Buyback yield (TTM)
1.69%
Shareholder yield (TTM)
1.69%
5Y share count change
-5.0%
Buyback spend (TTM)
$6.86B
Cumulative buybacks
$23.07B
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.
Dividend & buyback yield over time for Netflix (NFLX)
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.
Diluted vs basic shares (annual) for Netflix (NFLX)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Netflix (NFLX)
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.
Cash buyback spend over time for Netflix (NFLX)
Latest: $9.13B
Overview
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 $0.00 in 2003.
Netflix Buyback Spend 2025: $9.13B
In 2025, Netflix reported buyback spend of $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: $0.00
Netflix posted buyback spend of $0.00 in 2022, 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).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $9.13B | $368.45M | $8.76B | 2.30% | 4.32B | -1.7% | |
| 2024 | $6.26B | $272.59M | $5.99B | 1.64% | 4.39B | -2.3% | |
| 2023 | $6.05B | $339.37M | $5.71B | 2.81% | 4.49B | -0.4% | |
| 2022 | $0.00 | $575.45M | −$575.45M | — | 4.51B | -0.9% | |
| 2021 | $600.02M | $403.22M | $196.80M | 0.22% | 4.55B | +0.3% | |
| 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 | 5.38% | 3.81B | +0.1% | |
| 2010 | $210.26M | $28.00M | $182.26M | 2.28% | 3.80B | -7.0% | |
| 2009 | $324.33M | $12.62M | $311.72M | 11.13% | 4.09B | -7.0% | |
| 2008 | $199.90M | $12.26M | $187.64M | 11.39% | 4.40B | -8.8% | |
| 2007 | $99.86M | $11.98M | $87.88M | 5.98% | 4.82B | -0.3% | |
| 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 | 0.00% | 3.95B | +286.1% | |
| 2001 | $12.00K | $0.00 | $12.00K | — | 1.02B | — |
- 2025$9.13B
- 2024$6.26B
- 2023$6.05B
- 2022$0.00
- 2021$600.02M
- 2020$0.00
- 2019$0.00
- 2018$0.00
- 2017$0.00
- 2016$0.00
- 2015$0.00
- 2014$0.00
- 2013$0.00
- 2012$0.00
- 2011$199.67M
- 2010$210.26M
- 2009$324.33M
- 2008$199.90M
- 2007$99.86M
- 2006$0.00
- 2005$0.00
- 2004$0.00
- 2003$0.00
- 2002$6.00K
- 2001$12.00K
Buybacks vs stock-based compensation for Netflix (NFLX)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 15.71×.
Buybacks vs dividends (share of cash returned) for Netflix (NFLX)
How Netflix splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Netflix, ranked by their latest buyback spend.
| $45.71B | |
| $26.25B | |
| $9.97B | |
| $7.16B | |
| $4.50B | |
| $3.50B | |
| $510.99M | |
| $0.00 |
- $45.71B
- $26.25B
- $9.97B
- $7.16B
- $4.50B
- $3.50B
- $510.99M
- $0.00
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).
Frequently asked questions
Data & methodology
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