Alphabet Inc. (Class A) is a US-listed company in the interactive media & services industry. Its financial year ends in December.
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~$130
Cash-flow model
Base case. Range ~$100–$160 across our lower- and higher-growth cases (14.4%–24.4% a year).
Overvalued
The price is above our entire value range; our base value is 54% below it.
Price used: $279.08, November 3, 2026
Alphabet Inc. (Class A) valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Model value −24.1%
Revenue for the twelve months to September 2026 was $471.1bn, up 22.2% on a year earlier, faster than the 20.1% growth a quarter earlier. Free-cash-flow margin fell to 4.2% from 19.1% a year earlier. Our model value falls from $165 to $125 a share, against a share price of $281. The rating stays Sell.
Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation
Alphabet's revenue reached $471.1bn in the twelve months to June 2026, a 22.2% increase on the prior year and an acceleration from the 20.1% growth recorded a quarter earlier. Among the interactive media & services companies we cover, that pace ranks fourth of sixteen. Free-cash-flow margin, however, told a different story, dropping sharply to 4.2% from 19.1% a year earlier. Our model value has barely moved and sits at $165 a share, well below the current share price of $325. Given that gap, the rating remains Sell.
Revenue for the twelve months to June 2026 was $445.9bn, up 20.1% on a year earlier, faster than 17.5% a quarter earlier. That growth ranks 178 of 931 among all the companies we cover. Free-cash-flow margin fell to 11.9% from 18.0% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 5 of our 7 financial-health checks. Our cash-flow model value is $132 a share, against a share price of $342. At that price, our model says the market is pricing in about 35.6% a year of cash-flow growth for five years, faster than the 11.6% a year revenue growth it has delivered.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Alphabet Inc. (Class A)'s trailing-twelve-month revenue grew 22.2% year on year, with a free-cash-flow margin of 4.2%. Where it stands out: operating margin of 33.3% ranks 3 of 63 interactive media & services companies we cover.
Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$100–$160 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 73.2% while net income grew 89.7%: a 163pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
Alphabet Inc. (Class A) filed a Form 8-K on 28 October 2026. The report lists the company's registered securities, including Class A and C common stock, preferred depositary shares, and senior notes due between 2028 and 2126. The filing confirms the current capital structure for Nasdaq-listed instruments.
A burst of coverage this week ties Alphabet to the scale of AI infrastructure spending across the industry. Its own filings show capital spending growing far faster than revenue, and free cash flow near its lowest margin on record even as net income surges.
The share price implies about 37.4% a year of cash-flow growth for five years.That is faster than the 12.8% a year revenue growth Alphabet Inc. (Class A) has delivered.
Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.
Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($279.06, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies
Our value per share comes from a discounted-cash-flow model of Alphabet Inc. (Class A)'s free cash flow after stock-based pay ( $29.6B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.
We value Alphabet Inc. (Class A) as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.08 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. | ~$130 ~$100–$160 | Primary model, counts double |
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$210 ~$140–$270 | Included |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$140 ~$120–$230 | Included |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$430 ~$310–$610 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$240 ~$210–$280 | Included |
| Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$210 ~$130–$430 | 5 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Alphabet Inc. (Class A) with Interactive Media & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| Discount rate ↓ / growth → | −5% growth | 0% growth | 5% growth | 10% growth | 15% growth | 20% growth |
|---|---|---|---|---|---|---|
| 7% | $46 | $58 | $75 | $97 | $125 | $161 |
| 8.5% | $38 | $47 | $59 | $74 | $94 | $120 |
| 10% | $33 | $40 | $49 | $61 | $76 | $96 |
| At fiscal year end | 2022 | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|---|
| Share price | $87.40 | $138.37 | $188.20 | $312.39 | $278.99 |
| Market value | $1.15tn | $1.76tn | $2.34tn | $3.82tn | $3.43tn |
| + Net debt (− = net cash) | −$6.6bn | −$9.3bn | −$9.2bn | $18.4bn | $71.2bn |
| Enterprise value | $1.14tn | $1.75tn | $2.33tn | $3.84tn | $3.50tn |
| Multiples | |||||
| Price / sales | 4.1x | 5.7x | 6.7x | 9.5x | 7.3x |
| Price / earnings | 19.2x | 23.9x | 23.4x | 28.9x | 14.5x |
| Price / free cash flow | 19.2x | 25.3x | 32.2x | 52.1x | 173.6x |
| EV / EBITDA | 12.9x | 18.2x | 18.3x | 25.6x | 18.9x |
Strong moat
How hard Alphabet Inc. (Class A)'s competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Cash operating profit has been a median 27.0% of total assets over 10 years.
