Cloudflare (NET) Net Margin (2018 - 2026)

Cloudflare (NET) posted Net Margin of 3.58% for Q1 2026, down 82.14% sequentially from 1.97% in Q4 2025, and up 445.0% YoY from 0.66% in Q1 2025.

Cloudflare (NET) Net Margin (2018 - 2026) Analysis & Trends

Cloudflare has reported Net Margin for 9 years, with the latest figure at 3.58% in Q1 2026.

Quarterly Net Margin rose 445.0% year-over-year to 3.58% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 3.72% (up 89.0% YoY) and the FY2025 annual result came in at 4.72%, changed 0.0% from the prior year.
Net Margin declined to 3.58% in Q1 2026 per NET's latest filing, from 1.97% in the prior quarter.
Over five years, Net Margin peaked at 0.23% in Q3 2025 and troughed at 30.63% in Q2 2023.
A 5-year average of 10.69% and a median of 8.03% in 2025 frame the typical range for Net Margin.
The sharpest annual moves came in 2022 and 2025: Net Margin surged 4552 bps in 2022, then sank 609 bps in 2025.
Over 5 years, Net Margin stood at 16.72% in 2022, then surged by 54 bps to 7.7% in 2023, then surged by 64 bps to 2.8% in 2024, then advanced by 30 bps to 1.97% in 2025, then tumbled by 82 bps to 3.58% in 2026.
According to Business Quant data, Net Margin over the past three periods registered 3.58%, 1.97%, and 0.23% for Q1 2026, Q4 2025, and Q3 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Net Margin (Qtr)
1	Microsoft	3,679.34 Bn	3,546.58 Bn	60.48 Bn	36.78%
2	Oracle	433.50 Bn	402.15 Bn	-	30.88%
3	Palantir Technologies	418.20 Bn	408.90 Bn	1.64 Bn	55.08%
4	Palo Alto Networks	312.41 Bn	309.30 Bn	2.03 Bn	-5.90%
5	Fortinet	117.38 Bn	113.31 Bn	1.64 Bn	29.55%
6	Cloudflare	101.74 Bn	97.57 Bn	499.52 Mn	-24.42%
7	Synopsys	80.70 Bn	78.49 Bn	1.77 Bn	2.69%
8	CoreWeave	58.00 Bn	52.46 Bn	1.70 Bn	-24.31%
9	Block	49.79 Bn	43.33 Bn	3.17 Bn	1.32%
10	NetApp	40.59 Bn	37.00 Bn	1.37 Bn	-30.24%

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