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Cloudflare (NET) Financials

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Annual Income Statements for Cloudflare

Annual Income Statements for Cloudflare

This table shows Cloudflare's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017
Net Income / (Loss) Attributable to Common Shareholders		 -79 -184 -193 -260 -119 -106 -87 -11
Consolidated Net Income / (Loss)		 -79 -184 -193 -260 -119 -106 -87 -11
Net Income / (Loss) Continuing Operations		 -79 -184 -193 -260 -119 -106 -87 -11
Total Pre-Tax Income 		-71 -178 -191 -248 -125 -105 -86 -9.72
Total Operating Income		 -155 -185 -201 -128 -107 -108 -85 -9.73
Total Gross Profit		 1,291 990 743 509 330 224 149 106
Total Revenue		 1,670 1,297 975 656 431 287 193 135
Operating Revenue		 1,670 1,297 975 656 431 287 193 135
Total Cost of Revenue		 379 307 233 147 101 63 44 29
Operating Cost of Revenue		 379 307 233 147 101 63 44 29
Total Operating Expenses		 1,446 1,175 944 637 437 332 234 116
Selling, General & Admin Expense		 279 218 180 120 92 82 85 20
Marketing Expense		 746 599 466 328 218 159 94 62
Research & Development Expense		 421 358 298 189 127 91 54 34
Total Other Income / (Expense), net		 84 7.62 10 -120 -18 3.23 -1.19 0.02
Interest Expense		 5.20 56 4.98 121 25 1.11 0.99 0.86
Interest & Investment Income		 87 68 15 1.97 6.59 5.79 1.90 0.76
Other Income / (Expense), net		 1.66 -4.37 0.58 -0.79 0.17 -1.44 -2.09 0.12
Income Tax Expense		 7.93 6.09 2.65 12 -5.60 1.12 1.08 1.03
Basic Earnings per Share		 ($0.23) ($0.55) ($0.59) ($0.83) ($0.40) ($0.72) ($1.08) ($0.14)
Weighted Average Basic Shares Outstanding		 341.41M 333.66M 326.33M 312.32M 299.77M 146.31M 80.98M 77.15M
Diluted Earnings per Share		 ($0.23) ($0.55) ($0.59) ($0.83) ($0.40) ($0.72) ($1.08) ($0.14)
Weighted Average Diluted Shares Outstanding		 341.41M 333.66M 326.33M 312.32M 299.77M 146.31M 80.98M 77.15M
Weighted Average Basic & Diluted Shares Outstanding		 345.07M 337.66M 330.32M 324.08M 299.77M 146.31M 80.98M 77.15M

Quarterly Income Statements for Cloudflare

This table shows Cloudflare's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 -13 -15 -15 -36 -28 -24 -94 -38 -46 -43
Consolidated Net Income / (Loss)		 -13 -15 -15 -36 -28 -24 -94 -38 -46 -43
Net Income / (Loss) Continuing Operations		 -13 -15 -15 -36 -28 -24 -94 -38 -46 -43
Total Pre-Tax Income 		-11 -13 -14 -33 -26 -22 -93 -37 -45 -41
Total Operating Income		 -35 -31 -35 -55 -43 -39 -56 -47 -51 -46
Total Gross Profit		 351 334 312 294 279 258 233 220 207 192
Total Revenue		 460 430 401 379 362 336 308 290 275 254
Operating Revenue		 460 430 401 379 362 336 308 290 275 254
Total Cost of Revenue		 109 96 89 85 83 78 75 70 68 62
Operating Cost of Revenue		 109 96 89 85 83 78 75 70 68 62
Total Operating Expenses		 386 365 347 348 322 297 289 267 258 238
Selling, General & Admin Expense		 74 69 70 66 60 56 53 48 46 45
Marketing Expense		 192 185 175 194 165 150 147 137 132 116
Research & Development Expense		 120 111 103 88 96 91 90 82 80 76
Total Other Income / (Expense), net		 24 18 21 21 17 17 -37 11 5.85 4.77
Interest Expense		 1.45 1.43 1.22 1.10 1.07 1.14 52 2.13 0.88 1.51
Interest & Investment Income		 22 22 22 21 20 18 17 13 8.32 3.85
Other Income / (Expense), net		 3.33 -3.07 0.27 1.12 -2.10 0.12 -1.53 -0.86 -1.60 2.43
Income Tax Expense		 2.01 2.51 1.15 2.27 2.05 1.25 1.47 1.31 1.07 1.37
Basic Earnings per Share		 ($0.05) ($0.04) ($0.04) ($0.10) ($0.08) ($0.07) ($0.28) ($0.12) ($0.13) ($0.13)
Weighted Average Basic Shares Outstanding		 341.41M 342.36M 340.65M 338.58M 333.66M 334.67M 332.30M 330.39M 326.33M 326.59M
Diluted Earnings per Share		 ($0.05) ($0.04) ($0.04) ($0.10) ($0.08) ($0.07) ($0.28) ($0.12) ($0.13) ($0.13)
Weighted Average Diluted Shares Outstanding		 341.41M 342.36M 340.65M 338.58M 333.66M 334.67M 332.30M 330.39M 326.33M 326.59M
Weighted Average Basic & Diluted Shares Outstanding		 345.07M 343.19M 341.70M 339.79M 337.66M 335.77M 334.22M 331.91M 330.32M 328.62M

