Akamai Technologies Inc. (AKAM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.58	$1.59	+0.6%	—	$1.1B	—
Q1 26	$1.6	$1.61	+0.6%	—	$1.1B	—
Q4 25	$1.75	$1.84	+5.1%	—	$1.1B	—
Q3 25	$1.64	$1.86	+13.4%	—	$1.1B	—
Q2 25	$1.53	$1.73	+13.1%	—	$1B	—
Q1 25	$1.57	$1.7	+8.3%	—	$1B	—
Q4 24	$1.52	$1.66	+9.2%	—	$1B	—
Q3 24	$1.59	$1.59	0.0%	—	$1B	—
Q2 24	$1.53	$1.58	+3.3%	—	$979.6M	—
Q1 24	$1.61	$1.64	+1.9%	—	$987M	—
Q4 23	$1.61	$1.69	+5.0%	—	$995M	—
Q3 23	$1.5	$1.63	+8.7%	—	$965.5M	—
Q2 23	$1.41	$1.49	+5.7%	—	$935.7M	—
Q1 23	$1.32	$1.4	+6.1%	—	$915.7M	—
Q4 22	$1.27	$1.37	+7.9%	—	$927.8M	—
Q3 22	$1.22	$1.26	+3.3%	—	$881.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.11	—	—	$4.2B	—
FY24	—	$3.34	—	—	$4B	—
FY23	—	$3.59	—	—	$3.8B	—
FY22	—	$3.29	—	—	$3.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.3B	$2.5B	$2.7B	$2.9B	$3.2B	$3.5B	$3.6B	$3.8B	$4B	$4.2B
YoY change	+6.85%	+6.01%	+9.06%	+6.6%	+10.5%	+8.23%	+4.49%	+5.4%	+4.7%	+5.44%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.3B	2.5B	2.7B	2.9B	3.2B	3.5B	3.6B	3.8B	4B	4.2B
Cost of revenue	809.1M	875.8M	953.5M	987.6M	1.1B	1.3B	1.4B	1.5B	1.6B	1.7B
Gross profit	1.5B	1.6B	1.8B	1.9B	2.1B	2.2B	2.2B	2.3B	2.4B	2.5B
Gross margin	65.5%	64.8%	64.9%	65.9%	64.6%	63.3%	61.7%	60.4%	59.4%	58.9%
Research & development	167.6M	222.4M	246.2M	261.4M	269.3M	335.4M	391.4M	406M	470.9M	513.6M
Selling, general & administrative	799.8M	888M	982.8M	947.5M	966.7M	919M	984.1M	1.1B	1.1B	1.2B
Operating expenses	967.4M	1.1B	1.2B	1.2B	1.2B	1.3B	1.4B	1.5B	1.6B	1.7B
Operating income	477.8M	392.5M	416.1M	578M	701.7M	807.2M	711M	703.4M	636.4M	628.2M
Operating margin	20.4%	15.8%	15.3%	20%	21.9%	23.3%	19.7%	18.5%	15.9%	14.9%
Non-operating income, net	-7.5M	-77.4M	-56.7M	-30.5M	-45.6M	-22.3M	-45.2M	-78.4M	-122.5M	-65.9M
Pretax income	466.4M	314.2M	343.1M	532.5M	616.1M	728.2M	658M	652.5M	587M	602.4M
Income tax	145.6M	91.4M	44.7M	53.4M	45.9M	62.6M	126.7M	106.4M	82.1M	150.4M
Net income	320.7M	222.8M	298.4M	478M	557.1M	651.6M	523.7M	547.6M	504.9M	452M
Net margin	13.7%	8.95%	11%	16.5%	17.4%	18.8%	14.5%	14.4%	12.7%	10.7%
EBITDA	830.6M	783.6M	874.4M	1.1B	1.2B	1.4B	1.3B	1.3B	1.4B	1.4B
EPS	1.81	1.27	1.78	2.94	3.43	4.01	3.29	3.59	3.34	3.11
Diluted EPS	1.79	1.26	1.76	2.9	3.37	3.93	3.26	3.52	3.27	3.07

