{"schemaVersion":1,"research":true,"symbol":"akam","name":"Akamai","topic":"moat","path":"/stock/akam/moat","status":"published","version":4,"updatedAt":"2026-10-17T21:21:59.962Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"none","summary":"The supplied disclosures establish valuable infrastructure and shared-platform efficiencies, but do not establish a durable economic moat. Realized renewal price declines in delivery and security, customer traffic redistribution and DIY substitution demonstrate weak pricing power and limited customer dependency. Security growth and cross-selling partly offset this erosion. Distributed AI infrastructure remains a potential advantage whose investment returns and competitive durability are unproven.","advantages":[{"mechanism":"cost_advantage","claim":"Akamai has an existing distributed infrastructure and reports reducing third-party cloud spending by running services on shared infrastructure. This supports an operating efficiency, but the passages do not establish lower total costs than competitors or sufficient customer value capture to constitute a moat.","durability":"The installed footprint is substantial, but sustained relative cost superiority is unverified. Additional cloud and AI infrastructure investment does not itself demonstrate a durable advantage.","risks":"Customers have obtained lower renewal prices, redistributed traffic and adopted DIY alternatives. Delivery revenue continues to decline, security faces pricing pressure, and infrastructure expansion has reduced cash flow. Shared infrastructure does not establish a customer network effect or an efficiently protected market.","invalidation":"The relative cost-advantage thesis would fail if comparable services cannot be delivered at lower total cost than alternatives, or if sustained price concessions and traffic losses outweigh shared-platform savings. A stronger moat assessment would require demonstrated cost superiority, durable repeat demand and improved pricing outcomes through successive renewals.","competitors":[],"evidenceIds":["e1","e2","e3"],"counterEvidenceIds":["e4","e7","e8","e9","e13","e16"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Item 1, Business overview; infrastructure as of December 31, 2025","excerpt":"As of December 31, 2025, our massively distributed global infrastructure was comprised of core and distributed compute sites, more than 4,300 edge points-of-presence in over 130 countries and approximately 700 cities, and our underlying global network integrated with roughly 1,200 network partners."},{"id":"e2","sourceId":"filing-1","location":"Item 1, Business overview; management description of infrastructure visibility","excerpt":"With this scale and distribution, Akamai has visibility and insight into traffic volumes, congestion, attack patterns, vulnerabilities and other activities across the internet's complex intersections of networks and systems."},{"id":"e3","sourceId":"filing-3","location":"Stockholder letter; reported reduction in third-party cloud spending","excerpt":"Importantly, delivering key parts of these solutions on our own shared infrastructure has allowed us to significantly reduce third-party cloud spend."},{"id":"e4","sourceId":"filing-2","location":"MD&A; realized delivery and security renewal price declines","excerpt":"•The prices paid by some of our delivery and security customers have declined in recent years at contract renewal due to competition, which negatively impacts our revenue growth rates."},{"id":"e5","sourceId":"filing-2","location":"MD&A; incremental sales to existing customers","excerpt":"We have been able to mitigate some of the negative impacts to our revenue growth rates by upselling incremental solutions to our existing customers."},{"id":"e6","sourceId":"filing-2","location":"MD&A; steps toward multi-year renewal contracts and unit pricing changes","excerpt":"We are taking steps upon contract renewals to sign customers to multi-year contracts that reflect the significant cost increases we have experienced from hyperscaler market dynamics and their traffic volumes to better align unit pricing."},{"id":"e7","sourceId":"filing-2","location":"Risk factors; pricing pressure, DIY initiatives and traffic redistribution","excerpt":"Revenue from our delivery and other cloud applications solutions is impacted by pricing pressure due to competition and fluctuations in content traffic as a result of, among other factors, changes in the popularity of our customers' content including video delivery and gaming, and economic pressures on our customers that can cause them to take steps to optimize their platforms, including through \"do-it-yourself\" (\"DIY\") initiatives or redistributing traffic among multiple providers."