Cloudflare (NET) Price to FCF (2023 - 2026)
Cloudflare's (NET) quarterly Price to FCF came in at 1168.93 in Q2 2026, down 23.83% year-over-year from 1534.66 in Q2 2025, and up 65.19% quarter-over-quarter from 707.63 in Q1 2026.
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Analysis
Cloudflare (NET) Price to FCF (2023 - 2026) Analysis & Trends
Cloudflare has disclosed Price to FCF across 8 years of filings, most recently posting 1168.93 for Q2 2026.
- In Q2 2026, Price to FCF fell 23.83% year-over-year to 1168.93; the TTM figure through Jun 2026 stood at 226.81 (down 22.78% YoY), while the FY2025 annual figure was 217.6, up 28.24% from the prior year.
- Price to FCF came in at 1168.93 for Q2 2026 at Cloudflare, up from 707.63 in the prior quarter.
- In the past five years, Price to FCF ranged from a high of 19849.39 in Q3 2022 to a low of 559.91 in Q1 2022.
- Average Price to FCF over 5 years is 2253.47, with a median of 657.09 recorded in 2024.
- The largest YoY upside for Price to FCF was 2401.3% in 2022 against a maximum downside of 103.14% in 2022.
- Over 5 years, Price to FCF stood at 341.13 in 2022, then soared by 33.19% to 454.35 in 2023, then surged by 34.74% to 612.2 in 2024, then retreated by 2.88% to 594.55 in 2025, then soared by 96.61% to 1168.93 in 2026.
- Per Business Quant data, the three most recent Price to FCF figures were 1168.93 in Q2 2026, 707.63 in Q1 2026, and 594.55 in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,717.88 Bn | 3,585.13 Bn | 60.48 Bn |
| 2 | International Business Machines | 219.37 Bn | 208.10 Bn | 9.91 Bn |
| 3 | Cloudflare | 113.46 Bn | 109.29 Bn | 499.52 Mn |
| 4 | Equinix | 102.39 Bn | 100.19 Bn | 1.40 Bn |
| 5 | Nebius | 57.34 Bn | 49.30 Bn | 448.70 Mn |
| 6 | CoreWeave | 47.88 Bn | 42.34 Bn | 1.70 Bn |
| 7 | Verisign | 26.51 Bn | 25.48 Bn | 384.60 Mn |
| 8 | Nutanix | 18.85 Bn | 16.49 Bn | 651.35 Mn |
| 9 | Akamai Technologies | 17.01 Bn | 13.65 Bn | 613.75 Mn |
| 10 | DigitalOcean Holdings | 14.83 Bn | 14.06 Bn | 154.66 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 226.81 |
| Mar 31, 2026 | 205.42 |
| Dec 31, 2025 | 217.60 |
| Sep 30, 2025 | 286.05 |
| Jun 30, 2025 | 293.71 |
| Mar 31, 2025 | 163.42 |
| Dec 31, 2024 | 169.68 |
| Sep 30, 2024 | 126.12 |
| Jun 30, 2024 | 137.93 |
| Mar 31, 2024 | 179.20 |
| Dec 31, 2023 | 177.27 |
| Sep 30, 2023 | 151.08 |
| Jun 30, 2023 | 228.89 |
| Mar 31, 2023 | 303.40 |
API Access
Cloudflare Price to FCF 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-fcf&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-fcf", "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-fcf&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();