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Feb 10, 2026·SEC
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Oct 30, 2025·SEC
Cloudflare, Inc.(NET)Earnings, Financials & Key Ratios
NET•NYSE
$244.43
$86.38B mkt cap·Price updated May 6, 2026
AboutCloudFlare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices. Its security products comprise cloud firewall, bot management, distributed denial of service, IoT, SSL/TLS, secure origin connection, and rate limiting products. The company also offers performance solutions, which include content delivery and intelligent routing, as well as content, mobile, and image optimization solutions. In addition, it provides reliability solutions comprising load balancing, anycast network, virtual backbone, DNS, DNS resolver, online, and virtual waiting room solutions. Further, the company offers Cloudflare internal infrastructure solutions, including on-ramps, which connect users, devices, or locations to its network; and filters, which are the products that protect, inspect, and privilege data. Additionally, it provides developer-based solutions, such as serverless computing/programmable network, website development, domain registration, Cloudflare apps, analytics, and data localization management; Consumer DNS Resolver, a consumer app to browse the Internet; and Consumer VPN for consumers to secure and accelerate traffic on mobile devices. The company serves customers in the technology, healthcare, financial services, consumer and retail, and non-profit industries, as well as government. CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.Show more
- Revenue$2.17B+29.8%
- EBITDA$88M+425.7%
- Net Income-$102M-29.8%
- EPS (Diluted)-0.29-26.1%
- Gross Margin74.43%-3.7%
- EBITDA Margin4.06%+350.8%
- Operating Margin-9.38%-1.2%
- Net Margin-4.72%
- ROE-8.16%+6.3%
- ROIC-4.64%+10.7%
- Debt/Equity2.54+81.3%
- Interest Coverage-9.58+24.2%
NET Key Insights
Cloudflare, Inc. (NET) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 38.1%
✗Weaknesses
- ✗High debt to equity ratio of 2.5x
- ✗Weak Piotroski F-Score: 3/9
- ✗Expensive at 58.4x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NET Price & Volume
Cloudflare, Inc. (NET) stock price & volume — 10-year historical chart
Loading chart...
NET Growth Metrics
Cloudflare, Inc. (NET) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years38.13%
3 Years30.51%
TTM29.85%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-29.78%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-29.55%
Return on Capital
10 Years-14.78%
5 Years-9.03%
3 Years-8.2%
Last Year-6.57%
NET Recent Earnings
Cloudflare, Inc. (NET) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 11/12 qtrs (92%)
Q1 2026Latest
Feb 10, 2026EPS
$0.28
Est $0.27
+3.2%
Revenue
$615M
Est $591M
+3.9%
Q4 2025
Oct 30, 2025EPS
$0.27
Est $0.23
+17.3%
Revenue
$562M
Est $545M
+3.2%
Q3 2025
Jul 31, 2025EPS
$0.21
Est $0.18
+14.5%
Revenue
$512M
Est $501M
+2.2%
Q2 2025
May 8, 2025EPS
$0.16
Est $0.16
-2.3%
Revenue
$479M
Est $469M