},{"id":"e8","sourceId":"filing-2","location":"Risk factors; realized customer traffic reductions and revenue effects","excerpt":"Such steps by our customers have in the past and may in the future reduce traffic on our network, negatively impacting revenue."},{"id":"e9","sourceId":"filing-2","location":"Risk factors; continuing delivery and other cloud applications revenue declines","excerpt":"Although the rate of decline has diminished in recent periods, we have continued to experience revenue declines in our delivery and other cloud applications solutions, and ongoing competition, pricing pressure, and potential further shifts toward DIY or alternative sourcing strategies may continue to impact our delivery revenue."},{"id":"e10","sourceId":"filing-3","location":"Stockholder letter; 2025 total revenue and growth","excerpt":"Closing the year with strong momentum, we delivered $4,208 million in total revenue, a 5% year-over-year increase, and outperformed expectations across key financial metrics."},{"id":"e11","sourceId":"filing-3","location":"Stockholder letter; 2025 security revenue and growth","excerpt":"Security remained our primary revenue driver, with our portfolio growing 10% to $2.24 billion."},{"id":"e12","sourceId":"filing-3","location":"Stockholder letter; 2025 compute revenue and growth","excerpt":"Simultaneously, we significantly expanded our cloud computing footprint; our compute portfolio generated $708 million in revenue, growing 12% year-over-year."},{"id":"e13","sourceId":"filing-2","location":"MD&A; quarterly and first-half net income and Adjusted EBITDA reconciliation","excerpt":"39 Table of Contents The following table reconciles GAAP net income to Adjusted EBITDA and Adjusted EBITDA margin for the periods presented (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Net income $ 79,404 $ 103,618 $ 185,723 $ 226,789 Interest and marketable securities income, net (31,672) (14,129) (49,219) (33,659) Provision for income taxes 20,623 48,320 36,302 98,532 Depreciation and amortization 145,356 135,757 289,223 270,061 Amortization of capitalized stock-based compensation and capitalized interest expense 15,434 12,288 30,450 24,647 Amortization of acquired intangible assets 25,089 27,721 50,276 55,358 Stock-based compensation 146,290 112,776 274,971 224,754 Restructuring charge 1,825 3,103 2,008 3,464 Acquisition-related costs 1,788 1,274 1,029 1,369 Interest expense 9,078 8,201 17,335 14,951 Gain on cost method investments, net — — — (9,313) Other expense, net 2,851 5,451 4,637 8,744 Adjusted EBITDA $ 416,066 $ 444,380 $ 842,735 $ 885,697 Net income margin 7 % 10 % 9 % 11 % Adjusted EBITDA margin 38 % 43 % 39 % 43 % Impact of Foreign Currency Exchange Rates Revenue and earnings from our international operations have historically been an important contributor to our financial results."},{"id":"e14","sourceId":"filing-3","location":"Stockholder letter; 2025 operating cash flow","excerpt":"In 2025, we delivered strong operating cash flow of $1.52 billion, or 36% of revenue."},{"id":"e15","sourceId":"filing-3","location":"Stockholder letter; reduction in outstanding shares since January 1, 2015","excerpt":"Since January 1, 2015, Akamai has reduced the number of shares of common stock outstanding by approximately 18%."},{"id":"e16","sourceId":"filing-2","location":"Risk factors; realized cash-flow effects of investment and debt obligations","excerpt":"These growing capital expenditures, together with ongoing operating expenses and our obligations to service our substantial indebtedness, have reduced and may continue to reduce our cash flow."},{"id":"e17","sourceId":"filing-2","location":"Liquidity and capital resources; first-half 2026 share repurchases","excerpt":"During the six months ended June 30, 2026, we repurchased 5.0 million shares of common stock at a weighted average price of $123.19 per share for an aggregate of $615.7 million."},{"id":"e18","sourceId":"filing-2","location":"Liquidity and capital resources; expected cessation of repurchases for remainder of 2026","excerpt":"We do not expect any share repurchases for the remainder of 2026 as we continue to invest in our platform to support cloud infrastructure services."},{"id":"e19","sourceId":"filing-2","location":"Liquidity and capital resources; May 2026 convertible note issuance","excerpt":"Convertible Senior Notes In May 2026, we issued $1,750.0 million in principal amount of convertible senior notes due 2030 (\"2030 Notes\") and $1,750.0 million in principal amount of convertible senior notes due 2032 (\"2032 Notes\") and entered into related convertible note hedge and warrant transactions."