Cloudflare, Inc. (NET) Stock

Cloudflare, Inc. (NET) is a Technology stock trading at $277.70 (as of 2026-07-17), with a market capitalization of $97.92B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cloudflare provides cloud services that combine security, performance, and reliability capabilities delivered via its network. Its offerings cover areas such as traffic and origin protection, DDoS and bot mitigation, content delivery and routing, optimization, DNS, load balancing, and related infrastructure that serves businesses and other organizations using public cloud, private cloud, on-premises, SaaS, and IoT environments.

Understand Cloudflare, Inc.: how it makes money

Cloudflare provides integrated cloud-based security and performance services for businesses globally, including products like cloud firewall, bot management, DDoS, SSL/TLS, and content delivery, sold to customers who use these platforms and services.

Cloudflare's growth and durability appear to be driven by recurring customer expansion and renewals, evidenced by a Dollar-Based Net Retention of 118% and supported by Annualized Remaining Performance Obligations of 0.62 USD_B.

Business quality (Weak): Strong operating visibility from net retention and remaining performance obligations, but no clean official segment revenue breakdown is provided that sums to the latest quarter total.

Bull case

  • Customer expansion: Dollar-Based Net Retention is 118%, which indicates customers are, on net, spending more over time.
  • Ongoing commitments: Annualized Remaining Performance Obligations are 0.62 USD_B, suggesting future revenue is supported by already contracted work.

Bear case

  • Profitability is not yet achieved: Operating margin is -9.7% in the latest reported quarter.
  • Growth is not purely one way: Large Customers Added is 232, while Net New Large Customers is 198, implying some customers are offset by downsells or churn.
Valuation — source: SEC EDGAR (first-party)
Price$277.70
Market Cap$97.92B
Price / Book64.14
Price / Sales42.05
FCF Yield0.3%
DCF Value (model)$14.12
DCF Upside vs Price-94.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.17B
Net Margin-4.7%
Revenue Growth (YoY)33.5%
EPS Growth (YoY)-36.4%
FCF Growth (YoY)55.4%
Financial Health — source: SEC EDGAR
Altman Z-Score13.11 (safe)
Valuation vs Sector & Industry
Sector P/E (Technology)34.7
Industry P/E (Business Services)30.7
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($6.39B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorTechnology
IndustryBusiness Services
CEOMatthew Prince
Employees4,400
CountryUS
IPO Date2019-09-13

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NET earnings history · NET institutional & insider holders · NET KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.