Alphabet, Google's holding company, continues to be one of the most solid examples of long-term value creation. Although the risks associated with its business have been widely mentioned, notably the lawsuits threatening the sale of search and the impact of LLMs on the search engine's growth, the company has proved resilient.
Its business model combines scalability, profitability and a continuous commitment to innovation:
- Market dominance: it has more than 90% of the global search market and more than 2 billion active users on YouTube; 📊
- Highly profitable model: robust operating margins, cash generation capacity and an ROIC of over 35%; 📈
- Growing diversification: although 75% of revenue still comes from advertising, the accelerated growth of Google Cloud and digital subscriptions (YouTube Premium, Google One) is reducing this dependency; 🚀
- Betting on AI: Alphabet is integrating Gemini into Search, YouTube and Workspace, opening up new sources of monetization; 📌
- Robust cash reserves: more than 100 billion dollars in liquidity, making it possible to finance massive investments in AI and infrastructure without compromising financial strength; 💼
- Long-term strategic options: through Other Bets, it maintains exposure to emerging areas with high growth potential, such as autonomous mobility (Waymo), digital health (Verily) and longevity (Calico).
This balance between highly profitable core business, growth diversification and disruptive strategic bets is what makes Alphabet a unique company and an investment that continues to deserve attention.
🔎 If you want to know more about this investment opportunity visit the full analysis at: https://open.substack.com/pub/dalemcapital/p/alphabet-inc-analise-completa
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