Netflix (NFLX) FY2016 results: revenue $8.8 billion, up 30.3% on the year
Netflix Inc. (NFLX) reported revenue of $8.8 billion for fiscal 2016, the year ended 31 December 2016, up 30.3% on the year before. Net income was $187 million, up 52.2%, and diluted earnings per share $0.04. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2017.
Revenue
$8.8 billion
+30.3% on the year
FY2009FY2016
Operating margin
4.3%
4.5% a year earlier
FY2009FY2016
Net income
$187 million
+52.2% on the year
FY2009FY2016
Diluted EPS
$0.04
+53.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
8,831
6,780
5,505
+30.3%
Cost of revenue
6,257
4,591
3,753
+36.3%
Gross profit
2,573
2,188
1,752
+17.6%
Gross margin
29.1%
32.3%
31.8%
Research and development
768
570
398
+34.8%
Operating income
380
306
403
+24.2%
Operating margin
4.3%
4.5%
7.3%
Interest expense
150
133
50.2
+13.1%
Pre-tax income
261
142
349
+83.6%
Income tax
73.8
19.2
82.6
+283.6%
Effective tax rate
28.3%
13.6%
23.6%
Net income
187
123
267
+52.2%
Net margin
2.1%
1.8%
4.8%
Diluted EPS
$0.04
$0.03
$0.06
+53.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
-1,474
-749
16.5
Capital expenditure
108
91.2
69.7
+18.0%
Free cash flow
-1,582
-841
-53.2
Free cash flow margin
-17.9%
-12.4%
-1.0%
Cash from investing
49.8
-179
-42.9
Cash from financing
1,092
1,640
542
-33.4%
Depreciation and amortisation
57.5
62.3
54.0
-7.6%
Share-based compensation
174
125
115
+39.2%
Diluted shares, weighted
4,387m
4,365m
4,319m
+0.5%
Shares outstanding at period end
4,301m
4,279m
4,229m
+0.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,680
2,223
1,858
+20.5%
Debt
3,364
2,371
886
+41.9%
Other liabilities
7,542
5,608
4,299
+34.5%
Total liabilities and equity
13,587
10,203
7,042
+33.2%
Fixed assets
250
173
150
+44.4%
Investments
266
501
495
-46.9%
Cash and equivalents
1,468
1,809
1,114
-18.9%
Other assets
11,602
7,719
5,284
+50.3%
Total assets
13,587
10,203
7,042
+33.2%
10-K for the year ended 31 December 2016, filed 27 January 2017: the filing.