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	965.5M	995M	987M	979.6M	1B	1B	1B	1B	1.1B	1.1B	1.1B	1.1B
Cost of revenue	383.1M	393.4M	394.7M	402.9M	408.8M	414.4M	418.9M	426.5M	429.5M	452.5M	471.3M	485.9M
Gross profit	582.4M	601.6M	592.2M	576.7M	595.9M	605.6M	596.2M	617M	625.1M	642.4M	602.3M	613.8M
Gross margin	60.3%	60.5%	60%	58.9%	59.3%	59.4%	58.7%	59.1%	59.3%	58.7%	56.1%	55.8%
Research & development	105.9M	109.2M	116.9M	113.4M	120.3M	120.2M	123.5M	125.8M	124.7M	139.5M	141.6M	148.8M
Selling, general & administrative	262.7M	272.6M	268.9M	273.4M	275.5M	283.1M	272.3M	290.5M	288.5M	303.2M	302.4M	335.4M
Operating expenses	368.7M	381.8M	385.9M	386.8M	395.9M	403.3M	395.9M	416.4M	413.2M	442.7M	444M	484.2M
Operating income	180.9M	185.1M	167.4M	151.6M	157.7M	159.7M	155M	155.8M	166M	151.3M	113.9M	83.9M
Operating margin	18.7%	18.6%	17%	15.5%	15.7%	15.7%	15.3%	14.9%	15.7%	13.8%	10.6%	7.63%
Non-operating income, net	-8M	-6M	-205K	-4.5M	-100.2M	-17.6M	5.6M	-9.8M	-3.8M	-57.8M	-1.2M	-6.5M
Pretax income	179.4M	196.2M	188.3M	166.8M	73.8M	158.1M	173.4M	151.9M	173.2M	103.9M	122M	100M
Income tax	20.3M	35.1M	12.8M	35.1M	15.9M	18.2M	50.2M	48.3M	33M	18.8M	15.7M	20.6M
Net income	160.5M	161.2M	175.4M	131.7M	57.9M	139.9M	123.2M	103.6M	140.2M	85.1M	106.3M	79.4M
Net margin	16.6%	16.2%	17.8%	13.4%	5.76%	13.7%	12.1%	9.93%	13.3%	7.77%	9.9%	7.22%
EBITDA	336.2M	354.9M	352M	333.8M	331.4M	350.3M	354.6M	338M	355.3M	357.1M	313.4M	294.8M
EPS	1.06	1.07	1.16	0.86	0.38	0.93	0.83	0.72	0.98	0.59	0.73	0.55
Diluted EPS	1.04	1.03	1.11	0.86	0.38	0.91	0.82	0.71	0.97	0.58	0.71	0.52

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	11.7B	11.2B	10.2B	14.1B	17.1B	19B	13.4B	18B	14.5B	12.7B	15.7B
Enterprise value	11.5B	11.1B	9.9B	15.2B	18.7B	20.8B	15.5B	21.7B	17.5B	17.2B	22.4B
Shares outstanding	174.9M	171.6M	167.3M	162.7M	162.5M	162.7M	159.1M	152.5M	151.4M	145.4M	145.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	36.4	50.1	34.3	29.4	30.6	29.2	25.6	33	28.7	28.1	40
P/S	4.97	4.48	3.76	4.86	5.33	5.5	3.71	4.74	3.63	3.01	3.67
P/B	3.62	3.32	3.2	3.84	4.01	4.2	3.08	3.93	2.97	2.55	3.34
EV/EBITDA	13.8	14.2	11.3	14.4	15.5	15.1	11.9	16.6	12.8	12.2	20.7
EV/Sales	4.88	4.46	3.64	5.25	5.86	6.01	4.28	5.7	4.39	4.08	5.17
Earnings yield	2.75%	2%	2.92%	3.4%	3.27%	3.42%	3.9%	3.03%	3.49%	3.56%	2.5%
