Business Description
Alphabet Inc. is a multinational technology conglomerate and the parent company of Google. Headquartered in Mountain View, California, it operates globally, offering a wide range of products including search engines, digital advertising, cloud computing, and consumer hardware. The company is distinctive for its dominant market share in online search and digital advertising, as well as its "Other Bets" portfolio of early-stage technology ventures.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | 402,836,000 | 350,018,000 | 307,394,000 | 282,836,000 |
| Cost of Sales | 162,535,000 | 146,306,000 | 133,332,000 | 126,203,000 |
| Gross Profit | 240,301,000 | 203,712,000 | 174,062,000 | 156,633,000 |
| Selling, General & Administrative Expenses | 50,175,000 | 41,996,000 | 44,342,000 | 42,291,000 |
| Research & Development Expenses | 61,087,000 | 49,326,000 | 45,427,000 | 39,500,000 |
| Operating Profit | 129,039,000 | 112,390,000 | 84,293,000 | 74,842,000 |
| Non-Operating Income | 29,787,000 | 7,425,000 | 1,424,000 | (3,514,000) |
| Total Non-Operating Income | 29,787,000 | 7,425,000 | 1,424,000 | (3,514,000) |
| Income Before Provision for Income Taxes | 158,826,000 | 119,815,000 | 85,717,000 | 71,328,000 |
| Provision for Income Taxes | 26,656,000 | 19,697,000 | 11,922,000 | 11,356,000 |
| Consolidated Net Income | 132,170,000 | 100,118,000 | 73,795,000 | 59,972,000 |
| Net Income Attributable to Common Shareholders | 132,170,000 | 100,118,000 | 73,795,000 | 59,972,000 |
| Basic EPS | 10.91 | 8.13 | 5.84 | 4.59 |
| Diluted EPS | 10.82 | 8.05 | 5.80 | 4.56 |
| Basic Weighted Average Shares Outstanding | 12,116,000 | 12,319,000 | 12,630,000 | 13,063,000 |
| Diluted Weighted Average Shares Outstanding | 12,230,000 | 12,447,000 | 12,722,000 | 13,159,000 |
| Shares Outstanding | 12,088,000 | 12,211,000 | 12,460,000 | 12,849,000 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 30,708,000 | 23,466,000 | 24,048,000 | 21,879,000 |
| Short-Term Investments | 96,135,000 | 72,191,000 | 86,868,000 | 91,883,000 |
| Total Cash and Cash Equivalents | 126,843,000 | 95,657,000 | 110,916,000 | 113,762,000 |
| Accounts Receivable | 62,886,000 | 52,340,000 | 47,964,000 | 40,258,000 |
| Total Trade Receivables | 62,886,000 | 52,340,000 | 47,964,000 | 40,258,000 |
| Other Current Assets | 16,309,000 | 15,714,000 | 12,650,000 | 10,775,000 |
| Total Current Assets | 206,038,000 | 163,711,000 | 171,530,000 | 164,795,000 |
| Net Property, Plant & Equipment | 261,818,000 | 184,624,000 | 148,436,000 | 127,049,000 |
| Goodwill | 33,380,000 | 31,885,000 | 29,198,000 | 28,960,000 |
| Long-Term Investments | 68,687,000 | 37,982,000 | 31,008,000 | 30,492,000 |
| Other Long-Term Assets | 25,358,000 | 32,054,000 | 22,220,000 | 13,968,000 |
| Total Assets | 595,281,000 | 450,256,000 | 402,392,000 | 365,264,000 |
| Accounts Payable | 12,200,000 | 7,987,000 | 7,493,000 | 5,128,000 |
| Accrued Expenses | 83,967,000 | 76,099,000 | 70,184,000 | 60,264,000 |
| Unearned Revenue | 6,578,000 | 5,036,000 | 4,137,000 | 3,908,000 |
| Total Current Liabilities | 102,745,000 | 89,122,000 | 81,814,000 | 69,300,000 |
| Long-Term Debt | 46,547,000 | 10,883,000 | 11,870,000 | 14,701,000 |
| Leases | 12,744,000 | 11,691,000 | 12,460,000 | 12,501,000 |
| Other Long-Term Liabilities | 17,980,000 | 13,476,000 | 12,869,000 | 12,618,000 |
| Total Long-Term Liabilities | 77,271,000 | 36,050,000 | 37,199,000 | 39,820,000 |
| Total Liabilities | 180,016,000 | 125,172,000 | 119,013,000 | 109,120,000 |
| Preferred Stock | 0 | 0 | 0 | 0 |
| Common Stock | 93,126,000 | 84,800,000 | 76,534,000 | 68,184,000 |
| Accumulated Other Comprehensive Income | (1,916,000) | (4,800,000) | (4,402,000) | (7,603,000) |
