Netflix (NFLX) vs peers in numbers

NFLX and 9 peers, year by year

The 9 Communication companies closest to NFLX in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
NFLX Netflix	FY2025	$45.2B	+15.9%	-	29.5%	24.3%	20.9%	41.3%	0.54
CHTR Charter Communications	FY2025	$54.8B	−0.6%	-	23.6%	9.1%	8.1%	31.1%	5.90
SKYD Skydance Corporation	FY2024	$29.2B	−1.5%	-	−18.0%	−21.2%	1.7%	−37.9%	0.89
LYV Live Nation Entertainment	FY2025	$25.2B	+8.8%	-	5.0%	2.0%	1.3%	183.0%	n/m
OMC Omnicom Group	FY2025	$17.3B	+10.1%	-	2.6%	−0.3%	16.1%	−0.5%	0.77
FOXA Fox Corporation (Class A)	FY2026	$17.1B	+5.1%	-	-	9.8%	8.6%	14.5%	0.57
ECHO EchoStar	FY2025	$15.0B	−5.2%	-	−118.1%	−96.6%	−7.1%	n/m	4.51
NWSA News Corp (Class A)	FY2026	$9.0B	+6.8%	-	-	6.3%	9.0%	6.7%	0.23
APP AppLovin	FY2025	$5.5B	+70.0%	-	75.8%	60.8%	-	156.2%	1.65
TTWO Take-Two Interactive	FY2026	$6.7B	+18.2%	57.2%	−1.6%	−4.5%	6.9%	−8.5%	0.72

