Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Current Ratio since 2005
- Analysis of Debt
- Aggregate Accruals
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Netflix Inc., consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Net income demonstrates a generally positive trajectory over the five-year period, although with some fluctuation. Initial decline from 2021 to 2022 is followed by consistent growth through 2025. The most substantial increase in net income occurs between 2023 and 2024, and continues into 2025, indicating accelerating profitability. However, other comprehensive income exhibits considerable volatility, significantly impacting overall comprehensive income.
- Net Income Trend
- Net income decreased from US$5,116,228 thousand in 2021 to US$4,491,924 thousand in 2022, representing a decline. Subsequently, net income increased to US$5,407,990 thousand in 2023, US$8,711,631 thousand in 2024, and further to US$10,981,201 thousand in 2025. This indicates a recovery and strong growth in profitability in the later years of the period.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments consistently resulted in negative impacts in 2021 and 2022, with the negative impact increasing in 2022. A positive adjustment was observed in 2023, followed by a substantial negative adjustment in 2024, and a smaller positive adjustment in 2025. This suggests significant exposure to currency fluctuations and their impact on reported earnings.
- Unrealized Gains and Losses
- The impact of unrealized gains and losses on available-for-sale securities and cash flow hedges is notable. While minimal in the earlier years, significant unrealized gains were recorded in 2024, contributing to other comprehensive income. However, these gains were largely offset by substantial unrealized losses in 2025. The net change in cash flow hedges also demonstrates significant volatility, mirroring the pattern of gains and losses.
- Other Comprehensive Income (OCI)
- Other comprehensive income is highly variable. Negative values are recorded in 2021, 2022, and 2023, primarily driven by foreign currency translation adjustments. A large positive value is seen in 2024, largely due to net unrealized gains and changes in cash flow hedges. This is then followed by a substantial negative value in 2025, driven by unrealized losses and changes in cash flow hedges. This volatility significantly influences the overall comprehensive income.
- Comprehensive Income
- Comprehensive income generally follows the trend of net income, but is moderated by the fluctuations in other comprehensive income. While comprehensive income decreased from 2021 to 2022, it then increased substantially in 2024 and 2025, mirroring the growth in net income. The impact of OCI is evident in the differences between net income and comprehensive income each year.
In summary, while net income demonstrates a positive trend, the overall financial picture, as represented by comprehensive income, is significantly influenced by fluctuations in other comprehensive income components, particularly those related to foreign currency translation and unrealized gains/losses on financial instruments. These factors introduce considerable volatility and require further investigation to understand the underlying drivers and potential risks.