CrowdStrike (CRWD) vs Cloudflare, Inc. (NET)

CrowdStrike and Cloudflare, Inc. are both Software Infrastructure companies. CrowdStrike is the larger, with a market value of $265.1B against $128.1B — 2.1× the size. Cloudflare, Inc. has negative trailing earnings, so its P/E is not meaningful; CrowdStrike trades at 7,163×. Cloudflare, Inc. grew revenue faster over the last twelve months: 33.5% against 24.3%. CrowdStrike has the higher net margin (0.83% vs −8.21%) and the lower return on invested capital (−9.53% vs 0.00%). Across the 19 metrics below, CrowdStrike leads on 14 and Cloudflare, Inc. on 5.

Valuation

Metric CRWD NET Software Infrastructure median
P/E 7,162.78 n/m 28.02
P/S 47.63 49.22 3.07
P/B 50.01 76.34 3.36
Price to free cash flow 170.05 392.76 17.12
EV/EBITDA 391.15 n/m 14.91
EV/Sales 46.84 48.35 3.03
Earnings yield 0.01% (0.17%) 0.13%
Free cash flow yield 0.59% 0.25% 1.15%

Profitability

Metric CRWD NET Software Infrastructure median
Gross margin 75.19% 72.58% 61.23%
Operating margin (2.46%) (14.11%) 0.00%
Net margin 0.83% (8.21%) 0.00%
Free cash flow margin 28.01% 12.53% 1.67%
Return on equity 1.01% (14.43%) 0.59%
Return on assets 0.42% (3.43%) 0.00%
Return on invested capital (9.53%) 0.00% 0.00%

Growth

Metric CRWD NET Software Infrastructure median
Revenue growth (TTM) 24.30% 33.53% 13.41%
EPS growth (last fiscal year) (1,169.53%) (26.09%) —
Revenue growth, 5-year CAGR 40.64% 38.13% 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CRWD NET Software Infrastructure median
Debt to equity 0.15 1.22 0.06
Current ratio 1.57 1.82 1.55
Net debt to EBITDA (10.25) (23.42) 0.08

Dividend

Metric CRWD NET Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric CRWD NET Software Infrastructure median
Market cap 265.06b 128.05b 835.96m

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