Akamai Technologies key statistics and ratios

In fiscal 2025, Akamai Technologies had return on equity of 9.2%, an operating margin of 13.5%, debt equal to 82.5% of equity and a current ratio of 2.36. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Akamai Technologies: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
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%
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%
Return on equity	8.4%	8.7%	9.3%	9.1%	11.8%	12.0%	10.5%	10.0%	6.7%	9.1%	14.0%	14.1%	14.8%	11.8%	12.2%	10.7%	9.2%	8.5%
Return on assets	7.0%	7.7%	8.6%	8.2%	10.6%	9.6%	7.9%	7.5%	4.9%	5.9%	7.7%	7.5%	8.2%	6.4%	6.0%	5.0%	4.1%	3.1%
Asset turnover	0.41	0.46	0.49	0.56	0.57	0.56	0.54	0.55	0.55	0.54	0.46	0.43	0.44	0.44	0.42	0.39	0.39	0.33
Current ratio	2.33	5.91	7.56	3.59	3.91	3.78	3.77	3.50	2.95	2.09	3.22	2.54	2.43	2.41	2.16	1.23	2.36	1.64
Debt to equity	11.5%	—	0.0%	0.0%	0.0%	20.5%	19.5%	19.6%	19.7%	48.9%	50.3%	44.9%	43.6%	52.4%	77.0%	72.7%	82.5%	159.3%
Interest cover (operating income ÷ interest)	78.7x	149.8x	—	—	—	31.7x	25.2x	25.0x	16.7x	8.4x	11.1x	9.5x	10.8x	60.9x	36.0x	19.7x	18.4x	13.7x
Effective tax rate	38.5%	34.7%	34.6%	36.6%	30.0%	30.4%	29.6%	31.2%	29.1%	13.0%	10.0%	7.5%	8.6%	19.3%	16.3%	14.0%	25.0%	17.7%
R&D as % of revenue	5.1%	5.4%	4.5%	5.4%	5.9%	6.4%	6.8%	7.2%	8.9%	9.1%	9.0%	8.4%	9.7%	10.8%	10.7%	11.8%	12.2%	12.8%
Capital spending as % of revenue	9.4%	15.6%	11.5%	12.1%	11.9%	10.5%	14.2%	7.7%	10.2%	8.0%	12.4%	16.1%	9.5%	6.7%	12.0%	9.8%	12.1%	11.4%
Free cash flow ÷ net income	235.4%	142.0%	155.7%	178.1%	128.1%	135.0%	149.9%	215.4%	245.5%	265.0%	146.1%	125.8%	165.1%	197.3%	162.6%	223.5%	223.7%	232.6%
Dividends and buybacks ÷ free cash flow	19.4%	38.0%	103.6%	38.9%	42.7%	59.6%	62.8%	54.1%	66.1%	94.9%	47.9%	27.6%	48.6%	58.8%	73.4%	49.4%	79.1%	64.4%

US$ thousands unless shown otherwise. Fiscal quarters.

Akamai Technologies: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	59.3%	59.4%	58.7%	59.1%	59.3%	58.7%	56.1%	55.8%
Operating margin	7.0%	14.5%	15.2%	14.5%	15.7%	8.7%	10.7%	7.3%
Net margin	5.8%	13.7%	12.1%	9.9%	13.3%	7.8%	9.9%	7.2%
Free-cash-flow margin	27.8%	24.6%	13.1%	30.1%	31.2%	21.5%	19.6%	16.5%
Current ratio	1.33	1.23	1.18	2.31	2.28	2.36	2.06	1.64
Debt to equity	50.0%	49.1%	52.3%	91.8%	86.7%	82.5%	83.7%	123.3%
R&D as % of revenue	12.0%	11.8%	12.2%	12.1%	11.8%	12.7%	13.2%	13.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: AKAM vs GDDY AKAM vs TWLO AKAM vs RXT AKAM vs NET

More: Internet Services & Infrastructure stocks compared, Technology sector, rankings of US companies

Figures from Akamai Technologies's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Akamai Technologies.