Cloudflare (NET) Debt Ratio (2018 - 2026)

Cloudflare's (NET) quarterly Debt Ratio came in at 0.2 in Q2 2026, down 4.72% quarter-over-quarter from 0.21 in Q1 2026.

Analysis

Cloudflare (NET) Debt Ratio (2018 - 2026) Analysis & Trends

Cloudflare has disclosed Debt Ratio across 6 years of filings, most recently posting 0.2 for Q2 2026.

In Q2 2026, Debt Ratio changed N/A year-over-year to 0.2; the TTM figure through Jun 2026 stood at 0.2 (changed N/A YoY), while the FY2025 annual figure was 0.21, changed N/A from the prior year.
Debt Ratio came in at 0.2 for Q2 2026 at Cloudflare, down from 0.21 in the prior quarter.
In the past five years, Debt Ratio ranged from a high of 0.22 in Q3 2025 to a low of 0.01 in Q2 2023.
Average Debt Ratio over 3 years is 0.17, with a median of 0.21 recorded in 2026.

Peer Set

Peer Comparison

All peers

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Debt Ratio (Qtr)
1	Microsoft	3,717.88 Bn	3,585.13 Bn	60.48 Bn	0.05
2	International Business Machines	219.37 Bn	208.10 Bn	9.91 Bn	0.45
3	Cloudflare	113.46 Bn	109.29 Bn	499.52 Mn	0.20
4	Equinix	102.39 Bn	100.19 Bn	1.40 Bn	0.48
5	Nebius	57.34 Bn	49.30 Bn	448.70 Mn	0.31
6	CoreWeave	47.88 Bn	42.34 Bn	1.70 Bn	0.05
7	Verisign	26.51 Bn	25.48 Bn	384.60 Mn	1.29
8	Nutanix	18.85 Bn	16.49 Bn	651.35 Mn	-
9	Akamai Technologies	17.01 Bn	13.65 Bn	613.75 Mn	0.11
10	DigitalOcean Holdings	14.83 Bn	14.06 Bn	154.66 Mn	0.39

Historic Data

Download Data

Date	Value
Jun 30, 2026	0.20
Mar 31, 2026	0.21
Dec 31, 2025	0.21
Sep 30, 2025	0.22
Jun 30, 2023	0.01
Dec 31, 2021	0.01
Sep 30, 2019	0.00
Dec 31, 2018	0.00

API Access

Cloudflare Debt Ratio API

Pull this series into your own models, spreadsheets and apps with the Business Quant Historical Metrics API. The request below matches the chart above — change the frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.

https://data.businessquant.com/historic?slug=debt-ratio&ticker=NET&period=max&api_key=YOUR_API_KEY

import requests

url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "NET", "period": "max", "api_key": "YOUR_API_KEY"}

data = requests.get(url, params=params).json()

const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();

API documentation

Cloudflare (NET) Debt Ratio (2018 - 2026)