Akamai Technologies Inc AKAM

Information TechnologySoftware & IT ServicesUnited States of America

Last close 86.69 USD on Nov 2, 2026, −0.6% year to date

Quant rating

Quant rating C Rank 251 of 389 in Information Technology

Growth D 274 of 389
Valuation A 23 of 389
Quality C 221 of 389
Revisions D 300 of 389
Momentum D 291 of 389

Wall Street consensus Buy (2.16)Average target 151.64 USD +74.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 12.5B
Enterprise value: 16.7B
52-week range: 70.82 – 165.45
3-year range: 68.21 – 165.45
Dividend yield: –
Beta (5 years): 0.66
Shares outstanding: 144M
Next earnings: Nov 5, 2026

About the company

Akamai Technologies, Inc. develops and provides solutions for global enterprises to build, secure and accelerate their applications and digital experiences. It provides solutions in three offerings: security, delivery and other cloud applications and cloud infrastructure services. Security includes solutions that are designed to protect business online by keeping infrastructure, websites, applications, APIs, networks and users safe. Delivery and other cloud applications include delivery solutions that are designed to enable business online, including media delivery and web and mobile performance, and other cloud applications. Cloud infrastructure services include compute and storage solutions, EdgeWorkers product and the compute partner solutions running on its platform. It operates two security platforms: Application Protection and Zero Trust Network Security. LayerX offers a browser security platform that allows enterprises to add protections to their preferred, existing browsers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	4,208	3,991	3,812	3,617	3,461	–
Revenue growth	5.4%	4.7%	5.4%	4.5%	8.2%	5.6%
EPS (basic, normalized)	7.12	6.48	6.20	5.37	5.74	–
EPS growth	9.9%	4.5%	15.5%	−6.4%	–	–
Gross margin	58.9%	59.4%	60.4%	61.7%	63.3%	60.8%
Net margin	10.7%	12.7%	14.4%	14.5%	18.8%	14.2%
ROE	9.2%	10.7%	12.2%	11.8%	14.8%	11.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	3,355
Current ratio	1.64x
Long-term debt (mil)	5,857
Net debt (mil)	4,207
Total equity (mil)	4,749
Net debt / equity	0.89x
Net debt / EBITDA	2.34x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	4,208	+5.4%	4.0x	1,802	+8.4%	9.3x	7.12	+9.9%	12.2x
2026	4,490	+6.7%	3.7x	1,747	−3.0%	9.5x	6.66	−6.4%	13.0x
2027	5,210	+16.0%	3.2x	2,086	+19.4%	8.0x	6.84	+2.6%	12.7x
2028	6,286	+20.7%	2.7x	2,734	+31.0%	6.1x	8.63	+26.2%	10.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	4,490	0.0%	−0.3%	+0.3%	6.66	0.0%	−0.4%	−2.8%
2027	5,210	0.0%	+4.4%	+8.4%	6.84	−0.2%	−4.5%	−10.0%
2028	6,286	+0.1%	+15.7%	+21.2%	8.63	−0.5%	+8.3%	−0.3%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	987	980	1,005	1,020	1,015	1,043	1,055	1,095	1,074	1,100
Sales mean (mil)	989	977	999	1,015	1,010	1,021	1,043	1,076	1,073	1,092
Surprise	−0.2%	+0.2%	+0.6%	+0.5%	+0.5%	+2.2%	+1.1%	+1.7%	+0.1%	+0.7%
EPS reported	1.64	1.58	1.59	1.66	1.70	1.73	1.86	1.84	1.61	1.59
EPS mean	1.60	1.53	1.59	1.51	1.57	1.55	1.64	1.76	1.60	1.57
Surprise	+2.2%	+3.1%	+0.1%	+9.9%	+8.3%	+11.4%	+13.5%	+4.8%	+0.6%	+1.0%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
AKAM Akamai Technologies Inc	12.5B	2.34x	10.7%	2.62x	13.0x	12.7x	9.5x	8.0x
RNG RingCentral, Inc.	6.6B	1.70x	1.7%	35.10x	15.2x	14.0x	10.4x	9.8x
Mean		2.02x	6.2%	18.86x	14.1x	13.4x	10.0x	8.9x
Median		2.02x	6.2%	18.86x	14.1x	13.4x	10.0x	8.9x

