Netflix (NFLX) Stock Buyback History
TTM buyback yield 1.69% · Shareholder yield (TTM) 1.69%.
NFLX
TTM buyback yield
1.69%
Shareholder yield (TTM)
1.69%
5Y share count change
-5.0%
TTM buyback spend
$6.86B
SBC coverage (TTM)
15.71x
YoY change in spend
+45.7%
5Y CAGR of spend
N/A
Peak year (2025)
$9.13B
Cumulative spend
$23.07B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Netflix (NFLX) repurchased about $6.86B of stock over the trailing twelve months.
- Diluted share count is down 5.0% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 15.71× — repurchases more than cover SBC dilution.
- TTM repurchases used about 58% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $9.13B | $368.45M | $8.76B | 4.32B | -1.7% | 2.30% |
| 2024 | $6.26B | $272.59M | $5.99B | 4.39B | -2.3% | 1.64% |
| 2023 | $6.05B | $339.37M | $5.71B | 4.49B | -0.4% | 2.81% |
| 2022 | $0.00 | $575.45M | −$575.45M | 4.51B | -0.9% | — |
| 2021 | $600.02M | $403.22M | $196.80M | 4.55B | 0.3% | 0.22% |
| 2020 | $0.00 | $415.18M | −$415.18M | 4.54B | 0.5% | — |
| 2019 | $0.00 | $405.38M | −$405.38M | 4.52B | 0.1% | — |
| 2018 | $0.00 | $320.66M | −$320.66M | 4.51B | 1.0% | — |
| 2017 | $0.00 | $182.21M | −$182.21M | 4.47B | 1.9% | — |
| 2016 | $0.00 | $173.68M | −$173.68M | 4.39B | 0.5% | — |
| 2015 | $0.00 | $124.72M | −$124.72M | 4.36B | 1.1% | — |
| 2014 | $0.00 | $115.24M | −$115.24M | 4.32B | 1.5% | — |
| 2013 | $0.00 | $73.10M | −$73.10M | 4.25B | 3.2% | — |
| 2012 | $0.00 | $73.95M | −$73.95M | 4.12B | 8.3% | — |
| 2011 | $199.67M | $61.58M | $138.08M | 3.81B | 0.1% | 5.38% |
| 2010 | $210.26M | $28.00M | $182.26M | 3.80B | -7.0% | 2.28% |
| 2009 | $324.33M | $12.62M | $311.72M | 4.09B | -7.0% | 11.13% |
| 2008 | $199.90M | $12.26M | $187.64M | 4.40B | -8.8% | 11.39% |
| 2007 | $99.86M | $11.98M | $87.88M | 4.82B | -0.3% | 5.98% |
| 2006 | $0.00 | $14.33M | −$14.33M | 4.84B | 5.4% | — |
| 2005 | $0.00 | $14.33M | −$14.33M | 4.59B | 1.2% | — |
| 2004 | $0.00 | $16.59M | −$16.59M | 4.53B | -48.5% | — |
| 2003 | $0.00 | $0.00 | $0.00 | 8.80B | 123.0% | — |
| 2002 | $6.00K | $9.83M | −$9.82M | 3.95B | 286.1% | 0.00% |
| 2001 | $12.00K | $0.00 | $12.00K | 1.02B | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Netflix (NFLX) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Netflix (NFLX)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Netflix (NFLX)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $9.13B | +45.7% | +$2.86B | ||
| 2024 | $6.26B | +3.6% | +$218.40M | ||
| 2023 | $6.05B | — | +$6.05B | ||
| 2022 | $0 | -100.0% | -$600.02M | ||
| 2021 | $600.02M | — | +$600.02M | ||
| 2020 | $0 | — | $0 | ||
| 2019 | $0 | — | $0 | ||
| 2018 | $0 | — | $0 | ||
| 2017 | $0 | — | $0 | ||
| 2016 | $0 | — | $0 | ||
| 2015 | $0 | — | $0 | ||
| 2014 | $0 | — | $0 | ||
| 2013 | $0 | — | $0 | ||
| 2012 | $0 | -100.0% | -$199.67M | ||
| 2011 | $199.67M | -5.0% | -$10.59M | ||
| 2010 | $210.26M | -35.2% | -$114.08M | ||
| 2009 | $324.33M | +62.2% | +$124.43M | ||
| 2008 | $199.90M | +100.2% | +$100.04M | ||
| 2007 | $99.86M | — | +$99.86M | ||
| 2006 | $0 | — | $0 | ||
| 2005 | $0 | — | $0 | ||
| 2004 | $0 | — | $0 | ||
| 2003 | $0 | -100.0% | -$6,000 | ||
| 2002 | $6,000 | -50.0% | -$6,000 | ||
| 2001 | $12,000 | — | — |
As of the 2025 fiscal year, Netflix (NFLX) reported buyback spend of $9.13B – surged 45.7% year-over-year.
The highest annual buyback spend of $9.13B was reported in 2025. The lowest in the available history was $0 in 2003.
Netflix (NFLX) sits 4th of 8 Communication Services peers we track on this metric, against a peer median of $5.83B.
Netflix Buyback Spend 2025: $9.13B
Netflix buyback spend in 2025 was $9.13B, surged 45.7% from 2024. This figure represents the highest annual value in the available history.
Netflix Buyback Spend 2024: $6.26B
Netflix buyback spend in 2024 was $6.26B, edged up 3.6% from 2023.
Netflix Buyback Spend 2023: $6.05B
Netflix buyback spend in 2023 was $6.05B.
Netflix Buyback Spend 2022: $0
Netflix buyback spend in 2022 was $0, plunged 100.0% below 2021.
Netflix Buyback Spend 2021: $600.02M
Netflix buyback spend in 2021 was $600.02M.
See more financial history for Netflix (NFLX).
Sector peers by buyback spend
Companies in the same sector as Netflix, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| Alphabet (GOOGL) | $45.71B | Communication Services |
| Meta (META) | $26.25B | Communication Services |
| T-Mobile US (TMUS) | $9.97B | Communication Services |
| Comcast (CMCSA) | $7.16B | Communication Services |
| AT&T (T) | $4.50B | Communication Services |
| Walt Disney (DIS) | $3.50B | Communication Services |
| Spotify (SPOT) | $439.00M | Communication Services |
| Verizon (VZ) | $0 | Communication Services |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 15.71×.
Capital allocation mix
How Netflix splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $11.89B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Netflix's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Netflix buy back its own stock?
Yes, Netflix (NFLX) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Netflix spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $6.86B (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Netflix's buyback yield?
TTM buyback yield is about 1.69% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Netflix's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 1.69% combined (TTM-based where available).
Is Netflix diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Netflix's share count changed?
Diluted weighted average shares changed by about -5.0% over roughly five fiscal years (annual income statement data).
What is Netflix's buyback spend?
Latest reported buyback spend for Netflix (NFLX) is $6.86B (period ending March 31, 2026).
How has Netflix buyback spend changed year-over-year?
Netflix (NFLX) buyback spend changed +45.7% year-over-year on the latest annual filing.
When did Netflix buyback spend hit its highest annual value?
Netflix buyback spend reached its highest annual value of $9.13B in 2025.
What was Netflix buyback spend in 2024?
Netflix (NFLX) buyback spend in 2024 was $6.26B.
What was Netflix buyback spend in 2025?
Netflix (NFLX) buyback spend in 2025 was $9.13B.
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