NFLX · 10-Q · 2026Q2 · Full report

Capital Allocation

NETFLIX INC · 2026-07-17 · Importance 64 · Surprise 42 · Matches filing data

Netflix’s Board authorized an additional $25 billion for common-stock repurchases in April 2026, with no expiration date for the overall program. During the six months ended June 30, 2026, Netflix repurchased 66,431,786 shares for $5.9 billion, excluding the 1% excise tax imposed under the Inflation Reduction Act of 2022. As of June 30, 2026, $27.1 billion remained available, and management may vary or discontinue repurchases based on the stock price, general economic and market conditions, and alternative investment opportunities. The company is not obligated to repurchase a specified number of shares.

Key facts

• In April 2026, the Board authorized the repurchase of an additional $25 billion of the Company’s common stock. source
• As of June 30, 2026, $27.1 billion remains available for repurchases under the Company's repurchase authorizations. source
• Repurchases of common stock for the three months ended June 30, 2026: $(4,714,403) (in thousands) shown in financing activities. source
• Repurchases of common stock to be held as treasury stock for the three months ended June 30, 2026: $(4,705,683) (in thousands) shown in stockholders’ equity activity. source
• During the three and six months ended June 30, 2026, the Company repurchased 52,934,688 and 66,431,786 shares of common stock, respectively, for aggregate amounts of $4.7 billion and $5.9 billion, respectively (excluding 1% excise tax). source
• The Company repurchased 66,431,786 shares of common stock for an aggregate amount of $5.9 billion during the six months ended June 30, 2026 (excluding the 1% excise tax). source
• Treasury stock at cost as of June 30, 2026: (413,373,678) shares and $(28,387,657) (in thousands). source
• RSU awards vest quarterly over a three-year period; PSU awards have performance periods ranging from one to three years. source

Impact estimates