Stock Analysis on Net
Stock Analysis on Net

Netflix Inc. (NASDAQ:NFLX)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level


Long-term Activity Ratios (Summary)

Netflix Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Net fixed asset turnover 30.09 32.90 35.66 39.16 38.97 38.25 37.76 40.13 39.69 37.31 36.61 33.76 32.89 34.57 35.27 42.61 46.82 43.09 39.09
Total asset turnover 0.61 0.61 0.59 0.61 0.58 0.61 0.61 0.64 0.61 0.63 0.61 0.64 0.62 0.66 0.65 0.66 0.66 0.64 0.66
Equity turnover 2.42 2.55 2.66 2.75 2.89 2.91 3.01 2.97 3.09 3.17 3.26 3.27 3.27 3.20 3.30 3.23 3.16 3.09 3.05

Based on: 10-Q (filing date: 2020-07-20), 10-Q (filing date: 2020-04-21), 10-K (filing date: 2020-01-29), 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-19), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-01-29), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-01-29), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-01-27), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-19), 10-Q (filing date: 2016-04-20), 10-K (filing date: 2016-01-28), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Netflix Inc.’s net fixed asset turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Netflix Inc.’s total asset turnover ratio improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Netflix Inc.’s equity turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Net Fixed Asset Turnover

Netflix Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Revenues 6,148,286  5,767,691  5,467,434  5,244,905  4,923,116  4,520,992  4,186,841  3,999,374  3,907,270  3,700,856  3,285,755  2,984,859  2,785,464  2,636,635  2,477,541  2,290,188  2,105,204  1,957,736  1,823,333  1,738,355  1,644,694  1,573,129 
Property and equipment, net 751,941  650,455  565,221  481,992  452,399  434,372  418,281  371,152  349,646  341,932  319,404  322,421  309,831  275,083  250,395  191,876  162,864  166,254  173,412  181,268  171,396  145,816 
Long-term Activity Ratio
Net fixed asset turnover1 30.09 32.90 35.66 39.16 38.97 38.25 37.76 40.13 39.69 37.31 36.61 33.76 32.89 34.57 35.27 42.61 46.82 43.09 39.09
Benchmarks
Net Fixed Asset Turnover, Competitors2
Charter Communications Inc. 1.37 1.36 1.32 1.32 1.30 1.27 1.24 1.24 1.24 1.24 1.23 1.24 1.24 1.12 0.88 0.65 0.41 1.20 1.17
Comcast Corp. 2.15 2.24 2.25 2.32 2.25 2.16 2.13 2.22 2.22 2.22 2.20 2.21 2.26 2.24 2.22 2.21 2.18 2.21 2.21
Walt Disney Co. 2.43 2.36 2.20 2.06 1.93 1.99 2.01 1.97 1.95 1.95 1.94 2.00 2.03 2.04 2.03 2.08 2.08 2.13 2.08 2.10 2.13 2.11

Based on: 10-Q (filing date: 2020-07-20), 10-Q (filing date: 2020-04-21), 10-K (filing date: 2020-01-29), 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-19), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-01-29), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-01-29), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-01-27), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-19), 10-Q (filing date: 2016-04-20), 10-K (filing date: 2016-01-28), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q2 2020 Calculation
Net fixed asset turnover = (RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019 + RevenuesQ3 2019) ÷ Property and equipment, net
= (6,148,286 + 5,767,691 + 5,467,434 + 5,244,905) ÷ 751,941 = 30.09

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Netflix Inc.’s net fixed asset turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Total Asset Turnover

