Alphabet Inc.

Name: Alphabet Inc. financial statements and ratios
Creator: Annalist

GOOGL, GOOG · Nasdaq · Technology, internet services · United States · US GAAP · Fiscal year ends December

Latest report: Q2 FY2026, the quarter ended 30 June 2026, released 23 July 2026. Snapshot FY2026Q2_e68531aa.

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Overview

Revenue, quarter

+24.2% year on year

Operating income, quarter

+30.4% year on year

Net income, quarter

+298% year on year

Diluted EPS, quarter

+294% year on year

Operating margin, last 4 quarters

+0.4pp year on year

Return on equity, last 4 quarters

+13.8pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 30 June 2026 was US$119.8 billion, 24.2% higher than in the same quarter a year earlier.
Strengthenedin Q2 FY2026 · stated since Q2 FY2024
Rule: Revenue against a year earlier · Sources 10-Q 2026-06
History of this finding, 9 records
1. Q2 FY2026 StrengthenedRevenue for the quarter ended 30 June 2026 was US$119.8 billion, 24.2% higher than in the same quarter a year earlier.Recorded from FY2026Q2_02bf7936 · data update
2. Q1 FY2026 StrengthenedRevenue for the quarter ended 31 March 2026 was US$109.9 billion, 21.8% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q4 FY2025 StrengthenedRevenue for the quarter ended 31 December 2025 was US$113.8 billion, 18.0% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q3 FY2025 StrengthenedRevenue for the quarter ended 30 September 2025 was US$102.3 billion, 15.9% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q2 FY2025 StrengthenedRevenue for the quarter ended 30 June 2025 was US$96.4 billion, 13.8% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q1 FY2025 ConfirmedRevenue for the quarter ended 31 March 2025 was US$90.2 billion, 12.0% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q4 FY2024 WeakenedRevenue for the quarter ended 31 December 2024 was US$96.5 billion, 11.8% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q3 FY2024 StrengthenedRevenue for the quarter ended 30 September 2024 was US$88.3 billion, 15.1% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q2 FY2024 NewRevenue for the quarter ended 30 June 2024 was US$84.7 billion, 13.6% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$112.2 billion, 297.9% higher than in the same quarter a year earlier.
Strengthenedin Q2 FY2026 · stated since Q2 FY2024
Rule: Net income against a year earlier · Sources 10-Q 2026-06
History of this finding, 9 records
1. Q2 FY2026 StrengthenedNet income attributable to the company was US$112.2 billion, 297.9% higher than in the same quarter a year earlier.Recorded from FY2026Q2_02bf7936 · data update
2. Q1 FY2026 StrengthenedNet income attributable to the company was US$62.6 billion, 81.2% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q4 FY2025 WeakenedNet income attributable to the company was US$34.5 billion, 29.8% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q3 FY2025 StrengthenedNet income attributable to the company was US$35.0 billion, 33.0% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q2 FY2025 WeakenedNet income attributable to the company was US$28.2 billion, 19.4% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q1 FY2025 StrengthenedNet income attributable to the company was US$34.5 billion, 46.0% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q4 FY2024 WeakenedNet income attributable to the company was US$26.5 billion, 28.3% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q3 FY2024 StrengthenedNet income attributable to the company was US$26.3 billion, 33.6% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q2 FY2024 NewNet income attributable to the company was US$23.6 billion, 28.6% higher than in the same quarter a year earlier.Reconstructed · initial
The operating margin over the last 4 quarters was 33.1%, 0.4 percentage points higher than a year earlier.
Confirmedin Q2 FY2026 · first stated
Rule: Operating margin against a year earlier · Sources 10-Q 2025-09, 10-K 2025-12, 10-Q 2026-03 and 1 more
History of this finding, 13 records
1. Q2 FY2026 ConfirmedThe operating margin over the last 4 quarters was 33.1%, 0.4 percentage points higher than a year earlier.Recorded from FY2026Q2_02bf7936 · wording
2. Q2 FY2026 NewThe operating margin over the last four quarters was 33.1%, 0.4 percentage points higher than a year earlier.Recorded from FY2026Q2_02bf7936 · data update
3. Q2 FY2026 RetiredThe finding changed to higher than a year earlier.Recorded from FY2026Q2_02bf7936 · data update
4. Q1 FY2026 NewThe operating margin over the last four quarters was 32.7%, unchanged from a year earlier.Reconstructed · data update
5. Q1 FY2026 RetiredThe finding changed to unchanged from a year earlier.Reconstructed · data update
6. Q4 FY2025 NewThe operating margin over the last four quarters was 32.0%, 0.1 percentage points lower than a year earlier.Reconstructed · data update
7. Q4 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
8. Q3 FY2025 WeakenedThe operating margin over the last four quarters was 32.2%, 1.3 percentage points higher than a year earlier.Reconstructed · data update
9. Q2 FY2025 WeakenedThe operating margin over the last four quarters was 32.7%, 2.8 percentage points higher than a year earlier.Reconstructed · data update
10. Q1 FY2025 WeakenedThe operating margin over the last four quarters was 32.7%, 3.6 percentage points higher than a year earlier.Reconstructed · data update
11. Q4 FY2024 StrengthenedThe operating margin over the last four quarters was 32.1%, 4.7 percentage points higher than a year earlier.Reconstructed · data update
