Alphabet Inc. GOOG

Communication ServicesSoftware & IT ServicesUnited States of America

Last close 278.22 USD on Nov 1, 2026, −11.2% year to date

Quant rating

Quant rating A+ Rank 1 of 135 in Communication Services

Growth A 20 of 135
Valuation B 64 of 135
Quality A 11 of 135
Revisions B 22 of 135
Momentum B 93 of 135

Wall Street consensus Buy (1.59)Average target 400.21 USD +43.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.43T
Enterprise value: 3.31T
52-week range: 271.41 – 404.43
3-year range: 127.57 – 404.43
Dividend yield: 0.32%
Beta (5 years): 1.21
Shares outstanding: 12,294M
Next earnings: Feb 4, 2027

About the company

Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, applications, and other products and services for enterprise customers. Its Other Bets segment includes the sale of autonomous transportation services and internet services. Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini Enterprise; cybersecurity offerings; and data and analytics solutions. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	402,836	350,018	307,394	282,836	257,637	–
Revenue growth	15.1%	13.9%	8.7%	9.8%	41.2%	17.2%
EPS (basic, normalized)	10.81	8.04	5.80	4.56	5.61	–
EPS growth	34.5%	38.6%	27.2%	−18.7%	–	–
Gross margin	59.7%	58.2%	56.9%	55.4%	56.9%	57.4%
Net margin	32.8%	29.4%	24.7%	21.8%	29.5%	27.6%
ROE	35.7%	33.8%	28.1%	24.3%	32.1%	30.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	265,098
Current ratio	2.79x
Long-term debt (mil)	127,754
Net debt (mil)	−117,252
Total equity (mil)	677,549
Net debt / equity	−0.17x
Net debt / EBITDA	−0.67x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	402,836	+15.1%	8.2x	175,128	+16.5%	18.9x	10.81	+34.5%	25.7x
2026	499,963	+24.1%	6.6x	231,219	+32.0%	14.3x	19.78	+83.0%	14.1x
2027	636,379	+27.3%	5.2x	302,682	+30.9%	10.9x	14.99	−24.2%	18.6x
2028	779,303	+22.5%	4.3x	390,766	+29.1%	8.5x	18.11	+20.8%	15.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	499,963	+0.3%	+0.5%	+3.4%	19.78	−4.1%	−3.9%	+45.5%
2027	636,379	+3.9%	+4.7%	+11.5%	14.99	+0.5%	+1.7%	+5.6%
2028	779,303	+6.7%	+7.6%	+17.6%	18.11	+0.7%	+2.3%	+8.1%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	80,539	84,742	88,268	96,469	90,234	96,428	102,346	113,828	109,896	119,796
Sales mean (mil)	78,594	84,193	86,328	96,649	89,086	93,944	100,057	111,355	107,117	117,058
Surprise	+2.5%	+0.7%	+2.2%	−0.2%	+1.3%	+2.6%	+2.3%	+2.2%	+2.6%	+2.3%
EPS reported	1.89	1.89	2.12	2.15	2.27	2.31	3.10	2.82	2.62	2.85
EPS mean	1.51	1.84	1.85	2.13	2.01	2.18	2.33	2.63	2.62	2.91
Surprise	+25.2%	+2.5%	+14.6%	+1.1%	+13.1%	+6.1%	+32.9%	+7.1%	0.0%	−2.1%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
GOOG Alphabet Inc.	3.43T	−0.67x	32.8%	5.08x	14.1x	18.6x	14.3x	10.9x
META Meta Platforms, Inc.	1.60T	0.01x	37.1%	5.77x	21.3x	18.2x	11.4x	8.9x
NFLX Netflix, Inc.	254.9B	0.49x	24.3%	8.70x	17.3x	16.5x	15.3x	13.3x
BABA Alibaba Group Holding Limited	243.9B	−0.48x	10.3%	1.45x	14.6x	10.3x	9.1x	6.5x
SHOP Shopify Inc.	202.6B	−2.48x	10.7%	16.01x	83.1x	64.3x	70.8x	53.4x
CRM Salesforce, Inc.	188.6B	1.57x	18.0%	4.91x	13.7x	14.3x	11.1x	10.3x
Mean		−0.26x	22.2%	6.99x	27.3x	23.7x	22.0x	17.2x
Median		−0.23x	21.1%	5.42x	16.0x	17.4x	12.9x	10.6x

