Cloudflare (NET) Price to Book (2019 - 2026)
Cloudflare's Price to Book came in at 48.78 for Q2 2026, down 1.2% from 49.39 a year earlier but up 13.0% from the prior quarter.
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Analysis
Cloudflare (NET) Price to Book (2019 - 2026) Analysis & Trends
For FY2025, Cloudflare's Price to Book was 42.87, up 35.3% from FY2024.
- Going back by year, Price to Book was 31.69 in FY2024 (-2.6%), 32.53 in FY2023 (+56.7%), 20.76 in FY2022 (-53.9%) and 45.01 in FY2021 (+56.8%).
- The five-year range for quarterly Price to Book is 20.76 (Q4 2022) to 65.12 (Q1 2022).
- Year-over-year, Price to Book increased in four of the last eight quarters, with growth averaging 30.1%.
- The fastest year-over-year change in Price to Book over five years came in Q3 2021 (growth of 141.0%), and the weakest in Q1 2023 (a decline of 58.0%).
- Business Quant data shows NET's Price to Book at 43.15 (Q1 2026), 42.87 (Q4 2025) and 50.21 (Q3 2025) in the three quarters before Q2 2026.
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 | 48.78 |
| Mar 31, 2026 | 43.15 |
| Dec 31, 2025 | 42.87 |
| Sep 30, 2025 | 50.21 |
| Jun 30, 2025 | 49.39 |
| Mar 31, 2025 | 24.50 |
| Dec 31, 2024 | 31.69 |
| Sep 30, 2024 | 25.39 |
| Jun 30, 2024 | 28.50 |
| Mar 31, 2024 | 36.56 |
| Dec 31, 2023 | 32.53 |
| Sep 30, 2023 | 26.65 |
| Jun 30, 2023 | 29.72 |
| Mar 31, 2023 | 27.34 |
| Dec 31, 2022 | 20.76 |
| Sep 30, 2022 | 26.47 |
| Jun 30, 2022 | 21.31 |
| Mar 31, 2022 | 65.12 |
| Dec 31, 2021 | 45.01 |
| Sep 30, 2021 | 36.12 |
API Access
Cloudflare Price to Book 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=price-to-book&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();