NET vs. PS: Cloudflare vs. Pershing Square Stock Comparison
How do Cloudflare (NET) and Pershing Square (PS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Cloudflare (NET) and Pershing Square (PS) both fall under the Software & Services industry group, but NET is classified in IT Services while PS is classified in Software.
Cloudflare (NET) has been public since September 13, 2019 with a meaningfully longer listed history, while Pershing Square (PS) only listed on April 29, 2026 — long-window metrics on the PS side should be interpreted with caution.
| Profile Item | NET | PS |
|---|---|---|
| Name | Cloudflare, Inc. Class A Common Stock | Pluralsight Inc |
| Country/Region | United States | United States |
| GICS Sector | Information Technology | Information Technology |
| GICS Industry Group | Software & Services | Software & Services |
| GICS Industry | IT Services | Software |
| GICS Sub-Industry | Internet Services & Infrastructure | Application Software |
| Market Capitalization | 96.32 billion USD | 20.58 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | Nasdaq |
| Listing Date | September 13, 2019 | April 29, 2026 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | NET | PS |
|---|---|---|
| Total Return (1Y) | 27.13% | -- |
| Total Return (3Y, Annualized) | 68.21% | -- |
| Total Return (5Y, Annualized) | 7.66% | -- |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | NET | PS |
|---|---|---|
| Volatility (1Y, Annualized) | 67.16% | 100.16% |
| Beta (5Y) | 1.34 | 6.25 |
| Max Drawdown (5Y) | -82.58% | -43.14% |
| Avg. Volume (3M) | 3.45M | 428.47K |
Risk-Adjusted Performance
Risk-Return Positioning
Both NET and PS need 1-year volatility and 1-year return to plot risk-return positioning.
Risk-Adjusted Metrics
| Metric | NET | PS |
|---|---|---|
| Sharpe Ratio (1Y) | 0.34 | -- |
| Sortino Ratio (1Y) | 0.48 | -- |
Profitability
ROE (TTM)
Pershing Square (PS) has no ROE value reported for this period; Cloudflare (NET) reports a negative figure of -17.00%, which needs context because negative ROE can reflect losses or negative shareholders’ equity.
NET
Software & Services industry group
-17.00%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- NET
- -17.00%
- Min
- -50.52%
PS
Software & Services industry group
--
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
- PS
- --
Net Margin (TTM)
Both Cloudflare (NET) at -8.75% and Pershing Square (PS) at -20.98% report negative net margin values, usually indicating net losses over the period.
NET
Software & Services industry group
-8.75%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- NET
- -8.75%
- Min
- -33.17%
PS
Software & Services industry group
-20.98%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- PS
- -20.98%
- Min
- -33.17%
Operating Margin (TTM)
Both Cloudflare (NET) at -7.27% and Pershing Square (PS) at -35.45% report negative operating margin values, usually indicating operating losses over the period.
NET
Software & Services industry group
-7.27%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- NET
- -7.27%
- Min
- -30.45%
PS
Software & Services industry group
-35.45%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
- PS
- -35.45%
Profitability Metrics
| Metric | NET | PS |
|---|---|---|
| ROE (TTM) | -17.00% | -- |
| ROA (TTM) | -2.00% | -- |
| Net Margin (TTM) | -8.75% | -20.98% |
| Operating Margin (TTM) | -7.27% | -35.45% |
| Gross Margin (TTM) | 71.90% | 24.74% |
Growth
Revenue Growth
Both companies are growing quickly, but Pershing Square (PS) at 64.66% is the standout with revenue growth above its industry range; Cloudflare (NET) at 29.85% also sits in the top quartile.
EPS Growth
Neither Cloudflare (NET) nor Pershing Square (PS) reports a EPS growth value for this period, so a direct comparison isn't possible.
Growth Metrics
| Metric | NET | PS |
|---|---|---|
| Revenue Growth (YoY) | 29.85% | 64.66% |
| Revenue Growth (3Y CAGR) | 30.51% | -- |
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Short-term liquidity can only be read on one side of this pairing: Cloudflare (NET) shows current ratio of 3.80 against its industry benchmark, while Pershing Square (PS) has no reading this period.
NET
Software & Services industry group
3.80
- Max
- 5.11
- NET
- 3.80
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
PS
Software & Services industry group
--
- Max
- 5.11
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
- PS
- --
Debt / Equity (MRQ)
Pershing Square (PS) at 0.18 is near its industry mid-range for debt-to-equity ratio, while Cloudflare (NET) at 3.21 sits above its benchmark range, pointing to a heavier debt load relative to equity.
NET
Software & Services industry group
3.21
- NET
- 3.21
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- Q1
- 0.07
- Min
- 0.00
PS
Software & Services industry group
0.18
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- PS
- 0.18
- Q1
- 0.07
- Min
- 0.00
Financial Strength Metrics
| Metric | NET | PS |
|---|---|---|
| Current Ratio (MRQ) | 3.80 | -- |
| Debt / Equity (MRQ) | 3.21 | 0.18 |
| Net Debt / EBITDA | -- | 4.35 |
Dividends
Dividend Yield (TTM)
Cloudflare (NET) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Pershing Square (PS) reports a yield of 0.24%, ranking against industry peers normally.
NET
Software & Services industry group
0.00%
- NET
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
PS
Software & Services industry group
0.24%
- PS
- 0.24%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Pershing Square (PS) reports a negative payout ratio of -10.99%, usually because earnings are negative; Cloudflare (NET) pays no dividend (payout 0.00%).
NET
Software & Services industry group
0.00%
- NET
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
PS
Software & Services industry group
-10.99%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
- PS
- -10.99%
Dividend Metrics
| Metric | NET | PS |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.24% |
| Dividend Payout Ratio (TTM) | 0.00% | -10.99% |
Valuation
P/E Ratio (TTM)
Neither Cloudflare (NET) nor Pershing Square (PS) reports a P/E ratio value for this period, so a direct comparison isn’t possible.
NET
Software & Services industry group
--
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
- NET
- --
PS
Software & Services industry group
--
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
- PS
- --
P/S Ratio (TTM)
Investors are paying well above the peer range per dollar of sales for both Cloudflare (NET) at 35.24 and Pershing Square (PS) at 27.11 — each P/S ratio clears its industry’s benchmark range.
NET
Software & Services industry group
35.24
- NET
- 35.24
- Max
- 17.91
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
PS
Software & Services industry group
27.11
- PS
- 27.11
- Max
- 17.91
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
P/B Ratio (MRQ)
Both look rich against book: Pershing Square (PS) at 15.12 sits in the upper P/B ratio quartile, and Cloudflare (NET) at 65.73 prices even higher, above its industry range.
NET
Software & Services industry group
65.73
- NET
- 65.73
- Max
- 16.63
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
PS
Software & Services industry group
15.12
- Max
- 16.63
- PS
- 15.12
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
Valuation Metrics
| Metric | NET | PS |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 35.24 | 27.11 |
| P/B Ratio (MRQ) | 65.73 | 15.12 |
| Free Cash Flow Yield (TTM) | 0.83% | -- |