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Cloudflare Overview
About Cloudflare
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm’s edge computing platform, Workers, leverages this network by providing clients the ability to deploy and execute code without maintaining servers.
Founded
2009
HQ
Employees
4.3K
Website
Financials (LTM)
EV
$63B
Cloudflare Financials
Cloudflare reported last 12-month revenue of $2B and EBITDA of $520M.
In the same LTM period, Cloudflare generated $2B in gross profit, $520M in EBITDA, and $364M in net income.
Revenue (LTM)
Cloudflare P&L
In the most recent fiscal year, Cloudflare reported revenue of $2B and EBITDA of $490M.
Cloudflare expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 75% | XXX | 75% | XXX | XXX | XXX |
| EBITDA | $520M | XXX | $490M | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | 23% | XXX | XXX | XXX |
| EBIT Margin | 14% | XXX | 14% | XXX | XXX | XXX |
| Net Profit | $364M | XXX | $343M | XXX | XXX | XXX |
| Net Margin | 16% | XXX | 16% | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Cloudflare Stock Performance
Cloudflare has current market cap of $64B, and enterprise value of $63B.
Market Cap Evolution
Cloudflare's stock price is $181.02.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $63B | $64B | 0.0% | XXX | XXX | XXX | $0.97 |
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Start Free TrialCloudflare Valuation Multiples
Cloudflare trades at 27.1x EV/Revenue multiple, and 121.3x EV/EBITDA.
EV / Revenue (LTM)
Cloudflare Financial Valuation Multiples
As of April 5, 2026, Cloudflare has market cap of $64B and EV of $63B.
Equity research analysts estimate Cloudflare's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Cloudflare has a P/E ratio of 175.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $64B | XXX | $64B | XXX | XXX | XXX |
| EV (current) | $63B | XXX | $63B | XXX | XXX | XXX |
| EV/Revenue | 27.1x | XXX | 29.1x | XXX | XXX | XXX |
| EV/EBITDA | 121.3x | XXX | 128.9x | XXX | XXX | XXX |
| EV/EBIT | 194.6x | XXX | 207.7x | XXX | XXX | XXX |
| EV/Gross Profit | 35.9x | XXX | 39.1x | XXX | XXX | XXX |
| P/E | 175.0x | XXX | 185.8x | XXX | XXX | XXX |
| EV/FCF | 218.3x | XXX | 240.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Cloudflare Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Cloudflare Margins & Growth Rates
Cloudflare's revenue in the last 12 month grew by 28%.
Cloudflare's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.4M for the same period.
Cloudflare's rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Cloudflare's rule of X is 94% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Cloudflare Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 28% | XXX | 29% | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | 23% | XXX | XXX | XXX |
| EBITDA Growth | 28% | XXX | 24% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 50% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 94% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 36% | XXX | 42% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 10% | XXX | 18% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 16% | XXX | 24% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 84% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Cloudflare Public Comps
See public comps and valuation multiples for other Cybersecurity and Cloud Infrastructure comps.
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Cloudflare M&A Activity
Cloudflare acquired XXX companies to date.
Last acquisition by Cloudflare was on XXXXXXXX, XXXXX. Cloudflare acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Cloudflare
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialCloudflare Investment Activity
Cloudflare invested in XXX companies to date.
Cloudflare made its latest investment on XXXXXXXX, XXXXX. Cloudflare invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Cloudflare
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Cloudflare
| When was Cloudflare founded? | Cloudflare was founded in 2009. |
| Where is Cloudflare headquartered? | Cloudflare is headquartered in United States. |
| How many employees does Cloudflare have? | As of today, Cloudflare has over 4K employees. |
| Who is the CEO of Cloudflare? | Cloudflare's CEO is Matthew Prince. |
| Is Cloudflare publicly listed? | Yes, Cloudflare is a public company listed on NYSE. |
| What is the stock symbol of Cloudflare? | Cloudflare trades under NET ticker. |
| When did Cloudflare go public? | Cloudflare went public in 2019. |
| Who are competitors of Cloudflare? | Cloudflare main competitors are Fortinet, Snowflake, Baidu, CoreWeave. |
| What is the current market cap of Cloudflare? | Cloudflare's current market cap is $64B. |
| What is the current revenue of Cloudflare? | Cloudflare's last 12 months revenue is $2B. |
| What is the current revenue growth of Cloudflare? | Cloudflare revenue growth (NTM/LTM) is 28%. |
| What is the current EV/Revenue multiple of Cloudflare? | Current revenue multiple of Cloudflare is 27.1x. |
| Is Cloudflare profitable? | Yes, Cloudflare is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Cloudflare? | Cloudflare's last 12 months EBITDA is $520M. |
| What is Cloudflare's EBITDA margin? | Cloudflare's last 12 months EBITDA margin is 22%. |
| What is the current EV/EBITDA multiple of Cloudflare? | Current EBITDA multiple of Cloudflare is 121.3x. |
| What is the current FCF of Cloudflare? | Cloudflare's last 12 months FCF is $289M. |
| What is Cloudflare's FCF margin? | Cloudflare's last 12 months FCF margin is 12%. |
| What is the current EV/FCF multiple of Cloudflare? | Current FCF multiple of Cloudflare is 218.3x. |
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