Alphabet - Public Comps and Valuation Multiples

Alphabet Overview

About Alphabet

Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google’s subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google’s cloud computing platform, or GCP, accounts for roughly 10% of Alphabet’s revenue with the firm’s investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.

Founded

1998

HQ

Employees

183.3K+

Website

abc.xyz

Sectors

Search Engines
AdTech Software
Streaming
Cloud Infrastructure
AI Conglomerates
Productivity Software
B2B SaaS
Horizontal SaaS
MarTech
DeepTech
Consumer SaaS

Financials

LTM Revenue $382B

LTM EBITDA $169B

EV

$2.98T

Valuation Multiples

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Alphabet Financials

As of August 2025, Alphabet reported last 12-month revenue of $382B and EBITDA of $169B.

In the same period, Alphabet generated $225B in LTM gross profit and $115B in net income.

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Alphabet P&L

In the most recent fiscal year, Alphabet reported revenue of $350B and EBITDA of $135B.

Alphabet expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$382B	XXX	$350B	XXX	XXX	XXX
Gross Profit	$225B	XXX	$204B	XXX	XXX	XXX
Gross Margin	59%	XXX	58%	XXX	XXX	XXX
EBITDA	$169B	XXX	$135B	XXX	XXX	XXX
EBITDA Margin	44%	XXX	39%	XXX	XXX	XXX
EBIT	$125B	XXX	$112B	XXX	XXX	XXX
EBIT Margin	33%	XXX	32%	XXX	XXX	XXX
Net Profit	$115B	XXX	$100B	XXX	XXX	XXX
Net Margin	30%	XXX	29%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Alphabet including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $382B. EBITDA for the last twelve months was $169B. In the most recent fiscal year, Alphabet achieved $350B in revenue and $135B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$382B	Analyst estimates available to subscribers	$350B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$225B	Analyst estimates available to subscribers	$204B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	59.0% gross margin	Analyst estimates available to subscribers	58.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$169B	Analyst estimates available to subscribers	$135B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	44.2% EBITDA margin	Analyst estimates available to subscribers	38.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$125B	Analyst estimates available to subscribers	$112B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	32.8% EBIT margin	Analyst estimates available to subscribers	32.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$115B	Analyst estimates available to subscribers	$100B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	30.0% net profit margin	Analyst estimates available to subscribers	28.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Alphabet

This financial data table provides comprehensive performance metrics for Alphabet, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Alphabet generated $382B in revenue over the last twelve months.
The company achieved $169B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $225B.
Net income over the last twelve months reached $115B.

Fiscal Year Performance

In the most recent fiscal year, Alphabet reported $350B in total revenue.
Fiscal year EBITDA was $135B.
The company maintained a gross profit margin of 58.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 38.7%.
Net profit margin reached 28.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Alphabet. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Alphabet Stock Performance

Alphabet has current market cap of $3.04T, and EV of $2.98T.

Market Cap Evolution

Alphabet Stock Data

As of September 17, 2025, Alphabet's stock price is $251.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$2.98T	$3.04T	XXX	XXX	XXX	XXX	$9.39

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Alphabet Valuation Multiples

Alphabet's trades at 8.5x EV/Revenue multiple, and 22.0x EV/EBITDA.

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Alphabet Financial Valuation Multiples

As of September 17, 2025, Alphabet has market cap of $3.04T and EV of $2.98T.

Equity research analysts estimate Alphabet's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Alphabet has a P/E ratio of 26.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.04T	XXX	$3.04T	XXX	XXX	XXX
EV (current)	$2.98T	XXX	$2.98T	XXX	XXX	XXX
EV/Revenue	7.8x	XXX	8.5x	XXX	XXX	XXX
EV/EBITDA	17.6x	XXX	22.0x	XXX	XXX	XXX
EV/EBIT	23.7x	XXX	26.5x	XXX	XXX	XXX
EV/Gross Profit	13.2x	XXX	n/a	XXX	XXX	XXX
P/E	26.5x	XXX	30.4x	XXX	XXX	XXX
EV/FCF	44.7x	XXX	40.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Alphabet Margins & Growth Rates

Alphabet's last 12 month revenue growth is 12%

Alphabet's revenue per employee in the last FY averaged $1.9M, while opex per employee averaged $0.5M for the same period.

Alphabet's rule of 40 is 44% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Alphabet's rule of X is 74% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Alphabet Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	12%	XXX	12%	XXX	XXX	XXX
EBITDA Margin	44%	XXX	39%	XXX	XXX	XXX
EBITDA Growth	16%	XXX	34%	XXX	XXX	XXX
Rule of 40	44%	XXX	51%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	74%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.9M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.5M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	8%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	14%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	26%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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