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Cloudflare (NET) Operating Margin: 2018-2025

Historic Operating Margin for Cloudflare (NET) over the last 7 years, with Sep 2025 value amounting to -6.67%.

  • Cloudflare's Operating Margin rose 49.00% to -6.67% in Q3 2025 from the same period last year, while for Sep 2025 it was -9.57%, marking a year-over-year increase of 79.00%. This contributed to the annual value of -9.27% for FY2024, which is 503.00% up from last year.
  • Cloudflare's Operating Margin amounted to -6.67% in Q3 2025, which was up 49.23% from -13.13% recorded in Q2 2025.
  • Cloudflare's Operating Margin's 5-year high stood at -6.67% during Q3 2025, with a 5-year trough of -27.52% in Q2 2022.
  • Over the past 3 years, Cloudflare's median Operating Margin value was -11.68% (recorded in 2023), while the average stood at -11.52%.
  • Its Operating Margin has fluctuated over the past 5 years, first skyrocketed by 1,689bps in 2021, then crashed by 858bps in 2022.
  • Over the past 5 years, Cloudflare's Operating Margin (Quarterly) stood at -21.21% in 2021, then surged by 276bps to -18.45% in 2022, then soared by 664bps to -11.82% in 2023, then spiked by 427bps to -7.55% in 2024, then skyrocketed by 49bps to -6.67% in 2025.
  • Its Operating Margin stands at -6.67% for Q3 2025, versus -13.13% for Q2 2025 and -11.11% for Q1 2025.