Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Aggregate Accruals
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Netflix Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 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).
A significant structural shift in the capital composition is observed over the analyzed period, characterized by a transition from a liability-heavy balance sheet to one increasingly supported by stockholders' equity. Total liabilities decreased from 67.89% of total liabilities and stockholders' equity in March 2021 to 48.41% by June 2026. This indicates a strategic deleveraging process and a reduced reliance on external borrowing to fund operations and content acquisition.
- Long-term Debt and Non-current Liabilities
- A consistent downward trend is evident in long-term debt, which fell from 37.04% in March 2021 to 20.23% in June 2026. Non-current liabilities as a whole followed this trajectory, declining from 48.05% to 27.65%. This suggests a systematic reduction in long-term financial obligations.
- Content-Related Obligations
- Both current and non-current content liabilities show a marked decline. Current content liabilities decreased from 10.71% to 6.62%, while non-current content liabilities dropped from 6.15% to 2.78%. The combined reduction suggests that content obligations are occupying a smaller proportion of the total capital structure over time.
- Current Liabilities and Short-term Debt
- Current liabilities remained relatively stable, fluctuating between 16% and 21%, ending at 20.76% in June 2026. Short-term debt exhibited higher volatility, with values absent in some periods and peaking at 4.25% in the final quarter, suggesting intermittent use of short-term credit facilities.
The growth in stockholders' equity, which rose from 32.11% in March 2021 to 51.59% in June 2026, reflects a strengthening of the internal capital base. This growth is driven by two primary opposing forces: a massive increase in retained earnings and an aggressive share repurchase program.
- Retained Earnings Growth
- Retained earnings experienced an exponential increase, rising from 23.13% in March 2021 to 87.20% by June 2026. This trajectory indicates strong cumulative profitability and a significant accumulation of earnings within the company.
- Treasury Stock Activity
- The proportion of treasury stock at cost increased significantly in negative terms, moving from -1.22% in June 2021 to -48.57% in June 2026. This indicates that a substantial portion of the equity base is being utilized to repurchase shares, which partially offsets the increase in retained earnings.
- Common Stock and Other Equity
- Common stock remained relatively stable as a percentage of the total, moving from 8.97% to 13.12%, while accumulated other comprehensive income remained a negligible factor throughout the period.