Cloudflare
NET · Internet Services & Infrastructure
$325.73
7.3%Verisign
VRSN · Internet Services & Infrastructure
$300.32
1.4%The short version
- Cloudflare is the larger business, with $2.2B of revenue in fiscal 2025 against $1.7B for Verisign.
- Cloudflare grew revenue faster (29.9%, against 6.4%).
- Verisign kept more of each dollar of sales as operating profit (67.7% operating margin, against −9.6% operating margin).
- Verisign turned more of its sales into free cash flow (64.5% FCF margin, against 13.3% FCF margin).
| Latest fiscal year | NET · FY25 | VRSN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $115.4B | $27.1B |
| Revenue | $2.2B | $1.7B |
| Free cash flow | $288M | $1.1B |
| Net income | −$102M | $826M |
| Growth | ||
| Revenue growth | 29.9% | 6.4% |
| 5-year growth | 38.1% | 5.5% |
| Share count change | 2.1% | −4.5% |
| Profitability | ||
| Gross margin | 74.5% | 88.2% |
| Operating margin | −9.6% | 67.7% |
| Net margin | −4.7% | 49.8% |
| FCF margin | 13.3% | 64.5% |
| Return on capital | −29.7% | — |
| Return on equity | −8.2% | — |
| Balance sheet | ||
| Net debt | −$836M | $1.2B |
| Net debt / EBITDA | — | 1.1x |
| Dividends and buybacks | $0.0M | $1.1B |
| Valuation & quality | ||
| P/E | — | 32.3x |
| Piotroski F-score | 3 | 8 |
FY16
NET —
VRSN $1.1B
FY17
NET $135M
VRSN $1.2B
FY18
NET $193M
VRSN $1.2B
FY19
NET $287M
VRSN $1.2B
FY20
NET $431M
VRSN $1.3B
FY21
NET $656M
VRSN $1.3B
FY22
NET $975M
VRSN $1.4B
FY23
NET $1.3B
VRSN $1.5B
FY24
NET $1.7B
VRSN $1.6B
FY25
NET $2.2B
VRSN $1.7B
NET
VRSN
FY16
NET —
VRSN 60.1%
FY17
NET −7.2%
VRSN 60.7%
FY18
NET −44.1%
VRSN 63.2%
FY19
NET −37.6%
VRSN 65.5%
FY20
NET −24.8%
VRSN 65.2%
FY21
NET −19.5%
VRSN 65.3%
FY22
NET −20.6%
VRSN 66.2%
FY23
NET −14.3%
VRSN 67.0%
FY24
NET −9.3%
VRSN 68.0%
FY25
NET −9.6%
VRSN 67.7%
NET
VRSN
FY16
NET —
VRSN $666M
FY17
NET −$15.9M
VRSN $653M
FY18
NET −$68.8M
VRSN $661M
FY19
NET −$82.2M
VRSN $714M
FY20
NET −$73.5M
VRSN $687M
FY21
NET −$28.3M
VRSN $754M
FY22
NET −$20.0M
VRSN $804M
FY23
NET $140M
VRSN $808M
FY24
NET $195M
VRSN $875M
FY25
NET $288M
VRSN $1.1B
NET
VRSN
FY16
NET —
VRSN —
FY17
NET —
VRSN —
FY18
NET —
VRSN —
FY19
NET —
VRSN —
FY20
NET −65.6%
VRSN —
FY21
NET —
VRSN —
FY22
NET −56.9%
VRSN —
FY23
NET −37.4%
VRSN —
FY24
NET −28.8%
VRSN —
FY25
NET −29.7%
VRSN —
NET
VRSN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.