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Akamai Technologies (AKAM) stock

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NASDAQ: AKAM Nasdaq Internet Services & Infrastructure Next results ~November 5, 2026

C+ Fundamentals grade

Akamai Technologies, founded in 1998, provides cloud and internet infrastructure services that help global enterprises build, secure and speed up their applications and digital experiences. Its offerings run on a widely distributed network comprising more than 4,300 edge points-of-presence across over 130 countries and roughly 700 cities, integrated with around 1,200 network partners.

The business is organised around three core areas. Security includes web application firewalls, bot management, DDoS and DNS protection, API security and network segmentation through products such as the Akamai Guardicore Platform and Firewall for AI. Cloud computing supplies compute, storage and networking services for developers building distributed, low-latency applications, including edge AI inference. Delivery covers web and mobile performance tools and media distribution, such as video streaming and software delivery.

Akamai sells to enterprises and government agencies, including the US Departments of Defense, Labor, Transportation and the Treasury, through a direct sales force and channel partners across the Americas, Europe, the Middle East and Asia-Pacific. It employs over 11,000 people in more than 30 countries, with roughly 65% based outside the United States.

Based on Akamai Technologies's 10-K filed February 20, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$84

Cash-flow model

Base case. Range ~$56–$120 across our lower- and higher-growth cases (0.8%–10.8% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 2% above our base value.

Price used: $85.77, November 3, 2026

Akamai Technologies valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 11 selling0 purchases and 34 sales by directors and officers, last 12 monthsInsider trades
  • Funds412 adding, 380 cuttingOf 77 active managers that changed their stake, 32 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Akamai Technologies files

Where Akamai Technologies stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $4.32bn, up 5.9% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 22.1% from 23.9% a year earlier. Operating margin narrowed to 10.5% from 12.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $92.84 a share, against a share price of $89.69. At that price, our model says the market is pricing in about 5.1% a year of cash-flow growth for five years, close to the 4.5% a year revenue growth it has delivered.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Akamai Technologies's trailing-twelve-month revenue grew 5.9% year on year, with a free-cash-flow margin of 22.1%. Where it stands out: operating margin of 10.5% ranks 4 of 33 internet services & infrastructure companies we cover. Where it lags: days sales outstanding of 81 days ranks 13 of 14 internet services & infrastructure companies we cover.

Our discounted-cash-flow model values the business at ~$84 per share in the base case (~$56–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Balance sheet growing far ahead of sales: Total assets grew 43% year over year while revenue grew 6% — the balance sheet is expanding 37 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 22.1% of revenue turned into free cash flow, against a median of 16.2% for internet services & infrastructure companies we cover.
  • Shrinking share count. Diluted shares fell 1.2% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Volatile shares. Over the past year the shares showed annualised volatility of 63% and a beta of 1.5 against the S&P 500.
  • Insiders selling. 11 insiders sold $17M of stock over the past 365 days and none bought (58% under pre-set trading plans).
  • Below peers: days sales outstanding. Days sales outstanding of 81 days ranks 13 of 14 internet services & infrastructure companies we cover (median 48 days).
  • Heavily shorted. 15.3% of the shares available to trade are sold short (3.0 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 5.4% over 90 days.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$1.59 against an average estimate of $1.58: beat by 0.8%
Revenue
$1.10bn, up 5.4% on a year earlier
Share reaction
-9.6% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
revenue $1,105m to $1,130m (Three Months Ending September 30, 2026); revenue $4,445m to $4,530m (Year Ending December 31, 2026)
Next report
November 5, 2026; average EPS estimate $1.67

Akamai Technologies' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.1%
  • 1 week-13.9%
  • 1 month-21.3%
  • This year-0.6%
  • 1 year+15.1%
  • 5 years-21.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.3B
Operating margin
10.5%
Net margin
9.5%
EPS (TTM, diluted)
$2.76

Growth

Revenue growth
+5.9%
Change in growth rate
−0.3 pts
Share count change
−1.2%

Cash

Free cash flow (TTM)
$956M
FCF margin
22.1%
Stock pay % of revenue
11.8%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Akamai Technologies valuation models and calculator

What the price is pricing in

The share price implies about 9.6% a year of cash-flow growth for five years.That is faster than the 4.5% a year revenue growth Akamai Technologies has delivered.

