Cloudflare, Inc. NET NYSE

NYSE • Technology • Software - Infrastructure • US • USD

SharesGrow Score

50/100

4/7 Pass

SharesGrow Intrinsic Value

Income Statement Balance Sheet Cash Flow Statement

Annual Quarterly

Cloudflare, Inc. (NET) generated $666.87M in operating cash flow for fiscal year 2025. After capital expenditures of $342.55M, free cash flow was $324.32M.

Free cash flow margin was 15% of revenue. Cash conversion ratio was -6.52x, suggesting some earnings are non-cash.

Criteria supported by this page:

HEALTH (33/100, Fail) — weak cash flow raises concerns about debt servicing
MOAT (76/100, Pass) — $324.32M (15% FCF margin) supports a durable competitive advantage
INCOME (10/100) — Cash conversion ratio was -6.52x suggests some earnings are non-cash items

Overall SharesGrow Score: 50/100 with 4/7 criteria passed.

SharesGrow 7-Criteria Score

50/100

SG Score

View full scorecard →

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VALUE

75/100

Price-to-Earnings & upside

→ Valuation

✓

FUTURE

67/100

Analyst consensus

→ Forecast

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PAST

0/100

→ Income

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HEALTH

33/100

Debt-to-Equity & liquidity

Proven by this page

✓

MOAT

76/100

Proven by this page

✓

GROWTH

90/100

→ Income

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INCOME

10/100

→ Income

Cloudflare, Inc. Cash Flow History

Metric	TTM	FY2025	FY2024	FY2023	FY2022
Operating Cash Flow	$666.87M	$666.87M	$380.43M	$254.41M	$123.6M
Capital Expenditure	$-342.55M	$-342.55M	$-185.04M	$-134.94M	$-163.36M
Free Cash Flow	$324.32M	$324.32M	$195.39M	$119.46M	$-39.77M