# Alphabet Inc. (GOOGL)

> Source: Nexqual · https://nexqual.com/GOOGL · data as of 2026-10-23 16:22 UTC · cite as "Nexqual, Alphabet Inc. (GOOGL), nexqual.com/GOOGL" · informational, not investment advice.

**Price:** USD 323.07 (-0.36% today) · US market open, as of October 23, 2026 at 16:22 UTC; quotes may be delayed. Prev close 324.22 · day 320.18–324.53 · 52w 255.32–408.61 · market cap $3.95T · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $446B, net income $244B (54.8% margin), free cash flow $53.3B (SEC filings).
- Valuation: P/E 16.2x (avg 25.5x at the last 3 fiscal year-ends), EV/EBITDA 22.0x, net cash $142B.
- Earnings quality: non-operating income $152B (gains on equity investments $149B) vs operating income $148B over the last four quarters; P/E excluding non-operating income ≈32.8x (estimate: non-operating income taxed at the company's 18.4% effective rate).
- 49 of 80 tracked superinvestors hold GOOGL (13F, Q2 2026 (2 investors on Q3 2026, filed early)): 0 new, 11 added, 28 reduced, 10 unchanged.
- Analysts: Buy (mean 1.87 on a 1–5 scale) (61 analysts), mean target USD 429.12 (range 340–500).
- Total return with dividends: 1Y +28.0% vs S&P 500 +14.7%; 5Y +120.3% vs S&P 500 +77.5%.
- Next earnings: 2026-10-28, EPS estimate USD 3, revenue estimate $128B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $258B | $283B | $307B | $350B | $403B | $446B |
| Gross profit | $147B | $157B | $174B | $204B | $240B | — |
| Operating income | $78.7B | $74.8B | $84.3B | $112B | $129B | $148B |
| Net income | $76.0B | $60.0B | $73.8B | $100B | $132B | $244B |
| EPS (diluted) | $5.61 | $4.56 | $5.80 | $8.04 | $10.81 | — |
| Free cash flow | $67.0B | $60.0B | $69.5B | $72.8B | $73.3B | $53.3B |
| Gross margin | 56.9% | 55.4% | 56.6% | 58.2% | 59.7% | — |
| Operating margin | 30.6% | 26.5% | 27.4% | 32.1% | 32.0% | 33.1% |
| Net margin | 29.5% | 21.2% | 24.0% | 28.6% | 32.8% | 54.8% |
| Revenue growth | +41.2% | +9.8% | +8.7% | +13.9% | +15.1% | — |
| Cash + short-term investments | $140B | $114B | $111B | $95.7B | $127B | — |
| Total debt | $15.4B | $15.3B | $13.0B | $12.0B | $49.1B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 16.2x · P/E ex non-operating (est.) ≈32.8x · P/S 8.9x · EV/EBITDA 22.0x · EV/Sales 8.5x · P/FCF 74.2x · P/B 6.2x · FCF yield 1.35% · Earnings yield 6.18% · Buyback yield (TTM) 0.44% · Net cash $142B · EV $3.81T
P/E at fiscal year-ends: Dec 2025 29.0x, Dec 2024 23.5x, Dec 2023 24.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
49 of 80 tracked investors hold GOOGL (2 investors on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Li Lu | Himalaya Capital Management | 47.94% | $1.78B | Unchanged | Q2 2026 |
| Lindsell Train |  | 17.49% | $460M | Reduced -24.5% | Q2 2026 |
| Ruane Cunniff | Ruane Cunniff LP | 16.17% | $1.04B | Reduced -4.8% | Q2 2026 |
| Bryan Lawrence | Oakcliff Capital | 15.55% | $41.7M | Unchanged | Q2 2026 |
| Warren Buffett | Berkshire Hathaway | 12.62% | $37.8B | Added +83.2% | Q2 2026 |
| First Pacific Advisors |  | 12.23% | $974M | Reduced -9.1% | Q2 2026 |
| Thomas Russo | Gardner Russo & Quinn | 12.11% | $1.08B | Reduced -9.0% | Q2 2026 |
| Francis Chou | Chou Associates | 11.81% | $25.6M | Unchanged | Q2 2026 |
| Francois Rochon | Giverny Capital | 10.92% | $325M | Reduced -5.5% | Q2 2026 |
| Josh Tarasoff | Greenlea Lane Capital | 9.82% | $35.7M | Unchanged | Q2 2026 |
| Daniel Loeb | Third Point | 9.53% | $443M | Added +1342.9% | Q2 2026 |
| David Rolfe | Wedgewood Partners | 9.39% | $45.5M | Reduced -18.3% | Q2 2026 |
| William Von Mueffling | Cantillon Capital Management | 9.19% | $61.1M | Reduced -95.4% | Q2 2026 |
| Triple Frond Partners |  | 9.19% | $103M | Reduced -17.5% | Q2 2026 |
| Thomas Gayner | Markel Group | 8.96% | $1.18B | Unchanged | Q2 2026 |
| Seth Klarman | Baupost Group | 8.95% | $485M | Added +16.1% | Q2 2026 |
| David Abrams | Abrams Capital Management | 8.94% | $490M | Reduced -26.6% | Q2 2026 |
| David Tepper | Appaloosa Management | 8.75% | $654M | Added +6.8% | Q2 2026 |
| Chase Coleman | Tiger Global Management | 8.65% | $2.07B | Reduced -45.4% | Q2 2026 |
| Chris Hohn | TCI Fund Management | 8.32% | $4.39B | Added +9.6% | Q2 2026 |
| John Armitage | Egerton Capital | 7.28% | $715M | Reduced -36.2% | Q3 2026 |
| Jensen Investment Management |  | 6.91% | $285M | Reduced -45.0% | Q2 2026 |
| Polen Capital | Polen Capital Management | 6.67% | $775M | Reduced -26.3% | Q2 2026 |
| Wallace Weitz | Weitz Investment Management | 6.56% | $94.7M | Reduced -17.9% | Q2 2026 |
| Samantha McLemore | Patient Capital Management | 6.24% | $188M | Reduced -1.5% | Q2 2026 |
| Kahn Brothers | Kahn Brothers Group | 6.21% | $35.0M | Unchanged | Q2 2026 |
| Vulcan Value Partners |  | 5.80% | $191M | Reduced -20.3% | Q2 2026 |
| Torray Funds |  | 5.68% | $42.1M | Added +893.8% | Q2 2026 |
| Mairs & Power | Mairs & Power Funds | 5.63% | $614M | Added +4.2% | Q2 2026 |
| Christopher Davis | Davis Advisors | 5.36% | $1.25B | Reduced -7.2% | Q2 2026 |
| Yacktman Asset Management |  | 4.93% | $399M | Added +0.2% | Q2 2026 |
| Terry Smith | Fundsmith | 4.64% | $634M | Reduced -40.0% | Q2 2026 |
| First Eagle Investment | First Eagle Investment Management | 4.62% | $2.77B | Reduced -8.9% | Q2 2026 |
| Lee Ainslie | Maverick Capital | 4.60% | $510M | Added +65.3% | Q2 2026 |
| Dodge & Cox Funds | Dodge & Cox | 4.21% | $8.04B | Reduced -1.0% | Q2 2026 |
| David Katz | Matrix Asset Advisors | 3.96% | $48.1M | Added +1.0% | Q3 2026 |
| Bill Nygren | Oakmark Funds | 3.89% | $2.92B | Reduced -11.6% | Q2 2026 |
| Tweedy Browne |  | 3.83% | $50.5M | Reduced -28.8% | Q2 2026 |
| Duan Yongping | H&H International Investment | 3.64% | $696M | Reduced -46.9% | Q2 2026 |
| Van Den Berg Management I |  | 3.38% | $16.0M | Reduced -2.9% | Q2 2026 |
| Robert Vinall | RV Capital GmbH | 3.04% | $11.6M | Unchanged | Q2 2026 |
| Harry Burn | Sound Shore | 2.56% | $83.2M | Reduced -9.0% | Q2 2026 |
| Sarah Ketterer | Causeway Capital Management | 1.21% | $112M | Reduced -6.3% | Q2 2026 |
| Stephen Mandel | Lone Pine Capital | 0.47% | $77.0M | Added +14.9% | Q2 2026 |
| AltaRock Partners |  | 0.35% | $15.0M | Reduced -3.2% | Q2 2026 |
| Hillman Capital | Hillman Capital Management | 0.26% | $365K | Reduced -8.7% | Q2 2026 |
| Glenn Greenberg | Brave Warrior Advisors | 0.19% | $8.6M | Unchanged | Q2 2026 |
| Richard Pzena | Pzena Investment Management | 0.18% | $61.2M | Unchanged | Q2 2026 |
| Christopher Bloomstran | Semper Augustus | 0.13% | $1.1M | Unchanged | Q2 2026 |

## Analysts
Consensus Buy (mean 1.87 on a 1–5 scale), 61 analysts; mean target USD 429.12 (low 340, high 500).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Citizens | Target lowered | Market Outperform | $515 → $450 |
| 2026-10-20 | BMO Capital | Target raised | Outperform | $465 → $480 |
| 2026-10-19 | Keybanc | Target lowered | Overweight | $435 → $410 |
| 2026-10-15 | JP Morgan | Target raised | Overweight | $420 → $425 |
| 2026-10-14 | UBS | Target raised | Neutral | $379 → $380 |
| 2026-10-12 | Cantor Fitzgerald | Reiterated | Overweight | $420 |
| 2026-10-08 | Needham | Reiterated | Buy | $450 |
| 2026-10-06 | Wells Fargo | Target raised | Overweight | $411 → $417 |
| 2026-09-28 | Piper Sandler | Target raised | Overweight | $395 → $400 |
| 2026-09-18 | Tigress Financial | Target raised | Strong Buy | $415 → $485 |
| 2026-09-17 | Evercore ISI Group | Target raised | Outperform | $420 → $450 |
| 2026-09-03 | Rosenblatt | Maintained | Buy | $410 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +28.0% | +120.3% |
| S&P 500 (SPY) | +14.7% | +77.5% |
| Per year | +28.0% | +17.1% |
| Volatility (annualized) | 31.5% | 32.1% |
| Max drawdown | -21.1% (May 2026→Jul 2026) | -41.9% (Nov 2021→Oct 2022) |

## Peers (Internet Content & Information)
META (Meta Platforms, Inc.) USD 644.01 -0.75% · SPOT (Spotify Technology S.A.) USD 582.85 -0.14% · NBIS (Nebius Group N.V.) USD 160.8 +1.02% · RDDT (Reddit, Inc.) USD 148.25 -1.34% · BIDU (Baidu, Inc.) USD 77.58 -0.51% · TME (Tencent Music Entertainment Gro) USD 8.56 -0.43%

## More
Full page: https://nexqual.com/GOOGL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name GOOGL in their own reports (relationship from GOOGL's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| competitor | TREASURE GLOBAL INC (TGL) | 10-K 2026-10-13 | "The resulting promotion of Google's own competing products in its web search results has negatively impacted the search ranking of our website." |
| customer | IDT CORP (IDT) | 10-K 2026-09-29 | "We utilize AWS' and Google Cloud's high availability configurations using multiple availability zones and, in some cases, we have services deployed in multiple AWS regions." |
| partner | AIRWA INC. (YYAI) | 10-K 2026-09-21 | "partners, resellers, and other intermediaries that have relationships with Google, Meta, TikTok and other digital advertising platforms" |
| competitor | Nutanix, Inc. (NTNX) | 10-K 2026-09-18 | "providers of public cloud infrastructure and SaaS-based offerings, such as AWS, Google Cloud, Oracle Cloud, and Azure; and" |
| customer | Innovation Beverage Group Ltd (IBG) | 20-F 2026-09-17 | "brand awareness, paid media spend (from retailers) and, through our experience, Google's tendency to rank brand and supplier websites" |
| supplier | LuxExperience B.V. (LUXE) | 20-F 2026-09-16 | "Further, digital platforms such as Apple and Google have announced changes to their privacy policies that, as implemented, could adversely affect our ability to provide more relevant online advertisem…" |
| competitor | Palo Alto Networks Inc (PANW) | 10-K 2026-09-10 | "•large companies that incorporate security or observability features in their products, such as Alphabet Inc., Cisco Systems, Inc., and Microsoft Corporation, or those that have acquired, or may acqui…" |
