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Internet infrastructure and CDN

The 9 companies in this industry listed on the NYSE and Nasdaq are worth $165 bn combined; the largest are Cloudflare (NET), VeriSign (VRSN) and Akamai Technologies (AKAM). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Clear leader
9 companies value 165 bn revenue 13 bn margin 15.9% free cash flow 3.0 bn avg. score 3.7
NET holds 64.3% of the group's value, 3.8x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 NET Cloudflare
United States · score 2.6
64% 106 bn 2.5 bn -8.2% 0.3 bn 0.3% — Content delivery network, security and edge computing · Network that delivers ~20% of web traffic; leader in edge security
2 VRSN VeriSign
United States · score 5.4
17% 28 bn 1.7 bn 49.8% 1.1 bn 3.9% 1.1% Registry for the .com and .net domains and DNS infrastructure · Runs the .com and .net domains under contract: cash with almost no variable cost
3 AKAM Akamai Technologies
United States · score 4.9
8% 13 bn 4.3 bn 9.5% 1.0 bn 7.6% — Content delivery network, cloud and security · Content delivery network pioneer, now strong in security and edge computing
4 DOCN DigitalOcean
United States · score 5.3
7% 12 bn 1.0 bn 23.3% 0.2 bn 1.6% — Cloud for developers and digital-native businesses · Simple cloud for developers and small businesses
5 FSLY Fastly
United States · score 2.6
2% 3.7 bn 0.7 bn -11.8% 0.1 bn 1.4% — Edge network for content delivery and computing · Programmable CDN aimed at developers
6 KC Kingsoft Cloud Holdings Ltd
China · score 4.6
2% 2.5 bn 1.4 bn -9.8% 0.5 bn 21.3% — Cloud computing in China · China — revenue of $1.4bn
7 CCOI COGENT COMMUNICATIONS HOLDINGS, INC.
United States · score 0.0
0% 0.4 bn 1.0 bn -4.7% -0.1 bn -36.0% 13.8% High-speed internet, optical networks and colocation · Washington, DC — revenue of $957m
8 XNET Xunlei Ltd
China · score 6.9
0% 0.3 bn 0.5 bn 227.7% 0.0 bn 10.4% — Internet and distributed computing platform in China · China — revenue of $460m
9 ALAR Alarum Technologies Ltd.
Israel · score 1.1
0% 0.0 bn 0.0 bn 2.4% 0.0 bn -22.0% — Proxy network and public web data collection tools for businesses (NetNut) · Israel — revenue of $41m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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