Stock Analysis on Net

Netflix Inc. (NASDAQ:NFLX)

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel LibreOffice Calc

Short-term Activity Ratios (Summary)

Netflix Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
Turnover Ratios
Payables turnover 28.76 20.70 25.28 25.56 29.17 23.28 26.93 30.91 24.14 18.45 26.36 25.19 23.98 17.70 21.16 19.64 19.04 21.30
Working capital turnover 84.84 20.95 15.57 12.30 12.78 12.62 24.13 4.93 6.12 4.25 7.04 5.31
Average No. Days
Average payables payment period 13 18 14 14 13 16 14 12 15 20 14 14 15 21 17 19 19 17

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Netflix Inc. payables turnover ratio decreased from Q3 2021 to Q4 2021 but then increased from Q4 2021 to Q1 2022 exceeding Q3 2021 level.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Netflix Inc. number of days of payables outstanding increased from Q3 2021 to Q4 2021 but then decreased significantly from Q4 2021 to Q1 2022.

Payables Turnover

Netflix Inc., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data (US$ in thousands)
Cost of revenues 4,284,705  5,239,575  4,206,589  4,018,008  3,868,511  4,165,160  3,867,751  3,643,707  3,599,701  3,466,023  3,097,919  3,005,657  2,870,614  2,733,400  2,531,128  2,402,431  2,300,579  2,107,354  1,992,980  1,902,308  1,657,024 
Accounts payable 617,202  837,483  643,059  622,931  532,942  656,183  541,298  446,668  545,488  674,347  444,129  442,194  439,496  562,985  441,427  448,219  436,183  359,555  301,443  273,398  294,831 
Short-term Activity Ratio
Payables turnover1 28.76 20.70 25.28 25.56 29.17 23.28 26.93 30.91 24.14 18.45 26.36 25.19 23.98 17.70 21.16 19.64 19.04 21.30
Benchmarks
Payables Turnover, Competitors2
Alphabet Inc. 33.89 18.38 22.54 20.72 18.72 15.16 18.14 18.73 18.26 12.93 16.61 16.69 16.74 13.60 14.75 15.66 13.97 14.53
Comcast Corp. 3.16 3.09 3.16 3.10 3.03 2.91 3.00 3.14 3.43 3.18 3.37 3.27 3.01 3.50 3.88 3.85 3.64 3.67
Meta Platforms Inc. 7.25 5.55 9.80 20.49 20.92 12.54 13.54 15.15 16.18 9.37 14.04 17.31 16.96 11.41 13.85 17.18 10.49 14.35
Twitter Inc. 10.15 8.85 8.25 4.89 6.65 7.03 5.17 7.20 6.29 7.06 7.24 5.11 5.84 6.65 7.84 5.46 6.26 5.04

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Payables turnover = (Cost of revenuesQ1 2022 + Cost of revenuesQ4 2021 + Cost of revenuesQ3 2021 + Cost of revenuesQ2 2021) ÷ Accounts payable
= (4,284,705 + 5,239,575 + 4,206,589 + 4,018,008) ÷ 617,202 = 28.76

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Netflix Inc. payables turnover ratio decreased from Q3 2021 to Q4 2021 but then increased from Q4 2021 to Q1 2022 exceeding Q3 2021 level.

Working Capital Turnover

Netflix Inc., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data (US$ in thousands)
Current assets 8,098,015  8,069,825  9,415,787  9,604,276  10,107,508  9,761,580  9,826,480  8,564,139  6,447,781  6,178,504  5,327,758  5,877,157  4,168,907  9,694,135  8,729,981  9,346,889  7,817,576  7,669,974  6,385,348  6,700,785  5,660,330 
Less: Current liabilities 7,739,656  8,488,966  8,049,246  7,832,888  7,961,770  7,805,785  7,939,795  7,626,418  7,853,725  6,855,696  7,257,900  6,933,984  6,857,807  6,487,320  6,298,240  6,079,641  6,005,587  5,466,312  5,310,677  5,122,945  4,911,229 
Working capital 358,359  (419,141) 1,366,541  1,771,388  2,145,738  1,955,795  1,886,685  937,721  (1,405,944) (677,192) (1,930,142) (1,056,827) (2,688,900) 3,206,815  2,431,741  3,267,248  1,811,989  2,203,662  1,074,671  1,577,840  749,101 
 
Revenues 7,867,767  7,709,318  7,483,467  7,341,777  7,163,282  6,644,442  6,435,637  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 
Short-term Activity Ratio
Working capital turnover1 84.84 20.95 15.57 12.30 12.78 12.62 24.13 4.93 6.12 4.25 7.04 5.31
Benchmarks
Working Capital Turnover, Competitors2
Alphabet Inc. 2.33 2.08 1.96 1.84 1.69 1.55 1.48 1.58 1.56 1.51 1.42 1.34 1.37 1.35 1.32 1.31 1.19 1.11
Charter Communications Inc.
Comcast Corp. 165.10 24.75
Meta Platforms Inc. 3.13 2.59 1.95 1.59 1.46 1.42 1.47 1.32 1.35 1.38 1.36 1.39 1.36 1.28 1.19 1.07 0.98 0.91
Twitter Inc. 0.83 0.77 0.73 0.60 0.50 0.56 0.52 0.43 0.45 0.51 0.57 0.57 0.56 0.54 0.54 0.45 0.52 0.52
Walt Disney Co. 25.38 26.13 9.70 9.36 7.30 7.58 6.70 973.68

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Working capital turnover = (RevenuesQ1 2022 + RevenuesQ4 2021 + RevenuesQ3 2021 + RevenuesQ2 2021) ÷ Working capital
= (7,867,767 + 7,709,318 + 7,483,467 + 7,341,777) ÷ 358,359 = 84.84

2 Click competitor name to see calculations.


Average Payables Payment Period

Netflix Inc., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data
Payables turnover 28.76 20.70 25.28 25.56 29.17 23.28 26.93 30.91 24.14 18.45 26.36 25.19 23.98 17.70 21.16 19.64 19.04 21.30
Short-term Activity Ratio (no. days)
Average payables payment period1 13 18 14 14 13 16 14 12 15 20 14 14 15 21 17 19 19 17
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Alphabet Inc. 11 20 16 18 20 24 20 19 20 28 22 22 22 27 25 23 26 25
Comcast Corp. 116 118 115 118 121 125 121 116 106 115 108 111 121 104 94 95 100 100
Meta Platforms Inc. 50 66 37 18 17 29 27 24 23 39 26 21 22 32 26 21 35 25
Twitter Inc. 36 41 44 75 55 52 71 51 58 52 50 71 62 55 47 67 58 72

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q1 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 28.76 = 13

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Netflix Inc. number of days of payables outstanding increased from Q3 2021 to Q4 2021 but then decreased significantly from Q4 2021 to Q1 2022.