 |
| Diluted EPS (FY2025) | $2.53, up from $1.98 in FY2024 |
| Operating margin (FY2025) | 29.5%, up from 26.7% in FY2024 |
| Free cash flow (FY2025) | $9.46 billion, up from $6.92 billion in FY2024 |
| Paid memberships (milestone disclosed, Q4 2025 shareholder letter) | crossed 325 million globally; Netflix no longer discloses a precise quarterly count |
| Ad-supported tier reach (company disclosure, November 2025) | 190 million global monthly active viewers |
| Share of U.S. TV viewing (December 2025, Nielsen The Gauge) | 9.0% of total TV viewing time (third-party estimate) |
| Cash content spend (FY2025) | $17.10 billion |
Sources: Regional revenue, net income and margin figures are from Netflix's FY2025 Form 10-K (filed January 23, 2026) and Q4 2025 shareholder letter (January 20, 2026). Netflix operates as a single reportable segment, so no regional operating-income breakdown is disclosed. Netflix stopped disclosing precise quarterly paid-membership counts starting in 2025; the '325 million' figure in the KPI table is a milestone mention from the shareholder letter, not an audited count. FY2021-FY2022 revenue figures in the growth chart are well-established historical figures but were sourced via secondary aggregation rather than a direct re-fetch of those years' original 10-Ks this cycle.