Cloudflare (NET) Return on Invested Capital [ROIC] (2019 - 2026)
Cloudflare (NET) reported Return on Invested Capital [ROIC] of -12.36% for Q2 2026, down 4.61 percentage points from the prior quarter.
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Analysis
Cloudflare (NET) Return on Invested Capital [ROIC] (2019 - 2026) Analysis & Trends
For FY2025, Cloudflare posted Return on Invested Capital [ROIC] of -10.92%.
- Return on Invested Capital [ROIC] has a five-year change of +2.31 percentage points (FY2020 to FY2025).
- By year, Return on Invested Capital [ROIC] came in at -27.80% in FY2022 (-12.23 pp) and -15.57% in FY2021 (-2.35 pp).
- The Q2 2026 figure ranks as the lowest quarterly Return on Invested Capital [ROIC] since Q4 2022.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn | 26.70% |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn | 11.34% |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn | -12.36% |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn | 5.64% |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn | -3.32% |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn | -1.20% |
| 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 | 25.51% |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -12.36% |
| Mar 31, 2026 | -7.75% |
| Dec 31, 2025 | -7.69% |
| Dec 31, 2022 | -33.04% |
| Sep 30, 2022 | -32.62% |
| Jun 30, 2022 | -31.41% |
| Mar 31, 2022 | -20.38% |
| Dec 31, 2019 | -14.72% |
API Access
Cloudflare Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();