Cloudflare (NET) Net Margin (2018 - 2026)
Cloudflare (NET) reported Net Margin of 3.58% for Q1 2026, up 445.0% year-over-year from 0.66% in Q1 2025, and down 82.26% sequentially from 1.96% in Q4 2025.
Cloudflare (NET) Net Margin (2018 - 2026) Analysis & Trends
Cloudflare's Net Margin history runs 9 years deep, the most recent figure standing at 3.58% for 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 3.73% (up 89.0% YoY) and the FY2025 annual result came in at 4.72%, changed 0.0% from the prior year.
- Net Margin was 3.58% for Q1 2026 at Cloudflare, down from 1.96% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 0.23% in Q3 2025 to a low of 30.63% in Q2 2023.
- Median Net Margin over the past 5 years was 8.03% (2025), compared with a mean of 10.69%.
- Across the five-year window, Net Margin surged 4552 bps in 2022 and tumbled 611 bps in 2025, its largest moves.
- Over 5 years, Net Margin stood at 16.71% in 2022, then surged by 54 bps to 7.69% in 2023, then jumped by 64 bps to 2.8% in 2024, then climbed by 30 bps to 1.96% in 2025, then tumbled by 82 bps to 3.58% in 2026.
- Business Quant data shows NET's Net Margin at 3.58% in Q1 2026, 1.96% in Q4 2025, and 0.23% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ZenaTech | 82,806.72 Bn | 82,806.72 Bn | - | -262.43% |
| 2 | Microsoft | 11,085.79 Bn | 11,007.52 Bn | 56.06 Bn | 38.34% |
| 3 | Palantir Technologies | 1,073.49 Bn | 1,065.58 Bn | 1.42 Bn | 53.68% |
| 4 | Rezolve Ai | 1,009.18 Bn | 1,009.17 Bn | - | - |
| 5 | Palo Alto Networks | 824.56 Bn | 820.03 Bn | 1.91 Bn | 16.65% |
| 6 | CrowdStrike Holdings | 701.26 Bn | 698.20 Bn | 993.68 Mn | 4.71% |
| 7 | Oracle | 514.97 Bn | 476.40 Bn | 17.12 Bn | 22.44% |
| 8 | Fortinet | 456.74 Bn | 453.45 Bn | 1.49 Bn | 28.90% |
| 9 | Cloudflare | 331.63 Bn | 330.68 Bn | 455.60 Mn | -3.58% |
| 10 | Synopsys | 303.79 Bn | 303.67 Bn | 1.77 Bn | 2.69% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -3.58% |
| Dec 31, 2025 | -1.96% |
| Sep 30, 2025 | -0.23% |
| Jun 30, 2025 | -9.86% |
| Mar 31, 2025 | -8.03% |
| Dec 31, 2024 | -2.80% |
| Sep 30, 2024 | -3.56% |
| Jun 30, 2024 | -3.75% |
| Mar 31, 2024 | -9.39% |
| Dec 31, 2023 | -7.69% |
| Sep 30, 2023 | -7.01% |
| Jun 30, 2023 | -30.63% |
| Mar 31, 2023 | -13.12% |
| Dec 31, 2022 | -16.71% |
| Sep 30, 2022 | -16.76% |
| Jun 30, 2022 | -27.09% |
| Mar 31, 2022 | -19.52% |
| Dec 31, 2021 | -40.01% |
| Sep 30, 2021 | -62.28% |
| Jun 30, 2021 | -23.30% |