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Forensic Analysis · Streaming Video · as of Nov 8, 2026

Netflix Inc (NFLX)

A forensic read on Netflix Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
5.3
Distress distance
1
Forensic signals
42.8%
ROE
15.9%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Netflix Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 5.3, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

96% of FCF
FY2025
Shareholder returns. Returned $9.1B to shareholders (buybacks + dividends) in FY2025 — 96% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. Counting the $368M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 100%.

Key fundamentals

Latest Revenue$45.18B
Revenue Growth YoY+15.9%
Revenue CAGR (2yr)+15.8%
Net Margin24.3%
Free Cash Flow$9.46B
Return on Equity42.8%
Debt / Equity0.54x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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