TTM
-9.3%
YoY change
−0.29pp
Trough year (2018)
-44.1%
Peak year (2017)
-7.2%
Latest annual
-9.6%
Operating Margin history chart for Cloudflare (NET) from 2016 to 2025
Latest: -9.6%
Operating Margin change chart for Cloudflare (NET) from 2016 to 2025
Latest: −0.29pp
Operating Margin history table for Cloudflare (NET) from 2016 to 2025
| 2025 | -9.6% | -0.29pp | ||
| 2024 | -9.3% | +5.03pp | ||
| 2023 | -14.3% | +6.33pp | ||
| 2022 | -20.6% | -1.18pp | ||
| 2021 | -19.5% | +5.32pp | ||
| 2020 | -24.8% | +12.84pp | ||
| 2019 | -37.6% | +6.45pp | ||
| 2018 | -44.1% | -36.85pp | ||
| 2017 | -7.2% | +12.87pp | ||
| 2016 | -20.1% | — |
- 2025-9.6%-0.29pp
- 2024-9.3%+5.03pp
- 2023-14.3%+6.33pp
- 2022-20.6%-1.18pp
- 2021-19.5%+5.32pp
- 2020-24.8%+12.84pp
- 2019-37.6%+6.45pp
- 2018-44.1%-36.85pp
- 2017-7.2%+12.87pp
- 2016-20.1%—
Operating Margin values are taken from Cloudflare's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Cloudflare (NET)
According to Cloudflare's latest reported financial statements, the company's latest reported operating margin is -9.3%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Cloudflare (NET) most recent annual operating margin stands at -9.56% (2025) – contracted 0.3 percentage points year-over-year.
-7.21% stands as the all-time-high annual operating margin, posted in 2017, against a low of -44.06% during 2018.
Cloudflare Operating Margin by Year
Cloudflare Operating Margin 2025: -9.6%
Cloudflare operating margin in 2025 was -9.56%, contracted 0.3 percentage points from 2024.
Cloudflare Operating Margin 2024: -9.3%
2024's operating margin for Cloudflare came in at -9.27%, expanded 5.0 percentage points from 2023.
Cloudflare Operating Margin 2023: -14.3%
Cloudflare posted operating margin of -14.30% in 2023, expanded 6.3 percentage points from 2022.
Cloudflare Operating Margin 2022: -20.6%
In 2022, Cloudflare reported operating margin of -20.63%, contracted 1.2 percentage points from 2021.
Cloudflare Operating Margin 2021: -19.5%
Cloudflare operating margin in 2021 was -19.45%.
See more financial history for Cloudflare (NET).
Sector peers by Operating Margin
Technology peers of Cloudflare (NET), ranked by their latest operating margin
| 64.0% | |
| 53.2% | |
| 48.5% | |
| 46.8% | |
| 43.7% | |
| 34.8% | |
| 32.6% | |
| 11.7% |
- 64.0%
- 53.2%
- 46.8%
- 43.7%
- 34.8%
- 32.6%
- 11.7%
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