Annual Cash Flow Statements for Cloudflare

This table details how cash moves in and out of Cloudflare's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017
Net Change in Cash & Equivalents		 63 -124 -106 203 -27 114 4.55 13
Net Cash From Operating Activities		 380 254 124 65 -17 -39 -43 3.17
Net Cash From Continuing Operating Activities		 380 254 124 65 -17 -39 -43 3.17
Net Income / (Loss) Continuing Operations		 -79 -184 -193 -260 -119 -106 -87 -11
Consolidated Net Income / (Loss)		 -79 -184 -193 -260 -119 -106 -87 -11
Depreciation Expense		 128 136 102 67 49 29 19 12
Amortization Expense		 40 21 50 84 41 9.02 6.49 4.29
Non-Cash Adjustments To Reconcile Net Income		 392 380 242 159 78 40 32 -0.26
Changes in Operating Assets and Liabilities, net		 -101 -99 -77 15 -66 -12 -13 -2.29
Net Cash From Investing Activities		 -330 -186 -236 -709 -515 -418 -121 9.54
Net Cash From Continuing Investing Activities		 -330 -186 -236 -709 -515 -418 -121 9.54
Purchase of Property, Plant & Equipment		 -185 -114 -144 -93 -56 -43 -25 -19
Acquisitions		 -66 -27 -108 -20 -33 -14 -9.37 -4.19
Purchase of Investments		 -1,572 -1,878 -1,133 -1,589 -1,267 -537 -145 -47
Sale and/or Maturity of Investments		 1,493 1,832 1,149 993 840 177 59 80
Other Investing Activities, net		 0.04 0.07 0.04 0.05 0.40 0.04 0.06 0.03
Net Cash From Financing Activities		 13 -192 6.35 847 505 571 169 -0.15
Net Cash From Continuing Financing Activities		 13 -192 6.35 847 505 571 169 -0.15
Repayment of Debt		 -2.15 -208 -17 -390 -13 -0.26 0.00 -5.10
Repurchase of Common Equity		 0.00 -0.03 -0.00 -0.19 -0.16 -5.55 0.00 -0.02
Issuance of Common Equity		 20 19 15 15 11 571 0.07 0.00
Other Financing Activities, net		 -4.86 -3.59 7.63 -71 -68 6.03 19 4.96
Cash Interest Paid		 0.08 0.67 1.24 3.63 2.19 0.79 0.79 0.81
Cash Income Taxes Paid		 5.00 4.45 2.22 1.55 0.70 1.04 1.30 0.83

Quarterly Cash Flow Statements for Cloudflare

This table details how cash moves in and out of Cloudflare's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -32 26 -102 171 -6.42 -67 -104 53 66 -4.76
Net Cash From Operating Activities		 127 105 75 74 85 68 64 36 78 43
Net Cash From Continuing Operating Activities		 127 105 75 74 85 68 64 36 78 43
Net Income / (Loss) Continuing Operations		 -13 -15 -15 -36 -28 -24 -94 -38 -46 -43
Consolidated Net Income / (Loss)		 -13 -15 -15 -36 -28 -24 -94 -38 -46 -43
Depreciation Expense		 36 32 30 30 36 34 34 32 30 27
Amortization Expense		 14 11 8.56 6.38 4.21 4.82 5.39 7.04 10 13
Non-Cash Adjustments To Reconcile Net Income		 108 103 97 84 91 85 134 70 70 64
Changes in Operating Assets and Liabilities, net		 -18 -25 -46 -12 -18 -33 -14 -34 14 -19
Net Cash From Investing Activities		 -167 -76 -184 97 -102 -100 0.11 16 -20 -49
Net Cash From Continuing Investing Activities		 -167 -76 -184 97 -102 -100 0.11 16 -20 -49
Purchase of Property, Plant & Equipment		 -73 -50 -30 -32 -31 -27 -39 -18 -40 -42
Acquisitions		 -29 -10 -21 -5.92 -9.99 -5.93 -5.73 -4.97 -4.32 -6.65
Purchase of Investments		 -385 -397 -492 -299 -584 -498 -319 -476 -378 -333
Sale and/or Maturity of Investments		 320 381 358 434 524 431 363 514 402 332
Other Investing Activities, net		 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.05 0.01 -
Net Cash From Financing Activities		 8.03 -2.41 7.14 0.02 9.79 -35 -169 1.25 8.02 1.44
Net Cash From Continuing Financing Activities		 8.03 -2.41 7.14 0.02 9.79 -35 -169 1.25 8.02 1.44
Issuance of Common Equity		 9.34 - - - 8.63 - - - 6.60 -0.00
Other Financing Activities, net		 -1.31 -2.41 -1.16 0.02 1.16 0.79 -6.78 1.25 1.42 1.44
Cash Interest Paid		 0.01 0.01 0.06 0.01 0.00 0.07 0.59 0.00 0.60 0.00
Cash Income Taxes Paid		 0.97 1.28 1.84 0.90 0.45 1.45 1.30 1.26 0.78 0.45

Annual Balance Sheets for Cloudflare

This table presents Cloudflare's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018
Total Assets		 3,301 2,760 2,588 2,372 1,381 831 298
Total Current Assets		 2,269 1,983 1,888 1,956 1,130 690 197
Cash & Equivalents		 148 87 204 314 109 139 25
Restricted Cash		 4.27 2.52 11 2.96 2.59 0.00 -
Short-Term Investments		 1,708 1,587 1,446 1,508 923 498 136
Accounts Receivable		 317 248 149 96 63 34 25
Prepaid Expenses		 75 48 71 29 28 17 9.37
Other Current Assets		 17 11 8.29 6.08 3.54 2.06 1.55
Plant, Property, & Equipment, net		 467 323 287 184 124 101 73
Total Noncurrent Assets		 565 454 413 232 127 39 28
Goodwill		 181 148 148 24 17 4.08 4.08
Intangible Assets		 22 20 32 1.25 2.80 0.03 0.16
Other Noncurrent Operating Assets		 362 286 233 208 107 35 24
Total Liabilities & Shareholders' Equity		 3,301 2,760 2,588 2,372 1,381 831 298
Total Liabilities		 2,255 1,997 1,964 1,556 564 105 80
Total Current Liabilities		 794 567 398 289 141 84 61
Accounts Payable		 106 54 36 26 14 11 14
Accrued Expenses		 82 64 68 38 20 28 16
Current Deferred Revenue		 478 348 219 117 55 31 17
Current Employee Benefit Liabilities		 81 64 42 71 34 13 14
Other Current Liabilities		 48 38 33 25 18 0.00 -
Total Noncurrent Liabilities		 1,461 1,430 1,566 1,268 422 21 19
Long-Term Debt		 1,287 1,283 1,436 1,147 383 0.00 -
Noncurrent Deferred Revenue		 22 17 12 4.68 1.89 0.80 0.22
Other Noncurrent Operating Liabilities		 152 129 118 116 37 9.80 8.32
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,046 763 624 811 817 726 -114
Total Preferred & Common Equity		 1,046 763 624 811 817 726 -114
Total Common Equity		 1,046 763 624 811 817 726 -114
Common Stock		 2,153 1,785 1,476 1,495 1,237 1,027 82
Retained Earnings		 -1,103 -1,024 -840 -681 -421 -302 -196
Accumulated Other Comprehensive Income / (Loss)		 -4.25 1.98 -12 -2.65 0.16 0.06 -0.06

