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Cloudflare (NET) Invested Capital (2018 - 2025)

Cloudflare (NET) has disclosed Invested Capital for 8 consecutive years, with $2.8 billion as the latest value for Q4 2025.

  • Quarterly Invested Capital rose 162.89% to $2.8 billion in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $2.8 billion through Dec 2025, up 162.89% year-over-year, with the annual reading at $2.8 billion for FY2025, 162.89% up from the prior year.
  • Invested Capital hit $2.8 billion in Q4 2025 for Cloudflare, up from $2.6 billion in the prior quarter.
  • In the past five years, Invested Capital ranged from a high of $2.8 billion in Q4 2025 to a low of $515.5 million in Q1 2022.
  • Historically, Invested Capital has averaged $1.0 billion across 5 years, with a median of $802.6 million in 2021.
  • Biggest five-year swings in Invested Capital: plummeted 35.89% in 2022 and later skyrocketed 171.02% in 2025.
  • Year by year, Invested Capital stood at $823.5 million in 2021, then decreased by 24.23% to $624.0 million in 2022, then increased by 22.29% to $763.0 million in 2023, then skyrocketed by 37.11% to $1.0 billion in 2024, then surged by 162.89% to $2.8 billion in 2025.
  • Business Quant data shows Invested Capital for NET at $2.8 billion in Q4 2025, $2.6 billion in Q3 2025, and $1.2 billion in Q2 2025.