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CloudflareNET

Internet Services & Infrastructure
Solid businessPricier than peers
$280.70−9.54%After hours: $281.12 (+0.15%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 23.4% over 1 year
Cloudflare over 1 yearDaily close, $, to 30 Oct 2026
$200$300Nov2026MarMayJulSep$280.70$200$300NovMarJul$280.70
Source: Nasdaq daily closes
Market value$99.95B
Price to earnings–
Forward P/E190.2x
Dividend yield–
Year to date+42.4%
One year+23.4%
Next earningsThu 5 Nov, after the close
SectorInformation Technology
52-week range (closes)
$160.19$360.93

Quality and valuation

How Cloudflare compares with other information technology stocks. A description, not a recommendation.

Cloudflare and 5 internet services & infrastructure peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among information technology companies, priced above most of them.

Cloudflare trades at 190.2 times the next 12 months of expected earnings, against a median of 22.2x for the 99 information technology stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +33.5% vs +20.6%
  • Keeps more of each sale (gross margin): 72.6% vs 61.5%
  • Less profitable (operating margin): −14.1% vs 17.0%
  • Turns less of its sales into cash: 13.9% vs 21.7%
NET trades at 190.2x forward earnings, above the sector medianForward p/e, Internet Services & Infrastructure peers
AKAM14.1xGDDY14.6xVRSN30.0xSHOP74.9xNET190.2xSector median 22.2xAKAM14.1xGDDY14.6xVRSN30.0xSHOP74.9xNET190.2xSector median 22.2x
Source: CNBC quotes; Mostly Markets

Financials

From Cloudflare's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 35.9% from a year earlierQuarterly revenue, $m, latest Q2 ’26
$0m$200m$400m$600mQ3 ’24Q1 ’25Q3 ’25$696mQ2 ’26$0m$250m$500mQ3 ’24Q1 ’25Q3 ’25$696mQ2 ’26
Source: SEC filings
Growth sped up to +35.9% last quarterRevenue growth, year on year, %
0%10%20%30%Q3 ’24Q1 ’25Q3 ’2535.9%Q2 ’260%20%Q3 ’24Q1 ’25Q3 ’2535.9%Q2 ’26
Source: SEC filings
Operating margin was -29.6% last quarterOperating income as a share of revenue, %
−20%−10%0%Q3 ’24Q1 ’25Q3 ’25−29.6%Q2 ’26−20%−10%0%Q3 ’24Q1 ’25Q3 ’25−29.6%Q2 ’26
Source: SEC filings
Free cash flow was $348 million over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
$0m$50m$100mQ3 ’24Q1 ’25Q3 ’25$68mQ2 ’26$0m$50m$100mQ3 ’24Q1 ’25Q3 ’25$68mQ2 ’26
Source: SEC filings
Last 12 monthsNETSector median
Revenue growth+33.5%+20.6%
Gross margin72.6%61.5%
Operating margin−14.1%17.0%
Free cash flow margin13.9%21.7%

Stories on Cloudflare

Friday, 30 October
Why it moved

Nebius, CoreWeave and Cloudflare Shares Slide: What Happened

Nebius fell 12.6%, CoreWeave 11.2% and Cloudflare 10.8% on Friday as worries about AI spending, sharpened by Amazon's and Intel's results, hit cloud and internet stocks.

NBIS▼ 12.6%
A server rack hanging from a deflating hot-air balloon, sinking through the clouds
Friday, 23 October
Why it moved

Why CrowdStrike (CRWD) Stock Is Soaring Today

CrowdStrike soared 8.3% on Friday after an Evercore ISI survey found security budgets firming into year-end, two days after critical PHP flaws put web servers at risk.

CRWD▲ 8.2%
A software office at night

Similar companies

Internet Services & Infrastructure, by market value.

CompanyPriceTodayYTDValue
SHOPShopify$157.49−5.63%−2.2%$203B
NBISNebius Group$154.14−10.38%+84.1%$41.90B
CRWVCoreWeave$54.87−9.66%−23.4%$30.26B
VRSNVerisign$307.21+0.41%+26.4%$27.56B
GDDYGoDaddy$117.24+10.72%−5.5%$14.85B
AKAMAkamai Technologies$92.72−6.70%+6.3%$13.32B