Stock Analysis on Net

Alphabet Inc. (NASDAQ:GOOG)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Alphabet Inc., historical price multiples (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 23.89 23.76 26.82 22.64 22.47 18.32 20.58 20.32 25.74 27.53 28.90 31.05 34.65 30.70 31.99 26.52 28.96
Price to operating profit (P/OP) 20.92 20.13 21.93 18.38 18.01 15.62 17.97 18.39 24.86 26.82 29.02 32.10 33.85 31.47 30.75 25.72 29.05
Price to sales (P/S) 5.74 5.34 5.65 4.66 4.76 4.35 5.33 5.60 7.60 8.13 8.26 8.11 7.65 6.39 6.08 5.49 6.14
Price to book value (P/BV) 6.22 5.80 6.12 5.08 5.26 4.84 5.80 5.96 7.78 7.95 7.66 6.93 6.27 5.15 4.87 4.50 4.94 4.47 4.51 4.50

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Alphabet Inc. P/E ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Alphabet Inc. P/OP ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Alphabet Inc. P/S ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Alphabet Inc. P/BV ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.

Price to Earnings (P/E)

Alphabet Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 12,433,000,000 12,516,000,000 12,609,000,000 12,697,000,000 12,807,000,000 12,943,000,000 13,044,000,000 13,169,997,540 13,219,426,420 13,275,279,880 13,335,098,080 13,403,275,860 13,482,733,300 13,528,525,440 13,603,272,700 13,652,404,260 13,745,721,800 13,793,748,980 13,867,967,000 13,884,876,300
Selected Financial Data (US$)
Net income (in millions) 20,687 19,689 18,368 15,051 13,624 13,910 16,002 16,436 20,642 18,936 18,525 17,930 15,227 11,247 6,959 6,836 10,671 7,068 9,947 6,657
Earnings per share (EPS)2 5.94 5.33 4.83 4.61 4.68 5.18 5.52 5.66 5.75 5.32 4.72 3.83 2.99 2.64 2.32 2.53 2.50 0.00 0.00 0.00
Share price1, 3 141.80 126.67 129.66 104.45 105.22 94.82 113.60 115.02 148.04 146.43 136.38 119.00 103.50 81.05 74.15 67.07 72.35 63.13 62.52 59.42
Valuation Ratio
P/E ratio4 23.89 23.76 26.82 22.64 22.47 18.32 20.58 20.32 25.74 27.53 28.90 31.05 34.65 30.70 31.99 26.52 28.96
Benchmarks
P/E Ratio, Competitors5
Comcast Corp. 12.01 10.40 28.75 29.69 31.38 25.58 12.39 13.00 16.01 16.37 21.39 22.12 22.37 19.10 17.33 14.74 15.39
Meta Platforms Inc. 30.97 24.92 35.58 28.51 21.10 9.01 12.84 14.91 16.44 21.80 25.93 27.69 25.89 29.65 30.73 27.83 32.31
Netflix Inc. 45.65 38.78 44.61 34.72 36.17 23.66 19.54 19.36 33.56 57.28 51.57 60.01 86.39 76.39 82.63 85.48 80.66
Walt Disney Co. 73.44 71.09 44.85 61.51 54.90 65.23 72.29 86.97 137.89 289.34 33.92 25.19 23.96 20.74 18.03 15.32

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
EPS = (Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023 + Net incomeQ1 2023) ÷ No. shares of common stock outstanding
= (20,687,000,000 + 19,689,000,000 + 18,368,000,000 + 15,051,000,000) ÷ 12,433,000,000 = 5.94

3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 141.80 ÷ 5.94 = 23.89

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Alphabet Inc. P/E ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.

Price to Operating Profit (P/OP)

Alphabet Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 12,433,000,000 12,516,000,000 12,609,000,000 12,697,000,000 12,807,000,000 12,943,000,000 13,044,000,000 13,169,997,540 13,219,426,420 13,275,279,880 13,335,098,080 13,403,275,860 13,482,733,300 13,528,525,440 13,603,272,700 13,652,404,260 13,745,721,800 13,793,748,980 13,867,967,000 13,884,876,300
Selected Financial Data (US$)
Income from operations (in millions) 23,697 21,343 21,838 17,415 18,160 17,135 19,453 20,094 21,885 21,031 19,361 16,437 15,651 11,213 6,383 7,977 9,266 9,177 9,180 6,608
Operating profit per share2 6.78 6.29 5.91 5.68 5.84 6.07 6.32 6.25 5.95 5.46 4.70 3.71 3.06 2.58 2.41 2.61 2.49 0.00 0.00 0.00
Share price1, 3 141.80 126.67 129.66 104.45 105.22 94.82 113.60 115.02 148.04 146.43 136.38 119.00 103.50 81.05 74.15 67.07 72.35 63.13 62.52 59.42
Valuation Ratio
P/OP ratio4 20.92 20.13 21.93 18.38 18.01 15.62 17.97 18.39 24.86 26.82 29.02 32.10 33.85 31.47 30.75 25.72 29.05
Benchmarks
P/OP Ratio, Competitors5
Comcast Corp. 7.93 6.75 12.94 11.89 12.00 9.64 7.83 8.75 10.89 11.91 14.39 14.66 13.47 10.47 9.93 8.26 9.51
Meta Platforms Inc. 25.90 20.16 27.97 22.11 16.91 7.39 10.83 12.68 13.84 18.71 22.67 24.49 23.10 26.06 25.90 21.96 24.90
Netflix Inc. 35.50 29.21 33.68 27.12 28.85 20.88 16.77 15.62 27.71 44.39 37.28 40.38 52.02 52.42 59.01 61.48 57.82
Walt Disney Co. 33.90 34.95 26.48 32.61 26.43 31.54 35.31 53.03 91.54 197.21 242.78 21.67 26.30 24.82 21.70 18.48 11.63

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
Operating profit per share = (Income from operationsQ4 2023 + Income from operationsQ3 2023 + Income from operationsQ2 2023 + Income from operationsQ1 2023) ÷ No. shares of common stock outstanding
= (23,697,000,000 + 21,343,000,000 + 21,838,000,000 + 17,415,000,000) ÷ 12,433,000,000 = 6.78

3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 141.80 ÷ 6.78 = 20.92

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Alphabet Inc. P/OP ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.

