Alphabet Inc. (GOOG) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 36.15B | 52.4B | 48.41B | 27.75B | 36.15B | 39.11B | 30.7B | 26.64B | 28.85B | 18.91B | 30.66B | 28.67B | 23.51B | 23.61B | 23.35B | 19.42B | 25.11B | 24.93B | 25.54B | 21.89B |
| Operating CF Margin % | 32.89% | 46.01% | 47.3% | 28.77% | 40.06% | 40.54% | 34.78% | 31.44% | 35.82% | 21.92% | 39.97% | 38.42% | 33.69% | 31.05% | 33.8% | 27.87% | 36.91% | 33.1% | 39.22% | 35.37% |
| Operating CF Growth % | 0% | 33.98% | 57.71% | 4.16% | 25.31% | 106.78% | 0.14% | -7.07% | 22.71% | -19.9% | 31.27% | 47.6% | -6.36% | -5.29% | -8.56% | -11.27% | 30.16% | 9.95% | 50.2% | 56.44% |
| Net Income | 34.54B | 34.45B | 34.98B | 28.2B | 34.54B | 26.54B | 26.3B | 23.62B | 23.66B | 20.69B | 19.69B | 18.37B | 15.05B | 13.62B | 13.91B | 16B | 16.44B | 20.64B | 18.94B | 18.52B |
| Depreciation & Amortization | 4.49B | 6.04B | 5.61B | 5B | 4.49B | 4.21B | 3.98B | 3.71B | 3.41B | 1.56B | 3.8B | 3.4B | 2.63B | 4.2B | 4.05B | 3.9B | 3.78B | 3.44B | 3.3B | 2.94B |
| Stock-Based Compensation | 5.52B | 7.07B | 6.37B | 6B | 5.52B | 5.81B | 5.85B | 5.87B | 5.26B | 5.66B | 5.74B | 5.77B | 5.28B | 5.1B | 4.98B | 4.78B | 4.5B | 3.95B | 3.87B | 3.8B |
| Deferred Taxes | -1.15B | 1.22B | 8.73B | -444M | -1.15B | -1.45B | -1.07B | -3.16B | 419M | -1.67B | -1.82B | -2.42B | -1.85B | -1.92B | -1.92B | -2.15B | -2.09B | 1.62B | -1.29B | 379M |
| Other Non-Cash Items | -5.79B | -18.04B | -11.05B | -891M | -9.48B | 894M | -574M | 1.88B | -1.45B | 2.95B | 1.13B | 606M | 1.02B | 2.32B | 1.54B | 1.1B | 1.58B | -2.49B | -2.09B | -2.89B |
| Working Capital Changes | -1.45B | 21.65B | 3.78B | -10.11B | 2.24B | 3.12B | -3.79B | -5.27B | -2.46B | -10.27B | 2.12B | 2.94B | 1.37B | 289M | 796M | -4.22B | 897M | -2.23B | 2.81B | -871M |
| Change in Receivables | 1.64B | 4.53B | -2.38B | -2.84B | 1.64B | -4.57B | -1.43B | -3.06B | 3.17B | -6.52B | -2.82B | -2.95B | 4.45B | -4.62B | -97M | -1.97B | 4.36B | -5.82B | -2.41B | -3.66B |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.85B | 2.14B | 130M | 0 | 0 | 0 | 0 | 0 | 5.44B | 1.66B | 4B |
| Change in Payables | -880M | 639M | -444M | 553M | -880M | 401M | 521M | 1.56B | -2.12B | 427M | 223M | 1.12B | -1.1B | -28M | 1.91B | 1.2B | -2.37B | 1.16B | 238M | -130M |
| Cash from Investing | -16.19B | -51.78B | -27.78B | -24.54B | -16.19B | -16.18B | -18.01B | -2.78B | -8.56B | -6.17B | -7.15B | -10.8B | -2.95B | -6.23B | -833M | -4.19B | -9.05B | -11.02B | -10.05B | -9.07B |
| Capital Expenditures | -17.2B | -27.85B | -23.95B | -22.45B | -17.2B | -14.28B | -13.06B | -13.19B | -12.01B | -11.02B | -8.05B | -6.89B | -6.29B | -7.59B | -7.28B | -6.83B | -9.79B | -6.38B | -6.82B | -5.5B |
