Cloudflare, Inc.
NYSE: NET·San Francisco, California·CIK 0001477333
- Price
- $347.29
- Base IV
- $11.98
- Your value
- $11.98
- -96.6%
Valuation snapshot
Price is above even the bull case. Price as of Oct 1, 2026 · Valuation Aug 16, 2026.
Track record
Reported financials are not available yet.
Why the gap?
No revenue growth rate in a sensible range reproduces today's price — the market appears to be valuing something this model does not capture.
Assumed here
+21.3%
researched base case, grounded in filings and guidance
Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.
Your valuation
Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.
- 01 Revenue growth28.0%
- 02 Operating margin17.0%
- 03 Risk and beta1.66
- 04 Long-run growth3.2%
About 4 minutes · no account needed
What drives the base case
All three cases →Cloudflare has just raised its own full-year outlook to about $2.87 billion, roughly 32% more than last year, and its existing customers are spending about 20% more each year than they did before. That combination gives the business a strong floor, so this case assumes growth eases off gradually rather than falling away, settling into the mid-teens by the fifth year as the company grows past $6 billion in sales. On profits, management guided this year's adjusted operating profit to around $443 million and has just removed about 1,100 roles, roughly a fifth of staff, which should let a much larger revenue base carry a leaner cost structure. Offsetting that, the cost of running the network grew faster than sales last quarter as the company buys equipment for AI workloads, so the profit improvement is real but gradual.
What shapes the assumptions
No structured value drivers are attached to this valuation yet.
How confident is this estimate?
Quality checksSome of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.
- Scenario dispersion0.0
- Terminal-value dependency2.9
- Historical stability8.0
- Margin predictability6.5
Why the number moved
No prior valuation bridge is available yet. Future recalculations will explain what moved.
Base estimate
$11.98 -96.6%