Quarterly Balance Sheets for Cloudflare

This table presents Cloudflare's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 3,063 2,917 2,802 2,590 2,533 2,668 2,491
Total Current Assets		 2,164 2,093 2,016 1,858 1,818 1,954 1,816
Cash & Equivalents		 183 157 254 94 159 256 138
Restricted Cash		 1.00 1.00 5.54 1.61 2.80 11 11
Short-Term Investments		 1,641 1,600 1,462 1,480 1,425 1,459 1,498
Accounts Receivable		 253 250 213 199 178 180 127
Prepaid Expenses		 73 71 70 71 44 41 35
Other Current Assets		 13 13 12 12 8.67 8.02 7.21
Plant, Property, & Equipment, net		 397 339 329 310 293 298 264
Total Noncurrent Assets		 502 485 456 422 422 415 411
Goodwill		 157 156 148 148 148 148 149
Intangible Assets		 19 22 14 18 23 28 37
Other Noncurrent Operating Assets		 326 307 294 256 251 239 224
Total Liabilities & Shareholders' Equity		 3,063 2,917 2,802 2,590 2,533 2,668 2,491
Total Liabilities		 2,090 2,035 2,004 1,891 1,891 2,015 1,897
Total Current Liabilities		 642 596 574 478 473 445 339
Accounts Payable		 74 60 48 41 32 55 39
Accrued Expenses		 69 67 68 56 55 69 55
Current Deferred Revenue		 390 371 356 294 268 239 171
Current Employee Benefit Liabilities		 66 58 62 52 47 47 45
Other Current Liabilities		 43 41 39 35 35 35 29
Total Noncurrent Liabilities		 1,448 1,439 1,430 1,413 1,418 1,570 1,557
Long-Term Debt		 1,286 1,285 1,284 1,282 1,281 1,437 1,435
Noncurrent Deferred Revenue		 22 24 18 17 19 13 8.69
Other Noncurrent Operating Liabilities		 140 130 128 113 118 120 114
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 973 882 797 699 642 653 594
Total Preferred & Common Equity		 973 882 797 699 642 653 594
Total Common Equity		 973 882 797 699 642 653 594
Common Stock		 2,047 1,957 1,858 1,699 1,621 1,537 1,405
Retained Earnings		 -1,090 -1,074 -1,059 -996 -972 -878 -794
Accumulated Other Comprehensive Income / (Loss)		 16 -1.32 -0.90 -4.15 -6.31 -6.14 -17

