Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Netflix Inc., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Netflix Inc. debt to equity ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Netflix Inc. debt to capital ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Netflix Inc. debt to assets ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Netflix Inc. financial leverage ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Netflix Inc. interest coverage ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity
Netflix Inc., debt to equity calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Short-term debt | 798,936) | 399,844) | 399,614) | 399,387) | 399,163) | —) | —) | —) | —) | 699,823) | 699,473) | 699,128) | 698,788) | 499,878) | 499,517) | 499,161) | 498,809) | —) | —) | —) | —) | |||||||
| Long-term debt | 13,217,038) | 14,143,417) | 13,900,754) | 14,070,151) | 14,037,965) | 14,353,076) | 13,888,117) | 14,233,303) | 14,534,561) | 14,693,072) | 14,793,691) | 14,926,889) | 14,860,552) | 15,809,095) | 15,547,616) | 15,294,998) | 14,170,692) | 14,759,260) | 12,425,746) | 12,594,135) | 10,305,023) | |||||||
| Total debt | 14,015,974) | 14,543,261) | 14,300,368) | 14,469,538) | 14,437,128) | 14,353,076) | 13,888,117) | 14,233,303) | 14,534,561) | 15,392,895) | 15,493,164) | 15,626,017) | 15,559,340) | 16,308,973) | 16,047,133) | 15,794,159) | 14,669,501) | 14,759,260) | 12,425,746) | 12,594,135) | 10,305,023) | |||||||
| Stockholders’ equity | 21,365,410) | 20,588,313) | 22,107,627) | 22,832,215) | 21,828,196) | 20,777,401) | 20,528,141) | 19,075,974) | 17,544,039) | 15,849,248) | 15,314,617) | 13,863,871) | 12,884,080) | 11,065,240) | 10,333,323) | 9,334,753) | 8,409,294) | 7,582,157) | 6,861,505) | 6,105,548) | 5,703,058) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 0.66 | 0.71 | 0.65 | 0.63 | 0.66 | 0.69 | 0.68 | 0.75 | 0.83 | 0.97 | 1.01 | 1.13 | 1.21 | 1.47 | 1.55 | 1.69 | 1.74 | 1.95 | 1.81 | 2.06 | 1.81 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| Alphabet Inc. | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | |||||||
| Comcast Corp. | 1.17 | 1.17 | 1.18 | 1.16 | 1.16 | 1.17 | 1.15 | 1.02 | 1.00 | 0.99 | 1.01 | 1.04 | 1.12 | 1.15 | 1.21 | 1.25 | 1.27 | 1.24 | 1.29 | 1.40 | 1.46 | |||||||
| Meta Platforms Inc. | 0.12 | 0.12 | 0.13 | 0.14 | 0.08 | 0.08 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Walt Disney Co. | 0.47 | 0.47 | 0.48 | 0.50 | 0.50 | 0.51 | 0.56 | 0.57 | 0.60 | 0.61 | 0.64 | 0.66 | 0.69 | 0.70 | 0.75 | 0.61 | 0.54 | 0.53 | 0.64 | 0.63 | 0.41 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 14,015,974 ÷ 21,365,410 = 0.66
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Netflix Inc. debt to equity ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Debt to Capital
Netflix Inc., debt to capital calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Short-term debt | 798,936) | 399,844) | 399,614) | 399,387) | 399,163) | —) | —) | —) | —) | 699,823) | 699,473) | 699,128) | 698,788) | 499,878) | 499,517) | 499,161) | 498,809) | —) | —) | —) | —) | |||||||
| Long-term debt | 13,217,038) | 14,143,417) | 13,900,754) | 14,070,151) | 14,037,965) | 14,353,076) | 13,888,117) | 14,233,303) | 14,534,561) | 14,693,072) | 14,793,691) | 14,926,889) | 14,860,552) | 15,809,095) | 15,547,616) | 15,294,998) | 14,170,692) | 14,759,260) | 12,425,746) | 12,594,135) | 10,305,023) | |||||||
| Total debt | 14,015,974) | 14,543,261) | 14,300,368) | 14,469,538) | 14,437,128) | 14,353,076) | 13,888,117) | 14,233,303) | 14,534,561) | 15,392,895) | 15,493,164) | 15,626,017) | 15,559,340) | 16,308,973) | 16,047,133) | 15,794,159) | 14,669,501) | 14,759,260) | 12,425,746) | 12,594,135) | 10,305,023) | |||||||