FCF yield	4.76%	3.46%	5.9%	3.53%	2.83%	4.51%	6.09%	3.43%	5.76%	5.51%	4.53%
PEG	—	—	—	—	—	—	—	—	—	—	-1.69

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	65.5%	64.8%	64.9%	65.9%	64.6%	63.3%	61.7%	60.4%	59.4%	58.9%	55.8%
Operating margin	20.4%	15.8%	15.3%	20%	21.9%	23.3%	19.7%	18.5%	15.9%	14.9%	7.63%
Net margin	13.7%	8.95%	11%	16.5%	17.4%	18.8%	14.5%	14.4%	12.7%	10.7%	9.51%
ROE	9.95%	6.63%	9.35%	13.1%	13.1%	14.4%	12%	11.9%	10.4%	9.08%	8.92%
ROA	7.33%	4.79%	5.46%	6.82%	7.17%	7.86%	6.31%	5.53%	4.87%	3.94%	2.52%
ROIC	10.9%	8.4%	12.6%	10.9%	11%	11.7%	8.93%	7.12%	6.91%	4.98%	3.95%
Return on tangible assets	19.8%	17.8%	13.9%	13.9%	14.1%	19.5%	27.7%	17.5%	19.3%	11.8%	5.45%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.5	2.95	2.09	3.22	2.54	2.43	2.41	2.16	1.23	2.36	1.64
Quick ratio	3.5	2.95	2.09	3.22	2.54	2.43	2.41	2.16	1.23	2.36	1.64
Debt / equity	0.2	0.2	0.49	0.73	0.65	0.63	0.73	0.99	0.95	1.14	1.97
Debt / assets	0.15	0.14	0.29	0.38	0.36	0.35	0.38	0.46	0.45	0.49	0.62
Net debt / EBITDA	-0.24	-0.06	-0.38	1.08	1.39	1.29	1.6	2.81	2.22	3.2	4.53
Interest coverage	26	17.7	8.94	11.8	9.91	11.1	60.3	37.8	22.6	20.6	15.8
Effective tax rate	31.2%	29.1%	13%	10%	7.45%	8.59%	19.3%	16.3%	14%	25%	17.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	13.4	14.5	16.2	17.8	19.7	21.3	22.7	25	26.4	28.9	29.9
EPS (basic)	1.81	1.27	1.78	2.94	3.43	4.01	3.29	3.59	3.34	3.11	3.11
EPS (diluted)	1.79	1.26	1.76	2.9	3.37	3.93	3.26	3.52	3.27	3.07	2.76
Book value per share	18.4	19.6	19.1	22.5	26.2	27.8	27.4	30.1	32.2	34.2	33.1
FCF per share	3.18	2.25	3.6	3.05	2.97	5.28	5.13	4.05	5.51	4.81	4.1
Cash per share	4.79	4.15	11.3	9.45	6.76	6.63	6.95	5.67	10.5	8.16	23.3
Capex per share	1.03	1.48	1.3	2.21	3.17	2.02	1.52	3	2.58	2.14	2.12

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	7.71%	10.2%	8.02%	12.4%	16.1%	9.5%	6.67%	12%	9.78%	7.41%	7.55%
Capex / operating cash flow	22.3%	31.9%	22.4%	34.7%	41.7%	23.7%	18.9%	32.5%	25%	20.5%	22.5%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$965.5M	$995M	$987M	$979.6M	$1B	$1B	$1B	$1B	$1.1B	$1.1B	$1.1B	$1.1B
YoY change	+9.48%	+7.25%	+7.78%	+4.69%	+4.06%	+2.5%	+2.85%	+6.52%	+4.97%	+7.35%	+5.76%	+5.38%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	837M	711.9M	1.9B	1.5B	1.1B	1.1B	1.1B	864.4M	1.6B	1.2B