Annual Metrics And Ratios for Cloudflare

This table displays calculated financial ratios and metrics derived from Cloudflare's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017
Growth Metrics		 - - - - - - - -
Revenue Growth		 28.76% 32.97% 48.57% 52.28% 50.18% 48.97% 85.62% 0.00%
EBITDA Growth		 143.95% 33.20% -322.47% 231.97% 76.56% -15.09% -1,997.87% 0.00%
EBIT Growth		 19.36% 5.37% -56.16% -20.53% 2.55% -51.50% -1,609.46% 0.00%
NOPAT Growth		 16.56% 7.81% -57.58% -19.59% 1.09% -54.06% -1,545.10% 0.00%
Net Income Growth		 57.16% 4.88% 25.71% -118.07% -12.80% -42.83% -1,421.96% 0.00%
EPS Growth		 58.18% 6.78% 28.92% -107.50% 44.44% 66.67% -1,342.86% 0.00%
Operating Cash Flow Growth		 49.54% 105.84% 91.18% 477.42% 55.99% 20.17% -2,933.25% 0.00%
Free Cash Flow Firm Growth		 -110.85% 74.31% -428.85% 47.59% -31.80% 32.31% 0.00% 0.00%
Invested Capital Growth		 27.88% -7.39% 166.46% -9.39% 66.55% 92.07% 0.00% 0.00%
Revenue Q/Q Growth		 6.20% 7.26% 9.07% 11.49% 10.79% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 257.56% 19.28% -47.87% -7.07% 59.58% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 8.13% 3.73% -5.69% -15.11% 5.10% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 4.98% 4.07% -5.03% -14.66% 4.65% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 16.01% 8.94% 14.04% -20.05% -5.17% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 11.54% 8.33% 15.71% -18.57% -73.91% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 12.37% 2.96% 43.57% 324.81% -1.42% 17.35% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 -48.05% 36.91% -16.91% 34.41% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 8.92% -8.77% 4.61% -17.64% 12.24% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - -
Gross Margin		 77.32% 76.33% 76.15% 77.59% 76.56% 77.90% 154.81% 157.32%
EBITDA Margin		 0.86% -2.51% -5.00% 3.34% -3.85% -49.40% -63.94% 10.16%
Operating Margin		 -9.27% -14.30% -20.63% -19.45% -24.77% -75.22% -88.13% -14.42%
EBIT Margin		 -9.17% -14.64% -20.57% -19.57% -24.73% -76.22% -90.30% -14.25%
Profit (Net Income) Margin		 -4.72% -14.19% -19.83% -39.66% -27.69% -73.74% -90.48% -15.93%
Tax Burden Percent		 111.19% 103.42% 101.39% 104.97% 95.52% 202.13% 202.50% 221.27%
Interest Burden Percent		 46.29% 93.68% 95.07% 193.01% 117.24% 191.45% 98.96% 202.08%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -25.69% -33.73% -51.25% -56.66% -56.42% -90.25% -174.65% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -31.80% -16.20% -39.44% -30.70% -49.44% -164.92% -137.66% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 16.98% 7.21% 24.38% 24.77% 40.95% 184.44% 94.68% 0.00%
Return on Equity (ROE)		 -8.71% -26.52% -26.86% -31.89% -15.47% -44.85% -79.96% 0.00%
Cash Return on Invested Capital (CROIC)		 -50.15% -26.06% -142.09% -46.81% -106.36% -255.35% -374.65% 0.00%
Operating Return on Assets (OROA)		 -5.05% -7.10% -8.09% -6.85% -9.64% -38.75% -58.31% 0.00%
Return on Assets (ROA)		 -2.60% -6.88% -7.80% -13.87% -10.80% -37.49% -29.21% 0.00%
Return on Common Equity (ROCE)		 -8.71% -26.52% -26.78% -31.80% -15.47% -29.10% 41.63% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 -7.53% -24.11% -30.99% -32.08% -14.61% -29.16% 76.79% 0.00%
Net Operating Profit after Tax (NOPAT)		 -108 -130 -141 -89 -75 -76 -59 -6.81
NOPAT Margin		 -6.49% -10.01% -14.44% -13.62% -17.34% -52.65% -61.69% -10.10%
Net Nonoperating Expense Percent (NNEP)		 6.12% -17.53% -11.81% -25.95% -6.99% -6.97% -36.99% 0.00%
Return On Investment Capital (ROIC_SIMPLE)		 -4.64% -6.34% -6.84% - - - - -
Cost of Revenue to Revenue		 22.68% 23.68% 23.85% 22.41% 23.44% 44.19% 45.19% 42.68%
SG&A Expenses to Revenue		 16.68% 16.81% 18.43% 18.21% 21.29% 56.84% 88.42% 30.10%
R&D to Revenue		 25.24% 27.62% 30.59% 28.85% 29.50% 63.18% 56.53% 49.88%
Operating Expenses to Revenue		 86.59% 90.63% 96.78% 97.04% 101.33% 231.02% 242.93% 171.75%
Earnings before Interest and Taxes (EBIT)		 -153 -190 -201 -128 -107 -109 -87 -9.62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 14 -33 -49 22 -17 -71 -62 6.85
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 35.32 36.64 23.81 52.15 28.58 10.51 0.00 0.00
Price to Tangible Book Value (P/TBV)		 43.82 46.95 33.50 53.79 29.30 10.57 0.00 0.00
Price to Revenue (P/Rev)		 22.13 21.56 15.23 64.45 54.17 17.84 5.45 3.89
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 76.86 74.47 36.61 277.67 137.14 66.28 10.38 0.00
Enterprise Value to Revenue (EV/Rev)		 21.79 21.26 15.00 63.45 52.66 22.18 3.67 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 2,540.48 0.00 0.00 1,899.40 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 95.63 108.34 118.39 644.23 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 1.23 1.68 2.30 1.42 0.47 0.03 0.10 0.00
Long-Term Debt to Equity		 1.23 1.68 2.30 1.41 0.47 0.03 0.10 0.00
Financial Leverage		 -0.53 -0.45 -0.62 -0.81 -0.83 -0.82 -0.69 0.00
Leverage Ratio		 3.35 3.86 3.45 2.30 1.43 2.39 2.74 0.00
Compound Leverage Factor		 1.55 3.61 3.28 4.44 1.68 2.29 2.71 0.00
