Is Alphabet financially healthy?

On 30 September 2026 Alphabet held 265.10B USD in cash and short-term investments against total debt of 141.92B USD. Its current ratio is 2.79: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 19.75B USD of free cash flow.

Alphabet's revenue grew 17.2% a year over its last five fiscal years, from 182.53B USD in fiscal year 2020 to 402.84B USD in fiscal year 2025. Over the last twelve months it was up 22.2% on the twelve months before.

Where can I find Alphabet's annual report (10-K)?

Alphabet files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

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Arincen ScoreBeta87/100

87/100B

293.01

USD

5.57

(1.94%)

Pre Open·290.10USD-2.91(-0.99%)

Last updated: 11 Nov, 11:57 GMT-5 · Delayed 15 min

Fair value263.85Plus+11%186Price 293.01422

Q4 FY2026 · Earnings report

EPS estimate 3.14Revenue estimate 142.56B

Q4 FY2026 · Earnings report

Wednesday 3 February

EPS estimate 3.14Revenue estimate 142.56B

Fair value263.85Plus+11%186Price 293.01422

Q4 FY2026 · Earnings report

EPS estimate 3.14Revenue estimate 142.56B

Q4 FY2026 · Earnings report

Wednesday 3 February

EPS estimate 3.14Revenue estimate 142.56B

Overview Financials Signals News Forecast Earnings Dividends Company

Alphabet financials

Yes. Alphabet earned 235.69B USD of net income over the last twelve months, 50.0% of its revenue. It made a profit in 25 of its 27 fiscal years since 1999. Its last loss was in fiscal year 2000.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 471.10B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 235.69B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 19.75B USD
Cash and short-term investments: 265.10B USD
Total debt: 141.92B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 677.55B USD

Cash, debt and equity as of 30 Sept 2026.

Alphabet earnings

Next earnings · Q4 FY2026

3 Feb 2027

EPS estimate

3.14 USD

Revenue estimate

142.56B USD

Last quarter · Q3 FY2026

EPS2.12Missed -29.8%Revenue127.58BMissed -0.3%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q3 FY2027	—	3.77	—	—	+77.80%	163.55B	—	—	+28.20%
Q2 FY2027	—	3.56	—	—	-60.88%	152.88B	—	—	+27.62%
Q1 FY2027	—	3.36	—	—	-34.29%	141.07B	—	—	+28.37%
Q4 FY2026	3 Feb 2027	3.14	—	—	+11.35%	142.56B	—	—	+25.24%
Q3 FY2026	28 Oct 2026	3.02	2.12	-29.80%	-26.13%	128.00B	127.58B	-0.33%	+24.65%
Q2 FY2026	22 Jul 2026	2.87	9.11	+217.42%	+294.37%	116.53B	119.80B	+2.80%	+24.23%
Q1 FY2026	29 Apr 2026	2.64	5.11	+93.56%	+81.85%	106.98B	109.90B	+2.73%	+21.79%
Q4 FY2025	4 Feb 2026	2.57	2.82	+9.73%	+31.16%	111.33B	113.83B	+2.24%	+17.99%
Q3 FY2025	29 Oct 2025	2.30	2.87	+24.78%	+35.38%	99.93B	102.35B	+2.42%	+15.95%
Q2 FY2025	23 Jul 2025	2.15	2.31	+7.44%	+22.22%	99.83B	96.43B	-3.40%	+13.79%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	18.21	—	—	+21.08%	781.90B	—	—	+22.48%
FY2027	15.04	—	—	-23.44%	638.42B	—	—	+27.69%
FY2026	19.65	—	—	+81.75%	499.98B	—	—	+24.12%
FY2025	10.64	10.81	+1.64%	+34.29%	400.30B	402.84B	+0.63%	+15.09%
FY2024	8.02	8.05	+0.40%	+38.79%	350.48B	350.02B	-0.13%	+13.87%
FY2023	5.74	5.80	+0.96%	+27.47%	306.24B	307.39B	+0.38%	+8.68%
FY2022	4.72	4.55	-3.54%	-18.75%	283.35B	282.84B	-0.18%	+9.78%

