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Cloudflare vs Nutanix: NET and NTNX compared
Cloudflare is the larger company: $783M of revenue in its latest quarter (Q3 2026) against $757M for Nutanix (Q4 FY26). Cloudflare is growing faster (+39% against +16% a year earlier). Nutanix is more profitable, with an operating margin of 9.2% against -8.7%.
Where the money goes: NET and NTNX
Cloudflare (NET) · Q3 2026
Cloudflare, Q3 2026: revenue $783M (+39% year over year), operating margin -8.7%, net loss $34.1M, operating cash flow $215M. The chart follows the revenue to costs, profit and cash.
Nutanix (NTNX) · Q4 FY26
Nutanix, Q4 FY26: revenue $757M (+16% year over year), operating margin 9.2%, net earnings $1.3B, operating cash flow $315M. The chart follows the revenue to costs, profit and cash.
| Cloudflare (NET) | Nutanix (NTNX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $783M | $757M |
| Revenue growth, Y/Y | +39% | +16% |
| Gross margin | — | 86.0% |
| Operating margin | -8.7% | 9.2% |
| Net earnings | −$34.1M | $1.3B |
| Net margin | -4.4% | 167.7% |
| Operating cash flow | $215M | $315M |
| Free cash flow | $82.1M | $278M |
| Market value | $96.0B | $15.8B |
| P/E | — | 10.5× |
| Analysts’ mean target | $340.58 | $79.27 |
Where the revenue comes from
Nutanix
- Subscription and Circulation: $719M (95%)
- Professional Services: $38.0M (5%)
Questions
Which is bigger, Cloudflare or Nutanix?
Cloudflare is the larger company: $783M of revenue in its latest quarter (Q3 2026) against $757M for Nutanix (Q4 FY26).
Is Cloudflare or Nutanix growing faster?
Cloudflare is growing faster (+39% against +16% a year earlier).
Which is more profitable, Cloudflare or Nutanix?
Nutanix is more profitable, with an operating margin of 9.2% against -8.7%.
More: Cloudflare earnings · how Cloudflare makes money · Nutanix earnings · how Nutanix makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-K filed Sep 18, 2026). Fiscal quarters can end on different dates. Not investment advice.