12. Q3 FY2024 StrengthenedThe operating margin over the last four quarters was 30.9%, 4.4 percentage points higher than a year earlier.Reconstructed · data update
13. Q2 FY2024 NewThe operating margin over the last four quarters was 29.8%, 4.1 percentage points higher than a year earlier.Reconstructed · initial
Return on equity over the last 4 quarters was 48.7%, against 34.8% a year earlier.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Return on equity against a year earlier · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 3 more
History of this finding, 10 records
1. Q2 FY2026 ConfirmedReturn on equity over the last 4 quarters was 48.7%, against 34.8% a year earlier.Recorded from FY2026Q2_02bf7936 · wording
2. Q2 FY2026 StrengthenedReturn on equity over the last four quarters was 48.7%, against 34.8% a year earlier.Recorded from FY2026Q2_02bf7936 · data update
3. Q1 FY2026 StrengthenedReturn on equity over the last four quarters was 38.9%, against 34.8% a year earlier.Reconstructed · data update
4. Q4 FY2025 WeakenedReturn on equity over the last four quarters was 35.7%, against 32.9% a year earlier.Reconstructed · data update
5. Q3 FY2025 WeakenedReturn on equity over the last four quarters was 35.5%, against 32.1% a year earlier.Reconstructed · data update
6. Q2 FY2025 WeakenedReturn on equity over the last four quarters was 34.8%, against 30.9% a year earlier.Reconstructed · data update
7. Q1 FY2025 WeakenedReturn on equity over the last four quarters was 34.8%, against 29.8% a year earlier.Reconstructed · data update
8. Q4 FY2024 WeakenedReturn on equity over the last four quarters was 32.9%, against 27.4% a year earlier.Reconstructed · data update
9. Q3 FY2024 WeakenedReturn on equity over the last four quarters was 32.1%, against 25.3% a year earlier.Reconstructed · data update
10. Q2 FY2024 NewReturn on equity over the last four quarters was 30.9%, against 23.3% a year earlier.Reconstructed · initial
Free cash flow over the last 4 quarters was US$53.3 billion, and operating cash flow was 0.8 times net income attributable to the company.
Interpretation. Operating cash flow paid for all capital expenditure, and the rest is free for dividends, share buybacks or debt repayment.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Free cash flow · Sources 10-Q 2025-06, 10-Q 2025-09, 10-K 2025-12 and 2 more
History of this finding, 10 records
1. Q2 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$53.3 billion, and operating cash flow was 0.8 times net income attributable to the company.Recorded from FY2026Q2_02bf7936 · wording
2. Q2 FY2026 WeakenedFree cash flow over the last four quarters was US$53.3 billion, and operating cash flow was 0.8 times net income attributable to the company.Recorded from FY2026Q2_02bf7936 · data update
3. Q1 FY2026 WeakenedFree cash flow over the last four quarters was US$64.4 billion, and operating cash flow was 1.1 times net income attributable to the company.Reconstructed · data update
4. Q4 FY2025 ConfirmedFree cash flow over the last four quarters was US$73.3 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · data update
5. Q3 FY2025 StrengthenedFree cash flow over the last four quarters was US$73.6 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · data update
6. Q2 FY2025 WeakenedFree cash flow over the last four quarters was US$66.7 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · data update
7. Q1 FY2025 ConfirmedFree cash flow over the last four quarters was US$74.9 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · data update
8. Q4 FY2024 StrengthenedFree cash flow over the last four quarters was US$72.8 billion, and operating cash flow was 1.3 times net income attributable to the company.Reconstructed · data update
9. Q3 FY2024 WeakenedFree cash flow over the last four quarters was US$55.8 billion, and operating cash flow was 1.1 times net income attributable to the company.Reconstructed · data update
10. Q2 FY2024 NewFree cash flow over the last four quarters was US$60.8 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · initial
Cash and short-term investments exceeded total debt by US$142.3 billion at 30 June 2026.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Net debt or net cash · Sources 10-Q 2026-06
History of this finding, 10 records
1. Q2 FY2026 ConfirmedCash and short-term investments exceeded total debt by US$142.3 billion at 30 June 2026.Recorded from FY2026Q2_02bf7936 · wording
2. Q2 FY2026 StrengthenedCash and short-term investments exceeded total debt by US$142.3 billion at 30 June 2026.Recorded from FY2026Q2_02bf7936 · data update
3. Q1 FY2026 WeakenedCash and short-term investments exceeded total debt by US$47.3 billion at 31 March 2026.Reconstructed · data update
4. Q4 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$78.3 billion at 31 December 2025.Reconstructed · data update
5. Q3 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$71.9 billion at 30 September 2025.Reconstructed · data update
6. Q2 FY2025 WeakenedCash and short-term investments exceeded total debt by US$67.5 billion at 30 June 2025.Reconstructed · data update
7. Q1 FY2025 ConfirmedCash and short-term investments exceeded total debt by US$80.9 billion at 31 March 2025.Reconstructed · data update
8. Q4 FY2024 ConfirmedCash and short-term investments exceeded total debt by US$81.5 billion at 31 December 2024.Reconstructed · data update
9. Q3 FY2024 WeakenedCash and short-term investments exceeded total debt by US$78.9 billion at 30 September 2024.Reconstructed · data update
10. Q2 FY2024 NewCash and short-term investments exceeded total debt by US$87.5 billion at 30 June 2024.Reconstructed · initial

Records before Q2 FY2026 are reconstructed from the latest snapshot. Ledger: findings.json. Correction of 20 October 2026: Annalist filled the long-term debt of Alphabet at 16 dates before 2025 with a line that includes finance leases, beside a line that leaves them out at the other dates; those dates now have no long-term debt. Share-based compensation of 13 quarters came from a note; it now comes from the cash flow statement. The earnings per share of the second quarter of 2021 now come from the filings of 2022, after the stock split of 20 for 1, 1.36 where 27.26 was published, while the first quarter keeps 26.29 from before it. Dividends per share of 2 fourth quarters derived from the figures of 2 filings are no longer published. Record 103 states the corrected credit finding. Records 6, 12, 66, 67, 70, 76, 79, 82, 85, 91, 94, 98 and 101 cite figures that the correction changed. Correction of 21 October 2026: The balance sheets of Alphabet at the ends of the first 3 quarters of 2024 give no long-term debt that Annalist captures, while its balance sheet at 31 December 2023 gives US$11.9 billion. Net debt, the credit metrics, return on invested capital and the accruals of those quarter ends, and the averages that use them, were understated and are no longer published. Records 6 and 12 cite figures that the correction removed; no current finding changed. Correction of 22 October 2026: Changes against a year earlier compared 2 figures of different bases where a stock split, a spin-off or a restatement came between the 2 periods. 5 growth values changed, among them diluted earnings per share growth for fiscal 2022, minus 95.9% before the correction and minus 18.7% on one basis. No finding states the changes concerned.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents26 documents, latest Form 10-Q, period ended 30 June 2026List

DownloadsExcel workbook · JSON

SnapshotFY2026Q2_e68531aa

Corporate Events

Stock split27 April 2022
The filing reported a stock split of 20 for 1.
Source 10-Q 2022-03

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Operating Income

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Net Debt

Total debt less cash and short-term investments, at quarter end, US dollars

Diluted Earnings per Share

By quarter, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

Q2 FY2026

Form 10-Q, period ended 30 June 2026, filed 23 July 2026. Changes are against the previous report, and each figure shows its period.

6changes1threshold crossed

Changes in This Report 6

StrengthenedRevenue Against a Year Earlier10-Q 2026-06
Revenue for the quarter ended 30 June 2026 was US$119.8 billion, 24.2% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Revenue for the quarter ended 31 March 2026 was US$109.9 billion, 21.8% higher than in the same quarter a year earlier.
StrengthenedNet Income Against a Year Earlier10-Q 2026-06
Net income attributable to the company was US$112.2 billion, 297.9% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Net income attributable to the company was US$62.6 billion, 81.2% higher than in the same quarter a year earlier.
NewOperating Margin Against a Year Earlier10-Q 2026-06
The operating margin over the last 4 quarters was 33.1%, 0.4 percentage points higher than a year earlier.
Earlier record, Q1 FY2026
The operating margin over the last four quarters was 32.7%, unchanged from a year earlier.
StrengthenedReturn on Equity Against a Year Earlier10-Q 2026-06
Return on equity over the last 4 quarters was 48.7%, against 34.8% a year earlier.
Earlier record, Q1 FY2026
Return on equity over the last four quarters was 38.9%, against 34.8% a year earlier.

2 more changes

WeakenedFree Cash Flow10-Q 2026-06
Free cash flow over the last 4 quarters was US$53.3 billion, and operating cash flow was 0.8 times net income attributable to the company.
Earlier record, Q1 FY2026
Free cash flow over the last four quarters was US$64.4 billion, and operating cash flow was 1.1 times net income attributable to the company.
StrengthenedNet Debt or Net Cash10-Q 2026-06
Cash and short-term investments exceeded total debt by US$142.3 billion at 30 June 2026.
Earlier record, Q1 FY2026
Cash and short-term investments exceeded total debt by US$47.3 billion at 31 March 2026.

Thresholds Crossed 1

ConfirmedCash Backing of Earnings
Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 8.2% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).

Data Limits 1

Debt Not Captured in Full
At 31 December 2022 the debt maturity schedule reports $15.3bn of principal, and the balance sheet items capture $0; the credit metrics leave out the difference.

