Cloudflare annual debt-to-equity ratio
2019
2020
2021
2022
2023
2024
2025
Cloudflare Debt-to-Equity Ratio Growth & History (NET)
Cloudflare's debt-to-equity ratio was 1.53 for fiscal 2025.
View full Cloudflare company overviewCloudflare annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.53 | 0.13 | +9.13% |
| 2024 | 2024-12-31 | 1.40 | −0.48 | −25.64% |
| 2023 | 2023-12-31 | 1.88 | −0.65 | −25.58% |
| 2022 | 2022-12-31 | 2.53 | 0.95 | +60.08% |
| 2021 | 2021-12-31 | 1.58 | 1.05 | +201.17% |
| 2020 | 2020-12-31 | 0.52 | 0.52 | — |
| 2019 | 2019-12-31 | 0.00 | — | — |
Cloudflare quarterly debt-to-equity ratio
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.38 | −1.41 | −50.57% |
| Q1 2026 | 2026-03-31 | 1.46 | 0.43 | +41.26% |
| Q4 2025 | 2025-12-31 | 1.53 | 0.13 | +9.13% |
| Q3 2025 | 2025-09-30 | 1.64 | 0.15 | +10.12% |
| Q2 2025 | 2025-06-30 | 2.79 | 1.16 | +71.13% |
| Q1 2025 | 2025-03-31 | 1.04 | −0.77 | −42.56% |
| Q4 2024 | 2024-12-31 | 1.40 | −0.48 | −25.64% |
| Q3 2024 | 2024-09-30 | 1.49 | −0.54 | −26.54% |
| Q2 2024 | 2024-06-30 | 1.63 | −0.59 | −26.43% |
| Q1 2024 | 2024-03-31 | 1.80 | −0.62 | −25.61% |
| Q4 2023 | 2023-12-31 | 1.88 | −0.65 | −25.58% |
| Q3 2023 | 2023-09-30 | 2.03 | −0.61 | −23.10% |
| Q2 2023 | 2023-06-30 | 2.22 | −0.48 | −17.85% |
| Q1 2023 | 2023-03-31 | 2.42 | −0.63 | −20.69% |
| Q4 2022 | 2022-12-31 | 2.53 | 0.95 | +60.08% |
| Q3 2022 | 2022-09-30 | 2.64 | 1.18 | +80.43% |
| Q2 2022 | 2022-06-30 | 2.70 | 2.14 | +382.44% |
| Q1 2022 | 2022-03-31 | 3.05 | 2.51 | +463.50% |
| Q4 2021 | 2021-12-31 | 1.58 | 1.05 | +201.17% |
| Q3 2021 | 2021-09-30 | 1.46 | 0.95 | +186.82% |
| Q2 2021 | 2021-06-30 | 0.56 | 0.06 | +12.96% |
| Q1 2021 | 2021-03-31 | 0.54 | 0.47 | +653.69% |
| Q4 2020 | 2020-12-31 | 0.52 | 0.52 | — |
| Q3 2020 | 2020-09-30 | 0.51 | 0.51 | +1020359.08% |
| Q2 2020 | 2020-06-30 | 0.50 | — | — |
| Q1 2020 | 2020-03-31 | 0.07 | — | — |
| Q4 2019 | 2019-12-31 | 0.00 | — | — |
| Q3 2019 | 2019-09-30 | 0.00 | — | — |
Cloudflare debt-to-equity ratio trends
Over the last five fiscal years, Cloudflare's debt-to-equity ratio increased from 0.52 to 1.53, a change of 1.00. The latest reported quarter, Q2 2026, shows 1.38.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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