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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
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Netflix Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 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), 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 quarterly financial data reveals several key trends and patterns in the company's asset composition and liquidity over the period observed.
- Cash and Cash Equivalents
- Cash reserves showed a general upward trend from early 2020 through mid-2020, increasing significantly from approximately 5.15 billion USD to over 8.39 billion USD by the third quarter of 2020. Following this peak, cash levels declined gradually through 2021 and 2022, hitting a low around 5.15 billion USD at the end of 2022. Starting in 2023, cash balances rebounded again, reaching a higher peak of approximately 9.29 billion USD by the third quarter of 2025, suggesting improved liquidity management or stronger cash inflows in later periods.
- Short-term Investments
- Short-term investments were not reported during the initial periods and only appear starting from the first quarter of 2023. The values fluctuate considerably in the subsequent quarters, with significant peaks notably in early 2024 around 1.77 billion USD and smaller fluctuations afterward. This could indicate a strategic use of short-term investments to optimize returns on excess liquid assets during this later stage.
- Other Current Assets
- Other current assets exhibit a consistent upward progression from approximately 1.3 billion USD in the first quarter of 2020 to over 3.6 billion USD by the last period in 2025. This steady increase reflects either the accumulation of receivables, prepaid expenses, or other short-term assets that support operational activities.
- Current Assets
- Total current assets present a similar trend to cash and other current assets, rising from about 6.45 billion USD in early 2020 to reach a peak near 11.5 billion USD in mid-2023. However, this total experiences some volatility afterward, dropping periodically but ultimately increasing again to about 12.96 billion USD by the third quarter of 2025, indicating fluctuating but overall growing liquidity and near-term resources.
- Content Assets, Net
- Content assets, net of amortization, show a general upward trend throughout the observed timeframe, starting around 25.27 billion USD and increasing steadily to reach about 32.64 billion USD in late 2025. This reflects continuous investment in content, which is a core asset for the company, with some periods of slight decline or stabilization around 2023 suggesting possible amortization or impairment activities.
- Property and Equipment, Net
- This asset category expands gradually from approximately 650 million USD at the outset of 2020 to around 1.84 billion USD by the third quarter of 2025. The steady increase demonstrates ongoing capital expenditure on physical assets, supporting infrastructure growth or technological enhancements over time.
- Other Non-current Assets
- Other non-current assets increase significantly from about 2.7 billion USD in early 2020 to nearly 7.5 billion USD by late 2025, indicating investments or asset acquisitions beyond content and equipment, which may include intangible assets, long-term receivables, or equity stakes.
- Non-current Assets
- Total non-current assets grow consistently from roughly 28.6 billion USD at the start of the period to over 41.9 billion USD by the third quarter of 2025. This growth is driven mainly by increases in content assets, property and equipment, and other non-current assets, underscoring a long-term investment focus.
- Total Assets
- Total assets show a steady rise over time, moving from around 35.1 billion USD in the first quarter of 2020 to approximately 54.9 billion USD by the late 2025 quarter. Although there are some fluctuations and slight contractions in specific periods, the overall trajectory demonstrates asset base expansion aligned with company growth and capital deployment strategies.
In summary, the data reveals a robust increase in total assets driven predominantly by investments in content and non-current assets. Liquidity, as reflected in cash and equivalents, and current assets, exhibits volatility but follows an overall upward trend with noticeable peaks and troughs, which may correspond to cash flow timing and investment cycles. The introduction and active management of short-term investments in later years indicate strategic financial planning to enhance returns on liquid resources. The steady rise in property and equipment points to ongoing infrastructure development supporting operational needs.