Alphabet Inc. GOOGL
As our founders Larry and Sergey wrote in the original founders' letter, "Google is not a conventional company. We do not intend to become one." That unconventional spirit has been a driving force throughout our history, inspiring us to tackle big problems and invest in moonshots. It led us to be a pioneer in the development of artificial intelligence (AI) and, since 2016, be an AI-first company. We continue this work under the leadership of Alphabet and Google CEO, Sundar Pichai.
Alphabet is a collection of businesses — the largest of which is Google. We report Google in two segments, Google Services and Google Cloud, and all non-Google businesses collectively as Other Bets. Supporting these businesses, we have centralized certain AI-related research and development focused on advanced research in AI and developing the frontier models that serve our businesses, which is reported in Alphabet-level activities. Alphabet's structure is about helping each of our businesses prosper through strong leaders and independence.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Emea
- Apac
- Other Americas
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| United States | $194.23B | $170.45B | $146.29B |
| Emea | $117.15B | $102.13B | $91.04B |
| Apac | $67.68B | $56.81B | $51.51B |
| Other Americas | $23.90B | $20.42B | $18.32B |
As the company reported it, from the “Revenues - Revenue by Geographic Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $402.84B | $350.02B | $307.39B | $282.84B | $257.64B | $182.53B | $161.86B | $136.82B | $110.86B | $90.27B |
| Cost of revenue | $162.53B | $146.31B | $133.33B | $126.20B | $110.94B | $84.73B | $71.90B | $59.55B | $45.58B | $35.14B |
| Gross profit | $240.30B | $203.71B | $174.06B | $156.63B | $146.70B | $97.80B | $89.96B | $77.27B | $65.27B | $55.13B |
| R&D | $61.09B | $49.33B | $45.43B | $39.50B | $31.56B | $27.57B | $26.02B | $21.42B | $16.62B | $13.95B |
| SG&A | $21.48B | $14.19B | $16.43B | $15.72B | $13.51B | $11.05B | $9.55B | $6.92B | $6.84B | $6.99B |
| Total operating expenses | $273.80B | $237.63B | $223.10B | $207.99B | $178.92B | $141.30B | $127.63B | $109.30B | $84.68B | $66.56B |
| Operating income | $129.04B | $112.39B | $84.29B | $74.84B | $78.71B | $41.22B | $34.23B | $27.52B | $26.18B | $23.72B |
| Interest expense | $736.0M | $268.0M | $308.0M | $357.0M | $346.0M | $135.0M | $100.0M | $114.0M | $109.0M | $124.0M |
| Pre-tax income | $158.83B | $119.81B | $85.72B | $71.33B | $90.73B | $48.08B | $39.62B | $34.91B | $27.19B | $24.15B |
| Income tax | $26.66B | $19.70B | $11.92B | $11.36B | $14.70B | $7.81B | $5.28B | $4.18B | $14.53B | $4.67B |
| Net income | $132.17B | $100.12B | $73.80B | $59.97B | $76.03B | $40.27B | $34.34B | $30.74B | $12.66B | $19.48B |
| EPS, basic | 10.91 | 8.13 | 5.84 | 4.59 | 5.69 | 2.96 | 49.59 | 44.22 | 18.27 | 28.32 |
| EPS, diluted | 10.81 | 8.04 | 5.80 | 4.56 | 5.61 | 2.93 | 49.16 | 43.70 | 18.00 | 27.85 |
| Shares, diluted (wtd. avg.) | 12.23B | 12.45B | 12.72B | 13.16B | — | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $30.71B | $23.47B | $24.05B | $21.88B | $20.95B | $26.46B | $18.50B | $16.70B | $10.71B | $12.92B |
| Short-term investments | $96.14B | $72.19B | $86.87B | $91.88B | $118.70B | $110.23B | $101.18B | $92.44B | $91.16B | — |
| Receivables | $62.89B | $52.34B | $47.96B | $40.26B | $39.30B | $30.93B | $25.33B | $20.84B | $18.34B | $14.14B |
| Inventory | — | — | — | $2.67B | $1.17B | $728.0M | $999.0M | $1.11B | $749.0M | $268.0M |
