Netflix (NFLX) FY2015 results: revenue $6.8 billion, up 23.2% on the year
Netflix Inc. (NFLX) reported revenue of $6.8 billion for fiscal 2015, the year ended 31 December 2015, up 23.2% on the year before. Net income was $123 million, down 54.0%, and diluted earnings per share $0.03. The figures are the company's own, from the 10-K it filed with the SEC on 28 January 2016.
Revenue
$6.8 billion
+23.2% on the year
FY2008FY2015
Operating margin
4.5%
7.3% a year earlier
FY2008FY2015
Net income
$123 million
-54.0% on the year
FY2008FY2015
Diluted EPS
$0.03
-54.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
6,780
5,505
4,375
+23.2%
Cost of revenue
4,591
3,753
3,117
+22.3%
Gross profit
2,188
1,752
1,257
+24.9%
Gross margin
32.3%
31.8%
28.7%
Research and development
570
398
379
+43.1%
Operating income
306
403
228
-24.0%
Operating margin
4.5%
7.3%
5.2%
Interest expense
133
50.2
29.1
+164.3%
Pre-tax income
142
349
171
-59.4%
Income tax
19.2
82.6
58.7
-76.7%
Effective tax rate
13.6%
23.6%
34.3%
Net income
123
267
112
-54.0%
Net margin
1.8%
4.8%
2.6%
Diluted EPS
$0.03
$0.06
$0.03
-54.6%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
-749
16.5
97.8
Capital expenditure
91.2
69.7
54.1
+30.9%
Free cash flow
-841
-53.2
43.7
Free cash flow margin
-12.4%
-1.0%
1.0%
Cash from investing
-179
-42.9
-256
Cash from financing
1,640
542
476
+202.8%
Depreciation and amortisation
62.3
54.0
48.4
+15.3%
Share-based compensation
125
115
73.1
+8.2%
Buybacks
n/a
n/a
0.0
Diluted shares, weighted
4,365m
4,319m
4,253m
+1.1%
Shares outstanding at period end
4,279m
4,229m
4,172m
+1.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,223
1,858
1,334
+19.7%
Debt
2,371
886
500
+167.7%
Other liabilities
5,608
4,299
3,579
+30.5%
Total liabilities and equity
10,203
7,042
5,413
+44.9%
Fixed assets
173
150
134
+15.7%
Investments
501
495
595
+1.3%
Cash and equivalents
1,809
1,114
605
+62.5%
Other assets
7,719
5,284
4,079
+46.1%
Total assets
10,203
7,042
5,413
+44.9%
10-K for the year ended 31 December 2015, filed 28 January 2016: the filing.