Gross margin has been a median 56.7%, moving by 2.1 percentage points (standard deviation) across 10 years.
Operating margin has been a median 27.2%; its worst year was 20.3%.
Free cash flow was positive in 10 of 10 years, at a median 19.4% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (97 before it).
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $19.71 | +82% | $499.4bn | +24% |
| Next | $14.84 | −25% | $634.5bn | +27% |
Next year's EPS estimate has moved +0.5% in 90 days, across 48 analysts.
The consensus EPS forecast for the current fiscal year is −4.2% on 90 days ago. In the last 30 days, 5 analysts raised Alphabet Inc. (Class A)'s forecast and 4 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $20.58 | $14.77 |
| 60 days ago | $20.60 | $14.85 |
| 30 days ago | $20.64 | $14.96 |
| 7 days ago | $20.60 | $15.15 |
| Now | $19.71 | $14.84 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $3.01 | $2.12 | −29.5% |
| Jun 2026 | $2.90 | $9.11 | +214.2% |
| Mar 2026 | $2.67 | $5.11 | +91.6% |
| Dec 2025 | $2.64 | $2.82 | +7.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
Our cash-flow model grows Alphabet Inc. (Class A)'s revenue by +25.3% next year and +22.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+27.7%, weight 71%) and the company's own record (+19.4%, weight 29%) . How the weights are set.
Last 12 months −0.5%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $371.4bn | $445.9bn | +20.1% |
| Net margin | 31.1% | 54.8% | +76.0% |
| P/E multiple | 29.9x | 14.0x | −53.2% |
| Share count | 12314m | 12245m | +0.6% |
Biggest factor: p/e multiple.
Last 3 years +118.2%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $289.5bn | $445.9bn | +54.0% |
| Net margin | 21.1% | 54.8% | +160.2% |
| P/E multiple | 28.4x | 14.0x | −50.7% |
| Share count | 13522m | 12245m | +10.4% |
Biggest factor: net margin.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| GOOGL | +65% | −39% | +58% | +36% | +66% | −11% |
| Industry peers (median) | −26% | −54% | −6% | −21% | −16% | −27% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| GOOGL | 83% | 25% | 67% | 67% | 75% | 27% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| GOOGL | −8% | −44% | −17% | −22% | −30% | −31% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 44% from November 18, 2021 to November 3, 2022. Getting back needed a 80% gain, reached on January 25, 2024, 448 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 28, 2026 | −11.5% | 0.0% | — | — |
| July 22, 2026 | −8.5% | −1.3% | −3.0% | −1.9% |
| April 29, 2026 | +10.0% | +1.0% | +13.8% | +8.7% |
| February 4, 2026 | −2.5% | −1.7% | −8.5% | −12.1% |
| October 29, 2025 | +5.2% | −1.1% | +6.3% | +19.7% |
| July 23, 2025 | +0.4% | +0.9% | +2.7% | +4.4% |
| April 24, 2025 | +4.3% | +2.8% | +3.8% | +8.4% |
| February 4, 2025 | −4.9% | +1.1% | −7.9% | −14.4% |
| October 29, 2024 | +4.6% | −0.1% | +1.8% | +1.5% |
| July 23, 2024 | −5.0% | −2.4% | −6.3% | −8.7% |
| April 25, 2024 | +8.1% | +0.6% | +4.7% | +10.0% |
| January 30, 2024 | −8.7% | −1.7% | −6.1% | −9.8% |
How Alphabet Inc. (Class A)’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.
Option prices imply less movement than the shares have recently shown. Selling options pays little for the risk taken.
Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.
Not offered: rated Sell.
We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.
Own 100 shares, sell the $305 call expiring December 11, 2026 (38 days) for $2.99 a share — $299 per contract.
Bid $2.99, ask $3.30, quoted Tue 3 Nov, 14:28 New York time with GOOGL at $280.54. Option prices move with the shares: check the live chain at your broker before trading.
Own the shares, buy the $265 put and sell the $305 call, both expiring December 11, 2026 (38 days).
Offered because the shares trade at or above our fair value of $130: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.
General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $307.4B |
| FY24 Q1 | $318.1B |
| FY24 Q2 | $328.3B |
| FY24 Q3 | $339.9B |
| FY24 Q4 | $350B |
| FY25 Q1 | $359.7B |
| FY25 Q2 | $371.4B |
| FY25 Q3 | $385.5B |
| FY25 Q4 | $402.8B |
| FY26 Q1 | $422.5B |
| FY26 Q2 | $445.9B |
| FY26 Q3 | $471.1B |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | 8.7% |
| FY24 Q1 | 11.8% |
| FY24 Q2 | 13.4% |
| FY24 Q3 | 14.4% |
| FY24 Q4 | 13.9% |
| FY25 Q1 | 13.1% |
| FY25 Q2 | 13.1% |
| FY25 Q3 | 13.4% |
| FY25 Q4 | 15.1% |
| FY26 Q1 | 17.5% |
| FY26 Q2 | 20.1% |
| FY26 Q3 | 22.2% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q4 | 27.4% |
| FY24 Q1 | 29.0% |
| FY24 Q2 | 29.8% |
| FY24 Q3 | 30.9% |
| FY24 Q4 | 32.1% |
| FY25 Q1 | 32.7% |
| FY25 Q2 | 32.7% |
| FY25 Q3 | 32.2% |
| FY25 Q4 | 32.0% |
| FY26 Q1 | 32.7% |
| FY26 Q2 | 33.1% |
| FY26 Q3 | 33.3% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q4 | 22.6% |
| FY24 Q1 | 21.7% |
| FY24 Q2 | 18.5% |
| FY24 Q3 | 16.4% |
| FY24 Q4 | 20.8% |
| FY25 Q1 | 20.8% |
| FY25 Q2 | 18.0% |
| FY25 Q3 | 19.1% |
| FY25 Q4 | 18.2% |
| FY26 Q1 | 15.2% |
| FY26 Q2 | 11.9% |
| FY26 Q3 | 4.2% |
Each dollar Alphabet Inc. (Class A) took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.
| Revenue | $403B | |
|---|---|---|
| Other income | $29.8B | 7.4% of revenue |
| Cost of revenue | $163B | 40.3% of revenue |
| Gross profit | $240B | 59.7% of revenue |
| Research and development | $61.1B | 15.2% of revenue |
| Selling, general and admin | $50.2B | 12.5% of revenue |
| Operating income | $129B | 32.0% of revenue |
| Income tax | $26.7B | 6.6% of revenue |
| Net income | $132B | 32.8% of revenue |
| Fiscal year | 2009 Dec 2009 | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||||||||
| Revenue | 23.7 | 29.3 | 37.9 | 46.0 | 55.5 | 66.0 | 75.0 | 90.3 | 110.9 | 136.8 | 161.9 | 182.5 | 257.6 | 282.8 | 307.4 | 350.0 | 402.8 | 471.1 |
| Gross profit | 14.8 | 18.9 | 24.7 | 28.9 | 33.5 | 40.3 | 46.8 | 55.1 | 65.3 | 77.3 | 90.0 | 97.8 | 146.7 | 156.6 | 174.1 | 203.7 | 240.3 | 286.7 |