Debt to Total Capital		 55.17% 62.71% 69.71% 58.69% 31.93% 2.85% 9.36% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.61% 0.00% 0.00% 0.22% 0.00%
Long-Term Debt to Total Capital		 55.17% 62.71% 69.71% 58.08% 31.93% 2.85% 9.13% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.22% 0.00% 0.00% 289.90% 0.00%
Common Equity to Total Capital		 44.83% 37.29% 30.29% 41.09% 68.07% 197.15% -49.63% 0.00%
Debt to EBITDA		 89.89 -39.39 -29.44 52.86 -23.07 -0.15 -0.35 0.00
Net Debt to EBITDA		 -40.00 12.06 4.60 -30.36 39.21 17.67 4.87 0.00
Long-Term Debt to EBITDA		 89.89 -39.39 -29.44 52.30 -23.07 -0.15 -0.34 0.00
Debt to NOPAT		 -11.88 -9.88 -10.20 -12.97 -5.13 -0.24 -0.18 0.00
Net Debt to NOPAT		 5.29 3.03 1.59 7.45 8.72 16.58 5.05 0.00
Long-Term Debt to NOPAT		 -11.88 -9.88 -10.20 -12.83 -5.13 -0.24 -0.30 0.00
Altman Z-Score		 10.25 8.74 4.90 16.85 25.35 44.15 6.46 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.31% 0.27% 0.00% 70.25% 152.06% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 2.86 3.50 4.75 6.78 7.99 8.22 6.41 0.00
Quick Ratio		 2.74 3.39 4.52 6.64 7.75 15.99 6.05 0.00
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -212 -100 -391 -74 -141 -107 -127 0.00
Operating Cash Flow to CapEx		 205.60% 222.39% 86.07% 69.52% -30.38% -179.80% -339.91% 33.28%
Free Cash Flow to Firm to Interest Expense		 -40.71 -1.79 -78.35 -0.61 -5.64 -192.25 -257.03 0.00
Operating Cash Flow to Interest Expense		 73.22 4.53 24.80 0.53 -0.69 -69.99 -87.26 7.35
Operating Cash Flow Less CapEx to Interest Expense		 37.60 2.49 -4.02 -0.23 -2.94 -147.85 -138.60 -36.81
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.55 0.49 0.39 0.35 0.39 1.02 0.65 0.00
Accounts Receivable Turnover		 5.91 6.54 7.99 8.25 8.85 19.45 15.32 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 4.23 4.26 4.15 4.27 3.83 3.29 5.26 0.00
Accounts Payable Turnover		 4.75 6.87 7.54 7.25 7.79 9.85 6.10 0.00
Days Sales Outstanding (DSO)		 61.76 55.85 45.68 44.22 41.22 37.53 95.31 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 76.88 53.10 48.40 50.32 46.86 74.09 239.52 0.00
Cash Conversion Cycle (CCC)		 -15.12 2.74 -2.73 -6.11 -5.64 -73.12 -144.21 0.00
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 473 370 400 150 166 99 68 0.00
Invested Capital Turnover		 3.96 3.37 3.55 4.16 3.25 6.86 11.32 0.00
Increase / (Decrease) in Invested Capital		 103 -30 250 -16 66 31 68 0.00
Enterprise Value (EV)		 36,382 27,563 14,633 41,648 22,700 6,376 1,413 0.00
Market Capitalization		 36,955 27,956 14,857 42,310 23,352 7,629 1,050 525
Book Value per Share		 $3.05 $2.27 $1.90 $2.52 $2.66 $2.42 ($1.40) $0.00
Tangible Book Value per Share		 $2.46 $1.77 $1.35 $2.44 $2.59 $2.40 ($1.45) $0.00
Total Capital		 2,334 2,046 2,060 1,975 1,200 736 229 0.00
Total Debt		 1,287 1,283 1,436 1,159 383 11 11 0.00
Total Long-Term Debt		 1,287 1,283 1,436 1,147 383 11 10 0.00
Net Debt		 -573 -393 -224 -666 -651 -626 -150 0.00
Capital Expenditures (CapEx)		 185 114 144 93 56 43 25 19
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -385 -260 -170 -145 -46 -31 -25 0.00
Debt-free Net Working Capital (DFNWC)		 1,475 1,416 1,490 1,679 989 606 136 0.00
Net Working Capital (NWC)		 1,475 1,416 1,490 1,667 989 606 135 0.00
Net Nonoperating Expense (NNE)		 -30 54 53 171 45 30 28 3.94
Net Nonoperating Obligations (NNO)		 -573 -393 -224 -666 -651 -626 -150 0.00
Total Depreciation and Amortization (D&A)		 167 157 152 150 90 38 25 16
Debt-free, Cash-free Net Working Capital to Revenue		 -23.05% -20.07% -17.48% -22.15% -10.70% -21.57% -26.00% 0.00%
Debt-free Net Working Capital to Revenue		 88.36% 109.20% 152.78% 255.84% 229.34% 422.26% 140.77% 0.00%
Net Working Capital to Revenue		 88.36% 109.20% 152.78% 254.00% 229.34% 422.26% 140.50% 0.00%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.23) ($0.55) ($0.59) ($0.83) ($0.40) ($0.72) ($1.08) ($0.14)
Adjusted Weighted Average Basic Shares Outstanding		 341.41M 333.66M 326.33M 312.32M 308.83M 302.64M 80.98M 77.15M
Adjusted Diluted Earnings per Share		 ($0.23) ($0.55) ($0.59) ($0.83) ($0.40) ($0.72) ($1.08) ($0.14)
Adjusted Weighted Average Diluted Shares Outstanding		 341.41M 333.66M 326.33M 312.32M 308.83M 302.64M 80.98M 77.15M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.40) ($0.72) ($1.08) ($0.14)
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 345.07M 337.66M 330.32M 324.08M 299.77M 146.31M 80.98M 77.15M
Normalized Net Operating Profit after Tax (NOPAT)		 -108 -130 -141 -89 -75 -76 -59 -6.81
Normalized NOPAT Margin		 -6.49% -10.01% -14.44% -13.62% -17.34% -52.65% -61.69% -10.10%
Pre Tax Income Margin		 -4.24% -13.72% -19.56% -37.78% -28.99% -72.97% -89.36% -14.40%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 -29.47 -3.38 -40.25 -1.06 -4.27 -196.74 -175.38 -22.31
NOPAT to Interest Expense		 -20.85 -2.31 -28.26 -0.74 -2.99 -135.90 -119.82 -15.80
EBIT Less CapEx to Interest Expense		 -65.08 -5.42 -69.07 -1.82 -6.53 -274.60 -226.73 -66.46
NOPAT Less CapEx to Interest Expense		 -56.46 -4.35 -57.07 -1.50 -5.25 -213.76 -171.16 -59.96
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.02% 0.00% -0.07% -0.13% -10.49% 0.00% -0.30%

