GrossPattern free-cash-flow proxy divided by revenue.
Alphabet's free cash flow margin was -4.9% for the period ended 2026-06-30, compared with 5.5% for the comparable period ended 2025-06-30. The latest observation ranks at the 4th percentile of 24 available as-filed observations, and the recent direction is inflecting. Within its current governed peer set, the observation ranks at the 76th percentile.
This analysis is tied to SEC accession 0001652044-26-000071; missing or incompatible inputs are withheld.
GrossPattern has 24 comparable as-filed observations from 2023-03-31 through 2026-06-30. Over that available history, the measure changed from 24.7% to -4.9%, a net change of -29.6%.
The highest observed value was 29.5% for the period ended 2023-09-30; the lowest was -4.9% for 2026-06-30. The current observation is 25.8% below the historical median of 20.9%.
Across the latest 4 sequential comparisons, free cash flow margin increased 1 time, decreased 3 times, and was unchanged 0 times. Direction is assigned by the governed multi-period research model, not by a single move.
| Period ended | Fiscal period | Free Cash Flow Margin | SEC evidence |
|---|---|---|---|
| 2026-06-30 | Q2 | -4.9% | 0001652044-26-000071 |
| 2026-03-31 | Q1 | 9.2% | 0001652044-26-000048 |
| 2025-12-31 | FY | 18.2% | 0001652044-26-000018 |
| 2025-09-30 | Q3 | 23.9% | 0001652044-25-000091 |
| 2025-06-30 | Q2 | 5.5% | 0001652044-26-000071 |
| 2025-06-30 | Q2 | 5.5% | 0001652044-25-000062 |
| 2025-03-31 | Q1 | 21.0% | 0001652044-26-000048 |
| 2025-03-31 | Q1 | 21.0% | 0001652044-25-000043 |
Methodology. Deterministic proxy; not issuer-reported non-GAAP free cash flow. Missing, incompatible, or quality-blocked SEC inputs are withheld rather than treated as zero. Percentiles use the displayed as-filed history; peer context appears only when the governed comparison is valid.
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