| EBITDA | 9.6 | 11.4 | 13.1 | 15.8 | 18.2 | — | — | — | — | — | — | — | 89.0 | 88.3 | 96.2 | 127.7 | 150.2 | 185.0 |
| Operating income | 8.3 | 10.4 | 11.7 | 13.8 | 15.4 | 16.5 | 19.4 | 23.7 | 26.2 | 27.5 | 34.2 | 41.2 | 78.7 | 74.8 | 84.3 | 112.4 | 129.0 | 157.0 |
| Net income | 6.5 | 8.5 | 9.7 | 10.7 | 12.7 | 14.1 | 16.3 | 19.5 | 12.7 | 30.7 | 34.3 | 40.3 | 76.0 | 60.0 | 73.8 | 100.1 | 132.2 | 235.7 |
| Diluted EPS | $20.41 | $26.31 | $29.76 | $0.81 | $0.94 | $1.03 | — | $27.85 | $18.00 | $43.70 | $49.16 | $2.93 | $5.61 | $4.56 | $5.80 | $8.04 | $10.81 | $19.18 |
| Growth (year on year) | ||||||||||||||||||
| Revenue | +8.5% | +24.0% | +29.3% | +21.5% | +20.6% | +18.9% | +13.6% | +20.4% | +22.8% | +23.4% | +18.3% | +12.8% | +41.2% | +9.8% | +8.7% | +13.9% | +15.1% | +22.2% |
| EBITDA | +21.8% | +19.8% | +14.8% | +20.4% | +14.9% | — | — | — | — | — | — | — | — | −0.8% | +9.0% | +32.7% | +17.6% | +29.0% |
| Operating income | +25.3% | +24.9% | +13.1% | +17.8% | +11.3% | +7.1% | +17.4% | +22.5% | +10.4% | +5.1% | +24.4% | +20.4% | +90.9% | −4.9% | +12.6% | +33.3% | +14.8% | +26.5% |
| Net income | +54.2% | +30.4% | +14.5% | +10.3% | +18.6% | +11.0% | +15.6% | +19.1% | −35.0% | +142.7% | +11.7% | +17.3% | +88.8% | −21.1% | +23.0% | +35.7% | +32.0% | +89.7% |
| Diluted EPS | +53.3% | +28.9% | +13.1% | −97.3% | +16.3% | +9.5% | — | — | −35.4% | +142.8% | +12.5% | −94.0% | +91.5% | −18.7% | +27.2% | +38.6% | +34.5% | +89.3% |
| Margins | ||||||||||||||||||
| Gross margin | 62.6% | 64.5% | 65.2% | 62.7% | 60.4% | 61.1% | 62.4% | 61.1% | 58.9% | 56.5% | 55.6% | 53.6% | 56.9% | 55.4% | 56.6% | 58.2% | 59.7% | 60.9% |
| EBITDA margin | 40.4% | 39.0% | 34.7% | 34.4% | 32.8% | — | — | — | — | — | — | — | 34.5% | 31.2% | 31.3% | 36.5% | 37.3% | 39.3% |
| Operating margin | 35.1% | 35.4% | 31.0% | 30.0% | 27.7% | 25.0% | 25.8% | 26.3% | 23.6% | 20.1% | 21.1% | 22.6% | 30.6% | 26.5% | 27.4% | 32.1% | 32.0% | 33.3% |
| Net margin | 27.6% | 29.0% | 25.7% | 23.3% | 22.9% | 21.4% | 21.8% | 21.6% | 11.4% | 22.5% | 21.2% | 22.1% | 29.5% | 21.2% | 24.0% | 28.6% | 32.8% | 50.0% |
| Free-cash-flow margin | 36.0% | 24.1% | 29.4% | 29.0% | 20.4% | 18.2% | 22.2% | 28.6% | 21.6% | 16.7% | 19.1% | 23.5% | 26.0% | 21.2% | 22.6% | 20.8% | 18.2% | 4.2% |
| Cash flow | ||||||||||||||||||
| Cash from operations | 9.3 | 11.1 | 14.6 | 16.6 | 18.7 | 23.0 | 26.6 | 36.0 | 37.1 | 48.0 | 54.5 | 65.1 | 91.7 | 91.5 | 101.7 | 125.3 | 164.7 | 179.6 |
| Capital spending | 0.8 | 4.0 | 3.4 | 3.3 | 7.4 | 11.0 | 10.0 | 10.2 | 13.2 | 25.1 | 23.5 | 22.3 | 24.6 | 31.5 | 32.3 | 52.5 | 91.4 | 159.8 |