Quarterly Metrics And Ratios for Cloudflare

This table displays calculated financial ratios and metrics derived from Cloudflare's official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 26.89% 28.15% 29.99% 30.47% 31.95% 32.20% 31.54% 36.77% 41.89% 47.29%
EBITDA Growth		 514.85% 4,760.45% 120.31% -76.80% 63.13% 105.32% 27.33% -28.19% -456.39% -125.33%
EBIT Growth		 30.15% 13.39% 40.33% -11.01% 14.08% 10.15% 10.28% -18.80% -26.04% -66.51%
NOPAT Growth		 18.94% 21.47% 38.23% -15.40% 15.51% 14.66% 12.97% -18.11% -23.44% -73.42%
Net Income Growth		 53.89% 34.86% 84.04% 6.67% 39.31% 44.68% -48.68% 7.97% 40.75% 60.36%
EPS Growth		 37.50% 42.86% 85.71% 16.67% 38.46% 46.15% -40.00% 7.69% 45.83% 61.76%
Operating Cash Flow Growth		 49.00% 53.78% 16.08% 102.06% 9.37% 59.53% 68.49% 202.67% 92.34% 717.06%
Free Cash Flow Firm Growth		 -27,657.52% 1.36% -30.34% 80.63% 99.84% 77.98% 80.46% -95.94% -2,059.00% -336.43%
Invested Capital Growth		 27.88% 7.11% 10.07% -1.10% -7.39% 6.19% 2.20% 65.04% 166.46% 109.79%
Revenue Q/Q Growth		 6.94% 7.25% 5.91% 4.45% 8.01% 8.79% 6.31% 5.63% 8.21% 8.25%
EBITDA Q/Q Growth		 119.26% 127.29% 122.36% -272.33% -2,668.93% 100.95% -94.64% 22.34% -270.30% 87.02%
EBIT Q/Q Growth		 7.31% 1.65% 35.56% -18.90% -14.92% 32.24% -19.88% 7.96% -20.18% 32.34%
NOPAT Q/Q Growth		 -12.75% 11.25% 36.39% -27.37% -9.22% 30.19% -18.83% 6.74% -10.32% 28.81%
Net Income Q/Q Growth		 16.20% -1.68% 57.58% -27.55% -18.40% 75.09% -148.06% 17.06% -7.92% 33.04%
EPS Q/Q Growth		 -25.00% 0.00% 60.00% -25.00% -14.29% 75.00% -133.33% 7.69% 0.00% 35.00%
Operating Cash Flow Q/Q Growth		 21.56% 39.98% 1.68% -13.88% 25.46% 5.66% 77.00% -53.39% 83.01% 11.60%
Free Cash Flow Firm Q/Q Growth		 -152.86% 18.21% -80.36% -7,341.76% 99.10% -8.06% 73.20% 38.11% -22.86% 4.09%
Invested Capital Q/Q Growth		 8.92% 6.39% 13.52% -2.78% -8.77% 9.32% 2.00% -8.96% 4.61% 5.20%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 76.37% 77.69% 77.80% 77.54% 77.02% 76.74% 75.62% 75.73% 75.32% 75.59%
EBITDA Margin		 4.10% 2.00% 0.94% -4.47% -1.25% 0.05% -6.04% -3.30% -4.49% -1.31%
Operating Margin		 -7.55% -7.16% -8.65% -14.41% -11.82% -11.68% -18.21% -16.29% -18.45% -18.10%
EBIT Margin		 -6.82% -7.87% -8.59% -14.11% -12.40% -11.65% -18.70% -16.59% -19.04% -17.14%
Profit (Net Income) Margin		 -2.79% -3.56% -3.76% -9.39% -7.69% -7.01% -30.62% -13.12% -16.72% -16.76%
Tax Burden Percent		 118.49% 119.57% 108.23% 106.82% 107.96% 105.63% 101.58% 103.57% 102.39% 103.33%
Interest Burden Percent		 34.55% 37.87% 40.47% 62.28% 57.44% 56.99% 161.18% 76.39% 85.76% 94.62%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -20.92% -18.75% -22.96% -38.61% -27.87% -25.10% -39.13% -41.11% -45.84% -40.16%
ROIC Less NNEP Spread (ROIC-NNEP)		 -23.29% -20.25% -25.44% -39.34% -28.55% -26.65% -16.53% -39.40% -43.49% -37.81%
Return on Net Nonoperating Assets (RNNOA)		 12.43% 10.08% 12.42% 19.70% 12.70% 10.42% 6.60% 19.69% 26.89% 23.07%
Return on Equity (ROE)		 -8.49% -8.68% -10.54% -18.91% -15.16% -14.69% -32.53% -21.42% -18.95% -17.09%
Cash Return on Invested Capital (CROIC)		 -50.15% -34.01% -40.34% -36.18% -26.06% -40.37% -40.32% -99.03% -142.09% -118.42%
Operating Return on Assets (OROA)		 -3.76% -4.38% -4.66% -7.15% -6.01% -5.54% -8.43% -6.96% -7.49% -6.38%
Return on Assets (ROA)		 -1.54% -1.98% -2.04% -4.76% -3.73% -3.34% -13.80% -5.51% -6.57% -6.24%
Return on Common Equity (ROCE)		 -8.49% -8.68% -10.54% -18.91% -15.16% -14.69% -32.53% -21.42% -18.89% -17.09%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -9.64% -11.57% -22.76% 0.00% -28.89% -34.43% -29.13% 0.00% -37.87%
Net Operating Profit after Tax (NOPAT)		 -24 -22 -24 -38 -30 -27 -39 -33 -35 -32
NOPAT Margin		 -5.28% -5.01% -6.06% -10.09% -8.27% -8.18% -12.75% -11.40% -12.92% -12.67%
Net Nonoperating Expense Percent (NNEP)		 2.37% 1.50% 2.48% 0.73% 0.69% 1.55% -22.60% -1.71% -2.34% -2.35%
Return On Investment Capital (ROIC_SIMPLE)		 -1.04% - - - -1.47% - - - -1.72% -
Cost of Revenue to Revenue		 23.63% 22.31% 22.20% 22.46% 22.98% 23.26% 24.38% 24.27% 24.68% 24.41%
SG&A Expenses to Revenue		 16.05% 15.99% 17.37% 17.51% 16.66% 16.67% 17.23% 16.71% 16.69% 17.87%
R&D to Revenue		 26.14% 25.79% 25.57% 23.17% 26.60% 26.99% 29.05% 28.10% 29.01% 30.11%
Operating Expenses to Revenue		 83.92% 84.85% 86.46% 91.95% 88.84% 88.42% 93.83% 92.02% 93.78% 93.69%
Earnings before Interest and Taxes (EBIT)		 -31 -34 -34 -53 -45 -39 -58 -48 -52 -44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 19 8.60 3.79 -17 -4.55 0.18 -19 -9.58 -12 -3.33
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 35.32 28.40 31.93 40.78 36.64 30.13 33.80 31.21 23.81 30.49
Price to Tangible Book Value (P/TBV)		 43.82 34.70 39.99 51.21 46.95 39.50 46.06 42.70 33.50 44.45
Price to Revenue (P/Rev)		 22.13 17.58 19.05 23.47 21.56 17.43 19.25 19.34 15.23 20.26
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 76.86 62.36 67.74 89.14 74.47 51.21 57.73 55.19 36.61 46.85
Enterprise Value to Revenue (EV/Rev)		 21.79 17.24 18.73 23.16 21.26 17.18 19.01 19.06 15.00 20.02
Enterprise Value to EBITDA (EV/EBITDA)		 2,540.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 95.63 80.05 91.65 110.01 108.34 84.08 96.66 102.72 118.39 207.92
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.23 1.32 1.46 1.61 1.68 1.83 2.05 2.20 2.30 2.42
Long-Term Debt to Equity		 1.23 1.32 1.46 1.61 1.68 1.83 2.00 2.20 2.30 2.42
Financial Leverage		 -0.53 -0.50 -0.49 -0.50 -0.45 -0.39 -0.40 -0.50 -0.62 -0.61
Leverage Ratio		 3.35 3.38 3.58 3.77 3.86 3.93 4.09 4.30 3.45 3.32
Compound Leverage Factor		 1.16 1.28 1.45 2.35 2.21 2.24 6.60 3.28 2.95 3.14