+2.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 10, 2026 | $0.28vs $0.27+3.2% | $615Mvs $591M+3.9% |
| Q4 2025 | Oct 30, 2025 | $0.27vs $0.23+17.3% | $562Mvs $545M+3.2% |
| Q3 2025 | Jul 31, 2025 | $0.21vs $0.18+14.5% | $512Mvs $501M+2.2% |
| Q2 2025 | May 8, 2025 | $0.16vs $0.16-2.3% | $479Mvs $469M+2.1% |
Based on last 12 quarters of dataView full earnings history →
NET Peer Comparison
Cloudflare, Inc. (NET) competitors in Cloud networking, CDN and edge — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FSLY | 4.6B | 32.36 | -28.39 | 7.45% | -19.5% | -13.09% | 0.42 | |
 AKAM | 17.69B | 117.94 | 36.07 | 4.7% | 10.74% | 9.08% | 4.71% | 0.95 |
 BAND | 1.52B | 47.33 | -110.07 | 0.71% | 1.96% | 4.04% | 100% | 1.75 |
 ZS | 22.7B | 141.36 | -523.56 | 23.31% | -2.25% | -3.08% | 3.2% | 1.00 |
 PANW | 129.34B | 183.98 | 114.99 | 14.87% | 12.96% | 13.65% | 2.68% | 0.04 |
 FTNT | 66.87B | 89.92 | 37.00 | 14.17% | 27.26% | 149.77% | 3.33% | 0.81 |
 CRWD | 120.74B | 476.53 | -733.12 | 21.71% | -3.81% | -4.63% | 1.09% | 0.18 |
 CHKP | 12.26B | 117.64 | 12.23 | 6.25% | 38.37% | 36.43% | 9.85% | 0.68 |
Compare NET vs Peers
Cloudflare, Inc. (NET) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NET Income Statement
Cloudflare, Inc. (NET) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 134.91M | 192.67M | 287.02M | 431.06M | 656.43M | 975.24M | 1.3B | 1.67B | 2.17B |
| Revenue Growth % | - | 42.81% | 48.97% | 50.18% | 52.28% | 48.57% | 32.97% | 28.76% | 29.85% |
| Cost of Goods Sold | 28.79M | 43.54M | 63.42M | 101.06M | 147.13M | 232.61M | 307M | 378.7M | 554.35M |
| COGS % of Revenue | 21.34% | 22.6% | 22.1% | 23.44% | 22.41% | 23.85% | 23.67% | 22.68% | 25.57% |
| Gross Profit | 106.13M▲ 0% | 149.14M▲ 40.5% | 223.6M▲ 49.9% | 330M▲ 47.6% | 509.29M▲ 54.3% | 742.63M▲ 45.8% | 989.74M▲ 33.3% | 1.29B▲ 30.4% | 1.61B▲ 25.0% |
| Gross Margin % | 78.66% | 77.4% | 77.9% | 76.56% | 77.59% | 76.15% | 76.33% | 77.32% | 74.43% |
| Gross Profit Growth % | - | 40.53% | 49.93% | 47.59% | 54.33% | 45.82% | 33.27% | 30.43% | 24.99% |
| Operating Expenses | 115.86M | 234.04M | 341.85M | 440.49M | 657.5M | 991.39M | 1.24B | 1.45B | 1.82B |
| OpEx % of Revenue | 85.87% | 121.47% | 119.1% | 102.19% | 100.16% | 101.66% | 95.67% | 86.59% | 83.81% |
| Selling, General & Admin | 82.21M | 179.57M | 240.88M | 309.07M | 447.19M | 645.27M | 817.08M | 1.02B | 1.31B |
| SG&A % of Revenue | 60.93% | 93.2% | 83.92% | 71.7% | 68.12% | 66.16% | 63.01% | 61.35% | 60.43% |
| Research & Development | 33.65M | 54.46M | 100.97M | 131.42M | 210.31M | 346.12M | 423.54M | 421.37M | 512.49M |
| R&D % of Revenue | 24.94% | 28.27% | 35.18% | 30.49% | 32.04% | 35.49% | 32.66% | 25.24% | 23.64% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -9.73M▲ 0% | -84.9M▼ 772.5% | -118.25M▼ 39.3% | -110.49M▲ 6.6% | -148.2M▼ 34.1% | -248.76M▼ 67.8% | -250.88M▼ 0.9% | -154.76M▲ 38.3% | -203.3M▼ 31.4% |
| Operating Margin % | -7.21% | -44.06% | -41.2% | -25.63% | -22.58% | -25.51% | -19.35% | -9.27% | -9.38% |
