TTM
72.7%
YoY change
−0.51pp
Trough year (2000)
-162.9%
Peak year (2024)
67.5%
Latest annual
67.0%
EBITDA Margin history chart for Netflix (NFLX) from 2000 to 2025
Latest: 67.0%
EBITDA Margin change chart for Netflix (NFLX) from 2000 to 2025
Latest: −0.51pp
EBITDA Margin history table for Netflix (NFLX) from 2000 to 2025
| 2025 | 67.0% | -0.51pp | ||
| 2024 | 67.5% | +3.69pp | ||
| 2023 | 63.8% | -0.53pp | ||
| 2022 | 64.3% | +0.19pp | ||
| 2021 | 64.1% | +2.09pp | ||
| 2020 | 62.0% | +2.47pp | ||
| 2019 | 59.6% | +0.93pp | ||
| 2018 | 58.6% | -2.15pp | ||
| 2017 | 60.8% | +0.37pp | ||
| 2016 | 60.4% | +3.59pp | ||
| 2015 | 56.8% | -1.02pp | ||
| 2014 | 57.9% | +1.96pp | ||
| 2013 | 55.9% | +7.33pp | ||
| 2012 | 48.6% | +10.51pp | ||
| 2011 | 38.0% | +9.10pp | ||
| 2010 | 28.9% | +14.78pp | ||
| 2009 | 14.2% | -13.39pp | ||
| 2008 | 27.6% | +1.34pp | ||
| 2007 | 26.2% | +4.00pp | ||
| 2006 | 22.2% | +6.11pp | ||
| 2005 | 16.1% | -5.12pp | ||
| 2004 | 21.2% | +0.87pp | ||
| 2003 | 20.4% | +10.03pp | ||
| 2002 | 10.3% | +19.99pp | ||
| 2001 | -9.6% | +153.24pp | ||
| 2000 | -162.9% | — |
- 202567.0%-0.51pp
- 202467.5%+3.69pp
- 202363.8%-0.53pp
- 202264.3%+0.19pp
- 202164.1%+2.09pp
- 202062.0%+2.47pp
- 201959.6%+0.93pp
- 201858.6%-2.15pp
- 201760.8%+0.37pp
- 201660.4%+3.59pp
- 201556.8%-1.02pp
- 201457.9%+1.96pp
- 201355.9%+7.33pp
- 201248.6%+10.51pp
- 201138.0%+9.10pp
- 201028.9%+14.78pp
- 200914.2%-13.39pp
- 200827.6%+1.34pp
- 200726.2%+4.00pp
- 200622.2%+6.11pp
- 200516.1%-5.12pp
- 200421.2%+0.87pp
- 200320.4%+10.03pp
- 200210.3%+19.99pp
- 2001-9.6%+153.24pp
- 2000-162.9%—
EBITDA Margin values are taken from Netflix's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About EBITDA Margin at Netflix (NFLX)
According to Netflix's latest reported financial statements, the company's latest reported EBITDA margin is 72.7%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, Netflix (NFLX) EBITDA margin totalled 66.96% – contracted 0.5 percentage points year-over-year.
The record annual EBITDA margin stands at 67.47%, reached in 2024; the historical low of -162.89% was recorded in 2000.
Netflix EBITDA Margin by Year
Netflix EBITDA Margin 2025: 67.0%
In 2025, Netflix reported EBITDA margin of 66.96%, contracted 0.5 percentage points from 2024.
Netflix EBITDA Margin 2024: 67.5%
Netflix EBITDA margin in 2024 was 67.47%, expanded 3.7 percentage points from 2023. This figure represents the highest annual value in the available history.
Netflix EBITDA Margin 2023: 63.8%
2023's EBITDA margin for Netflix came in at 63.78%, contracted 0.5 percentage points from 2022.
Netflix EBITDA Margin 2022: 64.3%
Netflix posted EBITDA margin of 64.31% in 2022, expanded 0.2 percentage points from 2021.
Netflix EBITDA Margin 2021: 64.1%
Netflix EBITDA margin in 2021 was 64.13%.
See more financial history for Netflix (NFLX).
Sector peers by EBITDA Margin
Communication Services peers of Netflix (NFLX), ranked by their latest EBITDA margin
| 52.8% | |
| 51.8% | |
| 42.3% | |
| 35.7% | |
| 35.0% | |
| 31.1% | |
| 21.3% | |
| 17.0% |
- 52.8%
- 51.8%
- 42.3%
- 35.7%
- 35.0%
- 31.1%
- 21.3%
- 17.0%
Frequently asked questions
Netflix (NFLX) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation