Alphabet Inc. Class A (GOOGL)财务
NASDAQ · Communication Services · Internet Content & Information · 员工198,933人 · CEO Sundar Pichai
- 股价
- $279.84 -1.40%
- 市值
- $3.41万亿
- 企业价值
- $3.5万亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-03 EPS预期 $3.17
营收(TTM)$4710亿+22.2% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)33.3%+1.1 百分点 对比去年同期营业利润 $1570亿
净利润(TTM)$2360亿+89.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$197亿-73.2% 对比去年同期资本支出 $1600亿
稀释EPS(TTM)$19.16+89.0% 对比去年同期最近4个季度之和
净现金$1230亿+90.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $3.41万亿 EV $3.5万亿
- 营收
- $4710亿 过去12个月
- 营收增速
- +24% FY2026年一致预期
- 净利润率
- 50.0% 净利润 / 营收,TTM
- P/E
- 14.3× 预期 14.2×(FY2026)
- P/S
- 7.2× 股价 / 营收,TTM
- EV / EBITDA
- 11.0× TTM
- 自由现金流
- $197亿 过去12个月
- 净利润
- $2360亿 过去12个月
- 营收预期
- $4990亿 FY2026年一致预期
- 盈利
- 2027-02-03 营收预期 $1420亿
- 股息
- $0.86 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收符合预期,EPS 低于预期29.8%营收$1280亿,预期$1280亿(-0.3%);EPS $2.12,预期$3.02(-29.8%)。
- 营收增长加速:同比24.7%Q3 '26营收$1280亿,此前四个季度的平均值为20.0%。
- 营业利润率33.3%(TTM),较去年同期+1.1 百分点营收增长22.2%,营业利润增长26.5%。
- 税前利润的45.4%来自营业外收益税前利润$2880亿,营业利润$1570亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的33.9%(去年为20.2%)最近4个季度投入$1600亿(同比+105.2%)。自由现金流$197亿,相当于净利润的8.4%。
- 股东回报$162亿 = 自由现金流的82.0%回购$55亿(去年为$558亿),股息$107亿,股权激励$304亿(TTM)。
- 稀释股数一年内增加1.4%Q3 '26稀释股数124亿,一年前为122亿。
- 净现金 $1230亿现金 + 短期投资 $2650亿,含租赁债务 $1420亿;一年前净现金 $648亿。
- Google Cloud:营收+102.6%,利润率36.2%(此前为23.7%)Q3 '26增长最快的披露分部:营收$307亿,营业利润$111亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $1280亿 | $1020亿 | +24.7% |
| 毛利率 | 59.7% | 59.6% | +0.1 百分点 |
| 营业利润 | $406亿 | $312亿 | +29.9% |
| 营业利润率 | 31.8% | 30.5% | +1.3 百分点 |
| 净利润 | $265亿 | $350亿 | -24.3% |
| 稀释EPS | $2.12 | $2.87 | -26.1% |
| 经营现金流 | $423亿 | $484亿 | -12.6% |
| 资本支出 | $514亿 | $240亿 | +114.4% |
| 自由现金流 | -$90.7亿 | $245亿 | -137.1% |
| R&D | $206亿 | $152亿 | +36.2% |
| 股权激励费用 | $86.3亿 | $63.7亿 | +35.5% |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $1280亿 | $1280亿 | -0.3% |
| EPS(一致预期口径) | $2.12 | $3.02 | -29.8% |
来自2026-10-28发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Google Search & other | $634亿 | +12.0% | 49.7% | $2500亿 | +16.1% | |
| Google Cloud | $307亿 | +102.6% | 24.1% | $932亿 | +75.8% | |
| Google subscriptions, platforms, and devices | $143亿 | +11.0% | 11.2% | $532亿 | +15.4% | |
| YouTube ads | $112亿 | +9.2% | 8.8% | $435亿 | +10.3% | |
| Google Network | $74.6亿 | +1.4% | 5.8% | $296亿 | -1.2% | |
| Other Bets | $3.72亿 | +8.1% | 0.3% | $15.4亿 | -2.0% | |
| Hedging gains (losses) | $1.94亿 | +193.7% | 0.2% | $5200万 | +233.3% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $677亿 | +38.8% | 53.1% | $2380亿 | +27.8% | |
| EMEA | $327亿 | +9.3% | 25.7% | $1300亿 | +15.4% | |
| Asia Pacific | $199亿 | +11.7% | 15.6% | $760亿 | +18.2% | |
| Americas Excluding United States | $71亿 | +17.1% | 5.6% | $273亿 | +20.1% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Google Services | $963亿 | +10.6% | $392亿 | +16.8% | 40.7% | 38.5% | $1590亿 |
| Google Cloud | $307亿 | +102.6% | $111亿 | +209.4% | 36.2% | 23.7% | $318亿 |
| All other segments | $3.72亿 | +8.1% | -$20.5亿 | -43.5% | -550.3% | -414.5% | -$95.6亿 |
| Corporate (unallocated) | – | – | -$76.6亿 | -71.4% | – | – | -$247亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $1800亿
- 资本支出
- -$1600亿
- 股票回购
- -$55亿
- 股息
- -$107亿