Debt to Total Capital		 55.17% 56.93% 59.32% 61.70% 62.71% 64.71% 67.23% 68.77% 69.71% 70.73%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.80% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 55.17% 56.93% 59.32% 61.70% 62.71% 64.71% 65.43% 68.77% 69.71% 70.73%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 44.83% 43.07% 40.68% 38.30% 37.29% 35.29% 32.77% 31.23% 30.29% 29.27%
Debt to EBITDA		 89.89 -141.53 -73.39 -32.16 -39.39 -31.77 -30.01 -28.25 -29.44 -43.50
Net Debt to EBITDA		 -40.00 59.25 27.01 10.95 12.06 7.27 6.17 5.67 4.60 6.42
Long-Term Debt to EBITDA		 89.89 -141.53 -73.39 -32.16 -39.39 -31.77 -29.20 -28.25 -29.44 -43.50
Debt to NOPAT		 -11.88 -11.28 -10.72 -9.52 -9.88 -9.48 -9.40 -9.85 -10.20 -10.70
Net Debt to NOPAT		 5.29 4.72 3.95 3.24 3.03 2.17 1.93 1.98 1.59 1.58
Long-Term Debt to NOPAT		 -11.88 -11.28 -10.72 -9.52 -9.88 -9.48 -9.15 -9.85 -10.20 -10.70
Altman Z-Score		 10.38 8.51 8.87 10.25 8.91 7.20 7.35 6.62 5.09 6.30
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.31% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 2.86 3.37 3.51 3.51 3.50 3.89 3.84 4.40 4.75 5.35
Quick Ratio		 2.74 3.24 3.37 3.36 3.39 3.71 3.73 4.26 4.52 5.20
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -127 -50 -62 -34 -0.46 -51 -47 -176 -285 -232
Operating Cash Flow to CapEx		 174.03% 208.61% 252.54% 229.53% 277.26% 249.53% 166.33% 207.59% 194.60% 101.89%
Free Cash Flow to Firm to Interest Expense		 -88.23 -35.18 -50.61 -31.07 -0.43 -44.91 -0.91 -83.01 -325.89 -153.51
Operating Cash Flow to Interest Expense		 88.10 73.08 61.42 66.89 79.93 59.84 1.24 17.13 89.28 28.23
Operating Cash Flow Less CapEx to Interest Expense		 37.48 38.05 37.10 37.75 51.10 35.86 0.50 8.88 43.40 0.52
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.55 0.56 0.54 0.51 0.49 0.48 0.45 0.42 0.39 0.37
Accounts Receivable Turnover		 5.91 6.95 6.90 7.05 6.54 7.41 7.51 6.90 7.99 8.45
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 4.23 4.45 4.67 4.41 4.26 4.21 4.19 4.21 4.15 4.06
Accounts Payable Turnover		 4.75 6.16 7.30 6.28 6.87 7.30 6.25 5.85 7.54 5.62
Days Sales Outstanding (DSO)		 61.76 52.52 52.88 51.77 55.85 49.26 48.58 52.87 45.68 43.18
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 76.88 59.25 50.01 58.10 53.10 49.97 58.39 62.37 48.40 64.95
Cash Conversion Cycle (CCC)		 -15.12 -6.73 2.87 -6.33 2.74 -0.71 -9.81 -9.51 -2.73 -21.77
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 473 435 408 360 370 406 371 364 400 382
Invested Capital Turnover		 3.96 3.74 3.79 3.83 3.37 3.07 3.07 3.61 3.55 3.17
Increase / (Decrease) in Invested Capital		 103 29 37 -4.01 -30 24 7.98 143 250 200
Enterprise Value (EV)		 36,382 27,102 27,672 32,075 27,563 20,776 21,426 20,079 14,633 17,900
Market Capitalization		 36,955 27,640 28,145 32,513 27,956 21,069 21,697 20,368 14,857 18,112
Book Value per Share		 $3.05 $2.85 $2.59 $2.35 $2.27 $2.09 $1.93 $1.98 $1.90 $1.81
Tangible Book Value per Share		 $2.46 $2.33 $2.07 $1.88 $1.77 $1.60 $1.42 $1.44 $1.35 $1.24
Total Capital		 2,334 2,259 2,167 2,082 2,046 1,982 1,959 2,090 2,060 2,029
Total Debt		 1,287 1,286 1,285 1,284 1,283 1,282 1,317 1,437 1,436 1,435
Total Long-Term Debt		 1,287 1,286 1,285 1,284 1,283 1,282 1,281 1,437 1,436 1,435
Net Debt		 -573 -539 -473 -437 -393 -294 -271 -289 -224 -212
Capital Expenditures (CapEx)		 73 50 30 32 31 27 39 18 40 42
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -385 -303 -261 -280 -260 -196 -207 -216 -170 -170
Debt-free Net Working Capital (DFNWC)		 1,475 1,522 1,497 1,442 1,416 1,380 1,380 1,510 1,490 1,477
Net Working Capital (NWC)		 1,475 1,522 1,497 1,442 1,416 1,380 1,345 1,510 1,490 1,477
Net Nonoperating Expense (NNE)		 -11 -6.22 -9.21 -2.64 -2.12 -3.91 55 4.99 10 10
Net Nonoperating Obligations (NNO)		 -573 -539 -473 -437 -393 -294 -271 -289 -224 -212
Total Depreciation and Amortization (D&A)		 50 42 38 36 40 39 39 39 40 40
Debt-free, Cash-free Net Working Capital to Revenue		 -23.05% -19.25% -17.69% -20.19% -20.07% -16.19% -18.38% -20.53% -17.48% -19.07%
Debt-free Net Working Capital to Revenue		 88.36% 96.83% 101.31% 104.11% 109.20% 114.17% 122.45% 143.36% 152.78% 165.13%
Net Working Capital to Revenue		 88.36% 96.83% 101.31% 104.11% 109.20% 114.17% 119.31% 143.36% 152.78% 165.13%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.05) ($0.04) ($0.04) ($0.10) ($0.08) ($0.07) ($0.28) ($0.12) ($0.13) ($0.13)
Adjusted Weighted Average Basic Shares Outstanding		 341.41M 342.36M 340.65M 338.58M 333.66M 334.67M 332.30M 330.39M 326.33M 326.59M
Adjusted Diluted Earnings per Share		 ($0.05) ($0.04) ($0.04) ($0.10) ($0.08) ($0.07) ($0.28) ($0.12) ($0.13) ($0.13)
Adjusted Weighted Average Diluted Shares Outstanding		 341.41M 342.36M 340.65M 338.58M 333.66M 334.67M 332.30M 330.39M 326.33M 326.59M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 345.07M 343.19M 341.70M 339.79M 337.66M 335.77M 334.22M 331.91M 330.32M 328.62M
Normalized Net Operating Profit after Tax (NOPAT)		 -24 -22 -24 -38 -30 -27 -39 -33 -35 -32
Normalized NOPAT Margin		 -5.28% -5.01% -6.06% -10.09% -8.27% -8.18% -12.75% -11.40% -12.92% -12.67%
Pre Tax Income Margin		 -2.36% -2.98% -3.47% -8.79% -7.12% -6.64% -30.15% -12.67% -16.33% -16.22%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -21.72 -23.63 -28.27 -48.57 -42.03 -34.36 -1.11 -22.64 -59.76 -28.78
NOPAT to Interest Expense		 -16.82 -15.04 -19.94 -34.71 -28.05 -24.12 -0.76 -15.56 -40.55 -21.27
EBIT Less CapEx to Interest Expense		 -72.35 -58.66 -52.59 -77.71 -70.86 -58.34 -1.86 -30.89 -105.64 -56.49
NOPAT Less CapEx to Interest Expense		 -67.44 -50.08 -44.26 -63.86 -56.87 -48.10 -1.51 -23.82 -86.43 -48.98
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% -0.02% -0.02% -0.02% 0.00% 0.00% 0.00%

