Cloudflare price to book ratio NET

Market value divided by the book value of the company's net assets, since 2019.

Today, Oct 23, 2026: 71.6×
7-year median: 35.0×
Against its 7-year history: 98th; percentile: 0 is its lowest day, 100 its highest
7-year range: 6.8× to 79.6×
Peer median: 7.9×

Cloudflare's price to book ratio is 71.6× as of Oct 23, 2026.

That is above its 7-year median of 35.0×, higher than on 98% of days in the last 7 years.

Over that time it ranged from 6.8× in Dec 2019 to 79.6× in Nov 2021.

The median for 10 infrastructure software stocks of a similar size is 7.9×.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	71.6×	40.3×	79.3×
2025	52.6×	32.0×	65.9×
2024	39.0×	28.9×	51.8×
2023	40.0×	22.1×	40.8×
2022	25.0×	22.7×	49.3×
2021	49.6×	25.3×	79.6×
2020	28.3×	7.0×	31.6×
2019	6.8×	6.8×	7.9×

Against its peers

Companies in Software - Infrastructure nearest Cloudflare's size, closest first, today.

Company	Price to book ratio
NETCloudflare	71.6×
FTNTFortinet	85.1×
SNPSSynopsys	2.6×
CRWDCrowdStrike	51.7×
XYZBlock	2.1×
PANWPalo Alto Networks	11.3×
ZSZscaler	16.0×
TWLOTwilio	4.5×
OKTAOkta	5.3×
ORCLOracle	5.7×
MDBMongoDB	10.0×
Peer median	7.9×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Cloudflare

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.