Technology · Software - Infrastructure
Price
$237.07
Market Cap
$84.1B
Employees
4,400
Beta
1.67
Avg Volume
4,430,998
CEO
Matthew Prince
Business Description
Cloudflare, Inc. functions as a global provider of cloud-based services. The company delivers a comprehensive, integrated cloud security platform designed to safeguard a diverse array of digital environments, encompassing public and private clouds, on-premises infrastructure, Software-as-a-Service (SaaS) applications, and Internet of Things (IoT) devices. Its security portfolio features tools such as cloud firewalls, bot mitigation, distributed denial-of-service (DDoS) protection, IoT security, SSL/TLS encryption, secure origin connections, and rate limiting capabilities. Beyond security, Cloudflare also boosts online performance through services like content delivery networks (CDNs), intelligent routing, and various content, mobile, and image optimization tools. For enhanced reliability and availability, it provides solutions such as load balancing, its proprietary Anycast network, a virtual backbone, DNS services, DNS resolvers, and virtual waiting rooms. Furthermore, the company offers internal infrastructure tools, including "on-ramps" that facilitate seamless connections for users, devices, or locations to its expansive network, alongside "filters" engineered for data protection, inspection, and access management. Developer-centric solutions encompass serverless computing, programmable networks, website creation, domain registration, a suite of Cloudflare applications, advanced analytics, and data localization management. For individual consumers, Cloudflare provides a DNS Resolver application to improve internet browsing and a Consumer VPN to secure and speed up mobile device traffic. Its clientele spans a broad spectrum of industries, including technology, healthcare, financial services, consumer and retail, non-profit organizations, and government agencies. Established in 2009, Cloudflare, Inc. is headquartered in San Francisco, California.
Business History
Price Overview
Last updated: Jun 27, 2026 9:04am (just now)$237.07
+10.42 (+4.60%)
Day Range
$220.95 – $237.07
52-Week Range
$158.83 – $276.82
50-Day MA
$221.17
200-Day MA
$207.70
Volume
0.00
Analyst Price Targets
Low
$136.00
Consensus
$229.12
High
$305.00
(95 analysts)
Share Structure
Outstanding
354,939,540.00
Float
317,391,482.00
Free Float
89.4%
High free float
— 89.4% of shares trade freely, ~10.6% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-817.48
Stock Price: $237.07
EPS (Diluted): -0.29
EPS (Diluted): -0.29
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
47.08
Stock Price: $237.07
Total Equity: $1.46B
Shares: 348,421,000
Total Equity: $1.46B
Shares: 348,421,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
628.97
Market Cap: $84.15B
Total Debt: $3.52B
Cash: $943.54M
EBITDA: $105.80M
Total Debt: $3.52B
Cash: $943.54M
EBITDA: $105.80M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$71.4B
Market Cap: $84.15B
Total Debt: $3.52B
Cash: $943.54M
Total Debt: $3.52B
Cash: $943.54M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
31.69
Stock Price: $237.07
Revenue: $2.17B
Shares: 348,421,000
Revenue: $2.17B
Shares: 348,421,000
EV/Sales (Total value vs revenue — works when P/E can't)
API32.96
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
74.5%
Gross Profit: $1.62B
Revenue: $2.17B
Revenue: $2.17B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-9.6%
Operating Income: -$207.21M
Revenue: $2.17B
Revenue: $2.17B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-4.7%
Net Income: -$102.27M
Revenue: $2.17B
Revenue: $2.17B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-6.2%
Net Income: -$102.27M
Total Equity: $1.46B
Total Equity: $1.46B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-4.2%
Operating Income: -$207.21M
Tax Rate: -10.3%
Equity: $1.46B
Total Debt: $3.52B
Cash: $943.54M
Tax Rate: -10.3%
Equity: $1.46B
Total Debt: $3.52B
Cash: $943.54M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.98
Current Assets: $4.64B
Current Liabilities: $2.35B
Current Liabilities: $2.35B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
2.41
Short-Term Debt: $1.36B
Long-Term Debt: $2.16B
Total Debt: $3.52B
Total Equity: $1.46B
Long-Term Debt: $2.16B
Total Debt: $3.52B
Total Equity: $1.46B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$6.22
Revenue: $2.17B
Shares: 348,421,000
Shares: 348,421,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$4.19
Total Equity: $1.46B
Shares: 348,421,000
Shares: 348,421,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.93
