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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-13.18	-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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	- -	-66.59	-65.62	-36.28	-30.44	-28.69	-32.44	-37.09	-33.39	-19.96
Long-Term Debt/Equity (%)	- -	- -	- -	1.45	50.26	153.95	247.42	183.06	135.31	147.77
Long-Term Debt/Capital (%)	- -	-10.82	-5.64	-3.61	5,078.34	204.98	209.32	339.29	392.22	93.19
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 (%)	- -	-11.18	-5.78	-3.61	5,297.48	211.07	213.83	348.6	405.42	152.06
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 (%)	- -	19.51	11.8	32.33	-272.18	282.76	231	368.34	534.47	169.45
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)

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	- -	0.23	-0.98	-0.54	-0.15	0.3	0.36	0.53	0.56	0.38
Common Equity/Total Assets	- -	-66.59	-65.62	-36.28	-30.44	-28.69	-32.44	-37.09	-33.39	-19.96
Long-Term Debt/Equity (%)	- -	- -	- -	1.45	50.26	153.95	247.42	183.06	135.31	147.77
Long-Term Debt/Capital (%)	- -	-10.82	-5.64	-3.61	5,078.34	204.98	209.32	339.29	392.22	93.19
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 (%)	- -	-11.18	-5.78	-3.61	5,297.48	211.07	213.83	348.6	405.42	152.06
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	- -	0.18	-0.68	14.55	24.74	16.38	4.89	8.71	10.23	9.45

Working Capital (USD)

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	- -	23.51	10.52	9.73	8.85	8.25	7.99	6.54	5.91	6.2
Days Sales Outstanding	- -	15.52	34.7	37.53	41.22	44.22	45.68	55.85	61.76	58.86
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	12.19	4.58	4.93	7.79	7.25	7.54	6.87	4.75	5.82
Accounts Payable Turnover Days	- -	29.95	79.69	74.09	46.86	50.32	48.4	53.1	76.88	62.73
Cash Conversion Cycle	- -	-14.43	-44.99	-36.56	-5.64	-6.11	-2.73	2.74	-15.12	-3.87
Inventory to Cash Days	- -	15.52	34.7	37.53	41.22	44.22	45.68	55.85	61.76	58.86
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	- -	- -	- -	2,496	22,780	41,070	14,753	27,780	36,763	68,691
- 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	- -	-62	-150	1,870	22,176	40,542	14,681	27,542	36,370	68,108
Total Capital	- -	-98	-185	-291	8	613	738	412	361	2,314
Total Debt/Capital (%)	- -	-11.18	-5.78	-3.61	5,297.48	211.07	213.83	348.6	405.42	152.06
Total Debt / EV	- -	-0.17	-0.07	0.01	0.02	0.03	0.11	0.05	0.04	0.05
EV/Sales	- -	- -	- -	6.51	51.45	61.76	15.05	21.24	21.78	31.42
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	3,302.08	348.5	114.11	105.73	94.17	111.15
EV/Free Cash Flow to Firm	- -	- -	- -	95.94	351.49	193.69	53.92	73.47	63.67	73.36
Diluted Market Cap	- -	- -	- -	2,496	22,780	41,070	14,753	27,780	36,763	68,691
Diluted Enterprise Value	- -	-14	-14	2,368	23,099	42,050	16,126	29,129	38,079	71,266
EV per Share	- -	- -	- -	12.78	73.98	129.81	44.99	82.55	106.53	195.48
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	-13	4	-42	-38	7	116	129	260	386	613
TTM Free Cash Flow to Firm	6	27	-7	19	63	209	272	375	571	928

Multiples (USD)