Revenuepeer median $17.1B

Sales growthpeer median +6.8%

Operating marginpeer median 2.6%

Net marginpeer median 2.0%

FCF marginpeer median 7.5%

Return on equitypeer median 10.6%

Debt / equitypeer median 0.83

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	$8.8B	$11.7B	$15.8B	$20.2B	$25.0B	$29.7B	$31.6B	$33.7B	$39.0B	$45.2B
CHTR Dec	$29.0B	$41.6B	$43.6B	$45.8B	$48.1B	$51.7B	$54.0B	$54.6B	$55.1B	$54.8B
SKYD Dec	-	-	-	-	-	-	-	$29.7B	$29.2B	-
LYV Dec	$7.8B	$9.7B	$10.8B	$11.5B	$1.9B	$6.3B	$16.7B	$22.7B	$23.2B	$25.2B
OMC Dec	$15.4B	$15.3B	$15.3B	$15.0B	$13.2B	$14.3B	$14.3B	$14.7B	$15.7B	$17.3B
FOXA Jun	-	$9.9B	$10.2B	$11.4B	$12.3B	$12.9B	$14.0B	$14.9B	$14.0B	$16.3B
ECHO Dec	$1.8B	$1.9B	$1.8B	$1.9B	$1.9B	$19.8B	$18.6B	$17.0B	$15.8B	$15.0B
NWSA Jun	$8.3B	$8.1B	$9.0B	$10.1B	$9.0B	$9.4B	$10.4B	$8.0B	$8.3B	$8.5B
APP Dec	-	-	-	$994.1M	$1.5B	$2.8B	$2.8B	$1.8B	$3.2B	$5.5B
TTWO Mar	$1.4B	$1.8B	$1.8B	$2.7B	$3.1B	$3.4B	$3.5B	$5.3B	$5.3B	$5.6B
Peer median	$8.1B	$9.7B	$10.2B	$10.7B	$6.0B	$11.1B	$14.1B	$14.9B	$15.7B	$15.7B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	+30.3%	+32.4%	+35.1%	+27.6%	+24.0%	+18.8%	+6.5%	+6.7%	+15.6%	+15.9%
CHTR Dec	+197%	+43.4%	+4.9%	+4.9%	+5.1%	+7.5%	+4.5%	+1.1%	+0.9%	−0.6%
SKYD Dec	-	-	-	-	-	-	-	-	−1.5%	-
LYV Dec	+15.3%	+23.8%	+11.4%	+7.0%	−83.9%	+237%	+166%	+36.2%	+1.9%	+8.8%
OMC Dec	+1.9%	−0.9%	+0.1%	−2.2%	−11.9%	+8.5%	0.0%	+2.8%	+6.8%	+10.1%
FOXA Jun	-	-	+2.3%	+12.2%	+8.0%	+4.9%	+8.3%	+6.7%	−6.3%	+16.6%
ECHO Dec	−2.1%	+4.1%	+15.6%	+7.0%	+0.1%	+5.2%	−6.0%	−8.7%	−7.0%	−5.2%
NWSA Jun	-	−1.8%	+10.9%	+11.6%	−10.6%	+3.9%	+11.0%	−4.9%	+3.0%	+2.4%
APP Dec	-	-	-	-	+46.0%	+92.5%	+0.9%	+16.5%	+75.1%	+70.0%
TTWO Mar	-	+25.9%	+0.7%	+48.8%	+15.8%	+9.2%	+3.9%	+52.6%	0.0%	+5.3%
Peer median	+8.6%	+14.0%	+4.9%	+7.0%	+2.6%	+8.0%	+4.2%	+4.8%	+0.9%	+7.1%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	-	-	-	-	-	-	-	-	-	-
CHTR Dec	-	-	-	-	-	-	-	-	-	-
SKYD Dec	-	-	-	-	-	-	-	-	-	-
LYV Dec	-	-	-	-	-	-	-	-	-	-
OMC Dec	-	-	-	-	-	-	-	-	-	-
FOXA Jun	-	-	-	-	-	-	-	-	-	-
ECHO Dec	-	-	-	-	-	-	-	-	-	-
NWSA Jun	-	-	-	-	-	-	-	-	-	-
APP Dec	-	-	-	-	-	-	-	-	-	-
TTWO Mar	42.4%	42.5%	49.9%	42.9%	50.1%	54.5%	56.2%	42.7%	41.9%	54.4%
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	4.3%	7.2%	10.2%	12.9%	18.3%	20.9%	17.8%	20.6%	26.7%	29.5%
CHTR Dec	8.5%	9.9%	12.0%	14.2%	17.5%	20.4%	22.1%	23.0%	23.8%	23.6%
SKYD Dec	-	-	-	-	-	-	-	−1.5%	−18.0%	-
LYV Dec	2.5%	0.9%	2.5%	2.8%	−88.8%	−6.7%	4.3%	4.8%	3.6%	5.0%
OMC Dec	13.2%	13.6%	14.0%	14.2%	12.1%	15.4%	14.6%	14.3%	14.5%	2.6%
FOXA Jun	-	-	-	-	-	-	-	-	-	-
ECHO Dec	16.4%	1.6%	2.1%	3.9%	6.0%	17.3%	12.0%	−1.6%	−1.9%	−118.1%
NWSA Jun	-	-	-	-	-	-	-	-	-	-
APP Dec	-	-	-	19.6%	−4.3%	5.4%	−1.7%	41.9%	59.3%	75.8%
TTWO Mar	−0.8%	5.1%	7.6%	7.7%	13.8%	18.7%	13.5%	−21.8%	−67.1%	−77.9%
Peer median	8.5%	5.1%	7.6%	11.0%	9.0%	16.3%	12.7%	4.8%	3.6%	3.8%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	2.1%	4.8%	7.7%	9.3%	11.0%	17.2%	14.2%	16.0%	22.3%	24.3%
CHTR Dec	12.1%	23.8%	2.8%	3.6%	6.7%	9.0%	9.4%	8.3%	9.2%	9.1%
SKYD Dec	-	-	-	-	-	-	-	−2.1%	−21.2%	-
LYV Dec	0.0%	−0.1%	0.6%	0.6%	−92.7%	−10.4%	1.6%	2.5%	3.9%	2.0%
OMC Dec	7.5%	7.1%	8.7%	9.0%	7.2%	9.9%	9.2%	9.5%	9.4%	−0.3%
FOXA Jun	-	13.8%	21.5%	14.0%	8.1%	16.7%	8.6%	8.3%	10.7%	13.9%
ECHO Dec	9.9%	20.8%	−2.3%	−3.3%	−2.1%	12.5%	13.3%	−10.0%	−0.8%	−96.6%
NWSA Jun	2.2%	−9.1%	−16.8%	1.5%	−14.1%	3.5%	6.0%	1.9%	3.2%	14.0%
APP Dec	-	-	-	12.0%	−8.6%	1.3%	−6.8%	19.4%	49.0%	60.8%
TTWO Mar	−0.6%	3.8%	9.7%	12.5%	13.1%	17.5%	11.9%	−21.0%	−70.0%	−79.5%
Peer median	4.8%	7.1%	2.8%	6.3%	2.3%	9.4%	8.9%	2.5%	3.9%	5.5%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	−$1.6B	−$2.0B	−$2.9B	−$3.1B	$1.9B	−$132.0M	$1.6B	$6.9B	$6.9B	$9.5B
CHTR Dec	$2.7B	$3.3B	$2.6B	$4.6B	$7.1B	$8.6B	$5.5B	$3.3B	$3.2B	$4.4B
SKYD Dec	-	-	-	-	-	-	-	$147.0M	$489.0M	-
LYV Dec	$424.9M	$385.1M	$701.8M	$146.2M	−$1.3B	$1.6B	$1.5B	$924.4M	$1.1B	$333.6M
OMC Dec	$1.8B	$1.9B	$1.5B	$1.8B	$1.6B	$1.3B	$848.3M	$1.3B	$1.6B	$2.8B
FOXA Jun	-	$1.5B	$1.1B	$2.3B	$2.0B	$2.2B	$1.6B	$1.4B	$1.5B	$3.0B
ECHO Dec	$81.0M	$143.7M	$179.4M	$237.7M	$125.6M	$3.0B	$570.7M	−$668.3M	−$292.2M	−$1.1B
NWSA Jun	$622.0M	$238.0M	$393.0M	$356.0M	$342.0M	$847.0M	$855.0M	$745.0M	$741.0M	$571.0M
APP Dec	-	-	-	$195.1M	$219.6M	$360.5M	$412.1M	$1.1B	$2.1B	-
TTWO Mar	$224.0M	$386.7M	$432.0M	$776.5M	$632.3M	$843.4M	$99.4M	−$203.1M	−$157.8M	−$214.6M
Peer median	$523.5M	$386.7M	$701.8M	$566.3M	$487.1M	$1.5B	$851.6M	$924.4M	$1.1B	$571.0M

