NET Rule of 40
Rule of 40 combines revenue growth and free cash flow margin in one quarterly score.
41
Q3
39
2024
Q4
39
Q1
36
Q2
45
Q3
51
2025
Q4
48
Q1
46
2026
Q2
40
0
Mix
Other NET Charts
More quarter-by-quarter fundamentals for Cloudflare, Inc.
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Revenue
EPS
Free Cash Flow
Gross Margin
FCF Margin
P/E Ratio
Cumulative FCF
Shares Outstanding
Total Assets
Total Debt
Networking & Security Comparison
1 / 3
CSCO · Rule of 40
Q4 FY2026 · latest
46.5✓ Passing
Growth +17.6%
FCF +29.0%
19
Q1
24
Q2
38
Q3
35
FY2025
Q4
27
Q1
20
Q2
33
Q3
47
FY2026
Q4
40
0
Mix
PANW · Rule of 40
Q4 FY2026 · latest
71.2✓ Passing
Growth +34.5%
FCF +36.8%
82
Q1
37
Q2
39
Q3
53
FY2025
Q4
84
Q1
30
Q2
57
Q3
71
FY2026
Q4
40
0
Mix
CRWD · Rule of 40
Q2 FY2027 · latest
51.5✓ Passing
Growth +25.8%
FCF +25.7%
51
Q3
48
FY2025
Q4
45
Q1
46
Q2
46
Q3
52
FY2026
Q4
59
Q1
51
FY2027
Q2
40
0
Mix
Latest Rule of 40: +46 (2026Q2); +10 pts YoY.
Across the 8 quarters from 2024Q3 to 2026Q2, Rule of 40 ranged from +36 in 2025Q2 to +51 in 2025Q4.