},{"id":"e20","sourceId":"filing-2","location":"Stockholders' equity note; first-half stock-based compensation","excerpt":"Stock-Based Compensation Components of total stock-based compensation included in the Company’s interim condensed consolidated statements of income for the three and six months ended June 30, 2026 and 2025 were as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Cost of revenue $ 24,659 $ 19,314 $ 46,336 $ 38,242 Research and development 53,997 39,803 102,854 82,071 Sales and marketing 26,456 22,263 51,437 44,703 General and administrative 41,178 31,396 74,344 59,738 Total stock-based compensation 146,290 112,776 274,971 224,754 Provision for income taxes (39,236) (20,465) (74,457) (35,262) Total stock-based compensation, net of income taxes $ 107,054 $ 92,311 $ 200,514 $ 189,492 In addition to the amounts of stock-based compensation reported in the table above, the Company’s interim condensed consolidated statements of income also include stock-based compensation reflected as a component of amortization primarily consisting of capitalized internal-use software; the additional stock-based compensation was $15.2 million and $30.1 million for the three and six months ended June 30, 2026, respectively, before taxes, and $12.2 million and $24.4 million for the three and six months ended June 30, 2025, respectively, before taxes."},{"id":"e21","sourceId":"filing-3","location":"Equity plan discussion; existing executive award composition and forfeiture","excerpt":"Annual equity awards to our executive team, including our executive officers, are 50% service-based and 50% performance-based, with shares not earned for a period being forfeited."},{"id":"e22","sourceId":"filing-3","location":"Executive compensation; annual performance periods","excerpt":"The TL&C Committee also carefully considered the implications of using one-year performance periods, as opposed to a single three-year period, and determined that the current approach was best aligned with our business realities and is supported by our peer group practice."},{"id":"e23","sourceId":"filing-3","location":"Financial metrics definitions; compensation metric exclusions","excerpt":"“Non-GAAP Operating Income” means our annual GAAP operating income adjusted for the following items: amortization of acquired intangible assets, stock-based compensation, amortization of capitalized stock-based compensation, amortization of capitalized interest expense, restructuring charges, acquisition-related costs, legal settlements, the impact of fluctuations in foreign currency exchange rates and other non-recurring or unusual items that may arise from time to time."},{"id":"e24","sourceId":"filing-3","location":"Corporate governance; independent director sessions","excerpt":"Our independent directors meet separately as part of each Board meeting and at other times as appropriate."},{"id":"e25","sourceId":"filing-3","location":"Equity plan discussion; independent committee administration","excerpt":"/81/ Table of Contents Administered by an independent committee The 2013 Plan, as amended, is administered by the TL&C Committee, which is made up entirely of independent directors."},{"id":"e26","sourceId":"filing-3","location":"Equity plan discussion; award recoupment provisions","excerpt":"Awards subject to forfeiture/clawback Awards under the 2013 Plan, as amended, are subject to recoupment under certain circumstances."},{"id":"e27","sourceId":"filing-2","location":"Risk factors; board powers and shareholder nomination requirements","excerpt":"For example, our board of directors has the right to elect directors to fill a vacancy created by the expansion of the board of directors or the resignation, death or removal of a director; stockholders must provide advance notice, additional disclosures and representations and warranties to nominate individuals for election to the board of directors or to propose matters that can be acted upon at a stockholders' meeting; and our board of directors can issue, without stockholder approval, shares of undesignated preferred stock."},{"id":"e28","sourceId":"filing-2","location":"Risk factors; cloud infrastructure adoption, platform development and pricing dependencies","excerpt":"Our ability to generate revenue in our cloud infrastructure services solutions depends on our ability to successfully continue building our platform, developing AI capabilities, attract a customer base that has traditionally partnered with more established companies in the cloud computing industry, develop effective, price competitive and attractive solutions and increase prices without reducing customer adoption, usage or retention."