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Alphabet

ABEC.DE
73
Internet Content & Information · Communication Services
Exchange
Frankfurt Stock Exchange
Winston Score
73
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Exceptional
Cash Flow
Good
Stability
Exceptional
Valuation
Mixed
Dividends
Weak
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Winston Score History

The full picture

Alphabet is the parent company of Google, the world's most widely used search engine. It also owns YouTube, the largest online video platform, and provides cloud computing services through Google Cloud. Its main customers are everyday internet users, businesses that buy advertising, and companies that rent computing power.

Alphabet makes most of its money by selling digital ads — when businesses pay to show up in Google search results or on YouTube videos. It operates globally, with revenue coming from nearly every country, and generates over $350 billion in annual revenue. Its biggest competitive advantage is the sheer scale of its search data, which makes its ad targeting hard to replicate. The main risk the business faces is growing regulatory pressure from governments around the world, which could force changes to how Google operates its search and advertising businesses.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+24.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+296.6% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

9.7%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

€242.7B cash & investments at current burn rate

Growth context

Alphabet is growing revenue at 24% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
61.6%
Premium pricing power — 61.6% gross margin
Profit after running costs
Operating Margin
34.0%
Excellent — 34.0% operating margin
Return on the money invested
ROCE
20.0%
Strong — 20.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+20.0%
Fast-growing sales (+20.0% YoY)
Profit growth
EPS YoY
+106.8%
Earnings growing fast (+106.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
76%
Modest — 76% of profit becomes cash
Spare cash per sale
FCF Margin
11.9%
Modest free cash flow (11.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.15
Conservative — low debt load (0.15)
Covers its interest
Interest Cover
65.64x
Comfortably covers interest (65.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
17.1x
no trend
Fair value — P/E 17.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
-2.6
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
0.24%
no trend
Small dividend — 0.24% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+1.5%
no trend
Dividend flat

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