Receivables	261M	320M	337.4M	396.2M	473.5M	502M	490.2M	516.2M	508.9M	577.9M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.3B	1.3B	2.5B	2.2B	1.9B	1.9B	2B	1.8B	2.6B	2.3B
Property, plant & equipment	801M	862.5M	910.6M	1.9B	2.3B	2.5B	2.4B	2.7B	3B	3.8B
Goodwill & intangibles	2.8B	3.4B	3.3B	3.6B	3.8B	4.9B	6.4B	6.8B	7.8B	7.6B
Total assets	4.4B	4.6B	5.5B	7B	7.8B	8.3B	8.3B	9.9B	10.4B	11.5B
Accounts payable	76.1M	80.3M	99.1M	138.9M	118.5M	109.9M	145.4M	146.9M	130.4M	125.1M
Short-term debt	—	—	686.6M	139.5M	154.8M	175.7M	196.1M	222.9M	1.4B	336.6M
Total current liabilities	374.6M	456.7M	1.2B	693.3M	758.2M	790.3M	818.9M	836M	2.1B	967.5M
Long-term debt	640.1M	662.9M	874.1M	2.5B	2.6B	2.7B	3B	4.3B	3.2B	5.3B
Total liabilities	1.1B	1.3B	2.3B	3.3B	3.5B	3.6B	3.9B	5.3B	5.5B	6.5B
Shareholders' equity	3.2B	3.4B	3.2B	3.7B	4.3B	4.5B	4.4B	4.6B	4.9B	5B
Total debt	640.1M	662.9M	1.6B	2.7B	2.8B	2.9B	3.2B	4.5B	4.6B	5.7B
Net debt	315.9M	349.5M	524.2M	2.3B	2.4B	2.3B	2.6B	4B	4.1B	4.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	939.3M	864.4M	1.7B	1.6B	1.7B	1.6B	1.3B	966.6M	1.1B	1.2B	930.4M	3.4B
Receivables	514.4M	516.2M	503.5M	499.1M	492.5M	508.9M	552.5M	560.5M	546.9M	577.9M	665.1M	741.8M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.9B	1.8B	2.6B	2.6B	2.6B	2.6B	2.4B	2B	2.2B	2.3B	2.1B	4.7B
Property, plant & equipment	2.7B	2.7B	2.8B	2.9B	3B	3B	3.1B	3.3B	3.3B	3.8B	4.1B	4.3B
Goodwill & intangibles	6.6B	6.8B	6.7B	7.6B	7.5B	7.8B	7.7B	7.7B	7.6B	7.6B	7.6B	7.5B
Total assets	9.6B	9.9B	9.9B	10.1B	10.2B	10.4B	10B	10.5B	10.8B	11.5B	11.6B	15.1B
Accounts payable	144.5M	146.9M	134.7M	124.5M	106.6M	130.4M	155.9M	146.6M	190M	125.1M	151.4M	273.4M
Short-term debt	205.1M	222.9M	232.7M	1.4B	1.4B	1.4B	1.4B	271.5M	281.3M	336.6M	369.1M	2.1B
Total current liabilities	810.5M	836M	808.9M	1.9B	2B	2.1B	2B	880.5M	950.3M	967.5M	1B	2.8B
Long-term debt	4.3B	4.3B	4.3B	3.2B	3.3B	3.2B	3.2B	5B	4.9B	5.3B	5.5B	7.3B
Total liabilities	5.3B	5.3B	5.3B	5.3B	5.4B	5.5B	5.4B	880.5M	950.3M	967.5M	1B	10.3B
Shareholders' equity	4.3B	4.6B	4.6B	4.8B	4.8B	4.9B	4.6B	4.5B	4.7B	5B	4.9B	4.7B
Total debt	4.5B	4.5B	4.6B	4.6B	4.7B	4.6B	4.6B	5.3B	5.2B	5.7B	5.9B	9.3B
Net debt	4B	4B	4.1B	4.2B	4.1B	4.1B	3.5B	4.4B	4.3B	4.7B	5.2B	7.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	320.7M	222.8M	298.4M	478M	557.1M	651.6M	523.7M	547.6M	504.9M	452M
