Netflix (NFLX) FY2011 results: revenue $3.2 billion, up 48.2% on the year
Netflix Inc. (NFLX) reported revenue of $3.2 billion for fiscal 2011, the year ended 31 December 2011, up 48.2% on the year before. Net income was $226 million, up 40.6%, and diluted earnings per share $0.06. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2012.
Revenue
$3.2 billion
+48.2% on the year
FY2007FY2011
Operating margin
11.7%
13.1% a year earlier
FY2007FY2011
Net income
$226 million
+40.6% on the year
FY2007FY2011
Diluted EPS
$0.06
+40.4% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
3,205
2,163
1,670
+48.2%
Cost of revenue
2,040
1,357
1,079
+50.3%
Gross profit
1,165
805
591
+44.6%
Gross margin
36.3%
37.2%
35.4%
Research and development
259
163
115
+58.6%
Operating income
376
284
192
+32.6%
Operating margin
11.7%
13.1%
11.5%
Interest expense
20.0
19.6
6.5
+2.0%
Pre-tax income
360
268
192
+34.3%
Income tax
133
107
76.3
+24.9%
Effective tax rate
37.1%
39.9%
39.7%
Net income
226
161
116
+40.6%
Net margin
7.1%
7.4%
6.9%
Diluted EPS
$0.06
$0.04
$0.03
+40.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
318
276
325
+14.9%
Capital expenditure
49.7
33.8
45.9
+46.8%
Free cash flow
268
243
279
+10.5%
Free cash flow margin
8.4%
11.2%
16.7%
Cash from investing
-266
-116
-246
Cash from financing
262
-100
-84.6
Depreciation and amortisation
43.7
38.1
38.0
+14.8%
Share-based compensation
61.6
28.0
12.6
+120.0%
Buybacks
200
210
324
-5.0%
Diluted shares, weighted
3,806m
3,801m
4,089m
+0.1%
Shares outstanding at period end
3,878m
3,695m
3,741m
+5.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
643
290
199
+121.5%
Debt
200
200
200
0.0%
Other liabilities
2,226
492
281
+352.6%
Total liabilities and equity
3,069
982
680
+212.5%
Fixed assets
136
129
132
+6.1%
Investments
290
156
186
+85.9%
Cash and equivalents
508
194
134
+161.2%
Other assets
2,135
503
228
+324.4%
Total assets
3,069
982
680
+212.5%
10-K for the year ended 31 December 2011, filed 10 February 2012: the filing.