Cloudflare (NET) FCF Margin (2018 - 2026)
Cloudflare (NET) posted FCF Margin of 14.55% for Q1 2026, down 77.33% sequentially from 64.2% in Q4 2025, and up 205.0% YoY from 4.77% in Q1 2025.
Cloudflare (NET) FCF Margin (2018 - 2026) Analysis & Trends
Cloudflare (NET) has 9 years of FCF Margin data on file, last reported at 14.55% in Q1 2026.
- Quarterly FCF Margin rose 205.0% year-over-year to 14.55% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 26.19% (up 690.0% YoY) and the FY2025 annual result came in at 26.6%, up 725.0% from the prior year.
- FCF Margin slipped to 14.55% in Q1 2026 per NET's latest filing, from 64.2% in the prior quarter.
- The five-year high for FCF Margin was 64.2% in Q4 2025, with the low at 24.69% in Q1 2022.
- Average FCF Margin over 5 years is 14.67%, with a median of 14.55% recorded in 2026.
- Year-over-year, FCF Margin slumped 3867 bps in 2022 and surged 4105 bps in 2025.
- Cloudflare's FCF Margin stood at 13.49% in 2022, then surged by 259 bps to 21.47% in 2023, then gained by 8 bps to 23.15% in 2024, then soared by 177 bps to 64.2% in 2025, then plunged by 77 bps to 14.55% in 2026.
- Business Quant data shows NET's FCF Margin at 14.55% in Q1 2026, 64.2% in Q4 2025, and 2.17% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,853.66 Bn | 2,775.39 Bn | 56.06 Bn | 19.07% |
| 2 | Oracle | 408.21 Bn | 376.86 Bn | 17.12 Bn | 72.18% |
| 3 | Palantir Technologies | 300.98 Bn | 293.06 Bn | 1.42 Bn | 54.62% |
| 4 | Palo Alto Networks | 247.84 Bn | 243.30 Bn | 1.91 Bn | 14.80% |
| 5 | CrowdStrike Holdings | 193.63 Bn | 190.57 Bn | 993.68 Mn | 30.29% |
| 6 | Fortinet | 117.45 Bn | 114.16 Bn | 1.49 Bn | 55.21% |
| 7 | Cloudflare | 86.88 Bn | 85.93 Bn | 455.60 Mn | 14.55% |
| 8 | Synopsys | 86.18 Bn | 86.06 Bn | 1.77 Bn | 34.10% |
| 9 | Block | 46.10 Bn | 39.21 Bn | 2.91 Bn | 15.44% |
| 10 | CoreWeave | 45.15 Bn | 42.89 Bn | 2.01 Bn | -226.71% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 14.55% |
| Dec 31, 2025 | 64.20% |
| Sep 30, 2025 | -2.17% |
| Jun 30, 2025 | 26.27% |
| Mar 31, 2025 | 12.50% |
| Dec 31, 2024 | 23.15% |
| Sep 30, 2024 | 19.20% |
| Jun 30, 2024 | 23.10% |
| Mar 31, 2024 | 10.97% |
| Dec 31, 2023 | 21.47% |
| Sep 30, 2023 | 31.46% |
| Jun 30, 2023 | 8.33% |
| Mar 31, 2023 | 6.50% |
| Dec 31, 2022 | -13.49% |
| Sep 30, 2022 | 19.49% |
| Jun 30, 2022 | 8.51% |
| Mar 31, 2022 | -24.69% |
| Dec 31, 2021 | 25.18% |
| Sep 30, 2021 | -5.37% |
| Jun 30, 2021 | 6.81% |