Akamai Technologies (AKAM) FY2020 results: revenue $3.2 billion, up 10.5% on the year
Akamai Technologies Inc. (AKAM) reported revenue of $3.2 billion for fiscal 2020, the year ended 31 December 2020, up 10.5% on the year before. Net income was $557 million, up 16.5%, and diluted earnings per share $3.37. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$3.2 billion
+10.5% on the year
FY2013FY2020
Operating margin
20.6%
19.0% a year earlier
FY2013FY2020
Net income
$557 million
+16.5% on the year
FY2013FY2020
Diluted EPS
$3.37
+16.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,198
2,894
2,714
+10.5%
Cost of revenue
1,133
988
953
+14.7%
Gross profit
2,065
1,906
1,761
+8.4%
Gross margin
64.6%
65.9%
64.9%
Research and development
269
261
246
+3.0%
Operating income
659
549
362
+20.0%
Operating margin
20.6%
19.0%
13.4%
Interest expense
69.1
49.4
43.2
+40.0%
Pre-tax income
616
532
343
+15.7%
Income tax
45.9
53.4
44.7
-13.9%
Effective tax rate
7.5%
10.0%
13.0%
Net income
557
478
298
+16.5%
Net margin
17.4%
16.5%
11.0%
Diluted EPS
$3.37
$2.90
$1.76
+16.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,215
1,058
1,008
+14.8%
Capital expenditure
514
360
218
+43.0%
Free cash flow
701
699
791
+0.3%
Free cash flow margin
21.9%
24.1%
29.1%
Cash from investing
-1,043
-1,668
-507
Cash from financing
-224
-35.7
234
Depreciation and amortisation
478
441
435
+8.6%
Share-based compensation
197
187
184
+5.5%
Buybacks
194
335
750
-42.1%
Diluted shares, weighted
165m
165m
169m
+0.4%
Shares outstanding at period end
163m
162m
163m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,251
3,658
3,192
+16.2%
Debt
1,907
1,840
1,561
+3.6%
Operating lease liabilities
715
692
n/a
+3.4%
Other liabilities
891
817
709
+9.0%
Total liabilities and equity
7,764
7,007
5,462
+10.8%
Fixed assets
1,478
1,152
911
+28.3%
Goodwill
1,674
1,600
1,487
+4.6%
Intangible assets
235
179
168
+30.8%
Investments
2,144
1,979
1,065
+8.4%
Cash and equivalents
353
394
1,036
-10.4%
Receivables
660
552
480
+19.6%
Other assets
1,220
1,151
314
+6.0%
Total assets
7,764
7,007
5,462
+10.8%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.