Cloudflare, Inc. Financial Ratios — NET Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	-15.47	-31.89	-26.86	-26.52	-8.71	-8.16
Return on Assets (%)	- -	- -	-37.77	-18.74	-10.8	-13.87	-7.8	-6.88	-2.6	-2.19
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	71.74	78.66	77.4	77.9	76.56	77.59	76.15	76.32	77.32	74.51
EBITDA Margin (%)	-10.23	1.81	-34.25	-27.34	-13.31	-9.3	-10.14	-3.83	-1.62	-0.81
Operating Margin (%)	-20.08	-7.21	-44.06	-37.61	-24.77	-19.45	-20.63	-14.3	-9.27	-9.56
Incremental Operating Margin (%)	- -	14.56	- -	- -	0.82	- -	- -	4.89	8.24	- -
Pretax Margin (%)	-20.36	-7.2	-44.68	-36.48	-28.99	-37.78	-19.56	-13.72	-4.24	-4.28
Profit Margin (%)	-20.44	-7.97	-45.24	-36.87	-27.69	-39.66	-19.83	-14.19	-4.72	-4.72
Net Income to Common Margin (%)	-20.44	-7.97	-45.24	-36.87	-27.69	-39.66	-19.83	-14.19	-4.72	-4.72
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	-15.47	-31.89	-26.86	-26.52	-8.71	-8.16

Credit (USD)

Credit Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	11	11	11	428	1,293	1,577	1,435	1,463	3,518
ST Debt	- -	- -	- -	- -	18	37	33	38	48	1,362
LT Debt	- -	11	10	11	411	1,256	1,544	1,397	1,416	2,156
Total Debt/EBITDA	- -	4.47	-0.16	-0.13	-7.46	-21.17	-15.95	-28.9	-54.11	-201.47
Net Debt/EBITDA	- -	-9.75	0.38	1.77	-4.78	-13.84	-12.46	-24.09	-42.15	-132.96
Total Debt/EBIT	- -	-1.12	-0.13	-0.1	-4.01	-10.13	-7.84	-7.74	-9.45	-16.98
Net Debt/EBIT	- -	2.45	0.29	1.29	-2.57	-6.62	-6.12	-6.45	-7.36	-11.21
EBITDA to Interest Expense	-13.26	2.84	-66.53	-70.56	-2.3	-1.24	-19.84	-8.46	-5.2	-1.99
EBITDA-CapEx/Interest Expense	-41.64	-23.82	-101.65	-122.07	-4.56	-3.13	-48.65	-27.94	-40.82	-38
EBIT to Interest Expense	-26.04	-11.29	-85.58	-97.07	-4.28	-2.59	-40.37	-31.59	-29.78	-23.64
Interest Expense	1	1	1	1	25	49	5	6	5	9
Common Equity/Total Assets	- -	-36.68	-38.04	87.36	59.17	34.39	24.11	27.65	31.69	24.17
Long-Term Debt/Equity (%)	- -	- -	- -	1.45	50.26	153.95	247.42	183.06	135.31	147.77
Long-Term Debt/Capital (%)	- -	-21.61	-10.16	1.43	32.97	59.55	70.14	63.54	56.41	43.32
Long-Term Debt/Total Assets (%)	- -	6.48	3.5	1.26	29.74	52.95	59.65	50.61	42.88	35.72
Total Debt/Equity (%)	- -	-18.26	-9.43	1.45	52.43	158.52	252.75	188.09	139.86	241.13
Total Debt/Capital (%)	- -	-22.33	-10.41	1.43	34.4	61.32	71.65	65.29	58.31	70.69
Total Debt/Total Assets (%)	- -	6.7	3.59	1.26	31.02	54.52	60.94	52	44.32	58.29
Net Debt to Equity	- -	39.83	21.85	-19.15	33.59	103.61	197.45	156.81	108.93	159.13
Net Debt/Capital (%)	- -	32.49	19.4	-23.27	24.15	47.08	61.7	56.67	48.25	57.56
EBITDA	-9	2	-66	-78	-57	-61	-99	-50	-27	-17
EBITDA-CapEx	-27	-21	-101	-136	-114	-154	-242	-164	-212	-333
Operating Income (Loss)	-17	-10	-85	-108	-107	-128	-201	-185	-155	-207

