Filing Flows › Netflix (NFLX) › Operating margin
Netflix (NFLX) operating margin by quarter
Netflix's operating margin was 34.6% in Q3 2026 (third quarter 2026), +1.3 pts from Q2 2026. Over the last 7 quarters it ranged from 24.5% (Q4 2025) to 34.6% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 34.6% | +1.3 pts | +6.4 pts |
| Q2 2026 | 33.4% | +1.1 pts | -0.7 pts |
| Q1 2026 | 32.3% | +7.8 pts | +0.6 pts |
| Q4 2025 | 24.5% | -3.7 pts | — |
| Q3 2025 | 28.2% | -5.8 pts | — |
| Q2 2025 | 34.1% | +2.3 pts | — |
| Q1 2025 | 31.7% | — | — |
Q3 2026 at a glance
Netflix, Q3 2026: revenue $12.9B (+12% year over year), operating margin 34.6%, net earnings $3.7B, operating cash flow $3.2B. The chart follows the revenue to costs, profit and cash.
Questions
What is Netflix's operating margin?
Netflix's operating margin was 34.6% in Q3 2026 (third quarter 2026), +1.3 pts from Q2 2026.
How has Netflix's operating margin changed?
Over the last 7 quarters it ranged from 24.5% (Q4 2025) to 34.6% (Q3 2026).