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsDebt to EBITDA 0.58x, FFO to debt 124% · Q2 FY2026

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt was 0.6 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 124.1% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.
Interpretation. Debt to EBITDA shows how many years of EBITDA the debt equals, and FFO to debt the share of the debt that 1 year of cash flow after interest and taxes would repay. The S&P table sorts both into 6 bands; the minimal band is number 1 of 6, and a higher number means more debt against earnings.
Confirmedin Q2 FY2026 · stated since FY2023
Rule: Debt against the S&P benchmark bands · Sources 10-Q 2026-06, 10-Q 2025-06, 10-Q 2025-09 and 2 more
History of this finding, 11 records
1. Q2 FY2026 ConfirmedLease-adjusted debt was 0.6 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 124.1% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Recorded from FY2026Q2_703fd28f · correction
2. Q2 FY2026 ConfirmedLease-adjusted debt was 0.6 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 124.1% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Recorded from FY2026Q2_4fdb17a3 · methodology
3. Q2 FY2026 ConfirmedLease-adjusted debt was 0.6 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 124.1% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Recorded from FY2026Q2_4fdb17a3 · methodology
4. Q2 FY2026 ConfirmedLease-adjusted debt was 0.6 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 124.1% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Recorded from FY2026Q2_3636e64a · data update
5. Q1 FY2026 ConfirmedLease-adjusted debt was 0.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 161.9% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · data update
6. Q4 FY2025 ConfirmedLease-adjusted debt was 0.4 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 233.4% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · data update
7. Q3 FY2025 ConfirmedLease-adjusted debt was 0.2 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 338.9% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · data update
8. Q2 FY2025 ConfirmedLease-adjusted debt was 0.3 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 330.2% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · data update
9. Q1 FY2025 ConfirmedLease-adjusted debt was 0.2 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 474.5% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · data update
10. Q4 FY2024 ConfirmedLease-adjusted debt was 0.2 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 463.9% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · data update
11. FY2023 NewLease-adjusted debt was 0.2 times adjusted EBITDA for fiscal 2023, and funds from operations equalled 363.1% of that debt. Both ratios are within the minimal band of the S&P standard volatility table.Reconstructed · initial

Position in the S&P Standard Volatility Table, Last 4 Quarters to Q2 FY2026

S&P sorts companies into 6 bands by debt against earnings and cash flow, from the least debt to the most.

Debt equals 0.6 years of adjusted EBITDA; a year of funds from operations equals 124.1% of it.

Band	Minimal	Modest	Intermediate	Significant	Aggressive	Highly leveraged
Debt to EBITDA	0.58xbelow 1.5x	1.5x to 2x	2x to 3x	3x to 4x	4x to 5x	5x and above
FFO to debt	124%60% and above	45% to 60%	30% to 45%	20% to 30%	12% to 20%	below 12%

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Lease-adjusted debtBorrowings plus the obligations of long-term leases, such as rents of stores, offices and warehouses, which credit analysts count as debt.Total debt + operating lease liabilities
Adjusted EBITDAOperating profit before depreciation, amortisation, goodwill impairment, pay in shares and lease costs: the earnings that credit analysts set against lease-adjusted debt.EBIT + depreciation and amortisation + goodwill impairment + share-based compensation + operating lease cost
Funds from operationsAdjusted EBITDA less interest and tax paid in cash: the cash the business produces each year for investment, dividends and debt repayment.Adjusted EBITDA - cash interest - lease interest - cash taxes
Debt to EBITDALease-adjusted debt measured in years of adjusted EBITDA. A figure of 3 means debt equals 3 years of those earnings; a lower figure means less debt against earnings.Lease-adjusted debt / adjusted EBITDA	minimal	minimal	minimal	minimal	minimal	minimal
FFO to debtFunds from operations as a share of lease-adjusted debt. A figure of 25% means a year of those funds equals a quarter of the debt; a higher figure means less debt.Funds from operations / lease-adjusted debt	minimal	minimal	minimal	minimal	minimal	minimal
Net debt to adjusted EBITDADebt to EBITDA after cash and short-term investments are set against the debt.(Lease-adjusted debt - cash - short-term investments) / adjusted EBITDA
Operating cash flow to debtOperating cash flow, with lease costs added back, as a share of lease-adjusted debt. A higher share means the debt could be repaid sooner from operating cash.Lease-adjusted operating cash flow / lease-adjusted debt
Free operating cash flow to debtOperating cash flow less capital spending, as a share of lease-adjusted debt: the cash left for the debt after the company maintains and expands its assets.(Lease-adjusted operating cash flow - capital expenditure) / lease-adjusted debt
Discretionary cash flow to debtCash left after capital spending, dividends and share repurchases, as a share of lease-adjusted debt. A negative figure means the company paid out more than it generated.(Lease-adjusted operating cash flow - capital expenditure - dividends - repurchases of common stock) / lease-adjusted debt
FFO cash interest coverThe number of times cash earnings cover cash interest, lease interest included.(FFO + cash interest + lease interest) / (cash interest + lease interest)
EBITDA interest coverThe number of times adjusted EBITDA covers interest, lease interest included.Adjusted EBITDA / (interest expense + lease interest)
EBITA interest coverOperating profit before the amortisation of acquired intangible assets and goodwill impairment, divided by interest expense.(EBIT + amortisation of intangible assets + goodwill impairment) / interest expense
Liquid assets to debtCash and short-term investments as a share of lease-adjusted debt: the part of the debt that cash on hand could repay at once.(Cash + short-term investments) / lease-adjusted debt