}],"changes":["No comparable previous version."],"limitations":["All evidence is issuer-supplied. Reported operating results support assessments, but claims of superior architecture, market leadership and cost efficiency lack comparative verification.","Source dates are filing dates: February 20, 2026 for filing-1, March 31, 2026 for filing-3 and August 7, 2026 for filing-2. Historical results and forward-looking statements retain their respective reporting contexts.","No passage establishes a named competitive rival. Suppliers, acquisition targets, director affiliations and compensation benchmarking peers are not treated as competitors; competitor arrays therefore remain empty.","No comparative unit costs, customer retention rates, migration costs or quantified proprietary-data benefits are supplied. Cross-selling supports repeat demand indirectly, without establishing customer lock-in.","Detailed customer pricing terms and achieved outcomes from the multi-year repricing initiative are missing. The initiative is not treated as demonstrated pricing recovery.","The proxy supplies actual compensation and governance practices, but not sufficient ownership evidence to assess management's personal economic exposure. Proposed plan expansion and special-meeting changes are not assumed adopted.","Investment returns from accelerated cloud and AI expansion remain unproven. Operating cash flow is not treated as free cash flow, and margin levels alone do not establish a moat."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":2,"rationale":"The installed global footprint and reported shared-infrastructure savings are tangible strengths. Relative cost superiority and protected economics remain unverified, while actual renewal concessions demonstrate competitive weakness.","evidenceIds":["e1","e2","e3","e4"]},{"criterion":"durability","grade":1,"rationale":"Infrastructure remains useful, but recurring renewal price declines and continuing delivery contraction weaken evidence of durable value capture. Cloud infrastructure requires further development and adoption.","evidenceIds":["e1","e4","e9","e28"]},{"criterion":"customer_dependency","grade":1,"rationale":"Existing-customer upselling demonstrates some relationship value, but realized traffic reductions and customers' ability to redistribute workloads or use DIY alternatives indicate limited dependency. Migration costs are not quantified.","evidenceIds":["e5","e7","e8"]},{"criterion":"erosion_resilience","grade":1,"rationale":"Security and compute growth provide offsets, but delivery erosion persists and first-half profitability weakened. These are realized outcomes, rather than hypothetical risk factors alone.","evidenceIds":["e9","e11","e12","e13"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":1,"rationale":"Some delivery and security customers obtained lower prices at renewal in recent years. Upselling partly mitigated the revenue effect but does not demonstrate higher like-for-like pricing; the repricing initiative has no supplied achieved outcome.","evidenceIds":["e4","e5","e6"]},{"criterion":"retention","grade":2,"rationale":"Incremental sales to existing customers demonstrate repeat demand, while traffic losses and alternative sourcing show leakage. This is an indirect operating assessment; no renewal or churn rate is supplied.","evidenceIds":["e5","e7","e8"]},{"criterion":"margin_resilience","grade":1,"rationale":"Shared-infrastructure savings provide an offset, but first-half net income margin fell from 11% to 9% and Adjusted EBITDA margin from 43% to 39%. Investment and compensation costs also affect these outcomes, so the decline cannot be attributed entirely to pricing.","evidenceIds":["e3","e13","e20"]},{"criterion":"contractual_freedom","grade":2,"rationale":"The renewal initiative shows scope to negotiate unit prices and multi-year terms. Actual competitive concessions demonstrate constrained bargaining power. Detailed escalation, termination and minimum-purchase provisions are unavailable.","evidenceIds":["e4","e6"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Strong 2025 operating cash generation and a long-term reduction in outstanding shares support discipline. First-half 2026 repurchases, substantial new convertible financing and reduced cash flow from investment and debt obligations make the record mixed. The announced repurchase pause is a prospective allocation decision, not a completed investment return.","evidenceIds":["e14","e15","e16","e17","e18","e19"]},{"criterion":"incentive_alignment","grade":2,"rationale":"Half of executive annual equity awards are performance-based with forfeiture, and recoupment provisions exist. Annual performance periods and