Market capitalisation
?
Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·GOOG
Preparing the analysis
We’re preparing the company’s analysis.
NASDAQ·GOOG
Alphabet Inc.
Share price$291.74Price as of: Nov 9, 2026
Alphabet Inc. (GOOG) is a company listed on NASDAQ, classified under Internet Content & Information.
Revenue · FY 2025
?
Sales generated during the period, before costs and expenses.
Net margin · FY 2025
?
Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,56 come from Google Search & other.
Google Search & other is its largest source of revenue (55.7%), followed by Google Cloud (14.6%). Here you will see what it sells, where, and how that mix is changing.
$403bnrevenue in FY 2025
7business lines with data
48%of sales, in UNITED STATES
Full fiscal year ended Dec 31, 2025
After that close
Q3 2026, ended Sep 30, 2026: total revenue +24.7% against the same quarter a year earlier.
This is the revenue of the whole company. The split by lines and regions on this page is still that of the full fiscal year.01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2025
02Where revenue comes from
A single line brings in half or more.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
No room for a label in the mosaic
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
Sales are spread across several regions.
UNITED STATES is its largest market, with 48.2% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2025
04How the mix is changing
Google Cloud is gaining weight.
Weight of each part in 2024 and in 2025. A line gains weight when it grows faster than the total.
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
The three minor lines (Google Network, Other Bets, and Hedging) reduced revenue, and only growth from Google Cloud, YouTube ads, and Subscriptions made up for it.
That every major line grew: Google Network declined and the recovery load was mainly on Search and Cloud.
02
Google Cloud drove 29.3% of the growth, even though it was only 14.6% of sales: in relative terms, it's the growth engine.
That it can match Search in size: despite faster growth and offsetting minor declines, its volume remains much lower.
Our take
Alphabet still relies heavily on Google Search & other, but Google Cloud and Asia Pacific already contribute a significant part of relative growth.
- 01Our interpretation
Google Cloud drives much of the growth
Google Cloud, while accounting for 14.6% of sales, delivers nearly a third of the increase, offsetting both Search's slowing contribution and drops in minor lines, but its overall volume remains far behind the main driver.
What is not proven
It's unknown whether any secondary line brings higher margins or profit: if so, the business's dependence on Search might be less than it appears.
See the calculations behind it
- Google Search & other brought $26.4B of the $52.8B by which revenue grew in FY 2025 (50.1%), although it weighed 56.6%. Without that line, the rest grew 17.4%.
- Google Network, Other Bets, and Hedging gains (losses) took away $1B in FY 2025; the other lines made up for it and revenue still rose $52.8B.
- Dependence on Google Search & other barely changes: 56.6% of revenue in FY 2024 and 55.7% in FY 2025.
- United States brings 48.2% of sales (48.7% in FY 2024). The fastest-growing region is Asia Pacific: +19.1% against +15.1% overall.
- Google Search & other accounts for 50.1% of the change in revenue in FY 2025 and weighed 56.6%.
- Google Search & other weighs more than all the other lines together: 55.7% of revenue in FY 2025.
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
Next step