Understand The Cash Flow Statement

Lots of decreasing years of operating cash flow and FCF, likely due to reinvestment in stock, focus on growth with original content creation, and years of taking on debt. Because of their success in rapid growth, I don't think it is a bad thing.

10 year Operating Cash Flow CAGR 84.1%

• Besides 2020 and the past 3 years, net operating cashflow was negative from 2015-2021

  • Positive cash flow years

    • $2.43B in 2020

    • $2.03B in 2022

    • then big jump to $7.27B in 2023

    • slight increase to $7.36B in 2024.

FCF (not growing at 10%/year) tells a similar story as cash flow. Over the past decade, it has been negative every year except 2020, 2022, and 2023.