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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Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$2.2B
+29.8% ▲
5Y CAGR: +38.1%
Gross Profit
$1.6B
+25.0% ▲
5Y CAGR: +37.4%
Operating Income
-$203M
-31.4% ▼
Net Income
-$102M
-29.8% ▼
EPS (Diluted)
$-0.29
-26.1% ▼
EBITDA
$207M
+234.3% ▲
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $656M | $975M | $1.3B | $1.7B | $2.2B |
| YoY Growth | +52.3% | +48.6% | +33.0% | +28.8% | +29.8% |
| Cost of Revenue | $147M | $233M | $307M | $379M | $554M |
| Gross Profit | $509M | $743M | $990M | $1.3B | $1.6B |
| Gross Margin | 77.6% | 76.1% | 76.3% | 77.3% | 74.4% |
| R&D Expenses | $210M | $346M | $424M | $421M | $512M |
| SG&A Expenses | $447M | $645M | $817M | $1.0B | $1.3B |
| Operating Expenses | $657M | $991M | $1.2B | $1.4B | $1.8B |
| Operating Income | -$148M | -$249M | -$251M | -$155M | -$203M |
| Operating Margin | -22.6% | -25.5% | -19.3% | -9.3% | -9.4% |
| Interest Expense | $49M | $5M | $6M | $5M | $9M |
| Income Before Tax | -$269M | -$242M | -$243M | -$71M | -$93M |
| Tax Expense | -$9M | -$49M | -$59M | $8M | $10M |
| Net Income | -$260M | -$193M | -$184M | -$79M | -$102M |
| Net Margin | -39.7% | -19.8% | -14.2% | -4.7% | -4.7% |
| EPS (Diluted) | $-0.83 | $-0.59 | $-0.55 | $-0.23 | $-0.29 |
| EBITDA | -$125M | -$92M | -$43M | $62M | $207M |
| Shares Outstanding | 312M | 326M | 334M | 341M | 348M |