Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Alphabet Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The valuation ratios exhibit a pattern of moderate fluctuation from 2022 through 2024, followed by a sharp contraction in early 2025, a rapid expansion peaking between late 2025 and early 2026, and a significant correction in the second quarter of 2026.
- Price to Earnings (P/E)
- The P/E ratio demonstrated high volatility, oscillating between a period of relative stability around 20-24x and extreme peaks. A notable decline to 17.91 occurred in March 2025, which preceded a steep climb to a maximum of 30.33 by December 2025. This was followed by a sharp decline to 15.94 by June 2026, representing the lowest valuation point in the analyzed period.
- Price to Operating Profit (P/OP)
- The P/OP ratio followed a trajectory closely aligned with the P/E ratio but reached its zenith later. After a dip to 16.92 in March 2025, the ratio climbed aggressively to a peak of 33.50 in March 2026. A subsequent correction brought the ratio down to 26.37 by June 2026.
- Price to Sales (P/S)
- Valuation relative to revenue showed a strong growth trend over the long term. From a low of 4.35 in September 2022, the ratio expanded to a peak of 10.95 in March 2026. Although a temporary contraction to 5.53 was observed in March 2025, the ratio remained substantially higher in 2026 than in the 2022-2023 window before correcting to 8.73 in June 2026.
- Price to Book Value (P/BV)
- The P/BV ratio mirrored the movement of the P/S ratio, starting at 5.96 and reaching a peak of 9.67 in March 2026. Similar to other metrics, there was a pronounced dip to 5.76 in March 2025. The period ended with a sharp contraction to 6.08 in June 2026, returning the valuation to levels comparable to those seen in early 2022.
Across all four metrics, a synchronized surge in valuation is evident throughout 2025 and the first quarter of 2026, indicating a period of aggressive market pricing. This expansion was uniformly reversed in the second quarter of 2026, suggesting a broad-based correction across earnings, profit, sales, and book value multiples.
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Price to Earnings (P/E)
Alphabet Inc., historical P/E calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 12,230,000,000 | 12,116,000,000 | 12,097,000,000 | 12,067,000,000 | 12,094,000,000 | 12,135,000,000 | 12,190,000,000 | 12,241,000,000 | 12,310,000,000 | 12,358,000,000 | 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 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (in millions) | 112,193) | 62,578) | 34,455) | 34,979) | 28,196) | 34,540) | 26,536) | 26,301) | 23,619) | 23,662) | 20,687) | 19,689) | 18,368) | 15,051) | 13,624) | 13,910) | 16,002) | 16,436) | ||||||
| Earnings per share (EPS)2 | 19.97 | 13.22 | 10.93 | 10.30 | 9.56 | 9.15 | 8.21 | 7.70 | 7.12 | 6.67 | 5.94 | 5.33 | 4.83 | 4.61 | 4.68 | 5.18 | 5.52 | 5.66 | ||||||
| Share price1, 3 | 318.34 | 381.94 | 331.33 | 281.90 | 193.20 | 163.85 | 193.30 | 176.14 | 174.37 | 173.69 | 141.80 | 126.67 | 129.66 | 104.45 | 105.22 | 94.82 | 113.60 | 115.02 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | 15.94 | 28.88 | 30.33 | 27.38 | 20.22 | 17.91 | 23.54 | 22.87 | 24.49 | 26.05 | 23.89 | 23.76 | 26.82 | 22.64 | 22.47 | 18.32 | 20.58 | 20.32 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Comcast Corp. | 6.95 | 6.01 | 5.35 | 4.40 | 5.36 | 7.89 | 7.86 | 11.39 | 9.88 | 9.64 | 12.01 | 10.40 | 28.75 | 29.69 | 31.38 | 25.58 | 12.39 | 13.00 | ||||||
| Meta Platforms Inc. | 20.16 | 22.01 | 30.89 | 28.70 | 27.17 | 21.59 | 27.91 | 25.80 | 24.48 | 24.47 | 30.97 | 24.92 | 35.58 | 28.51 | 21.10 | 9.01 | 12.84 | 14.91 | ||||||
| Netflix Inc. | 21.03 | 30.65 | 33.11 | 45.35 | 50.14 | 44.68 | 47.72 | 41.97 | 38.31 | 37.14 | 45.64 | 38.78 | 44.61 | 34.72 | 36.18 | 23.66 | 19.54 | 19.36 | ||||||
| Trade Desk Inc. | — | 25.53 | 25.58 | 50.61 | 103.52 | 71.43 | 90.94 | 212.26 | 171.26 | 212.06 | 206.87 | 246.46 | 306.77 | 410.83 | 609.53 | — | 788.40 | 211.66 | ||||||
| Walt Disney Co. | 16.72 | 15.10 | 15.49 | 17.93 | 20.60 | 35.59 | 39.74 | 32.64 | 113.35 | 60.90 | 73.44 | 71.09 | 44.85 | 61.51 | 54.90 | 65.23 | 72.29 | 86.97 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
EPS
= (Net incomeQ2 2026
+ Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025)
÷ No. shares of common stock outstanding
= (112,193,000,000 + 62,578,000,000 + 34,455,000,000 + 34,979,000,000)
÷ 12,230,000,000 = 19.97
3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/E ratio = Share price ÷ EPS
