Cloudflare, Inc.
NET · Price history
Price at last available close
$328.09
−$25.90 (-7.32%) 1M
2026-10-27
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Company & revenue
About Cloudflare, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 5, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
Cloudflare operates as a global connectivity cloud provider that delivers a broad range of services to businesses of all sizes. The company generates revenue primarily through subscription-based fees for its security, performance, and developer-focused cloud services, which help customers secure their business-critical applications and eliminate the complexity of managing individual network hardware.
Products & services
Cloudflare provides security-as-a-service, network services (Magic WAN, Magic Transit, Magic Firewall), and developer-based solutions including Cloudflare Workers, R2 object storage, AI Gateway, and various consumer offerings like 1.1.1.1 DNS.
Brands & revenue mix
The primary brand under which all connectivity cloud services are delivered.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Period ended 2025-12-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Customer concentration
As of the fiscal year ended December 31, 2025, the company does not disclose any single customer accounting for a significant portion of total revenue.
Suppliers, materials & equipment
- Public cloud and data center infrastructure providers — The company relies on various third-party data center providers and network infrastructure suppliers to host its global network; specific supplier names are unnamed.Source
Business relationships & partnerships
- Mastercard — A commercial partnership announced in February 2026 to extend comprehensive cyber defense across critical infrastructure and small businesses.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
28
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
45
Weak
Financial Strength
16
Business Quality / Moat
99
Management
13
Growth Quality
74
Risk / Durability
16
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
35
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
46/100
Building Historical Record
Model Score 46/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Debt service risk
- •M&A headline · Oct 10, 2026
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for NET
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can NET maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is NET's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is NET's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What specifically needs to improve for NET to reach sustainable profitability?
- •What future growth or profitability would be needed to justify NET's current valuation?
Essential Investment Snapshot
Wall Street Score
28
Opportunity Score
35
Market Cap
$116.83B
P/E Ratio
-598.5
EPS
$-0.58
52-Week High
$370.35
52-Week Low
$158.83
Beta
1.65
Analyst Target
$350.00
Shares Outstanding
348.4M
Total Revenue
$2.51B
Total Debt
$3.53B
Dividend
No current dividend
Liquidation Value / Share
$4.65
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for NET
Detected from reported data — verify before acting.Debt service risk
Interest coverage is low (~-23.6x). Earnings may be strained to cover interest expense.
M&A headline · Oct 10, 2026
Cloudflare acquires Deno to improve its Workers programming model — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
TechCrunchCommunity Sentiment
0 active · 0 total callsNo personal call yet on NET.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Global network scale and performance.
- +Broad portfolio of integrated security and developer services.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Software - Infrastructure industry.
- −Intense competition in the cloud services market.
- −Dependence on third-party data center and network infrastructure.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
28
Oct 1, 2026
Change
Unchanged
Current Score
28
Oct 8, 2026
Category Changes
NET score was unchanged.
Projected Score
Projected Score
31
Projected Change
+2.8 points
Preliminary comparable-period financial changes suggest improvement of approximately 2.8 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$328.09
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.51B | $2.17B | $1.67B | $1.30B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $689.0M | $552.5M | $378.7M | $307.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $1.82B | $1.62B | $1.29B | $989.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $573.3M | $512.5M | $421.4M | $358.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $1.45B | $1.31B | $1.02B | $817.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $2.18B | $1.82B | $1.45B | $1.18B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $38.7M | $105.8M | $62.0M | -$36.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | -$354.4M | -$207.2M | -$154.8M | -$185.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $11.5M | $8.8M | $5.2M | $5.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$198.0M | -$92.7M | -$70.9M | -$177.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $8.3M | $9.6M | $7.9M | $6.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$206.3M | -$102.3M | -$78.8M | -$183.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-0.58 | $-0.29 | $-0.23 | $-0.55 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 354M | 348M | 341M | 334M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 354M | 348M | 341M | 334M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$696.1M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.48
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+1.9%
Cash Change
+9.6%
Margin Change
-14.6 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Margins contracted
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels. Pressure indicators included debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 35.9%. EPS increased 230.6%. Cash increased 9.6%. Total debt increased 1.9%. Net income margin declined by 14.6 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
25
Smart Money
25
Number of Gurus
2
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · NET
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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