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.

Cloudflare, Inc. NET Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	302.7%-6.2pp	308.9%+5.5pp	303.5%-4.8pp	308.3%+0.1pp
Operating margin	-37.7%+7.5pp	-45.1%+22.7pp	-67.8%+14.1pp	-81.9%-2.2pp
Net margin	-20.7%+10.0pp	-30.7%+37.9pp	-68.5%+47.9pp	-116.5%+12.1pp
EBITDA margin	-4.1%+6.7pp	-10.8%+14.2pp	-25%+16.5pp	-41.5%-5.0pp
Free cash flow margin	48.2%-0.1pp	48.2%—	——	——
Returns
Return on equity	-35.4%+22.9pp	-58.3%+68.1pp	-126.5%+13.2pp	-139.7%-48.5pp
Return on assets	-9.8%+6.5pp	-16.3%+14.9pp	-31.2%+14.6pp	-45.9%+0.6pp
Efficiency
Asset turnover	1.9×-0.3×	2.2×+0.3×	1.8×+0.3×	1.6×+0.1×
Liquidity
Current ratio	12.4×-0.9×	13.3×-2.4×	15.6×-6.8×	22.4×-5.4×
Quick ratio	12.4×-0.9×	13.3×-2.4×	15.6×-6.8×	22.4×-5.4×
Cash ratio	2.9×+1.7×	1.2×-0.1×	1.3×-0.7×	2×-4.3×
Leverage
Debt-to-equity	0.6×-0.1×	0.7×-0.1×	0.8×-0.1×	1×+0.6×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×+0.1×
Interest coverage	-109.5×+31.7×	-141.2×-5.0×	-136.2×-77.5×	-58.7×-48.0×
Per Share
Book value per share	$15.74+45.0%	$10.85+31.0%	$8.28+16.5%	$7.11-32.5%
Valuation
Market capitalization	$247.34B+97.3%	$125.34B+37.0%	$91.49B+6.3%	$86.03B-36.4%
Enterprise value	$244.47B+95.2%	$125.22B+36.9%	$91.44B+6.4%	$85.9B-36.0%
Price / sales	125.3×+43.0×	82.3×+4.4×	77.9×-28.2×	106.2×-131×
Price / book	182.2×+45.7×	136.6×+4.2×	132.4×-21.8×	154.1×-11.1×
EV / sales	123.9×+41.6×	82.2×+4.4×	77.9×-28.1×	106×-130×
Free cash flow yield	1.6%-0.8pp	2.4%—	——	——
Earnings yield	-0.7%+0.8pp	-1.5%+2.1pp	-3.6%+1.7pp	-5.2%-3.1pp

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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.