As of the end of September 2026, Alphabet's capital spending over the latest twelve months reached 33.9% of revenue, well above a 12.7% median across quarter ends from December 2012 to September 2025, mainly for AI computing infrastructure. Cash from operations over that period was $180 billion, below the $236 billion of net income, while debt reached 14.1% of total assets against a 5.2% median; the company held $265 billion of cash and short-term investments versus $142 billion of debt. Free cash flow fell to $19.7 billion from $73.6 billion a year earlier, and share repurchases dropped to $5.9 billion from $55.4 billion. The shares lost 19.2% from October 5 to November 3, 2026, while the S&P 500 lost 2.6%. The article notes that reported profit now runs ahead of cash, largely because of a second-quarter fiscal 2026 gain from outside operations, and buybacks are a fraction of prior levels.
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Alphabetshare buybackscurrenciesAI investment
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Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 11/03/2026 | 280.03 |
| Change that session | +0.37% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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