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Cloudflare, Inc.

Cloudflare, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 29.8% from fiscal 2024. Revenue growth for five consecutive years, operating cash flow growth for five.

355.01 4.48 −1.25%

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Market cap: $129.0B
P/E: 0.0×
Dividend yield: —
F-score: 4/9
Altman Z: 9.43
Beneish M: −2.95
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	—	—	—	5	2	3	5	6	6	4
P/E ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score Full definition →	—	—	—	14.55	24.74	16.33	4.86	8.69	10.20	9.43
P/S ratio Full definition →	0.00	0.00	0.00	8.70	52.85	62.57	14.40	20.42	22.02	31.69
P/FCF ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	221.62	220.25	263.63
Altman Z″-Score (non-manufacturers) Full definition →	—	3.12	1.77	9.99	4.71	3.86	2.53	2.11	2.02	1.95
P/Operating CF Full definition →	0.00	0.00	(537.95)	(291.11)	(2,584.80)	1,011.16	179.70	309.87	288.77	360.75
Beneish M-Score Full definition →	—	—	(2.49)	(2.53)	(2.54)	(2.84)	(2.33)	(2.67)	(2.82)	(2.95)
P/B ratio Full definition →	0.00	0.00	0.00	3.44	27.88	50.62	22.50	34.70	35.14	47.08
Price to Tangible BV Full definition →	0.00	0.00	0.00	3.46	28.58	52.21	31.66	44.46	43.60	57.69
EV/Sales Full definition →	0.00	0.00	0.00	6.51	51.34	61.53	14.17	20.11	21.68	30.70
EV/EBITDA Full definition →	0.00	0.00	0.00	0.00	0.00	2,812.03	0.00	1,607.27	661.11	729.53
EV/Operating CF Full definition →	0.00	0.00	(24.93)	(48.04)	(1,291.87)	624.80	111.77	102.52	95.13	110.35
EV/FCF Full definition →	0.00	0.00	(11.88)	(19.43)	(240.29)	(937.39)	(347.37)	218.33	216.82	255.43
Quick Ratio Full definition →	—	3.12	3.03	8.00	7.77	6.65	4.55	3.39	2.74	1.91
Current Ratio Full definition →	—	3.39	3.21	8.22	7.99	6.78	4.75	3.50	2.86	1.98
Net Debt/EBITDA Full definition →	0.00	(9.82)	2.55	9.26	35.35	(47.20)	4.57	(24.21)	(10.46)	(23.42)
Debt/Assets Full definition →	0.00%	6.48%	3.50%	1.26%	27.76%	48.35%	55.50%	46.50%	39.00%	32.70%
Debt/Equity Full definition →	0.00	0.09	0.05	0.01	0.47	1.41	2.30	1.68	1.23	1.35
Asset Turnover Full definition →	1.04	1.65	0.83	0.51	0.39	0.35	0.39	0.49	0.55	0.46
Operating CF/Net income Full definition →	0.77	(0.29)	0.50	0.37	0.14	(0.25)	(0.64)	(1.38)	(4.83)	(5.90)
Capex/Depreciation Full definition →	(1.86)	(1.42)	(1.34)	(1.42)	(0.85)	(0.76)	(1.07)	(0.67)	(1.02)	(1.15)
Interest Coverage Full definition →	(26.04)	(11.29)	(85.58)	(97.07)	(4.28)	(2.59)	(40.37)	(31.59)	(29.78)	(23.64)
ROE Full definition →	0.00%	12.35%	100.57%	(34.57%)	(15.47%)	(31.97%)	(26.95%)	(26.52%)	(8.71%)	(8.16%)
ROA Full definition →	(21.27%)	(13.18%)	(37.77%)	(18.74%)	(10.80%)	(13.87%)	(7.80%)	(6.88%)	(2.60%)	(2.19%)
ROIC Full definition →	0.00%	(10.33%)	(78.26%)	(67.88%)	(40.31%)	(59.81%)	(31.46%)	(31.32%)	(20.44%)	0.00%
Return on Tangible Assets Full definition →	0.00%	(9.24%)	(41.79%)	(14.96%)	(10.73%)	(14.06%)	(10.88%)	(10.58%)	(4.06%)	(3.51%)
Average Days of Receivables Full definition →	0.00	31.05	47.65	43.07	53.77	53.13	55.60	69.88	69.25	64.40
Research and Development Expense of Revenue Full definition →	27.91%	24.94%	28.27%	31.59%	29.50%	28.85%	30.59%	27.62%	25.24%	23.64%
