Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Analysis of Debt
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Netflix Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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).
The analysis of the financial asset composition over the observed quarterly periods reveals several noteworthy trends and shifts in asset structure.
- Cash and Cash Equivalents
- This category as a percentage of total assets exhibited a peak around mid-2020, reaching above 21%, followed by a general decline through the end of 2022, hitting a low near 10.59%. From early 2023 onwards, the percentage showed a recovery trend, stabilizing between approximately 13.5% and 15%, though with a slight downward adjustment towards early 2025 where it ended near 13.82%. This indicates a fluctuating liquidity position with cautious rebuilding after a period of decline.
- Short-term Investments
- Data for short-term investments appear only starting from late 2022. Since then, this segment has maintained a relatively low but present allocation, fluctuating mostly between 0.04% and 3.38% of total assets. The investment share peaked briefly in late 2024 around 3.38%, suggesting selective deployment of liquid assets into short-term holdings.
- Other Current Assets
- Other current assets consistently contribute around 3.7% to 6.6% of total assets, showing a general upward trend from 3.7% in early 2020 to over 6% by early 2025. Notably, there was a moderate increase starting in late 2021, continuing into 2024, indicating an expansion in other short-term asset categories relative to total asset base.
- Current Assets (Overall)
- Overall current assets as a proportion of total assets rose sharply during the first half of the timeline, from approximately 18.4% in early 2020 to a peak of around 25% in early 2021. After this peak, the ratio declined to near 16.9% by mid-2022, then rebounded moderately, ranging between 20% and 24% through to early 2025. This reflects variability in short-term asset liquidity, moving in response to operational or strategic financial management considerations.
- Content Assets, Net
- Content assets consistently represent the largest portion of total assets, starting at 72.07% in early 2020, declining steadily to below 61.51% by early 2025. The downward trend is gradual but continuous, suggesting a strategic shift or amortization effect reducing the relative proportion of content assets in the asset portfolio over time.
- Property and Equipment, Net
- This asset class showed a slow but steady increase from 1.86% in early 2020 to around 3.16% by early 2025. The consistent growth indicates progressive investment or capitalization of physical assets, albeit remaining a relatively small fraction of the total asset base.
- Other Non-current Assets
- Other non-current assets also displayed an increasing trend, rising from approximately 7.69% to peaks near and above 12% by the end of the period. This growth suggests either accumulation of intangible assets or other long-term asset classes, contributing to a diversification of the long-term asset structure.
- Non-current Assets (Overall)
- The total non-current assets as a percentage of total assets evolved from about 81.6% in early 2020, rising to near 83% in mid-2022, then generally declining to around 77.5% by early 2025. The fluctuations reflect the changes in major non-current asset categories detailed above, particularly content assets and other non-current assets.
In summary, the asset composition reflects a dominant but gradually decreasing reliance on content assets, accompanied by modest growth in physical and other intangible long-term assets. The liquidity position, as represented by cash, cash equivalents, and short-term investments, demonstrates variability but a cautious restoration in recent periods. The overall asset allocation appears dynamic, potentially aligned with strategic financial and operational objectives over the analyzed timeframe.