GOOGL

Alphabet Inc. ↗ website

CIK: 0001652044 · Communication Services / Internet Content & Information · 3d ago

$346.77 -7.69 (-2.17%)

Market Cap $4.2T P/E 26.4 EV/EBITDA 24.6x P/B 8.8 Div Yield 0.25% 52W $184 – $409

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📊 Split-adjusted. Historical EPS and shares-outstanding marked with * have been retroactively normalized for a 20:1 split detected between FY2020 and FY2021. Pre-split rows show post-split equivalents so YoY growth across the boundary reads correctly.

Growth

Compounded Sales Growth

10 Years	18%
5 Years	17%
3 Years	13%
TTM	17%

Compounded Profit Growth

10 Years	23%
5 Years	27%
3 Years	30%
TTM	44%

Fundamental Growth Decomposition ⓘ

Window:

Returns / Quality

Avg ROIC (All-Capital)

10 Years	40%
5 Years	45%
3 Years	41%
Last Year	37%

Return on Equity

10 Years	22%
5 Years	28%
3 Years	30%
Last Year	32%

Capital Allocation

Capital Return Ratio (vs OE)

10 Years	110%
5 Years	115%
3 Years	113%
Last Year	100%

Dividend Growth (DPS)

10 Years	73%
5 Years	—
3 Years	—

Performance

Stock Price CAGR

10 Years	24%
5 Years	21%
3 Years	38%
1 Year	81%

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Capital Allocation (USD millions / %)
NOPAT	16,106	19,128	12,189	24,231	29,668	34,525	65,961	62,927	72,569	93,914	107,382
Invested capital (ops)	39,132	46,598	58,331	77,286	94,410	110,818	132,036	150,468	174,816	215,389	297,283
Reinvestment rate %	N/A	39.0%	96.3%	78.2%	57.7%	47.5%	32.2%	29.3%	33.6%	43.2%	76.3%
ROIC (Ops) % ⓘ	41.2%	44.6%	23.2%	35.7%	34.6%	33.6%	54.3%	44.5%	44.6%	48.1%	41.9%
Invested capital (All-Capital)	49,260	56,638	54,600	72,500	86,321	99,782	126,803	157,083	184,333	240,310	337,507
ROIC (All-Capital) % ⓘ	32.7%	36.1%	21.9%	38.1%	37.4%	37.1%	58.2%	44.3%	42.5%	44.2%	37.2%
Capital return ratio %	N/A	28.1%	172.5%	69.7%	94.9%	118.1%	94.3%	153.6%	121.0%	117.9%	100.4%
Acquisition intensity %	9.3%	12.5%	9.2%	1.4%	2.2%	3.3%	3.0%	0.0%	0.0%	0.0%	4.8%
Profit & Loss (USD millions)
Revenue	74,989	90,272	110,855	136,819	161,857	182,527	257,637	282,836	307,394	350,018	402,836
Revenue growth %	N/A	20.4%	22.8%	23.4%	18.3%	12.8%	41.2%	9.8%	8.7%	13.9%	15.1%
Gross profit	46,825	55,134	65,272	77,270	89,961	97,795	146,698	156,633	174,062	203,712	240,301
Gross margin %	62.4%	61.1%	58.9%	56.5%	55.6%	53.6%	56.9%	55.4%	56.6%	58.2%	59.7%
Gross profit growth %	N/A	17.7%	18.4%	18.4%	16.4%	8.7%	50.0%	6.8%	11.1%	17.0%	18.0%
Operating income	19,360	23,716	26,178	27,524	34,231	41,224	78,714	74,842	84,293	112,390	129,039
Operating margin %	25.8%	26.3%	23.6%	20.1%	21.1%	22.6%	30.6%	26.5%	27.4%	32.1%	32.0%
Operating income growth %	N/A	22.5%	10.4%	5.1%	24.4%	20.4%	90.9%	-4.9%	12.6%	33.3%	14.8%
EBITDA	24,423	29,860	33,093	36,559	46,012	54,921	88,987	88,317	96,239	127,701	150,175
EBITDA growth %	N/A	22.3%	10.8%	10.5%	25.9%	19.4%	62.0%	-0.8%	9.0%	32.7%	17.6%
EBITDA margin %	32.6%	33.1%	29.9%	26.7%	28.4%	30.1%	34.5%	31.2%	31.3%	36.5%	37.3%
Interest expense	104	124	109	114	100	135	346	357	308	268	736
Interest coverage (x)	234.8x	240.8x	303.6x	320.7x	460.1x	406.8x	257.2x	247.4x	312.5x	476.5x	204.0x
Net income	16,348	19,478	12,662	30,736	34,343	40,269	76,033	59,972	73,795	100,118	132,170
