NET P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
NET's p/e ratio is lower than 83% of the last 10 years.
P/E ratio History
NET P/E ratio by year
Yearly range of NET’s p/e ratio from 2019 to 2026. Over the full period it ranged from -1,098.1 to -42.8, averaging -266.1.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | -1,098.1 | -682.2 | -415.7 | -525.7 |
| 2025 | -855.2 | -629.9 | -410.7 | -672.2 |
| 2024 | -475.6 | -237.8 | -126.5 | -475.6 |
| 2023 | -140.5 | -100.6 | -64.9 | -136.4 |
| 2022 | -156.7 | -86.9 | -47.8 | -64.6 |
| 2021 | -310.4 | -225.1 | -156.4 | -158.4 |
| 2020 | -227.4 | -95.6 | -42.9 | -192.4 |
| 2019 | -59.6 | -50.6 | -42.8 | -46.0 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is NET P/E ratio High or Low Right Now?
Cloudflare, Inc.'s P/E ratio is currently -525.7, which is historically cheap relative to its 10-year historical range. The 10-year median P/E ratio for NET is approximately -161.4. See all NET valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.