Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Netflix Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in thousands
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).
The overall balance sheet exhibits a significant expansion in scale, with total liabilities and stockholders' equity increasing from approximately $40.1 billion in March 2021 to $58.4 billion by June 2026. This growth is characterized by a substantial accumulation of retained earnings and a strategic shift in the company's capital structure.
- Liability Dynamics
- Total liabilities remained relatively stable throughout the period, fluctuating between $26.9 billion and $29.8 billion. However, a shift from long-term to short-term obligations is observed. Current liabilities rose from $7.96 billion to $12.13 billion, driven largely by an increase in accrued expenses and other liabilities, which climbed from $1.29 billion to $3.17 billion. Simultaneously, non-current liabilities decreased from $19.27 billion to $16.16 billion.
- Long-term debt demonstrates a general downward trend, declining from $14.86 billion in March 2021 to $11.82 billion by June 2026, indicating a gradual reduction in long-term leverage.
- Content-specific liabilities show divergent trends: current content liabilities remained relatively stable, oscillating around the $4 billion mark, while non-current content liabilities declined steadily from $2.46 billion to $1.62 billion.
- Equity and Capital Allocation
- Stockholders' equity experienced significant growth, increasing from $12.88 billion in March 2021 to $30.15 billion by June 2026. This was primarily fueled by a massive increase in retained earnings, which rose from $9.27 billion to $50.96 billion, reflecting strong internal capital generation.
- An aggressive capital return strategy is evident in the treasury stock account. The cost of treasury stock expanded from -$500 million in June 2021 to -$28.38 billion by June 2026, signifying a large-scale share repurchase program that partially offset the increase in total equity.
The analysis indicates a transition toward a more self-sustaining financial position. The combination of rising retained earnings and declining long-term debt suggests an improved solvency profile and a decreased reliance on external debt markets to finance growth and operations.