Net margin %	21.8%	21.6%	11.4%	22.5%	21.2%	22.1%	29.5%	21.2%	24.0%	28.6%	32.8%
Net income growth %	N/A	19.1%	-35.0%	142.7%	11.7%	17.3%	88.8%	-21.1%	23.0%	35.7%	32.0%
EPS (diluted, $)	1.19*	1.39*	0.90*	2.19*	2.46*	2.93*	5.61	4.56	5.80	8.04	10.81
EPS growth %	N/A	17.1%	-35.4%	142.8%	12.5%	19.2%	91.5%	-18.7%	27.2%	38.6%	34.5%
Balance Sheet (USD millions)
Total assets	147,461	167,497	197,295	232,792	275,909	319,616	359,268	365,264	402,392	450,256	595,281
Total debt	1,995	3,935	3,969	4,012	4,554	13,932	14,817	14,701	11,870	10,883	49,085
Shareholders' equity	120,331	139,036	152,502	177,628	201,442	222,544	251,635	256,144	283,379	325,084	415,265
Cash & equivalents	73,066	86,333	101,871	109,140	119,675	136,694	139,649	113,762	110,916	95,657	126,843
Shares outstanding (M)	13,747*	13,826*	13,896*	13,911*	13,767*	13,504*	13,242	12,849	12,460	12,211	12,088
Cash Flow (USD millions)
Operating cash flow	26,572	36,036	37,091	47,971	54,520	65,124	91,652	91,495	101,746	125,299	164,713
Capex	9,950	10,212	13,184	25,139	23,548	22,281	24,640	31,485	32,251	52,535	91,447
Free cash flow	16,622	25,824	23,907	22,832	30,972	42,843	67,012	60,010	69,495	72,764	73,266
FCF margin %	22.2%	28.6%	21.6%	16.7%	19.1%	23.5%	26.0%	21.2%	22.6%	20.8%	18.2%
FCF growth %	N/A	55.4%	-7.4%	-4.5%	35.7%	38.3%	56.4%	-10.4%	15.8%	4.7%	0.7%
Owner Earnings	N/A	13,162	2,809	13,013	19,379	26,380	53,298	38,599	50,819	59,012	55,526
Owner Earnings margin %	N/A	14.6%	2.5%	9.5%	12.0%	14.5%	20.7%	13.6%	16.5%	16.9%	13.8%
Owner Earnings growth %	N/A	N/A	-78.7%	363.3%	48.9%	36.1%	102.0%	-27.6%	31.7%	16.1%	-5.9%
Unlevered Owner Earnings	11,219	15,060	5,920	8,127	17,901	25,941	51,594	44,917	52,264	56,690	37,071
Investing cash flow	-23,711	-31,165	-31,401	-28,504	-29,491	-32,773	-35,523	-20,298	-27,063	-45,536	-120,291
Financing cash flow	-4,225	-8,332	-8,298	-13,179	-23,209	-24,408	-61,362	-69,757	-72,093	-79,733	-37,388
Dividends paid	47	0	0	0	0	0	0	0	0	7,363	10,049
Share buybacks	1,780	3,693	4,846	9,075	18,396	31,149	50,274	59,296	61,504	62,222	45,709
Buyback yield %	0.3%	0.7%	0.7%	1.3%	2.0%	2.7%	2.6%	5.3%	3.6%	2.7%	1.2%
D&A	5,063	6,144	6,915	9,035	11,781	13,697	10,273	13,475	11,946	15,311	21,136
CFO / Op. Income %	137.3%	151.9%	141.7%	174.3%	159.3%	158.0%	116.4%	122.3%	120.7%	111.5%	127.6%
Working Capital (USD millions)
Accounts receivable	11,556	14,137	18,336	20,838	25,326	30,930	39,304	40,258	47,964	52,340	62,886
Inventory	491	268	749	1,107	999	728	1,170	2,670	0	0	0
Accounts payable	1,931	2,041	3,137	4,378	5,561	5,589	6,037	5,128	7,493	7,987	12,200
Net PPE	29,016	34,234	42,383	59,719	73,646	84,749	97,599	112,668	134,345	171,036	246,597
Key Ratios
ROE %	13.6%	14.0%	8.3%	17.3%	17.0%	18.1%	30.2%	23.4%	26.0%	30.8%	31.8%
ROA %	11.1%	11.6%	6.4%	13.2%	12.4%	12.6%	21.2%	16.4%	18.3%	22.2%	22.2%
ROCE %	15.1%	15.7%	15.1%	13.9%	14.8%	15.7%	26.7%	25.3%	26.3%	31.1%	26.2%
Debt / Equity	0.02	0.03	0.03	0.02	0.02	0.06	0.06	0.06	0.04	0.03	0.12
Net Debt / EBITDA (x)	-2.9x	-2.8x	-3.0x	-2.9x	-2.5x	-2.2x	-1.4x	-1.1x	-1.0x	-0.7x	-0.5x
Debtor days	56	57	60	56	57	62	56	52	57	55	57
Inventory days	6	3	6	7	5	3	4	8	—	—	—
Days payable (DPO)	25	21	25	27	28	24	20	15	21	20	27
Cash conv. cycle	38	39	41	36	34	41	40	45	36	35	30