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	- -	- -	- -	135.93	580.44	260.54	55.21	75.33	65.01	74.77
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	-62	-150	1,870	22,176	40,542	14,681	27,542	36,370	68,108
Low Price	- -	- -	- -	14.5	15.05	60.96	37.37	37.56	66.24	89.42
EV/Sales	- -	- -	- -	6.51	51.45	61.76	15.05	21.24	21.78	31.42
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	-24.04	-95.41	-134.68	-119.99	-112.68	-378.31	-593.61
Price/Earnings High	- -	- -	- -	-30.53	-222.93	-265.93	-223.51	-157.64	-517.4	-885.81
Price/Earnings Low	- -	- -	- -	-20.05	-37.8	-73.14	-63.06	-68.13	-286.99	-304.65
Price/Book Value	- -	- -	- -	-8.28	-54.21	-60.35	-17.57	-27.14	-33.35	-57.03
Price/Book Value Average	- -	- -	- -	-8.44	-27.1	-51.52	-27.64	-20.25	-27.04	-50.4
Price/Book Value High	- -	- -	- -	-10.72	-63.33	-101.72	-51.48	-28.33	-36.99	-75.21
Price/Book Value Low	- -	- -	- -	-7.04	-10.74	-27.98	-14.53	-12.24	-20.52	-25.86
Price/Tangible Book Value	- -	- -	- -	3.46	28.58	51.92	33.27	46.66	43.6	57.69
Price/Tangible Book Value Average	- -	- -	- -	3.53	14.29	44.32	52.33	34.81	35.35	50.98
Price/Tangible Book Value High	- -	- -	- -	4.48	33.39	87.51	97.47	48.7	48.35	76.08
Price/Tangible Book Value Low	- -	- -	- -	2.94	5.66	24.07	27.5	21.05	26.82	26.16
Price/Sales	- -	- -	- -	8.7	52.85	62.57	15.13	21.42	22.02	31.69
Price/Sales Average	- -	- -	- -	8.86	26.42	53.41	23.79	15.98	17.85	28
Price/Sales High	- -	- -	- -	11.26	61.73	105.45	44.32	22.36	24.42	41.79
Price/Sales Low	- -	- -	- -	7.39	10.47	29	12.5	9.66	13.54	14.37
Price/Cash Flow	- -	- -	- -	-64.14	-1,329.9	635.29	119.37	109.2	96.64	113.89
Price/Cash Flow Average	- -	- -	- -	-65.38	-664.9	542.3	187.74	81.47	78.36	100.66
Price/Cash Flow High	- -	- -	- -	-83.01	-1,553.56	1,070.77	349.71	113.98	107.17	150.2
Price/Cash Flow Low	- -	- -	- -	-54.51	-263.39	294.5	98.67	49.26	59.45	51.66
Price/Free Cash Flow Average	- -	- -	- -	138.57	290.2	222.4	86.84	56.2	52.72	66.08
Price/Free Cash Flow High	- -	- -	- -	175.93	678.05	439.14	161.76	78.63	72.1	98.6
Price/Free Cash Flow Low	- -	- -	- -	115.53	114.96	120.78	45.64	33.98	39.99	33.91
EV/Sales Average	- -	- -	- -	8.42	27.16	54.9	25.2	17.02	18.64	29.19
EV/Sales High	- -	- -	- -	10.81	62.47	106.95	45.73	23.4	25.21	42.97
EV/Sales Low	- -	- -	- -	6.94	11.21	30.5	13.91	10.7	14.33	15.56
EV/EBITDA Average	- -	-5.53	0.22	-30.79	-204.05	-590.04	-248.58	-444.5	-1,151.16	-3,623.74
EV/EBITDA High	- -	-5.53	0.22	-39.53	-469.33	-1,149.41	-451.06	-611.02	-1,556.52	-5,334.95
EV/EBITDA Low	- -	-5.53	0.22	-25.4	-84.19	-327.76	-137.23	-279.48	-885.04	-1,931.55
EV/EBIT Average	- -	1.39	0.17	-22.38	-109.66	-282.24	-122.15	-119.02	-201.12	-305.4
EV/EBIT High	- -	1.39	0.17	-28.74	-252.23	-549.81	-221.64	-163.61	-271.95	-449.62
EV/EBIT Low	- -	1.39	0.17	-18.46	-45.25	-156.78	-67.43	-74.83	-154.63	-162.79
Last Price	- -	- -	- -	17.06	75.99	131.5	45.21	83.26	107.68	197.15
High Price	- -	- -	- -	22.08	88.77	221.64	132.45	86.91	119.42	260
Enterprise Value Average	- -	-14	-14	2,416	11,708	36,038	24,577	22,076	31,126	63,281
Enterprise Value High	- -	-14	-14	3,102	26,930	70,202	44,596	30,346	42,087	93,164
Enterprise Value Low	- -	-14	-14	1,993	4,831	20,019	13,568	13,880	23,931	33,731

Shares Outstanding	- -	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	- -	0.29	1.98	4.35	3.44	5.83	5.06	5.02	5.44	11.77
Book Value per Share	- -	-0.43	-2.42	-2.06	-1.4	-2.18	-2.57	-3.07	-3.23	-3.46
Tangible Book Value per Share	- -	-0.26	-1.45	4.93	2.66	2.53	1.36	1.78	2.47	3.42

Cloudflare, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)