Akamai Technologies vs Cloudflare
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KIRA’s take AI analyst
I put Akamai Technologies and Cloudflare side by side, using each one’s latest annual report. Here is what stands out:
- Akamai Technologies is the larger business, with $4.2B of revenue in fiscal 2025 against $2.2B for Cloudflare, about 1.9 times as much.
- Cloudflare grew revenue faster (29.9%, against 5.4%).
- Akamai Technologies kept more of each dollar of sales as operating profit (13.5% operating margin, against −9.6%).
- Akamai Technologies turned more of its sales into free cash flow (24.0% FCF margin, against 13.3%).
- Akamai Technologies earned a higher return on the capital invested in it (6.3%, against −29.7%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Akamai Technologies
AKAM
7/10
Operating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Cloudflare
NET
3/10
Revenue growth5-year growthGross margin
Side by side
Best in the row
| Latest fiscal year | AKAM FY25 | NET FY25 |
|---|---|---|
| Size | ||
| Market cap | $15.1B | $117.6B |
| Revenue | $4.2B | $2.2B |
| Free cash flow | $1.0B | $288M |
| Net income | $452M | −$102M |
| Growth | ||
| Revenue growth | 5.4% | 29.9% |
| 5-year growth | 5.6% | 38.1% |
| Share count change | −4.7% | 2.1% |
| Profitability | ||
| Gross margin | 59.0% | 74.5% |
| Operating margin | 13.5% | −9.6% |
| Net margin | 10.7% | −4.7% |
| FCF margin | 24.0% | 13.3% |
| Return on capital | 6.3% | −29.7% |
| Return on equity | 9.2% | −8.2% |
| Balance sheet | ||
| Net debt | $2.9B | −$836M |
| Net debt / EBITDA | 2.3x | — |
| Dividends and buybacks | $800M | $0.0M |
| Valuation & quality | ||
| P/E | 35.6x | — |
| Piotroski F-score | 6 | 3 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.