Not investment advice. FilingSight is an automated analytical research tool, not a registered investment advisor. Ratings and scores are quantitative analytical classifications, not buy or sell recommendations. Nothing here is personalized to your circumstances. Investing involves risk of loss — consult a licensed professional. See full disclosures.
Create a free account to read 3 full reports each month — plus a 14-day Pro trial. Get started →
Cloudflare Inc.
NETTechnologyGenerated Jul 5, 2026, 08:51 PM UTC
NET (Cloudflare Inc.) analytical snapshot. Revenue grew +33.0% YoY to $1.30B. 5-year revenue CAGR +35.2%. Net margin at -14.19% (expanding ▲). Valuation could not be computed. Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score 8 (data confidence 64%). Descriptive analytics from public filings — not investment advice.
Price
$242.41
NYQ
Revenue (FY)
$1.30B
YoY +33.0%
Net margin
-14.19%
▲ 13.51pp
Free cash flow
$140.0M
10.80% margin
Risk level
Elevated
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 50Improving
80% conf
Revenue grew +33.0% YoY to $1.30B. 5-year revenue CAGR +35.2%. Net margin at -14.19% (expanding ▲).
- Revenue grew +33.0% YoY to $1.30B.
- 5-year revenue CAGR +35.2%.
- Net margin at -14.19% (expanding ▲).
- Return on equity -29.48%, ROA -5.57%, ROIC -29.73%.
- Gross margin 76.32%, operating margin -14.30%.
- Free cash flow margin 10.80% ($140.0M).
- Net income up ▲ +4.9% YoY.
- Asset turnover 0.21 — capital efficiency.
Revenue (FY)
$1.30B
YoY +33.0%
Net margin
-14.19%
▲ 13.51pp
ROE
-29.48%
ROA -5.57%
ROIC
-29.73%
EPS (diluted)
$-0.55
FY2025
Free cash flow
$140.0M
10.80% margin
Debt / equity
—
Cash $932.2M
Current ratio
1.96
Equity $1.53B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2019 | $134.9M | — | 78.66 | -7.21 | -7.97 | -$15.9M | 20.13 |
| 2020 | $192.7M | +42.8% | 77.40 | -44.06 | -45.24 | -$68.7M | 145.68 |
| 2021 | $287.0M | +49.0% | 77.90 | -37.61 | -36.87 | -$82.2M | 93.24 |
| 2022 | $431.1M | +50.2% | 76.56 | -24.77 | -27.69 | -$73.5M | -16.45 |
| 2023 | $656.4M | +52.3% | 77.59 | -19.45 | -39.66 | -$28.3M | -31.86 |
| 2024 | $975.2M | +48.6% | 76.15 | -20.63 | -19.83 | -$20.0M | -23.83 |
| 2025 | $1.30B | +33.0% | 76.32 | -14.30 | -14.19 | $140.0M | -29.48 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $479.1M | +26.5% | — | -8.03% |
| Jun 30, 2025 | $991.4M | +27.2% | +106.9% | -8.97% |
| Jun 30, 2025 | $512.3M | -34.3% | -48.3% | -17.35% |
| Sep 30, 2025 | $1.55B | +28.4% | +203.2% | -5.81% |
| Sep 30, 2025 | $562.0M | -53.5% | -63.8% | -16.05% |
| Mar 31, 2026 | $639.8M | +33.5% | +13.8% | -3.58% |
Revenue (annual, SEC 10-K)
2019: 135
2020: 193
2021: 287
2022: 431
2023: 656
2024: 975
2025: 1,297
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2019: -16
2020: -69
2021: -82
2022: -74
2023: -28
2024: -20
2025: 140
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 20Improving
80% conf
Latest annual report (10-K) filed Feb 26, 2026. Latest quarterly report (10-Q) filed May 8, 2026. 4 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 26, 2026.
- Latest quarterly report (10-Q) filed May 8, 2026.
- 4 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Cloudflare Inc.; broad institutional reporting.
- Recent filers include SYMMETRY PEAK MANAGEMENT LLC, Crawford Lake Capital Management, LLC, Draper Asset Management, LLC.