| Total current assets | $206.04B | $163.71B | $171.53B | $164.79B | $188.14B | $174.30B | $152.58B | $135.68B | $124.31B | $105.41B |
| Property, plant and equipment | — | $171.04B | $134.34B | $112.67B | $97.60B | $84.75B | $73.65B | $59.72B | $42.38B | $34.23B |
| Goodwill | $33.38B | $31.89B | $29.20B | $28.96B | $22.96B | $21.18B | $20.62B | $17.89B | $16.75B | $16.47B |
| Other intangibles | — | — | — | $2.08B | $1.42B | $1.45B | $1.98B | $2.22B | $2.69B | $3.31B |
| Total assets | $595.28B | $450.26B | $402.39B | $365.26B | $359.27B | $319.62B | $275.91B | $232.79B | $197.29B | $167.50B |
| Accounts payable | $12.20B | $7.99B | $7.49B | $5.13B | $6.04B | $5.59B | $5.56B | $4.38B | $3.14B | $2.04B |
| Short-term debt | $2.00B | $999.0M | $1.00B | $0 | $0 | $999.0M | $0 | — | — | $0 |
| Total current liabilities | $102.75B | $89.12B | $81.81B | $69.30B | $64.25B | $56.83B | $45.22B | $34.62B | $24.18B | $16.76B |
| Long-term debt | $46.55B | $10.88B | $11.87B | $15.31B | $15.44B | $15.32B | $3.96B | $3.95B | $3.94B | $3.94B |
| Total liabilities | $180.02B | $125.17B | $119.01B | $109.12B | $107.63B | $97.07B | $74.47B | $55.16B | $44.79B | $28.46B |
| Retained earnings | $324.06B | $245.08B | $211.25B | $195.56B | $191.48B | $163.40B | $152.12B | $134.88B | $113.25B | $105.13B |
| Total equity | $415.26B | $325.08B | $283.38B | $256.14B | $251.63B | $222.54B | $201.44B | $177.63B | $152.50B | $139.04B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $164.71B | $125.30B | $101.75B | $91.50B | $91.65B | $65.12B | $54.52B | $47.97B | $37.09B | $36.04B |
| Depreciation and amortisation | $21.14B | $15.31B | $11.95B | $13.47B | $10.27B | — | — | — | — | — |
| Stock-based compensation | $24.95B | $22.79B | $22.46B | $19.36B | $15.38B | $12.99B | $10.79B | $9.35B | $7.68B | $6.70B |
| Capital expenditure | $91.45B | $52.53B | $32.25B | $31.48B | $24.64B | $22.28B | $23.55B | $25.14B | $13.18B | $10.21B |
| Investing cash flow | -$120.29B | -$45.54B | -$27.06B | -$20.30B | -$35.52B | -$32.77B | -$29.49B | -$28.50B | -$31.40B | -$31.16B |
| Financing cash flow | -$37.39B | -$79.73B | -$72.09B | -$69.76B | -$61.36B | -$24.41B | -$23.21B | -$13.18B | -$8.30B | -$8.33B |
| Dividends paid | $10.05B | $7.36B | $0 | $0 | — | — | — | — | $0 | $0 |
| Buybacks | $45.71B | $62.22B | $61.50B | $59.30B | $50.27B | $31.15B | $18.40B | $9.07B | $4.85B | $3.69B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000342.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $90.27B | $110.86B | $136.82B | $161.86B | $182.53B | $257.64B | $282.84B | $307.39B | $350.02B | $402.84B |
| Gross profit | $55.13B | $65.27B | $77.27B | $89.96B | $97.80B | $146.70B | $156.63B | $174.06B | $203.71B | $240.30B |
| Net income | $19.48B | $12.66B | $30.74B | $34.34B | $40.27B | $76.03B | $59.97B | $73.80B | $100.12B | $132.17B |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Material agreement signed Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7370
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|---|---|---|---|---|
| META | Meta Platforms, Inc. | $1.63T | 27.4x | 22.2% |
| APP | AppLovin Corp | $87.39B | 26.7x | 70.0% |
| ZM | Zoom Communications, Inc. | $28.05B | 15.5x | 4.4% |
| FLUT | Flutter Entertainment plc | $13.90B | — | 16.6% |
| PINS | PINTEREST, INC. | $12.56B | 36.6x | 15.8% |
| FDS | FACTSET RESEARCH SYSTEMS INC | $11.78B | 21.3x | 5.4% |
| DOCN | DigitalOcean Holdings, Inc. | $10.96B | 37.0x | 15.5% |
| SNAP | Snap Inc | $10.55B | — | 10.6% |