Company Valuation: Alphabet Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,921,855 1,145,004 1,755,459 2,323,530 3,781,297 4,121,672 - -
Change - -40.42% 53.31% 32.36% 62.74% 9% - -
Enterprise Value (EV) 1 1,797,023 1,045,943 1,657,796 2,238,756 3,701,001 3,998,668 4,042,660 4,065,381
Change - -41.8% 58.5% 35.04% 65.32% 8.04% 1.1% 0.56%
P/E 25.8x 19.3x 24.1x 23.5x 29x 16.4x 22.8x 19.2x
PBR 7.62x 4.43x 6.27x 7.11x 9.11x 5.7x 4.49x 3.63x
PEG - -1x 0.9x 0.6x 0.8x 0.2x -0.8x 1x
Capitalization / Revenue 7.46x 4.05x 5.71x 6.64x 9.39x 8.28x 6.73x 5.64x
EV / Revenue 6.98x 3.7x 5.39x 6.4x 9.19x 8.03x 6.6x 5.56x
EV / EBITDA 16.9x 9.5x 14x 14.9x 21.1x 17.3x 13.6x 10.6x
EV / EBIT 22.8x 14x 19.7x 19.9x 28.7x 23.3x 18.7x 15.5x
EV / FCF 26.8x 17.4x 23.9x 30.8x 50.5x 411x -154x 266x
FCF Yield 3.73% 5.74% 4.19% 3.25% 1.98% 0.24% -0.65% 0.38%
Dividend per Share 2 - - - 0.6 0.83 0.8724 0.9162 0.958
Rate of return - - - 0.32% 0.27% 0.26% 0.27% 0.28%
EPS 2 5.61 4.56 5.8 8.04 10.81 20.6 14.86 17.67
Distribution rate - - - 7.46% 7.68% 4.23% 6.16% 5.42%
Net sales 1 257,637 282,836 307,394 350,018 402,836 498,081 612,456 731,104
EBITDA 1 106,531 110,132 118,699 150,486 175,128 231,596 297,220 385,206
EBIT 1 78,714 74,842 84,293 112,390 129,039 171,637 216,566 261,624
Net income 1 76,033 59,972 73,795 100,118 132,170 251,874 185,953 221,997
Net Debt 1 -124,832 -99,061 -97,663 -84,774 -80,296 -123,005 -79,012 -56,291
Reference price 2 144.85 88.23 139.69 189.30 313.00 338.36 338.36 338.36
Nbr of stocks (in thousands) 13,275,280 12,943,000 12,516,000 12,241,000 12,067,000 12,230,000 - -
Announcement Date 2/1/22 2/2/23 1/30/24 2/4/25 2/4/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.42x8.03x17.27x0.26% 4,122B
17.45x1.5x7.95x-.--% 31.39B
16.65x1.95x8.85x1.18% 23.95B
18.03x1.82x7.12x2.09% 23.44B
10.24x0.16x1.12x3.61% 131M
Average 15.76x 2.69x 8.46x 1.43% 840.12B
Weighted average by Cap. 16.44x 7.91x 17.09x 0.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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