Financials Alphabet Inc. NEO Exchange

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GOOG

CA02080K1049

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End-of-day quote NEO Exchange Other stock markets 06:00:00 2024-07-15 pm EDT			5-day change	1st Jan Change
31.1 ^CAD	-1.08%		-2.63%	+30.73%

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Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	922,946	1,185,281	1,921,855	1,145,004	1,755,459	2,281,757	-	-
Enterprise Value (EV) ¹	807,825	1,062,519	1,797,023	1,045,943	1,657,796	2,172,041	2,148,497	2,120,397
P/E ratio	27.2 x	29.9 x	25.8 x	19.3 x	24.1 x	24.3 x	21.3 x	18.5 x
Yield	-	-	-	-	-	0.33%	0.42%	0.45%
Capitalization / Revenue	5.7 x	6.49 x	7.46 x	4.05 x	5.71 x	6.58 x	5.91 x	5.35 x
EV / Revenue	4.99 x	5.82 x	6.98 x	3.7 x	5.39 x	6.26 x	5.57 x	4.97 x
EV / EBITDA	13.8 x	15.6 x	16.9 x	9.5 x	14 x	14.9 x	13 x	11.3 x
EV / FCF	26.1 x	24.8 x	26.8 x	17.4 x	23.9 x	27 x	23.4 x	19.4 x
FCF Yield	3.83%	4.03%	3.73%	5.74%	4.19%	3.7%	4.28%	5.14%
Price to Book	4.58 x	5.32 x	7.62 x	4.43 x	6.27 x	6.9 x	5.62 x	4.7 x
Nbr of stocks (in thousands)	13,793,749	13,528,525	13,275,280	12,943,000	12,516,000	12,357,994	-	-
Reference price ²	66.97	87.63	144.9	88.23	139.7	183.9	183.9	183.9
Announcement Date	2/3/20	2/2/21	2/1/22	2/2/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	161,857	182,527	257,637	282,836	307,394	346,887	385,759	426,410
EBITDA ¹	58,503	67,912	106,531	110,132	118,699	145,453	164,782	186,863
EBIT ¹	34,231	41,224	78,714	74,842	84,293	107,091	122,867	139,090
Operating Margin	21.15%	22.59%	30.55%	26.46%	27.42%	30.87%	31.85%	32.62%
Earnings before Tax (EBT) ¹	39,625	48,082	90,734	71,328	85,717	112,718	126,716	143,346
Net income ¹	34,343	40,269	76,033	59,972	73,795	94,188	105,899	119,109
Net margin	21.22%	22.06%	29.51%	21.2%	24.01%	27.15%	27.45%	27.93%
EPS ²	2.458	2.930	5.610	4.560	5.800	7.578	8.636	9.933
Free Cash Flow ¹	30,972	42,843	67,012	60,010	69,495	80,398	91,920	109,023
FCF margin	19.14%	23.47%	26.01%	21.22%	22.61%	23.18%	23.83%	25.57%
FCF Conversion (EBITDA)	52.94%	63.09%	62.9%	54.49%	58.55%	55.27%	55.78%	58.34%
FCF Conversion (Net income)	90.18%	106.39%	88.14%	100.06%	94.17%	85.36%	86.8%	91.53%
Dividend per Share ²	-	-	-	-	-	0.6004	0.7717	0.8340
Announcement Date	2/3/20	2/2/21	2/1/22	2/2/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	75,325	68,011	69,685	69,092	76,048	69,787	74,604	76,693	86,310	80,539	84,121	85,868	95,918	89,387	93,768
EBITDA ¹	29,278	28,380	28,134	26,157	27,461	25,885	31,009	30,886	32,672	34,149	36,154	36,058	39,112	39,333	40,750
EBIT ¹	21,885	20,094	19,453	17,135	18,160	17,415	21,838	21,343	23,697	25,472	26,563	26,305	28,975	28,824	29,775
Operating Margin	29.05%	29.55%	27.92%	24.8%	23.88%	24.95%	29.27%	27.83%	27.46%	31.63%	31.58%	30.63%	30.21%	32.25%	31.75%
Earnings before Tax (EBT) ¹	24,402	18,934	19,014	16,233	17,147	18,205	21,903	21,197	24,412	28,315	27,536	27,237	29,947	29,770	30,997
Net income ¹	20,642	16,436	16,002	13,910	13,624	15,051	18,368	19,689	20,687	23,662	22,955	22,701	25,056	25,071	25,899
Net margin	27.4%	24.17%	22.96%	20.13%	17.92%	21.57%	24.62%	25.67%	23.97%	29.38%	27.29%	26.44%	26.12%	28.05%	27.62%
EPS ²	1.534	1.231	1.210	1.060	1.050	1.170	1.440	1.550	1.640	1.890	1.840	1.832	2.024	2.056	2.159
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	0.2000	0.2000	0.2000	0.2000	0.2000
Announcement Date	2/1/22	4/26/22	7/26/22	10/25/22	2/2/23	4/25/23	7/25/23	10/24/23	1/30/24	4/25/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	115,121	122,762	124,832	99,061	97,663	109,716	133,260	161,360
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	30,972	42,843	67,012	60,010	69,495	80,398	91,920	109,023
ROE (net income / shareholders' equity)	19.3%	19%	32.1%	23.6%	29.7%	28.7%	26.9%	24.4%
ROA (Net income/ Total Assets)	14.4%	13.5%	22.4%	16.6%	19.2%	21.6%	20.9%	19.5%
Assets ¹	238,709	297,762	339,442	362,266	383,828	436,502	507,645	611,445
Book Value Per Share ²	14.60	16.50	19.00	19.90	22.30	26.60	32.70	39.10
Cash Flow per Share ²	3.900	4.740	6.760	7.120	8.000	10.20	11.90	13.20
Capex ¹	23,548	22,281	24,640	31,485	32,251	48,997	51,086	53,488
Capex / Sales	14.55%	12.21%	9.56%	11.13%	10.49%	14.12%	13.24%	12.54%
Announcement Date	2/3/20	2/2/21	2/1/22	2/2/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Alphabet Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

183.9 USD

Average target price

198.6 USD

Spread / Average Target

+7.98%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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