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) EV/EBITDA
Cloudflare, Inc. has no meaningful EV/EBITDA: its trailing twelve-month EBITDA is negative. Over the past ten years it has ranged from 0.0× (November 2026) to 12,529× (June 2021) — the current reading is the lowest in ten years.
EV/EBITDA, daily
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Annual newest first
| Period | EV/EBITDA | Change |
|---|---|---|
| FY2025 | 730× | 10.35% |
| FY2024 | 661× | (58.87%) |
| FY2023 | 1,607× | — |
| FY2022 | 0.0× | — |
| FY2021 | 2,812× | — |
| FY2020 | 0.0× | — |
| FY2019 | 0.0× | — |
| FY2018 | 0.0× | — |
| FY2017 | 0.0× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | EV/EBITDA | Change |
|---|---|---|
| Sep 2026 | 0.0× | — |
| Jun 2026 | 0.0× | — |
| Mar 2026 | 657× | (9.92%) |
| Dec 2025 | 730× | (18.78%) |
| 28 more quarters | Free account |
Against its own ten years
EV/EBITDA against peers
| Company | EV/EBITDA |
|---|---|
| NET Cloudflare, Inc. | n/m |
| NTAP NetApp, Inc. compare | 15.9× |
| FTNT Fortinet, Inc. compare | 27.6× |
| SNPS Synopsys, Inc. compare | 33.4× |
| OKTA Okta, Inc. compare | 57.4× |
| ZS Zscaler, Inc. compare | 119× |
| XYZ Block, Inc. compare | 136× |
| NBIS Nebius Group N.V. compare | 243× |
| CRWD CrowdStrike compare | 337× |
| Software Infrastructure industry median | 14.5× |
| Technology sector median | 14.5× |
| Market median | 10.9× |
What EV/EBITDA is
Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)
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- EV/Sales
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- Return on equity
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