| Operating Income Growth % | - | -772.55% | -39.28% | 6.56% | -34.13% | -67.85% | -0.86% | 38.31% | -31.36% |
| EBITDA | 2.44M | -65.99M | -88.77M | -44.16M | -53.74M | -103.64M | -56.11M | -27.04M | 88.07M |
| EBITDA Margin % | 1.81% | -34.25% | -30.93% | -10.25% | -8.19% | -10.63% | -4.33% | -1.62% | 4.06% |
| EBITDA Growth % | - | -2800.25% | -34.51% | 50.25% | -21.67% | -92.87% | 45.86% | 51.81% | 425.71% |
| D&A (Non-Cash Add-back) | 12.17M | 18.91M | 29.48M | 66.32M | 94.47M | 145.12M | 194.77M | 127.72M | 291.37M |
| EBIT | -8.85M | -85.09M | -113.9M | -110.01M | -219.64M | -237.25M | -237.39M | -65.67M | -83.94M |
| Net Interest Income | -100K | 903K | 4.67M | -18.38M | -47.26M | 9.89M | 62.3M | 82.23M | 122.45M |
| Interest Income | 762K | 1.9M | 5.79M | 6.59M | 1.97M | 14.88M | 68.17M | 87.43M | 131.22M |
| Interest Expense | 862K | 992K | 1.11M | 24.96M | 49.23M | 4.98M | 5.87M | 5.2M | 8.77M |
| Other Income/Expense | 15K | -1.19M | 3.23M | -24.48M | -120.67M | 6.52M | 7.62M | 83.89M | 110.59M |
| Pretax Income | -9.71M▲ 0% | -86.09M▼ 786.1% | -115.01M▼ 33.6% | -134.97M▼ 17.4% | -268.88M▼ 99.2% | -242.23M▲ 9.9% | -243.26M▼ 0.4% | -70.87M▲ 70.9% | -92.71M▼ 30.8% |
| Pretax Margin % | -7.2% | -44.68% | -40.07% | -31.31% | -40.96% | -24.84% | -18.76% | -4.24% | -4.28% |
| Income Tax | 1.03M | 1.08M | -9.19M | -15.6M | -8.57M | -48.85M | -59.31M | 7.93M | 9.56M |
| Effective Tax Rate % | -10.63% | -1.25% | 7.99% | 11.56% | 3.19% | 20.17% | 24.38% | -11.19% | -10.31% |
| Net Income | -10.75M▲ 0% | -87.16M▼ 711.0% | -105.83M▼ 21.4% | -119.37M▼ 12.8% | -260.31M▼ 118.1% | -193.38M▲ 25.7% | -183.95M▲ 4.9% | -78.8M▲ 57.2% | -102.27M▼ 29.8% |
| Net Margin % | -7.97% | -45.24% | -36.87% | -27.69% | -39.66% | -19.83% | -14.19% | -4.72% | -4.72% |
| Net Income Growth % | - | -710.98% | -21.41% | -12.8% | -118.07% | 25.71% | 4.88% | 57.16% | -29.78% |
| Net Income (Continuing) | -10.75M | -87.16M | -105.83M | -119.37M | -260.31M | -193.38M | -183.95M | -78.8M | -102.27M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.04▲ 0% | -0.37▼ 764.5% | -0.35▲ 5.4% | -0.40▼ 14.3% | -0.83▼ 107.5% | -0.59▲ 28.9% | -0.55▲ 6.8% | -0.23▲ 58.2% | -0.29▼ 26.1% |
| EPS Growth % | - | -764.49% | 5.41% | -14.29% | -107.5% | 28.92% | 6.78% | 58.18% | -26.09% |
| EPS (Basic) | -0.04 | -0.37 | -0.35 | -0.40 | -0.83 | -0.59 | -0.55 | -0.23 | -0.29 |
| Diluted Shares Outstanding | 251.09M | 237.32M | 300.17M | 299.77M | 312.32M | 326.33M | 333.66M | 341.41M | 348.42M |
| Basic Shares Outstanding | 251.09M | 237.32M | 300.17M | 299.77M | 312.32M | 326.33M | 333.66M | 341.41M | 348.42M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
NET Balance Sheet
Cloudflare, Inc. (NET) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 92.02M | 196.74M | 689.87M | 1.13B | 1.95B | 1.89B | 1.98B | 2.27B | 4.64B |
| Cash & Short-Term Investments | 73.41M | 160.66M | 636.95M | 1.03B | 1.82B | 1.65B | 1.67B | 1.86B | 4.1B |
| Cash Only | 24.44M | 25.05M | 138.98M | 108.89M | 313.78M | 204.18M | 86.86M | 147.69M | 943.54M |
