What is the 13F Pro Quality Score for NET?

13F Pro ranks Cloudflare, Inc. (NET) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NET's current score at https://13fpro.ai/research/NET (free sign-up required for the full ranking).

Where does 13F Pro source NET data?

All Cloudflare, Inc. fundamentals and ownership data come directly from SEC EDGAR. Cloudflare, Inc. files with the SEC under CIK 1477333. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NET in?

Cloudflare, Inc. (NET) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

How often is NET research updated on 13F Pro?

NET's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Cloudflare, Inc.(NET)Stock Analysis

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13F Pro Quality Score

52.6/100

Rank #1,334 of 2,879 stocksTOP 50%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

87.1/100

Profitability

28.7/100

Balance Sheet

29.9/100

Earnings Quality

30.0/100

Free Cash Flow

68.6/100

Institutional Flow

62.1/100

Revenue Scale

64.1/100

Dilution Risk

8.9/100

NET Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Cloudflare, Inc. (NET), a Technology sector company. 13F Pro's AI-powered ranking engine scores NET at 52.6/100 on a 32-signal composite quality model, placing it at rank #1,334 of 2,879 stocks — the top half of the AI-ranked universe. NET scores in the top quartile across revenue growth (87.1). Areas of concern include profitability (28.7) and balance sheet strength (29.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 8.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Cloudflare, Inc. reports quarterly revenue of $639.8M, net income of $-22.9M, an operating margin of -9.7%. Top institutional holders of NET by reported 13-F value include Capital World Investors, BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. NET trades on the NYSE exchange and files with the SEC under CIK 1477333. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NET daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Cloudflare, Inc. directly from SEC EDGAR. Cloudflare, Inc.'s 13F Pro composite quality score has ranged between 8 and 76 since 2021, currently 52.6 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

Revenue

Q1 2026

$639.8M

Net Income

Q1 2026

$-22.9M

Free Cash Flow

Q1 2026

$93.1M

Operating Margin

Q1 2026

-9.7%

ROIC

Q1 2026

-4.1%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+29.8% YoY

$2.17BFY 2025

FY20 $431.1MFY22 $975.2MFY24 $1.67BFY25 $2.17B

Net Income

-29.8% YoY

$-102.3MFY 2025

FY20 $-119.4MFY22 $-193.4MFY24 $-78.8MFY25 $-102.3M

Operating Income

-33.9% YoY

$-207.2MFY 2025

FY20 $-106.8MFY22 $-201.2MFY24 $-154.8MFY25 $-207.2M

EPS (Diluted)

-26.1% YoY

$-0.29FY 2025

FY20 $-0.40FY22 $-0.59FY24 $-0.23FY25 $-0.29

Total Assets

+82.9% YoY

$6.04BFY 2025

FY20 $1.38BFY22 $2.59BFY24 $3.30BFY25 $6.04B

Total Debt

—FY 2025

FY20 —FY22 —FY24 —FY25 —

Op. Cash Flow

+58.5% YoY

$603.1MFY 2025

FY20 $-17.1MFY22 $123.6MFY24 $380.4MFY25 $603.1M

Metric	FY 2025	FY 2024	FY 2022	FY 2020	FY 2018	FY 2017
Revenue	$2.17B +29.8%	$1.67B +71.2%	$975.2M +126.2%	$431.1M +123.7%	$192.7M +42.8%	$134.9M
Net Income	$-102.3M -29.8%	$-78.8M +59.3%	$-193.4M -62.0%	$-119.4M -36.9%	$-87.2M -711.0%	$-10.7M
Operating Income	$-207.2M -33.9%	$-154.8M +23.1%	$-201.2M -88.4%	$-106.8M -25.8%	$-84.9M -772.5%	$-9.7M
EPS (Diluted)	$-0.29 -26.1%	$-0.23 +61.0%	$-0.59 -47.5%	$-0.40	—	—
Total Assets	$6.04B +82.9%	$3.30B +27.6%	$2.59B +87.4%	$1.38B +362.7%	$298.4M	—
Total Debt	—	—	—	—	$255.0K	—
Operating Cash Flow	$603.1M +58.5%	$380.4M +207.8%	$123.6M +821.6%	$-17.1M +60.4%	$-43.3M -1466.6%	$3.2M

AI Insight: NET Financial Trends

Cloudflare revenue surged 60% from Q2 2024 to Q1 2026, but operating losses deepened sharply, with op loss widening to -$62M in Q1 2026.