  • Priced in9.6%
  • Last 12 months5.9%
  • 3 years a year5.7%
  • 5 years a year4.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($85.80, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$84
Price used
$85.80close November 3, 2026
Implied change
▼ 2%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Akamai Technologies's free cash flow after stock-based pay with after-tax interest added back ($644M, FY2026 Q2 TTM), growing 10.7% and 9.6% in the next two years (forecasts, guidance and its record), then back to 5.8% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$56–~$120 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Akamai Technologies's free cash flow after stock-based pay ( $644M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Akamai Technologies as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.02 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$84 ~$56–$120 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$85–$200 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$42 ~$29–$64 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$43 ~$37–$50 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$72 ~$42–$110 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Akamai Technologies with Internet Services & Infrastructure in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −31%
  • Revenue growth 5 points higher ▲ +41%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▼ −9%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $35$59$89$130$182$251
8.5% $20$37$59$88$126$174
10% $11$24$41$63$92$129

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$52.63$66.68$65.04$61.08$86.38$104.99$117.04$84.30$118.35$95.65$87.25$86.69
Market value$9.5bn$11.8bn$11.2bn$10.3bn$14.2bn$17.3bn$19.4bn$13.5bn$18.4bn$14.8bn$12.8bn$12.9bn
+ Net debt (− = net cash)$329m$316m$350m$524m$1.4bn$1.6bn$1.4bn$1.7bn$3.0bn$3.0bn$3.2bn$6.1bn
Enterprise value$9.8bn$12.1bn$11.6bn$10.9bn$15.7bn$18.9bn$20.8bn$15.3bn$21.4bn$17.8bn$16.0bn$19.0bn
Multiples
Price / sales 4.3x5.0x4.5x3.8x4.9x5.4x5.6x3.7x4.8x3.7x3.0x3.0x
Price / earnings 29.5x36.6x50.4x34.6x29.7x31.1x29.8x25.8x33.6x29.2x28.4x31.4x
Price / free cash flow 19.7x17.0x20.5x13.1x20.3x24.8x18.0x13.1x20.7x13.1x12.7x13.5x
EV / EBITDA 12.8x15.1x16.9x13.6x15.8x16.6x15.6x12.0x17.7x15.1x12.5x16.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

77 /100

Strong moat

How hard Akamai Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.4% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 63.3%, moving by 2.8 percentage points (standard deviation) across 10 years.

  • Durability 13 / 20

    Operating margin has been a median 17.6%; its worst year was 9.5%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 24.9% of revenue.

  • Discipline 14 / 20

    The diluted share count fell 10.4% over five years; stock-based pay has been a median 6.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (82 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $1.1bn and EPS of $1.67 (range $1.60 to $1.76) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.64 −7% $4.5bn +7%
Next $6.84 +3% $5.2bn +16%

Next year's EPS estimate has moved −5.4% in 90 days, across 24 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.2% on 90 days ago. In the last 30 days, 2 analysts raised Akamai Technologies's forecast and 13 cut it.

Consensus EPS forecast Akamai Technologies, last 90 days
$6.60 $6.80 $7.00 $7.20 $7.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.72 Current fiscal year, 60 days ago: $6.70 Current fiscal year, 30 days ago: $6.64 Current fiscal year, 7 days ago: $6.64 Current fiscal year, Now: $6.64 $6.64 Next fiscal year, 90 days ago: $7.23 Next fiscal year, 60 days ago: $7.17 Next fiscal year, 30 days ago: $6.85 Next fiscal year, 7 days ago: $6.85 Next fiscal year, Now: $6.84 $6.84

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.72$7.23
60 days ago $6.70$7.17
30 days ago $6.64$6.85
7 days ago $6.64$6.85
Now $6.64$6.84

