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Alphabet
S&P 500 Nasdaq 100
$4.36T
Market Cap
28.6
P/E
1.91
PEG
34.9%
ROCE
35.7%
ROE
0.16
D/E
32.0%
OPM
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🌏 Global Investor Returns
Currency-adjusted total returns for GOOGL including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
Shareholding
About

Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.

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⭐ Superinvestors Holding GOOGL
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Manager Shares Value % of Fund Period
Daniel Loeb Third Point LLC 175.0K $50.3B 2.42% Mar 2026
Warren Buffett Berkshire Hathaway Inc 41.28M $11.9B 4.51% Mar 2026
Tiger Global Management Tiger Global Management LLC 10.63M $3.1B 13.38% Mar 2026
Warren Buffett Berkshire Hathaway Inc 6.70M $1.9B 0.73% Mar 2026
Warren Buffett Berkshire Hathaway Inc 6.25M $1.8B 0.68% Mar 2026
Warren Buffett Berkshire Hathaway Inc 3.59M $1.0B 0.39% Mar 2026
Li Lu Himalaya Capital Management 2.54M $731.4M 22.85% Mar 2026
Li Lu Himalaya Capital Management 2.45M $703.2M 21.97% Mar 2026
Andreas Halvorsen Viking Global Investors 2.40M $689.0M 1.93% Mar 2026
David Tepper Appaloosa LP 1.73M $497.0M 8.38% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q4 2025
Revenue
$113.8B
+18% YoY
Operating Income
$35.9B
+16% YoY
Operating Margin
31.6%
-0.4pp YoY
Net Income
$34.5B
+30% YoY
What Went Right
  • Search revenue accelerated to 17% YoY growth, driven by AI Overviews and AI Mode engagement
  • Google Cloud revenue surged 48% YoY to $17.7B, with backlog doubling to $240B
  • Gemini app reached 750M monthly active users; Gemini Enterprise sold 8M+ paid seats in 4 months
What to Watch
  • YouTube ad revenue growth slowed to 9% YoY due to lapping US election spend
  • 2026 CapEx guided at $175B-$185B, significantly higher than 2025's $91.4B, implying pressure on depreciation and margins
  • Supply constraints persist; management expects tight capacity throughout 2026
Management Guidance
  • Expect FX tailwind to consolidated Q1 2026 revenues at current spot rates
  • 2026 CapEx in range of $175B-$185B, ramping over the course of the year
  • Depreciation growth to accelerate in Q1 2026 and meaningfully increase for full year 2026
Investor Lens
The thesis is stronger after this call. AI investments are translating into tangible revenue acceleration across Search, Cloud, and subscriptions, with Cloud backlog doubling and Gemini adoption scaling rapidly. However, the massive step-up in CapEx guidance (nearly double 2025) raises questions about near-term margin expansion and supply-chain execution. The combination of strong demand signals and disciplined cost management elsewhere supports the long-term AI opportunity.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong Q4 with record revenue, AI momentum across segments
Revenue
Alphabet Q4 consolidated revenue reached $113.8B, up 18% YoY (17% constant currency), exceeding $400B for the first time in fiscal 2025. The growth was led by Google Search & other ($63.1B, +17%) and Google Cloud ($17.7B, +48%), while YouTube ads grew 9% to $11.4B and subscriptions/platforms/devices rose 17% to $13.6B.
Profitability
Net income increased 30% YoY to $34.5B, and diluted EPS rose 31% to $2.82. Operating income grew 16% to $35.9B, but included a $2.1B stock-based compensation charge related to Waymo's valuation increase.
Margins
Operating margin was 31.6%, down slightly from 32% in the prior year, impacted by the Waymo charge and higher R&D investment. Google Services operating margin improved to 41.9% (from 39.0%), while Google Cloud margin more than doubled to 30.1% (from 17.5%). Other cost of revenues rose 13% driven by depreciation and content costs.
Balance Sheet
The company ended Q4 with $126.8B in cash and marketable securities and $46.5B in long-term debt. Record operating cash flow of $52.4B translated into $24.6B of free cash flow. CapEx for Q4 was $27.9B and $91.4B for full year 2025.
Key Risks
Management flagged supply constraints for AI compute as a key risk, expecting tight capacity through 2026. YouTube ad growth was negatively impacted by lapping strong US political ad spend. The large CapEx step-up will accelerate depreciation and data center operating costs, pressuring near-term margins.
Outlook
For Q1 2026, Alphabet expects an FX tailwind to revenue at current spot rates. For full year 2026, CapEx is guided between $175B-$185B with ramp over the year, and depreciation growth will accelerate significantly in Q1.
Generated by AI · Q4 2025 results · Not investment advice
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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