stockrowCloudflare, Inc.
NET Technology Software Infrastructure
Cloudflare, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 29.8% from fiscal 2024.
- Revenue
- +39.2%
- EPS
- −2,602.7%
- Free cash flow
- +9.48%
- Total debt
- +125.2%
Quarter to September 2026, against a year earlier
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Cloudflare, Inc. (NET) Debt to equity
Cloudflare, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 3.0×, up 1.7× from fiscal 2025 (1.4×). Over the past ten years it has ranged from 0.0× (fiscal 2016) to 2.3× (fiscal 2022); the current reading is higher than 70% of that period. That is above the Software Infrastructure industry median of 0.0× and above the Technology sector median of 0.1×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 1.4× | 9.95% |
| FY2024 | 1.2× | (26.84%) |
| FY2023 | 1.7× | (26.93%) |
| FY2022 | 2.3× | 62.84% |
| FY2021 | 1.4× | 201.26% |
| FY2020 | 0.5× | 3,135.86% |
| FY2019 | 0.0× | (69.73%) |
| FY2018 | 0.0× | (44.82%) |
| FY2017 | 0.1× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Sep 2026 | 3.0× | 148.48% |
| Jun 2026 | 1.2× | (5.69%) |
| Mar 2026 | 1.3× | (4.35%) |
| Dec 2025 | 1.4× | (7.62%) |
| 31 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| OKTA Okta, Inc. compare | 0.0× |
| CRWD CrowdStrike compare | 0.1× |
| FTNT Fortinet, Inc. compare | 0.2× |
| XYZ Block, Inc. compare | 0.3× |
| SNPS Synopsys, Inc. compare | 0.3× |
| ZS Zscaler, Inc. compare | 0.7× |
| NBIS Nebius Group N.V. compare | 0.8× |
| NTAP NetApp, Inc. compare | 1.7× |
| NET Cloudflare, Inc. | 3.0× |
| Software Infrastructure industry median | 0.0× |
| Technology sector median | 0.1× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
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