Reconciliation of the Credit Figures

Item	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Total debt	$0	$0	$12.9bn	$14.2bn	$48.5bn	$100bn
Operating lease liabilities	$13.6bn	$15.0bn	$15.3bn	$14.6bn	$16.0bn	$18.0bn
Lease-adjusted debt	$13.6bn	$15.0bn	$28.1bn	$28.8bn	$64.5bn	$118bn
EBIT	$78.7bn	$74.8bn	$84.3bn	$112bn	$129bn	$148bn
Depreciation and amortisation	$10.3bn	$13.5bn	$11.9bn	$15.3bn	$21.1bn	$25.2bn
Goodwill impairment	$0	$0	$0	$0	$0	$0
Share-based compensation	$15.4bn	$19.4bn	$22.5bn	$22.8bn	$25.0bn	$28.1bn
Operating lease cost	$2.7bn	$2.9bn	$3.4bn	$3.3bn	$3.3bn	$3.6bn
Adjusted EBITDA	$107bn	$111bn	$122bn	$154bn	$178bn	$205bn
Cash interest	−$346m	−$357m	−$308m	−$268m	−$736m	−$2.3bn
Lease interest	−$304m	−$400m	−$469m	−$507m	−$550m	−$627m
Cash taxes	−$13.4bn	−$18.9bn	−$19.2bn	−$27.4bn	−$21.5bn	−$55.1bn
Funds from operations	$93.0bn	$90.9bn	$102bn	$126bn	$156bn	$147bn

Method

Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.

Liquidity and MaturitiesLiquidity cover 3.19x, Debt due within 12 months $2.0bn · Q2 FY2026

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends, with the debt maturities of the latest annual report.

Cash, short-term investments and operating cash flow over the last 4 quarters equalled 3.2 times the sum of debt due within 12 months, capital expenditure and dividends.
Interpretation. Cash on hand and 1 year of operating cash flow pay for the debt due in the next 12 months, capital expenditure and dividends, without new borrowing. Undrawn credit lines are not counted.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Liquidity cover · Sources 10-Q 2026-06, 10-Q 2025-06, 10-Q 2025-09 and 2 more
History of this finding, 11 records
1. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.2 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_4fdb17a3 · methodology
2. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.2 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_4fdb17a3 · methodology
3. Q2 FY2026 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.2 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_3636e64a · data update
4. Q1 FY2026 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 2.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
5. Q4 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 2.8 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
6. Q3 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 2.7 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
7. Q2 FY2025 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 2.8 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
8. Q1 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.2 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
9. Q4 FY2024 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
10. Q3 FY2024 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
11. Q2 FY2024 NewCash, short-term investments and operating cash flow over the last 4 quarters equalled 4.4 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · initial

Sources and Uses, Last 4 Quarters to Q2 FY2026

Sources	Amount
Cash and short-term investments	$242bn
Operating cash flow	$186bn
Sources	$428bn

Uses	Amount
Debt due within 12 months	$2.0bn
Capital expenditure	$132bn
Dividends paid	$0
Uses	$134bn

Liquidity cover 3.19x

Debt Maturities at 31 December 2025

Principal due by fiscal year, US dollars

FY2026	FY2027	FY2028	FY2029	FY2030	After FY2030	Total
$2.0bn	$1.0bn	$2.7bn	$1.8bn	$5.5bn	$36.1bn	$49.1bn

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Liquidity coverCash on hand plus a year of operating cash flow, against the cash needed in the next 12 months for maturing debt, capital spending and dividends. Above 1, these sources cover the uses without new borrowing.(Cash + short-term investments + operating cash flow) / (debt due within 12 months + capital expenditure + dividends); the flows of the fiscal year or of the last 4 quarters are taken as those of the next 12 months, and undrawn facilities are not included
Debt due within 12 monthsBorrowings due within the next 12 months, which the company must repay or refinance.The larger of long-term debt maturing within 12 months in the maturity schedule and the current portion of long-term debt, + short-term borrowings
Maturity concentrationThe largest amount of debt due in a single year of the next 5, as a share of the debt in the schedule. A high share means the repayments are concentrated in 1 year.Largest single year of debt maturing within 5 years / total debt in the maturity schedule						n/a

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityEarnings above cash flowCash-flow accruals 8.2%, Operating cash flow to EBITDA 1.07x · Q2 FY2026

Accruals and the cash backing of reported earnings.

Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 8.2% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).
Confirmedin Q2 FY2026 · first stated
Rule: Cash backing of earnings · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 2 more
History of this finding, 11 records
1. Q2 FY2026 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 8.2% of average total assets.Recorded from FY2026Q2_4fdb17a3 · methodology
2. Q2 FY2026 NewNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 8.2% of average total assets.Recorded from FY2026Q2_3636e64a · data update
3. Q2 FY2026 RetiredThe finding changed to earnings led by accruals.Recorded from FY2026Q2_3636e64a · data update
4. Q1 FY2026 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.4% of average total assets.Reconstructed · data update
5. Q4 FY2025 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 6.2% of average total assets.Reconstructed · data update
6. Q3 FY2025 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.6% of average total assets.Reconstructed · data update
7. Q2 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 4.0% of average total assets.Reconstructed · data update
8. Q1 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 4.9% of average total assets.Reconstructed · data update
9. Q4 FY2024 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.9% of average total assets.Reconstructed · data update
10. Q3 FY2024 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.6% of average total assets.Reconstructed · data update
11. Q2 FY2024 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 4.4% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Balance sheet accrualsThe same gap between profit and cash, measured from the changes in the balance sheet (Sloan, 1996).[(Change in current assets - change in cash) - (change in current liabilities - change in short-term debt - change in taxes payable) - depreciation and amortisation] / average total assets (Sloan, 1996)
Total accrualsAccruals that also cover long-term operating and financial assets and liabilities (Richardson, Sloan, Soliman and Tuna, 2005). Acquisitions raise the figure.Change in net operating working capital, net non-current operating assets and net financial assets / average total assets (Richardson, Sloan, Soliman and Tuna, 2005)
Operating cash flow to EBITDAOperating cash flow against EBITDA: the part of operating profit before depreciation that turns into cash after interest, tax and changes in stock, receivables and payables.Operating cash flow / (operating income + depreciation and amortisation)
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company
Working capital investment to revenueCash put into receivables and stock, less extra credit from suppliers and customers, as a share of revenue. A positive figure means growth or slower collection uses cash.(Increase in receivables + increase in inventories - increase in payables - increase in contract liabilities) / revenue

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresAltman Z'' 6.79, Beneish −2.64 · Piotroski 8 of 9 · Last 4 quarters 6.76 at Q2 FY2026 · FY2025

Published distress and misstatement models, with their original coefficients and thresholds.

The Altman Z'' score for fiscal 2025 was 6.79, above the safe threshold of 2.60.
Interpretation. By this model, the balance sheet and earnings look like those of companies that did not go bankrupt in its original study: above 2.60 means safe, below 1.10 distress.
Weakenedin FY2025 · stated since FY2023
Rule: Altman Z'' zone · Sources 10-Q 2026-06, 10-K 2025-12
History of this finding, 3 records
1. FY2025 WeakenedThe Altman Z'' score for fiscal 2025 was 6.79, above the safe threshold of 2.60.Reconstructed · data update
2. FY2024 ConfirmedThe Altman Z'' score for fiscal 2024 was 7.27, above the safe threshold of 2.60.Reconstructed · data update
3. FY2023 NewThe Altman Z'' score for fiscal 2023 was 7.08, above the safe threshold of 2.60.Reconstructed · initial
The Beneish M-score for fiscal 2025 was minus 2.64, below the model threshold of minus 1.78.
Interpretation. The model finds no sign of earnings manipulation. Beneish (1999) set a threshold of minus 1.78, above which a company resembles the companies that manipulated their earnings.
Confirmedin FY2025 · stated since FY2023
Rule: Beneish M-score against its threshold · Sources 10-K 2025-12, 10-Q 2026-06
History of this finding, 3 records
1. FY2025 ConfirmedThe Beneish M-score for fiscal 2025 was minus 2.64, below the model threshold of minus 1.78.Reconstructed · data update
2. FY2024 ConfirmedThe Beneish M-score for fiscal 2024 was minus 2.63, below the model threshold of minus 1.78.Reconstructed · data update
3. FY2023 NewThe Beneish M-score for fiscal 2023 was minus 2.62, below the model threshold of minus 1.78.Reconstructed · initial
The Piotroski F-score for fiscal 2025 was 8 of 9. The signal not met was long-term debt to assets lower than a year earlier.
Interpretation. The score counts how many of 9 tests of profit, debt, liquidity and efficiency the company passes. A score of 7 to 9 is the strongest group: Piotroski (2000) placed 0 to 3 in the weakest.
Confirmedin FY2025 · stated since FY2023
Rule: Piotroski F-score · Sources 10-K 2024-12, 10-K 2025-12, 10-Q 2026-06
History of this finding, 3 records
1. FY2025 ConfirmedThe Piotroski F-score for fiscal 2025 was 8 of 9. The signal not met was long-term debt to assets lower than a year earlier.Reconstructed · data update
2. FY2024 ConfirmedThe Piotroski F-score for fiscal 2024 was 8 of 9. The signal not met was current ratio higher than a year earlier.Reconstructed · data update
3. FY2023 NewThe Piotroski F-score for fiscal 2023 was 8 of 9. The signal not met was current ratio higher than a year earlier.Reconstructed · initial

