Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Analysis of Revenues
- Analysis of Debt
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Netflix Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
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).
Total assets exhibited a general upward trend throughout the observed period, although with some fluctuations. Beginning at approximately US$40.12 billion in March 2021, total assets peaked at around US$61.02 billion in March 2026, indicating substantial growth over the five-year span. However, the growth wasn't linear, with periods of slower increase or slight decline, particularly between September 2023 and March 2024.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated considerable volatility. After starting at US$8.40 billion in March 2021, the balance decreased to a low of US$5.15 billion by December 2022. Subsequently, a recovery was observed, reaching US$9.29 billion by September 2025, before settling at US$9.03 billion in December 2025 and increasing to US$12.26 billion in March 2026. This suggests active cash management and potentially strategic deployment of funds.
- Short-Term Investments
- Short-term investments were largely absent until December 2022, when a balance of US$911.28 million was recorded. These investments fluctuated significantly, peaking at US$1.78 billion in September 2024, before decreasing to US$28.68 million by March 2026. This pattern suggests a dynamic investment strategy, potentially linked to cash flow needs and market conditions.
- Other Current Assets
- Other current assets consistently increased over the period, rising from US$1.70 billion in March 2021 to US$4.78 billion in March 2026. This represents a steady accumulation of current assets beyond cash and short-term investments, potentially including receivables or prepaid expenses. The growth appears relatively consistent, indicating a stable component of working capital.
- Content Assets, Net
- Content assets, net, constituted a significant portion of total assets and remained relatively stable, fluctuating between approximately US$26.04 billion and US$33.38 billion. While there was an overall upward trend, the changes were less dramatic than those observed in cash or short-term investments. This suggests a consistent investment in content creation and acquisition, a core component of the business model.
- Property and Equipment, Net
- Property and equipment, net, exhibited a consistent upward trend, increasing from US$1.02 billion in March 2021 to US$2.15 billion in March 2026. This indicates ongoing investment in infrastructure and physical assets, although the relative contribution to total assets remained modest.
- Other Non-Current Assets
- Other non-current assets also showed a consistent upward trend, growing from US$2.96 billion in March 2021 to US$8.42 billion in March 2026. This suggests increasing investments in long-term assets not categorized as property and equipment, potentially including intangible assets or long-term receivables.
In summary, the asset base experienced substantial growth, driven primarily by increases in content assets, other current assets, and other non-current assets. Cash and cash equivalents, and short-term investments demonstrated more volatility, suggesting active liquidity management. The consistent growth in property and equipment and other non-current assets indicates ongoing investment in long-term capabilities.