- 20 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 26, 2026
Annual report
Latest 10-Q
May 8, 2026
8-K (recent)
4
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
0
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| SYMMETRY PEAK MANAGEMENT LLC | 13F-HR | May 15, 2024 |
| Crawford Lake Capital Management, LLC | 13F-HR | May 15, 2020 |
| Draper Asset Management, LLC | 13F-HR | May 8, 2023 |
| Simplify Asset Management Inc. | 13F-HR | Nov 12, 2021 |
| Creek Drive Management Group LLC | 13F-HR | May 15, 2026 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 30, 2026 | 8-K | 8-K |
| May 7, 2026 | 8-K | 8-K |
| Feb 10, 2026 | 8-K | 8-K |
| Feb 10, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -46Deteriorating
66% conf
3 risk signal(s), 1 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. 3 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- Material weakness in internal controls: The term "material weakness" appears in 11 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Restatement of financial statements: The term "restate" "financial statements" appears in 28 recent filing(s) (vs 8 in the prior period). This risk language is ongoing.
- Deferred revenue growing — future revenue visibility: Deferred revenue grew +37.4% to $477.8M, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
- R&D intensity declining: R&D as % of revenue fell from 30.6% to 27.6%. This may signal reduced innovation investment — potentially impacting long-term competitive position. Compare with peer R&D trends.
- Endogenous analysis: 3 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Going concern doubt.
- Ongoing high-severity risk language: Material weakness in internal controls, Restatement of financial statements.
Revenue
$1.30B
+33.0% YoY
Gross profit
$989.7M
+33.3% YoY
Operating income
$-185.5M
+7.8% YoY
Net income
$-183.9M
+4.9% YoY
Operating cash flow
$254.4M
+105.8% YoY
Capex
$114.4M
-20.3% YoY
Total assets
$3.30B
+19.6% YoY
Total liabilities
$2.25B
+12.9% YoY
Filing quality score
70/100
stable
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $975.2M | $1.30B | $321.5M | +33.0% |
| Gross profit | $742.6M | $989.7M | $247.1M | +33.3% |
| Operating income | $-201.2M | $-185.5M | $15.7M | +7.8% |
| Net income | $-193.4M | $-183.9M | $9.4M | +4.9% |
| Operating cash flow | $123.6M | $254.4M | $130.8M | +105.8% |
| Capex | $143.6M | $114.4M | $-29.2M | -20.3% |
| Total assets | $2.76B | $3.30B | $541.4M | +19.6% |
| Total liabilities | $2.00B | $2.25B | $258.2M | +12.9% |
| Cash & equivalents | $86.9M | $147.7M | $60.8M | +70.0% |
| Stockholders equity | $811.4M | $624.0M | $-187.4M | -23.1% |
| Accounts receivable | $248.3M | $316.8M | $68.5M | +27.6% |
| R&D expense | $298.3M | $358.1M | $59.8M | +20.1% |
| Interest expense | $25.0M | $49.2M | $24.3M | +97.2% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Removed | AdvertisingExpense, AmortizationOfFinancingCostsAndDiscounts, ContractualObligation, ContractualObligationDueAfterFifthYear, ContractualObligationDueInFifthYear, ContractualObligationDueInFourthYear, ContractualObligationDueInNextTwelveMonths, ContractualObligationDueInSecondYear, ContractualObligationDueInThirdYear, CurrentFederalTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 1 | 0 | NEW |
| Material weakness in internal controls | high | 11 | 2 | Ongoing |
| Restatement of financial statements | high | 28 | 8 | Ongoing |
| Impairment charge | medium | 7 | 2 | Ongoing |
| Restructuring | medium | 29 | 11 | Ongoing |
| Off-balance sheet arrangements | medium | 28 | 8 | Ongoing |
| Related party transactions | low | 4 | 0 | NEW |
Filing signal breakdown
Red flags: 3
Positive: 1
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket price (Yahoo) or shares outstanding (SEC DEI) unavailable; multiples could not be computed.
- ProPrice & TechnicalsPrice $242.41 — uptrend (above 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Elevated.
This content is for Pro subscribers
Unlock the full breakdown from all analysts — valuation (DCF & Graham), price & technicals, macro, risk scorecard, and 13F/13D ownership flow — plus your research workspace.
3 sections free · 4 Pro sections locked · composite 8
Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Cloudflare Inc. is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewRevenue grew **+33.0%** YoY to $1.30B..
