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) Operating margin
Cloudflare, Inc.'s operating margin over the twelve months to 30 September 2026 was −14.1%, down 4.5 percentage points from fiscal 2025 (−9.56%). Over the past ten years it has ranged from −44.1% (fiscal 2018) to −7.21% (fiscal 2017); the current reading is higher than 80% of that period. That is below the Software Infrastructure industry median of 0.00% and below the Technology sector median of 0.02%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | −9.56% | (0.29) |
| FY2024 | −9.27% | 5.03 |
| FY2023 | −14.3% | 6.33 |
| FY2022 | −20.6% | (1.18) |
| FY2021 | −19.5% | 5.32 |
| FY2020 | −24.8% | 12.84 |
| FY2019 | −37.6% | 6.45 |
| FY2018 | −44.1% | (36.85) |
| FY2017 | −7.21% | 12.87 |
| FY2016 | −20.1% | — |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | −8.68% | 20.87 |
| Jun 2026 | −29.6% | (19.86) |
| Mar 2026 | −9.69% | (1.68) |
| Dec 2025 | −8.01% | (1.34) |
| 28 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| FTNT Fortinet, Inc. compare | 33.0% |
| NTAP NetApp, Inc. compare | 25.0% |
| SNPS Synopsys, Inc. compare | 8.52% |
| OKTA Okta, Inc. compare | 7.55% |
| XYZ Block, Inc. compare | 4.64% |
| CRWD CrowdStrike compare | −2.46% |
| ZS Zscaler, Inc. compare | −3.98% |
| NET Cloudflare, Inc. | −14.1% |
| NBIS Nebius Group N.V. compare | −50.5% |
| Software Infrastructure industry median | 0.00% |
| Technology sector median | 0.02% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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