The extreme precipitation events caused by climate change and the rapid development of urbanization have brought hidden flood risks to the cities. This paper comprehensively considered two major factors of vulnerability of urban flood-bearing and disaster prevention and mitigation (DPAM) capacity and built a comprehensive evaluation index system for urban flood-bearing risks. Secondly, a combined model consisted of composite fuzzy matter-element and entropy weight model was constructed to calculate the comprehensive risk indicator. Finally, the Zhengzhou City was taken as an example, the comprehensive indices of urban flood-bearing risk from 2006 to 2015 were evaluated. The results showed that the comprehensive risk of Zhengzhou City was generally on a slow upward trend, from II level (moderate-risk) in 2006 to III level (secondary high-risk) in 2015, which was mainly due to the mismatch between the rapid development of urbanization and the slow improvement of DPAM capabilities. This paper is expected to provide scientific reference and technical support for urban flood disaster prevention and sponge city construction.