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Side-by-side financial comparison of Netflix (NFLX) and T-Mobile US (TMUS). Click either name above to swap in a different company.
T-Mobile US is the larger business by last-quarter revenue ($23.1B vs $12.2B, roughly 1.9× Netflix). Netflix runs the higher net margin — 43.1% vs 10.8%, a 32.3% gap on every dollar of revenue. On growth, Netflix posted the faster year-over-year revenue change (16.2% vs 10.6%). Netflix produced more free cash flow last quarter ($5.1B vs $4.6B). Over the past eight quarters, Netflix's revenue compounded faster (13.2% CAGR vs 8.1%).
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.
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its majority shareholder and namesake is the German telecommunications company Deutsche Telekom. T-Mobile is the second largest wireless carrier in the United States, with 140 million subscribers as of September 30, 2025.
NFLX vs TMUS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $12.2B | $23.1B |
| Net Profit | $5.3B | $2.5B |
| Gross Margin | 51.9% | — |
| Operating Margin | 32.3% | 20.8% |
| Net Margin | 43.1% | 10.8% |
| Revenue YoY | 16.2% | 10.6% |
| Net Profit YoY | 82.8% | -15.2% |
| EPS (diluted) | $1.23 | $2.27 |
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 | $23.1B | ||
| Q4 25 | $12.1B | $24.3B | ||
| Q3 25 | $11.5B | $22.0B | ||
| Q2 25 | $11.1B | $21.1B | ||
| Q1 25 | $10.5B | $20.9B | ||
| Q4 24 | $10.2B | $21.9B | ||
| Q3 24 | $9.8B | $20.2B | ||
| Q2 24 | $9.6B | $19.8B |
| Q1 26 | $5.3B | $2.5B | ||
| Q4 25 | $2.4B | $2.1B | ||
| Q3 25 | $2.5B | $2.7B | ||
| Q2 25 | $3.1B | $3.2B | ||
| Q1 25 | $2.9B | $3.0B | ||
| Q4 24 | $1.9B | $3.0B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.1B | $2.9B |
| 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% | 20.8% | ||
| Q4 25 | 24.5% | 15.4% | ||
| Q3 25 | 28.2% | 20.6% | ||
| Q2 25 | 34.1% | 24.7% | ||
| Q1 25 | 31.7% | 23.0% | ||
| Q4 24 | 22.2% | 21.0% | ||
| Q3 24 | 29.6% | 23.8% | ||
| Q2 24 | 27.2% | 23.4% |
| Q1 26 | 43.1% | 10.8% | ||
| Q4 25 | 20.1% | 8.6% | ||
| Q3 25 | 22.1% | 12.4% | ||
| Q2 25 | 28.2% | 15.2% | ||
| Q1 25 | 27.4% | 14.1% | ||
| Q4 24 | 18.2% | 13.6% | ||
| Q3 24 | 24.1% | 15.2% | ||
| Q2 24 | 22.5% | 14.8% |
| Q1 26 | $1.23 | $2.27 | ||
| Q4 25 | $-17.14 | $1.89 | ||
| Q3 25 | $5.87 | $2.41 | ||
| Q2 25 | $7.19 | $2.84 | ||
| Q1 25 | $0.66 | $2.58 | ||
| Q4 24 | $4.27 | $2.56 | ||
| Q3 24 | $5.40 | $2.61 | ||
| Q2 24 | $4.88 | $2.49 |
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 | $3.5B |
| Total DebtLower is stronger | $13.4B | $86.0B |
| Stockholders' EquityBook value | $31.1B | $55.9B |
| Total Assets | $61.0B | $214.7B |