• Revenue grew consistently from $401M in Q2 2024 to $640M in Q1 2026, a ~60% cumulative increase over eight quarters.

• Operating cash flow expanded from $75M in Q2 2024 to $190M in Q4 2025, though Q1 2026 dipped to $158M.

• Operating losses widened from -$35M in Q2 2024 to -$62M in Q1 2026, with net loss also deepening to -$23M.

• Equity expanded from $882M in Q2 2024 to $1,527M in Q1 2026, likely reflecting ongoing equity issuance.

⚠ Operating loss hit -$67M in Q2 2025 and remains elevated at -$62M in Q1 2026 — operating leverage not yet materializing.

⚠ Operating cash flow pulled back to $158M in Q1 2026 from a peak of $190M in Q4 2025 — worth monitoring for trend reversal.

⚠ Total debt data is absent across all periods; clarity on leverage profile is needed to assess balance sheet risk fully.

AI Insight: NET Ratio Trends

Cloudflare remains deeply unprofitable with ROIC deteriorating to -16.2% in Q1 2026, reversing a brief Q3 2025 improvement.

• Operating margin worsened from -6.7% in Q3 2025 to -9.7% in Q1 2026, erasing the prior quarter's recovery.

• ROIC swung from -11.1% in Q3 2025 to -16.2% in Q1 2026, the worst single-quarter reading in the dataset.

• NPM briefly approached breakeven at -0.2% in Q3 2025 but retreated to -3.6% in Q1 2026, signaling no durable path to profitability yet.

⚠ Q3 2025's near-zero NPM (-0.2%) appears a one-off; whether that quarterly dynamic recurs is a key profitability inflection to track.

⚠ ROE deepened to -6.0% in Q1 2026 from -0.4% in Q3 2025, indicating rising equity erosion per dollar of shareholder capital.

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Available Research

13F Pro tracks comprehensive data for Cloudflare, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NET

Capital World Investors
$4.7B22,735,569 sh
BlackRock, Inc.
$4.4B21,094,282 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$3.3B16,039,889 sh
BAILLIE GIFFORD & CO
$3.3B15,924,423 sh
MORGAN STANLEY
$3.3B15,883,321 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.8B13,716,196 sh
FMR LLC
$2.8B13,560,451 sh
Capital International Investors
$2.2B10,893,165 sh
STATE STREET CORP
$1.5B7,178,719 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.2B5,993,429 sh

Fund	Value	Shares
Capital World Investors	$4.7B	22,735,569
BlackRock, Inc.	$4.4B	21,094,282
VANGUARD PORTFOLIO MANAGEMENT LLC	$3.3B	16,039,889
BAILLIE GIFFORD & CO	$3.3B	15,924,423
MORGAN STANLEY	$3.3B	15,883,321
VANGUARD CAPITAL MANAGEMENT LLC	$2.8B	13,716,196
FMR LLC	$2.8B	13,560,451
Capital International Investors	$2.2B	10,893,165
STATE STREET CORP	$1.5B	7,178,719
GEODE CAPITAL MANAGEMENT, LLC	$1.2B	5,993,429

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Is NET a good stock to buy?

13F Pro's AI-powered analysis of Cloudflare, Inc. (NET) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NET are available on the NET stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own NET?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NET. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Cloudflare, Inc.'s investment landscape.