Akamai Technologies (AKAM) financial statements
Akamai Technologies reported revenue of $4.2B in fiscal 2025, up 6.7% a year over 9 years.
Net income was $452M and the operating margin 13.5%, against 19.9% in 2016.
Free cash flow was $699M, and the company returned $800M in net buybacks.
The diluted share count fell 17% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Akamai Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B | $2.5B | $2.7B | $2.9B | $3.2B | $3.5B | $3.6B | $3.8B | $4.0B | $4.2B |
| Cost of revenue | $809M | $876M | $953M | $988M | $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 |
| Research and development | $168M | $222M | $246M | $261M | $269M | $335M | $391M | $406M | $471M | $514M |
| Selling, general and admin | $868M | $991M | $1.1B | $1.0B | $1.1B | $1.0B | $1.1B | $1.1B | $1.2B | $1.2B |
| Operating income | $467M | $314M | $362M | $549M | $659M | $783M | $676M | $637M | $533M | $567M |
| Interest expense | $19M | $19M | $43M | $49M | $69M | $72M | $11M | $18M | $27M | $31M |
| Pre-tax income | $466M | $314M | $343M | $532M | $616M | $728M | $658M | $653M | $587M | $602M |
| Income tax | $146M | $91M | $45M | $53M | $46M | $63M | $127M | $106M | $82M | $150M |
| Net income | $321M | $223M | $298M | $478M | $557M | $652M | $524M | $548M | $505M | $452M |
| EPS (diluted) | $1.82 | $1.29 | $1.76 | $2.90 | $3.37 | $3.93 | $3.26 | $3.52 | $3.27 | $3.07 |
| Diluted shares | 176M | 173M | 169M | 165M | 165M | 166M | 160M | 155M | 154M | 147M |
| Gross margin | 65.5% | 64.8% | 64.9% | 65.9% | 64.6% | 63.3% | 61.7% | 60.4% | 59.4% | 58.9% |
| Operating margin | 19.9% | 12.6% | 13.4% | 19.0% | 20.6% | 22.6% | 18.7% | 16.7% | 13.4% | 13.5% |
| Net margin | 13.7% | 8.9% | 11.0% | 16.5% | 17.4% | 18.8% | 14.5% | 14.4% | 12.7% | 10.7% |
Balance sheet
Fiscal years, from Akamai Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $837M | $712M | $1.9B | $1.5B | $1.1B | $1.1B | $1.1B | $864M | $1.6B | $1.2B |
| Receivables | $369M | $461M | $480M | $552M | $660M | $676M | $679M | $724M | $728M | $794M |
| Total current assets | $1.3B | $1.3B | $2.5B | $2.2B | $1.9B | $1.9B | $2.0B | $1.8B | $2.6B | $2.3B |
| Property, plant and equipment | $801M | $863M | $911M | $1.2B | $1.5B | $1.5B | $1.5B | $1.8B | $2.0B | $2.3B |
| Goodwill | $1.2B | $1.5B | $1.5B | $1.6B | $1.7B | $2.2B | $2.8B | $2.9B | $3.2B | $3.2B |
| Total assets | $4.4B | $4.6B | $5.5B | $7.0B | $7.8B | $8.1B | $8.3B | $9.9B | $10.4B | $11.5B |
| Total current liabilities | $375M | $457M | $1.2B | $693M | $758M | $790M | $819M | $836M | $2.1B | $968M |
| Total liabilities | $1.1B | $1.3B | $2.3B | $3.3B | $3.5B | $3.6B | $3.9B | $5.3B | $5.5B | $6.5B |
| Shareholders' equity | $3.3B | $3.4B | $3.2B | $3.7B | $4.3B | $4.5B | $4.4B | $4.6B | $4.9B | $5.0B |
| Net debt | -$324M | -$313M | -$1.0B | -$394M | -$353M | -$537M | -$542M | -$489M | -$518M | -$930M |
Cash flow
Fiscal years, from Akamai Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $872M | $801M | $1.0B | $1.1B | $1.2B | $1.4B | $1.3B | $1.3B | $1.5B | $1.5B |
| Capital spending | $316M | $415M | $406M | $562M | $732M | $545M | $458M | $730M | $685M | $820M |
| Free cash flow | $556M | $386M | $603M | $496M | $483M | $859M | $816M | $618M | $834M | $699M |
| Stock-based compensation | $145M | $164M | $184M | $187M | $197M | $203M | $217M | $328M | $393M | $459M |
| Share buybacks (net) | -$374M | -$361M | -$750M | -$335M | -$194M | -$522M | -$608M | -$654M | -$557M | -$800M |
| Free cash flow margin | 23.7% | 15.5% | 22.2% | 17.1% | 15.1% | 24.8% | 22.6% | 16.2% | 20.9% | 16.6% |
Questions
What was Akamai Technologies's revenue in 2025?
$4.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Akamai Technologies generate?
$699M in fiscal 2025 (operating cash flow minus capital spending).
From Akamai Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.