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Cloudflare, Inc. balance sheet

At the end of fiscal 2025, Cloudflare, Inc. had total assets of $6.04bn, total liabilities of $4.58bn and shareholders' equity of $1.46bn. It held $944m in cash against $3.27bn of debt: net debt of $2.32bn.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents2725139109314204871489441,664
Receivables—25346396149248317382423
Total current assets—1976901,1301,9561,8881,9832,2694,6454,778
Goodwill—441724148148181227376
Total assets—2988311,3812,3722,5882,7603,3016,0366,474
Accounts payable—14111426365410684127
Deferred revenue (current)—173155117219348478684812
Total current liabilities—61841412893985677942,3512,628
Short-term debt—00———————
Total debt0003831,1591,4361,2831,2873,2653,270
Total liabilities—801055641,5561,9641,9972,2554,5774,854
Shareholders' equity−60−1147268178116247631,0461,4591,620
Non-controlling interests and other (assets − liabilities − equity)—332————————
Net debt (negative = net cash)−27−25−1392748451,2321,1961,1402,3221,606

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Cloudflare, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cloudflare, Inc.