Technical analysis

1M−20.4%
3M−24.7%
1Y+15.4%
3Y−17.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Akamai Technologies Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	4,208	3,991	3,812	3,617	3,461	3,198
Cost of revenue	1,728	1,621	1,508	1,384	1,269	1,133
Gross profit	2,481	2,370	2,304	2,233	2,192	2,065
Selling, general & administrative expenses	1,065	1,019	1,000	991	920	950
Research & development	514	471	405	391	335	269
Depreciation/amortization	178	158	133	139	130	125
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	61.3	103	70.0	34.8	24.1	63.1
Other operating expenses	95.5	85.6	59.2	0	0	0
Operating income	567	533	637	676	783	659
Net interest income (expense)	40.0	73.2	27.5	−7.8	−56.7	−40.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−4.6	−19.6	−12.3	−10.4	1.8	−2.5
Net income before taxes	602	587	653	658	728	616
Provision for taxes	150	82.1	106	127	62.6	45.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	0	0	1.5	−7.6	−14.0	−13.1
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	452	505	548	524	652	557
Extraordinary items	–	–	–	–	–	–
Net income	452	505	548	524	652	557
EBIT, normalized	632	639	707	711	807	722
EBITDA, normalized	1,341	1,287	1,278	1,304	1,358	1,200
Basic EPS, normalized	7.12	6.48	6.20	5.37	5.74	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Akamai Technologies Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,187	1,597	864	1,105	1,078	1,098
Receivables	855	765	758	713	708	691
Total inventory	–	–	–	–	–	–
Prepaid expenses	116	98.2	96.3	98.8	74.1	65.7
Other current assets	129	119	86.4	52.3	60.2	75.0
Total current assets	2,287	2,578	1,805	1,970	1,920	1,930
Property, plant & equipment	3,803	3,002	2,735	2,354	2,350	2,272
Goodwill	3,207	3,151	2,850	2,764	2,156	1,674
Intangibles	615	728	536	442	313	235
Long-term investments	733	276	1,431	328	1,096	1,399
Note receivable	–	–	–	–	–	–
Other long-term assets	836	635	543	447	303	254
Total assets	11,480	10,369	9,900	8,303	8,139	7,764
Liabilities
Accounts payable	125	130	147	145	110	119
Payable/accrued	–	–	–	–	–	–
Accrued expenses	603	554	505	487	514	484
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0	1,149	–	–	–	–
Other current liabilities	239	258	184	187	166	155
Total current liabilities	968	2,091	836	819	790	758
Long-term debt	4,105	2,397	3,538	2,285	1,976	1,907
Minority interest	–	–	–	–	–	–
Other liabilities	1,429	1,002	929	839	842	848
Total liabilities	6,502	5,490	5,303	3,943	3,609	3,513
Shareholders' equity
Preferred stock	0	0	–	–	–	–
Common stock	1.5	1.6	1.5	1.6	1.6	1.6
Additional paid-in capital	2,080	2,618	2,223	2,579	3,341	3,665
Retained earnings (accumulated deficit)	3,425	2,973	2,468	1,920	1,257	605
Treasury stock	−435	−558	–	–	–	–
Other equity	−94.8	−156	−95.3	−140	−69.1	−20.2
Total equity	4,977	4,878	4,597	4,360	4,530	4,251
Total liabilities & shareholders' equity	11,480	10,369	9,900	8,303	8,139	7,764

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Akamai Technologies Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	452	505	548	524	652	557
Depreciation, depletion & amortization	709	648	571	593	551	478
Deferred taxes	26.7	−70.3	−23.0	−105	−47.8	−33.8
Non-cash items	505	470	384	269	291	283
Changes in working capital	−173	−34.3	−131	−5.3	−40.5	−69.9
Cash from operations	1,519	1,519	1,348	1,275	1,405	1,215
Investing activities
Capital expenditures	−849	−818	−851	−458	−545	−768
Other investing cash flows	309	19.4	−997	−164	−102	−275
Cash from investing	−541	−799	−1,848	−622	−647	−1,043
Financing activities
Financing cash flow items	204	−184	23.6	−82.6	−99.4	−89.8
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−792	−496	420	−552	−463	−134
Cash from financing	−588	−680	443	−634	−562	−224
Foreign exchange effects	22.2	−12.2	3.9	−12.9	−11.4	10.9
Net change in cash	412	28.6	−52.6	5.3	184	−40.7
Free cash flow	669	701	497	816	859	447

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.