compensation metrics excluding stock compensation and other costs weaken alignment with long-term economic returns. Personal ownership exposure is not established.","evidenceIds":["e21","e22","e23","e26"]},{"criterion":"execution","grade":2,"rationale":"Reported 2025 total, security and compute revenue growth demonstrate operating progress. Continuing delivery declines and weaker first-half 2026 earnings offset that achievement. Customer adoption is assessed indirectly from revenue and upselling; AI investment success remains unproven.","evidenceIds":["e5","e9","e10","e11","e12","e13","e28"]},{"criterion":"governance","grade":2,"rationale":"Independent director sessions, independent compensation-plan administration and recoupment provisions are actual disclosed safeguards. Board vacancy-filling powers, nomination requirements and authority to issue undesignated preferred stock constrain shareholder influence. Proposed governance changes are not counted as adopted.","evidenceIds":["e24","e25","e26","e27"]}]}],"qualityPolicy":"quality-scores-2","basisHash":"3e9ad19a91ec8e2d2f3e3fc0487efc051c77fa702d2b60b644483ba591cf5e99","updatedAt":"2026-10-17T21:21:59.962Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1086222/000108622226000022/akam-20251231.htm","publishedAt":"2026-02-20","sha256":"e5fdf37dfcfbecfae83d815d981f2c34416c71cb3a16972d45b43648a3522782","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1086222/000108622226000086/akam-20260630.htm","publishedAt":"2026-08-07","sha256":"b8af2248dc20a4681dad27539354426f550225a1f12b0b4a81016faaed109b91","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1086222/000108622226000042/akam-20260330.htm","publishedAt":"2026-03-31","sha256":"b131b473b90c1f8639597f4c6102a5c0eb2422a151ae34b6d46760d2f394accd","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:b843bdba762be3a66fc9b8213a63d8dea66d076200bd787729b6e45fb0b65db6","usage":{"input_tokens":53639,"cached_input_tokens":0,"cache_write_input_tokens":0,"output_tokens":3328,"reasoning_output_tokens":154},"basisSupplement":{"previousHash":"fa520c60c3d354004bc317f9cda38024167b28f512b85b73e7ddfcef7e3e3e73","checkedAt":"2026-10-18T16:49:32.080Z","rule":"dated historical and missing inputs only; accepted observations and research date retained"}},"signals":[{"period":"2021","end":"2021-12-31","values":{"gross_margin":63.33792997446278,"operating_margin":22.626337569119357,"roic":null,"fcf_margin":31.07554757379112,"sbc_revenue":5.858016082754563},"issues":{"ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roiic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period."}},{"period":"2022","end":"2022-12-31","values":{"gross_margin":61.737589495705144,"operating_margin":18.698885765682867,"roic":null,"fcf_margin":28.57364846070428,"sbc_revenue":6.005136239186829},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roiic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period."}},{"period":"2023","end":"2023-12-31","values":{"gross_margin":60.3595301055636,"operating_margin":16.719605867909085,"roic":null,"fcf_margin":23.361717979390964,"sbc_revenue":8.616838758420952},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roiic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period."}},{"period":"2024","end":"2024-12-31","values":{"gross_margin":59.39050924441166,"operating_margin":13.364784444052466,"roic":null,"fcf_margin":28.28089421442545,"sbc_revenue":9.856212517238061},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roiic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period."}},{"period":"2025","end":"2025-12-31","values":{"gross_margin":58.9486416320614,"operating_margin":13.472443517676902,"roic":null,"fcf_margin":24.02416724589638,"sbc_revenue":10.916893902938922},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roiic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1086222/000108622226000022/akam-20251231.htm","publishedAt":"2026-02-20","sha256":"e5fdf37dfcfbecfae83d815d981f2c34416c71cb3a16972d45b43648a3522782","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1086222/000108622226000086/akam-20260630.htm","publishedAt":"2026-08-07","sha256":"b8af2248dc20a4681dad27539354426f550225a1f12b0b4a81016faaed109b91","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1086222/000108622226000042/akam-20260330.htm","publishedAt":"2026-03-31","sha256":"b131b473b90c1f8639597f4c6102a5c0eb2422a151ae34b6d46760d2f394accd","dateKind":"filed"}],"history":[{"version":4,"updatedAt":"2026-10-18T16:49:32.080Z","verdict":"none","value":null},{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"none","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"none","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}