= 318.34 ÷ 19.97 = 15.94
5 Click competitor name to see calculations.
The financial trajectory from March 2022 through June 2026 is characterized by a substantial expansion in earnings per share and significant volatility in market valuation, culminating in a sharp valuation correction in the final quarter of the observed period.
- Earnings per Share (EPS) Performance
- A consistent upward trend in earnings is observable following a period of stagnation and slight decline in 2022. After reaching a trough of 4.61 in March 2023, EPS demonstrated steady growth, accelerating significantly between December 2025 and June 2026, where it rose from 10.93 to 19.97. This growth indicates a strong improvement in underlying profitability.
- Share Price Volatility
- The share price exhibited cyclical movements, starting at 115.02 in March 2022 and dropping to a period low of 94.82 in September 2022. A sustained bullish trend followed, leading to a peak of 381.94 in March 2026. This peak was followed by a moderate decline to 318.34 by June 2026, reflecting a correction after a period of rapid appreciation.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio fluctuated between a minimum of 15.94 and a maximum of 30.33. For much of 2022 through 2024, the multiple remained relatively stable, generally oscillating between 18 and 26. A notable valuation expansion occurred during the latter half of 2025, peaking at 30.33 in December 2025, which suggests that the share price grew faster than earnings during this interval. However, by June 2026, the P/E ratio contracted sharply to 15.94, the lowest point in the series, indicating that the significant increase in EPS began to outpace the share price, leading to a more conservative valuation multiple.
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Price to Operating Profit (P/OP)
Alphabet Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 12,230,000,000 | 12,116,000,000 | 12,097,000,000 | 12,067,000,000 | 12,094,000,000 | 12,135,000,000 | 12,190,000,000 | 12,241,000,000 | 12,310,000,000 | 12,358,000,000 | 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 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Income from operations (in millions) | 40,770) | 39,696) | 35,934) | 31,228) | 31,271) | 30,606) | 30,972) | 28,521) | 27,425) | 25,472) | 23,697) | 21,343) | 21,838) | 17,415) | 18,160) | 17,135) | 19,453) | 20,094) | ||||||
| Operating profit per share2 | 12.07 | 11.40 | 10.67 | 10.28 | 10.04 | 9.68 | 9.22 | 8.59 | 7.96 | 7.47 | 6.78 | 6.29 | 5.91 | 5.68 | 5.84 | 6.07 | 6.32 | 6.25 | ||||||
| Share price1, 3 | 318.34 | 381.94 | 331.33 | 281.90 | 193.20 | 163.85 | 193.30 | 176.14 | 174.37 | 173.69 | 141.80 | 126.67 | 129.66 | 104.45 | 105.22 | 94.82 | 113.60 | 115.02 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | 26.37 | 33.50 | 31.06 | 27.42 | 19.25 | 16.92 | 20.97 | 20.51 | 21.92 | 23.24 | 20.92 | 20.13 | 21.93 | 18.38 | 18.01 | 15.62 | 17.97 | 18.39 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Comcast Corp. | 4.25 | 5.90 | 5.18 | 4.49 | 5.45 | 5.35 | 5.46 | 7.33 | 6.37 | 6.33 | 7.93 | 6.75 | 12.94 | 11.89 | 12.00 | 9.64 | 7.83 | 8.75 | ||||||