Price to Sales (P/S)

Alphabet Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 12,433,000,000 12,516,000,000 12,609,000,000 12,697,000,000 12,807,000,000 12,943,000,000 13,044,000,000 13,169,997,540 13,219,426,420 13,275,279,880 13,335,098,080 13,403,275,860 13,482,733,300 13,528,525,440 13,603,272,700 13,652,404,260 13,745,721,800 13,793,748,980 13,867,967,000 13,884,876,300
Selected Financial Data (US$)
Revenues (in millions) 86,310 76,693 74,604 69,787 76,048 69,092 69,685 68,011 75,325 65,118 61,880 55,314 56,898 46,173 38,297 41,159 46,075 40,499 38,944 36,339
Sales per share2 24.72 23.74 22.96 22.42 22.08 21.80 21.32 20.53 19.49 18.02 16.52 14.67 13.54 12.69 12.21 12.21 11.78 0.00 0.00 0.00
Share price1, 3 141.80 126.67 129.66 104.45 105.22 94.82 113.60 115.02 148.04 146.43 136.38 119.00 103.50 81.05 74.15 67.07 72.35 63.13 62.52 59.42
Valuation Ratio
P/S ratio4 5.74 5.34 5.65 4.66 4.76 4.35 5.33 5.60 7.60 8.13 8.26 8.11 7.65 6.39 6.08 5.49 6.14
Benchmarks
P/S Ratio, Competitors5
Comcast Corp. 1.52 1.30 1.55 1.40 1.39 1.14 1.43 1.55 1.95 2.08 2.45 2.49 2.28 1.89 1.89 1.58 1.84
Meta Platforms Inc. 8.98 5.84 6.65 5.21 4.20 2.20 3.62 4.65 5.49 7.82 9.64 9.90 8.78 9.49 9.62 7.95 8.45
Netflix Inc. 7.32 5.36 5.90 4.57 5.14 3.79 3.21 3.19 5.78 10.10 8.21 8.55 9.54 9.00 9.79 8.91 7.47
Walt Disney Co. 1.94 1.82 2.12 2.42 2.09 2.53 2.50 3.67 4.08 5.12 5.55 5.70 4.13 3.04 2.33 3.48 3.81 3.95 4.07 2.83

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
Sales per share = (RevenuesQ4 2023 + RevenuesQ3 2023 + RevenuesQ2 2023 + RevenuesQ1 2023) ÷ No. shares of common stock outstanding
= (86,310,000,000 + 76,693,000,000 + 74,604,000,000 + 69,787,000,000) ÷ 12,433,000,000 = 24.72

3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 141.80 ÷ 24.72 = 5.74

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Alphabet Inc. P/S ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.

Price to Book Value (P/BV)

Alphabet Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 12,433,000,000 12,516,000,000 12,609,000,000 12,697,000,000 12,807,000,000 12,943,000,000 13,044,000,000 13,169,997,540 13,219,426,420 13,275,279,880 13,335,098,080 13,403,275,860 13,482,733,300 13,528,525,440 13,603,272,700 13,652,404,260 13,745,721,800 13,793,748,980 13,867,967,000 13,884,876,300
Selected Financial Data (US$)
Stockholders’ equity (in millions) 283,379 273,202 267,141 260,894 256,144 253,626 255,419 254,004 251,635 244,567 237,565 230,013 222,544 212,920 207,322 203,659 201,442 194,969 192,192 183,472
Book value per share (BVPS)2 22.79 21.83 21.19 20.55 20.00 19.60 19.58 19.29 19.04 18.42 17.82 17.16 16.51 15.74 15.24 14.92 14.65 14.13 13.86 13.21
Share price1, 3 141.80 126.67 129.66 104.45 105.22 94.82 113.60 115.02 148.04 146.43 136.38 119.00 103.50 81.05 74.15 67.07 72.35 63.13 62.52 59.42
Valuation Ratio
P/BV ratio4 6.22 5.80 6.12 5.08 5.26 4.84 5.80 5.96 7.78 7.95 7.66 6.93 6.27 5.15 4.87 4.50 4.94 4.47 4.51 4.50
Benchmarks
P/BV Ratio, Competitors5
Comcast Corp. 2.24 1.91 2.22 2.04 2.08 1.72 1.90 1.97 2.36 2.48 2.81 2.80 2.61 2.29 2.39 2.11 2.43 2.61 2.64 2.60
Meta Platforms Inc. 7.91 5.19 5.98 4.90 3.89 2.09 3.43 4.52 5.18 6.59 7.31 6.99 5.88 6.37 6.54 5.54 5.91 5.81 6.45 6.38
Netflix Inc. 11.99 7.94 8.30 6.68 7.82 5.81 5.22 5.53 10.83 18.89 16.34 17.51 21.56 20.75 23.74 22.69 19.86 17.58 22.60 27.62
Walt Disney Co. 1.74 1.64 1.89 2.12 1.82 2.22 2.11 2.98 3.11 3.76 3.79 4.12 3.23 2.47 2.02 2.91 2.98 2.82 2.70 3.34

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 283,379,000,000 ÷ 12,433,000,000 = 22.79

3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 141.80 ÷ 22.79 = 6.22

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Alphabet Inc. P/BV ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.