- 收购
- -$343亿
- 债务净发行
- $966亿
- 股权激励费用
- $304亿
- 自由现金流
- $197亿
- 股东回报 / FCF
- 82.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 14.3× | 24.2× | 19.3× – 28.8× |
| EV / EBITDA | 11.0× | 17.8× | 13.7× – 21.2× |
| EV / 营收 | 7.4× | 6.7× | 4.1× – 9.5× |
| 股价 / FCF | 172.7× | 31.6× | 19.3× – 51.9× |
| 股价 / 净资产 | 5.0× | 7.0× | 4.5× – 9.2× |
| FCF收益率 | 0.6% | 3.5% | 1.9% – 5.2% |
| 投入资本回报率 | 14.8% | 22.7% | 21.1% – 25.8% |
| 净资产收益率 | 42.6% | 28.5% | 23.4% – 31.8% |
分析师
一致目标价 $400.32 (+43.1%)
区间 $325.00 – $485.00 · 评级 Buy
强烈买入2
买入69
持有11
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $4990亿 | +24.0% | $19.76 | +82.8% | 14.2× | 36 |
| FY2027 | $6350亿 | +27.1% | $15.05 | -23.8% | 18.6× | 38 |
| FY2028 | $7760亿 | +22.2% | $18.17 | +20.7% | 15.4× | 36 |
| FY2029 | $8870亿 | +14.4% | $22.01 | +21.1% | 12.7× | 17 |
| FY2030 | $9860亿 | +11.0% | $24.86 | +13.0% | 11.3× | 17 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Alphabet Inc.在近期10-Q / 10-K文件中标记的全部327项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $220亿 | $105亿 | +108.4% | $122亿 | $79.9亿 | +52.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $728亿 | $571亿 | +27.4% | $629亿 | $523亿 | +20.1% |
| Accounts Receivable, Allowance for Credit Loss | $12亿 | $9.18亿 | +30.7% | $9.24亿 | $8.79亿 | +5.1% |
| Accrued Income Taxes, Current | $17亿 | $5.51亿 | +209.1% | $5.23亿 | $29.1亿 | -82.0% |
| Accrued Income Taxes, Noncurrent | $122亿 | $101亿 | +21.3% | $95.3亿 | $87.8亿 | +8.5% |
| Accrued Liabilities, Current | $743亿 | $594亿 | +25.0% | $556亿 | $512亿 | +8.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$43.3亿 | -$20.5亿 | -110.6% | -$19.2亿 | -$48亿 | +60.1% |
| Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | $27亿 | $25.6亿 | +5.4% | $102亿 | $75.4亿 | +34.9% |
| Amortization of Intangible Assets | $3.75亿 | $1.29亿 | +190.7% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $86.8亿 | $64.1亿 | +35.4% | $251亿 | $229亿 | +9.6% |
| Assets | $1万亿 | $5360亿 | +87.0% | $5950亿 | $4500亿 | +32.2% |
| Assets, Current | $3750亿 | $1740亿 | +115.4% | $2060亿 | $1640亿 | +25.9% |
| Capital Expenditures Incurred but Not yet Paid | $68.1亿 | $39.4亿 | +72.8% | $151亿 | $103亿 | +46.1% |
| Cash and Cash Equivalents, at Carrying Value | $563亿 | $231亿 | +144.0% | $307亿 | $235亿 | +30.9% |
| Cash, Cash Equivalents, and Short-term Investments | $2650亿 | $985亿 | +169.1% | $1270亿 | $957亿 | +32.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $563亿 | $231亿 | +144.0% | $307亿 | $235亿 | +30.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $4.23亿 | $20.5亿 | -79.4% | $72.4亿 | -$5.82亿 | +1,344.3% |
| Commercial Paper | $0 | $30亿 | -100.0% | $0 | $23亿 | -100.0% |
| Commissions Payable to Broker-Dealers and Clearing Organizations | $38.9亿 | $40亿 | -2.9% | $9.5亿 | $38.7亿 | -75.4% |
| Common Stock, Dividends, Per Share, Declared | $0.22 | $0.21 | +4.8% | $0.83 | $0.60 | +38.3% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 3000亿 | 3000亿 | 0.0% | 3000亿 | 3000亿 | 0.0% |
| Common Stock, Shares, Issued | 123亿 | 121亿 | +1.8% | 121亿 | 122亿 | -1.0% |
| Common Stock, Shares, Outstanding | 123亿 | 121亿 | +1.8% | 121亿 | 122亿 | -1.0% |
| Common Stocks, Including Additional Paid in Capital | $1470亿 | $917亿 | +60.4% | $931亿 | $848亿 | +9.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $244亿 | $351亿 | -30.3% | $1350亿 | $997亿 | +35.4% |
