Stock Analysis on Net
Stock Analysis on Net

Netflix Inc. (NASDAQ:NFLX)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Netflix Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Cash and cash equivalents
Short-term investments
Other current assets
Current assets
Content assets, net
Property and equipment, net
Other non-current assets
Non-current assets
Total assets

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).

The composition of assets has undergone notable shifts over the analyzed period, spanning from March 31, 2021, to December 31, 2025. A significant portion of assets consistently resides in content assets, net, and non-current assets, while current assets and cash equivalents represent smaller, though fluctuating, proportions.

Cash and Cash Equivalents
Cash and cash equivalents demonstrated a consistent decline from 20.94% of total assets in March 2021 to a low of 10.59% in December 2022. A subsequent increase occurred, peaking at 16.91% in September 2025, before settling at 16.25% by the end of the period. This suggests periods of liquidity management and potential reinvestment strategies.
Short-Term Investments
Short-term investments were largely absent as a percentage of total assets until December 2021, when they reached 1.88%. Fluctuations were observed, peaking at 3.38% in September 2024, before declining to a minimal 0.05% by December 2025. This indicates a potentially opportunistic approach to short-term investment, dependent on market conditions and cash flow.
Current Assets
Current assets exhibited a general downward trend from 25.19% in March 2021 to 20.35% in December 2021. They then experienced a period of fluctuation, rising to 27.98% in March 2026. This suggests variability in short-term obligations and receivables.
Content Assets, Net
Content assets, net, consistently represented the largest portion of total assets, ranging between approximately 64% and 70%. A gradual decline is observed from 69.35% in December 2021 to 54.70% in March 2026, potentially indicating a shift in strategy regarding content investment or amortization effects.
Property and Equipment, Net
Property and equipment, net, remained relatively stable, consistently representing between 2.53% and 3.61% of total assets. A slight upward trend is noticeable towards the end of the period, reaching 3.61% in September 2025, suggesting potential investment in infrastructure.
Other Non-Current Assets
Other non-current assets showed an increasing trend throughout the period, rising from 7.37% in March 2021 to 14.02% in September 2025, before decreasing slightly to 13.80% in March 2026. This suggests growing investments in long-term, less liquid assets.
Non-Current Assets
Non-current assets, encompassing content assets, property and equipment, and other non-current assets, consistently comprised the majority of total assets, generally exceeding 70%. A decline is observed from 81.90% in December 2021 to 72.02% in March 2026, mirroring the trend in content assets, net.

Overall, the asset composition demonstrates a strategic shift away from content assets and towards other non-current assets, alongside fluctuations in cash and short-term investments. These changes suggest evolving investment priorities and liquidity management practices.