| CapEx % of Revenue | 15.65% | 24.45% | 23.4% | 23.28% | 19.06% | 14.8% | 14.8% | 15.56% | 14.91% | 12.77% | 10.5% | 9.23% | 9.01% | 9.99% | 10.53% | 9.8% | 14.39% | 8.47% | 10.47% | 8.88% |
| Acquisitions | -340M | -167M | -1.07B | -13M | -340M | -91M | -2.75B | -26M | -61M | -29M | -126M | -298M | -42M | -84M | -5.65B | -1.06B | -173M | -385M | -259M | -308M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -549M | -525M | -1.48B | -513M | 150M | -167M | -2.47B | -133M | 101M | -66M | -628M | -232M | -125M | 222M | 791M | 221M | 355M | 100M | 388M | 23M |
| Cash from Financing | -20.2B | 7.03B | -18.38B | -5.83B | -20.2B | -19.04B | -20.09B | -20.89B | -19.71B | -19.31B | -18.38B | -17.84B | -16.57B | -17.63B | -18.1B | -17.82B | -16.21B | -16.51B | -15.25B | -15.99B |
| Debt Issued (Net) | 11M | 20.23B | -1.07B | 12.97B | 11M | 1.15B | 370M | 470M | -1.1B | -437M | -166M | -132M | -25M | -168M | -674M | -356M | 2M | -115M | -42M | -1.04B |
| Equity Issued (Net) | -18.18B | -5.5B | -11.5B | -13.64B | -15.07B | -15.55B | -15.29B | -15.68B | -15.7B | -16.19B | -15.79B | -14.97B | -14.56B | -15.41B | -15.39B | -15.2B | -13.3B | -13.47B | -12.61B | -12.8B |
| Dividends Paid | -2.43B | -2.54B | -2.54B | -2.54B | -2.43B | -2.44B | -2.46B | -2.47B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -15.07B | -5.5B | -11.5B | -13.64B | -15.07B | -15.55B | -15.29B | -15.68B | -15.7B | -16.19B | -15.79B | -14.97B | -14.56B | -15.41B | -15.39B | -15.2B | -13.3B | -13.47B | -12.61B | -12.8B |
| Other Financing | 400M | -5.17B | -3.27B | -2.62B | -2.71B | -2.19B | -2.72B | -3.21B | -2.92B | -2.68B | -2.43B | -2.73B | -1.99B | -2.05B | -2.03B | -2.26B | -2.92B | -2.92B | -2.6B | -2.15B |
| Net Change in Cash | -202M | 7.62B | 2.05B | -2.23B | -202M | 3.51B | -7.27B | 2.73B | 445M | -6.65B | 4.77B | 5M | 4.04B | -105M | 4.05B | -2.95B | -59M | -2.77B | 89M | -2.99B |
| Free Cash Flow | 18.95B | 24.55B | 24.46B | 5.3B | 18.95B | 24.84B | 17.64B | 13.45B | 16.84B | 7.9B | 22.6B | 21.78B | 17.22B | 16.02B | 16.08B | 12.59B | 15.32B | 18.55B | 18.72B | 16.39B |
| FCF Margin % | 17.25% | 21.56% | 23.9% | 5.5% | 21% | 25.75% | 19.98% | 15.88% | 20.9% | 9.15% | 29.47% | 29.19% | 24.68% | 21.06% | 23.27% | 18.07% | 22.53% | 24.63% | 28.75% | 26.49% |
| FCF Growth % | 0% | -1.15% | 38.69% | -60.6% | 12.57% | 214.55% | -21.96% | -38.22% | -2.23% | -50.71% | 40.58% | 72.92% | 12.4% | -13.65% | -14.12% | -23.18% | 14.78% | 7.87% | 61.42% | 90.58% |
| FCF per Share | 1.55 | 2.01 | 2.00 | 0.43 | 1.54 | 2.01 | 1.42 | 1.08 | 1.34 | 0.63 | 1.78 | 1.71 | 1.34 | 1.24 | 1.23 | 0.95 | 1.15 | 1.38 | 1.38 | 1.21 |
| FCF Conversion (FCF/Net Income) | 0.58x | 1.52x | 1.38x | 0.98x | 1.05x | 1.47x | 1.17x | 1.13x | 1.22x | 0.91x | 1.56x | 1.56x | 1.56x | 1.73x | 1.68x | 1.21x | 1.53x | 1.21x | 1.35x | 1.18x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |