Cloudflare (NET) Net Margin (2018 - 2026)
Cloudflare (NET) reported Net Margin of 3.58% for Q1 2026, up 445.0% on a YoY basis from 0.66% in Q1 2025, and down 82.14% sequentially from 1.97% in Q4 2025.
Cloudflare (NET) Net Margin (2018 - 2026) Analysis & Trends
Cloudflare (NET) has 9 years of Net Margin data on file, last reported at 3.58% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin rose 445.0% year-over-year to 3.58%; the trailing twelve-month figure through Mar 2026 stood at 3.72% (up 89.0% YoY), and the FY2025 full-year result was 4.72%, changed 0.0% from the prior year.
- Net Margin declined to 3.58% in Q1 2026, from 1.97% 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.
- A 5-year average of 10.69% and a median of 8.03% in 2025 frame the typical range for Net Margin.
- Across the five-year window, Net Margin soared 4552 bps in 2022 and tumbled 609 bps in 2025, its largest moves.
- Tracing NET's Net Margin over 5 years: 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 increased by 30 bps to 1.97% in 2025, then plunged by 82 bps to 3.58% in 2026.
- Business Quant data shows NET's Net Margin at 3.58% in Q1 2026, 1.97% 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 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 38.34% |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 13.90% |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | 30.88% |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 53.68% |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 16.65% |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 4.71% |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 28.90% |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | -3.58% |
| 10 | Synopsys | 70.83 Bn | 68.63 Bn | 1.77 Bn | 2.69% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -3.58% |
| Dec 31, 2025 | -1.97% |
| Sep 30, 2025 | -0.23% |
| Jun 30, 2025 | -9.85% |
| Mar 31, 2025 | -8.03% |
| Dec 31, 2024 | -2.80% |
| Sep 30, 2024 | -3.56% |
| Jun 30, 2024 | -3.76% |
| Mar 31, 2024 | -9.39% |
| Dec 31, 2023 | -7.70% |
| Sep 30, 2023 | -7.01% |
| Jun 30, 2023 | -30.63% |
| Mar 31, 2023 | -13.12% |
| Dec 31, 2022 | -16.72% |
| Sep 30, 2022 | -16.76% |
| Jun 30, 2022 | -27.08% |
| Mar 31, 2022 | -19.50% |
| Dec 31, 2021 | -40.01% |
| Sep 30, 2021 | -62.28% |
| Jun 30, 2021 | -23.30% |