| Meta Platforms Inc. | 15.80 | 17.53 | 22.43 | 20.51 | 24.69 | 19.68 | 25.09 | 22.96 | 21.42 | 20.99 | 25.90 | 20.16 | 27.97 | 22.11 | 16.91 | 7.39 | 10.83 | 12.68 | ||||||
| Netflix Inc. | 20.00 | 29.42 | 27.28 | 37.42 | 41.76 | 37.21 | 39.91 | 33.87 | 31.43 | 30.36 | 35.50 | 29.21 | 33.68 | 27.12 | 28.85 | 20.89 | 16.77 | 15.62 | ||||||
| Trade Desk Inc. | — | 18.36 | 19.24 | 42.06 | 90.92 | 64.99 | 83.69 | 173.83 | 142.04 | 169.07 | 184.64 | 241.10 | 269.27 | 295.72 | 286.30 | — | 669.01 | 212.81 | ||||||
| Walt Disney Co. | 14.32 | 14.29 | 14.76 | 17.26 | 15.44 | 21.45 | 23.75 | 19.06 | 39.89 | 29.75 | 33.90 | 34.95 | 26.48 | 32.61 | 26.43 | 31.54 | 35.31 | 53.03 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Operating profit per share
= (Income from operationsQ2 2026
+ Income from operationsQ1 2026
+ Income from operationsQ4 2025
+ Income from operationsQ3 2025)
÷ No. shares of common stock outstanding
= (40,770,000,000 + 39,696,000,000 + 35,934,000,000 + 31,228,000,000)
÷ 12,230,000,000 = 12.07
3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 318.34 ÷ 12.07 = 26.37
5 Click competitor name to see calculations.
Analysis of the financial data reveals a period of substantial expansion in both absolute operating performance and market valuation. While operating profit per share exhibited a consistent upward trajectory, the share price experienced higher volatility, leading to significant fluctuations in the Price to Operating Profit (P/OP) ratio.
- Operating Profit Trends
- Operating profit per share demonstrates a strong and steady growth pattern. From a baseline of 6.25 US$ in March 2022, the figure increased to 12.07 US$ by June 2026. This represents a nearly twofold increase in operational performance over the analyzed period, with the most consistent growth acceleration occurring from March 2024 onward.
- Share Price Movement
- The share price displayed significant variance, characterized by an initial contraction in late 2022 followed by a prolonged ascent. A peak was reached in March 2026 at 381.94 US$, before retreating to 318.34 US$ by June 2026. This volatility suggests that market sentiment fluctuated more aggressively than the underlying operational results.
- Price to Operating Profit (P/OP) Dynamics
- The P/OP ratio evolved through three distinct phases. Between March 2022 and December 2022, the ratio remained relatively stable, ranging between 15.62 and 18.39. A second phase of moderate expansion occurred throughout 2023 and early 2024, with the ratio generally fluctuating between 20 and 23. The final phase was marked by a sharp valuation expansion, peaking at 33.50 in December 2025, indicating a significant increase in the premium assigned to each unit of operating profit. The subsequent decline to 26.37 by June 2026 reflects a market correction where the share price decreased despite the continued growth of operating profits.
