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 4,149,554 - -
Change - -40.42% 53.31% 32.36% 62.74% 9.74% - -
Enterprise Value (EV) 1 1,797,023 1,045,943 1,657,796 2,238,756 3,701,001 4,018,231 4,070,542 4,093,263
Change - -41.8% 58.5% 35.04% 65.32% 8.57% 1.3% 0.56%
P/E 25.8x 19.3x 24.1x 23.5x 29x 16.5x 22.8x 19.1x
PBR 7.62x 4.43x 6.27x 7.11x 9.11x 5.74x 4.52x 3.66x
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 8.32x 6.75x 5.64x
EV / Revenue 6.98x 3.7x 5.39x 6.4x 9.19x 8.06x 6.62x 5.56x
EV / EBITDA 16.9x 9.5x 14x 14.9x 21.1x 17.2x 13.6x 10.7x
EV / EBIT 22.8x 14x 19.7x 19.9x 28.7x 23.4x 18.8x 15.5x
EV / FCF 26.8x 17.4x 23.9x 30.8x 50.5x 479x -126x 298x
FCF Yield 3.73% 5.74% 4.19% 3.25% 1.98% 0.21% -0.8% 0.34%
Dividend per Share 2 - - - 0.6 0.83 0.8724 0.9153 0.9546
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 20.64 14.94 17.87
Distribution rate - - - 7.46% 7.68% 4.23% 6.13% 5.34%
Net sales 1 257,637 282,836 307,394 350,018 402,836 498,628 614,868 735,774
EBITDA 1 106,531 110,132 118,699 150,486 175,128 233,391 298,617 382,724
EBIT 1 78,714 74,842 84,293 112,390 129,039 171,676 216,976 263,588
Net income 1 76,033 59,972 73,795 100,118 132,170 254,161 186,520 223,566
Net Debt 1 -124,832 -99,061 -97,663 -84,774 -80,296 -131,323 -79,012 -56,291
Reference price 2 144.85 88.23 139.69 189.30 313.00 340.92 340.92 340.92
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.($)
16.52x8.06x17.22x0.26% 4,150B
16.35x1.41x7.45x-.--% 29.63B
17.47x1.79x6.93x2.13% 22.49B
15.24x1.74x7.92x1.3% 21.52B
10.08x0.16x1.09x3.66% 126M
Average 15.13x 2.63x 8.12x 1.47% 844.66B
Weighted average by Cap. 16.52x 7.95x 17.05x 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