Risk
Elevated
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow NET stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| Snowflake Inc. SNOW | 8 | Supportive |
| Cloudflare Inc. NET● you | 8 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Nucor Corp. NUE | 5 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Ulta Beauty Inc. ULTA | 5 | Supportive |
| Pinterest Inc. PINS | 5 | Supportive |
| Amazon.com Inc. AMZN | 4 | Supportive |
| Microchip Technology MCHP | 3 | Supportive |
| Warner Bros Discovery WBD | 3 | Supportive |
| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Roku Inc. ROKU | 1 | Supportive |
| Lockheed Martin LMT | 0 | Supportive |
| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| MercadoLibre Inc. MELI | -1 | Supportive |
| EOG Resources EOG | -2 | Supportive |
| Applied Materials Inc. AMAT | -2 | Supportive |
| IBM Corp. IBM | -3 | Supportive |
| Energy Transfer ET | -3 | Supportive |
| Meta Platforms Inc. META | -4 | Supportive |
| Uber Technologies UBER | -4 | Supportive |
| Phillips 66 PSX | -4 | Supportive |
| United Airlines Holdings UAL | -5 | Supportive |
| Caterpillar Inc. CAT | -5 | Supportive |
| Alibaba Group BABA | -5 | Supportive |
| Comcast Corp. CMCSA | -6 | Supportive |
| TJX Cos. TJX | -6 | Supportive |
| Starbucks Corp. SBUX | -6 | Supportive |
| Schlumberger N.V. SLB | -7 | Supportive |
| Workday Inc. WDAY | -7 | Supportive |
| McDonald's Corp. MCD | -7 | Supportive |
| Micron Technology MU | -8 | Supportive |
| CF Industries CF | -8 | Supportive |
| Lam Research Corp. LRCX | -8 | Supportive |
| Albemarle Corp. ALB | -8 | Supportive |
| Delta Air Lines DAL | -8 | Supportive |
| Yum Brands Inc. YUM | -8 | Supportive |
| Linde plc LIN | -9 | Supportive |
| Home Depot Inc. HD | -10 | Supportive |
| Sherwin-Williams SHW | -10 | Supportive |
| Chipotle Mexican Grill CMG | -10 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| Salesforce Inc. CRM | -11 | Supportive |
| Netflix Inc. NFLX | -12 | Supportive |
| Union Pacific Corp. UNP | -12 | Supportive |
| Norfolk Southern NSC | -13 | Supportive |
| Air Products & Chemicals APD | -13 | Supportive |
| Exxon Mobil Corp. XOM | -14 | Supportive |
| Palo Alto Networks PANW | -14 | Supportive |
| Royal Caribbean Group RCL | -15 | Supportive |
| Apple Inc. AAPL | -15 | Supportive |
| ConocoPhillips COP | -15 | Supportive |
| Zscaler Inc. ZS | -15 | Supportive |
| Occidental Petroleum OXY | -15 | Supportive |
| Devon Energy DVN | -16 | Supportive |
| Kinder Morgan KMI | -16 | Supportive |
| Cisco Systems Inc. CSCO | -16 | Supportive |
| CSX Corp. CSX | -16 | Supportive |
| Microsoft Corp. MSFT | -16 | Supportive |
| Tesla Inc. TSLA | -17 | Supportive |
| Walt Disney Co. DIS | -17 | Supportive |
| Dow Inc. DOW | -17 | Supportive |
| ON Semiconductor Corp. ON | -18 | Supportive |
| Oracle Corp. ORCL | -18 | Supportive |
| CrowdStrike Holdings CRWD | -18 | Supportive |
| Mosaic Co. MOS | -18 | Supportive |
| RTX Corp. RTX | -19 | Supportive |
| Advanced Micro Devices AMD | -19 | Supportive |
| Freeport-McMoRan FCX | -20 | Supportive |
| Dollar General Corp. DG | -20 | Supportive |
| Eaton Corp. ETN | -22 | Supportive |
| Chevron Corp. CVX | -22 | Supportive |
| T-Mobile US Inc. TMUS | -22 | Supportive |
| 3M Co. MMM | -23 | Supportive |
| Lowe's Cos. LOW | -24 | Supportive |
| Texas Instruments TXN | -24 | Supportive |
| Honeywell International HON | -24 | Supportive |
| Qualcomm Inc. QCOM | -25 | Supportive |
| Marvell Technology MRVL | -29 | Supportive |
| Intel Corp. INTC | -31 | Supportive |
| Verizon Communications VZ | -31 | Supportive |
| ServiceNow Inc. NOW | -33 | Supportive |
| Newmont Corp. NEM | -34 | Supportive |
| Autodesk Inc. ADSK | -34 | Supportive |
| Broadcom Inc. AVGO | -35 | Supportive |
| Spotify Technology SPOT | — | Supportive |