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.58 $1.59 +0.8%
Mar 2026 $1.60 $1.61 +0.3%
Dec 2025 $1.75 $1.84 +5.1%
Sept 2025 $1.64 $1.86 +13.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Revenue Year Ending December 31, 2026 $4,445m to $4,530m
    “Revenue (in millions) $ 1,105 $ 1,130 $ 4,445 $ 4,530” source
  • Revenue Three Months Ending September 30, 2026 $1,105m to $1,130m
    “Revenue (in millions) $ 1,105 $ 1,130 $ 4,445 $ 4,530” source
  • Non-GAAP net income per diluted share Year Ending December 31, 2026 $6.40 to $7.05 Non-GAAP
    “Non-GAAP net income per diluted share * $ 1.60 $ 1.80 $ 6.40 $ 7.05” source
  • Non-GAAP net income per diluted share Three Months Ending September 30, 2026 $1.60 to $1.80 Non-GAAP
    “Non-GAAP net income per diluted share * $ 1.60 $ 1.80 $ 6.40 $ 7.05” source
  • Non-GAAP operating margin Year Ending December 31, 2026 25% to 26% Non-GAAP
    “Non-GAAP operating margin * 24 % 26 % 25 % 26 %” source
  • Non-GAAP operating margin Three Months Ending September 30, 2026 24% to 26% Non-GAAP
    “Non-GAAP operating margin * 24 % 26 % 25 % 26 %” source
Show 4 more items
  • Non-GAAP tax rate Year Ending December 31, 2026 19% to 19% Non-GAAP
    “Non-GAAP tax rate* 19 % 19 % 19 % 19 %” source
  • Shares used in non-GAAP per diluted share calculations Year Ending December 31, 2026 150m to 150m Non-GAAP
    “Shares used in non-GAAP per diluted share calculations * (in millions) 150 150 150 150” source
  • Non-GAAP tax rate Three Months Ending September 30, 2026 19% to 19% Non-GAAP
    “Non-GAAP tax rate* 19 % 19 % 19 % 19 %” source
  • Shares used in non-GAAP per diluted share calculations Three Months Ending September 30, 2026 150m to 150m Non-GAAP
    “Shares used in non-GAAP per diluted share calculations * (in millions) 150 150 150 150” source

How earlier guidance turned out

  • Revenue, Three Months Ending June 30, 2026 guided $1,075m to $1,100m Within range: $1,100m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Akamai Technologies's revenue by +10.7% next year and +9.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+12.3%, weight 57%) , management guidance (+12.3%, weight 18%) and the company's own record (+5.8%, weight 25%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1563%
Hold833%
Sell14%

Monthly trend

  1. Oct 2026411824
  2. Sep 2026510824
  3. Aug 2026510925
  4. Jul 2026311925

Counts of recommendations published by analysts covering Akamai Technologies, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.3%
of tradable shares
Days to cover
3.03
at average volume
Short interest, 1 month
−0%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.1%
of shares
Employees
11,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +15.4%

$75.10 on October 31, 2025 to $86.69

ThenNowEffect
Revenue (last 12 months) $4.1bn $4.3bn +5.9%
Net margin 10.4% 9.5% −8.6%
P/E multiple 26.6x 31.4x +17.8%
Share count 151m 149m +1.2%

Biggest factor: p/e multiple.

Last 3 years −20.1%

$108.50 on November 3, 2023 to $86.69

ThenNowEffect
Revenue (last 12 months) $3.7bn $4.3bn +18.1%
Net margin 13.1% 9.5% −27.2%
P/E multiple 35.5x 31.4x −11.5%
Share count 157m 149m +5.1%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AKAM+12%−28%+40%−19%−9%−1%
Industry peers (median)+13%−81%+46%−15%−12%−30%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AKAM75%33%75%42%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AKAM−22%−36%−23%−33%−33%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 47% from February 9, 2024 to April 8, 2025. Getting back needed a 88% gain, reached on May 8, 2026, 395 days after the low.