| Short-Term Investments | 48.96M | 135.6M | 497.97M | 923.2M | 1.51B | 1.45B | 1.59B | 1.71B | 3.16B |
| Accounts Receivable | 15.19M | 26.71M | 35.93M | 67.04M | 101.62M | 156.84M | 259.31M | 333.32M | 406.02M |
| Days Sales Outstanding | 41.08 | 50.59 | 45.69 | 56.76 | 56.51 | 58.7 | 72.99 | 72.87 | 68.36 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 749K | 1.16M | 3.31M | 2.59M | 2.96M | 10.55M | 2.52M | 75.48M | 9.36M |
| Total Non-Current Assets | 71.12M | 101.64M | 140.95M | 250.7M | 418.65M | 700.02M | 776.69M | 1.03B | 1.39B |
| Property, Plant & Equipment | 51.42M | 73.21M | 101.47M | 166.84M | 314.05M | 418.96M | 461.37M | 635.8M | 856.34M |
| Fixed Asset Turnover | 2.62x | 2.63x | 2.83x | 2.58x | 2.09x | 2.33x | 2.81x | 2.63x | 2.53x |
| Goodwill | 4.08M | 4.08M | 4.08M | 17.17M | 23.53M | 148.05M | 148.05M | 181.09M | 226.56M |
| Intangible Assets | 673K | 156K | 31K | 2.8M | 1.25M | 32.48M | 19.56M | 21.86M | 41.8M |
| Long-Term Investments | 0 | 0 | 0 | 0 | -370K | 471K | 0 | 0 | 0 |
| Other Non-Current Assets | 14.94M | 24.19M | 35.37M | 63.89M | 79.82M | 100.2M | 147.71M | 193.41M | 266.72M |
| Total Assets | 163.14M▲ 0% | 298.38M▲ 82.9% | 830.82M▲ 178.4% | 1.38B▲ 66.2% | 2.37B▲ 71.8% | 2.59B▲ 9.1% | 2.76B▲ 6.6% | 3.3B▲ 19.6% | 6.04B▲ 82.9% |
| Asset Turnover | 0.83x | 0.65x | 0.35x | 0.31x | 0.28x | 0.38x | 0.47x | 0.51x | 0.36x |
| Asset Growth % | - | 82.89% | 178.44% | 66.18% | 71.81% | 9.1% | 6.64% | 19.62% | 82.85% |
| Total Current Liabilities | 27.16M | 61.38M | 83.88M | 141.38M | 288.56M | 397.87M | 567.08M | 793.65M | 2.35B |
| Accounts Payable | 4.72M | 14.29M | 11.46M | 14.48M | 26.09M | 35.61M | 53.73M | 105.81M | 84.11M |
| Days Payables Outstanding | 59.91 | 119.76 | 65.97 | 52.32 | 64.71 | 55.87 | 63.88 | 101.98 | 55.38 |
| Short-Term Debt | 356K | 255K | 0 | 0 | 12.12M | 0 | 0 | 0 | 1.36B |
| Deferred Revenue (Current) | 11.93M | 16.82M | 30.84M | 54.95M | 116.55M | 218.65M | 347.61M | 477.76M | 684.21M |
| Other Current Liabilities | 4.09M | 22.72M | 26.61M | 34.01M | 70.56M | 42.01M | 63.8M | 80.85M | 109.05M |
| Current Ratio | 3.39x | 3.21x | 8.22x | 7.99x | 6.77x | 4.74x | 3.50x | 2.86x | 1.98x |
| Quick Ratio | 3.39x | 3.21x | 8.22x | 7.99x | 6.77x | 4.74x | 3.50x | 2.86x | 1.98x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 195.81M | 350.51M | 21.11M | 422.33M | 1.27B | 1.57B | 1.43B | 1.46B | 2.23B |
| Long-Term Debt | 255K | 0 | 0 | 383.27M | 1.15B | 1.44B | 1.28B | 1.29B | 2.16B |
| Capital Lease Obligations | 10.31M | 10.44M | 10.51M | 27.31M | 109.04M | 107.62M | 113.49M | 128.27M | 182.03M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 185.04M | 339.84M | 9.8M | 9.86M | 7.11M | 10.53M | 15.54M | 23.63M | -152.69M |
| Total Liabilities | 222.98M | 411.88M | 105M | 563.71M | 1.56B | 1.96B | 2B | 2.25B | 4.58B |
| Total Debt | 10.92M | 10.7M | 10.51M | 428.3M | 1.29B | 1.58B | 1.44B | 1.46B | 3.7B |
| Net Debt | -13.52M | -14.36M | -128.47M | 319.41M | 979.43M | 1.37B | 1.35B | 1.32B | 2.76B |
