Cloudflare, Inc. (NET) stock
NETNYSEServices-Prepackaged SoftwareFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 9/30294% above fair value
$305.81−12.69 (-3.98%)
Close on Nov 13, 2026Market cap $108.89BP/E –Yield –
Cloudflare gross margin
Gross margin is gross profit as a percentage of revenue.
Cloudflare's gross margin for the twelve months ending Sep 30, 2026 was 71.9%. For fiscal 2025 it was 74.5%, against 77.3% the year before. The highest annual figure on record is 78.7% in fiscal 2017.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 74.5% | −2.8 |
| FY2024 | Dec 31, 2024 | 77.3% | +1.0 |
| FY2023 | Dec 31, 2023 | 76.3% | +0.2 |
| FY2022 | Dec 31, 2022 | 76.1% | −1.4 |
| FY2021 | Dec 31, 2021 | 77.6% | +1.0 |
| FY2020 | Dec 31, 2020 | 76.6% | −1.3 |
| FY2019 | Dec 31, 2019 | 77.9% | +0.5 |
| FY2018 | Dec 31, 2018 | 77.4% | −1.3 |
| FY2017 | Dec 31, 2017 | 78.7% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 71.2% | −2.8 |
| Q2 FY2026 | Jun 30, 2026 | 71.8% | −3.1 |
| Q1 FY2026 | Mar 31, 2026 | 71.2% | −4.7 |
| Q4 FY2025 | Dec 31, 2025 | 73.6% | −2.7 |
| Q3 FY2025 | Sep 30, 2025 | 74.0% | −3.7 |
| Q2 FY2025 | Jun 30, 2025 | 74.9% | −2.9 |
| Q1 FY2025 | Mar 31, 2025 | 75.9% | −1.7 |
| Q4 FY2024 | Dec 31, 2024 | 76.4% | −0.7 |
| Q3 FY2024 | Sep 30, 2024 | 77.7% | +0.9 |
| Q2 FY2024 | Jun 30, 2024 | 77.8% | +2.2 |
| Q1 FY2024 | Mar 31, 2024 | 77.5% | +1.8 |
| Q4 FY2023 | Dec 31, 2023 | 77.0% | +1.7 |
| Q3 FY2023 | Sep 30, 2023 | 76.7% | +1.1 |
| Q2 FY2023 | Jun 30, 2023 | 75.6% | −0.6 |
| Q1 FY2023 | Mar 31, 2023 | 75.7% | −2.1 |
| Q4 FY2022 | Dec 31, 2022 | 75.3% | −2.7 |
| Q3 FY2022 | Sep 30, 2022 | 75.6% | −2.6 |
| Q2 FY2022 | Jun 30, 2022 | 76.2% | −0.8 |
| Q1 FY2022 | Mar 31, 2022 | 77.8% | +1.1 |
| Q4 FY2021 | Dec 31, 2021 | 78.0% | +1.1 |
| Q3 FY2021 | Sep 30, 2021 | 78.2% | +1.9 |
| Q2 FY2021 | Jun 30, 2021 | 77.0% | +1.3 |
| Q1 FY2021 | Mar 31, 2021 | 76.8% | −0.4 |
| Q4 FY2020 | Dec 31, 2020 | 76.9% | −1.4 |
| Q3 FY2020 | Sep 30, 2020 | 76.3% | −2.0 |
| Q2 FY2020 | Jun 30, 2020 | 75.8% | −2.2 |
| Q1 FY2020 | Mar 31, 2020 | 77.2% | +0.4 |
| Q4 FY2019 | Dec 31, 2019 | 78.3% | +1.7 |
| Q3 FY2019 | Sep 30, 2019 | 78.3% | +0.7 |
| Q2 FY2019 | Jun 30, 2019 | 78.0% | – |
| Q1 FY2019 | Mar 31, 2019 | 76.7% | – |
| Q4 FY2018 | Dec 31, 2018 | 76.7% | – |
| Q3 FY2018 | Sep 30, 2018 | 77.6% | – |
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