Metric	FY24 Q2 Jun 24	FY24 Q3 Sep 24	FY24 Q4 Dec 24	FY25 Q1 Mar 25	FY25 Q2 Jun 25	FY25 Q3 Sep 25	FY25 Q4 Dec 25	FY26 Q1 Mar 26
Profit & Loss (USD millions)
Revenue	84,742	88,268	96,469	90,234	96,428	102,346	113,828	109,896
Gross profit	49,235	51,794	55,856	53,873	57,389	60,977	68,062	68,625
Gross margin %	58.1%	58.7%	57.9%	59.7%	59.5%	59.6%	59.8%	62.4%
Operating income	27,425	28,521	30,972	30,606	31,271	31,228	35,934	39,696
Net income	23,619	26,301	26,536	34,540	28,196	34,979	34,455	62,578
Net margin %	27.9%	29.8%	27.5%	38.3%	29.2%	34.2%	30.3%	56.9%
EPS (diluted, $)	1.89	2.12	2.17	2.81	2.31	2.87	2.85	5.11
Balance Sheet (USD millions, end of quarter)
Total assets	414,770	430,266	450,256	475,374	502,053	536,469	595,281	703,919
Total debt	13,238	12,297	10,883	10,886	26,607	24,607	49,085	79,499
Shareholders' equity	300,753	314,119	325,084	345,267	362,916	386,867	415,265	478,746
Cash & equivalents	100,725	93,230	95,657	95,328	95,148	98,496	126,843	126,840
Cash Flow (USD millions)
Operating cash flow	26,640	30,698	39,113	36,150	27,747	48,414	52,402	45,790
Capex	13,186	13,061	14,276	17,197	22,446	23,953	27,851	35,674
Free cash flow	13,454	17,637	24,837	18,953	5,301	24,461	24,551	10,116

