Akamai Technologies (AKAM) FY2019 results: revenue $2.9 billion, up 6.6% on the year
Akamai Technologies Inc. (AKAM) reported revenue of $2.9 billion for fiscal 2019, the year ended 31 December 2019, up 6.6% on the year before. Net income was $478 million, up 60.2%, and diluted earnings per share $2.90. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$2.9 billion
+6.6% on the year
FY2012FY2019
Operating margin
19.0%
13.4% a year earlier
FY2012FY2019
Net income
$478 million
+60.2% on the year
FY2012FY2019
Diluted EPS
$2.90
+64.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,894
2,714
2,489
+6.6%
Cost of revenue
988
953
876
+3.6%
Gross profit
1,906
1,761
1,613
+8.2%
Gross margin
65.9%
64.9%
64.8%
Research and development
261
246
222
+6.2%
Operating income
549
362
314
+51.4%
Operating margin
19.0%
13.4%
12.6%
Interest expense
49.4
43.2
18.8
+14.3%
Pre-tax income
532
343
314
+55.2%
Income tax
53.4
44.7
91.4
+19.3%
Effective tax rate
10.0%
13.0%
29.1%
Net income
478
298
223
+60.2%
Net margin
16.5%
11.0%
8.9%
Diluted EPS
$2.90
$1.76
$1.29
+64.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,058
1,008
801
+5.0%
Capital expenditure
360
218
254
+65.3%
Free cash flow
699
791
547
-11.6%
Free cash flow margin
24.1%
29.1%
22.0%
Cash from investing
-1,668
-507
-460
Cash from financing
-35.7
234
-365
Depreciation and amortisation
441
435
372
+1.4%
Share-based compensation
187
184
164
+1.8%
Buybacks
335
750
361
-55.4%
Diluted shares, weighted
165m
169m
173m
-2.7%
Shares outstanding at period end
162m
163m
170m
-0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,658
3,192
3,362
+14.6%
Debt
1,840
1,561
663
+17.9%
Operating lease liabilities
692
n/a
n/a
Other liabilities
817
709
624
+15.2%
Total liabilities and equity
7,007
5,462
4,649
+28.3%
Fixed assets
1,152
911
863
+26.5%
Goodwill
1,600
1,487
1,499
+7.6%
Intangible assets
179
168
201
+6.6%
Investments
1,979
1,065
966
+85.8%
Cash and equivalents
394
1,036
313
-62.0%
Receivables
552
480
461
+15.0%
Other assets
1,151
314
345
+266.1%
Total assets
7,007
5,462
4,649
+28.3%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.