Cloudflare (NET) EBITDA Margin (2018 - 2026)
Cloudflare (NET) reported EBITDA Margin of 9.69% for Q1 2026, up 142.0% year-over-year from 4.0% in Q1 2025, and down 20.95% sequentially from 8.01% in Q4 2025.
Cloudflare (NET) EBITDA Margin (2018 - 2026) Analysis & Trends
Cloudflare's EBITDA Margin history runs 9 years deep, the most recent figure standing at 9.69% for Q1 2026.
- Quarterly EBITDA Margin rose 142.0% year-over-year to 9.69% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 9.27% (down 60.0% YoY) and the FY2025 annual result came in at 9.56%, down 29.0% from the prior year.
- EBITDA Margin was 9.69% for Q1 2026 at Cloudflare, down from 8.01% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 6.67% in Q3 2025 to a low of 27.52% in Q2 2022.
- Median EBITDA Margin over the past 5 years was 11.82% (2023), compared with a mean of 13.37%.
- Across the five-year window, EBITDA Margin slumped 858 bps in 2022 and surged 956 bps in 2024, its largest moves.
- Over 5 years, EBITDA Margin stood at 18.45% in 2022, then jumped by 36 bps to 11.82% in 2023, then soared by 36 bps to 7.55% in 2024, then declined by 6 bps to 8.01% in 2025, then declined by 21 bps to 9.69% in 2026.
- Business Quant data shows NET's EBITDA Margin at 9.69% in Q1 2026, 8.01% in Q4 2025, and 6.67% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ZenaTech | 82,806.72 Bn | 82,806.72 Bn | - | -262.43% |
| 2 | Microsoft | 11,085.79 Bn | 11,007.52 Bn | 56.06 Bn | 46.33% |
| 3 | Palantir Technologies | 1,073.49 Bn | 1,065.58 Bn | 1.42 Bn | 46.18% |
| 4 | Rezolve Ai | 1,009.18 Bn | 1,009.17 Bn | - | - |
| 5 | Palo Alto Networks | 824.56 Bn | 820.03 Bn | 1.91 Bn | 15.30% |
| 6 | CrowdStrike Holdings | 701.26 Bn | 698.20 Bn | 993.68 Mn | 1.06% |
| 7 | Oracle | 514.97 Bn | 476.40 Bn | 17.12 Bn | 31.97% |
| 8 | Fortinet | 456.74 Bn | 453.45 Bn | 1.49 Bn | 31.36% |
| 9 | Cloudflare | 331.63 Bn | 330.68 Bn | 455.60 Mn | -9.69% |
| 10 | Synopsys | 303.79 Bn | 303.67 Bn | 1.77 Bn | 8.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -9.69% |
| Dec 31, 2025 | -8.01% |
| Sep 30, 2025 | -6.67% |
| Jun 30, 2025 | -13.13% |
| Mar 31, 2025 | -11.11% |
| Dec 31, 2024 | -7.55% |
| Sep 30, 2024 | -7.16% |
| Jun 30, 2024 | -8.65% |
| Mar 31, 2024 | -14.41% |
| Dec 31, 2023 | -11.82% |
| Sep 30, 2023 | -11.68% |
| Jun 30, 2023 | -18.21% |
| Mar 31, 2023 | -16.29% |
| Dec 31, 2022 | -18.45% |
| Sep 30, 2022 | -18.10% |
| Jun 30, 2022 | -27.52% |
| Mar 31, 2022 | -18.86% |
| Dec 31, 2021 | -21.21% |
| Sep 30, 2021 | -15.37% |
| Jun 30, 2021 | -18.94% |