Alphabet Inc.
$295.77
−2.93 (−0.98%) · delayed · Nov 13, 2026
Five-year price
52w $272.11 to $408.61
- Market cap
- $3.62T
- Enterprise value
- $3.64T
- P/E
- 27.4×
- 36.0× on 3y avg EPS
- EV / EBIT
- 28.2×
- FCF yield
- 2.0%
- ROIC
- 24.8%
- Debt / equity
- 0.12
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 26.7%
- ●ROE > 15% (5y avg)5y avg ROE 28.5%
- ●Stable operating marginsMargin volatility 2.4% (σ, 5y)
- ●Earnings convert to cashFCF / net income 82% (5y avg)
- ●Growing revenueRevenue CAGR 5y 17.2%
- –Shrinking share countDiluted shares n/a over 5y
Value
0
- ○P/E below 15P/E 27.4
- ○EV/EBIT below 12EV/EBIT 28.2
- ○FCF yield above 6%FCF yield 2.0%
- ○Price below Graham NumberGraham Number $90.88
- ○P/B below 3P/B 8.7
Safety
80
- ●Debt / equity below 0.5D/E 0.12
- ●Debt payable in < 4 yrs of earningsNet debt $17.8B
- ●Interest coverage > 8xCoverage 175.3x
- ●Current ratio > 1.5Current ratio 2.01
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
43
- ●Adequate size (revenue > $2B)Revenue $402.8B
- ●Strong condition (current ratio ≥ 2)Current ratio 2.01
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -72%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 36.0
- ○P/E × P/B ≤ 22.5Product 313.6
Valuation lab
What do you have to believe?
At $295.77, the market is pricing in about 17.7% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $17.8B · 12230M shares · 5y revenue CAGR 17.2%
Intrinsic value
$280.64
Price
$295.77
Premium paid
5%
What the price implies
The market is paying for 17.7% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
68% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 90,272 | 110,855 | 136,819 | 161,857 | 182,527 | 257,637 | 282,836 | 307,394 | 350,018 | 402,836 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 23,716 | 26,178 | 27,524 | 34,231 | 41,224 | 78,714 | 74,842 | 84,293 | 112,390 | 129,039 |
| Operating margin | 26.3% | 23.6% | 20.1% | 21.1% | 22.6% | 30.6% | 26.5% | 27.4% | 32.1% | 32.0% |
| Pre-tax income | 24,150 | 27,193 | 34,913 | 39,625 | 48,082 | 90,734 | 71,328 | 85,717 | 119,815 | 158,826 |
| Income tax | 4,672 | 14,531 | 4,177 | 5,282 | 7,813 | 14,701 | 11,356 | 11,922 | 19,697 | 26,656 |
| Net income | 19,478 | 12,662 | 30,736 | 34,343 | 40,269 | 76,033 | 59,972 | 73,795 | 100,118 | 132,170 |
| EPS (diluted) | 27.85 | 18.00 | 43.70 | 49.16 | 2.93 | 5.61 | 4.56 | 5.80 | 8.04 | 10.81 |
| Diluted shares | — | — | — | — | — | — | 13,159 | 12,722 | 12,447 | 12,230 |
Who owns it