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Price to Sales (P/S)
Alphabet Inc., historical P/S calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 12,230,000,000 | 12,116,000,000 | 12,097,000,000 | 12,067,000,000 | 12,094,000,000 | 12,135,000,000 | 12,190,000,000 | 12,241,000,000 | 12,310,000,000 | 12,358,000,000 | 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 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Revenues (in millions) | 119,796) | 109,896) | 113,828) | 102,346) | 96,428) | 90,234) | 96,469) | 88,268) | 84,742) | 80,539) | 86,310) | 76,693) | 74,604) | 69,787) | 76,048) | 69,092) | 69,685) | 68,011) | ||||||
| Sales per share2 | 36.46 | 34.87 | 33.30 | 31.94 | 30.71 | 29.64 | 28.71 | 27.76 | 26.67 | 25.74 | 24.72 | 23.74 | 22.96 | 22.42 | 22.08 | 21.80 | 21.32 | 20.53 | ||||||
| Share price1, 3 | 318.34 | 381.94 | 331.33 | 281.90 | 193.20 | 163.85 | 193.30 | 176.14 | 174.37 | 173.69 | 141.80 | 126.67 | 129.66 | 104.45 | 105.22 | 94.82 | 113.60 | 115.02 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | 8.73 | 10.95 | 9.95 | 8.82 | 6.29 | 5.53 | 6.73 | 6.34 | 6.54 | 6.75 | 5.74 | 5.34 | 5.65 | 4.66 | 4.76 | 4.35 | 5.33 | 5.60 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Comcast Corp. | 0.62 | 0.90 | 0.87 | 0.81 | 0.99 | 1.00 | 1.03 | 1.36 | 1.23 | 1.22 | 1.52 | 1.30 | 1.55 | 1.40 | 1.39 | 1.14 | 1.43 | 1.55 | ||||||
| Meta Platforms Inc. | 6.02 | 7.23 | 9.29 | 8.87 | 10.87 | 8.45 | 10.58 | 9.17 | 8.41 | 7.84 | 8.98 | 5.84 | 6.65 | 5.21 | 4.20 | 2.20 | 3.62 | 4.65 | ||||||
| Netflix Inc. | 5.94 | 8.74 | 8.05 | 10.91 | 12.32 | 10.31 | 10.66 | 8.69 | 7.49 | 6.84 | 7.32 | 5.36 | 5.90 | 4.57 | 5.14 | 3.79 | 3.21 | 3.19 | ||||||
| Trade Desk Inc. | — | 3.72 | 3.91 | 7.95 | 16.12 | 11.46 | 14.62 | 28.32 | 19.95 | 20.77 | 19.02 | 20.57 | 22.90 | 19.30 | 20.62 | 13.17 | 19.16 | 16.47 | ||||||
| Walt Disney Co. | 1.93 | 1.93 | 2.03 | 2.19 | 1.95 | 2.16 | 2.16 | 1.73 | 2.15 | 2.04 | 1.94 | 1.82 | 2.12 | 2.42 | 2.09 | 2.53 | 2.50 | 3.67 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Sales per share
= (RevenuesQ2 2026
+ RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025)
÷ No. shares of common stock outstanding
= (119,796,000,000 + 109,896,000,000 + 113,828,000,000 + 102,346,000,000)
÷ 12,230,000,000 = 36.46
3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= 318.34 ÷ 36.46 = 8.73
5 Click competitor name to see calculations.
The valuation profile exhibits a significant expansion in the price-to-sales (P/S) multiple over the analyzed period, transitioning from a range of 4.35 to 5.74 during 2022 and 2023 to a peak of 10.95 by early 2026. This trajectory indicates a substantial increase in the market's valuation of each dollar of revenue generated, with the share price appreciation significantly outstripping the growth rate of sales.
- Sales per Share Performance
- A consistent and linear upward trend is observed in sales per share, rising from 20.53 US$ in March 2022 to 36.46 US$ by June 2026. This steady growth demonstrates a reliable and uninterrupted increase in top-line revenue efficiency on a per-share basis throughout the entire observation window.
- Share Price Trajectory
- The share price experienced moderate volatility between March 2022 and December 2023, fluctuating between a low of 94.82 US$ and a high of 141.80 US$. Starting in early 2024, a period of aggressive appreciation occurred, with the price climbing to a peak of 381.94 US$ in March 2026 before correcting to 318.34 US$ by June 2026.
- Price-to-Sales (P/S) Ratio Dynamics
- The P/S ratio remained relatively compressed between 4.35 and 5.74 during the 2022-2023 period. A shift toward a higher valuation floor occurred in 2024, with the ratio generally maintaining levels above 6.00. An extraordinary expansion is evident between June 2025 (6.29) and March 2026 (10.95), reflecting a period where market sentiment drove the share price upward at a rate far exceeding the organic growth of sales per share. The subsequent decline to 8.73 in June 2026 suggests a partial normalization of the valuation multiple.
