🎉 Netflix Q4 2025
Q4 2025業績：收入$45.2B (+16.0%), FCF $9.5B, FCF Margin 29.5%
2026官方指引：收入$50.7B-$51.7B, FCF $11.0B-$11.0B, FCF Margin 31.5%
歷史財務數據 (2020-2025)
Netflix (NFLX)實際財務表現數據
| 年份 | 收入 ($M) | OCF ($M) | SBC ($M) | Capex ($M) | FCF ($M) | FCF Margin % |
|---|---|---|---|---|---|---|
| 2020 | $24,996 | $-1,289 | $650 | $497 | $-2,436 | -9.75% |
| 2021 | $29,698 | $393 | $750 | $525 | $-882 | -2.97% |
| 2022 | $31,616 | $2,026 | $900 | $408 | $719 | 2.27% |
| 2023 | $33,723 | $7,274 | $1,100 | $349 | $5,826 | 17.28% |
| 2024 | $39,001 | $7,361 | $273 | $440 | $6,649 | 17.05% |
| 2025最新 | $45 | $9 | $0 | $1 | $8 | 17.91% |
| 近3年平均 FCF Margin (2023-2025) | 17.4% | |||||
說明：FCF = OCF - SBC - Capex。2025年FCF達到$9.5B，創歷史新高！業務已進入穩定高現金流階段。