Cloudflare reported a gross margin of 71.76% and a net margin of -24.42% for the quarter ended Jun 2026. These financial ratios cover 32 quarters of results from Sep 2018 through Jun 2026, standardized by Business Quant from the company’s SEC filings.
| Ratios | Sep2018 | Dec2018 | Mar2019 | Jun2019 | Sep2019 | Dec2019 | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||||||||||||||||||||||||
| Gross Margin | 78.23% | 78.05% | 77.82% | 76.20% | 75.59% | 75.32% | 75.73% | 75.62% | 76.74% | 77.02% | 77.54% | 77.80% | 77.69% | 76.37% | 75.88% | 74.88% | 73.97% | 73.64% | 71.21% | 71.76% | ||||||||||||
| EBT Margin | -64.07% | -29.41% | -19.33% | -27.17% | -16.22% | -16.33% | -12.67% | -30.15% | -6.64% | -7.12% | -8.79% | -3.47% | -2.98% | -2.36% | -7.67% | -9.23% | 0.33% | -1.71% | -3.35% | -24.13% | ||||||||||||
| EBIT Margin | -15.37% | -21.21% | -18.86% | -27.52% | -18.10% | -18.45% | -16.29% | -18.21% | -11.68% | -11.82% | -14.41% | -8.65% | -7.16% | -7.55% | -11.11% | -13.13% | -6.67% | -8.01% | -9.69% | -29.55% | ||||||||||||
| EBITDA Margin | -15.37% | -21.21% | -18.86% | -27.52% | -18.10% | -18.45% | -16.29% | -18.21% | -11.68% | -11.82% | -14.41% | -8.65% | -7.16% | -7.55% | -11.11% | -13.13% | -6.67% | -8.01% | -9.69% | -29.55% | ||||||||||||
| Operating Margin | -15.37% | -21.21% | -18.86% | -27.52% | -18.10% | -18.45% | -16.29% | -18.21% | -11.68% | -11.82% | -14.41% | -8.65% | -7.16% | -7.55% | -11.11% | -13.13% | -6.67% | -8.01% | -9.69% | -29.55% | ||||||||||||
| Net Margin | -62.28% | -40.03% | -19.52% | -27.08% | -16.77% | -16.71% | -13.12% | -30.63% | -7.03% | -7.69% | -9.40% | -3.76% | -3.56% | -2.79% | -8.03% | -9.86% | -0.23% | -1.96% | -3.58% | -24.42% | ||||||||||||
| FCF Margin | -20.73% | 6.34% | -28.26% | 0.50% | 0.31% | 13.83% | 6.50% | 8.33% | 12.16% | 15.07% | 10.97% | 11.27% | 12.68% | 11.77% | 12.50% | 7.79% | 14.68% | 17.12% | 14.55% | 9.71% | ||||||||||||
| Efficiency | ||||||||||||||||||||||||||||||||
| Assets AverageAssets Avg. | 1.88B | 2.34B | 2.36B | 2.41B | 2.48B | 2.54B | 2.63B | 2.60B | 2.56B | 2.67B | 2.78B | 2.86B | 2.99B | 3.18B | 3.51B | 4.64B | 5.67B | 5.91B | 6.10B | 6.32B | ||||||||||||
| Invested CapitalInvested Cap. | 0.82B | 0.52B | 0.58B | 0.59B | 0.62B | 0.68B | 1.05B | 2.64B | 2.75B | 2.82B | 2.91B | |||||||||||||||||||||
| Asset Utilization RatioAsset Util. | 0.31 | 0.28 | 0.31 | 0.34 | 0.36 | 0.38 | 0.40 | 0.43 | 0.47 | 0.48 | 0.50 | 0.52 | 0.53 | 0.52 | 0.50 | 0.41 | 0.35 | 0.37 | 0.38 | 0.40 | ||||||||||||
| Leverage & Solvency | ||||||||||||||||||||||||||||||||
| Interest Coverage RatioInterest Cover | -2.13 | -2.55 | -25.71 | -62.06 | -30.39 | -57.93 | -22.24 | -36.50 | -34.46 | -40.06 | -49.59 | -28.49 | -21.49 | -24.03 | -36.90 | -44.14 | -12.86 | -17.05 | -24.19 | -66.59 | ||||||||||||
| Debt Ratio | 0.01 | 0.01 | 0.22 | 0.21 | 0.21 | 0.20 | ||||||||||||||||||||||||||
| Times Interest Earned | -2.13 | -2.55 | -25.71 | -62.06 | -30.39 | -57.93 | -22.24 | -36.50 | -34.46 | -40.06 | -49.59 | -28.49 | -21.49 | -24.03 | -36.90 | -44.14 | -12.86 | -17.05 | -24.19 | -66.59 | ||||||||||||