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Altman Z'' scoreA measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.6.56 x working capital / total assets + 3.26 x retained earnings / total assets + 6.72 x EBIT / total assets + 1.05 x total equity / total liabilities (Altman, 1995); distress zone below 1.10, safe zone above 2.60	safe zone	safe zone	safe zone	safe zone	safe zone	safe zone
Beneish M-scoreA screen for earnings manipulation, built from 8 changes in the accounts, such as receivables growing faster than sales. Above minus 1.78 the model groups a company with the companies in the Beneish sample that manipulated their earnings.-4.84 + 0.920 DSRI + 0.528 GMI + 0.404 AQI + 0.892 SGI + 0.115 DEPI - 0.172 SGAI + 4.679 TATA - 0.327 LVGI (Beneish, 1999); model threshold -1.78	below threshold	below threshold	below threshold	below threshold	below threshold	n/a
Dechow F-scoreThe probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.Predicted probability of a misstatement (model 1 of Dechow, Ge, Larson and Sloan, 2011) / 0.0037, the unconditional probability; 1 equals the base rate	n/a					n/a
Piotroski F-scoreA count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.Number of 9 binary signals met on profitability, cash flow, debt, liquidity, equity issuance, margin and asset turnover (Piotroski, 2000)	n/a					n/a

Altman Z'' Score

fiscal 2025

A measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.

Distress zone, below 1.10

Grey zone, 1.10 to 2.60

6.79Safe zone, above 2.60

The score of 6.79 is in the safe zone of the model, above 2.60. The largest part is equity against liabilities, at 2.42.

Part	Value	Coefficient	Contribution
Working capital / total assetsCurrent assets less current liabilities, against total assets: the short-term funds available for operations.	0.174	6.560	1.138
Retained earnings / total assetsProfits kept in the business over its life, against total assets.	0.544	3.260	1.775
EBIT / total assetsOperating profit against total assets: the earning power of the assets.	0.217	6.720	1.457
Total equity / total liabilitiesBook equity against liabilities: how far the assets could fall in value before liabilities exceed them.	2.307	1.050	2.422
Score			6.792

Altman, Hartzell and Peck (1995), for non-manufacturing companies. The model omits the ratio of sales to total assets of the 1968 model and uses book equity. Working capital below zero and equity reduced by share repurchases lower the score.

Beneish M-score

fiscal 2025

A screen for earnings manipulation, built from 8 changes in the accounts, such as receivables growing faster than sales. Above minus 1.78 the model groups a company with the companies in the Beneish sample that manipulated their earnings.

−2.64Below the threshold, −1.78 and below

Above the threshold, above −1.78

The score of minus 2.64 is below the model threshold of minus 1.78. Of the 8 measures, sales growth raises the score most.

Part	Value	Coefficient	Contribution
Intercept			−4.840
Days sales in receivables indexReceivables against sales, against a year earlier. A rise can mean sales recorded before customers pay.	1.044	0.920	0.960
Gross margin indexGross margin a year earlier against the current gross margin. Above 1, margins fell, which the model treats as a risk factor.	0.976	0.528	0.515
Asset quality indexAssets other than current assets and property, plant and equipment, as a share of total assets, against a year earlier. A rise can mean more costs recorded as assets.	0.934	0.404	0.377
Sales growth indexSales against a year earlier. The model treats fast growth as a risk factor.	1.151	0.892	1.027
Depreciation indexThe rate of depreciation a year earlier against the current rate. Above 1, depreciation slowed, which raises profit.	1.041	0.115	0.120
Selling, general and administrative expenses indexOverheads against sales, against a year earlier.	1.000	−0.172	−0.172
Total accruals to total assetsNet income less operating cash flow, against total assets: profit not backed by cash. It carries the largest coefficient in the model.	−0.055	4.679	−0.256
Leverage indexDebt against total assets, against a year earlier.	1.129	−0.327	−0.369
Score			−2.638

Beneish (1999), estimated on 74 companies identified as earnings manipulators in SEC enforcement releases and the press for 1982 to 1992, against 2,332 Compustat companies. The model classes a score above minus 1.78 with the first group. An index whose inputs are not reported counts as 1.

Dechow F-score

fiscal 2025

The probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.

A score of 0.35 means a probability of a misstatement 0.35 times the average rate in the Dechow sample: 0.13% against 0.37%.

Part	Value	Coefficient	Contribution
Intercept			−7.893
Total accruals (Richardson, Sloan, Soliman and Tuna)Total accruals: the growth of operating and financial assets net of liabilities, against average assets.	0.159	0.790	0.125
Change in receivables / average total assetsThe growth of receivables against average assets.	0.020	2.518	0.051
Change in inventories / average total assetsThe growth of stock against average assets.	0.005	1.191	0.006
Assets other than cash and property, plant and equipment / total assetsAssets other than cash and property, plant and equipment, as a share of total assets: assets whose value depends more on judgement.	0.534	1.979	1.057
Change in cash salesThe growth of sales collected in cash.	0.135	0.171	0.023
Change in return on assetsThe change in return on assets against a year earlier. A fall raises the score.	0.018	−0.932	−0.017
Debt or equity issued in the year, 1 or 01 when the company issued shares or debt in the year.	0.000	1.029	0.000
Predicted value			−6.648
Probability of a misstatement			0.13%

Model 1 of Dechow, Ge, Larson and Sloan (2011), estimated on misstatements named in SEC Accounting and Auditing Enforcement Releases. The score is the predicted probability of a misstatement over 0.37%, the unconditional probability in their sample, so 1.00 equals that base rate.

