Alphabet (GOOGL) Financials

$397.20 +8.77 (+2.26%)

As of 11:10 AM Eastern

Annual Income Statements for Alphabet

This table shows Alphabet's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	15,826	19,478	12,662	30,736	34,343	40,269	76,033	59,972	73,795	100,118	132,170
Consolidated Net Income / (Loss)	16,348	19,478	12,662	30,736	34,343	40,269	76,033	59,972	73,795	100,118	132,170
Net Income / (Loss) Continuing Operations	16,348	19,478	12,662	30,736	34,343	40,269	76,033	59,972	73,795	100,118	132,170
Total Pre-Tax Income	19,651	24,150	27,193	34,913	39,625	48,082	90,734	71,328	85,717	119,815	158,826
Total Operating Income	19,360	23,716	26,178	27,524	34,231	41,224	78,714	74,842	84,293	112,390	129,039
Total Gross Profit	46,825	55,134	65,272	77,270	89,961	97,795	146,698	156,633	174,062	203,712	240,301
Total Revenue	74,989	90,272	110,855	136,819	161,857	182,527	257,637	282,836	307,394	350,018	402,836
Operating Revenue	74,989	90,272	110,855	136,819	161,857	182,527	257,637	282,836	307,394	350,018	402,836
Total Cost of Revenue	28,164	35,138	45,583	59,549	71,896	84,732	110,939	126,203	133,332	146,306	162,535
Operating Cost of Revenue	28,164	35,138	45,583	59,549	71,896	84,732	110,939	126,203	133,332	146,306	162,535
Total Operating Expenses	27,465	31,418	39,094	49,746	55,730	56,571	67,984	81,791	89,769	91,322	111,262
Selling, General & Admin Expense	6,136	6,985	6,840	6,923	9,551	11,052	13,510	15,724	16,425	14,188	21,482
Marketing Expense	9,047	10,485	12,893	16,333	18,464	17,946	22,912	26,567	27,917	27,808	28,693
Research & Development Expense	12,282	13,948	16,625	21,419	26,018	27,573	31,562	39,500	45,427	49,326	61,087
Total Other Income / (Expense), net	291	434	1,015	7,389	5,394	6,858	12,020	-3,514	1,424	7,425	29,787
Other Income / (Expense), net	291	434	1,015	7,389	5,394	6,858	12,020	-3,514	1,424	7,425	29,787
Income Tax Expense	3,303	4,672	14,531	4,177	5,282	7,813	14,701	11,356	11,922	19,697	26,656
Basic Earnings per Share	$47.74	$28.32	$18.27	$44.22	$49.59	$2.96	$5.69	$4.59	$5.84	$8.13	$10.91
Weighted Average Basic Shares Outstanding	684.80M	687.80M	693M	695.10M	687.29M	674.14M	660.97M	12.81B	12.43B	12.19B	12.10B
Diluted Earnings per Share	$47.18	$27.85	$18.00	$43.70	$49.16	$2.93	$5.61	$4.56	$5.80	$8.04	$10.81
Weighted Average Diluted Shares Outstanding	684.80M	687.80M	693M	695.10M	687.29M	674.14M	660.97M	12.81B	12.43B	12.19B	12.10B
Weighted Average Basic & Diluted Shares Outstanding	684.80M	687.80M	693M	695.10M	687.29M	674.14M	660.97M	12.81B	12.43B	12.19B	12.10B
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	$0.60	$0.83

This table shows Alphabet's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	19,689	20,687	23,662	23,619	26,301	26,536	34,540	28,196	34,979	34,455	62,578
Consolidated Net Income / (Loss)	19,689	20,687	23,662	23,619	26,301	26,536	34,540	28,196	34,979	34,455	62,578
Net Income / (Loss) Continuing Operations	19,689	20,687	23,662	23,619	26,301	26,536	34,540	28,196	34,979	34,455	62,578
Total Pre-Tax Income	21,197	24,412	28,315	27,551	31,706	32,243	41,789	33,933	43,987	39,117	77,412
Total Operating Income	21,343	23,697	25,472	27,425	28,521	30,972	30,606	31,271	31,228	35,934	39,696
Total Gross Profit	43,464	48,735	46,827	49,235	51,794	55,856	53,873	57,389	60,977	68,062	68,625
Total Revenue	76,693	86,310	80,539	84,742	88,268	96,469	90,234	96,428	102,346	113,828	109,896
Operating Revenue	76,693	86,310	80,539	84,742	88,268	96,469	90,234	96,428	102,346	113,828	109,896
Total Cost of Revenue	33,229	37,575	33,712	35,507	36,474	40,613	36,361	39,039	41,369	45,766	41,271
Operating Cost of Revenue	33,229	37,575	33,712	35,507	36,474	40,613	36,361	39,039	41,369	45,766	41,271
Total Operating Expenses	22,121	25,038	21,355	21,810	23,273	24,884	23,267	26,118	29,749	32,128	28,929
Selling, General & Admin Expense	3,979	5,206	3,026	3,158	3,599	4,405	3,539	5,209	7,393	5,341	4,291
Marketing Expense	6,884	7,719	6,426	6,792	7,227	7,363	6,172	7,101	7,205	8,215	7,606
Research & Development Expense	11,258	12,113	11,903	11,860	12,447	13,116	13,556	13,808	15,151	18,572	17,032
Total Other Income / (Expense), net	-146	715	2,843	126	3,185	1,271	11,183	2,662	12,759	3,183	37,716
Other Income / (Expense), net	-146	715	2,843	126	3,185	1,271	11,183	2,662	12,759	3,183	37,716
Income Tax Expense	1,508	3,725	4,653	3,932	5,405	5,707	7,249	5,737	9,008	4,662	14,834
Basic Earnings per Share	$1.56	$1.66	$1.91	$1.91	$2.14	$2.17	$2.84	$2.33	$2.89	$2.85	$5.17
Weighted Average Basic Shares Outstanding	12.52B	12.43B	12.36B	12.31B	12.24B	12.19B	12.14B	12.09B	12.07B	12.10B	12.12B
Diluted Earnings per Share	$1.55	$1.66	$1.89	$1.89	$2.12	$2.14	$2.81	$2.31	$2.87	$2.82	$5.11
Weighted Average Diluted Shares Outstanding	12.52B	12.43B	12.36B	12.31B	12.24B	12.19B	12.14B	12.09B	12.07B	12.10B	12.12B
Weighted Average Basic & Diluted Shares Outstanding	12.52B	12.43B	12.36B	12.31B	12.24B	12.19B	12.14B	12.09B	12.07B	12.10B	12.12B
Cash Dividends to Common per Share	-	-	-	$0.20	-	-	$0.20	$0.21	-	-	$0.21