Netflix Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Revenues 6,148,286  5,767,691  5,467,434  5,244,905  4,923,116  4,520,992  4,186,841  3,999,374  3,907,270  3,700,856  3,285,755  2,984,859  2,785,464  2,636,635  2,477,541  2,290,188  2,105,204  1,957,736  1,823,333  1,738,355  1,644,694  1,573,129 
Total assets 37,175,281  35,059,910  33,975,712  30,941,711  30,171,339  27,218,632  25,974,400  23,366,229  22,663,537  20,152,797  19,012,742  16,951,540  16,517,223  14,359,096  13,586,610  12,347,338  11,593,507  11,262,274  10,202,871  9,916,267  9,654,861  9,240,626 
Long-term Activity Ratio
Total asset turnover1 0.61 0.61 0.59 0.61 0.58 0.61 0.61 0.64 0.61 0.63 0.61 0.64 0.62 0.66 0.65 0.66 0.66 0.64 0.66
Benchmarks
Total Asset Turnover, Competitors2
Charter Communications Inc. 0.32 0.32 0.31 0.31 0.31 0.30 0.30 0.29 0.29 0.29 0.28 0.28 0.28 0.25 0.19 0.14 0.09 0.24 0.25
Comcast Corp. 0.40 0.41 0.41 0.42 0.40 0.38 0.38 0.44 0.46 0.46 0.45 0.45 0.46 0.45 0.45 0.44 0.44 0.44 0.45
Walt Disney Co. 0.38 0.37 0.36 0.31 0.28 0.59 0.60 0.59 0.58 0.57 0.58 0.60 0.60 0.60 0.60 0.62 0.61 0.60 0.59 0.59 0.59 0.57

Based on: 10-Q (filing date: 2020-07-20), 10-Q (filing date: 2020-04-21), 10-K (filing date: 2020-01-29), 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-19), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-01-29), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-01-29), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-01-27), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-19), 10-Q (filing date: 2016-04-20), 10-K (filing date: 2016-01-28), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q2 2020 Calculation
Total asset turnover = (RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019 + RevenuesQ3 2019) ÷ Total assets
= (6,148,286 + 5,767,691 + 5,467,434 + 5,244,905) ÷ 37,175,281 = 0.61

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Netflix Inc.’s total asset turnover ratio improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020.

Equity Turnover

Netflix Inc., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Revenues 6,148,286  5,767,691  5,467,434  5,244,905  4,923,116  4,520,992  4,186,841  3,999,374  3,907,270  3,700,856  3,285,755  2,984,859  2,785,464  2,636,635  2,477,541  2,290,188  2,105,204  1,957,736  1,823,333  1,738,355  1,644,694  1,573,129 
Stockholders’ equity 9,334,753  8,409,294  7,582,157  6,861,505  6,105,548  5,703,058  5,238,765  5,009,653  4,496,600  4,020,730  3,581,956  3,327,361  3,112,500  2,973,683  2,679,800  2,528,966  2,415,834  2,317,233  2,223,426  2,167,318  2,032,075  1,909,214 
Long-term Activity Ratio
Equity turnover1 2.42 2.55 2.66 2.75 2.89 2.91 3.01 2.97 3.09 3.17 3.26 3.27 3.27 3.20 3.30 3.23 3.16 3.09 3.05
Benchmarks
Equity Turnover, Competitors2
Charter Communications Inc. 1.59 1.56 1.46 1.37 1.27 1.24 1.20 1.16 1.14 1.09 1.06 1.24 1.11 0.92 0.72 0.53 0.34
Comcast Corp. 1.26 1.33 1.32 1.39 1.35 1.32 1.32 1.24 1.24 1.25 1.23 1.51 1.53 1.49 1.49 1.47 1.43 1.43 1.43
Walt Disney Co. 0.87 0.84 0.78 0.72 0.66 1.18 1.22 1.26 1.26 1.29 1.33 1.30 1.27 1.28 1.29 1.27 1.24 1.24 1.18 1.10 1.10 1.13

Based on: 10-Q (filing date: 2020-07-20), 10-Q (filing date: 2020-04-21), 10-K (filing date: 2020-01-29), 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-19), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-01-29), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-01-29), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-01-27), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-19), 10-Q (filing date: 2016-04-20), 10-K (filing date: 2016-01-28), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q2 2020 Calculation
Equity turnover = (RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019 + RevenuesQ3 2019) ÷ Stockholders’ equity
= (6,148,286 + 5,767,691 + 5,467,434 + 5,244,905) ÷ 9,334,753 = 2.42

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Netflix Inc.’s equity turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.