Alphabet Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	160,208	132,170	100,118	73,795	59,972	76,033
Depreciation & Amortization	23,187	21,136	15,311	11,946	13,475	10,273
Loss (Gain) From Sale of Investments	-51,464	-24,620	-2,671	823	5,519	-12,270
Stock-Based Compensation	26,188	24,953	22,785	22,460	19,362	15,376
Other Operating Activities	19,256	10,456	-1,838	-3,433	-4,598	3,763
Change in Accounts Receivable	-10,780	-8,779	-5,891	-7,833	-2,317	-9,095
Change in Accounts Payable	1,547	907	359	664	707	283
Change in Unearned Revenue	2,425	2,420	1,043	525	367	774
Change in Income Taxes	-2,322	-3,226	-2,418	523	584	-625
Change in Other Net Operating Assets	6,108	9,296	-1,499	2,276	-1,576	7,140
Operating Cash Flow	174,353	164,713	125,299	101,746	91,495	91,652
Operating Cash Flow Growth	31.49%	31.46%	23.15%	11.20%	-0.17%	40.73%
Capital Expenditures	-109,924	-91,447	-52,535	-32,251	-31,485	-24,640
Cash Acquisitions	-34,873	-1,592	-2,931	-495	-6,969	-2,618
Investment in Securities	-19,173	-24,882	12,597	6,734	16,567	-8,806
Other Investing Activities	-3,516	-2,370	-2,667	-1,051	1,589	541
Investing Cash Flow	-167,486	-120,291	-45,536	-27,063	-20,298	-35,523
Long-Term Debt Issued	-	64,564	13,589	10,790	52,872	20,199
Long-Term Debt Repaid	-	-32,427	-12,701	-11,550	-54,068	-21,435
Net Debt Issued (Repaid)	62,028	32,137	888	-760	-1,196	-1,236
Repurchase of Common Stock	-30,641	-45,709	-62,222	-61,504	-59,296	-50,274
Common Dividends Paid	-10,157	-10,049	-7,363	-	-	-
Other Financing Activities	-13,340	-13,767	-11,036	-9,829	-9,265	-9,852
Financing Cash Flow	7,890	-37,388	-79,733	-72,093	-69,757	-61,362
Foreign Exchange Rate Adjustments	42	208	-612	-421	-506	-287
Net Cash Flow	14,799	7,242	-582	2,169	934	-5,520
Free Cash Flow	64,429	73,266	72,764	69,495	60,010	67,012
Free Cash Flow Growth	-13.96%	0.69%	4.70%	15.81%	-10.45%	56.41%
Free Cash Flow Margin	15.25%	18.19%	20.79%	22.61%	21.22%	26.01%
Free Cash Flow Per Share	5.27	5.99	5.85	5.46	4.56	4.94
Cash Income Tax Paid	21,526	21,526	27,353	19,164	18,900	13,412
Levered Free Cash Flow	27,473	38,088	53,158	56,280	49,939	47,009
Unlevered Free Cash Flow	28,245	38,548	53,326	56,472	50,162	47,225
Change in Working Capital	-3,022	618	-8,406	-3,845	-2,235	-1,523

Updated Apr 29, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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