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Content-delivery network operator that has expanded into cloud security and cloud-computing services.
Content-delivery network operator that has expanded into cloud security and cloud-computing services.
Contracts commonly set a committed volume of delivery and security services with usage-based overage. Security and cloud-computing subscriptions are now where growth comes from, as the older delivery business matures; Akamai built them by buying Guardicore in 2021, Linode in 2022 and Noname Security in 2024.
Moat: narrow (scale, installed base, switching costs). Large global edge-server network is costly to replicate; embedded in customer security stacks.
Headquarters: Cambridge, Massachusetts, US · Founded: 1998 · Employees: 11,000
Size Akamai Technologies (AKAM) is a United States Information Technology company (Data Processing Services) with a market value of $11.9B, the 697th largest of 3,117 United States companies the cockpit tracks. Shares closed at $83.09 on 6 Nov 2026.
Performance Over six months the shares fell 43.8%, against +23.3% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 5.9% over the last twelve months (peer median +12.4%); the operating margin is 11.9% (peer median 10.8%).
Valuation It trades at 12.8× forward earnings against a peer median of 21.6× (3rd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.1 points below its cost of capital (6.9% WACC).
Backlog Backlog (remaining performance obligations) was $19.9B at 30 Sep 2026, up 315% on a year earlier — 4.5 years of trailing revenue. Backlog detail →
Credit Akamai Technologies has 4 bonds outstanding ($5.89B).
Short interest Short interest is 13.0% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.32B | $4.21B | $3.99B | $3.81B | $3.62B |
| Revenue growth | — | +5% | +5% | +5% | — |
| Gross profit | $2.31B | $2.30B | $2.21B | $2.17B | $2.10B |
| EBITDA | $1.24B | $1.34B | $1.28B | $1.28B | $1.31B |
| Net income | $411M | $452M | $505M | $548M | $524M |
| Free cash flow | $630M | $699M | $834M | $618M | $816M |
| Capital expenditure | $817M | $820M | $685M | $730M | $458M |
| Total debt | $9.34B | $5.68B | $4.63B | $4.54B | $3.17B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Akamai Technologies AKAM | $11.9B | -44% | +6% | 12% | 12.8× | 17.0% |
| Cloudflare NET | $95.7B | +37% | +34% | -8% | 168.8× | n/a |
| Fastly FSLY | $2.52B | -23% | +20% | -12% | 24.4× | 37.8% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AKAM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.6% | +0.1% | 6th lowest of 20 |
| 6-month return | -43.8% | +23.3% | 6th lowest of 20 |
| Distance from 52-week high | -49.8% | -32.5% | 6th lowest of 20 |
| Revenue growth (TTM) | +5.9% | +12.4% | 6th lowest of 20 |
| Operating margin | 11.9% | 10.8% | 10th highest of 20 |
| Forward P/E | 12.8× | 21.6× | 3rd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 17.0% | 15.4% | 6th least demanding of 11 |
| Growth delivered (Del g) | +5.6% | +8.5% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | +11.4 pp | +5.7 pp | 3rd most demanding of 11 |
| ROIC minus cost of capital | -3.1 pp | -1.1 pp | 9th lowest of 19 |
| EV / EBITDA | 14.4× | 15.7× | 6th cheapest of 13 |
| Net debt / EBITDA | 4.8× | 0.9× | 3rd most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Akamai Technologies AKAM | United States | $11.9B | -44% | +6% | 12% | 12.8× | 17.0% | +5.6% |
| LTM LTM.NS | India | $13.6B | +2% | +15% | 16% | 21.6× | 23.8% | +27.9% |
| GoDaddy GDDY | United States | $13.9B | +26% | +7% | 26% | 12.9× | -2.2% | +8.4% |
| Range Intelligent Computing Technology 300442.SZ | China | $14.1B | -35% | +51% | 36% | 34.4× | n/a | n/a |
| NTNX NTNX | United States | $15.9B | +27% | +12% | 11% | 25.0× | 23.0% | +15.4% |
| Tyler Technologies TYL | United States | $16.7B | +30% | +8% | 16% | 28.1× | 22.9% | +15.9% |
| SWI Capital SWICH.AS | Netherlands | $6.61B | +88% | -33% | -54% | n/a | n/a | n/a |
| ExlService EXLS | United States | $6.51B | +39% | +16% | 14% | 17.0× | 9.4% | +16.8% |
| Hut 8 HUT | United States | $6.49B | -47% | +71% | -89% | n/a | n/a | n/a |
| Wangsu Science & Technology 300017.SZ | China | $5.90B | 0% | 0% | 15% | 49.1× | 27.3% | -3.9% |
| TeraWulf WULF | United States | $5.67B | -51% | +15% | -227% | n/a | n/a | n/a |
| IONOS IOS.DE | Germany | $5.49B | +23% | -34% | 23% | 19.1× | 11.0% | +5.9% |
| Nextdc NXT.AX | Australia | $5.47B | -30% | +16% | -7% | n/a | n/a | n/a |
| Wiwynn 6669.TW | Taiwan | $26.3B | +101% | +84% | 7% | 9.6× | n/a | n/a |
| Applied Digital APLD | United States | $4.70B | -62% | +290% | -24% | n/a | n/a | n/a |
| GDS 9698.HK | Hong Kong | $4.22B | -52% | +13% | 17% | 36.8× | n/a | n/a |
| JOYY, Inc. Sponsored ADR JOYY | United States | $3.98B | +37% | +8% | 2% | 12.9× | 19.8% | +2.1% |
| Dentsu Soken 4812.T | Japan | $3.56B | +31% | +10% | 14% | 30.4× | 0.3% | +8.7% |
| Kyndryl Holdings Incorporation KD | United States | $3.55B | +33% | -1% | 4% | 5.9× | 1.6% | -4.9% |
| Cipher Digital CIFR | United States | $2.99B | -68% | -29% | -172% | n/a | n/a | n/a |
Akamai Technologies has 4 bonds outstanding with $5.89B face value.
Akamai Technologies reported $19.9B of remaining performance obligations at 30 Sep 2026, up 315% from a year earlier and up 162% from the previous quarter. That is 4.5 years of trailing revenue already under contract. Book-to-bill last quarter: 11.96.