Operating CF: $666.87M
CapEx: -$342.55M
Shares: 348,421,000
CapEx: -$342.55M
Shares: 348,421,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $237.07
Stock Price: $237.07
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$102.27M
Net Income: -$102.27M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares NET against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 26, 2026 3:08am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $656.4M | $975.2M | $1.3B | $1.7B | $2.2B |
| Cost of Revenue | $147.1M | $232.6M | $307.0M | $378.7M | $552.5M |
| Gross Profit | $509.3M | $742.6M | $989.7M | $1.3B | $1.6B |
| Operating Expenses | $637.0M | $943.8M | $1.2B | $1.4B | $1.8B |
| Operating Income | -$127.7M | -$201.2M | -$185.5M | -$154.8M | -$207.2M |
| Net Income | -$260.3M | -$193.4M | -$183.9M | -$78.8M | -$102.3M |
| EBITDA | -$132.1M | -$83.4M | -$36.2M | $62.0M | $105.8M |
| EPS | $-0.83 | $-0.59 | $-0.55 | $-0.23 | $-0.29 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 26, 2026 3:09am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $313.8M | $204.2M | $86.9M | $147.7M | $943.5M |
| Total Current Assets | $2.0B | $1.9B | $2.0B | $2.3B | $4.6B |
| Total Assets | $2.4B | $2.6B | $2.8B | $3.3B | $6.0B |
| Current Liabilities | $288.6M | $397.9M | $567.1M | $793.7M | $2.4B |
| Long-Term Debt | $1.1B | $1.4B | $1.3B | $1.3B | $2.2B |
| Total Liabilities | $1.6B | $2.0B | $2.0B | $2.3B | $4.6B |
| Total Equity | $815.8M | $624.0M | $763.0M | $1.0B | $1.5B |
| Retained Earnings | -$680.8M | -$839.9M | -$1.0B | -$1.1B | -$1.2B |
Cash Flow (Annual)
Last updated: Jun 26, 2026 3:09am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $64.6M | $123.6M | $254.4M | $380.4M | $666.9M |
| Capital Expenditure | -$107.7M | -$163.4M | -$134.9M | -$185.0M | -$342.6M |
| Free Cash Flow | -$43.1M | -$39.8M | $119.5M | $195.4M | $324.3M |
| Acquisitions (net) | -$5.6M | -$88.2M | -$6.1M | -$38.0M | -$50.9M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $-189,000 | $-3,000 | $-34,000 | $0 | $0 |
| Net Change in Cash | $202.8M | -$105.8M | -$124.0M | $63.0M | $800.1M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 9:04am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$3.6B $3.5B – $3.8B
|
$4.6B $4.6B – $4.6B
|
$5.5B $5.4B – $5.7B
|
$6.7B $6.6B – $7.0B
|
| EBITDA |
$1.0B $1.0B – $1.1B
|
$1.3B $1.3B – $1.3B
|
$1.6B $1.6B – $1.7B
|
$2.0B $1.9B – $2.0B
|
| Net Income |
$566.8M $477.1M – $656.4M
|
$191.8M -$2.3B – $3.0B
|
$1.2B $1.2B – $1.3B
|
$0 |
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 26, 2026 3:08am (1d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +48.6% | +33.0% | +28.8% | +29.8% |
| Gross Profit Growth | +45.8% | +33.3% | +30.4% | +25.1% |
| Operating Income Growth | -57.6% | +7.8% | +16.6% | -33.9% |
| Net Income Growth | +25.7% | +4.9% | +57.2% | -29.8% |
| EBITDA Growth | +36.9% | +56.6% | +271.5% | +70.5% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-24 | Prince Matthew | C-Conversion | 52,384.00 | $0.00 | $0 |
| 2026-06-24 | Prince Matthew | C-Conversion | 52,384.00 | $0.00 | $0 |
| 2026-06-24 | Prince Matthew | S-Sale | 2,883.00 | $221.46 | $638,467 |
| 2026-06-24 | Prince Matthew | S-Sale | 9,740.00 | $222.56 | $2.2M |
| 2026-06-24 | Prince Matthew | S-Sale | 11,001.00 | $223.46 | $2.5M |
| 2026-06-24 | Prince Matthew | S-Sale | 8,153.00 | $224.40 | $1.8M |
| 2026-06-24 | Prince Matthew | S-Sale | 11,304.00 | $225.48 | $2.5M |
| 2026-06-24 | Prince Matthew | S-Sale | 7,731.00 | $226.30 | $1.7M |
| 2026-06-24 | Prince Matthew | S-Sale | 1,475.00 | $227.31 | $335,280 |
| 2026-06-24 | Prince Matthew | S-Sale | 97.00 | $228.14 | $22,130 |
| 2026-06-22 | Prince Matthew | C-Conversion | 26,834.00 | $0.00 | $0 |
| 2026-06-23 | Prince Matthew | C-Conversion | 52,384.00 | $0.00 | $0 |
| 2026-06-23 | Prince Matthew | C-Conversion | 52,384.00 | $0.00 | $0 |
| 2026-06-23 | Prince Matthew | S-Sale | 395.00 | $216.21 | $85,401 |
| 2026-06-23 | Prince Matthew | S-Sale | 483.00 | $217.20 | $104,910 |
| 2026-06-23 | Prince Matthew | S-Sale | 370.00 | $218.20 | $80,735 |
| 2026-06-23 | Prince Matthew | S-Sale | 825.00 | $219.31 | $180,933 |
| 2026-06-23 | Prince Matthew | S-Sale | 1,030.00 | $220.58 | $227,202 |
| 2026-06-22 | Prince Matthew | S-Sale | 3,990.00 | $212.97 | $849,757 |
| 2026-06-23 | Prince Matthew | S-Sale | 3,339.00 | $221.33 | $739,015 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for NET — it's generated by the pipeline (
market-narrative step).
No community reviews yet for NET.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30