Microsoft Excel LibreOffice Calc

Netflix Inc. (NASDAQ:NFLX)

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Analysis of Solvency Ratios

Beginner level


Solvency Ratios (Summary)

Netflix Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Netflix Inc.’s debt to equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Netflix Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Netflix Inc.’s debt to capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Netflix Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Netflix Inc.’s debt to assets ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Netflix Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Netflix Inc.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Netflix Inc.’s interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Netflix Inc.’s fixed charge coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.

Debt to Equity

Netflix Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Long-term debt
Total debt
 
Stockholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
Debt to Equity, Sector
Media
Debt to Equity, Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Netflix Inc.’s debt to equity ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

Netflix Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Long-term debt
Total debt
Current operating lease liabilities
Non-current operating lease liabilities
Total debt (including operating lease liability)
 
Stockholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Charter Communications Inc.
Comcast Corp.
Debt to Equity (including Operating Lease Liability), Sector
Media
Debt to Equity (including Operating Lease Liability), Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Netflix Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Capital

Netflix Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Long-term debt
Total debt
Stockholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
Debt to Capital, Sector
Media
Debt to Capital, Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Netflix Inc.’s debt to capital ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

Netflix Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Long-term debt
Total debt
Current operating lease liabilities
Non-current operating lease liabilities
Total debt (including operating lease liability)
Stockholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Charter Communications Inc.
Comcast Corp.
Debt to Capital (including Operating Lease Liability), Sector
Media
Debt to Capital (including Operating Lease Liability), Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Netflix Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Assets

Netflix Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Long-term debt
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
Debt to Assets, Sector
Media
Debt to Assets, Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Netflix Inc.’s debt to assets ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

Netflix Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Long-term debt
Total debt
Current operating lease liabilities
Non-current operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Charter Communications Inc.
Comcast Corp.
Debt to Assets (including Operating Lease Liability), Sector
Media
Debt to Assets (including Operating Lease Liability), Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Netflix Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 and from 2018 to 2019.

Financial Leverage

Netflix Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total assets
Stockholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
Financial Leverage, Sector
Media
Financial Leverage, Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Netflix Inc.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Interest Coverage

Netflix Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
Interest Coverage, Sector
Media
Interest Coverage, Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Netflix Inc.’s interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019.

Fixed Charge Coverage

Netflix Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest expense
Operating lease costs
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
Fixed Charge Coverage, Sector
Media
Fixed Charge Coverage, Industry
Consumer Services

Based on: 10-K (filing date: 2020-01-29), 10-K (filing date: 2019-01-29), 10-K (filing date: 2018-01-29), 10-K (filing date: 2017-01-27), 10-K (filing date: 2016-01-28).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Netflix Inc.’s fixed charge coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.