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	−17.9%	−16.8%	−18.1%	−15.6%	7.7%	−0.4%	5.1%	20.5%	17.7%	20.9%
CHTR Dec	9.4%	7.9%	6.1%	9.9%	14.9%	16.6%	10.3%	6.1%	5.7%	8.1%
SKYD Dec	-	-	-	-	-	-	-	0.5%	1.7%	-
LYV Dec	5.4%	4.0%	6.5%	1.3%	−69.7%	26.0%	8.9%	4.1%	4.7%	1.3%
OMC Dec	11.6%	12.2%	10.0%	11.7%	12.5%	9.0%	5.9%	9.1%	10.2%	16.1%
FOXA Jun	-	14.8%	10.9%	20.1%	16.3%	16.7%	11.3%	9.7%	10.7%	18.4%
ECHO Dec	4.5%	7.6%	10.2%	12.6%	6.7%	15.3%	3.1%	−3.9%	−1.8%	−7.1%
NWSA Jun	7.5%	2.9%	4.4%	3.5%	3.8%	9.1%	8.2%	9.3%	9.0%	6.8%
APP Dec	-	-	-	19.6%	15.1%	12.9%	14.6%	57.4%	65.0%	-
TTWO Mar	15.8%	21.7%	24.1%	29.1%	20.5%	25.0%	2.8%	−3.8%	−2.9%	−3.8%
Peer median	8.4%	7.9%	10.0%	12.2%	13.7%	16.0%	8.6%	6.1%	5.7%	6.8%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	7.0%	15.6%	23.1%	24.6%	25.0%	32.3%	21.6%	26.3%	35.2%	41.3%
CHTR Dec	8.8%	25.3%	3.4%	5.3%	13.5%	33.1%	55.4%	41.1%	32.6%	31.1%
SKYD Dec	-	-	-	-	-	-	-	−2.6%	−37.9%	-
LYV Dec	0.3%	−0.5%	5.5%	6.1%	n/m	n/m	n/m	n/m	n/m	183.0%
OMC Dec	53.1%	41.6%	52.1%	46.9%	30.7%	43.0%	40.5%	38.5%	35.3%	−0.5%
FOXA Jun	-	22.5%	22.8%	16.0%	9.9%	19.3%	10.6%	11.9%	14.0%	18.9%
ECHO Dec	4.6%	9.4%	−1.0%	−1.7%	−1.1%	74.1%	11.5%	−8.6%	−0.6%	n/m
NWSA Jun	1.5%	−6.8%	−16.3%	1.7%	−16.7%	4.0%	7.6%	1.8%	3.3%	13.4%
APP Dec	-	-	-	n/m	n/m	1.7%	−10.1%	28.4%	145.0%	156.2%
TTWO Mar	−1.4%	6.7%	11.7%	16.4%	15.9%	17.7%	11.0%	−12.4%	−66.1%	n/m
Peer median	3.1%	9.4%	5.5%	6.1%	11.7%	19.3%	11.0%	6.9%	8.6%	25.0%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	1.26	2.53	2.84	2.73	2.02	0.97	0.69	0.71	0.63	0.54
CHTR Dec	1.54	1.80	2.01	2.51	3.48	6.52	10.70	8.82	6.03	5.90
SKYD Dec	-	-	-	-	-	-	-	-	0.89	-
LYV Dec	2.05	1.95	2.56	2.89	n/m	n/m	n/m	n/m	n/m	n/m
OMC Dec	2.28	1.88	1.93	1.80	1.89	1.75	1.73	1.57	1.45	0.77
FOXA Jun	-	-	0.00	0.68	0.79	0.71	0.64	0.69	0.67	0.55
ECHO Dec	0.86	0.81	0.80	0.65	0.68	0.45	0.07	1.15	1.32	4.51
NWSA Jun	0.03	0.04	0.21	0.16	0.17	0.28	0.37	0.27	0.26	0.22
APP Dec	-	-	-	-	n/m	1.52	1.71	2.66	3.22	1.65
TTWO Mar	0.92	0.27	0.01	0.00	-	-	0.00	0.34	0.54	1.71
Peer median	1.23	1.30	0.80	0.68	0.79	1.12	0.64	1.15	1.10	1.65