Price behaviour

52-week range
$71.97 – $161.14
From 52-week high
−46.2%
vs 50-day average
−16.2%
vs 200-day average
−23.0%
Volatility (1 year)
63%
Beta vs S&P 500
1.50

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±12.0%
After a week
5 up, 7 down
typical move ±11.7%
After a month
6 up, 6 down
typical move ±10.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −9.6% +0.5% +2.5% −13.9%
May 7, 2026 +21.1% +0.5% +27.6% +16.3%
February 19, 2026 −13.9% +0.5% −8.6% +1.1%
November 6, 2025 +14.7% −1.0% +21.5% +16.9%
August 7, 2025 −5.3% +0.7% −0.3% +5.9%
May 8, 2025 −8.0% +0.6% −7.7% −5.8%
February 20, 2025 −23.5% −2.1% −22.3% −19.2%
November 7, 2024 −14.6% +1.2% −15.6% −5.3%
August 8, 2024 +9.6% +2.8% +8.9% +2.6%
May 9, 2024 −10.7% +0.7% −5.1% −11.5%
February 13, 2024 −10.4% −0.5% −16.4% −15.0%
November 7, 2023 +2.0% +0.4% +3.4% +6.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Akamai Technologies’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.22× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

AKAM Akamai Technologies Grade C+ $85.67

Own 100 shares, sell the $105 call expiring December 18, 2026 (45 days) for $2.15 a share — $215 per contract.

Bid $2.15, ask $2.60, quoted Tue 3 Nov, 14:16 New York time with AKAM at $85.67. Option prices move with the shares: check the live chain at your broker before trading.

  • If AKAM ends below $105: you keep your shares and the $215 — 2.5% extra on the position, 20.4% a year at that pace.
  • If it ends above $105: your shares are sold at $105, a total return of 25.1% including the premium — at or above our value of ~$84.
$2.1k $0 −$1.7k Break-even $83.52 Our value $84.00 Price $85.67
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$215
Annualised
20.4%
Break-even
$83.52
Max gain
$2,148
Chance of selling
~24%

Results are expected around November 5, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $75.00 put and sell the $105 call, both expiring December 18, 2026 (45 days).