This table details how cash moves in and out of Alphabet's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-1,798	-3,631	-2,608	6,288	1,797	7,967	-5,520	934	2,169	-582	7,242
Net Cash From Operating Activities	26,572	36,036	37,091	47,971	54,520	65,124	91,652	91,495	101,746	125,299	164,713
Net Cash From Continuing Operating Activities	26,572	36,036	37,091	47,971	54,520	65,124	91,652	91,495	101,746	125,299	164,713
Net Income / (Loss) Continuing Operations	16,348	19,478	12,662	30,736	34,343	40,269	76,033	59,972	73,795	100,118	132,170
Consolidated Net Income / (Loss)	16,348	19,478	12,662	30,736	34,343	40,269	76,033	59,972	73,795	100,118	132,170
Depreciation Expense	4,132	5,267	6,103	8,164	10,856	12,905	10,273	13,475	11,946	15,311	21,136
Non-Cash Adjustments To Reconcile Net Income	5,749	7,152	8,010	2,514	7,404	7,941	5,061	28,364	27,613	23,533	2,441
Changes in Operating Assets and Liabilities, net	-588	3,262	9,504	5,686	992	3,217	285	-10,316	-11,608	-13,663	8,966
Net Cash From Investing Activities	-23,711	-31,165	-31,401	-28,504	-29,491	-32,773	-35,523	-20,298	-27,063	-45,536	-120,291
Net Cash From Continuing Investing Activities	-23,711	-31,165	-31,401	-28,504	-29,491	-32,773	-35,523	-20,298	-27,063	-45,536	-120,291
Purchase of Property, Plant & Equipment	-9,950	-10,212	-13,184	-25,139	-23,548	-22,281	-24,640	-31,485	-32,251	-52,535	-91,447
Acquisitions	-236	-986	-287	-1,491	-2,515	-738	-2,618	-6,969	-495	-2,931	-1,592
Purchase of Investments	-77,044	-88,046	-93,940	-52,231	-102,247	-143,751	-138,034	-81,405	-80,885	-91,713	-109,489
Sale and/or Maturity of Investments	63,059	67,389	75,911	50,259	98,230	133,929	129,228	97,972	87,619	104,310	84,607
Other Investing Activities, net	425	450	99	98	589	68	541	1,589	-1,051	-2,667	-2,370
Net Cash From Financing Activities	-4,225	-8,332	-8,298	-13,179	-23,209	-24,408	-61,362	-69,757	-72,093	-79,733	-37,388
Net Cash From Continuing Financing Activities	-4,225	-8,332	-8,298	-13,179	-23,209	-24,408	-61,362	-69,757	-72,093	-79,733	-37,388
Repayment of Debt	-13,728	-10,064	-4,377	-6,827	-585	-2,100	-21,435	-54,068	-11,550	-12,701	-32,427
Repurchase of Common Equity	-1,780	-3,693	-4,846	-9,075	-18,396	-31,149	-50,274	-59,296	-61,504	-62,222	-45,709
Payment of Dividends	-47	-	-	-	-	-	-	0.00	0.00	-7,363	-10,049
Issuance of Debt	13,705	8,729	4,291	6,766	317	11,761	20,199	52,872	10,790	13,589	64,564
Issuance of Common Equity	0.00	0.00	800	950	220	2,800	310	35	8.00	1,154	400
Other Financing Activities, net	-2,375	-3,304	-4,166	-4,993	-4,765	-5,720	-10,162	-9,300	-9,837	-12,190	-14,167
Effect of Exchange Rate Changes	-434	-170	-	-	-23	24	-287	-506	-421	-612	208

This table details how cash moves in and out of Alphabet's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	4,773	-6,654	445	2,732	-7,266	3,507	-202	-2,228	2,054	7,618	7,355
Net Cash From Operating Activities	30,656	18,915	28,848	26,640	30,698	39,113	36,150	27,747	48,414	52,402	45,790
Net Cash From Continuing Operating Activities	30,656	18,915	28,848	26,640	30,698	39,113	36,150	27,747	48,414	52,402	45,790
Net Income / (Loss) Continuing Operations	19,689	20,687	23,662	23,619	26,301	26,536	34,540	28,196	34,979	34,455	62,578
Consolidated Net Income / (Loss)	19,689	20,687	23,662	23,619	26,301	26,536	34,540	28,196	34,979	34,455	62,578
Depreciation Expense	3,171	3,316	3,413	3,708	3,985	4,205	4,487	4,998	5,611	6,040	6,482
Non-Cash Adjustments To Reconcile Net Income	7,503	6,853	3,817	7,740	5,272	6,704	-3,963	5,107	-4,685	5,982	-28,788
Changes in Operating Assets and Liabilities, net	293	-11,941	-2,044	-8,427	-4,860	1,668	1,086	-10,554	12,509	5,925	5,518
Net Cash From Investing Activities	-7,150	-6,167	-8,564	-2,781	-18,011	-16,180	-16,194	-24,544	-27,777	-51,776	-63,389
Net Cash From Continuing Investing Activities	-7,150	-6,167	-8,564	-2,781	-18,011	-16,180	-16,194	-24,544	-27,777	-51,776	-63,389
Purchase of Property, Plant & Equipment	-8,055	-11,019	-12,012	-13,186	-13,061	-14,276	-17,197	-22,446	-23,953	-27,851	-35,674
Acquisitions	-126	-29	-61	-26	-2,753	-91	-340	-13	-1,072	-167	-33,621
Purchase of Investments	-14,496	-29,287	-21,890	-23,320	-23,058	-23,445	-19,411	-22,771	-21,964	-45,343	-31,947
Sale and/or Maturity of Investments	16,155	34,234	25,298	33,884	23,329	21,799	20,604	21,199	20,694	22,110	38,849
Other Investing Activities, net	-628	-66	101	-133	-2,468	-167	150	-513	-1,482	-525	-996
Net Cash From Financing Activities	-18,382	-19,308	-19,714	-20,889	-20,094	-19,036	-20,201	-5,832	-18,383	7,028	25,077
Net Cash From Continuing Financing Activities	-18,382	-19,308	-19,714	-20,889	-20,094	-19,036	-20,201	-5,832	-18,383	7,028	25,077
Repayment of Debt	-1,414	-1,929	-3,079	-2,423	-3,449	-3,750	-4,521	-13,876	-7,697	-6,333	-1,477
Repurchase of Common Equity	-15,787	-16,191	-15,696	-15,684	-15,291	-15,551	-15,068	-13,638	-11,504	-5,499	0.00
Payment of Dividends	-	-	0.00	-	-2,455	-2,442	-2,434	-2,543	-2,536	-2,536	-2,542
Issuance of Debt	1,248	1,492	1,982	2,893	3,819	4,895	4,532	26,846	6,624	26,562	31,379
Issuance of Common Equity	3.00	-	8.00	-	285	861	400	-	-	-	3,200
Other Financing Activities, net	-2,432	-2,680	-2,929	-3,209	-3,003	-3,049	-3,110	-2,621	-3,270	-5,166	-5,483
Effect of Exchange Rate Changes	-351	-94	-125	-238	141	-390	43	401	-200	-36	-123

