Netflix (NFLX) FY2012 results: revenue $3.6 billion, up 12.6% on the year
Netflix Inc. (NFLX) reported revenue of $3.6 billion for fiscal 2012, the year ended 31 December 2012, up 12.6% on the year before. Net income was $17 million, down 92.4%, and diluted earnings per share $0.00. The figures are the company's own, from the 10-K it filed with the SEC on 1 February 2013.
Revenue
$3.6 billion
+12.6% on the year
FY2007FY2012
Operating margin
1.4%
11.7% a year earlier
FY2007FY2012
Net income
$17 million
-92.4% on the year
FY2007FY2012
Diluted EPS
$0.00
-93.1% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
3,609
3,205
2,163
+12.6%
Cost of revenue
2,652
2,040
1,357
+30.0%
Gross profit
957
1,165
805
-17.8%
Gross margin
26.5%
36.3%
37.2%
Research and development
329
259
163
+27.0%
Operating income
50.0
376
284
-86.7%
Operating margin
1.4%
11.7%
13.1%
Interest expense
20.0
20.0
19.6
-0.2%
Pre-tax income
30.5
360
268
-91.5%
Income tax
13.3
133
107
-90.0%
Effective tax rate
43.7%
37.1%
39.9%
Net income
17.2
226
161
-92.4%
Net margin
0.5%
7.1%
7.4%
Diluted EPS
$0.00
$0.06
$0.04
-93.1%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
21.6
318
276
-93.2%
Capital expenditure
40.3
49.7
33.8
-18.9%
Free cash flow
-18.7
268
243
Free cash flow margin
-0.5%
8.4%
11.2%
Cash from investing
-245
-266
-116
Cash from financing
5.6
262
-100
-97.9%
Depreciation and amortisation
45.5
43.7
38.1
+3.9%
Share-based compensation
73.9
61.6
28.0
+20.1%
Buybacks
0.0
200
210
Diluted shares, weighted
4,123m
3,806m
3,801m
+8.3%
Shares outstanding at period end
3,878m
3,878m
3,695m
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
745
643
290
+15.8%
Debt
200
200
200
0.0%
Other liabilities
3,023
2,226
492
+35.8%
Total liabilities and equity
3,968
3,069
982
+29.3%
Fixed assets
132
136
129
-3.4%
Investments
458
290
156
+58.0%
Cash and equivalents
290
508
194
-42.9%
Other assets
3,088
2,135
503
+44.6%
Total assets
3,968
3,069
982
+29.3%
10-K for the year ended 31 December 2012, filed 1 February 2013: the filing.