  • Net cost of $1.85 a share ($185 per contract of 100 shares).
  • Worst case at expiry: -14.6%, if the shares fall below $75.00 (-12.5% from today).
  • Best case at expiry: +20.4%, if the shares rise above $105 (+22.6%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $84.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Akamai Technologies in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Akamai Technologies
$3.6B $3.8B $4B $4.2B $4.4B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.7B Revenue (TTM), FY23 Q4: $3.8B Revenue (TTM), FY24 Q1: $3.9B Revenue (TTM), FY24 Q2: $3.9B Revenue (TTM), FY24 Q3: $4B Revenue (TTM), FY24 Q4: $4B Revenue (TTM), FY25 Q1: $4B Revenue (TTM), FY25 Q2: $4.1B Revenue (TTM), FY25 Q3: $4.1B Revenue (TTM), FY25 Q4: $4.2B Revenue (TTM), FY26 Q1: $4.3B Revenue (TTM), FY26 Q2: $4.3B $4.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.7B
FY23 Q4 $3.8B
FY24 Q1 $3.9B
FY24 Q2 $3.9B
FY24 Q3 $4B
FY24 Q4 $4B
FY25 Q1 $4B
FY25 Q2 $4.1B
FY25 Q3 $4.1B
FY25 Q4 $4.2B
FY26 Q1 $4.3B
FY26 Q2 $4.3B
Revenue growth, TTM YoY Akamai Technologies
3% 4% 5% 6% 7% 8% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 4.2% Revenue growth, TTM YoY, FY23 Q4: 5.4% Revenue growth, TTM YoY, FY24 Q1: 7.0% Revenue growth, TTM YoY, FY24 Q2: 7.3% Revenue growth, TTM YoY, FY24 Q3: 5.9% Revenue growth, TTM YoY, FY24 Q4: 4.7% Revenue growth, TTM YoY, FY25 Q1: 3.5% Revenue growth, TTM YoY, FY25 Q2: 4.0% Revenue growth, TTM YoY, FY25 Q3: 4.2% Revenue growth, TTM YoY, FY25 Q4: 5.4% Revenue growth, TTM YoY, FY26 Q1: 6.2% Revenue growth, TTM YoY, FY26 Q2: 5.9% 5.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 4.2%
FY23 Q4 5.4%
FY24 Q1 7.0%
FY24 Q2 7.3%
FY24 Q3 5.9%
FY24 Q4 4.7%
FY25 Q1 3.5%
FY25 Q2 4.0%
FY25 Q3 4.2%
FY25 Q4 5.4%
FY26 Q1 6.2%
FY26 Q2 5.9%
Operating margin (TTM) Akamai Technologies
10% 12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 16.6% Operating margin (TTM), FY23 Q4: 16.7% Operating margin (TTM), FY24 Q1: 17.4% Operating margin (TTM), FY24 Q2: 17.2% Operating margin (TTM), FY24 Q3: 14.4% Operating margin (TTM), FY24 Q4: 13.4% Operating margin (TTM), FY25 Q1: 13.0% Operating margin (TTM), FY25 Q2: 12.9% Operating margin (TTM), FY25 Q3: 15.0% Operating margin (TTM), FY25 Q4: 13.5% Operating margin (TTM), FY26 Q1: 12.3% Operating margin (TTM), FY26 Q2: 10.5% 10.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 16.6%
FY23 Q4 16.7%
FY24 Q1 17.4%
FY24 Q2 17.2%
FY24 Q3 14.4%
FY24 Q4 13.4%
FY25 Q1 13.0%
FY25 Q2 12.9%
FY25 Q3 15.0%
FY25 Q4 13.5%
FY26 Q1 12.3%
FY26 Q2 10.5%
FCF margin (TTM) Akamai Technologies
20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 22.6% FCF margin (TTM), FY23 Q4: 23.4% FCF margin (TTM), FY24 Q1: 27.2% FCF margin (TTM), FY24 Q2: 29.1% FCF margin (TTM), FY24 Q3: 30.2% FCF margin (TTM), FY24 Q4: 28.3% FCF margin (TTM), FY25 Q1: 25.0% FCF margin (TTM), FY25 Q2: 23.9% FCF margin (TTM), FY25 Q3: 24.8% FCF margin (TTM), FY25 Q4: 24.0% FCF margin (TTM), FY26 Q1: 25.5% FCF margin (TTM), FY26 Q2: 22.1% 22.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 22.6%
FY23 Q4 23.4%
FY24 Q1 27.2%
FY24 Q2 29.1%
FY24 Q3 30.2%
FY24 Q4 28.3%
FY25 Q1 25.0%
FY25 Q2 23.9%
FY25 Q3 24.8%
FY25 Q4 24.0%
FY26 Q1 25.5%
FY26 Q2 22.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Akamai Technologies took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $4.2B
  2. Other income $35.5M · 0.8%
  3. Cost of revenue $1.7B · 41.1%
  4. Gross profit $2.5B · 58.9%
  5. Research and development $514M · 12.2%
  6. Selling, general and admin $1.2B · 29.3%
  7. Other operating costs $169M · 4.0%
  8. Operating income $567M · 13.5%
  9. Income tax $150M · 3.6%
  10. Net income $452M · 10.7%

