NET NYSE
Cloudflare, Inc.
1W: +11.6%
1M: -4.8%
3M: +25.8%
YTD: +69.5%
1Y: +53.0%
3Y: +429.1%
5Y: +83.8%
$328.09
-3.77 (-1.14%)
After Hours: $328.50 (+0.41, +0.12%)
Weekly Expected Move ±8.0%
$274
$300
$326
$352
$378
Credit Risk of going bust: lower than 56% of companies Debt: 2.9% of company value Bonds: $472.6M held by 84 funds → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.75 (down 99.5%), Cloudflare, Inc. would be worth roughly what it owes.
Total debt $3.53B against a stock market value of $118.29B.
Distance to default 5.80 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $2.28B (short-term plus half of long-term), stock volatility 66.7%; Altman Z'' 1.63. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.75 (down 99.5%), Cloudflare, Inc. would be worth roughly what it owes.
Total debt $3.53B against a stock market value of $118.29B.
Distance to default 5.80 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $2.28B (short-term plus half of long-term), stock volatility 66.7%; Altman Z'' 1.63. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$667M
+75.3% ▲
Capital Expenditures
$343M
-85.1% ▼
5Y CAGR: +35.5%
Free Cash Flow
$324M
+66.0% ▲
Dividends Paid
$0
+0.0% ▲
Buybacks
$0
+0.0% ▲
Net Change in Cash
$800M
+1170.3% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$260M | -$193M | -$184M | -$79M | -$102M |
| Depreciation & Amort. | $67M | $102M | $136M | $210M | $291M |
| Stock-Based Comp. | $90M | $203M | $274M | $338M | $451M |
| Change in Working Capital | $3M | -$79M | -$105M | -$109M | -$34M |
| Other Non-Cash Items | $156M | $91M | $131M | $18M | $59M |
| Operating Cash Flow | $65M | $124M | $254M | $380M | $667M |
| — Investing Activities — | |||||
| Capital Expenditures | -$108M | -$163M | -$114M | -$185M | -$343M |
| Acquisitions (Net) | -$6M | -$88M | -$6M | -$38M | -$51M |
| Investment Purchases | -$1.6B | -$1.1B | -$1.9B | -$1.6B | -$3.5B |
| Investment Sales | $993M | $1.1B | $1.8B | $1.5B | $2.1B |
| Other Investing | $53K | $36K | -$20M | -$28M | $2M |
| Investing Cash Flow | -$709M | -$236M | -$186M | -$330M | -$1.8B |
| — Financing Activities — | |||||
| Net Debt Issuance | $817M | -$17M | -$208M | $0 | $1.9B |
| Stock Repurchased | -$189K | -$3K | -$34K | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | -$6M | -$2M | -$18M | -$20M | -$52M |
| Financing Cash Flow | $847M | $6M | -$192M | $13M | $1.9B |
| Net Change in Cash | $203M | -$106M | -$124M | $63M | $800M |
| Cash End of Period | $321M | $215M | $91M | $154M | $954M |
| Free Cash Flow | -$43M | -$40M | $119M | $195M | $324M |