Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Alphabet Inc. (Class C)

GOOG stock analysis · Communication Services · Interactive Media & Services

FY 2025-12-31ANNUAL FILINGSMULTIPLE SHARE CLASSES
Compare ⇄
These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained. Issuer-level values span share classes. Reviewed equivalent shares are used when available; the price panel explains the capital basis.
Reference share price · USD
$353.33HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$4.3T

Class A × GOOGL + Class C × GOOG + unlisted Class B × GOOGL (proxy). Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Preferred-stock adjustment. DCF and its sensitivity table deduct $19.25B from the equity cash-flow value. Reverse DCF includes this claim; FCF yield deducts $1.203B of annual preferred dividends.
Model details and preferred terms

Uses a static liquidation-value proxy. Mandatory conversion and capped calls are not option-valued.

Read the filing ↗
Valuation

DCF value

$89.42

Equity cash-flow scenario · Reviewed issuer-equivalent shares at 2026-06-30 · -74.9% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

41.6%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-59.0%

13 sector peers · median 13.5×

How this is calculated ↗
Valuation

Historical multiples

32.9×

7 annual observations · snapshot P/E 32.9× · 0.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

1.7%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

27.3%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

20/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

32.2%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

1.3%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-6.2%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

6.7%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 164.7B2020-12-31: cfo $65,124,000,000.002020-12-31: capex $22,281,000,000.0020202021-12-31: cfo $91,652,000,000.002021-12-31: capex $24,640,000,000.0020212022-12-31: cfo $91,495,000,000.002022-12-31: capex $31,485,000,000.0020222023-12-31: cfo $101,746,000,000.002023-12-31: capex $32,251,000,000.0020232024-12-31: cfo $125,299,000,000.002024-12-31: capex $52,535,000,000.0020242025-12-31: cfo $164,713,000,000.002025-12-31: capex $91,447,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$112.55$122.95$134.13
10.0%$82.06$89.42$97.32
12.0%$64.40$70.02$76.04

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-31402.8B132.2B164.7B91.4B595.3B
2024-12-31350B100.1B125.3B52.5B450.3B
2023-12-31307.4B73.8B101.7B32.3B402.4B
2022-12-31282.8B60B91.5B31.5B365.3B
2021-12-31257.6B76B91.7B24.6B359.3B
2020-12-31182.5B40.3B65.1B22.3B319.6B
2019-12-31161.9B34.3B54.5B23.5B275.9B
2018-12-31136.8B30.7B48B25.1B232.8B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue402.8BRevenues2026-02-05
netIncome132.2BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-05
Parent/common earnings proxy132.2BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-05
cfo164.7BNetCashProvidedByUsedInOperatingActivities2026-02-05
capex91.4BPaymentsToAcquirePropertyPlantAndEquipment2026-02-05
operatingIncome129BOperatingIncomeLoss2026-02-05
assets595.3BAssets2026-02-05
equity415.3BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-05
Parent book equity proxy415.3BStockholdersEquity2026-02-05
debt49.1BLongTermDebt2026-02-05
shortDebtNot reported under a supported tag
cash30.7BCashAndCashEquivalentsAtCarryingValue2026-02-05
shares12.2BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-05
dividends10BPaymentsOfDividends2026-02-05
buybacks45.7BPaymentsForRepurchaseOfCommonStock2026-02-05
issuance0Reviewed manual correction
Reviewed fiscal 2025 cash common-stock issuance proxy of zero at the filing's $1m precision, not a missing-tag default and not zero dilution. The audited equity rollforward on page 51 reports 117m shares issued with zero stock/APIC amount on that issuance row. The complete APIC reconciliation is $84,800m + $25,130m stock compensation − $14,842m withholding/other − $2,514m repurchases + $152m dividend equivalents + $400m subsidiary-interest sales = $93,126m. The complete financing cash-flow section on page 52 reports debt proceeds and $400m subsidiary-interest sales separately, with no parent common-stock cash proceeds. Subsidiary-interest sales, noncash stock compensation and net employee tax settlements are excluded from this issuance proxy. This conclusion applies only to the reviewed fiscal year.
2026-02-05