Cloudflare (NET): analysis in plain words
Is Cloudflare cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Cloudflare (NET) is listed on the NYSE and we classify it in software and cloud. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Cloudflare according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Cloudflare (NET) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $266.58 | Last price on November 4, 2026 |
| P/E ratio (TTM) | N/A | Price over earnings per share |
| Revenue growth | +35.9% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | -8.2% | Profit for every 100 of sales |
| Net debt / EBITDA | N/A | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $94.9 billion | What the stock market values it at |
The Cloudflare figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any NET figure that is not available shows as N/A: we do not estimate it.
How Cloudflare makes money
Cloudflare runs a global network that speeds up and protects websites, apps and corporate networks. It charges subscriptions for services like attack protection, content delivery, Zero Trust security for employees and its Workers developer platform. It serves customers of every size, though large customers generate most revenue. The United States is its main market.
Over the last 12 months, Cloudflare brought in revenue of $2.5 billion. For every 100 it sells, Cloudflare keeps 72.6 after the direct cost of what it sells (gross margin) and -7.6 after all operating costs (operating margin). With 5,156 full-time employees, that is about $487,000 of revenue per employee.
Cloudflare against its sector
To know whether a Cloudflare figure is high or low you have to put it next to similar companies. This table compares Cloudflare with the median of the 19 software and cloud companies Fintols covers, with data as of November 4, 2026.
| Figure | Cloudflare | software and cloud median |
|---|---|---|
| Revenue growth | +35.9% | +20.5% (25) |
| Net margin | -8.2% | 16.0% (25) |
| Dividend yield | 0.00% | 0.00% (25) |
In short, against the typical software and cloud company, Cloudflare grows faster and earns a thinner margin. By size, Cloudflare ranks number 14 of 22 software and cloud companies quoted in USD on Fintols.
The bull case for Cloudflare
These are the strengths in the Cloudflare figures as of November 4, 2026:
- Cloudflare is selling more than a year ago: +35.9% in its latest quarter (the typical software and cloud company grew +20.5%).
The main risk for Cloudflare
Cloudflare is losing money: its net margin over the last 12 months is -8.2%, so it spends more than it brings in. Until it turns a profit it relies on its cash or on raising money.
And, like the rest of software and cloud, Cloudflare is exposed to a competitor or AI making what it sells cheaper and forcing price cuts.
Frequently asked questions about Cloudflare
Is it a good time to buy Cloudflare stock?
Fintols does not tell you whether to buy or sell Cloudflare, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Cloudflare stock trades at $266.58, 28% below its 52-week high ($370.35) and 68% above its low ($158.83). With Cloudflare, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Cloudflare pay a dividend?
No. As of November 4, 2026, Cloudflare does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying Cloudflare today is counting on the share price rising, not on income.
Is Cloudflare stock expensive?
Cloudflare has no meaningful P/E as of November 4, 2026 because its last 12 months of earnings are negative or close to zero, so that yardstick cannot tell you whether it is expensive. A high P/E alone does not make Cloudflare expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Cloudflare's competitors?
On Fintols we compare Cloudflare with Datadog, Snowflake and Zscaler, which are also in software and cloud. As of November 4, 2026, Datadog is worth $67.8 billion and trades on a P/E of 377.4; Snowflake is worth $102.5 billion; Zscaler is worth $36.6 billion. Each has a side-by-side comparison with Cloudflare below.
Cloudflare competitors
- Datadog (DDOG) analysis · Cloudflare vs Datadog comparison
- Snowflake (SNOW) analysis · Cloudflare vs Snowflake comparison
- Zscaler (ZS) analysis · Cloudflare vs Zscaler comparison
To understand Cloudflare better
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More companies like Cloudflare: software and cloud stocks. Open the full NET analysis with its valuation and scenarios. Educational content about Cloudflare, not investment advice.