Cloudflare (NET) EBT Margin (2018 - 2026)
Cloudflare's (NET) quarterly EBT Margin came in at 3.35% in Q1 2026, up 433.0% year-on-year from 0.63% in Q1 2025, and down 95.63% quarter-over-quarter from 1.71% in Q4 2025.
Cloudflare (NET) EBT Margin (2018 - 2026) Analysis & Trends
Cloudflare has disclosed EBT Margin across 9 years of filings, most recently posting 3.35% for Q1 2026.
- EBT Margin for Q1 2026 came in at 3.35%, up 433.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 3.32% (up 88.0% YoY), and the FY2025 annual result was 4.28%, down 3.0% from the prior year.
- EBT Margin came in at 3.35% for Q1 2026 at Cloudflare, down from 1.71% in the prior quarter.
- In the past five years, EBT Margin ranged from a high of 0.33% in Q3 2025 to a low of 30.15% in Q2 2023.
- The 5-year median for EBT Margin is 7.67% (2025), against an average of 10.29%.
- Across the five-year window, EBT Margin surged 4785 bps in 2022 and sank 576 bps in 2025, its largest moves.
- Cloudflare's EBT Margin stood at 16.33% in 2022, then jumped by 56 bps to 7.12% in 2023, then surged by 67 bps to 2.36% in 2024, then rose by 27 bps to 1.71% in 2025, then plunged by 96 bps to 3.35% in 2026.
- The last three EBT Margin figures came in at 3.35% (Q1 2026), 1.71% (Q4 2025), and 0.33% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,064.95 Bn | 2,986.68 Bn | 56.06 Bn | 47.46% |
| 2 | Alarum Technologies | 1,117.04 Bn | 1,102.89 Bn | 7.23 Mn | 6.63% |
| 3 | Oracle | 608.54 Bn | 569.96 Bn | 15.14 Bn | 25.69% |
| 4 | Palantir Technologies | 326.97 Bn | 319.05 Bn | 1.42 Bn | 54.43% |
| 5 | Palo Alto Networks | 185.10 Bn | 180.56 Bn | 1.91 Bn | 21.16% |
| 6 | CrowdStrike Holdings | 165.31 Bn | 162.25 Bn | 993.68 Mn | 4.43% |
| 7 | Fortinet | 105.66 Bn | 102.37 Bn | 1.49 Bn | 35.50% |
| 8 | Synopsys | 89.71 Bn | 89.60 Bn | 1.77 Bn | 3.28% |
| 9 | Cloudflare | 87.54 Bn | 86.60 Bn | 455.60 Mn | -3.35% |
| 10 | CoreWeave | 53.90 Bn | 51.63 Bn | 2.01 Bn | -31.57% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -3.35% |
| Dec 31, 2025 | -1.71% |
| Sep 30, 2025 | 0.33% |
| Jun 30, 2025 | -9.23% |
| Mar 31, 2025 | -7.67% |
| Dec 31, 2024 | -2.36% |
| Sep 30, 2024 | -2.98% |
| Jun 30, 2024 | -3.47% |
| Mar 31, 2024 | -8.79% |
| Dec 31, 2023 | -7.12% |
| Sep 30, 2023 | -6.64% |
| Jun 30, 2023 | -30.15% |
| Mar 31, 2023 | -12.67% |
| Dec 31, 2022 | -16.33% |
| Sep 30, 2022 | -16.22% |
| Jun 30, 2022 | -27.17% |
| Mar 31, 2022 | -19.33% |
| Dec 31, 2021 | -29.41% |
| Sep 30, 2021 | -64.07% |
| Jun 30, 2021 | -26.12% |