Cloudflare, Inc.
NETNYSE
$302.01
Last price · USD
- Market cap
- $105.2B
- P/E
- —
- EV / EBITDA
- 1020.6x
- P/S
- 48.5x
- FCF yield
- 0.3%
- Div. yield
- 0.00%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Cloudflare, Inc. key metrics & ratios
Annual · USD millions except per-share data · 36 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Growth (year over year) | |||||||
| Revenue growth | 29.8% | 28.8% | 33.0% | 48.6% | — | — | |
| Operating income growth | -33.9% | 16.6% | 7.8% | -57.6% | — | — | |
| Net income growth | -29.8% | 57.2% | 4.9% | 25.7% | — | — | |
| EPS (diluted) growth | -26.1% | 58.2% | 6.8% | 28.9% | — | — | |
| Free cash flow growth | 66.0% | 63.6% | 400.4% | 7.7% | — | — | |
| Margins | |||||||
| Gross margin | 74.5% | 77.3% | 76.3% | 76.1% | 77.6% | — | |
| Operating margin | -9.6% | -9.3% | -14.3% | -20.6% | -19.5% | — | |
| EBITDA margin | 4.9% | 3.7% | -2.8% | -8.6% | -20.1% | — | |
| Net margin | -4.7% | -4.7% | -14.2% | -19.8% | -39.7% | — | |
| FCF margin | 15.0% | 11.7% | 9.2% | -4.1% | -6.6% | — | |
| Returns on capital | |||||||
| Return on equity | -7.0% | -7.5% | -24.1% | -31.0% | -31.9% | — | |
| Return on assets | -1.7% | -2.4% | -6.7% | -7.5% | -11.0% | — | |
| Return on invested capital | -4.9% | -6.6% | -8.8% | -10.1% | -7.1% | — | |
| Leverage & liquidity | |||||||
| Debt / equity | 2.54x | 1.40x | 1.88x | 2.53x | 1.59x | — | |
| Net debt / EBITDA | 26.06x | 21.20x | -37.28x | -16.46x | -7.41x | — | |
| Current ratio | 1.98x | 2.86x | 3.50x | 4.74x | 6.77x | — | |
| Interest coverage | -23.64x | -29.78x | -31.59x | -40.37x | -2.59x | — | |
| Profitability & operating | |||||||
| EBIT | (84) | (66) | (172) | (186) | (199) | — | |
| EBITDA | 106 | 62 | (36) | (83) | (132) | — | |
| Operating income | (207) | (155) | (185) | (201) | (128) | — | |
| Income before tax | (93) | (71) | (178) | (191) | (248) | — | |
| Net income | (102) | (79) | (184) | (193) | (260) | — | |
| Earnings per share | |||||||
| EPS (basic) | (0.29) | (0.23) | (0.55) | (0.59) | (0.83) | — | |
| EPS (diluted) | (0.29) | (0.23) | (0.55) | (0.59) | (0.83) | — | |
| Share count (millions) | |||||||
| Weighted avg shares outstanding | 348 | 341 | 334 | 326 | 312 | +2.8% | |
| Weighted avg shares outstanding (diluted) | 348 | 341 | 334 | 326 | 312 | +2.8% | |
| Balance sheet highlights | |||||||
| Net debt | 2,757 | 1,316 | 1,348 | 1,373 | 979 | +29.5% | |
| Total debt | 3,700 | 1,463 | 1,435 | 1,577 | 1,293 | +30.1% | |
| Total investments | 3,158 | 1,708 | 1,587 | 1,446 | 1,508 | +20.3% | |
| Total stockholders' equity | 1,459 | 1,046 | 763 | 624 | 816 | +15.6% | |
| Total assets | 6,036 | 3,301 | 2,760 | 2,588 | 2,372 | +26.3% | |
| Cash flow highlights | |||||||
| Free cash flow | 324 | 195 | 119 | (40) | (43) | — | |
| Operating cash flow | 667 | 380 | 254 | 124 | 65 | +79.2% | |
| Capital expenditure | (343) | (185) | (135) | (163) | (108) | — | |
| Net cash from operating activities | 667 | 380 | 254 | 124 | 65 | +79.2% | |
| Additional fields | |||||||
| Accrued Expenses | 111 | 82 | 64 | 68 | 38 | +30.7% | |