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Price to Book Value (P/BV)
Alphabet Inc., historical P/BV calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 12,230,000,000 | 12,116,000,000 | 12,097,000,000 | 12,067,000,000 | 12,094,000,000 | 12,135,000,000 | 12,190,000,000 | 12,241,000,000 | 12,310,000,000 | 12,358,000,000 | 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 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Stockholders’ equity (in millions) | 640,480) | 478,746) | 415,265) | 386,867) | 362,916) | 345,267) | 325,084) | 314,119) | 300,753) | 292,844) | 283,379) | 273,202) | 267,141) | 260,894) | 256,144) | 253,626) | 255,419) | 254,004) | ||||||
| Book value per share (BVPS)2 | 52.37 | 39.51 | 34.33 | 32.06 | 30.01 | 28.45 | 26.67 | 25.66 | 24.43 | 23.70 | 22.79 | 21.83 | 21.19 | 20.55 | 20.00 | 19.60 | 19.58 | 19.29 | ||||||
| Share price1, 3 | 318.34 | 381.94 | 331.33 | 281.90 | 193.20 | 163.85 | 193.30 | 176.14 | 174.37 | 173.69 | 141.80 | 126.67 | 129.66 | 104.45 | 105.22 | 94.82 | 113.60 | 115.02 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | 6.08 | 9.67 | 9.65 | 8.79 | 6.44 | 5.76 | 7.25 | 6.86 | 7.14 | 7.33 | 6.22 | 5.80 | 6.12 | 5.08 | 5.26 | 4.84 | 5.80 | 5.96 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Comcast Corp. | 0.87 | 1.28 | 1.10 | 1.03 | 1.27 | 1.43 | 1.49 | 1.95 | 1.79 | 1.80 | 2.24 | 1.91 | 2.22 | 2.04 | 2.08 | 1.72 | 1.90 | 1.97 | ||||||
| Meta Platforms Inc. | 5.26 | 6.37 | 8.60 | 8.66 | 9.96 | 7.78 | 9.53 | 8.71 | 8.03 | 7.49 | 7.91 | 5.19 | 5.98 | 4.90 | 3.89 | 2.09 | 3.43 | 4.52 | ||||||
| Netflix Inc. | 9.52 | 13.17 | 13.66 | 18.23 | 20.59 | 17.24 | 16.80 | 14.37 | 12.29 | 11.19 | 11.99 | 7.94 | 8.30 | 6.68 | 7.82 | 5.81 | 5.22 | 5.53 | ||||||
| Trade Desk Inc. | — | 4.50 | 4.56 | 8.53 | 16.02 | 10.84 | 12.12 | 24.91 | 18.04 | 19.70 | 17.10 | 17.47 | 19.15 | 16.36 | 15.38 | 10.20 | 14.95 | 12.90 | ||||||
| Walt Disney Co. | 1.73 | 1.71 | 1.75 | 1.90 | 1.76 | 1.96 | 1.96 | 1.55 | 1.94 | 1.81 | 1.74 | 1.64 | 1.89 | 2.12 | 1.82 | 2.22 | 2.11 | 2.98 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 640,480,000,000 ÷ 12,230,000,000 = 52.37
3 Closing price as at the filing date of Alphabet Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= 318.34 ÷ 52.37 = 6.08
5 Click competitor name to see calculations.
The financial data indicates a general upward trajectory in the market valuation of the company relative to its book value between March 2022 and June 2026, characterized by periods of significant expansion followed by a sharp correction in the final quarter.
- Book Value Per Share (BVPS) Trends
- A consistent and uninterrupted increase in book value per share is observed, rising from 19.29 US$ in March 2022 to 52.37 US$ by June 2026. This steady growth reflects a continuous accumulation of net assets and a strengthening of the equity base over the analyzed period.
- Share Price Behavior
- The share price exhibits higher volatility than the book value. Following a dip to 94.82 US$ in September 2022, the price entered a prolonged growth phase, reaching a peak of 381.94 US$ in March 2026. This was followed by a decrease to 318.34 US$ by June 2026.
- Price to Book Value (P/BV) Ratio Analysis
- The P/BV ratio remained relatively stable between 4.84 and 6.22 during 2022 and 2023. A valuation expansion began in early 2024, with the ratio consistently exceeding 7.0. The premium reached its maximum in the first quarter of 2026 at 9.67, indicating a peak in market optimism relative to the company's accounting value. This was followed by a sharp contraction to 6.08 by June 2026, returning the ratio to levels comparable to those seen in 2023.
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