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Friday 6 November 2026 Export NET’s income statement to Excel — free account

Cloudflare, 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

244.63 21.95 −8.23%
Market cap
$87.1B
P/E
0.0×
Fwd P/E
−484×
Dividend yield
—
F-score
4/9
Altman Z
9.43
Beneish M
−2.95
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Cloudflare, Inc. (NET) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, Cloudflare, Inc. (NET) trades at a EV/FCF of 272×. Over the past ten years it has ranged from −937× (December 2021) to 598× (June 2023); the current reading is higher than 76% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 255× 17.81%
FY2024 217× (0.69%)
FY2023 218× —
FY2022 −347× —
FY2021 −937× —
FY2020 −240× —
FY2019 −19.4× —
FY2018 −11.9× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period EV/FCF Change
Sep 2026 386× 43.48%
Jun 2026 269× 11.25%
Mar 2026 242× (5.32%)
Dec 2025 255× (26.80%)
28 more quarters

Against its own ten years

Low −937× High 598×
Ten-year median 0.0×
Current reading's percentile 51

EV/FCF against peers

Company EV/FCF
NBIS Nebius Group N.V. compare −5.9×
XYZ Block, Inc. compare 14.6×
NTAP NetApp, Inc. compare 19.6×
FTNT Fortinet, Inc. compare 25.1×
OKTA Okta, Inc. compare 29.6×
SNPS Synopsys, Inc. compare 33.1×
ZS Zscaler, Inc. compare 41.4×
CRWD CrowdStrike compare 144×
NET Cloudflare, Inc. 272×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((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)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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