| Valuation | ||||||||||||||||||||||||||||||||
| Price to EarningsP/E | -287.14 | -471.20 | -810.62 | -194.80 | -369.26 | -282.30 | -468.53 | -201.87 | -790.34 | -890.68 | -819.36 | -0.00B | -0.00B | -0.00B | -908.31 | -0.00B | -0.00B | -0.00B | -0.00B | -464.90 | ||||||||||||
| Price to SalesP/S | 178.81 | 188.63 | 158.20 | 52.75 | 61.93 | 47.16 | 61.49 | 61.84 | 55.53 | 68.47 | 76.99 | 62.65 | 57.44 | 72.08 | 72.92 | 119.52 | 120.33 | 101.80 | 102.98 | 113.53 | ||||||||||||
| Price to BookP/B | 36.12 | 45.01 | 65.12 | 21.31 | 26.47 | 20.76 | 27.34 | 29.72 | 26.65 | 32.53 | 36.56 | 28.50 | 25.39 | 31.69 | 24.50 | 49.39 | 50.21 | 42.87 | 43.15 | 48.78 | ||||||||||||
| Enterprise Value | 29.00B | 34.70B | 31.84B | 10.73B | 14.08B | 11.31B | 16.13B | 17.49B | 17.06B | 23.15B | 27.43B | 23.37B | 22.88B | 31.30B | 33.02B | 57.27B | 63.59B | 58.46B | 61.72B | 74.86B | ||||||||||||
| EV to EBIT | -0.00B | -844.94 | -795.52 | -166.24 | -306.54 | -223.03 | -341.16 | -311.41 | -435.14 | -540.41 | -502.88 | -673.43 | -742.96 | -901.46 | -620.09 | -851.45 | -0.00B | -0.00B | -995.50 | -363.94 | ||||||||||||
| EV to EBITDA | -0.00B | -844.94 | -795.52 | -166.24 | -306.54 | -223.03 | -341.16 | -311.41 | -435.14 | -540.41 | -502.88 | -673.43 | -742.96 | -901.46 | -620.09 | -851.45 | -0.00B | -0.00B | -995.50 | -363.94 | ||||||||||||
| Market Capitalization | 30.82B | 36.52B | 33.57B | 12.37B | 15.72B | 12.96B | 17.84B | 19.08B | 18.64B | 24.82B | 29.15B | 25.12B | 24.70B | 33.15B | 34.93B | 61.23B | 67.63B | 62.56B | 65.88B | 79.02B | ||||||||||||
| Price to FCFP/FCF | -862.53 | 0.00B | -559.91 | 0.00B | 0.00B | 341.13 | 945.41 | 742.21 | 456.69 | 454.35 | 701.97 | 555.97 | 453.06 | 612.20 | 583.24 | 0.00B | 819.95 | 594.55 | 707.63 | 0.00B | ||||||||||||
| EV to FCF | -811.76 | 0.00B | -531.13 | 0.00B | 0.00B | 297.69 | 854.51 | 680.56 | 418.11 | 423.71 | 660.64 | 517.08 | 419.61 | 577.93 | 551.26 | 0.00B | 770.93 | 555.58 | 662.90 | 0.00B | ||||||||||||
| EV to CFO | -0.00B | 854.24 | -897.74 | 280.50 | 329.94 | 144.71 | 442.88 | 271.41 | 250.55 | 270.89 | 372.82 | 312.33 | 218.46 | 245.84 | 226.49 | 573.89 | 380.48 | 307.01 | 389.79 | 636.76 | ||||||||||||
| Return Ratios | ||||||||||||||||||||||||||||||||
| Return on Sales [ROS]ROS | -15.37% | -21.21% | -18.86% | -27.52% | -18.10% | -18.45% | -16.29% | -18.21% | -11.68% | -11.82% | -14.41% | -8.65% | -7.16% | -7.55% | -11.11% | -13.13% | -6.67% | -8.01% | -9.69% | -29.55% | ||||||||||||
| Return on Capital Employed [ROCE]ROCE | -6.73% | -6.21% | -6.54% | -8.28% | -8.95% | -9.40% | -9.55% | -9.41% | -9.28% | -8.80% | -8.74% | -7.57% | -6.94% | -6.48% | -5.70% | -4.92% | -5.58% | -5.82% | -5.85% | -9.60% | ||||||||||||
| Return on Invested Capital [ROIC]ROIC | -21.50% | -33.45% | -36.19% | -33.50% | -8.49% | -8.70% | -12.88% | |||||||||||||||||||||||||
| Return on Assets [ROA]ROA | -11.53% | -11.11% | -11.08% | -12.02% | -9.07% | -7.62% | -7.23% | -8.50% | -7.89% | -6.88% | -6.53% | -3.57% | -3.14% | -2.48% | -2.33% | -2.52% | -1.82% | -1.73% | -1.42% | -3.26% |