Netflix’s stock buybacks: History & impact explained

Netflix was founded successful 1997 arsenic a DVDs-by-mail rental service, and it expanded into online streaming a decennary later. Over the years, streaming has changed the mode Americans and viewers worldwide ticker movies and TV shows, and Netflix has go the largest paid subscription streaming service.

Here's a adjacent look astatine however Netflix has rewarded stockholders with banal repurchases since it went nationalist successful 2002.

When did Netflix commencement repurchasing its shares? 

Netflix underwent its initial nationalist offering in 2002, and a fewer years later, successful 2008, the institution started buying backmost its shares. Initially, it repurchased $200 cardinal worthy of its stock. 

Related: Netflix's banal divided past (& prospects) explained

How overmuch banal has Netflix repurchased?

Netflix bought backmost its shares successful astir 2 periods since its archetypal repurchase successful 2008. From 2008 to 2011, gross and nett income much than doubled, and it repurchased $934 cardinal successful stock. 

From 2012 to 2020, the institution focused connected processing content, either by creating its ain oregon via securing licenses from different contented providers, spending billions of dollars successful the process. During that period, gross roseate much than eightfold to astir $25 billion, and nett roseate importantly from $17 cardinal to $2.7 billion. The fig of subscribers climbed to astir 204 cardinal from 33 million.

In 2021, Netflix resumed its banal buyback program, authorizing the repurchase of up to $5 cardinal of communal stock, with nary expiration date. That year, it bought backmost $600 million, but successful 2022, it didn't bargain backmost immoderate stock.

In 2023, with billions of dollars successful nett income from anterior years, the institution embarked connected an ambitious buyback program. It accrued authorization by an further $10 cardinal and would authorize much successful consequent years. 

Netflix bought backmost $6.045 cardinal successful 2023, followed by $6.211 cardinal successful 2024, and $9.1 cardinal successful 2025 — erstwhile it posted grounds gross of $45 cardinal and astir $11 cardinal successful profit. That repurchase totaled $21 cardinal implicit those 3 years.

Since 2008, Netflix has repurchased a full of $22.89 cardinal worthy of its ain stock.

Netflix banal buybacks by twelvemonth

Source: Netflix

How does Netflix money its banal buybacks?

Netflix typically uses its ain operating currency (rather than leverage) to bargain backmost stock.

In 2025, its operating currency flow, which comes from the "net currency provided by operating activities" according to its currency travel statement, amounted to $10.1 billion. The streaming work posted $10.98 cardinal successful nett income connected $45.18 cardinal successful gross — some of which were yearly records.