NASDAQ: AKAM
Akamai Technologies
Technology · Services-Business Services, NEC
52-week range
$70.82$165.45
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$17.0B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $11.5B |
| FY2017, ended Dec 31, 2017 | $11.1B |
| FY2018, ended Dec 31, 2018 | $9.97B |
| FY2019, ended Dec 31, 2019 | $14.0B |
| FY2020, ended Dec 31, 2020 | $17.1B |
| FY2021, ended Dec 31, 2021 | $18.8B |
| FY2022, ended Dec 31, 2022 | $13.2B |
| FY2023, ended Dec 31, 2023 | $17.9B |
| FY2024, ended Dec 31, 2024 | $14.4B |
| FY2025, ended Dec 31, 2025 | $12.6B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $17.0B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$4.32B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.35B |
| FY2017, ended Dec 31, 2017 | $2.50B |
| FY2018, ended Dec 31, 2018 | $2.71B |
| FY2019, ended Dec 31, 2019 | $2.89B |
| FY2020, ended Dec 31, 2020 | $3.20B |
| FY2021, ended Dec 31, 2021 | $3.46B |
| FY2022, ended Dec 31, 2022 | $3.62B |
| FY2023, ended Dec 31, 2023 | $3.81B |
| FY2024, ended Dec 31, 2024 | $3.99B |
| FY2025, ended Dec 31, 2025 | $4.21B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $4.32B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $321M | $691M |
| FY2017, ended Dec 31, 2017 | $223M | $547M |
| FY2018, ended Dec 31, 2018 | $298M | $791M |
| FY2019, ended Dec 31, 2019 | $478M | $699M |
| FY2020, ended Dec 31, 2020 | $557M | $701M |
| FY2021, ended Dec 31, 2021 | $652M | $1.08B |
| FY2022, ended Dec 31, 2022 | $524M | $1.03B |
| FY2023, ended Dec 31, 2023 | $548M | $891M |
| FY2024, ended Dec 31, 2024 | $505M | $1.13B |
| FY2025, ended Dec 31, 2025 | $452M | $1.01B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $411M | $956M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.48B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $324M |
| FY2017, ended Dec 31, 2017 | $313M |
| FY2018, ended Dec 31, 2018 | $1.04B |
| FY2019, ended Dec 31, 2019 | $394M |
| FY2020, ended Dec 31, 2020 | $353M |
| FY2021, ended Dec 31, 2021 | $537M |
| FY2022, ended Dec 31, 2022 | $542M |
| FY2023, ended Dec 31, 2023 | $489M |
| FY2024, ended Dec 31, 2024 | $518M |
| FY2025, ended Dec 31, 2025 | $930M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.48B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$7.56B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $640M |
| FY2017, ended Dec 31, 2017 | $663M |
| FY2018, ended Dec 31, 2018 | $1.56B |
| FY2019, ended Dec 31, 2019 | $1.84B |
| FY2020, ended Dec 31, 2020 | $1.91B |
| FY2021, ended Dec 31, 2021 | $1.98B |
| FY2022, ended Dec 31, 2022 | $2.29B |
| FY2023, ended Dec 31, 2023 | $3.54B |
| FY2024, ended Dec 31, 2024 | $3.55B |
| FY2025, ended Dec 31, 2025 | $4.11B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $7.56B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 17.0% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.144M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 173M |
| FY2017, ended Dec 31, 2017 | 170M |
| FY2018, ended Dec 31, 2018 | 163M |
| FY2019, ended Dec 31, 2019 | 162M |
| FY2020, ended Dec 31, 2020 | 163M |
| FY2021, ended Dec 31, 2021 | 160M |
| FY2022, ended Dec 31, 2022 | 156M |
| FY2023, ended Dec 31, 2023 | 152M |
| FY2024, ended Dec 31, 2024 | 150M |
| FY2025, ended Dec 31, 2025 | 145M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 144M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $106M more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $374M | $145M |
| FY2017, ended Dec 31, 2017 | $361M | $164M |
| FY2018, ended Dec 31, 2018 | $750M | $184M |
| FY2019, ended Dec 31, 2019 | $335M | $187M |
| FY2020, ended Dec 31, 2020 | $194M | $197M |
| FY2021, ended Dec 31, 2021 | $522M | $203M |
| FY2022, ended Dec 31, 2022 | $608M | $217M |
| FY2023, ended Dec 31, 2023 | $654M | $328M |
| FY2024, ended Dec 31, 2024 | $557M | $393M |
| FY2025, ended Dec 31, 2025 | $800M | $459M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $616M | $510M |
Revenue (TTM)
$4.32B
+5.9% YoY
Net income (TTM)
$411M
−3.2% YoY
Cash
$1.48B
+74.1% YoY
Total debt
$7.56B
+84.4% YoY
Valuation
At current price- Market Cap
- $13.3B
- P/E
- 32.4×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 3.1×
- Price / Book
- 2.8×
- EV / EBITDA
- 16.4×
Growth
Trailing 12 months- Revenue (TTM)
- $4.32B
- Revenue Growth YoY
- 5.9%
- Revenue CAGR 3Y
- 5.2%
- Revenue CAGR 5Y
- 5.6%
- EPS Growth YoY
- −2.5%
- Net Income Growth YoY
- −3.2%
Profitability
Trailing 12 months- Gross Margin
- 57.5%
- Operating Margin
- 10.5%
- Net Margin
- 9.5%
- FCF Margin
- 22.1%
- Return on Equity
- 8.9%
Earnings
Trailing 12 months- Net Income
- $411M
- EPS (diluted)
- $2.76
- EBITDA
- $1.18B
- Operating Income
- $456M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $1.48B
- Total Debt
- $7.56B
- Net Debt
- $6.08B
- Total Assets
- $15.1B
- Total Liabilities
- $10.3B
- Shareholders' Equity
- $4.75B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.45B
- Capital Expenditure
- $491M
- Free Cash Flow
- $956M
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 0.62
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 5.9% year over year, at $4.32B.
