• Cloudflare average return on tangible equity for 2023 was -42.79, a 0.28% decline from 2022.
• Cloudflare average return on tangible equity for 2022 was -42.91, a 85.04% decline from 2021.
• Cloudflare average return on tangible equity for 2021 was -23.19, a 31.84% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.