Akamai Technologies Stock vs Competition: Who Wins?
Akamai‘s stock recently dropped following a weaker-than-expected profit outlook, raising questions about its standing against rapidly scaling cloud security and delivery peers. While exhibiting solid profitability and a moderate valuation (PE of 26.7), its 4.2% LTM revenue growth significantly lags high-growth players like Cloudflare and CrowdStrike. This slower growth and recent underperformance may limit upside as competitors aggressively expand.
- AKAM’s 15.4% operating margin is strong, yet lower than FTNT’s 31.0% due to Fortinet’s superior cost management and high-margin services.
- AKAM’s 4.2% revenue growth lags peers like NET (34%), FSLY (23%), CRWD (22%), and PANW (15%), reflecting a slower pivot to next-gen security and AI.
- AKAM’s stock is down 3.9% (1yr), lagging NET/FSLY’s gains due to its infrastructure-heavy AI strategy and slower growth, leading to a 26.7 PE.
Here’s how Akamai Technologies stacks up across size, valuation, and profitability versus key peers.
| AKAM | NET | FSLY | PANW | FTNT | CRWD | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 13.5 | 61.9 | 2.7 | 101.0 | 60.4 | 97.7 |
| Revenue ($ Bil) | 4.1 | 2.0 | 0.6 | 9.6 | 6.6 | 4.6 |
| PE Ratio | 26.7 | -600.5 | -19.3 | 90.4 | 32.3 | -310.9 |
| LTM Revenue Growth | 4.2% | 28.1% | 9.4% | 15.3% | 14.8% | 22.0% |
| LTM Operating Margin | 15.4% | -9.6% | -23.2% | 13.2% | 31.0% | -8.6% |
| LTM FCF Margin | 17.4% | 10.4% | 5.8% | 38.6% | 30.9% | 24.2% |
| 12M Market Return | -3.9% | 13.3% | 131.5% | -25.2% | -30.0% | -10.9% |
For more details on Akamai Technologies, read Buy or Sell AKAM Stock. Below we compare AKAM’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| AKAM | 4.2% | – | 4.7% | 5.4% | 4.5% |
| NET | 28.1% | – | 28.8% | 33.0% | 48.6% |
| FSLY | 9.4% | – | 7.4% | 16.9% | 22.1% |
| PANW | 15.3% | 14.9% | 16.5% | 25.3% | |
| FTNT | 14.8% | – | 12.3% | 20.1% | 32.2% |
| CRWD | 22.0% | 29.4% | 36.3% | 54.4% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| AKAM | 15.4% | – | 15.9% | 18.5% | 19.7% |
| NET | -9.6% | – | -9.3% | -14.3% | -20.6% |
| FSLY | -23.2% | – | -28.3% | -38.3% | -56.9% |
| PANW | 13.2% | 13.5% | 8.5% | 5.6% | |
| FTNT | 31.0% | – | 30.3% | 23.4% | 21.9% |
| CRWD | -8.6% | -3.0% | -0.1% | -8.5% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| AKAM | 26.7 | – | 26.2 | 26.6 | 36.0 |
| NET | -600.5 | – | -854.2 | -195.3 | -140.5 |
| FSLY | -19.3 | – | -8.9 | -9.1 | -11.4 |
| PANW | 90.4 | 107.6 | 45.1 | 203.3 | |
| FTNT | 32.3 | – | 34.8 | 64.1 | 54.0 |
| CRWD | -310.9 | -5953.5 | 914.1 | -324.8 |
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