Shares of revenue. Source: Akamai Technologies's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 860 1,024 1,159 1,374 1,578 1,964 2,197 2,340 2,503 2,714 2,894 3,198 3,461 3,617 3,812 3,991 4,208 4,323
Gross profit 610 720 705 844 1,067 1,353 1,472 1,531 1,627 1,761 1,906 2,065 2,192 2,233 2,301 2,370 2,481 2,484
EBITDA 346 398 459 519 598 737 766 801 687 797 990 1,137 1,334 1,269 1,208 1,182 1,276 1,184
Operating income 223 254 291 314 414 490 466 467 314 362 549 659 783 676 637 533 567 456
Net income 146 171 201 204 293 334 321 321 223 298 478 557 652 524 548 505 452 411
Diluted EPS $0.78 $0.90 $1.07 $1.12 $1.61 $1.84 $1.78 $1.82 $1.29 $1.76 $2.90 $3.37 $3.93 $3.26 $3.52 $3.27 $3.07 $2.76
Growth (year on year)
Revenue +8.7% +19.1% +13.2% +18.6% +14.8% +24.5% +11.9% +6.5% +7.0% +8.4% +6.6% +10.5% +8.2% +4.5% +5.4% +4.7% +5.4% +5.9%
EBITDA +11.5% +14.9% +15.3% +13.1% +15.4% +23.1% +3.9% +4.6% −14.3% +16.1% +24.2% +14.9% +17.3% −4.9% −4.8% −2.2% +7.9% −2.0%
Operating income +5.3% +13.8% +14.3% +8.2% +31.6% +18.3% −4.8% +0.1% −32.6% +15.3% +51.4% +20.0% +18.9% −13.6% −5.8% −16.3% +6.3% −13.2%
Net income +0.5% +17.3% +17.3% +1.5% +43.9% +13.8% −3.8% −0.2% −30.5% +33.9% +60.2% +16.5% +17.0% −19.6% +4.6% −7.8% −10.5% −3.2%
Diluted EPS −1.3% +15.4% +18.9% +4.7% +43.8% +14.3% −3.3% +2.2% −29.1% +36.4% +64.8% +16.2% +16.6% −17.0% +8.0% −7.1% −6.1% −2.0%
Margins
Gross margin 70.9% 70.4% 60.8% 61.4% 67.6% 68.9% 67.0% 65.4% 65.0% 64.9% 65.9% 64.6% 63.3% 61.7% 60.4% 59.4% 58.9% 57.5%
EBITDA margin 40.2% 38.8% 39.6% 37.7% 37.9% 37.5% 34.8% 34.2% 27.4% 29.4% 34.2% 35.5% 38.5% 35.1% 31.7% 29.6% 30.3% 27.4%
Operating margin 26.0% 24.8% 25.1% 22.9% 26.2% 24.9% 21.2% 19.9% 12.6% 13.4% 19.0% 20.6% 22.6% 18.7% 16.7% 13.4% 13.5% 10.5%
Net margin 17.0% 16.7% 17.3% 14.8% 18.6% 17.0% 14.6% 13.7% 8.9% 11.0% 16.5% 17.4% 18.8% 14.5% 14.4% 12.7% 10.7% 9.5%
Free-cash-flow margin 40.0% 23.8% 27.0% 26.4% 23.8% 23.0% 21.9% 29.5% 21.8% 29.1% 24.1% 21.9% 31.1% 28.6% 23.4% 28.3% 24.0% 22.1%
Cash flow
Cash from operations 424 402 446 530 564 658 793 872 801 1,008 1,058 1,215 1,405 1,275 1,348 1,519 1,519 1,447
Capital spending 81 159 133 167 188 207 312 181 254 218 360 514 329 241 458 390 508 491
Free cash flow 343 243 313 363 376 451 482 691 547 791 699 701 1,076 1,033 891 1,129 1,011 956
Stock-based pay 59 76 61 91 96 112 127 145 164 184 187 197 203 217 328 393 459 510
Free cash flow after stock pay 285 167 252 273 280 339 355 546 383 607 511 503 873 816 562 735 552 446
Balance sheet
Cash 181 232 559 202 334 239 289 324 313 1,036 394 353 537 542 489 518 930 1,480
Total debt 200 — 0 0 0 605 618 640 663 1,561 1,840 1,907 1,976 2,285 3,538 3,546 4,105 7,563
Net debt (negative = net cash) 18 −232 −559 −202 −334 366 329 316 350 524 1,446 1,554 1,439 1,743 3,049 3,028 3,175 6,083
Diluted shares 189m 191m 188m 182m 182m 181m 180m 176m 173m 169m 165m 165m 166m 160m 155m 154m 147m 149m
Returned to shareholders
Buybacks 66 92 324 141 160 269 303 374 361 750 335 194 522 608 654 557 800 616
Total returned 66 92 324 141 160 269 303 374 361 750 335 194 522 608 654 557 800 616

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · June 30, 2026
What it owns · $15.1bn
Short-term assets $4.7bnLonger-term assets $10.4bn
What it owes, and who funded it · $15.1bn
Short-term liabilities $2.8bnLonger-term liabilities $7.5bnShareholders' equity $4.7bn
  • Short-term assets cover short-term liabilities $4.7bn of assets due within a year against $2.8bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $4.7bn short-term assets against $7.5bn of longer-dated liabilities.
  • More cash than debt $1.5bn of cash against $5.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 123% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 44% to 123% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.4bn of operating cash flow against $5.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $456m against $33m of interest.

