Netflix (NFLX) FY2017 results: revenue $11.7 billion, up 32.4% on the year
Netflix Inc. (NFLX) reported revenue of $11.7 billion for fiscal 2017, the year ended 31 December 2017, up 32.4% on the year before. Net income was $559 million, up 199.4%, and diluted earnings per share $0.12. The figures are the company's own, from the 10-K it filed with the SEC on 29 January 2018.
Revenue
$11.7 billion
+32.4% on the year
FY2010FY2017
Operating margin
7.2%
4.3% a year earlier
FY2010FY2017
Net income
$559 million
+199.4% on the year
FY2010FY2017
Diluted EPS
$0.12
+190.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
11,693
8,831
6,780
+32.4%
Cost of revenue
8,033
6,257
4,591
+28.4%
Gross profit
3,660
2,573
2,188
+42.2%
Gross margin
31.3%
29.1%
32.3%
Research and development
981
768
570
+27.7%
Operating income
839
380
306
+120.8%
Operating margin
7.2%
4.3%
4.5%
Interest expense
238
150
133
+58.7%
Pre-tax income
485
261
142
+86.3%
Income tax
-73.6
73.8
19.2
Effective tax rate
-15.2%
28.3%
13.6%
Net income
559
187
123
+199.4%
Net margin
4.8%
2.1%
1.8%
Diluted EPS
$0.12
$0.04
$0.03
+190.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-1,786
-1,474
-749
Capital expenditure
173
108
91.2
+61.0%
Free cash flow
-1,959
-1,582
-841
Free cash flow margin
-16.8%
-17.9%
-12.4%
Cash from investing
34.3
49.8
-179
-31.0%
Cash from financing
3,077
1,092
1,640
+181.9%
Depreciation and amortisation
71.9
57.5
62.3
+25.0%
Share-based compensation
182
174
125
+4.9%
Diluted shares, weighted
4,468m
4,387m
4,365m
+1.9%
Shares outstanding at period end
4,334m
4,301m
4,279m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,582
2,680
2,223
+33.7%
Debt
9,049
3,364
2,371
+169.0%
Other liabilities
6,382
7,542
5,608
-15.4%
Total liabilities and equity
19,013
13,587
10,203
+39.9%
Fixed assets
319
250
173
+27.6%
Investments
0.0
266
501
Cash and equivalents
2,823
1,468
1,809
+92.3%
Other assets
15,871
11,602
7,719
+36.8%
Total assets
19,013
13,587
10,203
+39.9%
10-K for the year ended 31 December 2017, filed 29 January 2018: the filing.