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NFLX
Netflix Inc.Stock · Communication Services
$77.65+$3.46 (+4.66%)as of market close, Jul 2, 2026
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How Netflix makes money

Fiscal year

How does Netflix make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

Netflix Inc. · FY2025 · year ended 2025-12-31
Revenue$45.2BGross profit$21.9B · 48%Cost of revenue$23.3B · 52%Operating income$13.3B · 29%Operating expenses$8.6B · 19%R&D$3.4B · 8%SG&A$1.9B · 4%Selling & marketing$3.3B · 7%Pre-tax income$12.7B · 28%Other expense$604M · 1%Net income$11.0B · 24%Income tax$1.7B · 4%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.