Netflix (NFLX) FY2023 results: revenue $33.7 billion, up 6.7% on the year
Netflix Inc. (NFLX) reported revenue of $33.7 billion for fiscal 2023, the year ended 31 December 2023, up 6.7% on the year before. Net income was $5.4 billion, up 20.4%, and diluted earnings per share $1.20. The figures are the company's own, from the 10-K it filed with the SEC on 26 January 2024.
Revenue
$33.7 billion
+6.7% on the year
FY2016FY2023
Operating margin
20.6%
17.8% a year earlier
FY2016FY2023
Net income
$5.4 billion
+20.4% on the year
FY2016FY2023
Diluted EPS
$1.20
+20.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
7,274
2,026
393
+259.0%
Capital expenditure
349
408
525
-14.5%
Free cash flow
6,926
1,619
-132
+327.9%
Free cash flow margin
20.5%
5.1%
-0.4%
Cash from investing
542
-2,076
-1,340
Cash from financing
-5,951
-664
-1,150
Depreciation and amortisation
357
337
208
+6.0%
Share-based compensation
339
575
403
-41.0%
Buybacks
6,045
0.0
600
Diluted shares, weighted
4,495m
4,513m
4,554m
-0.4%
Shares outstanding at period end
4,328m
4,453m
4,440m
-2.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
20,588
20,777
15,849
-0.9%
Short-term borrowings
n/a
0.0
n/a
Debt
14,543
14,353
15,393
+1.3%
Operating lease liabilities
2,047
2,223
2,408
-7.9%
Other liabilities
11,554
11,242
10,934
+2.8%
Total liabilities and equity
48,732
48,595
44,585
+0.3%
Fixed assets
1,491
1,398
1,323
+6.7%
Investments
21.0
911
0.0
-97.7%
Cash and equivalents
7,117
5,147
6,028
+38.3%
Other assets
40,103
41,138
37,233
-2.5%
Total assets
48,732
48,595
44,585
+0.3%
10-K for the year ended 31 December 2023, filed 26 January 2024: the filing.