Google Search & Other

YouTube Advertising

Google Network

Google Cloud

Subscriptions, Platforms & Devices

Other Revenues

Advertising Revenue

Google Network Members Properties

Google Properties

Google Advertising Revenue

Segment	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue ($M)
Google Search & Other	—	69,811 63%	85,296 62%+22%	98,115 61%+15%	104,062 57%+6%	148,951 58%+43%	162,450 57%+9%	175,033 57%+8%	198,084 57%+13%	224,532 56%+13%
YouTube Advertising	—	8,150 7%	11,155 8%+37%	15,149 9%+36%	19,772 11%+31%	28,845 11%+46%	29,243 10%+1%	31,510 10%+8%	36,147 10%+15%	40,367 10%+12%
Google Network	15,598 17%	17,616 16%+13%	20,010 15%+14%	21,547 13%+8%	23,090 13%+7%	31,701 12%+37%	32,780 12%+3%	31,312 10%-4%	30,359 9%-3%	29,792 7%-2%
Google Cloud	—	4,056 4%	5,838 4%+44%	8,918 6%+53%	—	—	—	—	—	—
Subscriptions, Platforms & Devices	—	—	—	—	—	28,032 11%	29,055 10%+4%	34,688 11%+19%	40,340 12%+16%	48,030 12%+19%
Other Revenues	10,601 12%	10,914 10%+3%	14,063 10%+29%	17,014 11%+21%	21,711 12%+28%	28,032 11%+29%	29,055 10%+4%	—	—	—
Advertising Revenue	79,383 88%	95,375 86%+20%	116,318 85%+22%	—	—	—	—	—	—	—
Google Network Members Properties	15,598 17%	17,616 16%+13%	20,010 15%+14%	21,547 13%+8%	23,090 13%+7%	31,701 12%+37%	—	—	—	—
Google Properties	63,785 71%	77,961 70%+22%	96,451 70%+24%	113,264 70%+17%	—	—	—	—	—	—
Google Advertising Revenue	—	95,577 86%	116,461 85%+22%	134,811 83%+16%	146,924 80%+9%	209,497 81%+43%	224,473 79%+7%	237,855 77%+6%	264,590 76%+11%	294,691 73%+11%
Total (check)	184,965	397,076	485,602	430,365	338,649	506,759	507,056	510,398	569,520	637,412

Source: SEC EDGAR XBRL · Full breakdown ↗

Google Services

Google Cloud

All Other Segments

Google Inc.

Segment	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue ($M)
Google Services	—	—	—	—	—	130,524 95%	151,825 94%+16%	168,635 92%+11%	237,529 92%+41%	253,528 90%+7%	272,543 89%+8%	304,930 87%+12%	342,721 85%+12%
Google Cloud	—	—	—	—	—	5,838 4%	8,918 6%+53%	13,059 7%+46%	19,206 7%+47%	26,280 9%+37%	33,088 11%+26%	43,229 12%+31%	58,705 15%+36%
All Other Segments	12	327 +2625%	445 1%+36%	288 0%-35%	477 0%+66%	595 0%+25%	659 0%+11%	657 0%-0%	753 0%+15%	1,068 0%+42%	1,527 0%+43%	1,648 0%+8%	1,537 0%-7%
Google Inc.	55,507	65,674 +18%	74,544 99%+14%	89,984 100%+21%	110,547 100%+23%	136,362 100%+23%	160,743 99%+18%	—	—	—	—	—	—
Total (check)	55,519	66,001	74,989	90,272	111,024	273,319	322,145	182,351	257,488	280,876	307,158	349,807	402,963
Operating Margin %
Google Services	—	—	—	—	—	+33.0%	+32.3%	+32.4%	+37.1%	+32.6%	+35.2%	+39.8%	+40.7%
Google Cloud	—	—	—	—	—	-74.5%	-52.1%	-42.9%	-11.9%	-7.3%	+5.2%	+14.1%	+23.7%
All Other Segments	-4391.7%	-578.9%	-776.6%	-951.7%	-573.2%	-564.4%	-732.0%	-681.3%	-538.0%	-434.1%	-268.2%	-269.7%	-488.9%
Google Inc.	+29.3%	+28.9%	+31.3%	+30.1%	+29.4%	+26.9%	+25.9%	—	—	—	—	—	—

Source: SEC EDGAR XBRL · Full breakdown ↗

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