| Retained Earnings | 324,055,000 | 245,084,000 | 211,247,000 | 195,563,000 |
| Total Common Shareholders' Equity | 415,265,000 | 325,084,000 | 283,379,000 | 256,144,000 |
| Total Shareholders' Equity | 415,265,000 | 325,084,000 | 283,379,000 | 256,144,000 |
| Total Liabilities and Shareholders' Equity | 595,281,000 | 450,256,000 | 402,392,000 | 365,264,000 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | 132,170,000 | 100,118,000 | 73,795,000 | 59,972,000 |
| Depreciation & Amortization | 21,136,000 | 15,311,000 | 11,946,000 | 13,475,000 |
| Share-Based Compensation Expense | 24,953,000 | 22,785,000 | 22,460,000 | 19,362,000 |
| Other Adjustments | (14,164,000) | (4,509,000) | (2,610,000) | 921,000 |
| Changes in Trade Receivables | (8,779,000) | (5,891,000) | (7,833,000) | (2,317,000) |
| Changes in Accounts Payable | 907,000 | 359,000 | 664,000 | 707,000 |
| Changes in Accrued Expenses | 12,939,000 | (1,161,000) | 3,937,000 | 3,915,000 |
| Changes in Income Taxes Payable | (3,226,000) | (2,418,000) | 523,000 | 584,000 |
| Changes in Unearned Revenue | 2,420,000 | 1,043,000 | 525,000 | 367,000 |
| Changes in Other Operating Activities | (3,643,000) | (338,000) | (1,661,000) | (5,491,000) |
| Cash from Operating Activities | 164,713,000 | 125,299,000 | 101,746,000 | 91,495,000 |
| Capital Expenditure | (91,447,000) | (52,535,000) | (32,251,000) | (31,485,000) |
| Purchases of Investments | (109,489,000) | (91,713,000) | (80,885,000) | (81,405,000) |
| Proceeds from Sale of Investments | 84,607,000 | 104,310,000 | 87,619,000 | 97,972,000 |
| Payments for Business Acquisitions | (1,592,000) | (2,931,000) | (495,000) | (6,969,000) |
| Other Investing Activities | (2,370,000) | (2,667,000) | (1,051,000) | 1,589,000 |
| Cash from Investing Activities | (120,291,000) | (45,536,000) | (27,063,000) | (20,298,000) |
| Issuance of Long-Term Debt | 64,564,000 | 13,589,000 | 10,790,000 | 52,872,000 |
| Repayments of Long-Term Debt | (32,427,000) | (12,701,000) | (11,550,000) | (54,068,000) |
| Net Issuance / (Repayments) of Long-Term Debt | 32,137,000 | 888,000 | (760,000) | (1,196,000) |
| Issuance of Common Shares | (14,167,000) | (12,190,000) | (9,837,000) | (9,300,000) |
| Repurchases of Common Shares | (45,709,000) | (62,222,000) | (61,504,000) | (59,296,000) |
| Net Issuance / (Repurchases) of Common Shares | (59,876,000) | (74,412,000) | (71,341,000) | (68,596,000) |
| Common Share Dividends Paid | (10,049,000) | (7,363,000) | 0 | 0 |
| Other Financing Activities | 400,000 | 1,154,000 | 8,000 | 35,000 |
| Cash from Financing Activities | (37,388,000) | (79,733,000) | (72,093,000) | (69,757,000) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 208,000 | (612,000) | (421,000) | (506,000) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 7,242,000 | (582,000) | 2,169,000 | 934,000 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $3793.21B |
| P/E | 29.00x |
| P/S | 9.42x |
| EV/EBITDA | 24.81x |
| Return on Equity | 35.7% |
| Return on Invested Capital | 31.8% |
| Current Ratio | 2.01x |
| Dividend Yield | 0.3% |
| Free Cash Flow Margin | 18.2% |
Margins
Gross margin
59.7%
Operating margin
32.0%
Net margin
32.8%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q1 2026 | $109.90B | +21.8% | 36.1% | $39.70B |
| Q4 2025 | $113.83B | +18.0% | 31.6% | $35.93B |
| Q3 2025 | $102.35B | +15.9% | 30.5% | $31.23B |
| Q2 2025 | $96.43B | +13.8% | 32.4% | $31.27B |
| Q1 2025 | $90.23B | — | 33.9% | $30.61B |
| Q4 2024 | $96.47B | — | 32.1% | $30.97B |
| Q3 2024 | $88.27B | — | 32.3% | $28.52B |
| Q2 2024 | $84.74B | — | 32.4% | $27.43B |
More on Alphabet Inc.
Figures compiled from public company filings.
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