| Stockholders’ equity | 21,365,410) | 20,588,313) | 22,107,627) | 22,832,215) | 21,828,196) | 20,777,401) | 20,528,141) | 19,075,974) | 17,544,039) | 15,849,248) | 15,314,617) | 13,863,871) | 12,884,080) | 11,065,240) | 10,333,323) | 9,334,753) | 8,409,294) | 7,582,157) | 6,861,505) | 6,105,548) | 5,703,058) | |||||||
| Total capital | 35,381,384) | 35,131,574) | 36,407,995) | 37,301,753) | 36,265,324) | 35,130,477) | 34,416,258) | 33,309,277) | 32,078,600) | 31,242,143) | 30,807,781) | 29,489,888) | 28,443,420) | 27,374,213) | 26,380,456) | 25,128,912) | 23,078,795) | 22,341,417) | 19,287,251) | 18,699,683) | 16,008,081) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.40 | 0.41 | 0.39 | 0.39 | 0.40 | 0.41 | 0.40 | 0.43 | 0.45 | 0.49 | 0.50 | 0.53 | 0.55 | 0.60 | 0.61 | 0.63 | 0.64 | 0.66 | 0.64 | 0.67 | 0.64 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| Alphabet Inc. | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | |||||||
| Comcast Corp. | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.51 | 0.50 | 0.50 | 0.50 | 0.51 | 0.53 | 0.53 | 0.55 | 0.56 | 0.56 | 0.55 | 0.56 | 0.58 | 0.59 | |||||||
| Meta Platforms Inc. | 0.11 | 0.11 | 0.11 | 0.12 | 0.07 | 0.07 | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Walt Disney Co. | 0.32 | 0.32 | 0.33 | 0.33 | 0.33 | 0.34 | 0.36 | 0.36 | 0.38 | 0.38 | 0.39 | 0.40 | 0.41 | 0.41 | 0.43 | 0.38 | 0.35 | 0.35 | 0.39 | 0.39 | 0.29 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 14,015,974 ÷ 35,381,384 = 0.40
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Netflix Inc. debt to capital ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Debt to Assets
Netflix Inc., debt to assets calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Short-term debt | 798,936) | 399,844) | 399,614) | 399,387) | 399,163) | —) | —) | —) | —) | 699,823) | 699,473) | 699,128) | 698,788) | 499,878) | 499,517) | 499,161) | 498,809) | —) | —) | —) | —) | |||||||
| Long-term debt | 13,217,038) | 14,143,417) | 13,900,754) | 14,070,151) | 14,037,965) | 14,353,076) | 13,888,117) | 14,233,303) | 14,534,561) | 14,693,072) | 14,793,691) | 14,926,889) | 14,860,552) | 15,809,095) | 15,547,616) | 15,294,998) | 14,170,692) | 14,759,260) | 12,425,746) | 12,594,135) | 10,305,023) | |||||||
| Total debt | 14,015,974) | 14,543,261) | 14,300,368) | 14,469,538) | 14,437,128) | 14,353,076) | 13,888,117) | 14,233,303) | 14,534,561) | 15,392,895) | 15,493,164) | 15,626,017) | 15,559,340) | 16,308,973) | 16,047,133) | 15,794,159) | 14,669,501) | 14,759,260) | 12,425,746) | 12,594,135) | 10,305,023) | |||||||
| Total assets | 48,827,721) | 48,731,992) | 49,501,786) | 50,817,473) | 49,490,345) | 48,594,768) | 47,562,187) | 46,350,935) | 45,330,904) | 44,584,663) | 42,739,857) | 40,970,969) | 40,123,014) | 39,280,359) | 38,622,543) | 37,175,281) | 35,059,910) | 33,975,712) | 30,941,711) | 30,171,339) | 27,218,632) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.29 | 0.30 | 0.29 | 0.28 | 0.29 | 0.30 | 0.29 | 0.31 | 0.32 | 0.35 | 0.36 | 0.38 | 0.39 | 0.42 | 0.42 | 0.42 | 0.42 | 0.43 | 0.40 | 0.42 | 0.38 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| Alphabet Inc. | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | |||||||
| Comcast Corp. | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.36 | 0.35 | 0.35 | 0.34 | 0.35 | 0.36 | 0.37 | 0.38 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.42 | 0.43 | |||||||
| Meta Platforms Inc. | 0.08 | 0.08 | 0.08 | 0.09 | 0.05 | 0.05 | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Walt Disney Co. | 0.24 | 0.23 | 0.23 | 0.24 | 0.24 | 0.24 | 0.25 | 0.26 | 0.27 | 0.27 | 0.28 | 0.28 | 0.29 | 0.29 | 0.31 | 0.27 | 0.24 | 0.24 | 0.28 | 0.27 | 0.21 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 14,015,974 ÷ 48,827,721 = 0.29
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Netflix Inc. debt to assets ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
Financial Leverage