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	2.7	2.62	7.59	7.3	6.31	4.15	2.95	2.34	1.74
Current Ratio	- -	3.39	3.21	8.22	7.99	6.78	4.74	3.5	2.86	1.98
Quick Ratio	- -	3.26	3.05	8.02	7.77	6.67	4.54	3.41	2.76	1.92
CFO/Avg Current Liab	- -	- -	-0.98	-0.54	-0.15	0.3	0.36	0.53	0.56	0.38
Common Equity/Total Assets	- -	-36.68	-38.04	87.36	59.17	34.39	24.11	27.65	31.69	24.17
Long-Term Debt/Equity (%)	- -	- -	- -	1.45	50.26	153.95	247.42	183.06	135.31	147.77
Long-Term Debt/Capital (%)	- -	-21.61	-10.16	1.43	32.97	59.55	70.14	63.54	56.41	43.32
Long-Term Debt/Total Assets (%)	- -	6.48	3.5	1.26	29.74	52.95	59.65	50.61	42.88	35.72
Total Debt/Equity (%)	- -	-18.26	-9.43	1.45	52.43	158.52	252.75	188.09	139.86	241.13
Total Debt/Capital (%)	- -	-22.33	-10.41	1.43	34.4	61.32	71.65	65.29	58.31	70.69
Total Debt/Total Assets (%)	- -	6.7	3.59	1.26	31.02	54.52	60.94	52	44.32	58.29
CFO/Total Liabilities	- -	1.42	-10.51	-37.07	-3.04	4.15	6.29	12.74	16.87	13.18
CFO/CapEx	-0.72	0.14	-1.24	-0.68	-0.3	0.7	0.86	2.22	2.06	1.91
Altman's Z-Score	- -	- -	- -	- -	25.91	17.29	4.94	8.96	10.41	9.65

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	10.52	9.73	8.85	8.25	7.99	6.54	5.91	6.2
Days Sales Outstanding	- -	- -	34.7	37.53	41.22	44.22	45.68	55.85	61.76	58.86
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	23,878	43,418	14,915	28,589	37,455	70,212
- Cash & Cash Equivalents	- -	24	25	139	109	314	204	87	148	944
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	11	11	11	428	1,293	1,577	1,435	1,463	3,518
Enterprise Value	- -	- -	- -	- -	23,274	42,889	14,842	28,350	37,062	69,629
Total Capital	- -	-49	-103	736	1,245	2,109	2,201	2,198	2,509	4,977
Total Debt/Capital (%)	- -	-22.33	-10.41	1.43	34.4	61.32	71.65	65.29	58.31	70.69
Total Debt / EV	- -	- -	- -	- -	0.02	0.03	0.11	0.05	0.04	0.05
EV/Sales	- -	- -	- -	- -	53.99	65.34	15.22	21.86	22.2	32.12
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	23,192	41,903	14,745	28,260	37,081	69,520
Diluted Enterprise Value	- -	- -	- -	- -	22,588	41,374	14,672	28,022	36,688	68,937
EV per Share	- -	- -	- -	- -	75.41	132.53	44.96	83.99	107.47	197.87
TTM Sales	85	135	193	287	431	656	975	1,297	1,670	2,168
TTM EBITDA	-9	2	-66	-78	-57	-61	-99	-50	-27	-17
TTM Operating Income	-17	-10	-85	-108	-107	-128	-201	-185	-155	-207
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	-315.52	-1,478.68	-736.85	201.85	189.78	241.81
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	- -	- -	23,274	42,889	14,842	28,350	37,062	69,629
Low Price	- -	- -	- -	- -	77.35	61.01	38.03	39.04	66.48	96.54
EV/Sales	- -	- -	- -	- -	53.99	65.34	15.22	21.86	22.2	32.12
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	29.23	53.22	23.9	37.47	35.8	48.12
Price/Book Value Average	- -	- -	- -	- -	29.91	44.44	38.27	27.41	28.75	42.39
Price/Book Value High	- -	- -	- -	- -	31.28	86.67	71.92	37.94	38.17	60.81
Price/Book Value Low	- -	- -	- -	- -	29.22	24.2	20.12	17.27	21.91	23.28
Price/Tangible Book Value	- -	- -	- -	- -	29.96	54.89	33.63	48.01	44.42	58.96
Price/Tangible Book Value Average	- -	- -	- -	- -	30.66	45.83	53.85	35.12	35.67	51.94
Price/Tangible Book Value High	- -	- -	- -	- -	32.07	89.39	101.2	48.62	47.36	74.51
Price/Tangible Book Value Low	- -	- -	- -	- -	29.96	24.96	28.31	22.13	27.19	28.53
Price/Sales	- -	- -	- -	- -	53.8	63.83	15.12	21.79	22.21	32.07
Price/Sales Average	- -	- -	- -	- -	55.06	53.3	24.21	15.94	17.84	28.25
Price/Sales High	- -	- -	- -	- -	57.58	103.96	45.49	22.07	23.68	40.52
Price/Sales Low	- -	- -	- -	- -	53.79	29.03	12.73	10.05	13.59	15.52
Price/Cash Flow	- -	- -	- -	- -	-1,353.96	648.17	119.3	111.08	97.47	115.27
Price/Cash Flow Average	- -	- -	- -	- -	-1,385.58	541.2	191.01	81.25	78.28	101.54
Price/Cash Flow High	- -	- -	- -	- -	-1,449.07	1,055.57	358.97	112.49	103.93	145.67
Price/Cash Flow Low	- -	- -	- -	- -	-1,353.7	294.76	100.42	51.2	59.66	55.77
Price/Free Cash Flow Average	- -	- -	- -	- -	-322.89	-1,234.65	-1,179.72	147.64	152.41	213.01
Price/Free Cash Flow High	- -	- -	- -	- -	-337.69	-2,408.09	-2,217.12	204.4	202.35	305.58
Price/Free Cash Flow Low	- -	- -	- -	- -	-315.46	-672.44	-620.23	93.04	116.16	117
EV/Sales Average	- -	- -	- -	- -	55.29	54.42	24.41	15.94	17.78	28.26
EV/Sales High	- -	- -	- -	- -	57.88	106.91	45.94	22.14	23.68	40.66
EV/Sales Low	- -	- -	- -	- -	53.98	29.27	12.8	9.98	13.5	15.4
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	77.36	134.17	45.18	84.7	108.61	199.53
High Price	- -	- -	- -	- -	82.8	218.49	135.96	85.77	115.8	252.15
Enterprise Value Average	- -	- -	- -	- -	23,832	35,724	23,806	20,673	29,687	61,266
Enterprise Value High	- -	- -	- -	- -	24,952	70,179	44,804	28,712	39,543	88,145
Enterprise Value Low	- -	- -	- -	- -	23,270	19,216	12,481	12,939	22,533	33,389