| supplier | IBEX Ltd (IBEX) | 10-K 2026-09-10 | "We derive a significant portion of our customer acquisition website traffic from consumers who search products or services using Internet search engines, such as Google and Bing." |
| competitor | IREN Ltd (IREN) | 10-K 2026-08-27 | "As a global AI Cloud Services provider, we compete with hyperscalers, including Amazon Web Services, Google Cloud, Microsoft Azure and Oracle Cloud, as well as specialized AI Cloud Services providers,…" |
| competitor | QUINSTREET, INC (QNST) | 10-K 2026-08-26 | "Some of our competition also comes from agencies or clients spending directly with larger websites or portals, including Google, Yahoo!, Microsoft and Meta." |
| customer | Ubiquiti Inc. (UI) | 10-K 2026-08-21 | "We rely on third party service providers, such as G-Suite, Google Cloud and Amazon Web Services, to provide distributed computing infrastructure platforms for business operations, or what is commonly …" |
| competitor | ChronoScale Holdings Corp (CHRN) | 10-K 2026-08-19 | "We also compete with general purpose cloud computing providers including Amazon (AWS), Google (Google Cloud Platform), Microsoft (Azure), and Oracle." |
| partner | BRINKER INTERNATIONAL, INC (EAT) | 10-K 2026-08-19 | "Our To-Go menu is available through the Chili's mobile app, chilis.com, our delivery partners DoorDash, Uber Eats, and Grubhub, Google Food Ordering or by calling the restaurant directly." |
| partner | KNOREX LTD. (KNRX) | 20-F 2026-08-19 | "commitment to excellence has been recognized by our industry partners, including being enlisted as a Meta Business Partner and Google" |
| competitor | EXTREME NETWORKS INC (EXTR) | 10-K 2026-08-17 | "In that regard, we expect to face increased competition from certain cloud computing companies such as Amazon, Microsoft, and Google providing a cloud-based platform of data center compute and network…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Google Services | $94.54B | 78.9% | +14.5% | $39.54B | 41.8% |
| Google Cloud | $24.77B | 20.7% | +81.8% | $8.81B | 35.6% |
| All Other Segments | $382.0M | 0.3% | +2.4% | -$1.80B | -470.9% |
| Corporate costs (not allocated) | — | — | — | -$5.79B | — |
| Total revenue | $119.80B | 100% | — | $40.77B | 34.0% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Google Advertising Revenue | $81.63B | 68.1% | +14.4% |
| — Google Search Other (part of Google Advertising Revenue) | $63.27B | 52.8% | +16.8% |
| — You Tube Advertising Revenue (part of Google Advertising Revenue) | $11.05B | 9.2% | +12.9% |
| — Google Network (part of Google Advertising Revenue) | $7.30B | 6.1% | -0.7% |
| Subscriptions Platforms & Devices Revenue | $12.91B | 10.8% | +15.2% |
| Total revenue | $119.80B | 100% | — |
The lines above cover 78.9% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $60.85B | 50.8% | +32.1% |
| EMEA | $32.50B | 27.1% | +15.0% |
| Asia Pacific | $19.32B | 16.1% | +17.2% |
| Americas Excluding United States | $7.03B | 5.9% | +22.5% |
| Total revenue | $119.80B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.00 | $3.00 | +0.1% | $127.85B | 44 |
| Next quarter (ends 2026-12-31) | $3.34 | $3.33 | +0.3% | $142.72B | 41 |
| Current fiscal year (ends 2026-12-31) | $20.60 | $20.56 | +0.2% | $500.15B | 53 |
| Next fiscal year (ends 2027-12-31) | $15.12 | $14.76 | +2.4% | $626.82B | 52 |