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NET · NYSE · United States · Services-Prepackaged Software
In shortCloudflare, Inc. is loss-making, generates cash and holds more cash than debt, with revenue growing (+29.8% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -9.6% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -4.7% | 1/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -8.2% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -4.8% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.98× | 98/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.35× | 36/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -23.64× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.95 | 22/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 13.3% | 73/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 11.1% | 70/100 |
| Operating margin volatility | 5.3% | 61/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 30.5% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 656 | 975 | 1,297 | 1,670 | 2,168 |
| Cost of revenue | 147 | 233 | 307 | 379 | 553 |
| Gross profit | 509 | 743 | 990 | 1,291 | 1,615 |
| Research & development | 189 | 298 | 358 | 421 | 512 |
| Operating income | (128) | (201) | (185) | (155) | (207) |
| Interest expense | 49 | 5 | 5.9 | 5.2 | 8.8 |
| Pre-tax income | (248) | (191) | (178) | (71) | (93) |
| Income tax | 12 | 2.6 | 6.1 | 7.9 | 9.6 |
| Net income | (260) | (193) | (184) | (79) | (102) |
| Diluted EPS | −$0.83 | −$0.59 | −$0.55 | −$0.23 | −$0.29 |
| Diluted shares (millions) | 312 | 326 | 334 | 341 | 348 |
4 older years available with the 10-year history. Essential plan, from €8.25/month →
1.95 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026