| Debt / Equity | - | - | 0.01x | 0.52x | 1.59x | 2.53x | 1.88x | 1.40x | 2.54x |
| Debt / EBITDA | 4.47x | - | - | - | - | - | - | - | 42.02x |
| Net Debt / EBITDA | -5.53x | - | - | - | - | - | - | - | 31.30x |
| Interest Coverage | -10.27x | -85.78x | -102.43x | -4.41x | -4.46x | -47.60x | -40.43x | -12.64x | -9.58x |
| Total Equity | -59.83M▲ 0% | -113.5M▼ 89.7% | 725.83M▲ 739.5% | 816.94M▲ 12.6% | 815.8M▼ 0.1% | 623.96M▼ 23.5% | 763.05M▲ 22.3% | 1.05B▲ 37.1% | 1.46B▲ 39.5% |
| Equity Growth % | - | -89.7% | 739.47% | 12.55% | -0.14% | -23.51% | 22.29% | 37.11% | 39.47% |
| Book Value per Share | -0.24 | -0.48 | 2.42 | 2.73 | 2.61 | 1.91 | 2.29 | 3.06 | 4.19 |
| Total Shareholders' Equity | -59.83M | -113.5M | 725.83M | 816.94M | 815.8M | 623.96M | 763.05M | 1.05B | 1.46B |
| Common Stock | 79K | 85K | 294K | 304K | 321K | 328K | 337K | 344K | 351K |
| Retained Earnings | -108.71M | -195.88M | -301.71M | -420.52M | -680.83M | -839.89M | -1.02B | -1.1B | -1.2B |
| Treasury Stock | -48.91M | -82.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -27.74M | -39.9M | 61K | 163K | -2.65M | -11.9M | 1.98M | -4.25M | 12.26M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NET Cash Flow Statement
Cloudflare, Inc. (NET) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 3.17M | -43.28M | -38.92M | -17.13M | 64.65M | 123.59M | 254.41M | 380.43M | 666.87M |
| Operating CF Margin % | 2.35% | -22.46% | -13.56% | -3.97% | 9.85% | 12.67% | 19.62% | 22.79% | 30.76% |
| Operating CF Growth % | - | -1466.62% | 10.08% | 55.99% | 477.42% | 91.18% | 105.84% | 49.54% | 75.29% |
| Net Income | -10.75M | -87.16M | -105.83M | -119.37M | -260.31M | -193.38M | -183.95M | -78.8M | -102.27M |
| Depreciation & Amortization | 12.17M | 18.91M | 29.48M | 49.39M | 66.61M | 102.33M | 135.82M | 209.5M | 291.37M |
| Stock-Based Compensation | 2.75M | 27.35M | 36.63M | 56.33M | 90.14M | 202.78M | 273.99M | 338.46M | 451.45M |
| Deferred Taxes | -135K | 385K | 370K | -6.14M | 8.74M | -140K | 2.26M | 2.11M | 1.33M |
| Other Non-Cash Items | 4.35M | 8.84M | 13.33M | 63.73M | 156.08M | 91.3M | 131.01M | 18.08M | 58.55M |
| Working Capital Changes | -5.23M | -11.59M | -12.89M | -61.06M | 3.39M | -79.3M | -104.73M | -108.92M | -33.56M |
| Change in Receivables | -2.07M | -14.76M | -11.2M | -33M | -35.85M | -56.2M | -116.11M | -84.05M | -85.1M |
| Change in Inventory | 1.27M | 6.11M | 5.09M | -18.63M | 27.8M | 0 | 0 | 0 | 0 |
| Change in Payables | -957K | 4.39M | -1.33M | 1.69M | 2.46M | -9.61M | 11.78M | 18.63M | 8.86M |
| Cash from Investing | 9.54M | -120.8M | -417.64M | -515.27M | -709.32M | -235.7M | -186.2M | -330.22M | -1.81B |
| Capital Expenditures | -22.98M | -34.84M | -57.28M | -74.96M | -107.74M | -163.36M | -114.4M | -185.04M | -342.55M |
| CapEx % of Revenue | 17.03% | 18.08% | 19.96% | 17.39% | 16.41% | 16.75% | 8.82% | 11.08% | 15.8% |
| Acquisitions | -250K | 9.37M | -13.99M | -13.94M | -5.61M | -88.19M | -6.08M | -37.99M | -50.88M |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 28K | -9.31M | 14.03M | 397K | 53K | 36K | -20.47M | -28.44M | 1.83M |
