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%

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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 Segments Valuation Filings

Cloudflare, Inc. (NET) P/S ratio

Alert me on P/S ratio

As of 5 November 2026, Cloudflare, Inc. (NET) trades at a P/S ratio of 32.0×. Over the past ten years it has ranged from 0.0× (September 2019) to 116× (November 2021); the current reading is higher than 58% of that period. That is above the Software Infrastructure industry median of 2.8× and above the Technology sector median of 2.6×.

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<iframe src="https://stockrow.com/embed/NET/ps-ratio" width="100%" height="360" style="border:0" loading="lazy" title="Cloudflare, Inc. P/S ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/NET/metrics/ps-ratio">Cloudflare, Inc. (NET) P/S ratio — stockrow.com</a></p>

Period	P/S ratio	Change
FY2025	31.7×	43.90%
FY2024	22.0×	7.85%
FY2023	20.4×	41.83%
FY2022	14.4×	(76.99%)
FY2021	62.6×	18.39%
FY2020	52.8×	507.70%
FY2019	8.7×	—
FY2018	0.0×	—
FY2017	0.0×	—
FY2016	0.0×	—

Period	P/S ratio	Change
Sep 2026	45.4×	31.19%
Jun 2026	34.6×	10.71%
Mar 2026	31.2×	(1.38%)
Dec 2025	31.7×	(14.89%)
28 more quarters	Free account

Against its own ten years

Low 0.0× High 116×

Ten-year median 27.1×

Current reading's percentile 58

Company	P/S ratio
XYZ Block, Inc. compare	2.0×
NTAP NetApp, Inc. compare	4.5×
SNPS Synopsys, Inc. compare	9.0×
OKTA Okta, Inc. compare	9.7×
ZS Zscaler, Inc. compare	9.8×
FTNT Fortinet, Inc. compare	11.4×
NBIS Nebius Group N.V. compare	25.0×
NET Cloudflare, Inc.	32.0×
CRWD CrowdStrike compare	41.1×
Software Infrastructure industry median	2.8×
Technology sector median	2.6×
Market median	1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

Cloudflare, Inc. (NET) P/S ratio

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

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P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on NET

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