It looks like Cloudflare generates $633mm operating cash flow a year, up 5% for TTM from 2025 [1]. I’m surprised that’s supporting a $95bn market cap.
now that they have most of the internet corralled I don't see why they won't start charging for bandwidth
How does that compare to other tech companies?
As an example, Palantir has a similar cash flow / market cap ratio. I didn't check many others.