Cloudflare, Inc. (NET) vs Spotify Technology S.A. (SPOT)
A side-by-side comparison of Cloudflare, Inc. and Spotify Technology S.A. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 14, 2026. Differences are shown without an overall score or investment verdict.
Different business models: NET is classified in Technology; SPOT is classified in Communication Services. Margin, capital intensity, and valuation differences should be interpreted in that sector context.
NET
Cloudflare, Inc.
$315.67TechnologyDelayed quote: Aug 14, 2026, 3:59 PM EDT
SPOT
Spotify Technology S.A.
$512.82Communication ServicesDelayed quote: Aug 14, 2026, 4:00 PM EDT
Total return — NET vs SPOT
growth of $100 · dividends reinvested · last 7yNET +1737.9% (+51.6%/yr)SPOT +277.5% (+20.9%/yr)NET compounded faster over this window
NET SPOT
NET vs SPOT: by the numbers
- •NET is the larger company ($112.04B vs $105.43B market cap).
- •SPOT is profitable (18.49% net margin) while NET runs a net loss (-8.21%).
- •NET grew revenue faster over the past five years (36.49% vs 15.47% CAGR).
Metrics side by side
Valuation
| Metric | NET | SPOT |
|---|---|---|
| P/E ratio | N/A | 31.08 |
| Forward P/E | 276.28 | 40.00 |
| P/S ratio | 46.66 | 4.95 |
| P/B ratio | 72.36 | 10.86 |
| EV / EBITDA | N/A | 30.55 |
| FCF yield | 0.39% | 3.66% |
Profitability
| Metric | NET | SPOT |
|---|---|---|
| Gross margin | 72.58% | 32.79% |
| Operating margin | -14.11% | 14.65% |
| Net margin | -8.21% | 18.49% |
| ROE | -12.73% | 40.58% |
| ROIC | -4.10% | 21.05% |
Growth (annualized)
| Metric | NET | SPOT |
|---|---|---|
| Revenue CAGR (5Y) | 36.49% | 15.47% |
| FCF CAGR (5Y) | N/A | 66.34% |
| Total return CAGR (5Y) | 22.13% | 18.70% |
Frequently asked
- Which has grown faster, NET or SPOT?
- Over the past five years, NET grew revenue faster — NET at a 36.49% CAGR versus SPOT at 15.47%.
- Is NET or SPOT more profitable?
- SPOT runs the higher net margin — NET at -8.21% versus SPOT at 18.49%.
- How have NET and SPOT total returns compared?
- Over the past 5 years, NET delivered 22.13% and SPOT delivered 18.70% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Spotify Technology P/E ratioCloudflare ROESpotify Technology ROECloudflare operating marginSpotify Technology operating marginCloudflare revenue growthSpotify Technology revenue growthCloudflare free cash flowSpotify Technology free cash flow
Cloudflare & Spotify Technology appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified August 14, 2026.