Alphabet growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 471.10B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 235.69B USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 60.86%
Operating margin: 33.32%
Net margin: 50.03%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	402.84B	+15.09%	132.17B	+32.01%	59.65%	32.03%	32.81%	180.70B	+33.46%
FY2024	350.02B	+13.87%	100.12B	+35.67%	58.20%	32.11%	28.60%	135.39B	+38.20%
FY2023	307.39B	+8.68%	73.80B	+23.05%	56.63%	27.42%	24.01%	97.97B	+15.04%
FY2022	282.84B	+9.78%	59.97B	-21.12%	55.38%	26.46%	21.20%	85.16B	-17.74%
FY2021	257.64B	+41.15%	76.03B	+88.81%	56.94%	30.55%	29.51%	103.52B	+67.20%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	127.58B	26.47B	59.70%	31.81%	20.75%
Q2 FY2026	119.80B	112.19B	61.65%	34.03%	93.65%
Q1 FY2026	109.90B	62.58B	62.45%	36.12%	56.94%
Q4 FY2025	113.83B	34.46B	59.79%	31.57%	30.27%
Q3 FY2025	102.35B	34.98B	59.58%	30.51%	34.18%

How Alphabet makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Google Search & other224.53B 55.7%

Google Cloud58.71B 14.6%

Google subscriptions, platforms, and devices48.03B 11.9%

YouTube ads40.37B 10.0%

Google Network29.79B 7.4%

Other Bets1.54B 0.4%

Revenue402.84B 100.0%

Cost of revenue162.54B 40.3%

Gross profit240.30B 59.7%

Research and development61.09B 15.2%

Selling and administration50.18B 12.5%

Operating income129.04B 32.0%

Tax26.66B 6.6%

Net income132.17B 32.8%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Alphabet revenue breakdown

By product

FY2025

55.7%Google Search & other14.6%Google Cloud11.9%Google subscriptions, platforms, and devices10.0%YouTube ads7.4%Google Network

Segment	Revenue	Share of revenue	Change on the year
Google Search & other	224.53B	55.7%	+13.4%
Google Cloud	58.71B	14.6%	+35.8%
Google subscriptions, platforms, and devices	48.03B	11.9%	+19.1%
YouTube ads	40.37B	10.0%	+11.7%
Google Network	29.79B	7.4%	-1.9%
Other Bets	1.54B	0.4%	-6.7%
Hedging gains (losses)	-127.00M	-0.0%	-160.2%

By region

FY2025

48.2%United States29.1%EMEA16.8%Asia Pacific5.9%Americas Excluding United States

Region	Revenue	Share of revenue	Change on the year
United States	194.21B	48.2%	+13.9%
EMEA	117.05B	29.1%	+14.6%
Asia Pacific	67.68B	16.8%	+19.1%
Americas Excluding United States	23.90B	5.9%	+17.1%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	164.71B	73.27B
FY2024	125.30B	72.76B
FY2023	101.75B	69.50B
FY2022	91.50B	60.01B
FY2021	91.65B	67.01B
FY2020	65.12B	42.84B
FY2019	54.52B	30.97B
FY2018	47.97B	22.83B
FY2017	37.09B	23.91B
FY2016	36.04B	25.82B

Alphabet financial health

Full balance sheet

Cash and short-term investments: 265.10B USD
Total debt: 141.92B USD
Net cash: 123.18B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 19.75B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 2.79
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 0.21
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 5 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 9.72

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	126.84B	59.29B	73.27B
FY2024	95.66B	25.46B	72.76B
FY2023	110.92B	27.12B	69.50B
FY2022	113.76B	29.68B	60.01B
FY2021	139.65B	28.51B	67.01B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	595.28B	180.02B	415.27B
FY2024	450.26B	125.17B	325.08B
FY2023	402.39B	119.01B	283.38B
FY2022	365.26B	109.12B	256.14B
FY2021	359.27B	107.63B	251.64B
FY2020	319.62B	97.07B	222.54B
FY2019	275.91B	74.47B	201.44B
FY2018	232.79B	55.16B	177.63B
FY2017	197.30B	44.79B	152.50B
FY2016	167.50B	28.46B	139.04B

Alphabet valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 15.11
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 14.91
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 7.58
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 5.27
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 10.81

