At a glance
Alphabet Inc is worth $3.42T, about 26 times its fiscal 2025 earnings. Revenue grew 15.1% to $402.84B in fiscal 2025, with 32.8% kept as profit; over 5 years it has grown 17.2% a year. It pays a 0.31% dividend yield, and returned $296.42B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −1.1% over the past year with dividends reinvested and +14.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 30.8% in the 2020 crash (S&P 500: 33.7%) and 35.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 16 months after the lows.
The business in plain English
Alphabet is the parent company of Google. Most of its money comes from advertising: more than 70% of its $402.8 billion in 2025 revenue came from online ads. Businesses pay to show ads on Google Search, on YouTube and across the Google Network of partner websites and apps. Some ads aim for a click or a purchase. Others build awareness of a brand.
Google Services brought in $342.7 billion, or 85.1% of revenue, and it includes the ad business. It also sells subscriptions such as YouTube TV, YouTube Premium, NFL Sunday Ticket and Google One. It earns money from app and in-app sales on Google Play and from Pixel phones too. Google Cloud brought in $58.7 billion, or 14.6%. It charges businesses usage-based fees and subscriptions for computing power, artificial intelligence (AI) tools, data analytics, cybersecurity and Google Workspace, which includes Gmail and Docs. Other Bets made $1.5 billion, or 0.4%. That group includes Waymo, a self-driving ride-hailing service.
Alphabet designs its own AI chips, called Tensor Processing Units. It builds its Gemini AI models into Search, the Gemini app and its Cloud offerings. By region, 48.2% of 2025 revenue came from the United States and 29.1% from Europe, the Middle East and Africa. Another 16.8% came from Asia-Pacific and 5.9% from the rest of the Americas.
Price history
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GOOG -1.1% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Google Services | $342.72B | 85.1% |
| Google Cloud | $58.70B | 14.6% |
| Other Bets | $1.54B | 0.4% |
By geography
| United States | $194.23B | 48.2% |
| EMEA | $117.15B | 29.1% |
| APAC | $67.68B | 16.8% |
| Other Americas | $23.90B | 5.9% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $127.58B, up 24.7% from a year earlier, and net income was $26.47B (-24.3%).
- For fiscal 2025, revenue was $402.84B (+15.1% year over year; +17.2% a year from FY2020 to FY2025) with a 32.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +17.2% good |
|---|---|
| Operating margin | 32% good |
| Free cash flow margin | 18.2% good |
| Return on equity (FY2025) | 31.8% good |
| Return on assets (FY2025) | 22.2% good |
| Net cash (cash minus debt) | $138.98B good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $182.53B | $40.27B | $42.84B |
| FY2021 | $257.64B | $76.03B | $67.01B |
| FY2022 | $282.84B | $59.97B | $60.01B |
| FY2023 | $307.39B | $73.80B | $69.50B |
| FY2024 | $350.02B | $100.12B | $72.76B |
| FY2025 | $402.84B | $132.17B | $73.27B |
Valuation snapshot
| Market value | $3.42T |
|---|---|
| P/E ratio | 25.7 |
| Dividend yield | 0.31% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| GOOG price data to Nov 2, 2026 | -11.2% | -1.1% | +29.7% | +14.0% | +22.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -11.2% |
| 2025 | +65.4% |
| 2024 | +35.6% |
| 2023 | +58.8% |
| 2022 | -38.7% |
| 2021 | +65.2% |
| 2020 | +31.0% |
| 2019 | +29.1% |
| 2018 | -1.0% |
| 2017 | +35.6% |
| 2016 | +1.7% |
| 2015 | +44.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 30.8% over that stretch · deepest drop along the way 30.8%, back to its old high 3.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 32.2% over that stretch · deepest drop along the way 35%, back to its old high 15.8 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 2 sales ($52K), 2 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 30, 2026 | Frances Arnold Director | sell (plan) | $28K |
| Oct 29, 2026 | Frances Arnold Director | sell (plan) | $23K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.48% | Mar 31, 2026 |
| Sergey Brin | 5.81% | Dec 31, 2025 |
| Eric E. Schmidt | 0.83% | Jun 30, 2025 |
ETFs with the most weight in GOOG
| BCHP Principal Focused Blue Chip ETF | 11.44% |
| IXP iShares Global Comm Services ETF | 9.81% |
| FCOM Fidelity MSCI Communication Services Index ETF | 9.8% |
| VOX Vanguard Communication Services ETF | 9.51% |
| PNQI Invesco NASDAQ Internet ETF | 8.33% |
| IWFG NYLI Winslow Focused Large Cap Growth ETF | 7.26% |
| XLC Communication Services Select Sector SPDR Fund | 7.14% |
| USSE Segall Bryant & Hamill Select Equity ETF | 7.02% |
What could go wrong
- Heavy dependence on advertising. More than 70% of revenue came from online ads in 2025. Many advertisers can leave at any time, ad budgets tend to shrink in weak economies, and ad blockers and privacy changes can limit ads.
