Company / Operating Margin
Cloudflare, Inc. Operating Margin History
FY2017-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
-9.6%
FY2025
5-year range
-20.6% / -9.3%
FY2021-FY2025
Trend
-3.1%
vs FY2024
Sector context
#220 of 284
Information Technology
What the data says
Cloudflare, Inc.'s operating margin of -9.6% is lower than 77% of companies in the Information Technology sector (FY2025). Operating Margin has fluctuated over the past 9 years, ranging from -44.1% in FY2018 to -7.2% in FY2017.
Based on SEC 10-K filings.
-9.6% in FY2025 with a 5-year CAGR of +15.2%.
Improved from -14.3% to -9.6% over the past 2 years.
Information Technology sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +11.1pp
- 5-Year Change
- +15.2pp
- 10-Year Change
- -
Sector benchmark
Bottom 23% in Information TechnologyTop 77% of 284This company -9.6% Sector average -212.2%
▼
+95.5% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 3.1% year-over-year.
- Currently 202.7pp above the Information Technology sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2018.
Company context
Key Data Points
- Altman Z-Score 0.49 (distress zone, below 1.8 threshold)
- Negative profit margin: -5.1%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | -9.6% | -3.1% |
| FY2024 | -9.3% | +35.2% |
| FY2023 | -14.3% | +30.7% |
| FY2022 | -20.6% | -6.1% |
| FY2021 | -19.4% | +21.5% |
| FY2020 | -24.8% | +34.1% |
| FY2019 | -37.6% | +14.6% |
| FY2018 | -44.1% | -511.1% |
| FY2017 | -7.2% | - |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026