Cloudflare (NET) FCF Margin (2018 - 2026)

Cloudflare has disclosed FCF Margin across 9 years of filings, most recently posting 14.55% for Q1 2026.

• FCF Margin for Q1 2026 came in at 14.55%, up 205.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 26.19% (up 690.0% YoY), and the FY2025 annual result was 26.6%, up 725.0% from the prior year.
• FCF Margin came in at 14.55% for Q1 2026 at Cloudflare, down from 64.2% in the prior quarter.
• In the past five years, FCF Margin ranged from a high of 64.2% in Q4 2025 to a low of 24.69% in Q1 2022.
• The 5-year median for FCF Margin is 14.55% (2026), against an average of 14.67%.
• Across the five-year window, FCF Margin plunged 3867 bps in 2022 and jumped 4105 bps in 2025, its largest moves.
• Cloudflare's FCF Margin stood at 13.49% in 2022, then surged by 259 bps to 21.47% in 2023, then grew by 8 bps to 23.15% in 2024, then soared by 177 bps to 64.2% in 2025, then tumbled by 77 bps to 14.55% in 2026.
• The last three FCF Margin figures came in at 14.55% (Q1 2026), 64.2% (Q4 2025), and 2.17% (Q3 2025), per Business Quant data.