Depreciation & amortization	334.3M	372.3M	434.5M	440.7M	478.4M	550.6M	592.8M	570.8M	648.4M	708.6M
Stock-based compensation	144.5M	164.3M	183.8M	187.1M	197.4M	202.8M	217.2M	328.5M	393.4M	459.4M
Change in working capital	-27.2M	-16.3M	-7.8M	-123.3M	-44.5M	-44.6M	14.8M	-72.1M	11.4M	-80.8M
Operating cash flow	811.2M	796.7M	970.2M	1B	1.2B	1.4B	1.3B	1.4B	1.6B	1.5B
Capital expenditure	-180.9M	-254.1M	-217.6M	-359.7M	-514.3M	-329M	-241.3M	-457.9M	-390.4M	-311.7M
Investing cash flow	-334.1M	-298.5M	-318.4M	-1.5B	-825.4M	-430.6M	-405.3M	-1.6B	-503.8M	-33M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-373.8M	-361.2M	-750M	-334.5M	-193.6M	-522.3M	-608M	-654M	-557.5M	-800M
Financing cash flow	-419.3M	-420.7M	51.1M	-967.9M	-283.4M	-621.6M	-815.6M	200.2M	-741.1M	-981.3M
Net change in cash	57.8M	77.5M	702.9M	-1.4B	125.7M	337.9M	58M	31.4M	314.9M	504.5M
Free cash flow	555.5M	386.2M	602.6M	496.2M	483.1M	859.3M	816.4M	618.4M	833.9M	699.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	160.5M	161.2M	175.4M	131.7M	57.9M	139.9M	123.2M	103.6M	140.2M	85.1M	106.3M	79.4M
Depreciation & amortization	148.6M	147.6M	156.2M	158.5M	165.7M	167.9M	174M	175.5M	176.6M	182.5M	183.8M	185.5M
Stock-based compensation	87M	92.1M	93.3M	98.5M	102.6M	99M	112M	112.8M	115.4M	119.2M	128.7M	146.3M
Change in working capital	-60M	-23M	26.7M	3.9M	58M	-77.2M	-36.8M	18.3M	-7.6M	-54.7M	-57.2M	-92.7M
Operating cash flow	333.6M	371.5M	444.8M	410.1M	425.1M	279.8M	407.5M	459.1M	441.8M	366.6M	312.5M	326.3M
Capital expenditure	-133.5M	-70.4M	-93.8M	-91M	-112.8M	-92.9M	-117.8M	-78.2M	-82.2M	-73M	-90.2M	-80.8M
Investing cash flow	-1.1B	-252.3M	-71.6M	-214.1M	-43.9M	-174.2M	955.1M	-538.1M	-255.6M	-234.7M	-217.8M	-2.1B
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-113.2M	-54.9M	-125.4M	-127.8M	-165.8M	-138.4M	-500M	-300M	0	0	-205.9M	-409.9M
Financing cash flow	756.2M	-70.2M	-236.3M	-168.4M	-181.8M	-154.6M	-572.4M	-933.3M	-12.5M	-15.3M	-313.3M	-1.3B
Net change in cash	-10.2M	48.9M	137M	27.6M	199.4M	-49.1M	790.2M	-1B	173.7M	116.6M	-218.6M	-3.1B
Free cash flow	161.8M	255.3M	178.1M	267.4M	207.4M	180.9M	55.2M	235.4M	246.8M	161.9M	120.7M	100.5M

Akamai Technologies Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement