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Side-by-side financial comparison of Athene Holding Ltd. (ATHS) and Netflix (NFLX). Click either name above to swap in a different company.
Netflix is the larger business by last-quarter revenue ($12.2B vs $8.1B, roughly 1.5× Athene Holding Ltd.). Netflix runs the higher net margin — 43.1% vs 6.4%, a 36.7% gap on every dollar of revenue. On growth, Athene Holding Ltd. posted the faster year-over-year revenue change (115.1% vs 16.2%). Over the past eight quarters, Athene Holding Ltd.'s revenue compounded faster (19.2% CAGR vs 13.2%).
Athene Holding Ltd. is a leading US-focused retirement services provider. It offers fixed, indexed and variable annuity products plus tailored retirement savings solutions for individual consumers and institutional clients, aiming to help customers secure long-term financial stability for their retirement.
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres. It is available internationally in multiple languages.
ATHS vs NFLX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.1B | $12.2B |
| Net Profit | $523.0M | $5.3B |
| Gross Margin | — | 51.9% |
| Operating Margin | 16.9% | 32.3% |
| Net Margin | 6.4% | 43.1% |
| Revenue YoY | 115.1% | 16.2% |
| Net Profit YoY | -48.5% | 82.8% |
| EPS (diluted) | — | $1.23 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $12.2B | ||
| Q4 25 | $8.1B | $12.1B | ||
| Q3 25 | $8.0B | $11.5B | ||
| Q2 25 | $5.4B | $11.1B | ||
| Q1 25 | $4.2B | $10.5B | ||
| Q4 24 | $3.8B | $10.2B | ||
| Q3 24 | $6.5B | $9.8B | ||
| Q2 24 | $4.7B | $9.6B |
| Q1 26 | — | $5.3B | ||
| Q4 25 | $523.0M | $2.4B | ||
| Q3 25 | $1.3B | $2.5B | ||
| Q2 25 | $464.0M | $3.1B | ||
| Q1 25 | $465.0M | $2.9B | ||
| Q4 24 | $1.0B | $1.9B | ||
| Q3 24 | $625.0M | $2.4B | ||
| Q2 24 | $629.0M | $2.1B |
| Q1 26 | — | 51.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.4% | ||
| Q2 25 | — | 51.9% | ||
| Q1 25 | — | 50.1% | ||
| Q4 24 | — | 43.7% | ||
| Q3 24 | — | 47.9% | ||
| Q2 24 | — | 45.9% |
| Q1 26 | — | 32.3% | ||
| Q4 25 | 16.9% | 24.5% | ||
| Q3 25 | 26.8% | 28.2% | ||
| Q2 25 | 12.2% | 34.1% | ||
| Q1 25 | 22.3% | 31.7% | ||
| Q4 24 | 30.4% | 22.2% | ||
| Q3 24 | 25.7% | 29.6% | ||
| Q2 24 | 22.0% | 27.2% |
| Q1 26 | — | 43.1% | ||
| Q4 25 | 6.4% | 20.1% | ||
| Q3 25 | 15.7% | 22.1% | ||
| Q2 25 | 8.7% | 28.2% | ||
| Q1 25 | 11.1% | 27.4% | ||
| Q4 24 | 26.8% | 18.2% | ||
| Q3 24 | 9.6% | 24.1% | ||
| Q2 24 | 13.5% | 22.5% |
| Q1 26 | — | $1.23 | ||
| Q4 25 | — | $-17.14 | ||
| Q3 25 | — | $5.87 | ||
| Q2 25 | — | $7.19 | ||
| Q1 25 | — | $0.66 | ||
| Q4 24 | — | $4.27 | ||
| Q3 24 | — | $5.40 | ||
| Q2 24 | — | $4.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.3B |
| Total DebtLower is stronger | $7.8B | $13.4B |
| Stockholders' EquityBook value | $20.5B | $31.1B |
| Total Assets | $442.2B | $61.0B |
| Debt / EquityLower = less leverage | 0.38× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.3B | ||
| Q4 25 | — | $9.1B | ||
| Q3 25 | — | $9.3B | ||
| Q2 25 | — | $8.4B | ||
| Q1 25 | — | $8.4B | ||
| Q4 24 | — | $9.6B | ||
| Q3 24 | — | $9.2B | ||
| Q2 24 | — | $6.7B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $7.8B | $13.5B | ||
| Q3 25 | $7.9B | $14.5B | ||
| Q2 25 | $7.9B | $14.5B | ||
| Q1 25 | $6.3B | $14.0B | ||
| Q4 24 | $6.3B | $13.8B | ||
| Q3 24 | $5.7B | $14.2B | ||
| Q2 24 | $5.7B | $12.2B |
| Q1 26 | — | $31.1B | ||
| Q4 25 | $20.5B | $26.6B | ||
| Q3 25 | $20.4B | $26.0B | ||
| Q2 25 | $18.1B | $25.0B | ||
| Q1 25 | $17.5B | $24.0B | ||
| Q4 24 | $16.4B | $24.7B | ||
| Q3 24 | $17.4B | $22.7B | ||
| Q2 24 | $15.0B | $22.1B |
| Q1 26 | — | $61.0B | ||
| Q4 25 | $442.2B | $55.6B | ||
| Q3 25 | $429.9B | $54.9B | ||
| Q2 25 | $405.3B | $53.1B | ||
| Q1 25 | $381.5B | $52.1B | ||
| Q4 24 | $363.3B | $53.6B | ||
| Q3 24 | $355.0B | $52.3B | ||
| Q2 24 | $332.6B | $49.1B |
| Q1 26 | — | 0.43× | ||
| Q4 25 | 0.38× | 0.51× | ||
| Q3 25 | 0.38× | 0.56× | ||
| Q2 25 | 0.43× | 0.58× | ||
| Q1 25 | 0.36× | 0.58× | ||
| Q4 24 | 0.39× | 0.56× | ||
| Q3 24 | 0.33× | 0.62× | ||
| Q2 24 | 0.38× | 0.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $5.3B |
| Free Cash FlowOCF − Capex | — | $5.1B |
| FCF MarginFCF / Revenue | — | 41.6% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 5.82× | 1.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $11.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.3B | ||
| Q4 25 | $3.0B | $2.1B | ||
| Q3 25 | $636.0M | $2.8B | ||
| Q2 25 | $1.1B | $2.4B | ||
| Q1 25 | $426.0M | $2.8B | ||
| Q4 24 | $386.0M | $1.5B | ||
| Q3 24 | $780.0M | $2.3B | ||
| Q2 24 | $525.0M | $1.3B |
| Q1 26 | — | $5.1B | ||
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | — | 41.6% | ||
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 12.7% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.8% |
| Q1 26 | — | 1.00× | ||
| Q4 25 | 5.82× | 0.87× | ||
| Q3 25 | 0.51× | 1.11× | ||
| Q2 25 | 2.28× | 0.78× | ||
| Q1 25 | 0.92× | 0.97× | ||
| Q4 24 | 0.38× | 0.82× | ||
| Q3 24 | 1.25× | 0.98× | ||
| Q2 24 | 0.83× | 0.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