Technical analysis

1M−18.0%
3M−16.3%
1Y+3.9%
3Y+127.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Alphabet Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	402,836	350,018	307,394	282,836	257,637	182,527
Cost of revenue	162,535	146,306	132,372	126,203	110,939	84,732
Gross profit	240,301	203,712	175,022	156,633	146,698	97,795
Selling, general & administrative expenses	43,975	40,696	43,087	42,291	36,422	28,998
Research & development	58,687	48,789	43,709	39,500	31,562	27,573
Depreciation/amortization	2,400	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	6,200	1,837	3,933	–	0	0
Other operating expenses	0	0	0	0	0	0
Operating income	129,039	112,390	84,293	74,842	78,714	41,224
Net interest income (expense)	28,120	6,288	868	−4,693	13,517	8,104
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	1,667	1,137	556	1,179	−1,497	−1,246
Net income before taxes	158,826	119,815	85,717	71,328	90,734	48,082
Provision for taxes	26,656	16,997	9,822	9,756	14,701	7,813
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	132,170	102,818	75,895	61,572	76,033	40,269
Extraordinary items	–	−2,700	−2,100	−1,600	–	–
Net income	132,170	100,118	73,795	59,972	76,033	40,269
EBIT, normalized	135,239	114,227	88,226	74,842	78,714	41,224
EBITDA, normalized	156,375	129,538	100,172	90,771	91,144	54,903
Basic EPS, normalized	10.81	8.04	5.80	4.56	5.61	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Alphabet Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	126,843	95,657	110,916	113,762	139,649	136,694
Receivables	62,886	52,340	47,964	40,258	40,270	31,384
Total inventory	–	–	–	2,670	1,170	728
Prepaid expenses	–	–	–	–	–	–
Other current assets	16,309	15,714	12,650	8,105	7,054	5,490
Total current assets	206,038	163,711	171,530	164,795	188,143	174,296
Property, plant & equipment	261,818	184,624	148,436	127,049	110,558	96,960
Goodwill	33,380	31,885	29,198	28,960	22,956	21,175
Intangibles	–	–	–	2,084	1,417	1,445
Long-term investments	68,687	37,982	31,008	30,492	29,549	20,703
Note receivable	–	–	–	–	–	–
Other long-term assets	25,358	32,054	22,220	11,884	6,645	5,037
Total assets	595,281	450,256	402,392	365,264	359,268	319,616
Liabilities
Accounts payable	12,200	7,987	7,493	5,128	6,037	5,589
Payable/accrued	–	–	–	–	–	–
Accrued expenses	53,599	55,836	47,672	42,490	35,213	28,208
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	2,437	1,234	1,363	298	113	1,100
Other current liabilities	34,509	24,065	25,286	21,384	22,891	21,937
Total current liabilities	102,745	89,122	81,814	69,300	64,254	56,834
Long-term debt	48,606	12,325	13,253	14,701	14,817	13,932
Minority interest	–	–	–	–	–	–
Other liabilities	28,665	23,725	23,946	25,119	28,562	26,306
Total liabilities	180,016	125,172	119,013	109,120	107,633	97,072
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	12.1	12.2	12.5	12.8	0.7	0.7
Additional paid-in capital	93,114	84,788	76,522	68,171	61,773	58,509
Retained earnings (accumulated deficit)	324,055	245,084	211,247	195,563	191,484	163,401
Treasury stock	–	–	–	–	–	–
Other equity	−1,916	−4,800	−4,402	−7,603	−1,623	633
Total equity	415,265	325,084	283,379	256,144	251,635	222,544
Total liabilities & shareholders' equity	595,281	450,256	402,392	365,264	359,268	319,616

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Alphabet Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	132,170	100,118	73,795	59,972	76,033	40,269
Depreciation, depletion & amortization	21,136	15,311	11,946	15,928	12,441	13,697
Deferred taxes	8,348	−5,257	−7,763	−8,081	1,808	1,390
Non-cash items	2,441	23,533	27,613	25,911	2,893	7,941
Changes in working capital	618	−8,406	−3,845	−2,235	−1,523	1,827
Cash from operations	164,713	125,299	101,746	91,495	91,652	65,124
Investing activities
Capital expenditures	−91,447	−52,535	−32,251	−31,485	−24,640	−22,281
Other investing cash flows	−28,844	6,999	5,188	11,187	−10,883	−10,492
Cash from investing	−120,291	−45,536	−27,063	−20,298	−35,523	−32,773
Financing activities
Financing cash flow items	−13,767	−11,036	−9,829	−9,265	−9,852	−2,920
Cash dividends paid	−10,049	−7,363	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−13,572	−61,334	−62,264	−60,492	−51,510	−21,488
Cash from financing	−37,388	−79,733	−72,093	−69,757	−61,362	−24,408
Foreign exchange effects	208	−612	−421	−506	−287	24.0
Net change in cash	7,242	−582	2,169	934	−5,520	7,967
Free cash flow	73,266	72,764	69,495	60,010	67,012	42,843

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.