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Side-by-side financial comparison of Netflix (NFLX) and PayPal (PYPL). Click either name above to swap in a different company.
Netflix is the larger business by last-quarter revenue ($12.2B vs $8.7B, roughly 1.4× PayPal). Netflix runs the higher net margin — 43.1% vs 16.6%, a 26.6% gap on every dollar of revenue. On growth, Netflix posted the faster year-over-year revenue change (16.2% vs 3.7%). Netflix produced more free cash flow last quarter ($5.1B vs $2.2B). Over the past eight quarters, Netflix's revenue compounded faster (13.2% CAGR vs 6.2%).
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.
PayPalPYPLEarnings & Financial Report
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial and company users.
NFLX vs PYPL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.2B | $8.7B |
| Net Profit | $5.3B | $1.4B |
| Gross Margin | 51.9% | — |
| Operating Margin | 32.3% | 17.4% |
| Net Margin | 43.1% | 16.6% |
| Revenue YoY | 16.2% | 3.7% |
| Net Profit YoY | 82.8% | 28.2% |
| EPS (diluted) | $1.23 | $1.53 |
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 | $12.1B | $8.7B | ||
| Q3 25 | $11.5B | $8.4B | ||
| Q2 25 | $11.1B | $8.3B | ||
| Q1 25 | $10.5B | $7.8B | ||
| Q4 24 | $10.2B | $8.4B | ||
| Q3 24 | $9.8B | $7.8B | ||
| Q2 24 | $9.6B | $7.9B |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $2.4B | $1.4B | ||
| Q3 25 | $2.5B | $1.2B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.1B | $1.1B |
| 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 | 24.5% | 17.4% | ||
| Q3 25 | 28.2% | 18.1% | ||
| Q2 25 | 34.1% | 18.1% | ||
| Q1 25 | 31.7% | 19.6% | ||
| Q4 24 | 22.2% | 17.2% | ||
| Q3 24 | 29.6% | 17.7% | ||
| Q2 24 | 27.2% | 16.8% |
| Q1 26 | 43.1% | — | ||
| Q4 25 | 20.1% | 16.6% | ||
| Q3 25 | 22.1% | 14.8% | ||
| Q2 25 | 28.2% | 15.2% | ||
| Q1 25 | 27.4% | 16.5% | ||
| Q4 24 | 18.2% | 13.4% | ||
| Q3 24 | 24.1% | 12.9% | ||
| Q2 24 | 22.5% | 14.3% |
| Q1 26 | $1.23 | — | ||
| Q4 25 | $-17.14 | $1.53 | ||
| Q3 25 | $5.87 | $1.30 | ||
| Q2 25 | $7.19 | $1.29 | ||
| Q1 25 | $0.66 | $1.29 | ||
| Q4 24 | $4.27 | $1.09 | ||
| Q3 24 | $5.40 | $0.99 | ||
| Q2 24 | $4.88 | $1.08 |
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 | $10.4B |
| Total DebtLower is stronger | $13.4B | — |
| Stockholders' EquityBook value | $31.1B | $20.3B |
| Total Assets | $61.0B | $80.2B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $12.3B | — | ||
| Q4 25 | $9.1B | $10.4B | ||
| Q3 25 | $9.3B | $10.8B | ||
| Q2 25 | $8.4B | $10.0B | ||
| Q1 25 | $8.4B | $11.2B | ||
| Q4 24 | $9.6B | $10.8B | ||
| Q3 24 | $9.2B | $11.9B | ||
| Q2 24 | $6.7B | $13.6B |
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.5B | — | ||
| Q3 25 | $14.5B | — | ||
| Q2 25 | $14.5B | — | ||
| Q1 25 | $14.0B | — | ||
| Q4 24 | $13.8B | — | ||
| Q3 24 | $14.2B | — | ||
| Q2 24 | $12.2B | — |
| Q1 26 | $31.1B | — | ||
| Q4 25 | $26.6B | $20.3B | ||
| Q3 25 | $26.0B | $20.2B | ||
| Q2 25 | $25.0B | $20.2B | ||
| Q1 25 | $24.0B | $20.3B | ||
| Q4 24 | $24.7B | $20.4B | ||
| Q3 24 | $22.7B | $20.2B | ||
| Q2 24 | $22.1B | $20.6B |
| Q1 26 | $61.0B | — | ||
| Q4 25 | $55.6B | $80.2B | ||
| Q3 25 | $54.9B | $79.8B | ||
| Q2 25 | $53.1B | $79.8B | ||
| Q1 25 | $52.1B | $81.3B | ||
| Q4 24 | $53.6B | $81.6B | ||
| Q3 24 | $52.3B | $83.5B | ||
| Q2 24 | $49.1B | $84.0B |
| Q1 26 | 0.43× | — | ||
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 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 | $5.3B | $2.4B |
| Free Cash FlowOCF − Capex | $5.1B | $2.2B |
| FCF MarginFCF / Revenue | 41.6% | 25.2% |
| Capex IntensityCapex / Revenue | 1.6% | 2.2% |
| Cash ConversionOCF / Net Profit | 1.00× | 1.66× |
| TTM Free Cash FlowTrailing 4 quarters | $11.9B | $5.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $5.3B | — | ||
| Q4 25 | $2.1B | $2.4B | ||
| Q3 25 | $2.8B | $2.0B | ||
| Q2 25 | $2.4B | $898.0M | ||
| Q1 25 | $2.8B | $1.2B | ||
| Q4 24 | $1.5B | $2.4B | ||
| Q3 24 | $2.3B | $1.6B | ||
| Q2 24 | $1.3B | $1.5B |
| Q1 26 | $5.1B | — | ||
| Q4 25 | $1.9B | $2.2B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.3B | $692.0M | ||
| Q1 25 | $2.7B | $964.0M | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $2.2B | $1.4B | ||
| Q2 24 | $1.2B | $1.4B |
| Q1 26 | 41.6% | — | ||
| Q4 25 | 15.5% | 25.2% | ||
| Q3 25 | 23.1% | 20.4% | ||
| Q2 25 | 20.5% | 8.3% | ||
| Q1 25 | 25.2% | 12.4% | ||
| Q4 24 | 13.5% | 26.2% | ||
| Q3 24 | 22.3% | 18.4% | ||
| Q2 24 | 12.7% | 17.3% |
| Q1 26 | 1.6% | — | ||
| Q4 25 | 2.0% | 2.2% | ||
| Q3 25 | 1.4% | 3.0% | ||
| Q2 25 | 1.4% | 2.5% | ||
| Q1 25 | 1.2% | 2.5% | ||
| Q4 24 | 1.5% | 2.4% | ||
| Q3 24 | 1.3% | 2.2% | ||
| Q2 24 | 0.8% | 2.0% |
| Q1 26 | 1.00× | — | ||
| Q4 25 | 0.87× | 1.66× | ||
| Q3 25 | 1.11× | 1.58× | ||
| Q2 25 | 0.78× | 0.71× | ||
| Q1 25 | 0.97× | 0.90× | ||
| Q4 24 | 0.82× | 2.14× | ||
| Q3 24 | 0.98× | 1.60× | ||
| Q2 24 | 0.60× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFLX
Segment breakdown not available.
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
