SuperworthCloudflare NET
- Market cap
- $116B
- PE
- n/m
- a loss over the last year
- Forward PE
- 220×
- 7y median 161×
- Price to sales
- 46.2×
- EV/EBIT
- n/m
- a loss over the last year
- Revenue, 12 months
- $2.5B
- +34% on a year ago
- Net margin
- −8.2%
- Free cash flow yield
- 0.3%
Cloudflare trades at 46.2× sales. Its trailing earnings are negative, so it has no PE. Revenue was $2.5B over the last twelve months, up 34% on a year earlier with a −8% net margin.
Charts
Financials
| Income statement | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $335.6M+32% | $362.5M+32% | $378.6M+31% | $401M+30% | $430.1M+28% | $459.9M+27% | $479.1M+27% | $512.3M+28% | $562M+31% | $614.5M+34% | $639.8M+34% | $696.1M+36% | |
| Cost of revenue | $78.1M+26% | $83.3M+23% | $85M+21% | $89M+18% | $96M+23% | $108.7M+31% | $115.6M+36% | $128.7M+45% | $146.3M+53% | $162M+49% | $184.2M+59% | $196.5M+53% |
| Gross profit | $257.5M+34% | $279.2M+35% | $293.6M+34% | $312M+34% | $334.1M+30% | $351.3M+26% | $363.5M+24% | $383.6M+23% | $415.7M+24% | $452.6M+29% | $455.6M+25% | $499.5M+30% |
| R&D | $90.6M+19% | $96.4M+21% | $87.7M+8% | $102.5M+14% | $110.9M+22% | $120.2M+25% | $115.1M+31% | $134.6M+31% | $121M+9% | $141.9M+18% | $151M+31% | $159.5M+19% |
| SG&A | $206.2M+28% | $225.6M+27% | $260.4M+40% | $244.1M+22% | $254M+23% | $265.8M+18% | $301.7M+16% | $316.3M+30% | $332.2M+31% | $359.9M+35% | $366.6M+22% | $395M+25% |
| −$39.2M−15% | −$42.8M−16% | −$54.5M+15% | −$34.7M−38% | −$30.8M−22% | −$34.7M−19% | −$53.2M−2% | −$67.3M+94% | −$37.5M+22% | −$49.2M+42% | −$62M+16% | −$205.7M+206% | |
| Interest expense | $1.1M−25% | $1.1M+22% | $1.1M−48% | $1.2M−21% | $1.4M+26% | $1.4M+35% | $1.4M+31% | $1.5M+25% | $2.9M+103% | $2.9M+100% | $2.6M+78% | $3.1M+103% |
| Pre-tax income | −$22.3M−46% | −$25.8M−42% | −$33.3M−10% | −$13.9M−85% | −$12.8M−43% | −$10.8M−58% | −$36.8M+11% | −$47.3M+239% | $1.9M | −$10.5M−3% | −$21.4M−42% | −$167.9M+255% |
| $1.3M−9% | $2.1M+92% | $2.3M+73% | $1.1M−22% | $2.5M+100% | $2M−2% | $1.7M−25% | $3.2M+176% | $3.1M+25% | $1.6M−22% | $1.5M−10% | $2M−35% | |
| Net income | −$23.5M−45% | −$27.9M−39% | −$35.5M−7% | −$15.1M−84% | −$15.3M−35% | −$12.8M−54% | −$38.5M+8% | −$50.4M+235% | −$1.3M−92% | −$12.1M−6% | −$22.9M−40% | −$170M+237% |
| −$0.07−46% | −$0.08−43% | −$0.10−17% | −$0.04−86% | −$0.04−43% | −$0.04−50% | −$0.11+10% | −$0.15+275% | $0.00 | −$0.03−25% | −$0.07−36% | −$0.48+220% | |
| 334.7M+3% | 336.6M+3% | 338.6M+3% | 340.6M+3% | 342.4M+2% | 344M+2% | 345.7M+2% | 347.5M+2% | 349.3M+2% | 351.1M+2% | 352.6M+2% | 354.3M+2% |
Net income: 7 periods, Q4 FY19 to Q4 FY25: printed in the fourth-quarter results release.
