NFLXNetflix

Communication · Streaming · Nasdaq

Netflix, Inc. (“Netflix”, the “Company”, “registrant”, “we”, or “us”) is one of the world’s leading entertainment services offering TV series, films, games and live programming across a wide variety of genres and languages. 10-K, Item 1

Employees: 16,000
Headquarters: Los Gatos, CA
Next results: around Jan 19, 2027

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RevenueFY2016–25 $45.2B+15.9% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $11.0B+26.1% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $9.5B+36.7% Highest in 10 years 10-K FY2025 · XBRL Operating marginFY2016–25 29.5%+2.8 pts 4.3% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Jan 23, 2026 against Jan 27, 2025

Area	What changed	Source
Risk factors	7 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Cash from operations lower than net income	Cash from operations $10.1B vs net income $11.0B (FY ending 2025-12-31)	10-K · XBRL
Accounting checks	8 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Jan 23, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-01-27. Quoted as filed.

In connection with our transaction with WBD to acquire WBD’s streaming and studios businesses, including its film and television studios, HBO Max and HBO (such transaction, the “WBD transaction”), we expect to incur and/or assume a substantial amount of additional indebtedness, which will materially increase the amount of our…
10-K, Item 1A

All 7 new paragraphs →

Accounting checks

latest 10-K

8 of 9 clear 1 worth a look. Checks, not verdicts.

!
Cash from operations lower than net incomeCash from operations $10.1B vs net income $11.0B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: Content Amortization
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 21, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 20, 20268-K Quarterly results 8-K item 2.02

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