Alphabet’s shares trade near record highs ahead of earnings
Alphabet Inc. is set to release its Q4 2025 financial results following the market close on Wednesday, 4 February. Market consensus estimates currently project total revenue of $111.33 billion and earnings per share (EPS) of $2.63. These forecasts imply a year-on-year (YoY) increase of 15% in total revenue and a 24% rise in EPS. Although these growth figures represent strong performance, they sit slightly below the historical averages observed during the analysed period.
Financial analysis of Alphabet Inc.
From a fundamental perspective, Figure 1 demonstrates that Alphabet has sustained a long-term upward trajectory in both total revenue and net income. The company’s average revenue growth rate is recorded at 17%, with a particularly consistent acceleration observed since Q2 2023.
Figure 1. Total revenue, net income, and respective growth rates of Alphabet Inc. (2019–2025). Source: Own analysis using data from the Nasdaq Exchange.
Additionally, as illustrated in Figure 2, Alphabet’s net margin maintains a healthy upward trend. The net margin has averaged approximately 25% and has shown steady improvement throughout the period under review.
Figure 2. Net margin trend and profitability analysis of Alphabet Inc. (2019–2025). Source: Own analysis using data from the Nasdaq Exchange.
Finally, figure 3 highlights a consistent expansion of total assets since 2014, reflecting the firm’s ongoing commitment to infrastructure development and industrial scale. This expansion has been meticulously managed alongside strategic leverage control; the debt ratio has remained near its historical average of 5.3% and is currently on a downward trend. In summary, Alphabet exhibits significant strength in revenue and income growth, while maintaining minimal and well-controlled leverage risk.
Figure 3. Total assets, total debt, and debt ratio of Alphabet Inc. (2014–2025). Source: Own analysis using data from the Nasdaq Exchange.
Technical analysis of Alphabet’s shares
Regarding the technical outlook, Alphabet’s share price maintains its primary long-term bullish trajectory. Key observations include:
- Trend Context: Over the long term, Alphabet preserves a market structure defined by a sequence of “higher highs” and “higher lows”. The price is currently trading significantly above its 50, 100, and 200-day simple moving averages (SMAs), reinforcing the prevailing bullish momentum. However, momentum oscillators—specifically the MACD and RSI—indicate overbought conditions.
- Resistance Levels: Should price action breach the immediate resistance at $344 (the historical peak), the next significant technical level is the upper boundary of the medium-term bullish channel, located near $365. A decisive close above this level would likely initiate a new expansionary phase toward higher valuation zones.
- Support Levels: If the immediate support at $328 is invalidated, the next critical floor is identified at $300. This level aligns with the 100-day SMA and represents a significant psychological zone. A failure to defend the $300 level would substantially increase the probability of a more pronounced market correction.
- Momentum and Volume: The Moving Average Convergence Divergence (MACD) indicates a bearish divergence that has been developing for approximately two months. Concurrently, the Relative Strength Index (RSI) is trading within the overbought zone. Taken together, these indicators suggest the likelihood of a short-term correction or a phase of price consolidation.
Figure 4. Alphabet’s share price performance and technical indicators (2024–2026). Source: Data from the Nasdaq Exchange; Own analysis conducted via TradingView.
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