From Akamai Technologies's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$616M
Returned to shareholders
64%
of free cash flow
Buybacks, last 3 fiscal years
$2B
Diluted share count
−1.2%
year over year
Total shareholder yield
5.0%
dividends 0.0% + buybacks 5.0% of market value
R&D spending
12.8%
of revenue
Days sales outstanding
81 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in internet services & infrastructure
Last 12 months unless stated AKAM GDDY TWLO RXT NET VRSN Median
Revenue, last 12 months $4.3bn $5.2bn $5.8bn $2.7bn $2.5bn $1.7bn $242m
Revenue growth, last 12 months 5.9% 6.4% 19.1% 0.3% 33.5% 6.5% 8.3%
Revenue growth, 3-year average 5.7% 7.3% 12.4% −4.3% 30.6% 5.3% 7.6%
Revenue growth, latest quarter 5.4% 6.0% 19.9% 0.6% 35.9% 5.7% 5.5%
Gross margin 57.5% — 48.6% 17.9% 72.6% 88.6% 49.5%
Operating margin 10.5% 25.7% 6.8% −3.3% −14.1% 67.6% −56.0%
Operating margin, 3-year average 13.5% 22.0% −0.2% −15.7% −11.9% 67.8% −25.3%
Net margin 9.5% 18.6% 21.8% −5.9% −8.2% 49.1% −55.8%
Cash from operations / revenue 33.5% 34.2% 20.3% 3.8% 25.2% 61.3% −10.4%
Free-cash-flow margin 22.1% 33.7% 18.3% 1.5% 12.5% 59.1% −25.9%
Free-cash-flow margin, 3-year average 25.1% 30.9% 16.0% 2.9% 10.9% 58.7% −17.4%
Stock pay / revenue 11.8% 5.6% 10.0% 1.5% 20.2% 4.4% 11.9%
Change in share count −1.2% 36.1% 0.6% 7.1% 2.0% −3.1% 5.2%

Median of all 34 companies we cover in internet services & infrastructure. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

34 internet services & infrastructure companies
Measure Company Peer median Rank
Revenue growth Growth 5.9% 10.1% 20 of 34
Change in growth rate Growth -0.3pp -0.6pp 14 of 34
Gross margin Profitability 57.5% 61.5% 10 of 16
Operating margin Profitability 10.5% -49.3% 4 of 33
Net margin Profitability 9.5% -47.1% 6 of 34
Free-cash-flow margin Cash generation 22.1% 16.2% 5 of 17
Stock pay as % of revenue Cash generation 11.8% 12.4% 15 of 32
Long-term debt as % of assets Balance sheet 38.9% 20.2% 17 of 25
Change in share count Balance sheet -1.2% 5.2% 7 of 26
Days sales outstanding Balance sheet 81 days 48 days 13 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $2.1B 50.8% ▲ 3.1%
Outside the US $2.1B 49.2% ▲ 8.0%

From Akamai Technologies's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$18.9B
Institutions reporting
796
Shares held vs prior quarter
▲ 3.5%
Positions opened / closed
125 / 99

