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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Cloudflare (NET) Gross Margin (2018 - 2025)

Cloudflare's Gross Margin history spans 8 years, with the latest figure at 73.64% for Q4 2025.

  • For Q4 2025, Gross Margin fell 273.0% year-over-year to 73.64%; the TTM value through Dec 2025 reached 74.51%, down 280.0%, while the annual FY2025 figure was 74.51%, 280.0% down from the prior year.
  • Gross Margin for Q4 2025 was 73.64% at Cloudflare, roughly flat from 73.97% in the prior quarter.
  • Across five years, Gross Margin topped out at 78.23% in Q3 2021 and bottomed at 73.64% in Q4 2025.
  • The 5-year median for Gross Margin is 76.55% (2023), against an average of 76.39%.
  • The largest annual shift saw Gross Margin soared 219bps in 2024 before it plummeted -372bps in 2025.
  • A 5-year view of Gross Margin shows it stood at 78.05% in 2021, then decreased by -3bps to 75.32% in 2022, then grew by 2bps to 77.02% in 2023, then decreased by -1bps to 76.37% in 2024, then fell by -4bps to 73.64% in 2025.
  • Per Business Quant, the three most recent readings for NET's Gross Margin are 73.64% (Q4 2025), 73.97% (Q3 2025), and 74.88% (Q2 2025).