Cloudflare, Inc.

SWX:NET Stock Report

Market Cap: CHF 83.6b

Cloudflare Valuation

Is NET undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NET when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: NET (CHF249.33) is trading above our estimate of future cash flow value (CHF186.91)

Significantly Below Future Cash Flow Value: NET is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NET?

Key metric: As NET is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NET. This is calculated by dividing NET's market cap by their current revenue.
What is NET's PS Ratio?
PS Ratio41.5x
SalesUS$2.51b
Market CapUS$104.38b

Price to Sales Ratio vs Peers

How does NET's PS Ratio compare to its peers?

The above table shows the PS ratio for NET vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average14.3x
SNOW Snowflake
22.9x19.36%US$111.4b
SHOP Shopify
14.5x19.88%US$189.4b
MDB MongoDB
13.3x14.91%US$33.8b
CRWV CoreWeave
6.4x40.38%US$49.5b
NET Cloudflare
43.5x21.36%US$112.4b

Price-To-Sales vs Peers: NET is expensive based on its Price-To-Sales Ratio (41.5x) compared to the peer average (18.7x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does NET's PS Ratio compare vs other companies in the European IT Industry?

13 CompaniesPrice / SalesEstimated GrowthMarket Cap
NET 41.5xIndustry Avg. 0.8xNo. of Companies33PS00.61.21.82.43+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NET is expensive based on its Price-To-Sales Ratio (41.5x) compared to the European IT industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is NET's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NET PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio41.5x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate NET's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NET forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 249.33
CHF 333.55
+33.78%
20.79%CHF 400.00CHF 160.00n/a31
Aug ’27n/a
CHF 262.26
0%
21.31%CHF 330.00CHF 136.00n/a31
Jul ’27n/a
CHF 243.65
0%
18.02%CHF 305.00CHF 136.00n/a31
Jun ’27n/a
CHF 234.18
0%
18.21%CHF 300.00CHF 135.00n/a31
May ’27n/a
CHF 231.85
0%
18.00%CHF 300.00CHF 135.00n/a31
Apr ’27n/a
CHF 233.47
0%
18.05%CHF 300.00CHF 135.00n/a31
Mar ’27n/a
CHF 231.30
0%
18.66%CHF 300.00CHF 135.00n/a31
Feb ’27n/a
CHF 231.95
0%
21.40%CHF 300.00CHF 117.00n/a30
Jan ’27n/a
CHF 240.01
0%
22.18%CHF 318.00CHF 117.00n/a30
Dec ’26n/a
CHF 242.46
0%
22.40%CHF 318.00CHF 117.00n/a28
Nov ’26n/a
CHF 237.97
0%
22.26%CHF 318.00CHF 117.00n/a29
Oct ’26n/a
CHF 209.01
0%
22.15%CHF 255.00CHF 90.00n/a29
Sep ’26n/a
CHF 209.01
0%
22.15%CHF 255.00CHF 90.00n/a29
Aug ’26n/a
CHF 204.49
0%
23.71%CHF 250.00CHF 90.00n/a29
Jul ’26n/a
CHF 156.14
0%
26.00%CHF 240.00CHF 70.00n/a31
Jun ’26n/a
CHF 144.34
0%
19.96%CHF 200.00CHF 70.00n/a30
May ’26n/a
CHF 139.01
0%
22.56%CHF 200.00CHF 68.00n/a30
Apr ’26n/a
CHF 142.49
0%
21.71%CHF 200.00CHF 68.00n/a30
Mar ’26n/a
CHF 144.02
0%
25.24%CHF 200.00CHF 60.00n/a30
Feb ’26n/a
CHF 109.94
0%
24.02%CHF 150.00CHF 57.00n/a30
Jan ’26n/a
CHF 97.82
0%
20.44%CHF 136.00CHF 57.00n/a30
Dec ’25n/a
CHF 92.92
0%
16.30%CHF 120.00CHF 57.00n/a30
Nov ’25n/a
CHF 91.52
0%
18.62%CHF 135.00CHF 57.00n/a30
Oct ’25n/a
CHF 91.85
0%
17.84%CHF 135.00CHF 57.00n/a29
Sep ’25n/a
CHF 91.92
0%
17.54%CHF 135.00CHF 57.00n/a30
Aug ’25n/a
CHF 90.22
0%
18.91%CHF 135.00CHF 50.00n/a30
US$334.46
Fair Value
8.0% undervalued intrinsic discount
31
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/22 17:22
End of Day Share Price 2026/08/17 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cloudflare, Inc. is covered by 56 analysts. 32 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Shrenik KothariBaird
Saket KaliaBarclays
Mark MoerdlerBernstein