Piotroski F-score

fiscal 2025

A count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.

8 of the 9 tests are met, in the high group of 7 to 9.

Signal	FY2025	FY2024
Return on assets above zero	Met	Met
Operating cash flow above zero	Met	Met
Return on assets higher than a year earlier	Met	Met
Operating cash flow above net income	Met	Met
Long-term debt to assets lower than a year earlier	Not met	Met
Current ratio higher than a year earlier	Met	Not met
No common equity issued	Met	Met
Margin higher than a year earlier	Met	Met
Asset turnover higher than a year earlier	Met	Met

Piotroski (2000), 9 signals on profitability, funding and operating efficiency, designed for companies with high book-to-market ratios. Piotroski grouped scores of 8 and 9 as high and 0 and 1 as low; the findings group 7 to 9 and 0 to 3.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 30 June 2026	23 Jul 2026	10-Q:0001652044-26-000071
Form 10-Q, period ended 31 March 2026	30 Apr 2026	10-Q:0001652044-26-000048
Form 10-K, period ended 31 December 2025	5 Feb 2026	10-K:0001652044-26-000018
Form 10-Q, period ended 30 September 2025	30 Oct 2025	10-Q:0001652044-25-000091
Form 10-Q, period ended 30 June 2025	24 Jul 2025	10-Q:0001652044-25-000062
Form 10-Q, period ended 31 March 2025	25 Apr 2025	10-Q:0001652044-25-000043
Form 10-K, period ended 31 December 2024	5 Feb 2025	10-K:0001652044-25-000014
Form 10-Q, period ended 30 September 2024	30 Oct 2024	10-Q:0001652044-24-000118
Form 10-Q, period ended 30 June 2024	24 Jul 2024	10-Q:0001652044-24-000079
Form 10-Q, period ended 31 March 2024	26 Apr 2024	10-Q:0001652044-24-000053
Form 10-K, period ended 31 December 2023	31 Jan 2024	10-K:0001652044-24-000022
Form 10-Q, period ended 30 September 2023	25 Oct 2023	10-Q:0001652044-23-000094
Form 10-Q, period ended 30 June 2023	26 Jul 2023	10-Q:0001652044-23-000070
Form 10-Q, period ended 31 March 2023	26 Apr 2023	10-Q:0001652044-23-000045
Form 10-K, period ended 31 December 2022	3 Feb 2023	10-K:0001652044-23-000016
Form 10-Q, period ended 30 September 2022	26 Oct 2022	10-Q:0001652044-22-000090
Form 10-Q, period ended 30 June 2022	27 Jul 2022	10-Q:0001652044-22-000071
Form 10-Q, period ended 31 March 2022	27 Apr 2022	10-Q:0001652044-22-000029
Form 10-K, period ended 31 December 2021	2 Feb 2022	10-K:0001652044-22-000019
Form 10-Q, period ended 30 September 2021	27 Oct 2021	10-Q:0001652044-21-000057
Form 10-Q, period ended 30 June 2021	28 Jul 2021	10-Q:0001652044-21-000047
Form 10-Q, period ended 31 March 2021	28 Apr 2021	10-Q:0001652044-21-000020
Form 10-K, period ended 31 December 2020	3 Feb 2021	10-K:0001652044-21-000010
Form 10-Q, period ended 30 September 2020	30 Oct 2020	10-Q:0001652044-20-000050
Form 10-Q, period ended 30 June 2020	31 Jul 2020	10-Q:0001652044-20-000032
Form 10-Q, period ended 31 March 2020	29 Apr 2020	10-Q:0001652044-20-000021

Checks

255250 of 255 checks passed, 5 warnings

Fiscal calendar68 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year120 of 121 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level; a difference that a later report explains is a warning, which does not stop publication.

Repurchases of common stock, FY2025: $45,309m against $45,709m

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity26 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Lease liabilities14 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

Debt maturities2 of 6 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.

31 Dec 2020: $15,319m against $999m

31 Dec 2021: $15,440m against $0

31 Dec 2022: $15,312m against $0

31 Dec 2023: $14,862m against $12,870m

Quarters and 9 months15 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Earnings per share4 passedNet income divided by average shares agrees with reported basic earnings per share. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	1,456
Proven by a check	44.8%, 652 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	18.5%, 270 values
Values withheld	0
Restated figures tracked	15
Changes compared on one basis	5
Company lines mapped	0 of 0 reviewed

Citation

Annalist, Alphabet Inc., snapshot alphabet/FY2026Q2_e68531aa (as of FY2026 Q2); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026Q2_e68531aa · dataset SHA-256 e68531aa3a639d2ce4112aef0dd1ece5a6eee93b010fedcbf3cf789eee8e50f9 · findings rules 0.4

Data: info.json · dataset.json · validation.json · documents.json