+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.
Technology companies issued a record $108.7 billion in corporate bonds during Q4 2025, roughly double the amount from the prior quarter, according to Moody’s Analytics. For the full year of 2025, Big Tech firms collectively raised approximately $120 billion in corporate debt, almost entirely to fund artificial intelligence infrastructure.
Alphabet’s blockbuster deal sets the tone
The poster child for this trend landed in February 2026. Alphabet priced a $20 billion seven-part US dollar bond offering on February 9, upsized from an initial $15 billion target after investor demand went, to put it mildly, a bit wild.
The deal attracted over $100 billion in investor orders. That’s a 5x oversubscription ratio for a company that arguably doesn’t even need to borrow money. Alphabet achieved 25 basis points of spread compression during bookbuilding, meaning the cost of borrowing actually fell as more investors piled in.
Alphabet also introduced a 100-year sterling bond, the first time a tech company has issued century-duration debt since 1997.
The AI debt machine and its hidden risks
AI-related debt now accounts for approximately 15% of the entire US corporate bond universe. The so-called hyperscalers, think Alphabet, Microsoft, Amazon, and Meta, are the primary drivers. These companies carry pristine credit ratings and can borrow at razor-thin spreads above Treasuries. Credit spreads across the investment-grade market remain near historic lows, partly because so much of the new supply is coming from these well-capitalized issuers.
Macro, rates, and crypto—what moved markets and what matters next.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
But the story gets more complicated once you move beyond the trillion-dollar names. Some newer AI and data center issuers are facing a very different reception from the bond market. Select credits in this space have recorded spreads as high as 3.75 percentage points above comparable bonds, a stark contrast to the tight pricing that Alphabet and its peers enjoy. Some of these bonds have already declined in price after issuance, suggesting that even the investors who bought in at launch are having second thoughts.
What this means for investors watching from crypto
When investment-grade credit spreads sit near historic lows, it signals that institutional capital is comfortable with risk. That risk-on posture tends to flow across asset classes, supporting everything from equities to digital assets.
Companies that borrowed $120 billion in a single year to build data centers are making a bet that AI revenue will arrive in sufficient scale to service that debt. If growth expectations don’t materialize, the resulting credit deterioration could tighten financial conditions broadly.
The 3.75 percentage point premium being charged to less established AI issuers, combined with post-issuance price declines in select bonds, suggests that the market is already quietly differentiating between AI winners and AI hopefuls.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