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
NFLX Dec	$0.04	$0.12	$0.27	$0.41	$0.61	$1.12	$0.99	$1.20	$1.98	$2.53
CHTR Dec	$15.94	$34.09	$5.22	$7.45	$15.40	$24.47	$30.74	$29.99	$34.97	$36.21
SKYD Dec	-	-	-	-	-	-	-	−$1.02	−$9.34	-
LYV Dec	−$0.23	−$0.48	−$0.09	−$0.02	−$8.12	−$3.09	$0.52	$1.34	$2.74	−$0.24
OMC Dec	$4.78	$4.65	$5.83	$6.06	$4.37	$6.53	$6.36	$6.91	$7.46	−$0.27
FOXA Jun	-	$2.21	$3.52	$2.57	$1.62	$3.61	$2.11	$2.33	$3.13	$4.91
ECHO Dec	$1.92	$4.07	−$0.42	−$0.65	−$0.41	$7.94	$8.05	−$6.28	−$0.44	−$50.41
NWSA Jun	$0.30	−$1.27	−$2.60	$0.26	−$2.16	$0.56	$1.05	$0.26	$0.46	$2.07
APP Dec	-	-	-	$0.36	−$0.58	$0.09	−$0.52	$0.98	$4.53	$9.75
TTWO Mar	−$0.10	$0.72	$1.54	$2.90	$3.54	$5.09	$3.58	−$7.03	−$22.01	−$25.58
Peer median	$1.11	$2.21	$1.54	$1.46	$0.61	$4.35	$2.84	$0.98	$2.74	$0.91

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out NFLX and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on NFLX in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/NFLX/export.csv") into a cell.

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