Cloudflare (NET) Free Cash Flow (2018 - 2026)
Cloudflare's (NET) quarterly Free Cash Flow came in at $67.6 million in Q2 2026, up 69.44% year-over-year from $39.9 million in Q2 2025, and down 27.39% quarter-over-quarter from $93.1 million in Q1 2026.
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Analysis
Cloudflare (NET) Free Cash Flow (2018 - 2026) Analysis & Trends
Cloudflare has disclosed Free Cash Flow across 9 years of filings, most recently posting $67.6 million for Q2 2026.
- In Q2 2026, Free Cash Flow rose 69.44% year-over-year to $67.6 million; the TTM figure through Jun 2026 stood at $348.4 million (up 67.12% YoY), while the FY2025 annual figure was $287.5 million, up 47.14% from the prior year.
- Free Cash Flow came in at $67.6 million for Q2 2026 at Cloudflare, down from $93.1 million in the prior quarter.
- In the past five years, Free Cash Flow ranged from a high of $105.2 million in Q4 2025 to a low of -$59.9 million in Q1 2022.
- Average Free Cash Flow over 5 years is $42.4 million, with a median of $43.4 million recorded in 2024.
- Year-over-year, Free Cash Flow sank 4989.72% in 2022 and jumped 5052.65% in 2023.
- Over 5 years, Free Cash Flow stood at $38.0 million in 2022, then soared by 43.83% to $54.6 million in 2023, then fell by 0.86% to $54.2 million in 2024, then jumped by 94.3% to $105.2 million in 2025, then sank by 35.75% to $67.6 million in 2026.
- Per Business Quant data, the three most recent Free Cash Flow figures were $67.6 million in Q2 2026, $93.1 million in Q1 2026, and $105.2 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,717.88 Bn | 3,585.13 Bn | 60.48 Bn | 19.64 Bn |
| 2 | International Business Machines | 219.37 Bn | 208.10 Bn | 9.91 Bn | 2.37 Bn |
| 3 | Cloudflare | 113.46 Bn | 109.29 Bn | 499.52 Mn | 67.60 Mn |
| 4 | Equinix | 102.39 Bn | 100.19 Bn | 1.40 Bn | -511.00 Mn |
| 5 | Nebius | 57.34 Bn | 49.30 Bn | 448.70 Mn | 7.90 Bn |
| 6 | CoreWeave | 47.88 Bn | 42.34 Bn | 1.70 Bn | -5.74 Bn |
| 7 | Verisign | 26.51 Bn | 25.48 Bn | 384.60 Mn | 212.80 Mn |
| 8 | Nutanix | 18.85 Bn | 16.49 Bn | 651.35 Mn | 277.57 Mn |
| 9 | Akamai Technologies | 17.01 Bn | 13.65 Bn | 613.75 Mn | 181.34 Mn |
| 10 | DigitalOcean Holdings | 14.83 Bn | 14.06 Bn | 154.66 Mn | 76.27 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 67.60 Mn |
| Mar 31, 2026 | 93.10 Mn |
| Dec 31, 2025 | 105.22 Mn |
| Sep 30, 2025 | 82.48 Mn |
| Jun 30, 2025 | 39.90 Mn |
| Mar 31, 2025 | 59.90 Mn |
| Dec 31, 2024 | 54.16 Mn |
| Sep 30, 2024 | 54.52 Mn |
| Jun 30, 2024 | 45.19 Mn |
| Mar 31, 2024 | 41.52 Mn |
| Dec 31, 2023 | 54.63 Mn |
| Sep 30, 2023 | 40.81 Mn |
| Jun 30, 2023 | 25.70 Mn |
| Mar 31, 2023 | 18.87 Mn |
| Dec 31, 2022 | 37.98 Mn |
| Sep 30, 2022 | 792,000.00 |
| Jun 30, 2022 | 1.17 Mn |
| Mar 31, 2022 | -59.95 Mn |
| Dec 31, 2021 | 12.28 Mn |
| Sep 30, 2021 | -35.73 Mn |
API Access
Cloudflare Free Cash Flow 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=free-cash-flow&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();