Alphabet Inc - Ordinary Shares - Class C

Alphabet Inc - Ordinary Shares - Class C

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Market Cap$4.19T
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Alphabet Inc - Ordinary Shares - Class CAlphabet Inc - Ordinary Shares - Class C26.20.25%33%9.40.2

Earnings Call Q2 2026

July 22, 2026 - AI Summary

Strong topline growth, margin resilience; margins partly lifted by investment mix and OI&E - Alphabet reported Q2 revenue of ~$119.8B (+24% YoY; +23% constant currency) and 12th straight quarter of double-digit growth. - Operating income ~$40.8B (+30% YoY) with operating margin ~34%. - Costs rose faster than revenue: total operating expenses ~$33.1B (+27%) and capex-heavy technical infrastructure is pressuring free cash flow. - Net income and EPS increased sharply, largely attributed to unrealized gains in equity investments (OI&E), which investors should treat as non-operating/mark-to-market volatility, not core operating improvement.
Core segments: Search/YouTube momentum and a very strong Cloud inflection - Google Services revenue ~$94.5B (+15%): - Search & other ads ~$63.3B (+17%) with retail/finance as key drivers. - YouTube ads ~$11.1B (+13%); network ads -1% YoY (mild drag). - Subscriptions & devices ~$12.9B (+15%), driven by YouTube Music/Premium and Google One AI plans. - Google Cloud revenue ~$24.8B (+82%) with operating income ~$8.8B and operating margin ~35.6% (up materially YoY). - Backlog jumped to ~$514B (up >$50B sequentially), driven by Enterprise AI demand; company expects to recognize just over 50% of backlog over the next 24 months. - Surprising/important: Cloud growth remained strong even after excluding TPU system sales impacts, implying a real underlying demand engine beyond product deliveries.
AI demand is real but the bottleneck is supply (compute); massive usage signals ROIC runway - Company continues to be supply constrained, which management frames as a positive signal of rapid adoption (i.e., demand > supply). - Model/API usage accelerated: developer activity >9M devs building monthly and ~22B tokens processed per minute/period (“permanent” wording in transcript) vs ~$16B last quarter (material sequential jump). - Enterprise adoption highlight: ~90% of Fortune 100 using Gemini Enterprise. - Gemini app engagement: ~950M monthly active users; daily actives tripled YoY. - Opportunity theme: management emphasizes full-stack AI (models + chips + data + security + agent platforms) creating differentiated customer value, especially in Cloud.

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$436.23

Target Price by Analysts

36.7% upsideAlphabet Target Price DetailsTarget Price
$165.77

Current Fair Value

48% downside

Overvalued by 48% based on the discounted cash flow analysis.

Share Statistics

Market cap$4.19 Trillion
Enterprise Value$4.27 Trillion
Dividend Yield$0.85 (0.25%)
Earnings per Share$10.91
Beta1.25
Outstanding Shares12,099,000,000

Return

Return on Equity33.46%ROE
Return on Assets22.76%
Return on Invested Capital33.01%

Valuation & Multiples

P/E Ratio26.19P/E Ratio
PEG32.26PEG
Price to Sales9.39Price to Sales
Price to Book Ratio8.18Price to Book Ratio
Enterprise Value to Revenue10.1
Enterprise Value to EBIT21.8
Enterprise Value to Net Income26
Total Debt to Enterprise0.03
Debt to Equity0.23Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 23, 2026
EPS Estimate
$2.86
Average shareholder expectation
Revenue Estimate
$116.53 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 27, 2026
EPS Estimate
$3.00
Average shareholder expectation
Revenue Estimate
$124.28 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.7790▼ 13.81%
Total Calls36,200▼ 99.93%
Total Puts28,200▼ 99.94%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %0.71%▼ 25.51%
Total Invested$29.89B▼ 96.71%
Investors Holding1,265▼ 4009.00%

ESG Score

No data

About Alphabet Inc

135,301 employees
CEO: Sundar Pichai

Larry Page and Sergey Brin founded Google in September 1998. Since then, the company has grown to more than 130,000 employees worldwide, with a wide range of popular products and platforms like Search, Maps, Ads, Gmail, Android, Chrome, ...

Relevant Senate Committees

Joint Committee on Taxation

Provides official revenue estimates and technical analysis for all tax bills, profoundly influencing corporate tax structures and the overall tax burden on large companies like Alphabet.

Finance

As the primary tax-writing committee, it controls taxation and trade policy, directly impacting Alphabet's corporate tax burden, international operations, and supply chain costs.

Appropriations

Directly allocates discretionary federal spending, with subcommittees determining precise cash flow for defense programs, scientific research, and infrastructure projects, which can lead to significant contracts for Google Cloud and R&D funding for Alphabet.

Judiciary

This committee is central to antitrust enforcement (a significant concern for Alphabet given past investigations), intellectual property protection (critical for Google's patents and content platforms), and M&A oversight.

Commerce, Science, and Transportation

This committee has vast jurisdiction over interstate commerce, the FCC, and FTC, directly impacting 'Big Tech' through privacy, net neutrality, data regulation, and antitrust concerns for Google Search, Android, and YouTube.

Homeland Security and Governmental Affairs

This committee directly impacts Google Cloud's government contracting opportunities and increasingly regulates emerging risks like Artificial Intelligence in financial markets, a core area for Alphabet.