Fundamental analysis · SEC EDGAR · TTM through 31/03/2026
NET · NYSE · Technology
Fundamental quality
62
out of 100
Cloudflare, Inc. is in full growth mode but not yet profitable: revenue is growing strongly (37.9% a year), but it doesn't translate into earnings yet. On fundamental quality it scores 62 out of 100, profiling it as a company of reasonable quality. Its weakest area is its profitability (net margin -3.7%). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Cloudflare runs a global network that sits between users and the internet: it speeds up websites, stops cyberattacks and increasingly runs code at the network edge. A huge fraction of the world's web traffic passes through its servers.
Revenue growth: 37.9%
Net margin: -3.7% · ROE: -5.7%
Net debt/EBITDA: 87.92x · FCF: 13.8%
Source: SEC EDGAR · TTM through 31/03/2026
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its profitability drags it down the most.
Percentile against the other 101 Technology companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 431 | -119 | -74 | -109 |
| 2021 | 656 | -260 | -28 | -314 |
| 2022 | 975 | -193 | -20 | -204 |
| 2023 | 1,297 | -184 | 140 | -87 |
| 2024 | 1,670 | -79 | 195 | -148 |
| 2025 | 2,168 | -102 | 287 | -944 |
Between 2020 and 2025, revenue went from $431M to $2,168M (+403%) and net income went from -$119M to -$102M (+14%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the quarter ended March 31, 2026, versus the quarter ended March 31, 2025 (SEC filings):
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
This company doesn't pay a dividend: it reinvests all its earnings back into the business.
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Is Cloudflare, Inc. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Cloudflare, Inc. a good company to invest in?
In terms of business quality, Cloudflare, Inc. scores 62 out of 100 in our analysis, placing it as a company of reasonable quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Cloudflare, Inc. a profitable company?
Over the last twelve months, no: Cloudflare, Inc. posts a negative net margin (-3.7%).
Does Cloudflare, Inc. have a lot of debt?
Yes, its leverage is high: net debt is 87.92 times its EBITDA.
Is Cloudflare, Inc. growing?
Its revenue has grown 37.9% annualized in recent years, and without interruption since 2020.
Does Cloudflare, Inc. generate cash?
Yes. It converts about 13.8% of its revenue into free cash flow.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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Who's behind the methodology and model · how the score is computed
Data: see Cloudflare, Inc.'s filings on EDGAR
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