| Debt / EquityLower = less leverage | 0.43× | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $12.3B | $3.5B | ||
| Q4 25 | $9.1B | $5.6B | ||
| Q3 25 | $9.3B | $3.3B | ||
| Q2 25 | $8.4B | $10.3B | ||
| Q1 25 | $8.4B | $12.0B | ||
| Q4 24 | $9.6B | $5.4B | ||
| Q3 24 | $9.2B | $9.8B | ||
| Q2 24 | $6.7B | $6.4B |
| Q1 26 | $13.4B | $86.0B | ||
| Q4 25 | $13.5B | $86.3B | ||
| Q3 25 | $14.5B | — | ||
| Q2 25 | $14.5B | — | ||
| Q1 25 | $14.0B | — | ||
| Q4 24 | $13.8B | $78.3B | ||
| Q3 24 | $14.2B | — | ||
| Q2 24 | $12.2B | — |
| Q1 26 | $31.1B | $55.9B | ||
| Q4 25 | $26.6B | $59.2B | ||
| Q3 25 | $26.0B | $60.5B | ||
| Q2 25 | $25.0B | $61.1B | ||
| Q1 25 | $24.0B | $61.1B | ||
| Q4 24 | $24.7B | $61.7B | ||
| Q3 24 | $22.7B | $64.3B | ||
| Q2 24 | $22.1B | $62.6B |
| Q1 26 | $61.0B | $214.7B | ||
| Q4 25 | $55.6B | $219.2B | ||
| Q3 25 | $54.9B | $217.2B | ||
| Q2 25 | $53.1B | $212.6B | ||
| Q1 25 | $52.1B | $214.6B | ||
| Q4 24 | $53.6B | $208.0B | ||
| Q3 24 | $52.3B | $210.7B | ||
| Q2 24 | $49.1B | $208.6B |
| Q1 26 | 0.43× | 1.54× | ||
| Q4 25 | 0.51× | 1.46× | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 0.56× | 1.27× | ||
| 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 | $7.2B |
| Free Cash FlowOCF − Capex | $5.1B | $4.6B |
| FCF MarginFCF / Revenue | 41.6% | 19.9% |
| Capex IntensityCapex / Revenue | 1.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.00× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $11.9B | $18.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $5.3B | $7.2B | ||
| Q4 25 | $2.1B | $6.7B | ||
| Q3 25 | $2.8B | $7.5B | ||
| Q2 25 | $2.4B | $7.0B | ||
| Q1 25 | $2.8B | $6.8B | ||
| Q4 24 | $1.5B | $5.5B | ||
| Q3 24 | $2.3B | $6.1B | ||
| Q2 24 | $1.3B | $5.5B |
| Q1 26 | $5.1B | $4.6B | ||
| Q4 25 | $1.9B | $4.2B | ||
| Q3 25 | $2.7B | $4.8B | ||
| Q2 25 | $2.3B | $4.6B | ||
| Q1 25 | $2.7B | $4.4B | ||
| Q4 24 | $1.4B | $3.3B | ||
| Q3 24 | $2.2B | $4.2B | ||
| Q2 24 | $1.2B | $3.5B |
| Q1 26 | 41.6% | 19.9% | ||
| Q4 25 | 15.5% | 17.2% | ||
| Q3 25 | 23.1% | 21.9% | ||
| Q2 25 | 20.5% | 21.7% | ||
| Q1 25 | 25.2% | 21.0% | ||
| Q4 24 | 13.5% | 15.3% | ||
| Q3 24 | 22.3% | 20.7% | ||
| Q2 24 | 12.7% | 17.6% |
| Q1 26 | 1.6% | 0.0% | ||
| Q4 25 | 2.0% | 10.1% | ||
| Q3 25 | 1.4% | 12.0% | ||
| Q2 25 | 1.4% | 11.3% | ||
| Q1 25 | 1.2% | 11.7% | ||
| Q4 24 | 1.5% | 10.1% | ||
| Q3 24 | 1.3% | 9.7% | ||
| Q2 24 | 0.8% | 10.3% |
| Q1 26 | 1.00× | 2.88× | ||
| Q4 25 | 0.87× | 3.16× | ||
| Q3 25 | 1.11× | 2.75× | ||
| Q2 25 | 0.78× | 2.17× | ||
| Q1 25 | 0.97× | 2.32× | ||
| Q4 24 | 0.82× | 1.86× | ||
| Q3 24 | 0.98× | 2.01× | ||
| Q2 24 | 0.60× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFLX
Segment breakdown not available.
TMUS
| Postpaid service revenues | $15.6B | 68% |
| Other | $7.5B | 32% |
