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Akamai Technologies cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$81.9M in Q3 2026 · $545M over twelve months

Operating cash flow$433M
Capital spending−$515M
Free cash flow−$81.9M
Cash / net income3.7×
Cash conversion cycle35 days

Analysis

In Q3 2026, Akamai Technologies generated $433M of operating cash flow and spent $515M on capital projects, leaving free cash flow of −$81.9M. That is $411M less than in Q3 2025 ($329M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.4B; the largest uses were other investing ($2.6B), capital spending ($893M), buybacks ($616M); besides operations, cash came from net borrowing (+) / repaid (−) ($3.5B), shares issued ($71.9M); the cash balance rose by $223M.

Operating cash flow was $433M against net income of $117M — 3.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$192M, stock-based pay +$132M, prepaid and other assets +$19.0M.

Its cash conversion cycle was 35 days (receivables 78 + inventory 0 − payables 44).

Free cash flow

Akamai Technologies: free cash flow by quarterAkamai Technologies: free cash flow by quarter$251MQ4 2024$133MQ1 2025$314MQ2 2025$329MQ3 2025$235MQ4 2025$211MQ1 2026$181MQ2 2026−$81.9MQ3 2026
Operating cash flow less capital spending.
Akamai Technologies: operating cash flow against capital spendingAkamai Technologies: operating cash flow against capital spendingOperating cash flowCapital spending$344M$92.9MQ4 2024$251M$118MQ1 2025$459M$146MQ2 2025$442M$113MQ3 2025$367M$132MQ4 2025$313M$102MQ1 2026$326M$145MQ2 2026$433M$515MQ3 2026
Latest (Q3 2026): Operating cash flow $433M, Capital spending $515M.

Capital allocation, year by year

Akamai Technologies: where the cash came from (up) and went (down), by fiscal yearAkamai Technologies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $1.4BFY2021: Shares issued $59.6MFY2021: Capital spending −$329MFY2021: Acquisitions −$599MFY2021: Buybacks −$522M$1.5BFY2021FY2022: Operating cash flow $1.3BFY2022: Shares issued $56.5MFY2022: Capital spending −$241MFY2022: Acquisitions −$872MFY2022: Buybacks −$608M$1.3BFY2022FY2023: Operating cash flow $1.3BFY2023: Net borrowing $1.2BFY2023: Shares issued $63.0MFY2023: Capital spending −$458MFY2023: Acquisitions −$106MFY2023: Buybacks −$654M$2.7BFY2023FY2024: Operating cash flow $1.5BFY2024: Shares issued $61.5MFY2024: Capital spending −$390MFY2024: Acquisitions −$434MFY2024: Buybacks −$557M$1.6BFY2024FY2025: Operating cash flow $1.5BFY2025: Net borrowing $551MFY2025: Shares issued $62.5MFY2025: Capital spending −$508MFY2025: Acquisitions −$55.1MFY2025: Buybacks −$800M$2.1BFY2025
Over these 5 years operating cash flow totalled $7.1B; the largest uses were buybacks ($3.1B) and acquisitions ($2.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.5B
Debtnone
Net cash$3.5B

Akamai Technologies funds itself: free cash flow was $545M over the last twelve months, with $3.5B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Akamai Technologies: sources (+) and uses (−) of cash, Q3 2026Akamai Technologies: sources (+) and uses (−) of cash, Q3 2026Capital spending−$515MOperating cash flow$433MCash drawn (+) / kept (−)$328MAcquisitions−$191MOther investing−$54.6MShares issued$22.4MOther financing−$19.5MExchange rates−$2.4MNet borrowing (+) / repaid (−)−$589K
Akamai Technologies: sources (+) and uses (−) of cash, TTM to Q3 2026Akamai Technologies: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$3.5BOther investing−$2.6BOperating cash flow$1.4BCapital spending−$893MBuybacks−$616MOther financing−$422MAcquisitions−$247MCash drawn (+) / kept (−)−$223MShares issued$71.9MExchange rates−$346K

From profit to cash

Akamai Technologies: net income to operating cash flow, Q3 2026Akamai Technologies: net income to operating cash flow, Q3 2026Net income$117MDepreciation & amortization$192MStock-based pay$132MDeferred taxes−$17.0MOther non-cash$5.1MReceivables−$5.6MPayables$11.8MDeferred revenue−$5.8MPrepaid and other assets$19.0MOther liabilities−$646KOther operating capital−$19.0MOperating cash flow$433M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202678—4435
Q2 202676—4036
Q1 202670—2644
Q4 202566—3233
Q3 202567—3631
Q2 202567—3235
Q1 202566—3135
Q4 202464—2638

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$433M−$515M−$191M—−$589K$22.4M$328M−$81.9M
Q2 2026$326M−$145M—−$410M—$14.3M−$855M$181M
Q1 2026$313M−$102M—−$206M—$21.6M$304M$211M
Q4 2025$367M−$132M−$55.9M—−$594K$13.6M$14K$235M
Q3 2025$442M−$113M——−$392K$19.7M−$79.9M$329M
Q2 2025$459M−$146M—−$300M—$9.1M$249M$314M
Q1 2025$251M−$118M—−$500M—$20.2M−$581M$133M
Q4 2024$344M−$92.9M—−$138M—$13.8M$53.7M$251M

Akamai Technologies: income statement and cash flow

Akamai Technologies, Q3 2026: revenue $1.1B (+6% year over year), operating margin 9.7%. The chart follows the revenue to costs, profit and cash.

Akamai Technologies: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.