| Free cash flow | 8.5 | 7.1 | 11.1 | 13.3 | 11.3 | 12.0 | 16.6 | 25.8 | 23.9 | 22.8 | 31.0 | 42.8 | 67.0 | 60.0 | 69.5 | 72.8 | 73.3 | 19.7 |
| Stock-based pay | 1.2 | 1.4 | 2.0 | 2.7 | 3.3 | 4.3 | 5.2 | 6.7 | 7.7 | 9.4 | 10.8 | 13.0 | 15.4 | 19.4 | 22.5 | 22.8 | 25.0 | 30.5 |
| Free cash flow after stock pay | 7.3 | 5.7 | 9.2 | 10.7 | 8.0 | 7.7 | 11.4 | 19.1 | 16.2 | 13.5 | 20.2 | 29.9 | 51.6 | 40.6 | 47.0 | 50.0 | 48.3 | −10.8 |
| Balance sheet | ||||||||||||||||||
| Cash | 10.2 | 13.6 | 10.0 | 14.8 | 18.9 | 18.3 | 16.5 | 12.9 | 10.7 | 16.7 | 18.5 | 26.5 | 20.9 | 21.9 | 24.0 | 23.5 | 30.7 | 56.3 |
| Total debt | 0.0 | 3.5 | 4.2 | 5.5 | 5.2 | 5.2 | 5.2 | 4.0 | 4.0 | 4.1 | 4.7 | 15.3 | 15.4 | 15.3 | 14.7 | 14.3 | 49.1 | 127.5 |
| Net debt (negative = net cash) | −10.2 | −10.2 | −5.8 | −9.2 | −13.7 | −13.1 | −11.3 | −8.9 | −6.7 | −12.6 | −13.8 | −11.1 | −5.5 | −6.6 | −9.3 | −9.2 | 18.4 | 71.2 |
| Diluted shares | — | — | — | 13,292m | 13,552m | 13,741m | — | — | — | — | — | — | — | 13,159m | 12,722m | 12,447m | 12,230m | 12,286m |
| Returned to shareholders | ||||||||||||||||||
| Dividends | — | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | — | — | 0.0 | 0.0 | 7.4 | 10.0 | 10.7 |
| Buybacks | 0.0 | 0.8 | 0.0 | 0.0 | 0.0 | 0.0 | 1.8 | 3.7 | 4.8 | 9.1 | 18.4 | 31.1 | 50.3 | 59.3 | 61.5 | 62.2 | 45.7 | 5.9 |
| Total returned | 0.0 | 0.8 | 0.0 | 0.0 | 0.0 | 0.0 | 1.8 | 3.7 | 4.8 | 9.1 | 18.4 | 31.1 | 50.3 | 59.3 | 61.5 | 69.6 | 55.8 | 16.6 |
| Quarter | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 | 2026 Q3 Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 96.5 | 90.2 | 96.4 | 102.3 | 113.8 | 109.9 | 119.8 | 127.6 |
| Gross profit | 55.9 | 53.9 | 57.4 | 61.0 | 68.1 | 68.6 | 73.9 | 76.2 |
| EBITDA | 35.2 | 35.1 | 36.3 | 36.8 | 42.0 | 46.2 | 47.9 | 48.9 |
| Operating income | 31.0 | 30.6 | 31.3 | 31.2 | 35.9 | 39.7 | 40.8 | 40.6 |
| Net income | 26.5 | 34.5 | 28.2 | 35.0 | 34.5 | 62.6 | 112.2 | 26.5 |
| Diluted EPS | $2.14 | $2.81 | $2.31 | $2.87 | $2.82 | $5.11 | $9.11 | $2.12 |
| Growth (year on year) | ||||||||
| Revenue | +11.8% | +12.0% | +13.8% | +15.9% | +18.0% | +21.8% | +24.2% | +24.7% |
| EBITDA | +30.2% | +21.5% | +16.5% | +13.3% | +19.3% | +31.6% | +32.0% | +32.9% |
| Operating income | +30.7% | +20.2% | +14.0% | +9.5% | +16.0% | +29.7% | +30.4% | +29.9% |
| Net income | +28.3% | +46.0% | +19.4% | +33.0% | +29.8% | +81.2% | +297.9% | −24.3% |
| Diluted EPS | +30.5% | +48.7% | +22.2% | +35.4% | +31.8% | +81.9% | +294.4% | −26.1% |
| Margins | ||||||||
| Gross margin | 57.9% | 59.7% | 59.5% | 59.6% | 59.8% | 62.4% | 61.6% | 59.7% |
| EBITDA margin | 36.5% | 38.9% | 37.6% | 36.0% | 36.9% | 42.0% | 40.0% | 38.4% |