- AI could reshape search and ads. Alphabet says AI is quickly changing how online ads are delivered. New AI features such as AI Overviews could change user behavior and revenue trends, and its new ad formats may not succeed.
- Heavy AI spending may not pay off. Alphabet is spending heavily on data centers, custom chips and leased computing capacity, and it has large long-term contracts. These may not earn an adequate return, and a downturn could leave costly unused capacity.
- Lawsuits, regulators and antitrust cases. Alphabet faces lawsuits, government investigations and competition (antitrust) cases in many countries, plus fast-changing privacy rules. The outcomes could bring large costs or limits on how it runs its business.
- Intense competition in cloud and devices. Alphabet competes in search, video, cloud and devices. Its phones and other devices face short product cycles and price-sensitive buyers, and it must keep innovating or risk losing users and customers.
- Concentrated ownership limits shareholder influence. Alphabet says its concentrated stock ownership limits other shareholders' say in corporate matters. Its charter and Delaware law could also discourage a takeover that shareholders might welcome.
Recent events
- Quarterly results released
- Other company announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
- Major agreement signed; Change to shareholder rights; Bylaws or fiscal year changed
- Executive or board change
- Major agreement signed; Investor presentation or announcement; Other company announcement
- Other company announcement
- Quarterly results released
- Executive or board change
For income and retirement investors
Alphabet paid no dividend in fiscal 2022 or 2023. It then paid $0.60 per share in fiscal 2024 and $0.83 in fiscal 2025, so its record of annual increases is short. The payout is small: 7.6% of earnings and 13.7% of free cash flow (the cash left after paying for data centers and other equipment). The yield was 0.31% as of October 30, 2026. Investors who need income would get little cash and would likely need to sell shares instead. Alphabet returns far more through buybacks, which shrink the share count: $279.0 billion over fiscal 2021–2025, against $17.4 billion in dividends.
The shares have fallen hard in downturns. They dropped 30.8% in the 2020 COVID crash and got back to their earlier high about 3.6 months after the low. In 2022 they fell 35% and took about 15.8 months to recover. As of October 30, 2026, they were down 27.1% over six months. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Alphabet make money?
Mostly from advertising. Alphabet earned more than 70% of its fiscal 2025 revenue from online ads on Google Search, YouTube and partner websites. By segment, Google Services brought in $342.7 billion of the $402.8 billion total (85.1%). That figure also includes YouTube subscriptions, Google Play app sales and Pixel devices. Google Cloud sells computing power, AI tools and Workspace apps to businesses, and it added $58.7 billion (14.6%). Other Bets, including the driverless ride-hailing company Waymo, contributed $1.5 billion (0.4%).
Does Alphabet pay a dividend?
Yes, though the payout is small. Alphabet paid no dividends in 2022 or 2023. It then paid $0.60 per share in fiscal 2024 and $0.83 in fiscal 2025. The dividend yield is a year's dividends as a share of the stock price. It was 0.27% as of October 27, 2026, so the stock produces little income. Far more cash goes to share repurchases, where the company purchases its own stock: $279 billion from fiscal 2021 through 2025, against $17.4 billion in dividends. Alphabet's annual report says neither program is guaranteed to continue.
How much has Alphabet stock gone up in the last 10 years?
Alphabet's share price rose about 704% over the 10 years to October 27, 2026. That works out to 23.2% a year on average. Over five years the gain was 118%, or 16.9% a year. Over one year it was 17.7%. The path was uneven. The stock lost 38.7% in calendar 2022, then gained 58.8% in 2023, 35.6% in 2024 and 65.4% in 2025. Gains this large came with deep drops along the way, and past returns do not predict future ones.
How much did Alphabet stock fall in past market crashes?
Alphabet fell 35% in the 2022 market slump and 30.8% in the 2020 COVID crash. The 2022 drop ran from February 2 to September 30, 2022. The shares did not get back to their peak until January 23, 2024, 15.8 months after the low. The 2020 recovery took 3.6 months. The worst fall in 12.6 years of price history was 44.6%. Beta measures how much a stock swings compared with the market. Alphabet's beta was 1.39 for the year to October 27, 2026, meaning larger swings than the market.
What is Alphabet's P/E ratio?
It was 29.3 as of October 27, 2026, based on fiscal 2025 earnings of $10.81 per share. The price-to-earnings (P/E) ratio shows how many dollars investors pay for each dollar of yearly profit. For context, fiscal 2025 revenue grew 15.1% and net income grew 32%. The net margin, or profit kept from each dollar of sales, was 32.8%. Cash and investments were $142.3 billion more than debt as of June 30, 2026. The higher the P/E, the less room there is for disappointment if growth slows.