Cloudflare Inc (NET) is overvalued and Oracle Corp (ORCL) is undervalued.
Against our estimates of intrinsic value, ORCL trades at the wider discount: a margin of safety of +24%, against -758% for NET.
Values as of the 22 Sept 2026 close.
A 6.2x revenue multiple, discounted for its losses, values the shares at $41.13; the price of $353.00 is 758% above that value.
Leak Score 46/100 on 7 of 12 signals
A 9.6x revenue multiple, adjusted for growth and margin, values the shares at $195.39; the price of $149.20 is 24% below that value.
Leak Score 53/100 on 9 of 12 signals
| Metric | NET | ORCL |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $353.00 | $149.20 |
| Intrinsic value | $41.13 | $195.39 |
| Margin of safety | -758% | +24% |
| Leak Score | 46/100 (7/12) | 53/100 (9/12) |
| Market cap | $125.7B | $451.1B |
| Revenue growth, 5 years | 38.1% | 10.7% |
| Operating margin | -7.9% | 34.2% |
| Net margin | -8.2% | 26.1% |
| Return on equity | -14.4% | 41.6% |
| Debt to equity | 2.18 | 2.53 |
| P/E | — | 23.4x |
| Forward P/E | 211.0x | 13.5x |
| P/B | 77.6x | 7.3x |
| Dividend yield | — | 1.3% |