| Operating margin | 32.1% | 33.9% | 32.4% | 30.5% | 31.6% | 36.1% | 34.0% | 31.8% |
| Net margin | 27.5% | 38.3% | 29.2% | 34.2% | 30.3% | 56.9% | 93.7% | 20.7% |
| Free-cash-flow margin | 25.7% | 21.0% | 5.5% | 23.9% | 21.6% | 9.2% | −4.9% | −7.1% |
| Cash flow | ||||||||
| Cash from operations | 39.1 | 36.2 | 27.7 | 48.4 | 52.4 | 45.8 | 39.1 | 42.3 |
| Capital spending | 14.3 | 17.2 | 22.4 | 24.0 | 27.9 | 35.7 | 44.9 | 51.4 |
| Free cash flow | 24.8 | 19.0 | 5.3 | 24.5 | 24.6 | 10.1 | −5.9 | −9.1 |
| Stock-based pay | 5.8 | 5.5 | 6.0 | 6.4 | 7.1 | 6.8 | 8.0 | 8.7 |
| Free cash flow after stock pay | 19.0 | 13.4 | −0.7 | 18.1 | 17.5 | 3.4 | −13.9 | −17.8 |
| Last 12 months unless stated | GOOGL | META | SE | SPOT | BIDU | SNAP | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $471.1bn | $241.6bn | $22.9bn | $19.4bn | $18.0bn | $6.4bn | $615m |
| Revenue growth, last 12 months | 22.2% | 27.5% | 36.4% | 14.6% | −2.9% | 12.6% | 2.4% |
| Revenue growth, 3-year average | 16.6% | 23.9% | — | — | 51.2% | 12.3% | 5.0% |
| Revenue growth, latest quarter | 24.7% | 26.1% | — | — | — | 18.9% | 2.4% |
| Gross margin | 60.9% | 81.0% | 44.7% | 32.0% | 43.9% | 57.3% | 60.4% |
| Operating margin | 33.3% | 32.9% | 8.7% | 12.8% | −4.5% | −5.1% | 0.3% |
| Operating margin, 3-year average | 32.1% | 38.7% | −42.8% | 1.5% | 7.5% | −13.7% | −0.4% |
| Net margin | 50.0% | 31.1% | 6.9% | 12.9% | 4.3% | −4.9% | 3.8% |
| Cash from operations / revenue | 38.1% | 55.1% | 21.9% | 17.1% | −2.3% | 14.5% | 11.4% |
| Free-cash-flow margin | 4.2% | 11.9% | 19.7% | 16.7% | −12.7% | 11.1% | 7.5% |
| Free-cash-flow margin, 3-year average | 13.2% | 23.0% | −21.6% | 7.7% | 9.2% | 6.1% | 7.2% |
| Stock pay / revenue | 6.5% | 11.1% | 2.7% | 1.4% | 2.8% | 16.2% | 3.7% |
| Change in share count | 0.2% | −0.8% | 5.5% | 1.7% | 0.4% | 0.6% | 2.0% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 22.2% | 2.4% | 15 of 63 |
| Change in growth rate Growth | +2.2pp | -0.2pp | 22 of 63 |
| Gross margin Profitability | 60.9% | 60.9% | 27 of 54 |
| Operating margin Profitability | 33.3% | 0.3% | 3 of 63 |
| Net margin Profitability | 50.0% | 3.8% | 3 of 63 |
| Free-cash-flow margin Cash generation | 4.2% | 8.9% | 39 of 59 |
| Stock pay as % of revenue Cash generation | 6.5% | 3.9% | 37 of 61 |
| Long-term debt as % of assets Balance sheet | 12.5% | 16.9% | 15 of 32 |
| Change in share count Balance sheet | 0.2% | 1.7% | 23 of 55 |
| Days sales outstanding Balance sheet | 56 days | 49 days | 35 of 54 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Google Services | $343B | 85.1% | ▲ 12.4% |
| Google Cloud | $58.7B | 14.6% | ▲ 35.8% |
