Cloudflare (NET) Tax Rate (2025)
Cloudflare (NET) reported Tax Rate of -1.22% for Q2 2026, up 5.55 percentage points from -6.77% a year earlier and up 5.92 percentage points from the prior quarter.
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Analysis
Cloudflare (NET) Tax Rate (2025) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Cloudflare's Tax Rate came in at -4.18%, up 4.56 percentage points year-over-year; for FY2025, it was -10.31%, up 0.87 percentage points from FY2024.
- Tax Rate has a five-year change of -14.80 percentage points (FY2020 to FY2025).
- By year, Tax Rate came in at -11.19% in FY2024 (-7.77 pp), -3.42% in FY2023 (-2.03 pp), -1.39% in FY2022 (+3.59 pp) and -4.97% in FY2021 (-9.46 pp).
- Five-year quarterly Tax Rate spans a low of -36.13% in Q4 2021 and a high of 169.73% in Q3 2025.
- Year over year, Tax Rate gained in five of the last eight quarters, with an average year-over-year change of +21.93 percentage points.
- The high point for year-over-year Tax Rate in five years was Q3 2025 (a gain of 189.30 percentage points); the low point was Q4 2021 (a drop of 35.55 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -7.13% (Q1 2026), -14.86% (Q4 2025) and 169.73% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,944.62 Bn | 3,880.11 Bn | 62.56 Bn | 20.29% |
| 2 | International Business Machines | 231.10 Bn | 185.71 Bn | 9.71 Bn | 11.93% |
| 3 | Equinix | 100.11 Bn | 88.01 Bn | 1.31 Bn | 8.94% |
| 4 | Cloudflare | 96.02 Bn | 78.46 Bn | 557.23 Mn | - |
| 5 | Nebius | 31.44 Bn | 4.87 Bn | 448.70 Mn | - |
| 6 | Verisign | 27.82 Bn | 25.17 Bn | 393.20 Mn | 23.96% |
| 7 | CoreWeave | 25.57 Bn | 12.66 Bn | 1.70 Bn | - |
| 8 | Nutanix | 15.68 Bn | 7.37 Bn | 651.35 Mn | - |
| 9 | GoDaddy | 14.30 Bn | 9.69 Bn | 843.00 Mn | 21.29% |
| 10 | Akamai Technologies | 12.01 Bn | 5.41 Bn | 613.75 Mn | 20.62% |
API Access
Cloudflare Tax Rate 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=tax-rate&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();