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$342.88
Market Capi
$4.2T
Growth-adj P/E (3-yr hist)i
1.0x
Growth-adj P/E (3-yr proj)i
1.1x
P/S 26Ei
8.5x
P/S 28Ei
5.8x
EV/EBIT 26Ei
24x
EV/EBIT 28Ei
16x
P/E 26Ei
17x
P/E 28Ei
20x
P/S 26Ei
8.5x
EV/EBIT 26Ei
24x
P/E 26Ei
17x
P/S 28Ei
5.8x
EV/EBIT 28Ei
16x
P/E 28Ei
20x
Revenue
2026E
$488B
Gross Margini
60%
Hist. CAGRi
13%
Proj. CAGRi
19%
EBIT
2026E
$170B
Op. Margini
32%
Hist. CAGRi
20%
Proj. CAGRi
24%
Net profit
2026E
$174B
Net Margini
33%
Hist. CAGRi
30%
Proj. CAGRi
18%
Business Model
Recent Developments
Average Targeti
$428.07+26%
Consensusi
Buy
63 analysts covering
Net cashi
$120B
Div. Yieldi
0.3%
Buyback Yldi
1.4%
Market Capi
$4.2T
P/E 26Ei
17x
Adj. P/E (fwd.)i
1.1x
Revenue 26E
$488B
Proj. CAGRi
19%
Gross Margini
60%
EBIT 26E
$170B
Proj. CAGRi
24%
Op. Margini
32%
Net Profit 26E
$174B
Proj. CAGRi
18%
Net Margini
33%
Average Targeti
$428.07+26%
Consensusi
Buy
63 analysts covering
Profile
Alphabet is a holding company centered on Google's internet businesses, supplemented by early-stage ventures under Other Bets. Revenue is concentrated in advertising and, increasingly, cloud infrastructure, both built on Alphabet's own AI models and custom chips.
Industry
Alphabet sells to nearly the full range of digital participants: consumers using free ad-supported products, advertisers of every size bidding for Search and YouTube inventory, and enterprises adopting Google Cloud and Workspace. Revenue is geographically diversified, with the United States generating under half of sales and Europe, the Middle East and Africa the next-largest region. Digital advertising is cyclical and fiercely competitive, while cloud infrastructure carries high switching costs once workloads are migrated.
Key metrics
Economic moat
Alphabet's advantage starts with distribution defaults built into Android, Chrome and default-search agreements, paired with ad-targeting data that rivals cannot easily replicate at comparable scale. In infrastructure, custom Tensor Processing Units lower AI training and inference costs relative to competitors renting third-party chips. Google Cloud and Workspace generate real switching costs once enterprise workloads and identity systems are embedded, while YouTube's creator ecosystem and Search's accumulated query history sustain durable network effects.
Sundar Pichai
Pichai joined Google in 2004 from McKinsey & Company after an earlier engineering role at Applied Materials, then built his reputation running product for Chrome, ChromeOS and Google Drive before being named Google's CEO in 2015 and Alphabet's CEO in 2019. As CEO he has concentrated Alphabet's capital and R&D spending behind its AI push, including the Gemini model family and record infrastructure investment.
Larry Page & Sergey Brin
Page and Brin founded Google in 1998 while pursuing computer-science PhDs at Stanford and both retain board seats today. Their Class B shares carry ten votes each, giving the two founders control of roughly half of Alphabet's total voting power despite owning a much smaller share of its economics.
Anat Ashkenazi
Ashkenazi became Alphabet's Chief Financial Officer in July 2024 after two decades at Eli Lilly, where she rose to CFO in 2021 and helped steer the pharmaceutical company's growth through its GLP-1 drug boom. She now oversees capital allocation across Alphabet's AI infrastructure build-out, including a 2026 capital-expenditure plan guided toward $175 billion to $185 billion.
Demis Hassabis
Hassabis co-founded DeepMind in 2010, sold it to Google in 2014, and built it into Alphabet's central AI research lab, work that earned him the 2024 Nobel Prize in Chemistry for AI-driven protein-structure prediction. In August 2026 he stepped down as Google DeepMind's CEO to become Alphabet's chief scientist, handing day-to-day leadership of DeepMind to Koray Kavukcuoglu while focusing on long-term AI strategy alongside Pichai.
P/S Ratioi
EV/EBITi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Alphabet's Q2 2026 results, reported July 22, 2026, showed revenue of $119.8B, up 24% YoY and above the roughly $117B analyst consensus — the twelfth straight quarter of double-digit growth.
Google Cloud was the standout segment, with revenue growth accelerating to 82% YoY as enterprise demand for AI infrastructure intensified.
EPS came in at $9.11, far above the roughly $2.88 consensus, though the beat was heavily flattered by around $98B in unrealized gains on equity investments rather than core operating performance.
The figure that actually moved the stock was management's decision to raise full-year capex guidance to $195–205B, up from $180–190B, sending shares down about 5% after hours as investors weighed the scale of the AI spending ramp.
Recent developments
The European Commission fined Google roughly $1 billion (€890 million) on July 23, 2026 for search self-preferencing and Google Play restrictions under the Digital Markets Act.
Alphabet joined the Dow Jones Industrial Average on June 29, 2026, replacing Verizon Communications.
The company launched an approximately $80 billion equity capital raise, including a $10 billion private placement from Berkshire Hathaway, to help fund its AI infrastructure buildout.
Reports surfaced on July 20, 2026 of an internally developed AI server chip aimed at running Gemini models more efficiently.
Debate & sentiment
Bulls point to Google Cloud's accelerating growth and Gemini engagement as evidence the AI spending is converting into real revenue, and argue the shares still trade at a valuation that looks reasonable relative to the growth rate.
Skeptics counter that capex approaching $200B annually is compressing near-term free cash flow, and question how quickly that spending converts into durable earnings power.
A pending federal court ruling on Alphabet's ad-tech business, which could force changes to its ad-exchange operations, along with reported delays to the next flagship Gemini model, keeps regulatory and competitive risk in focus.
Consensusi
Buy
Average targeti
$428.07+26%
Highest targeti
$515.00+52%
Lowest targeti
$340.00+0%
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