| Contract with Customer, Liability | $126亿 | $74亿 | +70.3% | $86亿 | $60亿 | +43.3% |
| Contract with Customer, Liability, Current | $94.3亿 | $55.4亿 | +70.1% | $65.8亿 | $50.4亿 | +30.6% |
| Contract with Customer, Liability, Revenue Recognized | $6亿 | $6亿 | 0.0% | $46亿 | $39亿 | +17.9% |
| Convertible Preferred Stock, Nonredeemable or Redeemable, Issuer Option, Value | $180亿 | $0 | – | $0 | $0 | – |
| Cost of Revenue | $514亿 | $414亿 | +24.3% | $1630亿 | $1460亿 | +11.1% |
| Costs and Expenses | $870亿 | $711亿 | +22.3% | $2740亿 | $2380亿 | +15.2% |
| Current Federal, State and Local, Tax Expense (Benefit) | – | – | – | $134亿 | $211亿 | -36.6% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $50.3亿 | $38.5亿 | +30.5% |
| Current Income Tax Expense (Benefit) | – | – | – | $184亿 | $250亿 | -26.2% |
| Debt and Equity Securities, Gain (Loss) | -$90.5亿 | $109亿 | -183.4% | $246亿 | $26.7亿 | +821.8% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $11.1亿 | -$2.9亿 | +482.8% | -$5.42亿 | -$1.18亿 | -359.3% |
| Debt Securities, Available-for-sale | $1180亿 | $694亿 | +70.6% | $898亿 | $674亿 | +33.3% |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease) | $8300万 | -$200万 | +4,250.0% | -$3000万 | $200万 | -1,600.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $29.8亿 | $72.4亿 | -58.8% | $66.4亿 | $132亿 | -49.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $1.96亿 | $2亿 | -2.0% | $1.65亿 | $5.35亿 | -69.2% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $1000亿 | $60.1亿 | +1,564.4% | $65.2亿 | $206亿 | -68.3% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $22.5亿 | $3500万 | +6,331.4% | $1300万 | $2.49亿 | -94.8% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $174亿 | $134亿 | +29.8% | $133亿 | $129亿 | +3.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $175亿 | $134亿 | +30.8% | $128亿 | $109亿 | +16.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $665亿 | $367亿 | +81.4% | $370亿 | $372亿 | -0.6% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $170亿 | $59.5亿 | +185.6% | $267亿 | $63.4亿 | +321.6% |
| Debt Securities, Available-for-sale, Gain (Loss) | -$3.83亿 | $1.22亿 | -413.9% | $5.4亿 | -$10.4亿 | +151.8% |
| Debt Securities, Available-for-sale, Realized Gain | $2400万 | $1.35亿 | -82.2% | $5.72亿 | $4.82亿 | +18.7% |
| Debt Securities, Available-for-sale, Realized Loss | $8100万 | $3000万 | +170.0% | $3.16亿 | $15.5亿 | -79.7% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $1030亿 | $132亿 | +677.7% | $132亿 | $338亿 | -61.1% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $24.5亿 | $2.35亿 | +941.3% | $1.78亿 | $7.84亿 | -77.3% |
| Debt Securities, Realized Gain (Loss) | -$3.83亿 | $1.22亿 | -413.9% | $5.4亿 | -$10.4亿 | +151.8% |
| Deferred Federal, State and Local, Tax Expense (Benefit) | – | – | – | $82.4亿 | -$53.5亿 | +254.1% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $700万 | $9400万 | -92.6% |
| Deferred Income Tax Assets, Net | $14.6亿 | $103亿 | -85.9% | $91.1亿 | $172亿 | -47.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $82.5亿 | -$52.6亿 | +257.0% |
| Deferred Income Tax Liabilities, Net | $278亿 | – | – | $4.85亿2023-12-31 | $5.14亿 | -5.6% |
| Deferred Income Taxes and Tax Credits | $55.4亿 | $87.3亿 | -36.5% | $83.5亿 | -$52.6亿 | +258.8% |
| Deferred Tax Assets, Gross | $480亿2025-12-31 | $449亿 | +7.1% | $480亿 | $449亿 | +7.1% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01