Cloudflare, Inc. NET Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 299.2%-3.6pp | 302.7%-2.8pp | 305.5%-2.3pp | 307.9%-1.2pp | 309%+0.1pp | |
| Operating margin | -38.3%-0.6pp | -37.7%-0.3pp | -37.4%+0.8pp | -38.2%+1.7pp | -39.9%+5.2pp | |
| Net margin | -19.8%+0.9pp | -20.7%0.0pp | -20.7%+0.8pp | -21.5%+0.7pp | -22.2%+8.5pp | |
| Returns | ||||||
| Return on equity | -34%+1.5pp | -35.4%+0.5pp | -36%+2.3pp | -38.3%+2.4pp | -40.7%+17.7pp | |
| Efficiency | ||||||
| Asset turnover | 1.8×-0.1× | 1.9×-0.1× | 2×-0.1× | 2.1×-0.1× | 2.2×0.0× | |
| Liquidity | ||||||
| Current ratio | 11.1×-1.2× | 12.4×-0.9× | 13.2×-1.3× | 14.6×+1.6× | 12.9×-0.3× | |
| Leverage | ||||||
| Debt-to-equity | 0.7×0.0× | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | 0.6×-0.1× | |
| Per Share | ||||||
| Book value per share | $15.94+1.3% | $15.74+7.7% | $14.61+7.5% | $13.60+7.8% | $12.62+16.3% | |
| Valuation | ||||||
| Market capitalization | $281.08B+13.6% | $247.34B+14.9% | $215.24B+28.1% | $168.02B+27.8% | $131.44B+4.9% | |
| Price / sales | 134.5×+9.2× | 125.3×+9.7× | 115.6×+19.6× | 96×+15.4× | 80.6×-1.7× | |
| Price / book | 202.5×+20.3× | 182.2×+12.0× | 170.2×+27.2× | 143×+20.3× | 122.7×-13.9× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Cloudflare, Inc.'s profit margins?
- Cloudflare, Inc. (NET) runs a 73.3% gross margin and a -9.3% operating margin, with a -3.7% net margin.
- Where do Cloudflare, Inc.'s ratios come from?
- Every ratio is computed from Cloudflare, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