EPS, diluted: Q4 FY18: quarter's net income to common over its shares, to the cent. 7 periods, Q4 FY19 to Q4 FY25: printed in the fourth-quarter results release.
Diluted shares: Q4 FY18: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days. 7 periods, Q4 FY19 to Q4 FY25: printed in the fourth-quarter results release.
From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.
Estimates
Next earnings report: .
| Quarter | Revenue | Range | EPS | Range | Analysts |
|---|---|---|---|---|---|
| Q3 FY26 | $736.8M | $703.3M to $742M | $0.34 | $0.33 to $0.35 | 19 |
| Q4 FY26 | $795.9M | $794M to $799M | $0.38 | $0.37 to $0.40 | 19 |
| Q1 FY27 | $828.4M | $825.6M to $851.9M | $0.36 | $0.36 to $0.37 | 8 |
| Q2 FY27 | $894.8M | $891.8M to $920.2M | $0.40 | $0.40 to $0.41 | 8 |
| Q3 FY27 | $944.4M | $941.2M to $971.2M | $0.44 | $0.44 to $0.45 | 8 |
| Q4 FY27 | $1B | $1B to $1B | $0.48 | $0.48 to $0.50 | 14 |
| Q1 FY28 | $1.1B | $1.1B to $1.1B | $0.50 | $0.49 to $0.51 | 14 |
| Q2 FY28 | $1.1B | $1.1B to $1.2B | $0.55 | $0.55 to $0.57 | 10 |
Peers
Companies in Software - Infrastructure nearest Cloudflare's size, closest first.
| Company | Market cap | PE | Its 10y median PE | Fwd PE | P/S | Revenue growth | Net margin |
|---|---|---|---|---|---|---|---|
| NETCloudflare | $116B | n/m | n/a | 220× | 46.2× | +34% | −8.2% |
| FTNTFortinet | $132.1B | 63.4× | 56.4× | 51.1× | 17.5× | +19% | 28.2% |
| SNPSSynopsys | $82.4B | 76.0× | 54.3× | 24.5× | 8.8× | +46% | 11.4% |
| CRWDCrowdStrike | $263.7B | n/m | 438× | 182× | 48.9× | +24% | 0.8% |
| XYZBlock | $45.9B | 137× | 82.4× | 16.7× | 1.8× | +5% | 1.4% |
| PANWPalo Alto Networks | $311.3B | n/m | 111× | 90.9× | 27.1× | +24% | 2.7% |
| ZSZscaler | $41.6B | n/m | n/a | 52.3× | 12.4× | +25% | −1.9% |
| TWLOTwilio | $40.2B | 36.5× | 299× | 42.3× | 7.2× | +18% | 20.6% |
| OKTAOkta | $37.2B | 128× | 100× | 52.2× | 12.1× | +11% | 9.6% |
| ORCLOracle | $381.5B | 19.8× | 27.3× | 14.8× | 5.3× | +22% | 26.4% |
| MDBMongoDB | $29.9B | n/m | n/a | 53.0× | 10.7× | +25% | 2.1% |
| Peer median | $64.2B | 69.7× | 91.4× | 51.6× | 11.4× | +23% | 6.2% |
Investors who own it
Investors we follow who held Cloudflare at the end of Jun 30, 2026, from their 13F filings.
- Baillie GiffordBaillie Gifford3.2% of portfoliotrimmed
- Cathie WoodARK Investment Management0.3% of portfoliotrimmed
- Ron BaronBaron Capital0.2% of portfolioadded
More on Cloudflare
Each number over time
- PE ratio
- Forward PE
- Price to sales ratio
- Price to free cash flow
- Price to book ratio
- Market cap
- Revenue
- EPS
- Free cash flow
- Profit margin
- Shares outstanding
Where it ranks
Its groups
About
- Industry
- Software - Infrastructure
- Sector
- Technology
Valuation data, not investment advice. Prices as of .