Top buyers and sellers, Q2 2026: 412 institutions bought and 380 sold ; the biggest buyer was Capital World Investors (+4.4M shares) and the biggest seller Nordea Investment Management AB (−1.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Capital World Investors $1.3B 11.2M 7.0% ▲ 65.6%
Blackrock, Inc. $1.2B 10.5M 6.5% ▲ 0.4%
Vanguard Capital Management LLC $1.1B 9.5M 5.9% ▲ 1.2%
Vanguard Portfolio Management LLC $858M 7.3M 4.5% ▼ 3.6%
State Street Corp $683M 5.8M 3.6% ▲ 4.7%
First Trust Advisors LP $562M 4.8M 3.0% ▼ 0.6%
Geode Capital Management, LLC $502M 4.2M 2.7% ▲ 2.7%
Invesco Ltd. $463M 3.9M 2.4% ▲ 12.5%
Bank Of America Corp $422M 3.6M 2.2% ▲ 8.3%
Royal Bank Of Canada $381M 3.2M 2.0% ▲ 167.8%
Dimensional Fund Advisors LP $307M 2.6M 1.6% ▼ 25.0%
Point72 Asset Management, L.P. $304M 2.6M 1.6% ▼ 22.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Akamai Technologies's complete shareholder register. Values are as reported by the filers ; 4 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $17.1M 34 trades by 11 insiders · 58% under pre-set plans
Net ▼ $17.1M net selling
Insider Date Trade Shares Price Value
Salem-Jackson Kim EVP, Chief Marketing Officer September 25, 2026 Sell pre-set plan 2,013 $128.00 $257,664
Sundaram Mani EVP and GM Security September 25, 2026 Sell pre-set plan 7,022 $125.62 $882,104
Joseph Paul C EVP - Global Sales September 15, 2026 Sell pre-set plan 3,100 $105.63 $327,453
Joseph Paul C EVP - Global Sales July 15, 2026 Sell pre-set plan 3,100 $126.77 $392,987
Blumofe Robert Chief Technology Officer June 18, 2026 Sell pre-set plan 243 $129.41 $31,447
Salem-Jackson Kim EVP, Chief Marketing Officer June 10, 2026 Sell pre-set plan 2,300 $135.57 $311,811
Ahola Aaron EVP & General Counsel March 16, 2026 Sell 4,500 $106.27 $478,216
Joseph Paul C EVP - Global Sales March 16, 2026 Sell pre-set plan 83 $108.00 $8,964
Joseph Paul C EVP - Global Sales March 16, 2026 Sell pre-set plan 1,950 $106.73 $208,129
Joseph Paul C EVP - Global Sales March 16, 2026 Sell pre-set plan 2,967 $105.89 $314,163
Karon Adam COO & GM Edge Technology Group March 12, 2026 Sell 17,000 $107.43 $1.8M
Williams Anthony P EVP and CHRO March 11, 2026 Sell 2,745 $104.92 $288,016

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 35 trades and filings

No trades in Akamai Technologies disclosed in the last 12 months; 35 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 19, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Akamai Technologies was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Akamai Technologies in brief

What does Akamai Technologies do?
Akamai Technologies is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.
What is Akamai Technologies's stock ticker?
Akamai Technologies trades under the ticker AKAM on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Akamai Technologies's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Akamai Technologies reported revenue of $4.3B, 5.9% higher than a year earlier, according to its SEC filings.
What is Akamai Technologies's free cash flow?
Akamai Technologies's free-cash-flow margin is 22.1% of revenue over the trailing twelve months, ranking 5 of the 17 internet services & infrastructure companies we cover.
What is Akamai Technologies's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Akamai Technologies's free cash flow after stock-based pay gives ~$84 per share in the base case, and ~$56–$120 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Akamai Technologies's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Capital World Investors, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Akamai Technologies buying back stock, and does it pay a dividend?
Akamai Technologies spent $616M on share repurchases over the trailing twelve months, and its diluted share count fell 1.2% over the year.
What is Akamai Technologies's market cap?
On November 2, 2026, Akamai Technologies's market capitalisation was about $12.9B, with a price-to-earnings ratio of 31.4 and net debt of $6.1B. Market figures come from third-party market data and may be delayed.
How much debt does Akamai Technologies have?
Akamai Technologies's debt-to-equity ratio is 123.3%, from its latest balance sheet (43.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Akamai Technologies's competitors?
In our Internet Services & Infrastructure peer group, the companies closest to Akamai Technologies are Godaddy Inc., Twilio Inc, Rackspace Technology, Inc., Cloudflare, Inc. and Verisign Inc. The side-by-side comparison below sets their revenue, margins and growth against Akamai Technologies's.
Are insiders buying or selling Akamai Technologies stock?
Over the last 12 months, Akamai Technologies's directors and officers reported 0 open-market purchases and 34 sales on Form 4. The insider trading page charts every trade.
When is Akamai Technologies's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Akamai Technologies announces its own schedule.