| All Other Segments | $1.5B | 0.4% | ▼ 6.7% |
| Region | Revenue | Share | YoY |
|---|---|---|---|
| United States | $194B | 48.2% | ▲ 14.0% |
| EMEA | $117B | 29.1% | ▲ 14.7% |
| Asia Pacific | $67.7B | 16.8% | ▲ 19.1% |
| Americas Excluding United States | $23.9B | 5.9% | ▲ 17.1% |
From Alphabet Inc. (Class A)'s 10-K filed February 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $165B | 461.0M | 9.8% | ▲ 3.1% |
| Vanguard Capital Management LLC | $137B | 383.0M | 8.2% | ▲ 1.2% |
| FMR LLC | $89.6B | 250.7M | 5.3% | ▲ 6.0% |
| State Street Corp | $85.4B | 239.0M | 5.1% | ▲ 5.6% |
| Geode Capital Management, LLC | $53.5B | 150.1M | 3.2% | ▼ 1.2% |
| Morgan Stanley | $43.1B | 120.5M | 2.6% | ▼ 0.4% |
| Price T Rowe Associates Inc | $36.2B | 101.3M | 2.2% | ▲ 25.8% |
| Vanguard Portfolio Management LLC | $35.3B | 98.9M | 2.1% | ▲ 2.4% |
| Invesco Ltd. | $32.6B | 91.3M | 1.9% | ▲ 1.3% |
| Jpmorgan Chase & Co | $32.5B | 91.9M | 1.9% | ▲ 29.6% |
| Norges Bank | $28.9B | 80.9M | 1.7% | — |
| Berkshire Hathaway Inc | $28.2B | 78.8M | 1.7% | ▲ 45.2% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Alphabet Inc. (Class A)'s complete shareholder register. Values are as reported by the filers ; 21 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Arnold Frances Director | October 29, 2026 | Sell pre-set plan | 82 | $284.00 | $23,288 |
| Arnold Frances Director | September 30, 2026 | Sell pre-set plan | 83 | $340.45 | $28,257 |
| Arnold Frances Director | August 28, 2026 | Sell pre-set plan | 82 | $337.71 | $27,692 |
| Arnold Frances Director | July 30, 2026 | Sell pre-set plan | 82 | $333.39 | $27,338 |
| Saraci Marsida VP, Chief Accounting Officer | July 29, 2026 | Sell pre-set plan | 449 | $333.20 | $149,607 |
| Gv 2019 Gp, L.L.C. 10% owner | July 28, 2026 | Sell | 118,138 | $18.90 | $2.2M |
| Gv 2019 Gp, L.L.C. 10% owner | July 27, 2026 | Sell | 196,931 | $19.46 | $3.8M |
| Gv 2019 Gp, L.L.C. 10% owner | July 24, 2026 | Sell | 23,417 | $18.88 | $442,001 |
| Gv 2019 Gp, L.L.C. 10% owner | July 23, 2026 | Sell | 63,297 | $19.06 | $1.2M |
| Gv 2019 Gp, L.L.C. 10% owner | July 22, 2026 | Sell | 49,582 | $19.23 | $953,467 |
| Gv 2019 Gp, L.L.C. 10% owner | July 21, 2026 | Sell | 200 | $19.72 | $3,944 |
| Gv 2019 Gp, L.L.C. 10% owner | July 21, 2026 | Sell | 22,700 | $19.05 | $432,424 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
In the last 12 months, 14 members of Congress disclosed 22 purchases and 27 sales of Alphabet Inc. (Class A) shares.
Next expected around February 3, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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