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	87	293	293	300	309	324	330	338	345	352
Diluted Weighted Avg Shares	237	251	81	146	300	312	326	334	341	348
Basic Weighted Avg Shares	237	251	81	146	300	312	326	334	341	348
Revenue per Share	0.36	0.54	2.38	1.96	1.44	2.1	2.99	3.89	4.89	6.22
EBITDA per Share	-0.04	0.01	-0.81	-0.54	-0.19	-0.2	-0.3	-0.15	-0.08	-0.05
Operating Income per Share	-0.07	-0.04	-1.05	-0.74	-0.36	-0.41	-0.62	-0.56	-0.45	-0.59
Basic EPS, GAAP	-0.07	-0.04	-1.08	-0.72	-0.4	-0.83	-0.59	-0.55	-0.23	-0.29
Basic EPS from Cont Ops	-0.07	-0.04	-1.08	-0.72	-0.4	-0.83	-0.59	-0.55	-0.23	-0.29
Diluted EPS, GAAP	-0.07	-0.04	-1.08	-0.72	-0.4	-0.83	-0.59	-0.55	-0.23	-0.29
Diluted EPS from Cont Ops	-0.07	-0.04	-1.08	-0.72	-0.4	-0.83	-0.59	-0.55	-0.23	-0.29
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.06	0.01	-0.53	-0.27	-0.06	0.21	0.38	0.76	1.11	1.73
Free Cash Flow per Basic Share	-0.13	-0.08	-0.96	-0.66	-0.25	-0.09	-0.06	0.42	0.57	0.83
Cash & Equivalents per Share	- -	0.25	0.55	2.12	3.34	5.63	5	4.96	5.38	11.66
Book Value per Share	- -	-0.2	-0.39	2.42	2.65	2.52	1.89	2.26	3.03	4.15
Tangible Book Value per Share	- -	-0.22	-0.4	2.4	2.58	2.44	1.34	1.76	2.45	3.38