The company operates as a holding entity whose principal business is Google, organized into Google Services and Google Cloud segments, along with a collection of separate businesses reported as Other Bets. Google Services provides search, video, operating systems, browser, and hardware device products and generates revenue primarily through advertising along with subscriptions, app store sales, and device sales. Google Cloud provides infrastructure, platform, data and analytics, cybersecurity, and software offerings to enterprise customers on a consumption and subscription basis.
| Income statement · $ millions | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| Total revenues | 402,836 | 350,018 | 307,394 | 2 |
| · Google Services | 342,721 | 304,930 | 272,543 | |
| · Google Cloud | 58,705 | 43,229 | 33,088 | |
| · Other Bets | 1,537 | 1,648 | 1,527 | |
| Cost of revenue | 162,535 | 146,306 | 133,332 | 1 |
| Research and development | 61,087 | 49,326 | 45,427 | |
| Selling, general and administrative | 21,482 | 14,188 | 16,425 | |
| Total operating expenses | 273,797 | 237,628 | 223,101 | |
| Operating income | 129,039 | 112,390 | 84,293 | |
| Interest expense | — | — | 308 | |
| Other income (expense), net | 29,787 | 7,425 | 1,424 | |
| Income before income taxes | 158,826 | 119,815 | 85,717 | |
| Income tax provision | 26,656 | 19,697 | 11,922 | 1 |
| — of which current | 18,406 | 24,953 | 19,651 | 1 |
| Net income attributable to common | 132,170 | 100,118 | 73,795 | 2 |
| Diluted earnings per share | $10.81 | $8.04 | $5.80 | |
| Weighted-average diluted shares | 12,230 | 12,447 | 12,722 | 1 |
| Cash flow · $ millions | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| Net income incl. noncontrolling interests | 132,170 | 100,118 | 73,795 | |
| Share-based compensation | 24,953 | 22,785 | 22,460 | |
| Deferred income taxes | 8,250 | (5,256) | (7,729) | |
| Change in receivables | 8,779 | 5,891 | 7,833 | |
| Change in payables | 907 | 359 | 664 | |
| Net cash provided by operating activities | 164,713 | 125,299 | 101,746 | 4 |
| Capital expenditure | 91,447 | 52,535 | 32,251 | 2 |
| Net cash used in investing activities | (120,291) | (45,536) | (27,063) | |
| Dividends paid | 10,049 | 7,363 | 0 | 1 |
| Repurchases of common stock | 45,709 | 62,222 | 61,504 | 1 |
| Net cash used in financing activities | (37,388) | (79,733) | (72,093) | |
| Cash and equivalents at end of period | 30,708 | 23,466 | 24,048 |
| Balance sheet · $ millions | 2025 | 2024 | |
|---|---|---|---|
| Cash and cash equivalents | 30,708 | 23,466 | |
| Short-term investments | 96,135 | 72,191 | |
| Receivables, net | 62,886 | 52,340 | 1 |
| Inventories | 2,439 | — | |
| Total current assets | 206,038 | 163,711 | |
| Property, plant and equipment, net | — | 171,036 | |
| Goodwill | 33,380 | 31,885 | 1 |
| Intangible assets, net | 1,088 | — | |
| Total assets | 595,281 | 450,256 | 1 |
| Accounts payable | 12,200 | 7,987 | |
| Current debt | 1,996 | 999 | |
| Total current liabilities | 102,745 | 89,122 | |
| Long-term debt | 46,547 | 10,883 | |
| Total liabilities | 180,016 | 125,172 | |
| Stockholders' equity | 415,265 | 325,084 | |
| Total equity | 415,265 | 325,084 |
| Segments · as filed in the segment note · $ millions | Google Services | Google Cloud | Other Bets | Corporate / other | Consolidated |
|---|---|---|---|---|---|
| Net sales | 342,721 | 58,705 | 1,537 | (127) | 402,836 |
| Operating income | 139,404 | 13,910 | (7,515) | (16,760) | 129,039 |
| · operating margin | 40.7% | 23.7% | -488.9% | — | 32.0% |
| Revenue by product or service · as filed · $ millions | FY2025 | Share |
|---|---|---|
| Google Search & other | 224,532 | 55.7% |
| Google subscriptions, platforms, and devices | 48,030 | 11.9% |
| YouTube ads | 40,367 | 10.0% |
| Google Network | 29,792 | 7.4% |
| Other (filed total less lines shown) | 60,115 | 14.9% |
| Total revenues, as filed | 402,836 | 100.0% |
Product lines cover 85% of filed revenue; the rest is not tagged on this axis. Lines not filed as one figure are the sum of their filed pieces across segments.