This table presents Alphabet's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
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 Current Assets	90,114	105,408	124,308	135,676	152,578	174,296	188,143	164,795	171,530	163,711	206,038
Cash & Equivalents	16,549	12,918	10,715	16,701	18,498	26,465	20,945	21,879	24,048	23,466	30,708
Short-Term Investments	56,967	73,415	91,156	92,439	101,177	110,229	118,704	91,883	86,868	72,191	96,135
Accounts Receivable	11,556	14,137	18,336	20,838	25,326	30,930	39,304	40,258	47,964	52,340	62,886
Other Current Assets	-	4,575	2,983	4,236	4,412	5,490	8,020	10,775	12,650	15,714	16,309
Plant, Property, & Equipment, net	29,016	34,234	42,383	59,719	73,646	84,749	97,599	112,668	134,345	171,036	246,597
Plant, Property & Equipment, gross	29,016	34,234	42,383	59,719	73,646	-	-	-	-	171,036	246,597
Total Noncurrent Assets	28,331	27,855	30,604	37,397	49,685	60,571	73,526	87,801	96,517	115,509	142,646
Long-Term Investments	5,183	5,878	7,813	13,859	13,078	20,703	29,549	30,492	31,008	37,982	68,687
Goodwill	15,869	16,468	16,747	17,888	20,624	21,175	22,956	28,960	29,198	31,885	33,380
Intangible Assets	3,847	3,307	2,692	2,220	1,979	1,445	1,417	-	-	-	1,283
Noncurrent Deferred & Refundable Income Taxes	251	383	680	737	721	1,084	1,284	5,261	12,169	17,180	9,113
Other Noncurrent Operating Assets	3,181	1,819	2,672	2,693	13,283	16,164	18,320	23,088	24,142	28,462	30,183
Total Liabilities & Shareholders' Equity	147,461	167,497	197,295	232,792	275,909	319,616	359,268	365,264	402,392	450,256	595,281
Total Liabilities	27,130	28,461	44,793	55,164	74,467	97,072	107,633	109,120	119,013	125,172	180,016
Total Current Liabilities	19,310	16,756	24,183	34,620	45,221	56,834	64,254	69,300	81,814	89,122	102,745
Accounts Payable	1,931	2,041	3,137	4,378	5,561	5,589	6,037	5,128	7,493	7,987	12,200
Accrued Expenses	7,097	9,086	14,152	21,550	28,983	36,131	41,040	46,236	55,044	61,030	66,421
Current Deferred Revenue	788	1,099	1,432	-	1,908	2,543	3,288	3,908	4,137	5,036	6,578
Current Employee Benefit Liabilities	3,539	3,976	4,581	6,839	8,495	11,086	13,889	14,028	15,140	15,069	17,546
Total Noncurrent Liabilities	7,820	11,705	20,610	20,544	29,246	40,238	43,379	39,820	37,199	36,050	77,271
Long-Term Debt	1,995	3,935	3,969	4,012	4,554	13,932	14,817	14,701	11,870	10,883	46,547
Noncurrent Deferred Revenue	151	202	13,152	11,723	10,243	9,330	9,711	9,857	8,474	8,782	9,531
Other Noncurrent Operating Liabilities	1,822	2,665	3,059	3,545	12,748	13,415	13,594	14,748	16,855	16,385	21,193
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	120,331	139,036	152,502	177,628	201,442	222,544	251,635	256,144	283,379	325,084	415,265
Total Preferred & Common Equity	120,331	139,036	152,502	177,628	201,442	222,544	251,635	256,144	283,379	325,084	415,265
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	120,331	139,036	152,502	177,628	201,442	222,544	251,635	256,144	283,379	325,084	415,265
Common Stock	32,982	36,307	40,247	45,049	50,552	58,510	61,774	68,184	76,534	84,800	93,126
Retained Earnings	89,223	105,131	113,247	134,885	152,122	163,401	191,484	195,563	211,247	245,084	324,055
Accumulated Other Comprehensive Income / (Loss)	-1,874	-2,402	-992	-2,306	-1,232	633	-1,623	-7,603	-4,402	-4,800	-1,916

This table presents Alphabet's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	383,044	396,711	402,392	407,350	414,770	430,266	450,256	475,374	502,053	536,469	703,919
Total Current Assets	168,788	176,310	171,530	165,471	161,995	157,541	163,711	162,052	166,216	173,947	213,753
Cash & Equivalents	25,929	30,702	24,048	24,493	27,225	19,959	23,466	23,264	21,036	23,090	38,063
Short-Term Investments	92,403	89,233	86,868	83,597	73,500	73,271	72,191	72,064	74,112	75,406	88,777
Accounts Receivable	38,804	41,020	47,964	44,552	47,087	49,104	52,340	51,000	55,048	57,148	62,999
Other Current Assets	9,421	12,398	12,650	12,829	14,183	15,207	15,714	15,724	16,020	18,303	23,914
Plant, Property, & Equipment, net	121,208	125,705	134,345	143,182	151,155	161,270	171,036	185,062	203,231	223,787	281,020
Plant, Property & Equipment, gross	121,208	125,705	-	-	-	-	-	-	203,231	223,787	281,020
Total Noncurrent Assets	93,048	94,696	96,517	98,697	101,620	111,455	115,509	128,260	132,606	138,735	209,146
Long-Term Investments	31,224	30,907	31,008	33,994	34,172	36,177	37,982	51,029	52,574	63,800	106,946
Goodwill	29,210	29,146	29,198	29,183	29,185	31,935	31,885	32,173	32,335	33,269	57,774
Intangible Assets	1,966	1,833	-	-	-	-	-	-	-	-	9,444
Noncurrent Deferred & Refundable Income Taxes	9,357	10,983	12,169	11,687	14,958	15,915	17,180	18,386	19,289	10,331	1,995
Other Noncurrent Operating Assets	21,291	21,827	24,142	23,833	23,305	27,428	28,462	26,672	28,408	31,335	32,987
Total Liabilities & Shareholders' Equity	383,044	396,711	402,392	407,350	414,770	430,266	450,256	475,374	502,053	536,469	703,919
Total Liabilities	115,903	123,509	119,013	114,506	114,017	116,147	125,172	130,107	139,137	149,602	225,173
Total Current Liabilities	77,709	86,295	81,814	76,997	77,913	80,803	89,122	91,654	87,310	99,550	111,188
Accounts Payable	5,313	5,803	7,493	6,198	6,092	7,049	7,987	8,497	8,347	10,546	16,852
Accrued Expenses	57,290	63,627	55,044	57,123	56,197	55,950	61,030	68,265	61,826	69,518	73,227
Current Deferred Revenue	3,846	4,303	4,137	3,973	4,251	4,896	5,036	4,908	4,969	5,542	7,162
Current Employee Benefit Liabilities	11,260	12,562	15,140	9,703	11,373	12,908	15,069	9,984	12,168	13,944	13,947
Total Noncurrent Liabilities	38,194	37,214	37,199	37,509	36,104	35,344	36,050	38,453	51,827	50,052	113,985
Long-Term Debt	13,705	13,781	11,870	13,228	13,238	12,297	10,883	10,886	23,607	21,607	77,501
Noncurrent Deferred Revenue	9,420	8,922	8,474	10,155	8,688	9,234	8,782	9,773	10,027	10,072	12,457
Other Noncurrent Operating Liabilities	14,511	13,983	16,855	13,640	13,461	13,107	16,385	17,794	18,193	18,373	24,027
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	267,141	273,202	283,379	292,844	300,753	314,119	325,084	345,267	362,916	386,867	478,746
Total Preferred & Common Equity	267,141	273,202	283,379	292,844	300,753	314,119	325,084	345,267	362,916	386,867	478,746
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	267,141	273,202	283,379	292,844	300,753	314,119	325,084	345,267	362,916	386,867	478,746
Common Stock	72,248	74,591	76,534	77,913	79,732	82,030	84,800	86,725	89,283	91,695	96,902
Retained Earnings	200,884	205,647	211,247	219,770	226,033	235,317	245,084	262,628	275,760	297,226	384,024
Accumulated Other Comprehensive Income / (Loss)	-5,991	-7,036	-4,402	-4,839	-5,012	-3,228	-4,800	-4,086	-2,127	-2,054	-2,180

This table displays calculated financial ratios and metrics derived from Alphabet's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.62%	20.38%	22.80%	23.42%	18.30%	12.77%	41.15%	9.78%	8.68%	13.87%	15.09%
EBITDA Growth	11.13%	22.58%	12.59%	28.85%	16.97%	20.18%	63.50%	-16.04%	15.16%	38.36%	33.18%
EBIT Growth	13.86%	22.89%	12.60%	28.39%	13.50%	21.34%	88.71%	-21.39%	20.17%	39.78%	32.56%
NOPAT Growth	23.72%	18.76%	-36.27%	98.79%	22.44%	16.37%	91.05%	-4.60%	15.32%	29.41%	14.34%
Net Income Growth	15.65%	19.15%	-34.99%	142.74%	11.74%	17.26%	88.81%	-21.12%	23.05%	35.67%	32.01%
EPS Growth	14.68%	-40.97%	-35.37%	142.78%	12.49%	17.26%	88.81%	-18.72%	27.19%	38.62%	34.45%
Operating Cash Flow Growth	15.41%	35.62%	2.93%	29.33%	13.65%	19.45%	40.73%	-0.17%	11.20%	23.15%	31.46%
Free Cash Flow Firm Growth	148.13%	52.17%	6.19%	-23.42%	21.73%	90.42%	66.56%	-29.71%	36.46%	-2.02%	-3.30%
Invested Capital Growth	14.98%	8.34%	-7.83%	25.34%	24.90%	7.97%	22.98%	30.17%	21.12%	31.96%	31.61%
Revenue Q/Q Growth	4.50%	5.54%	5.98%	5.35%	4.38%	6.30%	7.70%	0.26%	3.45%	2.99%	4.50%
EBITDA Q/Q Growth	3.39%	6.84%	4.60%	6.31%	2.93%	15.51%	3.33%	-7.56%	9.32%	6.90%	5.09%
EBIT Q/Q Growth	3.55%	7.37%	4.46%	6.25%	1.62%	19.91%	6.72%	-9.23%	9.26%	6.99%	4.52%
NOPAT Q/Q Growth	10.49%	0.48%	-39.89%	57.13%	6.87%	11.26%	9.57%	-6.05%	8.33%	6.13%	5.84%
Net Income Q/Q Growth	2.05%	2.15%	-39.75%	63.77%	5.28%	12.76%	7.67%	-10.48%	10.58%	6.20%	6.37%
EPS Q/Q Growth	109.41%	0.65%	-39.78%	64.16%	3.93%	12.76%	7.67%	-11.97%	8.82%	4.42%	6.71%
Operating Cash Flow Q/Q Growth	-1.49%	8.44%	2.36%	6.01%	2.71%	14.51%	2.52%	-1.42%	-4.41%	19.22%	8.78%
Free Cash Flow Firm Q/Q Growth	20.54%	14.87%	1.60%	-13.66%	-11.96%	70.31%	-2.52%	-7.02%	-12.61%	62.61%	-16.95%
Invested Capital Q/Q Growth	7.73%	3.00%	-12.80%	7.13%	12.02%	-0.62%	7.17%	4.10%	12.62%	2.70%	8.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.44%	61.08%	58.88%	56.48%	55.58%	53.58%	56.94%	55.38%	56.63%	58.20%	59.65%
EBITDA Margin	32.96%	33.56%	30.77%	32.12%	31.76%	33.85%	39.21%	29.98%	31.77%	38.61%	44.67%
Operating Margin	25.82%	26.27%	23.61%	20.12%	21.15%	22.59%	30.55%	26.46%	27.42%	32.11%	32.03%
EBIT Margin	26.21%	26.75%	24.53%	25.52%	24.48%	26.34%	35.22%	25.22%	27.89%	34.23%	39.43%
Profit (Net Income) Margin	21.80%	21.58%	11.42%	22.46%	21.22%	22.06%	29.51%	21.20%	24.01%	28.60%	32.81%
Tax Burden Percent	83.19%	80.65%	46.56%	88.04%	86.67%	83.75%	83.80%	84.08%	86.09%	83.56%	83.22%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	16.81%	19.35%	53.44%	11.96%	13.33%	16.25%	16.20%	15.92%	13.91%	16.44%	16.78%
Return on Invested Capital (ROIC)	36.77%	39.19%	24.99%	45.97%	44.99%	45.33%	74.81%	56.22%	51.85%	52.81%	45.83%
ROIC Less NNEP Spread (ROIC-NNEP)	36.42%	38.76%	24.50%	40.18%	41.21%	41.10%	68.05%	58.30%	50.91%	47.90%	27.59%
Return on Net Nonoperating Assets (RNNOA)	-15.16%	-24.17%	-16.31%	-27.35%	-26.87%	-26.34%	-42.74%	-32.60%	-24.50%	-19.90%	-10.13%
Return on Equity (ROE)	21.61%	15.02%	8.69%	18.62%	18.12%	19.00%	32.07%	23.62%	27.36%	32.91%	35.70%
Cash Return on Invested Capital (CROIC)	22.84%	31.18%	33.14%	23.48%	22.85%	37.67%	54.20%	30.01%	32.75%	25.26%	18.53%
Operating Return on Assets (OROA)	9.68%	15.34%	14.91%	16.24%	15.58%	16.15%	26.73%	19.69%	22.33%	28.10%	30.38%
Return on Assets (ROA)	8.06%	12.37%	6.94%	14.29%	13.50%	13.52%	22.40%	16.55%	19.23%	23.48%	25.28%
Return on Common Equity (ROCE)	21.61%	15.02%	8.69%	18.62%	18.12%	19.00%	32.07%	23.62%	27.36%	32.91%	35.70%
Return on Equity Simple (ROE_SIMPLE)	13.59%	14.01%	8.30%	17.30%	17.05%	18.09%	30.22%	23.41%	26.04%	30.80%	0.00%
Net Operating Profit after Tax (NOPAT)	16,106	19,128	12,189	24,231	29,668	34,525	65,961	62,927	72,569	93,914	107,382
NOPAT Margin	21.48%	21.19%	11.00%	17.71%	18.33%	18.92%	25.60%	22.25%	23.61%	26.83%	26.66%
Net Nonoperating Expense Percent (NNEP)	0.35%	0.43%	0.49%	5.79%	3.78%	4.23%	6.76%	-2.08%	0.94%	4.91%	18.24%
Return On Investment Capital (ROIC_SIMPLE)	12.83%	13.38%	7.79%	13.34%	14.40%	14.60%	24.76%	23.23%	24.58%	27.95%	23.25%
Cost of Revenue to Revenue	37.56%	38.92%	41.12%	43.52%	44.42%	46.42%	43.06%	44.62%	43.38%	41.80%	40.35%
SG&A Expenses to Revenue	8.18%	7.74%	6.17%	5.06%	5.90%	6.06%	5.24%	5.56%	5.34%	4.05%	5.33%
R&D to Revenue	16.38%	15.45%	15.00%	15.66%	16.07%	15.11%	12.25%	13.97%	14.78%	14.09%	15.16%
Operating Expenses to Revenue	36.63%	34.80%	35.27%	36.36%	34.43%	30.99%	26.39%	28.92%	29.20%	26.09%	27.62%
Earnings before Interest and Taxes (EBIT)	19,651	24,150	27,193	34,913	39,625	48,082	90,734	71,328	85,717	119,815	158,826
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24,714	30,294	34,108	43,948	51,406	61,779	101,007	84,803	97,663	135,126	179,962
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.41	3.90	4.76	4.07	4.55	0.26	0.38	4.39	6.10	7.09	9.10
Price to Tangible Book Value (P/TBV)	5.27	4.55	5.46	4.59	5.12	0.29	0.42	4.95	6.80	7.86	9.89
Price to Revenue (P/Rev)	7.07	6.01	6.55	5.28	5.66	0.32	0.37	3.98	5.62	6.59	9.38
Price to Earnings (P/E)	33.50	27.85	57.38	23.52	26.68	1.46	1.25	18.75	23.42	23.02	28.58
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.27%
Earnings Yield	2.98%	3.59%	1.74%	4.25%	3.75%	68.49%	79.79%	5.33%	4.27%	4.34%	3.50%
Enterprise Value to Invested Capital (EV/IC)	9.75	8.95	13.27	10.30	10.76	0.00	0.00	7.86	10.43	10.79	13.62
Enterprise Value to Revenue (EV/Rev)	6.09	5.03	5.60	4.41	4.87	0.00	0.00	3.52	5.20	6.23	9.01
Enterprise Value to EBITDA (EV/EBITDA)	18.48	14.99	18.20	13.74	15.33	0.00	0.00	11.73	16.37	16.15	20.16
Enterprise Value to EBIT (EV/EBIT)	23.24	18.81	22.83	17.30	19.89	0.00	0.00	13.95	18.65	18.21	22.84
Enterprise Value to NOPAT (EV/NOPAT)	28.36	23.74	50.93	24.92	26.56	0.00	0.00	15.81	22.03	23.24	33.79
Enterprise Value to Operating Cash Flow (EV/OCF)	17.19	12.60	16.74	12.59	14.45	0.00	0.00	10.88	15.71	17.42	22.03
Enterprise Value to Free Cash Flow (EV/FCFF)	45.67	29.84	38.41	48.79	52.30	0.00	0.00	29.62	34.87	48.59	83.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.03	0.03	0.02	0.02	0.06	0.06	0.06	0.04	0.03	0.11
Long-Term Debt to Equity	0.02	0.03	0.03	0.02	0.02	0.06	0.06	0.06	0.04	0.03	0.11
Financial Leverage	-0.42	-0.62	-0.67	-0.68	-0.65	-0.64	-0.63	-0.56	-0.48	-0.42	-0.37
Leverage Ratio	1.24	1.21	1.25	1.30	1.34	1.40	1.43	1.43	1.42	1.40	1.41
Compound Leverage Factor	1.24	1.21	1.25	1.30	1.34	1.40	1.43	1.43	1.42	1.40	1.41
Debt to Total Capital	4.16%	2.75%	2.54%	2.21%	2.21%	5.89%	5.56%	5.43%	4.02%	3.24%	10.08%
Short-Term Debt to Total Capital	2.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	1.59%	2.75%	2.54%	2.21%	2.21%	5.89%	5.56%	5.43%	4.02%	3.24%	10.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.84%	97.25%	97.46%	97.79%	97.79%	94.11%	94.44%	94.57%	95.98%	96.76%	89.92%
Debt to EBITDA	0.21	0.13	0.12	0.09	0.09	0.23	0.15	0.17	0.12	0.08	0.26
Net Debt to EBITDA	-2.97	-2.91	-3.10	-2.71	-2.49	-2.32	-1.53	-1.53	-1.33	-0.91	-0.83
Long-Term Debt to EBITDA	0.08	0.13	0.12	0.09	0.09	0.23	0.15	0.17	0.12	0.08	0.26
Debt to NOPAT	0.32	0.21	0.33	0.17	0.15	0.40	0.22	0.23	0.16	0.12	0.43
Net Debt to NOPAT	-4.56	-4.62	-8.67	-4.91	-4.32	-4.16	-2.34	-2.06	-1.79	-1.31	-1.39
Long-Term Debt to NOPAT	0.12	0.21	0.33	0.17	0.15	0.40	0.22	0.23	0.16	0.12	0.43
Altman Z-Score	14.10	13.96	12.16	10.28	9.68	2.59	3.24	8.67	11.18	13.66	15.12
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.67	6.29	5.14	3.92	3.37	3.07	2.93	2.38	2.10	1.84	2.01
Quick Ratio	4.41	6.00	4.97	3.75	3.21	2.95	2.79	2.22	1.94	1.66	1.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	10,002	15,220	16,162	12,377	15,066	28,689	47,786	33,590	45,835	44,911	43,428
Operating Cash Flow to CapEx	268.00%	361.37%	281.33%	190.82%	231.53%	292.28%	371.96%	290.60%	315.48%	238.51%	180.12%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.37	0.57	0.61	0.64	0.64	0.61	0.76	0.78	0.80	0.82	0.77
Accounts Receivable Turnover	4.95	7.03	6.83	6.99	7.01	6.49	7.34	7.11	6.97	6.98	6.99
Inventory Turnover	0.00	92.59	89.64	64.17	68.28	98.13	116.90	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.95	2.85	2.89	2.68	2.43	2.30	2.83	2.69	2.49	2.29	1.93
Accounts Payable Turnover	10.51	17.69	17.61	15.85	14.47	15.20	19.08	22.61	21.13	18.90	16.10
Days Sales Outstanding (DSO)	73.79	51.94	53.46	52.25	52.05	56.25	49.75	51.34	52.38	52.30	52.20
Days Inventory Outstanding (DIO)	0.00	3.94	4.07	5.69	5.35	3.72	3.12	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	34.74	20.63	20.73	23.03	25.23	24.02	19.13	16.15	17.28	19.31	22.67
Cash Conversion Cycle (CCC)	39.06	35.26	36.80	34.91	32.17	35.95	33.75	35.19	35.10	32.99	29.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	46,852	50,760	46,787	58,641	73,243	79,079	97,254	126,591	153,325	202,328	266,282
Invested Capital Turnover	1.71	1.85	2.27	2.60	2.45	2.40	2.92	2.53	2.20	1.97	1.72
Increase / (Decrease) in Invested Capital	6,104	3,908	-3,973	11,854	14,602	5,836	18,175	29,337	26,734	49,003	63,954
Enterprise Value (EV)	456,767	454,178	620,818	603,909	787,964	-84,670	-59,094	995,032	1,598,448	2,182,156	3,627,988
Market Capitalization	530,246	542,454	726,533	722,896	916,163	58,795	95,287	1,124,585	1,728,502	2,304,912	3,776,971
Book Value per Share	$174.97	$201.72	$219.49	$255.41	$292.08	$329.00	$379.10	$19.79	$22.64	$26.56	$34.41
Tangible Book Value per Share	$146.30	$173.03	$191.51	$226.50	$259.30	$295.56	$342.38	$17.55	$20.31	$23.95	$31.65
Total Capital	125,551	142,971	156,471	181,640	205,996	236,476	266,452	270,845	295,249	335,967	461,812
Total Debt	5,220	3,935	3,969	4,012	4,554	13,932	14,817	14,701	11,870	10,883	46,547
Total Long-Term Debt	1,995	3,935	3,969	4,012	4,554	13,932	14,817	14,701	11,870	10,883	46,547
Net Debt	-73,479	-88,276	-105,715	-118,987	-128,199	-143,465	-154,381	-129,553	-130,054	-122,756	-148,983
Capital Expenditures (CapEx)	9,915	9,972	13,184	25,139	23,548	22,281	24,640	31,485	32,251	52,535	91,447
Debt-free, Cash-free Net Working Capital (DFCFNWC)	513	2,319	-1,746	-8,084	-12,318	-19,232	-15,760	-18,267	-21,200	-21,068	-23,550
Debt-free Net Working Capital (DFNWC)	74,029	88,652	100,125	101,056	107,357	117,462	123,889	95,495	89,716	74,589	103,293
Net Working Capital (NWC)	70,804	88,652	100,125	101,056	107,357	117,462	123,889	95,495	89,716	74,589	103,293
Net Nonoperating Expense (NNE)	-242	-350	-473	-6,505	-4,675	-5,744	-10,072	2,955	-1,226	-6,204	-24,788
Net Nonoperating Obligations (NNO)	-73,479	-88,276	-105,715	-118,987	-128,199	-143,465	-154,381	-129,553	-130,054	-122,756	-148,983
Total Depreciation and Amortization (D&A)	5,063	6,144	6,915	9,035	11,781	13,697	10,273	13,475	11,946	15,311	21,136
Debt-free, Cash-free Net Working Capital to Revenue	0.68%	2.57%	-1.58%	-5.91%	-7.61%	-10.54%	-6.12%	-6.46%	-6.90%	-6.02%	-5.85%
Debt-free Net Working Capital to Revenue	98.72%	98.21%	90.32%	73.86%	66.33%	64.35%	48.09%	33.76%	29.19%	21.31%	25.64%
Net Working Capital to Revenue	94.42%	98.21%	90.32%	73.86%	66.33%	64.35%	48.09%	33.76%	29.19%	21.31%	25.64%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.39	$2.83	$1.83	$2.21	$2.48	$2.96	$5.69	$4.59	$5.84	$8.13	$10.91
Adjusted Weighted Average Basic Shares Outstanding	13.77B	13.83B	13.91B	13.90B	13.75B	13.48B	13.22B	12.81B	12.43B	12.19B	12.10B
Adjusted Diluted Earnings per Share	$2.36	$2.79	$1.80	$2.19	$2.46	$2.93	$5.61	$4.56	$5.80	$8.04	$10.81
Adjusted Weighted Average Diluted Shares Outstanding	13.77B	13.83B	13.91B	13.90B	13.75B	13.48B	13.22B	12.81B	12.43B	12.19B	12.10B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	13.77B	13.83B	13.91B	13.90B	13.75B	13.48B	13.22B	12.81B	12.43B	12.19B	12.10B
Normalized Net Operating Profit after Tax (NOPAT)	16,106	19,128	20,240	28,695	31,139	34,525	65,961	62,927	72,569	93,914	107,382
Normalized NOPAT Margin	21.48%	21.19%	18.26%	20.97%	19.24%	18.92%	25.60%	22.25%	23.61%	26.83%	26.66%
Pre Tax Income Margin	26.21%	26.75%	24.53%	25.52%	24.48%	26.34%	35.22%	25.22%	27.89%	34.23%	39.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.35%	7.60%
Augmented Payout Ratio	11.18%	18.96%	38.27%	29.53%	53.57%	77.35%	66.12%	98.87%	83.34%	69.50%	42.19%

This table displays calculated financial ratios and metrics derived from Alphabet's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	12,097,000,000.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	12,097,000,000.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5.17
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.00%	13.49%	15.41%	13.59%	15.09%	11.77%	12.04%	13.79%	15.95%	17.99%	21.79%
EBITDA Growth	20.16%	42.93%	52.25%	26.42%	46.47%	31.45%	45.85%	24.54%	38.97%	23.89%	81.29%
EBIT Growth	30.58%	42.37%	55.53%	25.79%	49.58%	32.08%	47.59%	23.16%	38.73%	21.32%	85.24%
NOPAT Growth	35.02%	39.17%	47.84%	28.38%	19.34%	26.94%	18.84%	10.52%	4.96%	24.17%	26.85%
Net Income Growth	41.55%	51.84%	57.21%	28.59%	33.58%	28.27%	45.97%	19.38%	32.99%	29.84%	81.18%
EPS Growth	46.23%	56.60%	61.54%	31.25%	36.77%	28.92%	48.68%	22.22%	35.38%	31.78%	81.85%
Operating Cash Flow Growth	31.27%	-19.90%	22.71%	-7.07%	0.14%	106.78%	25.31%	4.16%	57.71%	33.98%	26.67%
Free Cash Flow Firm Growth	132.69%	55.37%	-50.31%	-1,704.04%	-804.10%	-253.43%	-42.18%	-38.82%	34.60%	-37.38%	-292.84%
Invested Capital Growth	11.96%	21.12%	27.84%	36.41%	44.71%	31.96%	27.93%	33.34%	24.96%	31.61%	53.70%
Revenue Q/Q Growth	2.80%	12.54%	-6.69%	5.22%	4.16%	9.29%	-6.46%	6.86%	6.14%	11.22%	-3.45%
EBITDA Q/Q Growth	-1.45%	13.79%	14.43%	-1.48%	14.18%	2.12%	26.96%	-15.87%	27.40%	-8.95%	85.78%
EBIT Q/Q Growth	-3.22%	15.17%	15.99%	-2.70%	15.08%	1.69%	29.61%	-18.80%	29.63%	-11.07%	97.90%
NOPAT Q/Q Growth	8.25%	1.29%	6.00%	10.45%	0.63%	7.74%	-0.76%	2.72%	-4.43%	27.46%	1.38%
Net Income Q/Q Growth	7.19%	5.07%	14.38%	-0.18%	11.36%	0.89%	30.16%	-18.37%	24.06%	-1.50%	81.62%
EPS Q/Q Growth	7.64%	7.10%	13.86%	0.00%	12.17%	0.94%	31.31%	-17.79%	24.24%	-1.74%	81.21%
Operating Cash Flow Q/Q Growth	6.94%	-38.30%	52.51%	-7.65%	15.23%	27.41%	-7.58%	-23.24%	74.48%	8.24%	-12.62%
Free Cash Flow Firm Q/Q Growth	248.94%	-225.89%	-116.84%	-68.40%	-53.17%	36.81%	12.77%	-64.41%	27.84%	-32.74%	-149.44%
Invested Capital Q/Q Growth	3.69%	12.62%	6.95%	9.21%	10.00%	2.70%	3.69%	13.83%	3.09%	8.17%	21.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.67%	56.47%	58.14%	58.10%	58.68%	57.90%	59.70%	59.51%	59.58%	59.79%	62.45%
EBITDA Margin	31.77%	32.13%	39.39%	36.89%	40.43%	37.78%	51.28%	40.37%	48.46%	39.67%	76.34%
Operating Margin	27.83%	27.46%	31.63%	32.36%	32.31%	32.11%	33.92%	32.43%	30.51%	31.57%	36.12%
EBIT Margin	27.64%	28.28%	35.16%	32.51%	35.92%	33.42%	46.31%	35.19%	42.98%	34.37%	70.44%
Profit (Net Income) Margin	25.67%	23.97%	29.38%	27.87%	29.80%	27.51%	38.28%	29.24%	34.18%	30.27%	56.94%
Tax Burden Percent	92.89%	84.74%	83.57%	85.73%	82.95%	82.30%	82.65%	83.09%	79.52%	88.08%	80.84%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	7.11%	15.26%	16.43%	14.27%	17.05%	17.70%	17.35%	16.91%	20.48%	11.92%	19.16%
Return on Invested Capital (ROIC)	59.60%	51.10%	57.54%	58.69%	54.69%	52.01%	53.96%	47.90%	42.21%	47.81%	46.36%
ROIC Less NNEP Spread (ROIC-NNEP)	59.70%	50.63%	55.72%	58.60%	52.61%	51.18%	46.97%	46.10%	34.34%	45.74%	25.46%
Return on Net Nonoperating Assets (RNNOA)	-30.49%	-24.36%	-26.31%	-26.57%	-22.77%	-21.27%	-19.45%	-17.07%	-12.63%	-16.79%	-9.01%
Return on Equity (ROE)	29.11%	26.74%	31.23%	32.11%	31.92%	30.74%	34.50%	30.83%	29.58%	31.02%	37.34%
Cash Return on Invested Capital (CROIC)	40.70%	32.75%	29.91%	23.71%	16.58%	25.26%	27.86%	19.49%	23.60%	18.53%	0.43%
Operating Return on Assets (OROA)	21.76%	22.65%	28.80%	26.76%	29.52%	27.44%	37.74%	28.51%	34.27%	26.48%	50.47%
Return on Assets (ROA)	20.21%	19.20%	24.06%	22.94%	24.49%	22.58%	31.20%	23.69%	27.26%	23.33%	40.80%
Return on Common Equity (ROCE)	29.11%	26.74%	31.23%	32.11%	31.92%	30.74%	34.50%	30.83%	29.58%	31.02%	37.34%
Return on Equity Simple (ROE_SIMPLE)	24.43%	0.00%	28.14%	29.15%	30.01%	0.00%	32.15%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	19,825	20,081	21,286	23,511	23,659	25,490	25,297	25,984	24,833	31,651	32,089
NOPAT Margin	25.85%	23.27%	26.43%	27.74%	26.80%	26.42%	28.03%	26.95%	24.26%	27.81%	29.20%
Net Nonoperating Expense Percent (NNEP)	-0.10%	0.47%	1.82%	0.08%	2.08%	0.83%	6.99%	1.80%	7.87%	2.06%	20.90%
Return On Investment Capital (ROIC_SIMPLE)	6.91%	6.80%	6.95%	7.49%	7.25%	7.59%	7.10%	6.72%	6.08%	6.85%	5.77%
Cost of Revenue to Revenue	43.33%	43.53%	41.86%	41.90%	41.32%	42.10%	40.30%	40.49%	40.42%	40.21%	37.55%
SG&A Expenses to Revenue	5.19%	6.03%	3.76%	3.73%	4.08%	4.57%	3.92%	5.40%	7.22%	4.69%	3.90%
R&D to Revenue	14.68%	14.03%	14.78%	14.00%	14.10%	13.60%	15.02%	14.32%	14.80%	16.32%	15.50%
Operating Expenses to Revenue	28.84%	29.01%	26.52%	25.74%	26.37%	25.79%	25.79%	27.09%	29.07%	28.23%	26.32%
Earnings before Interest and Taxes (EBIT)	21,197	24,412	28,315	27,551	31,706	32,243	41,789	33,933	43,987	39,117	77,412
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24,368	27,728	31,728	31,259	35,691	36,448	46,276	38,931	49,598	45,157	83,894
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.97	6.10	6.34	7.43	6.45	7.09	5.44	5.87	7.58	9.10	7.27
Price to Tangible Book Value (P/TBV)	6.73	6.80	7.04	8.23	7.18	7.86	5.99	6.45	8.30	9.89	8.45
Price to Revenue (P/Rev)	5.49	5.62	5.83	6.81	5.96	6.59	5.22	5.74	7.61	9.38	8.23
Price to Earnings (P/E)	24.43	23.42	22.53	25.49	21.49	23.02	16.91	18.44	23.61	28.58	21.71
Dividend Yield	0.00%	0.00%	0.00%	0.11%	0.24%	0.32%	0.52%	0.46%	0.34%	0.27%	0.29%
Earnings Yield	4.09%	4.27%	4.44%	3.92%	4.65%	4.34%	5.91%	5.42%	4.24%	3.50%	4.61%
Enterprise Value to Invested Capital (EV/IC)	10.97	10.43	10.53	11.80	9.69	10.79	8.30	8.41	11.34	13.62	10.30
Enterprise Value to Revenue (EV/Rev)	5.02	5.20	5.43	6.44	5.62	6.23	4.84	5.40	7.25	9.01	7.86
Enterprise Value to EBITDA (EV/EBITDA)	16.71	16.37	15.91	18.36	15.10	16.15	11.63	12.76	16.31	20.16	15.27
Enterprise Value to EBIT (EV/EBIT)	19.03	18.65	18.03	20.82	17.04	18.21	13.06	14.37	18.38	22.84	17.09
Enterprise Value to NOPAT (EV/NOPAT)	22.29	22.03	21.75	24.97	21.57	23.24	17.79	19.99	27.53	33.79	29.19
Enterprise Value to Operating Cash Flow (EV/OCF)	14.03	15.71	16.13	20.11	18.16	17.42	13.13	15.01	18.44	22.03	19.06
Enterprise Value to Free Cash Flow (EV/FCFF)	28.46	34.87	39.53	57.41	69.10	48.59	33.44	49.29	53.41	83.54	2,912.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.04	0.05	0.04	0.04	0.03	0.03	0.07	0.06	0.11	0.16
Long-Term Debt to Equity	0.05	0.04	0.05	0.04	0.04	0.03	0.03	0.07	0.06	0.11	0.16
Financial Leverage	-0.51	-0.48	-0.47	-0.45	-0.43	-0.42	-0.41	-0.37	-0.37	-0.37	-0.35
Leverage Ratio	1.43	1.42	1.40	1.40	1.41	1.40	1.38	1.38	1.38	1.41	1.43
Compound Leverage Factor	1.43	1.42	1.40	1.40	1.41	1.40	1.38	1.38	1.38	1.41	1.43
Debt to Total Capital	4.80%	4.02%	4.32%	4.22%	3.77%	3.24%	3.06%	6.11%	5.29%	10.08%	13.93%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	4.80%	4.02%	4.32%	4.22%	3.77%	3.24%	3.06%	6.11%	5.29%	10.08%	13.93%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.20%	95.98%	95.68%	95.78%	96.23%	96.76%	96.94%	93.89%	94.71%	89.92%	86.07%
Debt to EBITDA	0.15	0.12	0.12	0.12	0.10	0.08	0.07	0.15	0.13	0.26	0.36
Net Debt to EBITDA	-1.53	-1.33	-1.19	-1.06	-0.93	-0.91	-0.91	-0.79	-0.82	-0.83	-0.72
Long-Term Debt to EBITDA	0.15	0.12	0.12	0.12	0.10	0.08	0.07	0.15	0.13	0.26	0.36
Debt to NOPAT	0.21	0.16	0.17	0.16	0.14	0.12	0.11	0.24	0.21	0.43	0.68
Net Debt to NOPAT	-2.05	-1.79	-1.62	-1.44	-1.32	-1.31	-1.38	-1.24	-1.39	-1.39	-1.37
Long-Term Debt to NOPAT	0.21	0.16	0.17	0.16	0.14	0.12	0.11	0.24	0.21	0.43	0.68
Altman Z-Score	9.84	10.68	11.75	13.77	12.48	13.02	10.65	11.11	13.70	14.45	11.17
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.04	2.10	2.15	2.08	1.95	1.84	1.77	1.90	1.75	2.01	1.92
Quick Ratio	1.87	1.94	1.98	1.90	1.76	1.66	1.60	1.72	1.56	1.85	1.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	5,285	-6,653	-14,426	-24,293	-37,209	-23,513	-20,511	-33,723	-24,336	-32,303	-80,576
Operating Cash Flow to CapEx	380.58%	171.66%	240.16%	202.03%	235.04%	273.98%	210.21%	123.62%	202.12%	188.15%	128.36%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.79	0.80	0.82	0.82	0.82	0.82	0.82	0.81	0.80	0.77	0.72
Accounts Receivable Turnover	7.85	6.97	7.90	7.64	7.54	6.98	7.53	7.27	7.26	6.99	7.41
Inventory Turnover	42.89	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.54	2.49	2.44	2.41	2.37	2.29	2.19	2.10	2.00	1.93	1.81
Accounts Payable Turnover	21.66	21.13	26.28	24.55	22.30	18.90	20.27	21.12	17.89	16.10	13.21
Days Sales Outstanding (DSO)	46.51	52.38	46.23	47.75	48.40	52.30	48.48	50.19	50.30	52.20	49.24
Days Inventory Outstanding (DIO)	8.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	16.85	17.28	13.89	14.86	16.37	19.31	18.00	17.28	20.40	22.67	27.63
Cash Conversion Cycle (CCC)	38.16	35.10	32.34	32.88	32.02	32.99	30.47	32.91	29.90	29.54	21.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	136,141	153,325	163,988	179,094	197,009	202,328	209,796	238,801	246,178	266,282	322,461
Invested Capital Turnover	2.31	2.20	2.18	2.12	2.04	1.97	1.92	1.78	1.74	1.72	1.59
Increase / (Decrease) in Invested Capital	14,540	26,734	35,712	47,804	60,868	49,003	45,808	59,707	49,169	63,954	112,665
Enterprise Value (EV)	1,492,989	1,598,448	1,727,461	2,112,500	1,908,403	2,182,156	1,741,085	2,007,211	2,792,799	3,627,988	3,322,328
Market Capitalization	1,630,050	1,728,502	1,856,317	2,234,159	2,025,513	2,304,912	1,876,556	2,131,326	2,933,488	3,776,971	3,478,613
Book Value per Share	$21.67	$22.64	$23.70	$24.34	$25.52	$26.56	$28.32	$29.91	$31.99	$34.41	$39.58
Tangible Book Value per Share	$19.21	$20.31	$21.34	$21.98	$22.92	$23.95	$25.68	$27.24	$29.24	$31.65	$34.02
Total Capital	286,983	295,249	306,072	313,991	326,416	335,967	356,153	386,523	408,474	461,812	556,247
Total Debt	13,781	11,870	13,228	13,238	12,297	10,883	10,886	23,607	21,607	46,547	77,501
Total Long-Term Debt	13,781	11,870	13,228	13,238	12,297	10,883	10,886	23,607	21,607	46,547	77,501
Net Debt	-137,061	-130,054	-128,856	-121,659	-117,110	-122,756	-135,471	-124,115	-140,689	-148,983	-156,285
Capital Expenditures (CapEx)	8,055	11,019	12,012	13,186	13,061	14,276	17,197	22,446	23,953	27,851	35,674
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-29,920	-21,200	-19,616	-16,643	-16,492	-21,068	-24,930	-16,242	-24,099	-23,550	-24,275
Debt-free Net Working Capital (DFNWC)	90,015	89,716	88,474	84,082	76,738	74,589	70,398	78,906	74,397	103,293	102,565
Net Working Capital (NWC)	90,015	89,716	88,474	84,082	76,738	74,589	70,398	78,906	74,397	103,293	102,565
Net Nonoperating Expense (NNE)	136	-606	-2,376	-108	-2,642	-1,046	-9,243	-2,212	-10,146	-2,804	-30,489
Net Nonoperating Obligations (NNO)	-137,061	-130,054	-128,856	-121,659	-117,110	-122,756	-135,471	-124,115	-140,689	-148,983	-156,285
Total Depreciation and Amortization (D&A)	3,171	3,316	3,413	3,708	3,985	4,205	4,487	4,998	5,611	6,040	6,482
Debt-free, Cash-free Net Working Capital to Revenue	-10.07%	-6.90%	-6.17%	-5.07%	-4.85%	-6.02%	-6.93%	-4.37%	-6.25%	-5.85%	-5.75%
Debt-free Net Working Capital to Revenue	30.29%	29.19%	27.81%	25.61%	22.58%	21.31%	19.57%	21.25%	19.30%	25.64%	24.28%
Net Working Capital to Revenue	30.29%	29.19%	27.81%	25.61%	22.58%	21.31%	19.57%	21.25%	19.30%	25.64%	24.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.56	$1.66	$1.91	$1.91	$2.14	$2.17	$2.84	$2.33	$2.89	$2.85	$5.17
Adjusted Weighted Average Basic Shares Outstanding	12.52B	12.43B	12.36B	12.31B	12.24B	12.19B	12.14B	12.09B	12.07B	12.10B	12.12B
Adjusted Diluted Earnings per Share	$1.55	$1.66	$1.89	$1.89	$2.12	$2.14	$2.81	$2.31	$2.87	$2.82	$5.11
Adjusted Weighted Average Diluted Shares Outstanding	12.52B	12.43B	12.36B	12.31B	12.24B	12.19B	12.14B	12.09B	12.07B	12.10B	12.12B
Adjusted Basic & Diluted Earnings per Share	$0.00	$1.66	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	12.52B	12.43B	12.36B	12.31B	12.24B	12.19B	12.14B	12.09B	12.07B	12.10B	12.12B
Normalized Net Operating Profit after Tax (NOPAT)	19,825	20,081	21,286	23,511	23,659	25,490	25,297	25,984	24,833	31,651	32,089
Normalized NOPAT Margin	25.85%	23.27%	26.43%	27.74%	26.80%	26.42%	28.03%	26.95%	24.26%	27.81%	29.20%
Pre Tax Income Margin	27.64%	28.28%	35.16%	32.51%	35.92%	33.42%	46.31%	35.19%	42.98%	34.37%	70.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	2.81%	5.22%	7.35%	8.83%	8.54%	8.01%	7.60%	6.34%
Augmented Payout Ratio	90.99%	83.34%	76.02%	75.09%	71.90%	69.50%	64.32%	60.07%	52.89%	42.19%	25.47%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Alphabet Inc. (GOOGL) based on the quarterly statements from the last four years. The bullets focus on trends in revenue, profitability, cash flow, and liquidity that retail investors may find relevant.

Revenue growth momentum in 2025: Operating revenue rose from about $90.23B in Q1 2025 to $113.83B in Q4 2025, a robust sequential rise and a ~26% increase across the year.
Earnings and per‑share expansion: Net income attributable to common shareholders reached about $34.46B in Q4 2025, with Basic EPS of $2.85 and Diluted EPS of $2.82, up meaningfully versus prior‑year quarters.
Strong free cash flow in the latest quarter: Q4 2025 net cash from operating continuing activities was $52.40B; capital expenditures were $27.85B, yielding roughly $24.55B of free cash flow for the quarter.
Substantial liquidity and solid balance sheet: At mid‑2025 snapshots, Alphabet held roughly $23.1B in cash, $75.4B in short‑term investments, and about $63.8B in long‑term investments, contributing to a large liquidity cushion alongside a very large equity base (Total assets ~ $536B, Total equity ~ $387B in Q3 2025).
Ongoing share repurchases indicate capital return: 2025 activity shows notable buybacks, with roughly $13.6B repurchased in Q2 2025, about $11.5B in Q3 2025, and around $5.5B in Q4 2025, reflecting continued capital discipline.
Healthy gross margins across quarters: Gross profit generally remained around 58–60% of revenue (Q4 2025 gross margin ≈ 59%).
Operating profitability remains strong: Q4 2025 operating income of about $35.9B on $113.8B revenue yields an operating margin in the low 30s percentage range, consistent with a high‑margin tech platform business.
Consistent operating cash flow generation: Alphabet generated solid operating cash flow across 2025 quarters, with Q4 2025 at about $52B and earlier quarters showing robust cash from operations as well.
Significant investing cash outflows drive negative investing cash flow: In Q4 2025, net cash from investing activities was roughly -$51.8B, primarily due to substantial purchases of property, plant & equipment and investments, even as some asset sales offset part of that outlay.
Financing cash flow volatility: Financing activities swung from large negative flows in some quarters (e.g., around -$18.4B in Q3 2025) to a positive flow in Q4 2025 (about +$7.0B), highlighting ongoing debt and equity actions and quarterly timing effects on cash balance.

