# Alphabet Inc. (Class C) (GOOG) — Financial Analysis

**Exchange:** NASDAQ  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-12  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/GOOG/thesis · /stocks/GOOG/memo

## Financial Snapshot

---
ticker: GOOG
step: 04
generated: 2026-05-11
source: quick-research
---

### Alphabet Inc. Class C (GOOG) — Financial Snapshot

> **Note:** Financials are identical to GOOGL (Class A) since both share classes represent the same underlying company. The only difference is voting rights — economic exposure is identical.

#### Income Statement Summary

| Metric | FY2023 | FY2024 | FY2025 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | $307.4B | $350.0B | $389.7B | +11% |
| Gross Margin | 56.9% | 58.2% | 59.5% | +1.3pp |
| Operating Margin | 27.4% | 32.1% | 33.5% | +1.4pp |
| Net Income | $73.8B | $100.1B | $115.4B | +15% |
| EPS (diluted) | $5.80 | $7.97 | $9.40 | +18% |

#### Cash Flow & Balance Sheet (FY2025)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$165B |
| Capital Expenditures | ($91.5B) |
| Free Cash Flow | ~$73.3B |
| Cash & Marketable Securities | ~$95B |
| Total Debt | ~$28B |
| Buybacks (2025) | ~$60B |
| Dividends Paid (2025) | ~$10B |

#### Key Ratios (approximate, as of May 2026)
- P/E: ~22x | EV/EBITDA: ~16x | FCF Yield: ~3% (compressing due to CapEx)
- Revenue Growth (TTM): ~14% | FCF Margin: ~19%
- Net cash position: ~$67B

#### Growth Profile
Q1 2026 revenue grew 22% YoY to $109.9B (EPS +82% to $5.11), with Google Cloud accelerating to +63% YoY ($20B in quarterly revenue). Search remains the largest segment growing ~19%. The big swing factor through 2026–27 is CapEx — guided to $180–190B for 2026 (vs. $91B in 2025) to support AI infrastructure, which will sharply compress FCF in the near term while management bets on AI monetization.

#### Forward Estimates
- **2026E Revenue:** ~$435B (consensus, +12%)
- **2026E EPS:** ~$10.50 (consensus, +12%)
- **2026E FCF:** ~$20B (consensus, down ~72% YoY as CapEx absorbs cash)
- **2027E Revenue:** ~$490B
- **2027E EPS:** ~$12.50

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/GOOG/fundamental

## Navigation

- Overview: /stocks/GOOG
- Financials (this page): /stocks/GOOG/financials
- Thesis: /stocks/GOOG/thesis
- Investment Memo: /stocks/GOOG/memo
- Coverage universe: /stocks