| Revenue by geography · as filed · $ millions | FY2025 | Share |
|---|---|---|
| United States | 194,229 | 48.2% |
| EMEA | 117,152 | 29.1% |
| APAC | 67,680 | 16.8% |
| Other Americas | 23,902 | 5.9% |
| Total revenues, as filed | 402,836 | 100.0% |
Geographic lines sum to the filed total.
Lines render when they sum to the filed total within 0.5 percent. A reconciling line the company filed closes the gap at any size, and the table is split: every line shown is filed, nothing is implied. A computed line, the filed total less the lines shown, closes up to 5 percent of the total; beyond that the table is partial and says so. Members that add to more than the filed total are a conflict and are not shown. The tolerance is 0.5 percent of the filed total or 2 million dollars, whichever is larger; for a filed total under 400 million dollars the floor is the binding one and the table says within tolerance. Every figure is as filed, in millions of dollars; shares are arithmetic on filed lines.
| Largest FY/FY moves · $ millions, ranked by |Δ| | FY2025 | FY2024 | Δ $ | Δ % | Reading |
|---|---|---|---|---|---|
| Total assets · BS | 595,281 | 450,256 | +145,025 | +32.2% | — |
| Stockholders' equity · BS | 415,265 | 325,084 | +90,181 | +27.7% | — |
| Total equity · BS | 415,265 | 325,084 | +90,181 | +27.7% | — |
| Net cash used in investing activities · CF | (120,291) | (45,536) | −74,755 | -164.2% | ◐ outsized |
| Total liabilities · BS | 180,016 | 125,172 | +54,844 | +43.8% | — |
| Total revenues · IS | 402,836 | 350,018 | +52,818 | +15.1% | — |
| Net cash used in financing activities · CF | (37,388) | (79,733) | +42,345 | +53.1% | ◐ outsized |
| Total current assets · BS | 206,038 | 163,711 | +42,327 | +25.9% | — |
| Net cash provided by operating activities · CF | 164,713 | 125,299 | +39,414 | +31.5% | — |
| Income before income taxes · IS | 158,826 | 119,815 | +39,011 | +32.6% | — |
| Capital expenditure · CF | 91,447 | 52,535 | +38,912 | +74.1% | ◐ outsized |
| · Google Services · IS | 342,721 | 304,930 | +37,791 | +12.4% | — |
| Total operating expenses · IS | 273,797 | 237,628 | +36,169 | +15.2% | — |
| Long-term debt · BS | 46,547 | 10,883 | +35,664 | +327.7% | ◐ outsized |
| Business quality — Buffett/Munger screen · deterministic · not part of the filing score | Value | Reading |
|---|---|---|
| Return on equity net income ÷ average of start- and end-of-year equity | 35.7% sector median 16.6% | strong |
| Share count, year-end (year-end shares − prior year-end) ÷ prior year-end | -1.0% sector median +0.0% | shrinking |
| Debt to equity (current debt + long-term debt) ÷ year-end equity | 0.12 sector median 0.76 | low |
| FCF consistency, 5yr operating cash flow − capital expenditure, per year | positive 5 of 5 | consistent |
| Margin stability pre-tax income ÷ revenue, swing across up to five years | pre-tax margin 39.4% sector median 16.2% | cyclical |
| Quarterly · as filed in 10-Q/10-K · $ millions | MAR 25 | JUN 25 | SEP 25 | MAR 26 | JUN 26 |
|---|---|---|---|---|---|
| Total revenues | 90,234 | 96,428 | 102,346 | 109,896 | 119,796 |
| Cost of revenue | 36,361 | 39,039 | 41,369 | 41,271 | 45,943 |
| Research and development | 13,556 | 13,808 | 15,151 | 17,032 | 18,219 |
| Selling, general and administrative | 3,539 | 5,209 | 7,393 | 4,291 | 6,461 |
| Total operating expenses | 59,628 | 65,157 | 71,118 | 70,200 | 79,026 |
| Operating income | 30,606 | 31,271 | 31,228 | 39,696 | 40,770 |
| Interest expense | 34 | 261 | 143 | 533 | 1,278 |
| Other income (expense), net | 11,183 | 2,662 | 12,759 | 37,716 | 97,983 |
| Income before income taxes | 41,789 | 33,933 | 43,987 | 77,412 | 138,753 |
| Income tax provision | 7,249 | 5,737 | 9,008 | 14,834 | 26,560 |
| Net income attributable to common | 34,540 | 28,196 | 34,979 | 62,578 | 112,107 |
| Diluted earnings per share | $2.81 | $2.31 | $2.87 | $5.11 | $9.11 |
| Weighted-average diluted shares | 12,291 | 12,198 | 12,203 | 12,238 | 12,309 |
| Net cash provided by operating activities | 36,150 | — | — | 45,790 | — |
| Largest QoQ moves · latest vs prior filed quarter | Prior | Latest | Δ $ | Δ % |
|---|---|---|---|---|
| Income before income taxes | 77,412 | 138,753 | +61,341 | +79.2% |
| Other income (expense), net | 37,716 | 97,983 | +60,267 | +159.8% |
| Net income attributable to common | 62,578 | 112,107 | +49,529 | +79.1% |
| Income tax provision | 14,834 | 26,560 | +11,726 | +79.0% |
| Total revenues | 109,896 | 119,796 | +9,900 | +9.0% |
| Net cash provided by operating activities | 36,150 | 45,790 | +9,640 | +26.7% |
| Total operating expenses | 70,200 | 79,026 | +8,826 | +12.6% |
| Cost of revenue | 41,271 | 45,943 | +4,672 | +11.3% |
| Ownership — insiders & floatForm 4 + 10-K cover · open-market trades only | Value | Reading |
|---|---|---|
| Public float | $1,900,000M | 10-K cover · as of 2025-06-30 |
| Insider Form 4s, 90d | 59 filings · 0 buys / 37 sells | net selling · −$15,593,273 |
| · Gv 2019 Gp, L.L.C. | SELL $3,832,848 | Form 4 filed 2026-07-29 · open market |
| · Gv 2019 Gp, L.L.C. | SELL $2,232,761 | Form 4 filed 2026-07-29 · open market |
| · Gv 2019 Gp, L.L.C. | SELL $1,229,772 | Form 4 filed 2026-07-17 · open market |
| · Gv 2019 Gp, L.L.C. | SELL $1,206,270 | Form 4 filed 2026-07-27 · open market |
| · Gv 2019 Gp, L.L.C. | SELL $953,467 | Form 4 filed 2026-07-23 · open market |
| Insider ownership % | — | needs the proxy statement — not read yet, never estimated |
| Institutional % | — | needs 13F aggregation — not read yet, never estimated |
Not investment advice. DHI Signal publishes impersonal, rules-based research; no recommendation to buy or sell any security is made or implied. Every statement figure is transcribed from Alphabet Inc. (Class A)'s Form 10-K for FY2025 (accession 0001652044-26-000018), pulled from EDGAR XBRL. Derived measures are computed only from lines shown on this page and the arithmetic is displayed so it can be checked. GOOGL is not in the tracked book. Market posture attaches only when the dashboard feed carries the name; this page computes none of it.