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

3.57T USD

Total debt

141.92B USD

−

Cash and short-term investments

265.10B USD

Enterprise value

3.45T USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	16.09	—	—	—	—
FY2027 (est.)	19.48	16.09	—	—	—
FY2026 (est.)	14.91	19.48	—	—	—
Now (TTM)	15.11	18.69	7.58	5.27	10.81
FY2025	28.76	15.93	9.44	9.16	21.20
FY2024	23.42	17.80	6.70	7.22	17.34
FY2023	24.13	17.45	5.79	6.28	18.20
FY2022	19.33	15.37	4.10	4.53	13.70
FY2021	25.43	30.71	7.50	7.68	18.74

Alphabet against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

P/E (today)Below its median15.1
14.433.6
Gross marginHighest in 5 years59.7%
55.4%59.7%
Operating marginAbove its median32.0%
26.5%32.1%
Net marginHighest in 5 years32.8%
21.2%32.8%
Return on equityHighest in 5 years31.8%
23.4%31.8%
Free cash flow marginLowest in 5 years18.2%
18.2%26.0%
Revenue growthAbove its median15.1%
8.7%41.2%
EPS growthAt its median34.5%
-18.7%91.5%
Debt to EBITDAAbove its median0.33×
0.19×0.35×
Current ratioBelow its median2.01
1.842.93

Figure	FY2025	5-year low – high	Against its history
P/E (today)	15.1	14.433.6	Below its median
Gross margin	59.7%	55.4%59.7%	Highest in 5 years
Operating margin	32.0%	26.5%32.1%	Above its median
Net margin	32.8%	21.2%32.8%	Highest in 5 years
Return on equity	31.8%	23.4%31.8%	Highest in 5 years
Free cash flow margin	18.2%	18.2%26.0%	Lowest in 5 years
Revenue growth	15.1%	8.7%41.2%	Above its median
EPS growth	34.5%	-18.7%91.5%	At its median
Debt to EBITDA	0.33×	0.19×0.35×	Above its median
Current ratio	2.01	1.842.93	Below its median

Compared with the company's own past, not with other companies.

Alphabet dividends

Annual dividend: 0.88 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 0.30%
Payout ratioWhat is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 5.57%
Years of dividend growthWhat are years of dividend growth? The years in a row a company has raised its dividend per share. 25 years make an S&P 500 company a Dividend Aristocrat; 50 make a Dividend King.: 2
Frequency: Quarterly
Next payment: 0.22 USD
Next ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 7 Dec 2026
Next payment date: 14 Dec 2026

Dividends per share

Year	2025	2024
Dividends per share	0.83	0.60

Alphabet ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 39.22%
Institutional holders: 6,063 (+175)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 89.90%

Who owns the shares

Institutions 39.2% Others 60.8%

As of 30 Jun 2026

Shares free to trade

Free float 10.95B shares ·89.9% Closely held 1.23B shares ·10.1%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q4 2026	1	357.38K	417.72K
Q3 2026	4	757.73K	2.17M
Q2 2026	48	637.50K	294.97K
Q1 2026	95	2.97M	4.06M

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	12.12B	12.23B	-1.74%
FY2024	12.32B	12.45B	-2.16%
FY2023	12.63B	12.72B	-3.32%
FY2022	13.06B	13.16B	-2.91%
FY2021	13.35B	13.55B	-1.36%

Common questions about Alphabet's financials

Source: Financial Modeling PrepVerified against SEC filings

Alphabet
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GOOGL

Alphabet financials

Alphabet earnings

Revenue

EPS

Alphabet growth and profitability

Revenue / Net income

How Alphabet makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Alphabet revenue breakdown

By product

By region

Operating and free cash flow

Alphabet financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Alphabet valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Alphabet against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Alphabet dividends

Dividends per share

Alphabet ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Alphabet's financials

Is Alphabet profitable?

Is Alphabet financially healthy?

Is Alphabet growing?

Where can I find Alphabet's annual report (10-K)?

Need help?

Alphabet DQuotes are delayed by 15 minutes

GOOGL

Alphabet financials

Alphabet earnings

Revenue

EPS

Alphabet growth and profitability

Revenue / Net income

How Alphabet makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Alphabet revenue breakdown

By product

By region

Operating and free cash flow

Alphabet financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Alphabet valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Alphabet against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Alphabet dividends

Dividends per share

Alphabet ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Alphabet's financials

Is Alphabet profitable?

Is Alphabet financially healthy?

Is Alphabet growing?

Where can I find Alphabet's annual report (10-K)?

Need help?

Alphabet
D
Quotes are delayed by 15 minutes