Netflix Inc., financial leverage calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Total assets | 48,827,721) | 48,731,992) | 49,501,786) | 50,817,473) | 49,490,345) | 48,594,768) | 47,562,187) | 46,350,935) | 45,330,904) | 44,584,663) | 42,739,857) | 40,970,969) | 40,123,014) | 39,280,359) | 38,622,543) | 37,175,281) | 35,059,910) | 33,975,712) | 30,941,711) | 30,171,339) | 27,218,632) | |||||||
| Stockholders’ equity | 21,365,410) | 20,588,313) | 22,107,627) | 22,832,215) | 21,828,196) | 20,777,401) | 20,528,141) | 19,075,974) | 17,544,039) | 15,849,248) | 15,314,617) | 13,863,871) | 12,884,080) | 11,065,240) | 10,333,323) | 9,334,753) | 8,409,294) | 7,582,157) | 6,861,505) | 6,105,548) | 5,703,058) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 2.29 | 2.37 | 2.24 | 2.23 | 2.27 | 2.34 | 2.32 | 2.43 | 2.58 | 2.81 | 2.79 | 2.96 | 3.11 | 3.55 | 3.74 | 3.98 | 4.17 | 4.48 | 4.51 | 4.94 | 4.77 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| Alphabet Inc. | 1.39 | 1.42 | 1.45 | 1.43 | 1.42 | 1.43 | 1.41 | 1.39 | 1.41 | 1.43 | 1.42 | 1.41 | 1.42 | 1.44 | 1.41 | 1.34 | 1.34 | 1.37 | 1.35 | 1.34 | 1.34 | |||||||
| Comcast Corp. | 3.19 | 3.20 | 3.16 | 3.12 | 3.15 | 3.18 | 3.17 | 2.92 | 2.89 | 2.87 | 2.89 | 2.92 | 3.01 | 3.03 | 3.12 | 3.18 | 3.22 | 3.18 | 3.28 | 3.34 | 3.42 | |||||||
| Meta Platforms Inc. | 1.49 | 1.50 | 1.51 | 1.54 | 1.48 | 1.48 | 1.44 | 1.35 | 1.33 | 1.33 | 1.27 | 1.23 | 1.22 | 1.24 | 1.24 | 1.26 | 1.31 | 1.32 | 1.32 | 1.32 | 1.27 | |||||||
| Walt Disney Co. | 1.96 | 2.07 | 2.09 | 2.09 | 2.10 | 2.14 | 2.21 | 2.23 | 2.26 | 2.30 | 2.33 | 2.34 | 2.40 | 2.41 | 2.42 | 2.28 | 2.24 | 2.18 | 2.32 | 2.38 | 1.99 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 48,827,721 ÷ 21,365,410 = 2.29
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Netflix Inc. financial leverage ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Interest Coverage
Netflix Inc., interest coverage calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Net income | 2,332,209) | 937,838) | 1,677,422) | 1,487,610) | 1,305,120) | 55,284) | 1,398,242) | 1,440,951) | 1,597,447) | 607,429) | 1,449,071) | 1,353,013) | 1,706,715) | 542,156) | 789,976) | 720,196) | 709,067) | 586,970) | 665,244) | 270,650) | 344,052) | |||||||
| Add: Income tax expense | 282,370) | 210,312) | 231,627) | 191,722) | 163,754) | (15,948) | 223,605) | 182,103) | 382,245) | (56,576) | 211,888) | 240,776) | 327,787) | (35,739) | 71,484) | 315,406) | 86,803) | (437,637) | 347,079) | 230,266) | 55,607) | |||||||
| Add: Interest expense | 173,314) | 175,212) | 175,563) | 174,812) | 174,239) | 170,603) | 172,575) | 175,455) | 187,579) | 189,429) | 190,429) | 191,322) | 194,440) | 197,186) | 197,079) | 189,151) | 184,083) | 177,801) | 160,660) | 152,033) | 135,529) | |||||||
| Earnings before interest and tax (EBIT) | 2,787,893) | 1,323,362) | 2,084,612) | 1,854,144) | 1,643,113) | 209,939) | 1,794,422) | 1,798,509) | 2,167,271) | 740,282) | 1,851,388) | 1,785,111) | 2,228,942) | 703,603) | 1,058,539) | 1,224,753) | 979,953) | 327,134) | 1,172,983) | 652,949) | 535,188) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Interest coverage1 | 11.52 | 9.87 | 8.33 | 7.95 | 7.86 | 8.45 | 8.97 | 8.83 | 8.62 | 8.63 | 8.49 | 7.41 | 6.71 | 5.17 | 4.80 | 5.21 | 4.64 | 4.29 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||
| Comcast Corp. | 5.99 | 6.01 | 5.97 | 3.79 | 3.50 | 3.38 | 3.35 | 5.43 | 5.57 | 5.46 | 5.67 | 4.94 | 4.54 | 4.07 | 3.94 | 4.26 | 4.29 | 4.72 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Interest coverage
= (EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023
+ EBITQ2 2023)
÷ (Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023
+ Interest expenseQ2 2023)
= (2,787,893 + 1,323,362 + 2,084,612 + 1,854,144)
÷ (173,314 + 175,212 + 175,563 + 174,812)
= 11.52
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Netflix Inc. interest coverage ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |