Cloudflare, Inc. (NET) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 4.72B | 4.64B | 4.54B | 4.41B | 2.62B | 2.27B | 2.16B | 2.09B | 2.02B | 1.98B | 1.86B | 1.82B | 1.95B | 1.89B | 1.82B | 1.81B | 1.89B | 1.95B | 1.93B | 1.15B |
| Cash & Short-Term Investments | 4.17B | 4.1B | 4.04B | 3.96B | 1.91B | 1.86B | 1.82B | 1.76B | 1.72B | 1.67B | 1.57B | 1.58B | 1.72B | 1.65B | 1.64B | 1.64B | 1.73B | 1.82B | 1.81B | 1.03B |
| Cash Only | 943.18M | 943.54M | 1.05B | 1.52B | 204.46M | 147.69M | 182.88M | 156.97M | 254.4M | 86.86M | 94.14M | 159.32M | 256.36M | 204.18M | 137.84M | 142.68M | 151.98M | 313.78M | 618.23M | 247.55M |
| Short-Term Investments | 3.23B | 3.16B | 2.99B | 2.44B | 1.71B | 1.71B | 1.64B | 1.6B | 1.46B | 1.59B | 1.48B | 1.43B | 1.46B | 1.45B | 1.5B | 1.5B | 1.57B | 1.51B | 1.2B | 785.99M |
| Accounts Receivable | 403.75M | 406.02M | 374.54M | 328.78M | 302.31M | 333.32M | 266.38M | 263.13M | 224.77M | 259.31M | 211.16M | 186.59M | 187.77M | 156.84M | 134.08M | 129.31M | 131.68M | 101.62M | 89.75M | 81.1M |
| Days Sales Outstanding | 56.96 | 58.43 | 57.56 | 56.05 | 59.7 | 59.98 | 56.63 | 55.36 | 58.18 | 59.7 | 54.52 | 55.22 | 53.44 | 48.72 | 47.73 | 50.64 | 49.48 | 45.47 | 45.6 | 46.57 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.61M | 2.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | 2.6 | 3.38 | - | - | - | - | - | - | - | - |
| Other Current Assets | 137.07M | 137.57M | 118.72M | 117.33M | 407.11M | 79.76M | 73.65M | 1M | 5.54M | 2.52M | 39.11M | 2.8M | 10.51M | 10.55M | 10.71M | 9.36M | 2.49M | 2.96M | 471K | 2.66M |
| Total Non-Current Assets | 1.45B | 1.39B | 1.25B | 1.16B | 1.1B | 1.03B | 898.87M | 823.65M | 785.46M | 776.69M | 731.91M | 715.15M | 713.16M | 700.02M | 674.83M | 654.45M | 459.14M | 416.21M | 384.94M | 299.98M |
| Property, Plant & Equipment | 875.25M | 856.34M | 810.51M | 732.7M | 691.96M | 635.8M | 548.07M | 480.99M | 471.24M | 461.37M | 436.22M | 423.3M | 429.1M | 418.96M | 397.09M | 376.73M | 341.3M | 314.05M | 277.82M | 201.18M |
| Fixed Asset Turnover | 0.74x | 0.74x | 0.73x | 0.72x | 0.72x | 0.78x | 0.84x | 0.84x | 0.81x | 0.81x | 0.78x | 0.72x | 0.68x | 0.67x | 0.66x | 0.65x | 0.65x | 0.65x | 0.72x | 0.80x |
| Goodwill | 233.49M | 226.56M | 181.09M | 181.09M | 181.09M | 181.09M | 157.2M | 156.16M | 148.05M | 148.05M | 148.05M | 148.05M | 148.05M | 148.05M | 149.12M | 149.12M | 28.48M | 23.53M | 17.17M | 17.17M |
| Intangible Assets | 38.31M | 41.8M | 18.41M | 22.11M | 23.9M | 21.86M | 19.25M | 21.66M | 14.3M | 19.56M | 17.82M | 22.71M | 27.6M | 32.48M | 37.37M | 42.26M | 3.85M | 1.25M | 700K | 1.4M |
| Long-Term Investments | 1.23M | 0 | 0 | 0 | 0 | 0 | 0 | 2.02M | 1.84M | 0 | 1.89M | 2.26M | -13.47M | 471K | 471K | 1.75M | 5.97M | 4.22M | 0 | 0 |
| Other Non-Current Assets | 300.04M | 266.72M | 239.62M | 220.63M | 200.03M | 193.41M | 174.36M | 162.81M | 150.03M | 147.71M | 129.82M | 121.09M | 108.42M | 100.53M | 91.24M | 86.34M | 85.51M | 77.01M | 89.25M | 80.24M |
| Total Assets | 6.16B | 6.04B | 5.79B | 5.56B | 3.72B | 3.3B | 3.06B | 2.92B | 2.8B | 2.76B | 2.59B | 2.53B | 2.67B | 2.59B | 2.49B | 2.47B | 2.35B | 2.37B | 2.32B | 1.45B |
| Asset Turnover | 0.10x | 0.10x | 0.10x | 0.11x | 0.14x | 0.14x | 0.14x | 0.14x | 0.14x | 0.14x | 0.13x | 0.12x | 0.11x | 0.11x | 0.10x | 0.10x | 0.09x | 0.08x | 0.09x | 0.11x |
| Asset Growth % | 65.64% | 82.85% | 88.93% | 90.71% | 32.82% | 19.62% | 18.26% | 15.14% | 5.03% | 6.64% | 3.99% | 2.62% | 13.32% | 9.1% | 7.56% | 70.72% | 67.48% | 71.81% | 68.86% | 6% |
| Total Current Liabilities | 2.41B | 2.35B | 2.22B | 857.59M | 821.01M | 793.65M | 641.62M | 595.97M | 574.06M | 567.08M | 477.77M | 473.12M | 444.5M | 397.87M | 339.29M | 332.81M | 276.62M | 288.56M | 226.96M | 200.48M |
| Accounts Payable | 58.84M | 84.11M | 85.88M | 95.68M | 93.78M | 105.81M | 74.11M | 59.53M | 47.83M | 53.73M | 40.59M | 32.38M | 54.56M | 35.61M | 39.23M | 55.73M | 32.92M | 26.09M | 34.56M | 29.56M |
| Days Payables Outstanding | 34.93 | 49.4 | 57.08 | 66.99 | 77.71 | 75.89 | 64.06 | 54.88 | 54.34 | 51.74 | 42.99 | 52.59 | 57.61 | 50.78 | 70.49 | 72.29 | 56.44 | 65.65 | 78.6 | 64.99 |
| Short-Term Debt | 1.37B | 1.29B | 1.29B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35.33M | 0 | 0 | 0 | 0 | 0 | 12.12M | 0 | 0 |
| Deferred Revenue (Current) | 755.1M | 684.21M | 598.98M | 546.7M | 508.09M | 477.76M | 389.8M | 370.97M | 356.24M | 347.61M | 294.1M | 267.98M | 238.79M | 218.65M | 171.4M | 155.81M | 131.65M | 116.55M | 92.42M | 79.83M |
| Other Current Liabilities | 126.46M | 220.06M | 90.2M | 77.94M | 76.46M | 80.85M | 65.8M | 57.81M | 62.3M | 63.8M | 52.32M | 47.47M | 46.98M | 42.01M | 45.07M | 39.79M | 43.85M | 70.56M | 42.69M | 37.58M |
| Current Ratio | 1.96x | 1.98x | 2.04x | 5.14x | 3.20x | 2.86x | 3.37x | 3.51x | 3.51x | 3.50x | 3.89x | 3.84x | 4.40x | 4.74x | 5.35x | 5.45x | 6.85x | 6.77x | 8.51x | 5.72x |
| Quick Ratio | 1.96x | 1.98x | 2.04x | 5.14x | 3.20x | 2.86x | 3.37x | 3.51x | 3.51x | 3.50x | 3.89x | 3.84x | 4.40x | 4.74x | 5.35x | 5.45x | 6.85x | 6.77x | 8.51x | 5.72x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | 14.12 | 6.01 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.23B | 2.23B | 2.22B | 3.47B | 1.47B | 1.46B | 1.45B | 1.44B | 1.43B | 1.43B | 1.41B | 1.42B | 1.57B | 1.57B | 1.56B | 1.56B | 1.56B | 1.27B | 1.24B | 444.36M |
| Long-Term Debt | 1.98B | 2.16B | 1.97B | 3.26B | 1.29B | 1.29B | 1.29B | 1.29B | 1.28B | 1.28B | 1.28B | 1.28B | 1.44B | 1.44B | 1.44B | 1.43B | 1.43B | 1.15B | 1.14B | 401.43M |
| Capital Lease Obligations | 182.11M | 182.03M | 173.43M | 144.79M | 134.52M | 128.27M | 121.37M | 112.51M | 113.02M | 113.49M | 101.67M | 106.99M | 108.8M | 107.62M | 104.02M | 105.35M | 114.62M | 109.04M | 81.11M | 26.94M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 29.06M | -152.69M | 24.16M | 23.93M | 23.98M | 23.63M | 18.34M | 17.73M | 15.33M | 15.54M | 11.48M | 11.02M | 10.85M | 10.53M | 9.61M | 9.1M | 8.96M | 7.11M | 6.42M | 11.27M |
| Total Liabilities | 4.64B | 4.58B | 4.44B | 4.32B | 2.3B | 2.25B | 2.09B | 2.04B | 2B | 2B | 1.89B | 1.89B | 2.01B | 1.96B | 1.9B | 1.89B | 1.84B | 1.56B | 1.46B | 644.84M |
| Total Debt | 3.52B | 3.7B | 3.5B | 3.46B | 1.48B | 1.46B | 1.45B | 1.44B | 1.44B | 1.44B | 1.42B | 1.46B | 1.58B | 1.58B | 1.57B | 1.57B | 1.57B | 1.29B | 1.25B | 448.39M |
| Net Debt | 2.58B | 2.76B | 2.45B | 1.94B | 1.27B | 1.32B | 1.27B | 1.28B | 1.18B | 1.35B | 1.32B | 1.3B | 1.32B | 1.37B | 1.43B | 1.42B | 1.42B | 979.43M | 629.64M | 200.84M |
| Debt / Equity | 2.31x | 2.54x | 2.60x | 2.79x | 1.04x | 1.40x | 1.49x | 1.63x | 1.80x | 1.88x | 2.03x | 2.27x | 2.42x | 2.53x | 2.64x | 2.70x | 3.05x | 1.59x | 1.46x | 0.56x |
| Debt / EBITDA | 129.47x | 34.02x | 83.38x | - | - | 63.33x | 75.17x | 113.74x | - | 193.40x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 94.82x | 25.34x | 58.31x | - | - | 56.94x | 65.69x | 101.25x | - | 181.69x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -24.02x | -2.64x | 1.64x | -30.03x | -24.47x | -6.50x | -7.95x | -10.44x | -29.25x | -23.14x | -18.58x | -59.43x | -16.29x | -50.25x | -26.23x | -60.26x | -25.34x | -2.53x | -7.87x | -2.81x |
| Total Equity | 1.53B | 1.46B | 1.35B | 1.24B | 1.43B | 1.05B | 973.09M | 881.54M | 797.22M | 763.05M | 699.26M | 641.83M | 652.59M | 623.96M | 593.99M | 580.49M | 515.48M | 815.8M | 853.15M | 801.1M |
| Equity Growth % | 7.07% | 39.47% | 38.43% | 40.63% | 78.86% | 37.11% | 39.16% | 37.35% | 22.16% | 22.29% | 17.72% | 10.57% | 26.6% | -23.51% | -30.38% | -27.54% | -35.89% | -0.14% | 3.23% | -4.13% |
| Book Value per Share | 4.33 | 4.16 | 3.93 | 3.57 | 4.12 | 3.04 | 2.84 | 2.59 | 2.35 | 2.27 | 2.09 | 1.93 | 1.98 | 1.90 | 1.82 | 1.79 | 1.59 | 2.55 | 2.71 | 2.60 |
| Total Shareholders' Equity | 1.53B | 1.46B | 1.35B | 1.24B | 1.43B | 1.05B | 973.09M | 881.54M | 797.22M | 763.05M | 699.26M | 641.83M | 652.59M | 623.96M | 593.99M | 580.49M | 515.48M | 815.8M | 853.15M | 801.1M |
| Common Stock | 352K | 351K | 349K | 348K | 346K | 344K | 342K | 341K | 339K | 337K | 335K | 332K | 330K | 328K | 327K | 325K | 323K | 321K | 318K | 309K |
| Retained Earnings | -1.23B | -1.2B | -1.19B | -1.19B | -1.14B | -1.1B | -1.09B | -1.07B | -1.06B | -1.02B | -995.98M | -972.44M | -877.97M | -839.89M | -793.97M | -751.43M | -687.89M | -680.83M | -603.33M | -495.99M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -5.78M | 12.26M | 14.3M | 16.63M | 3.65M | -4.25M | 15.95M | -1.32M | -900K | 1.98M | -4.15M | -6.31M | -6.14M | -11.9M | -17.3M | -16.08M | -12.74M | -2.65M | -211K | -44K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |