+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 28, 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 28, 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 28, 2026, 4:51 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.
The richest companies on the planet have decided they need to borrow money. A lot of it.
Alphabet, Amazon, Meta Platforms, Microsoft, and Oracle have collectively issued $159 billion in bonds through just the first five months of 2026. To put that in perspective, those same five companies raised roughly $150 billion in bonds across the entire 2020 to 2024 period. They blew past a half-decade’s worth of borrowing before summer even started.
The AI money pit
Hyperscalers, the industry term for the handful of cloud giants that operate the world’s largest data centers, are projected to spend over $770 billion in capital expenditures in 2026 alone.
Morgan Stanley projects that total US high-grade bond issuance from hyperscalers and adjacent firms could hit roughly $400 billion for the full year. Globally, AI-related debt issuance forecasts sit near $570 billion for 2026.
S&P Global data illustrates the velocity of the shift: hyperscalers have priced $225 billion in debt through mid-2026, nearly a 10x increase from prior comparable periods.
What they’re actually buying
The spending is going exactly where you’d expect: data centers, GPUs, networking equipment, and the power infrastructure to keep it all running.
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Alphabet’s bond offering stands out as particularly aggressive. The company priced a multi-currency deal worth approximately $20 billion to $31.5 billion, which included a rare 100-year sterling bond.
Microsoft, meanwhile, issued $19.75 billion in bonds during this period.
Bond market fatigue is setting in
Order book coverage ratios, which measure how much demand exists relative to the bonds being sold, have declined sharply. In February, these ratios sat around 5x, meaning investors were offering to buy five dollars of bonds for every dollar available. By July, that ratio had dropped below 2x.
The practical consequences are already materializing. Issuers are having to offer wider concessions, essentially sweetening the deal to attract buyers. Tech credit spreads have also underperformed relative to the broader investment-grade market, a reversal from the sector’s traditional premium positioning.
A strategic pivot with long-term consequences
For credit market participants, the implications are significant. Tech companies are rapidly increasing their weight in investment-grade bond indexes, which means passive funds and institutional portfolios are gaining exposure to the sector whether they want it or not.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
