Cloudflare vs Verisign
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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 β9.6%).
- Verisign turned more of its sales into free cash flow (64.5% FCF margin, against 13.3%).
| Latest fiscal year | NET Β· FY25 | VRSN Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $115.4B | $27.1B |
| Revenue | $2.2B | $1.7B |
| Free cash flow | $288M | $1.1B |
| Net income | β$102M | $826M |
| Growth | ||
| Revenue growth | 29.9% | 6.4% |
| 5-year growth | 38.1% | 5.5% |
| Share count change | 2.1% | β4.5% |
| Profitability | ||
| Gross margin | 74.5% | 88.2% |
| Operating margin | β9.6% | 67.7% |
| Net margin | β4.7% | 49.8% |
| FCF margin | 13.3% | 64.5% |
| Return on capital | β29.7% | β |
| Return on equity | β8.2% | β |
| Balance sheet | ||
| Net debt | β$836M | $1.2B |
| Net debt / EBITDA | β | 1.1x |
| Dividends and buybacks | $0.0M | $1.1B |
| Valuation & quality | ||
| P/E | β | 32.3x |
| Piotroski F-score | 3 | 8 |
Revenue
FY16
NET β
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
Operating margin
FY16
NET β
VRSN 60.1%
FY17
NET β7.2%
VRSN 60.7%
FY18
NET β44.1%
VRSN 63.2%
FY19
NET β37.6%
VRSN 65.5%
FY20
NET β24.8%
VRSN 65.2%
FY21
NET β19.5%
VRSN 65.3%
FY22
NET β20.6%
VRSN 66.2%
FY23
NET β14.3%
VRSN 67.0%
FY24
NET β9.3%
VRSN 68.0%
FY25
NET β9.6%
VRSN 67.7%
NET
VRSN
Free cash flow
FY16
NET β
VRSN $666M
FY17
NET β$15.9M
VRSN $653M
FY18
NET β$68.8M
VRSN $661M
FY19
NET β$82.2M
VRSN $714M
FY20
NET β$73.5M
VRSN $687M
FY21
NET β$28.3M
VRSN $754M
FY22
NET β$20.0M
VRSN $804M
FY23
NET $140M
VRSN $808M
FY24
NET $195M
VRSN $875M
FY25
NET $288M
VRSN $1.1B
NET
VRSN
Return on capital
FY16
NET β
VRSN β
FY17
NET β
VRSN β
FY18
NET β
VRSN β
FY19
NET β
VRSN β
FY20
NET β65.6%
VRSN β
FY21
NET β
VRSN β
FY22
NET β56.9%
VRSN β
FY23
NET β37.4%
VRSN β
FY24
NET β28.8%
VRSN β
FY25
NET β29.7%
VRSN β
NET
VRSN
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.