Communication Services · Interactive Media & Services · US stock · price as of 16 Oct 2026
Key indicators
Price
$336.91
52-week range
$244.03 – $403.96
Market cap
$4.15T
P/E (trailing)
16.9×
EV / EBITDA
27.1×
Free-cash-flow yield
1.3%
Dividend yield
0.3%
Revenue (last 12 months)
$445.9B
Revenue growth (3y a year)
12.5%
Operating margin
33.1%
Return on invested capital
23.3%
Net debt / EBITDA
-0.8×
Fair value
Blended fair value$294.48 range $276 – $316
Versus priceFair−13% to fair value
Peer multiples
$218.27
Fundamentals-adjusted multiple
$385.67
10-year DCF (market-scaled)
$279.51
Earnings power value (floor, not blended)
$84.71
Model uncertainty
Medium
X-Ray Score
52/ 100 · High confidence · ahead of 50% of sector peers
Valuation30
Growth61
Profitability55
Financial health77
Dividends35
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Alphabet is the parent company of Google and several other businesses. Its main source of revenue is advertising shown on Google Search, YouTube and a network of partner sites. It also earns money from cloud computing and data services, subscriptions, app store sales and hardware devices. Other Bets, such as the self-driving unit Waymo, are earlier stage ventures that contribute little revenue and absorb considerable investment.
The company reported trailing revenue of $445.9 billion and three-year growth of 12.5% a year. Profitability figures show an operating margin of 33.1% and a return on invested capital of 23%. On leverage, net debt to EBITDA is -0.8 times, so cash exceeds debt. The dividend yield is 0.3%. Taken together, these numbers give a factual snapshot of the business.
StocksXray gives Alphabet Inc. an X-Ray Score of 52 out of 100 (high confidence), ahead of 50% of the S&P 500 stocks in its sector. Its strongest lens is financial health (77) and its weakest is valuation (30).
Our fair value blend is $294.48 (range $275.98 to $315.84). At $336.91 the stock trades 14% above that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Alphabet Inc. (GOOG)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$143.32
$87.90
$139.61
$189.33
$313.19
$336.91
Market cap
–
$1.16T
$1.78T
$2.36T
$3.83T
$4.15T
P/E
25.5×
19.3×
24.1×
23.5×
29.0×
16.9×
EV / revenue
–
3.7×
5.5×
6.5×
9.3×
9.0×
EV / EBITDA
–
14.1×
19.9×
20.2×
29.1×
27.1×
Price / free cash flow
–
19.3×
25.6×
32.4×
52.3×
77.8×
Free-cash-flow yield
–
5.2%
3.9%
3.1%
1.9%
1.3%
Price / book
–
4.5×
6.3×
7.2×
9.2×
6.5×
Dividend yield
–
–
–
0.32%
0.27%
0.26%
Fundamentals checklist ● 6 Good · ● 6 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash6.3%Bad
Free-cash-flow yield1.3%Bad
Risk models
Altman Z score6.8×Good
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)33.3%Average
Free-cash-flow growth (3y)6.9%Average
Revenue growth (3y)12.5%Average
Growth consistency100%Good
Balance sheet
Current ratio2.7×Good
Net debt / EBITDA-0.8×Good
Interest coverno interest costGood
Valuation
Fair value vs price0.9×Average
EBIT / EV yield3.7%Bad
Profitability
Return on invested capital23.3%Average
Operating margin33.1%Good
Gross profitability29.4%Bad
XStocksXray
Alphabet Inc. (GOOG)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
257,637
282,836
307,394
350,018
402,836
445,867
Gross profit
146,698
156,633
174,062
203,712
240,301
271,517
Operating income
78,714
74,842
84,293
112,390
129,039
147,628
Net income
76,033
59,972
73,795
100,118
132,170
244,205
Diluted EPS ($)
5.61
4.56
5.80
8.04
10.81
19.94
Free cash flow
67,012
60,010
69,495
72,764
73,266
53,273
Gross margin
56.9%
55.4%
56.6%
58.2%
59.7%
60.9%
Operating margin
30.6%
26.5%
27.4%
32.1%
32.0%
33.1%
Net margin
29.5%
21.2%
24.0%
28.6%
32.8%
54.8%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
359,268
365,264
402,392
450,256
595,281
921,983
Cash
20,945
21,879
24,048
23,466
30,708
55,911
Total debt
14,817
14,701
12,870
14,182
48,543
100,164
Equity
251,635
256,144
283,379
325,084
415,265
640,480
Dividend per share ($)
–
–
–
0.60
0.83
0.85
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.