NASDAQ · GOOGL

Alphabet Inc.

Communication Services · Internet Content & Information

$332.60▲ 0.59% ($1.95)at close

After hours$331.72▼ 0.27%6:35 PM ET

52-week

$235.84$408.61

What the market price implies · Reverse DCF

To support a price of $332.60, this model requires revenue to grow by 22.18%/yr over the next 10 years, compounded annually.

Historical revenue grew by 11.82%/yr over the past 4 years. The required annual growth rate is 10.36 percentage points higher.

Selected forecast · Base scenario

10.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 16.64%

Market-implied · Base operating assumptions + edited margins

22.18%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$332.60

Estimated value / share

$156.88

Base scenario

This estimate is 52.83% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 16.64% · Ending margin 30% · Discount rate 11.47%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 10, 2026, 9:09 PM UTC · cache

Why this method?

FCFF is positive, but the series is too unstable to anchor a direct cash-flow CAGR and the business still fails the steady-state comparability checks. Use a revenue-and-margin transition model instead of normalizing and compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 21 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 13.6%. Latest capex is 2.9x the prior median, which points to a capex supercycle that should be normalized first.

Do you have 5+ years of positive FCFF history? 21 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Revenue is still growing 24.2%, above the 15.0% maturity threshold, so a steady-state FCFF model would lean too heavily on a business still scaling.

Price vs Fundamentals

Why The Stock Is Moving

Optimism is getting priced inModerate confidence

1Y Price: 39.06%Revenue (TTM): 20.05%FCF (TTM): -20.16%P/FCF: 98th pct

What changed

The stock rose 39.06% over the last year. Revenue grew 20.05% over the trailing twelve months. Operating margin moved from 32.68% to 33.15%. Free cash flow declined 20.16% over the trailing twelve months.

What the market seems to be pricing

The stock is trading toward the richer end of its historical P/FCF range (98th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.

What would invalidate this read

Operating margin is at 33.15% — continued expansion would be needed to justify the premium. Revenue growth of 20.05% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.

Performance

Return analysis

Company profile

Alphabet Inc. provides a diverse range of products and digital platforms to consumers across multiple global regions, including North and South America, Europe, the Middle East, Africa, and the Asia-Pacific.

CEOSundar Pichai

SectorCommunication Services

IndustryInternet Content & Information

Employees198,933

IPO dateAug 19, 2004

https://www.abc.xyz

Market multiples

Forward P/E—

EV/EBITDA21.20

Enterprise value$3.83T

Stock splits

Jul 18, 2022↑ Forward

Every 1 shares became 20

+1900%

Apr 3, 2014↑ Forward

Every 500 shares became 999

+100%

Profitability & growth

Revenue growth24.23%

Gross margin60.9%▲1.5ppvs FY2024

Operating margin33.15%0.0ppvs FY2024

ROE48.68%▲13.0ppvs FY2025

Analyst consensus

RatingBuy

Target price$428.14▲28.73%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 28, 2026

Q4 FY26 · EPS est $3.02 · Revenue est $126.66B

View

Dividends

$0.86/shareQuarterlySafe

GOOGL pays a dividend with a 0.26% dividend yield, covered 7.3× by free cash flow.

Dividend Yield

0.26%

Annual Div / Share

$0.86

CAGR

—

Payout Ratio

4.22%

Safe

Dividend Growth Rate

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$0.86+4.9%

2025$0.82—

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$3/yr

$0/mo

In 5 yrs

$3/yr

$0/mo

In 10 yrs

$3/yr

$0/mo

Today	In 5 yrs	In 10 yrs
$3/yr $0/mo	$3/yr $0/mo	$3/yr $0/mo

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 7.3× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NASDAQ · GOOGL

Alphabet Inc.

Communication Services · Internet Content & Information

$332.60▲ 0.59% ($1.95)at close

After hours$331.72▼ 0.27%6:35 PM ET

52-week

$235.84$408.61

What the market price implies · Reverse DCF

To support a price of $332.60, this model requires revenue to grow by 22.18%/yr over the next 10 years, compounded annually.

Historical revenue grew by 11.82%/yr over the past 4 years. The required annual growth rate is 10.36 percentage points higher.

Selected forecast · Base scenario

10.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 16.64%

Market-implied · Base operating assumptions + edited margins

22.18%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$332.60

Estimated value / share

$156.88

Base scenario

This estimate is 52.83% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 16.64% · Ending margin 30% · Discount rate 11.47%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 10, 2026, 9:09 PM UTC · cache

Why this method?

Is FCFF positive and has it been for 3+ consecutive years? 21 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 13.6%. Latest capex is 2.9x the prior median, which points to a capex supercycle that should be normalized first.

Do you have 5+ years of positive FCFF history? 21 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Optimism is getting priced inModerate confidence

1Y Price: 39.06%Revenue (TTM): 20.05%FCF (TTM): -20.16%P/FCF: 98th pct

What changed

What the market seems to be pricing

The stock is trading toward the richer end of its historical P/FCF range (98th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.

What would invalidate this read

Performance

Return analysis

Company profile

CEOSundar Pichai

SectorCommunication Services

IndustryInternet Content & Information

Employees198,933

IPO dateAug 19, 2004

https://www.abc.xyz

Market multiples

Forward P/E—

EV/EBITDA21.20

Enterprise value$3.83T

Stock splits

Jul 18, 2022↑ Forward

Every 1 shares became 20

+1900%

Apr 3, 2014↑ Forward

Every 500 shares became 999

+100%

Profitability & growth

Revenue growth24.23%

Gross margin60.9%▲1.5ppvs FY2024

Operating margin33.15%0.0ppvs FY2024

ROE48.68%▲13.0ppvs FY2025

Analyst consensus

RatingBuy

Target price$428.14▲28.73%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 28, 2026

Q4 FY26 · EPS est $3.02 · Revenue est $126.66B

View

Dividends

$0.86/shareQuarterlySafe

GOOGL pays a dividend with a 0.26% dividend yield, covered 7.3× by free cash flow.

Dividend Yield

0.26%

Annual Div / Share

$0.86

CAGR

—

Payout Ratio

4.22%

Safe

Dividend Growth Rate

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$0.86+4.9%

2025$0.82—

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$3/yr

$0/mo

In 5 yrs

$3/yr

$0/mo

In 10 yrs

$3/yr

$0/mo

Today	In 5 yrs	In 10 yrs
$3/yr $0/mo	$3/yr $0/mo	$3/yr $0/mo

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 7.3× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.