Watch
Operating margin narrowed 2.3 pts in a year, to 10.5%.
Watch
Net debt is 5.1× EBITDA ($6.08B), a heavy load.
Strength
Turns 22.1% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 20, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K49Some concerns
49Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 24, 2025 · Read the filing on EDGAR
- Revenue rose 4.7% to $3.99 billion, but operating income fell 16% to $533 million and net income fell 8% to $505 million.
- Delivery revenue dropped 14.5%, partly because a large social media customer moved traffic in-house; security grew 15.7% and compute grew 25%.
- Security and compute now make up over two-thirds of revenue, helped by the Noname Security purchase in June 2024 and Edgio contracts in December 2024.
- Akamai must repay $1.15 billion of notes in May 2025, and expects cash and operating cash flow to cover this.
Business momentum
Mixed
“Income from operations $ 533,411 $ 637,338 $ 676,274”
Outlook
Cautious
“We have continued to experience revenue declines in our delivery solutions and expect this trend to continue in the near future.”
Financial stress
Low
“we expect our current cash, cash equivalents and marketable securities balances and our forecasted cash flows from operations to be sufficient to meet our foreseeable cash needs for at least the next 12 months”
Tone against the previous report
More negative
Red flags
- Medium
Other
“there is no assurance that we will not be exposed to liability and we may be exposed to significant fines, litigation, indemnification claims, negative publicity, reputational harm”
Positives
Faster-growing security and compute now dominate sales
“Our security and compute solutions represented over two-thirds of our total revenue during 2024.”
Cash from operations rose to about $1.5 billion
“The increase in cash provided by operating activities for 2024 as compared to 2023 was due to increased collections from customers as a result of increased revenue and timing of customer collections.”
New $2 billion share buyback authorized
“In May 2024, our board of directors authorized a new $2.0 billion share repurchase program, effective May 2024 through June 2027, which was in addition to amounts remaining under the January 2022 program.”
Concerns
Delivery revenue decline sped up to 14.5%
“The decrease in delivery solutions revenue for 2024 as compared to 2023, and 2023 as compared to 2022, was due to our customers' economic and geopolitical headwinds which resulted in slower traffic growth rates and the continued downward pricing of renewals.”
Costs of building the compute business are expected to keep rising
“During 2025, we expect our cost of revenue to increase as compared to 2024, in particular our co-location costs and depreciation of network equipment, due to investments in our network to support the continued growth of our compute solutions.”
Restructuring charge rose 68% to $95 million, with job cuts and write-downs
“The restructuring charge included severance and related expenses for certain headcount reductions, as well as impairments of acquired intangible assets and capitalized internal-use software.”
New risks since the previous report
Large social media customer moving away and cutting its spending
“This has negatively impacted revenue growth rates in 2024, and we expect revenue from this customer to decline over the next few years, regardless of whether this legislation is enforced or takes effect.”
US law could bar services to a Chinese app customer
“It is difficult to predict whether the passed legislation will ultimately be enforced and whether any future judicial challenges brought against the Executive Order will be successful.”
New US tariffs could raise costs and strain supply chains
“tariffs imposed by the United States on other countries and any resulting counter-tariffs will likely lead to increasing costs and supply chain disruptions”
Akamai's own AI investments may not succeed against rivals
“Our AI efforts may not be successful and our competitors may incorporate AI into their products more successfully than us, which could impair our ability to compete effectively and adversely affect our financial results.”
$750 million data center lease relies on a customer's sublease
“The lease is for a datacenter with gross payments of approximately $750.0 million over a 12 year lease term.”
Biggest risks named
- Falling delivery revenue from price cuts, slower traffic and customers moving in-house
- Loss of a large social media customer's business and possible US ban exposure
- Heavy compute investment against much larger cloud rivals may not pay off
- Cyberattacks and security weaknesses, including during acquisition integration
- Tariffs, wars and weak economy raising costs and hurting demand
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | −2 | |
| Tone against the previous report | −2 | |
| Financial stress | 0 | |
| Red flags | −1.8 | |
| New risks | −2 | |
| Score | 49 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 20, 2026 | Pro | |||
| 10-K | Feb 24, 2025 | 49 | Mixed | 1 medium | |
| 10-K | Feb 28, 2024 | 53 | Mixed | None | |
| 10-K | Feb 28, 2023 | 30 | Mixed | 1 serious1 minor | |
| 10-K | Feb 28, 2022 | 61 | Improving | 1 minor | |
| 10-K | Feb 26, 2021 | 67 | Strong improvement | 1 minor | |
| 10-K | Feb 28, 2020 | 68 | Strong improvement | None | |
| 10-K | Feb 28, 2019 | 66 | Strong improvement | 2 minor | |
| 10-K | Mar 1, 2018 | 54 | Mixed | 1 medium | |
| 10-K | Feb 28, 2017 | 59 | Improving | 2 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 7, 2026. View filings on SEC EDGAR