| Cash from Financing | -149K | 168.62M | 570.77M | 504.91M | 847.49M | 6.35M | -192.19M | 12.79M | 1.94B |
| Debt Issued (Net) | -2.89M | -226K | -192K | 494.93M | 817.01M | -16.57M | -207.65M | 0 | 1.93B |
| Equity Issued (Net) | 2.74M | 168.85M | 570.96M | 18.46M | 36.3M | 25.4M | 33.9M | 32.71M | 58.56M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -16K | -65K | -283K | -157K | -189K | -3K | -34K | 0 | 0 |
| Other Financing | 0 | 0 | 0 | -8.48M | -5.82M | -2.48M | -18.44M | -19.92M | -52.04M |
| Net Change in Cash | 12.56M▲ 0% | 4.54M▼ 63.8% | 114.21M▲ 2412.9% | -27.49M▼ 124.1% | 202.81M▲ 837.8% | -105.75M▼ 152.1% | -123.98M▼ 17.2% | 62.99M▲ 150.8% | 800.14M▲ 1170.3% |
| Free Cash Flow | -19.81M▲ 0% | -78.12M▼ 294.4% | -96.2M▼ 23.1% | -92.09M▲ 4.3% | -43.09M▲ 53.2% | -39.77M▲ 7.7% | 119.46M▲ 400.4% | 195.39M▲ 63.6% | 324.32M▲ 66.0% |
| FCF Margin % | -14.68% | -40.55% | -33.52% | -21.36% | -6.56% | -4.08% | 9.21% | 11.7% | 14.96% |
| FCF Growth % | - | -294.39% | -23.14% | 4.27% | 53.21% | 7.71% | 400.39% | 63.56% | 65.98% |
| FCF per Share | -0.08 | -0.33 | -0.32 | -0.31 | -0.14 | -0.12 | 0.36 | 0.57 | 0.93 |
| FCF Conversion (FCF/Net Income) | -0.29x | 0.50x | 0.37x | 0.14x | -0.25x | -0.64x | -1.38x | -4.83x | -6.52x |
| Interest Paid | 812K | 786K | 786K | 2.19M | 3.63M | 1.24M | 670K | 75K | 0 |
| Taxes Paid | 825K | 2.66M | 1.04M | 702K | 1.55M | 2.22M | 4.45M | 5M | 0 |
NET Key Ratios
Cloudflare, Inc. (NET) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -34.57% | -15.47% | -31.89% | -26.86% | -26.52% | -8.71% | -8.16% |
| Return on Invested Capital (ROIC) | - | - | -37.78% | -9.56% | -7.58% | -9.84% | -9.16% | -5.19% | -4.64% |
| Gross Margin | 78.66% | 77.4% | 77.9% | 76.56% | 77.59% | 76.15% | 76.33% | 77.32% | 74.43% |
| Net Margin | -7.97% | -45.24% | -36.87% | -27.69% | -39.66% | -19.83% | -14.19% | -4.72% | -4.72% |
| Debt / Equity | - | - | 0.01x | 0.52x | 1.59x | 2.53x | 1.88x | 1.40x | 2.54x |
| Interest Coverage | -10.27x | -85.78x | -102.43x | -4.41x | -4.46x | -47.60x | -40.43x | -12.64x | -9.58x |
| FCF Conversion | -0.29x | 0.50x | 0.37x | 0.14x | -0.25x | -0.64x | -1.38x | -4.83x | -6.52x |
| Revenue Growth | - | 42.81% | 48.97% | 50.18% | 52.28% | 48.57% | 32.97% | 28.76% | 29.85% |
NET SEC Filings & Documents
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Growth & Financials
Cloudflare, Inc. (NET) reported $2.17B in revenue for fiscal year 2025. This represents a 1507% increase from $134.9M in 2017.
Cloudflare, Inc. (NET) grew revenue by 29.8% over the past year. This is strong growth.
Cloudflare, Inc. (NET) reported a net loss of $102.3M for fiscal year 2025.
Dividend & Returns
Cloudflare, Inc. (NET) has a return on equity (ROE) of -8.2%. Negative ROE indicates the company is unprofitable.
Cloudflare, Inc. (NET) generated $324.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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