Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Income Statement
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Analysis of Revenues
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Alphabet Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income
- The net income demonstrates a generally upward trend from 2020 through 2025, with notable peaks and fluctuations. After a steady increase until late 2021, a decline occurs through 2022, followed by a robust recovery and substantial growth, reaching the highest values in early 2025. This suggests periods of volatility but overall profitability growth.
- Depreciation of Property and Equipment
- Depreciation expenses fluctuate within a broad range, peaking around late 2022 and in mid-2025. The values illustrate periodic increases aligned with capital expenditure trends, but a significant dip in late 2022 suggests possible changes in asset base or accounting practices.
- Stock-Based Compensation Expense
- This expense shows a steady incremental increase over the period, indicating a growing reliance on equity-based incentives for employees. Minor fluctuations occur but the overall trajectory is upward.
- Deferred Income Taxes
- Deferred income taxes show considerable volatility with both positive and negative values throughout the periods, indicating fluctuations in temporary differences and tax planning activities. Negative spikes are particularly significant in the 2022-2024 timeframe.
- (Gain) Loss on Debt and Equity Securities, Net
- This line exhibits significant variability with pronounced gains and losses. Early periods show large negative values (losses), recovering somewhat in the middle periods with positive gains, and ending with mixed results, indicating active management and volatility in investment securities.
- Other (Varied Financial Items)
- The "Other" category shows no consistent pattern, characterized by irregular positive and negative values, reflecting miscellaneous and less predictable financial activities.
- Accounts Receivable, Net
- Accounts receivable figures fluctuate markedly, alternating between significant positive and negative values. This suggests variable collection efficiency or changes in credit policies over time, without a clear directional trend.
- Income Taxes, Net
- Income tax payments display substantial oscillations, with large positive payments interspersed with significant refunds or reductions, indicating variable tax obligations in different quarters.
- Other Assets
- Negative balances dominate other assets, with occasional slight recoveries. The trend indicates asset disposition or impairments affecting this category, especially post-2021.
- Accounts Payable
- Accounts payable reflects wide swings between positive and negative changes, suggesting fluctuating payment cycles and supplier relationship dynamics. There is no clear directional trend but notable volatility throughout the periods.
- Accrued Expenses and Other Liabilities
- This category shows pronounced volatility with large positive and negative movements, pointing to timing differences in expense recognition and liability management.
- Accrued Revenue Share
- Accrued revenue share exhibits inconsistent fluctuations between positive and negative values, indicating variability in revenue-sharing arrangements and settlement timings.
- Deferred Revenue
- Deferred revenue is relatively low and shows minor fluctuations without a sustained upward or downward trend, suggesting steady but limited deferred sales activities.
- Changes in Assets and Liabilities, Net of Effects of Acquisitions
- There is considerable volatility with alternating positive and negative values, reflecting dynamic working capital management throughout the periods, including significant decreases in some later quarters.
- Adjustments
- Adjustments mostly display positive values, with significant peaks in late 2022 and mid-2024, followed by sharp declines in certain quarters, indicating episodic adjustment activities possibly related to non-recurring events or accounting reclassifications.
- Net Cash Provided by Operating Activities
- Operating cash flow generally grows over the periods, with some declines in late 2023 and early 2024. It reaches its highest levels towards late 2024 and early 2025, highlighting strong cash generation capacity, despite interim fluctuations.
- Purchases of Property and Equipment
- Capital expenditures rise over time, particularly from 2022 onward, indicating increased investment in property and equipment, peaking significantly in 2025, which may be associated with expansion or modernization efforts.
- Purchases and Maturities of Marketable Securities
- Purchases of marketable securities show large and consistent outflows, albeit with some reductions in certain quarters. Maturities and sales generally track these purchases but occasionally exceed them, reflecting active management of the investment portfolio and liquidity needs.
- Purchases and Maturities of Non-Marketable Securities
- Non-marketable securities reflect relatively smaller but steady purchase levels with infrequent and minor maturities, suggesting strategic longer-term investments with limited turnover.
- Acquisitions and Purchases of Intangible Assets
- The acquisition activities show irregular and generally moderate cash outflows with isolated large expenditures, particularly in late 2022 and early 2024, signaling selective strategic acquisitions or intangible asset purchases.
- Other Investing Activities
- These activities vary significantly from positive to negative values without a clear trend, suggesting incidental investing cash flows related to diverse transactions.
- Net Cash Used in Investing Activities
- Investing cash flows consistently reflect net outflows, with spikes of increased investing activities in certain quarters, notably from 2022 onward, aligned with investment in property, equipment, and securities acquisitions.
- Net Payments Related to Stock-Based Award Activities
- Payments for stock-based awards increase moderately over time, indicating rising cash outflows linked to employee compensation, consistent with the increase in stock-based compensation expense.
- Repurchases of Stock
- Stock repurchases are consistently significant, with values rising through mid-2023 and stabilizing afterward, reflecting ongoing substantial returns to shareholders via buybacks.
- Dividend Payments
- Dividend payments are present from mid-2023 onwards, maintaining a relatively steady outflow, indicating the initiation and continuation of regular dividend distributions.
- Proceeds from Issuance and Repayments of Debt
- Debt issuance and repayments alternate throughout the periods, with periods of substantial net debt issuance, particularly in 2022 and early 2025. Repayments generally offset issuances, but variability suggests active debt management strategies in response to financing needs.
- Proceeds from Sale of Interest in Consolidated Entities
- Proceeds are sporadic and relatively minor compared to other cash flows, indicating occasional divestitures or restructuring activities with limited material impact.
- Net Cash Used in Financing Activities
- Financing activities generally result in net cash outflows, influenced by stock repurchases, debt repayments, and dividend payments. Occasional inflows occur due to debt issuances. The outflows peak in 2022-2023 and decline in early 2025, suggesting shifts in capital structure and shareholder return policies.
- Effect of Exchange Rate Changes on Cash and Cash Equivalents
- This effect varies between positive and negative impacts without a consistent direction, reflecting currency fluctuations' occasional influence on cash balances.
- Net Increase (Decrease) in Cash and Cash Equivalents
- Cash balances show alternating periods of increase and decrease. Significant reductions occur in early and late 2023, while growth periods occur intermittently, indicating balanced liquidity management amid investment and financing activities.