Frequently Asked Questions About Cloudflare's Financials

When does Cloudflare's financial year end?

According to the most recent income statement we have on file, Cloudflare's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cloudflare's net income changed over the last 7 years?

Cloudflare's net income appears to be on an upward trend, with a most recent value of -$78.80 million in 2024, rising from -$10.75 million in 2017. The previous period was -$183.95 million in 2023. Check out Cloudflare's forecast to explore projected trends and price targets.

What is Cloudflare's operating income?
Cloudflare's total operating income in 2024 was -$154.76 million, based on the following breakdown:
  • Total Gross Profit: $1.29 billion
  • Total Operating Expenses: $1.45 billion
How has Cloudflare revenue changed over the last 7 years?

Over the last 7 years, Cloudflare's total revenue changed from $134.92 million in 2017 to $1.67 billion in 2024, a change of 1,137.5%.

How much debt does Cloudflare have?

Cloudflare's total liabilities were at $2.25 billion at the end of 2024, a 12.9% increase from 2023, and a 2,705.9% increase since 2018.

How much cash does Cloudflare have?

In the past 6 years, Cloudflare's cash and equivalents has ranged from $25.06 million in 2018 to $313.78 million in 2021, and is currently $147.69 million as of their latest financial filing in 2024.

How has Cloudflare's book value per share changed over the last 7 years?

Over the last 7 years, Cloudflare's book value per share changed from 0.00 in 2017 to 3.05 in 2024, a change of 304.8%.


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This page (NYSE:NET) was last updated on 5/28/2025 by MarketBeat.com Staff
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