+15.1% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income
132,170,000,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin
32.0% (FY ended 2025-12-31)
Forward P/E
Unavailable: no dated forecast source
Gloria daily close for session Oct 27, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.
Alphabet Inc. and its peers
Company
Price
Market cap
P/E (trailing)
Forward P/E
Annual revenue (USD)
Annual revenue growth
Annual net income (USD)
Operating margin
Alphabet Inc.
GOOGL · Price dated Oct 27, 2026 · tokenized GOOGLx
3,333,751,000FY ended 2025-12-31, attributable to the company · 10-K
75.8%FY ended 2025-12-31
Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.
Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 27, 2026, 10:51 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.
Token vs underlying stock
Current comparison for GOOGL. Historical observations may postdate this article.
Split-adjusted regular-session stock closes from the existing Gloria shared history, paired only with an observed token price within 45 minutes of 16:00 New York time. Up to 60 matched sessions. No interpolation or missing-date fill. Weekends and known early closes are omitted. Token units are not adjusted for issuer multipliers or dividend treatment. This compares quoted prices, not fair value, executable premiums or arbitrage returns. Solid line: token. Dashed line: stock. Exact quote times and values appear below. Historical observations. Retrieval refers to the token source. Token quote times use UTC. The fixed cohort shows its oldest member fetch.
Alphabet token vs Alphabet stock: exact source values
Quoted token and share units can have different rights, multipliers and dividend treatment. This is not an executable premium or arbitrage signal.
Alphabet still expects to spend $195 billion to $205 billion on capital expenditures this fiscal year. The company first raised that range in July, and it held firm after its latest results.
The numbers behind the plan
Alphabet lifted its fiscal 2026 capex outlook during its second-quarter earnings call on July 22/23, 2026. The previous range was $180 billion to $190 billion, so the midpoint jumped by $15 billion in a single update.
When the company reported third-quarter results on October 28, 2026, it reaffirmed the higher range. Q3 capex came in at $51.36 billion.
That followed $44.9 billion in Q2, which was nearly double what Alphabet spent in the same quarter a year earlier.
Most of the money is going into hardware. About 60% of the planned spending is earmarked for servers and AI accelerators, the specialized chips that train and run models like Gemini.
Google Cloud’s revenue grew 82% year-over-year to $24.8 billion in Q2. In Q3, cloud revenue rose 103% to $30.71 billion, meaning the business more than doubled compared with a year earlier.
Google Cloud’s backlog now exceeds $500 billion, representing contracted work that has yet to be recognized as revenue.
The cost: negative free cash flow
Free cash flow turned negative by $5.9 billion in Q2. It worsened in Q3 to a $9.07 billion outflow. Alphabet posting negative free cash flow in back-to-back quarters marks the first time that has happened in nearly two decades.
Alphabet is not short on revenue. It is simply choosing to plow more than it earns back into infrastructure for now.
Background: an AI arms race measured in billions
The July guidance raise was a turning point in tone. Rather than signaling caution, Alphabet told investors it would accelerate, and the October reaffirmation confirmed it was not a one-off gesture.
What this means
Watch three things in the quarters ahead. First, whether cloud revenue growth holds near triple digits; second, how quickly backlog converts into recognized revenue; and third, when free cash flow turns positive again.
Pichai’s comment that compute demand is outrunning supply cuts both ways. It explains the spending, but it also means Alphabet’s growth is partly capped by how fast it can build.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
