Cloudflare, Inc.
NET
Services-Prepackaged Software
Mkt Cap
$25.01BPE
-137.87Debt
$1.284BCash
$261.8MEV
$26.03BFCF
$162.7MP/E Ratio
-137.87Debt
$1.284BCash
$261.8MEV
$26.03BFCF
$162.7MCharts data: {"Earnings":[{"time":"2017-12-30","value":-10748000},{"time":"2018-12-30","value":-87164000},{"time":"2019-12-30","value":-105828000},{"time":"2020-12-30","value":-119370000},{"time":"2021-12-30","value":-260309000},{"time":"2022-12-30","value":-193381000},{"time":"2023-12-30","value":-183949000}],"Sales":[{"time":"2017-12-30","value":134915000},{"time":"2018-12-30","value":192674000},{"time":"2019-12-30","value":287022000},{"time":"2020-12-30","value":431059000},{"time":"2021-12-30","value":656426000},{"time":"2022-12-30","value":975241000},{"time":"2023-12-30","value":1296745000}],"Net Margins":[{"time":"2017-12-30","value":-0.07966497424304192},{"time":"2018-12-30","value":-0.452391085460415},{"time":"2019-12-30","value":-0.36871041244225183},{"time":"2020-12-30","value":-0.27692264863974536},{"time":"2021-12-30","value":-0.39655498106412607},{"time":"2022-12-30","value":-0.19829047384185036},{"time":"2023-12-30","value":-0.14185441239410987}],"Assets":[{"time":"2018-12-30","value":298380000},{"time":"2019-12-30","value":830824000},{"time":"2020-12-30","value":1380651000},{"time":"2021-12-30","value":2372071000},{"time":"2022-12-30","value":2587908000},{"time":"2023-12-30","value":2759767000}],"Stockholders Equity":[{"time":"2017-12-30","value":-59834000},{"time":"2018-12-30","value":-113505000},{"time":"2019-12-30","value":725828000},{"time":"2020-12-30","value":816940000},{"time":"2021-12-30","value":811359000},{"time":"2022-12-30","value":623964000},{"time":"2023-12-30","value":763047000}],"ROE":[{"time":"2017-12-30","value":0.179630310525788},{"time":"2018-12-30","value":0.7679309281529448},{"time":"2019-12-30","value":-0.1458031379335049},{"time":"2020-12-30","value":-0.14611844199084387},{"time":"2021-12-30","value":-0.3208308529270027},{"time":"2022-12-30","value":-0.30992332891000124},{"time":"2023-12-30","value":-0.2410716508943748}],"ROA":[{"time":"2018-12-30","value":-0.28453314565319393},{"time":"2019-12-30","value":-0.1260351169441422},{"time":"2020-12-30","value":-0.07733163558350373},{"time":"2021-12-30","value":-0.05382806838412509},{"time":"2022-12-30","value":-0.07370161535881492},{"time":"2023-12-30","value":-0.06444819435843678}]}
CloudFlare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, secure origin connection, and rate limiting products. It also offers website and application performance solutions, including content delivery, load balancing, DNS, agro smart routing, video stream delivery, content optimization, virtual backbone, always online, and cloudflare waiting room and registrar; and network services, which deliver network connectivity, security, and performance to customers as a service, including WAN, WARP, magic transit, magic firewall, cloudflare network interconnect, and spectrum. In addition, the company provides zero trust services, such as cloudflare access, cloudflare gateway, remote browser isolation, cloud access security broker, cloudflare area 1 email security, and data loss prevention products that protect, inspect, and privilege data. Further, it provides developer-based solutions consisting of cloudflare workers, pages, stream, and images, as well as Cloudflare Data Localization suite, a tool that set rules and controls at the network edge; durable objects and R2 object storage products; Consumer DNS Resolver, a consumer app to browse the Internet; and consumer VPN for consumers to secure and accelerate traffic on mobile devices. The company serves customers in the technology, healthcare, financial services, consumer and retail, and non-profit industries, as well as government. CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.
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![QTWO Logo](data:image/svg+xml,<svg xmlns='http://www.w3.org/2000/svg' width='18' height='18'><defs><linearGradient id="a" x1="3.349" x2="21.904" y1="3.122" y2="24.434" gradientUnits="userSpaceOnUse"><stop stop-color="%231A1E21"/><stop offset="1" stop-color="%2306060A"/></linearGradient></defs><path fill="url(%23a)" d="M0 0h18v18H0z"/><text x='50%' y='52%' dominant-baseline='middle' text-anchor='middle' font-size='5' font-family='sans-serif' fill='gray'>QTWO</text></svg>)
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DCF
Discounted Cash Flow Valuation of Cloudflare, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $162.7M | $211.5M | $269M | $334.8M | $407.3M | $484.3M | $562.3M | $637.2M | $704.5M | $759.3M | $797.3M | $7.973B |
| DCF | $183.9M | $203.4M | $220.1M | $232.9M | $240.8M | $243.1M | $239.6M | $230.3M | $215.8M | $197.1M | $1.971B | |
| Value | $4.178B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -
Earnings Stability -
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -8% | -45% | -37% | -28% | -40% | -20% | -14% | -13% |
| ROA | - | -28% | -13% | -7.7% | -5.4% | -7.4% | -6.4% | -6.2% |
| ROE | 18% | 77% | -15% | -15% | -32% | -31% | -24% | -23% |
What is the average Net Margin?
The average Net Margin over the past 5 years is -30.58%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +5.56%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is -11.33%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +3.66%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is -6.6%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -16.32%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | - | - | 0.00 | -5.21 | -40.90 | -71.77 | 9.17 | 7.90 | ||
| Debt Equity | - | -0.00 | 0.00 | 0.47 | 1.43 | 2.30 | 1.68 | 1.61 | ||
| MIN | ||||||||||
| Graham Stability | - | - | - | - | - | - | - | - | ||
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 7.90.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -4.82.
What is the Graham’s Stability?
Graham’s Stability measure stands at -.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|
| Revenue | 46% | 44% | 33% | -1.4% |
| Net Income | - | - | - | - |
| Stockholders Equity | - | -2.2% | 22% | 0.68% |
| FCF | - | - | - | - |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +46.42%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -1.38%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +16.11%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +0.68%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -.