Cloudflare (NET) EV to CFO (2021 - 2026)
Cloudflare's EV to CFO was 118.18 in Q2 2026, down 1.4% from 119.91 a year earlier but up 17.9% from the prior quarter.
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Analysis
Cloudflare (NET) EV to CFO (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cloudflare's EV to CFO was 98.75 through Jun 30, 2026, down 8.7% year-over-year; for FY2025, it was 96.93, up 17.8% from FY2024.
- In earlier years, EV to CFO was 82.27 in FY2024 (-9.6%), 90.98 in FY2023 (-0.5%), 91.47 in FY2022 (-83.0%) and 536.70 in FY2021.
- Quarterly EV to CFO has moved between 67.58 (Q3 2024) and 5598.75 (Q1 2022) over five years.
- Compared with a year earlier, EV to CFO was higher in four of the last eight quarters, with growth averaging 18.6%.
- The best year-over-year quarter for EV to CFO over five years was Q1 2022 (growth of 455.5%); the worst was Q1 2023 (a decline of 98.5%).
- Per Business Quant data, NET's EV to CFO in the three quarters before Q2 2026 was 100.24 (Q1 2026), 96.93 (Q4 2025) and 117.75 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn |
| 7 | Verisign | 27.46 Bn | 24.67 Bn | 384.60 Mn |
| 8 | Nutanix | 17.98 Bn | 9.67 Bn | 651.35 Mn |
| 9 | GoDaddy | 13.83 Bn | 9.41 Bn | 828.20 Mn |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 118.18 |
| Mar 31, 2026 | 100.24 |
| Dec 31, 2025 | 96.93 |
| Sep 30, 2025 | 117.75 |
| Jun 30, 2025 | 119.91 |
| Mar 31, 2025 | 72.95 |
| Dec 31, 2024 | 82.27 |
| Sep 30, 2024 | 67.58 |
| Jun 30, 2024 | 77.39 |
| Mar 31, 2024 | 94.08 |
| Dec 31, 2023 | 90.98 |
| Sep 30, 2023 | 69.06 |
| Jun 30, 2023 | 78.91 |
| Mar 31, 2023 | 82.50 |
| Dec 31, 2022 | 91.47 |
| Sep 30, 2022 | 163.60 |
| Jun 30, 2022 | 294.10 |
| Mar 31, 2022 | 5,598.75 |
| Dec 31, 2021 | 536.70 |
| Sep 30, 2021 | 1,905.92 |
API Access
Cloudflare EV to CFO 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=ev-to-cfo&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "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=ev-to-cfo&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();