Selling, General and Administrative Expense of Revenue Full definition →	63.92%	60.93%	93.20%	83.92%	71.83%	68.18%	66.19%	63.01%	61.35%	60.43%
Intangible Assets out of Total Assets Full definition →	0.00	0.03	0.01	0.01	0.01	0.01	0.07	0.06	0.06	0.04
Share Based Compensation of Revenue Full definition →	6.72%	2.04%	14.19%	12.76%	13.07%	13.73%	20.79%	21.13%	20.27%	20.82%
Graham Net Nets Full definition →	0.00	0.00	0.13	0.23	0.02	0.01	(0.01)	0.00	0.00	0.00
Graham Number Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Yield Full definition →	(2.17%)	(2.17%)	(2.17%)	(5.17%)	(0.53%)	(0.63%)	(1.39%)	(0.69%)	(0.20%)	(0.15%)
Free Cash Flow Yield Full definition →	(7.60%)	(7.60%)	(7.60%)	(3.85%)	(0.40%)	(0.10%)	(0.28%)	0.45%	0.45%	0.38%
Revenue per Share Full definition →	1.12	1.75	2.38	1.96	1.44	2.10	2.99	3.89	4.89	6.22
Operating CF per Share Full definition →	(0.18)	0.04	(0.53)	(0.27)	(0.06)	0.21	0.38	0.76	1.11	1.73
Capex per Share Full definition →	(0.25)	(0.30)	(0.43)	(0.39)	(0.25)	(0.34)	(0.50)	(0.40)	(0.63)	(0.98)
Free Cash Flow per Share Full definition →	(0.42)	(0.26)	(0.96)	(0.66)	(0.31)	(0.14)	(0.12)	0.36	0.49	0.75
Cash per Share Full definition →	0.00	0.95	1.98	4.35	3.45	5.84	5.09	5.02	5.45	11.80
Shareholders Equity per Share Full definition →	0.00	1.58	2.69	4.96	2.73	2.60	1.91	2.29	3.06	4.19
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	0.00	1.58	2.69	4.96	2.73	2.60	1.91	2.29	3.06	4.19
Free Cash Flow Full definition →	(31.88)	(19.81)	(78.12)	(96.20)	(92.09)	(43.09)	(39.77)	119.46	166.92	260.56
Working Capital Full definition →	—	64.86	135.36	605.99	988.58	1,667.29	1,490.01	1,415.99	1,475.34	2,294.27
Capital Expenditures Full definition →	(18.56)	(22.97)	(34.84)	(57.28)	(74.96)	(107.74)	(163.36)	(134.94)	(213.51)	(342.55)
Net Current Asset Value Full definition →	0.00	50.59	116.37	584.88	566.24	395.14	(76.06)	(13.64)	14.04	67.70
EV/EBIT Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.22	0.17	0.18	0.20	0.17	0.16	0.17	0.10	0.13	0.16
Price to Operating Income Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other line items
Depreciation/Fixed assets Full definition →	0.00	0.31	0.35	0.40	0.71	0.77	0.53	0.62	0.45	0.48
Cash ROIC Full definition →	0.00%	(9.63%)	(20.08%)	(7.00%)	(4.12%)	(1.14%)	(1.07%)	3.21%	3.98%	3.45%
Accounts Receivable Turnover Full definition →	0.00	6.42	10.52	9.73	8.85	8.25	7.99	6.54	5.91	6.20
Accounts Payable Turnover Full definition →	7.67	9.64	4.58	4.93	7.79	7.25	7.54	6.87	4.75	5.82
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	18.99	59.91	119.76	65.97	52.32	64.71	55.87	63.88	101.98	55.57
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	—	21.00	18.32	29.51	48.68	79.52	122.04	198.41	282.51	349.62
Average Payables Full definition →	3.12	2.99	9.51	12.87	12.97	20.29	30.85	44.67	79.77	94.96
Average Assets Full definition →	81.50	81.57	230.76	564.60	1,105.74	1,876.36	2,479.99	2,673.84	3,030.46	4,668.71
Average Common Equity Full definition →	—	(87.00)	(86.67)	306.16	771.38	814.15	717.66	693.51	904.62	1,252.66

Fold the line items

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