05/06/26 11:10 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Alphabet's Financials

When does Alphabet's fiscal year end?

According to the most recent income statement we have on file, Alphabet's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Alphabet's net income changed over the last 10 years?

Alphabet's net income appears to be on an upward trend, with a most recent value of $132.17 billion in 2025, rising from $16.35 billion in 2015. The previous period was $100.12 billion in 2024. View Alphabet's forecast to see where analysts expect Alphabet to go next.

What is Alphabet's operating income?

Alphabet's total operating income in 2025 was $129.04 billion, based on the following breakdown:

Total Gross Profit: $240.30 billion
Total Operating Expenses: $111.26 billion

How has Alphabet's revenue changed over the last 10 years?

Over the last 10 years, Alphabet's total revenue changed from $74.99 billion in 2015 to $402.84 billion in 2025, a change of 437.2%.

How much debt does Alphabet have?

Alphabet's total liabilities were at $180.02 billion at the end of 2025, a 43.8% increase from 2024, and a 563.5% increase since 2015.

How much cash does Alphabet have?

In the past 10 years, Alphabet's cash and equivalents has ranged from $10.72 billion in 2017 to $30.71 billion in 2025, and is currently $30.71 billion as of their latest financial filing in 2025.

How has Alphabet's book value per share changed over the last 10 years?

Over the last 10 years, Alphabet's book value per share changed from 174.97 in 2015 to 34.41 in 2025, a change of -80.3%.

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Financial statements for NASDAQ:GOOGL last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Alphabet (GOOGL) Financials

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Alphabet (GOOGL) Financials

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