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Cloudflare, Inc. NET Net debt / EBITDA

Net debt / EBITDA at other companies

Microsoft logo
MicrosoftMSFT
0.5×0.0×
Amazon logo
AmazonAMZN
0.9×+0.2×
F5, Inc. logo
F5, Inc.FFIV
-1.3×+0.1×
Akamai Technologies logo
Akamai TechnologiesAKAM
0.9×+0.9×
Zscaler logo
ZscalerZS
19.2×+12.3×
Alphabet Inc. logo
Alphabet Inc.GOOGL
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Other financials

Income statement

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Revenue$639.8M+33.5%
Gross profit$455.6M+25.3%
Operating income-$62.0M-16.4%
Net income-$22.9M+40.4%
EPS (diluted)-$0.07+36.4%

Balance sheet

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Cash & equivalents$944.4M+347%
Total debt$256.7M+36.9%
Total equity$1.5B+7.1%
Total assets$6.2B+65.6%

Cash flow

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Operating cash flow$158.3M+8.6%
CapEx$65.2M-24.1%
Free cash flow$93.1M+55.4%

Valuation

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Market cap$79.53B+86.8%
Enterprise value$78.84B+85.1%
P/S34.2×+10.1×

Profitability

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Gross margin73.3%-3.6pp
Operating margin-9.3%+0.7pp
Net margin-3.7%-0.6pp

Returns & leverage

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Return on equity-5.9%-1.0pp
Debt / equity0.2×0.0×
Current ratio2×-1.2×

Questions, answered.

What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.