Cloudflare (NET) Other Working Capital Changes (2018 - 2026)
Cloudflare's Other Working Capital Changes was $57.47 million in Q2 2026, up 22.7% from $46.85 million a year earlier but down 17.5% from the prior quarter.
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Analysis
Cloudflare (NET) Other Working Capital Changes (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cloudflare's Other Working Capital Changes was $268.32 million through Jun 30, 2026, up 42.8% year-over-year; for FY2025, it came in at $223.82 million, up 65.8% from FY2024.
- Other Working Capital Changes has now increased for eight consecutive years, with a five-year compound annual growth rate of 54.8% (FY2020 to FY2025).
- In earlier years, Other Working Capital Changes was $135.01 million in FY2024 (+0.4%), $134.47 million in FY2023 (+31.6%), $102.2 million in FY2022 (+58.7%) and $64.39 million in FY2021 (+155.6%).
- Quarterly Other Working Capital Changes has moved between $6.67 million (Q2 2024) and $88.08 million (Q4 2024) over five years.
- Compared with a year earlier, Other Working Capital Changes was higher in six of the last eight quarters, with growth averaging 132.7%.
- The best year-over-year quarter for Other Working Capital Changes over five years was Q2 2025 (growth of 602.1%); the worst was Q2 2024 (a decline of 80.7%).
- Per Business Quant data, NET's Other Working Capital Changes in the three quarters before Q2 2026 was $69.68 million (Q1 2026), $78.8 million (Q4 2025) and $62.38 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn |
| 7 | Verisign | 27.46 Bn | 24.67 Bn | 384.60 Mn |
| 8 | Nutanix | 17.98 Bn | 9.67 Bn | 651.35 Mn |
| 9 | GoDaddy | 13.83 Bn | 9.41 Bn | 828.20 Mn |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -42.11 Mn |
| Mar 31, 2026 | -19.33 Mn |
| Dec 31, 2025 | -11.54 Mn |
| Sep 30, 2025 | -8.07 Mn |
| Jun 30, 2025 | -24.40 Mn |
| Mar 31, 2025 | -23.68 Mn |
| Dec 31, 2024 | 13.52 Mn |
| Sep 30, 2024 | -23.37 Mn |
| Jun 30, 2024 | -17.03 Mn |
| Mar 31, 2024 | -50.79 Mn |
| Dec 31, 2023 | 8.50 Mn |
| Sep 30, 2023 | -16.66 Mn |
| Jun 30, 2023 | -7.31 Mn |
| Mar 31, 2023 | -13.46 Mn |
| Dec 31, 2022 | 26.64 Mn |
| Sep 30, 2022 | -12.70 Mn |
| Jun 30, 2022 | -5.62 Mn |
| Mar 31, 2022 | -16.45 Mn |
| Dec 31, 2021 | -5.05 Mn |
| Sep 30, 2021 | -8.90 Mn |
API Access
Cloudflare Other Working Capital Changes API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=other-working-capital-changes&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "other-working-capital-changes", "ticker": "NET", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=other-working-capital-changes&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();