Cloudflare (NET) EV to EBITDA (2023 - 2026)
Cloudflare's (NET) EV to EBITDA stood at 624.22 in Q1 2026, up 30.8% from 477.10 a year earlier but down 10.1% from the prior quarter.
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Analysis
Cloudflare (NET) EV to EBITDA (2023 - 2026) Analysis & Trends
On a TTM basis, Cloudflare's EV to EBITDA came in at 501.79 as of Mar 31, 2026, up 25.9% year-over-year; for FY2025, it came in at 694.61, up 12.7% from FY2024.
- Across earlier years, EV to EBITDA came in at 616.31 in FY2024 (-68.8%) and 1976.70 in FY2023.
- Quarterly EV to EBITDA has ranged from 477.10 in Q1 2025 to 3901.00 in Q1 2024 over the past five years.
- On a year-over-year basis, EV to EBITDA has increased for four consecutive quarters, with an average decline of 8.7% over the last six quarters.
- Per Business Quant, the preceding three quarters came in at 694.61 (Q4 2025), 841.92 (Q3 2025) and 991.79 (Q2 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 |
|---|---|
| Mar 31, 2026 | 624.22 |
| Dec 31, 2025 | 694.61 |
| Sep 30, 2025 | 841.92 |
| Jun 30, 2025 | 991.79 |
| Mar 31, 2025 | 477.10 |
| Dec 31, 2024 | 616.31 |
| Sep 30, 2024 | 600.35 |
| Jun 30, 2024 | 820.75 |
| Mar 31, 2024 | 3,901.00 |
| Dec 31, 2023 | 1,976.70 |
API Access
Cloudflare EV to EBITDA 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-ebitda&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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-ebitda&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();