Google, (GOOG) Stock Analysis

Market Cap	300.9 B	P/E(ttm)	26.10
Enterprise Value	255.94 B	P/B	4.20

Financial Strength : 8/10

		vs industry	vs history
Cash to Debt	8.685	GOOG's Cash to Debt is ranked lower than 74% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 10000.00 vs. GOOG: 8.685 )	GOOG' s 10-Year Cash to Debt Range Min: 8.69 Max: No Debt Current: 8.69
Equity to Asset	0.573	GOOG's Equity to Asset is ranked higher than 57% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 0.52 vs. GOOG: 0.573 )	GOOG' s 10-Year Equity to Asset Range Min: 0.55 Max: 0.89 Current: 0.57 0.55 0.89
Interest Coverage	No Debt	GOOG's Interest Coverage is ranked higher than 55% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 10000.00 vs. GOOG: No Debt )	GOOG' s 10-Year Interest Coverage Range Min: 12 Max: No Debt Current: No Debt

F-Score: 6
Z-Score: 10.88
M-Score: -2.17

Profitability & Growth : 9/10

		vs industry	vs history
Operating margin (%)	25.40	GOOG's Operating margin (%) is ranked higher than 90% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 5.00 vs. GOOG: 25.40 )	GOOG' s 10-Year Operating margin (%) Range Min: -77.1 Max: 42.4 Current: 25.4 -77.1 42.4
Net-margin (%)	21.4	GOOG's Net-margin (%) is ranked higher than 90% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 3.20 vs. GOOG: 21.4 )	GOOG' s 10-Year Net-margin (%) Range Min: -76.9 Max: 29 Current: 21.4 -76.9 29
ROE (%)	15	GOOG's ROE (%) is ranked higher than 81% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 5.60 vs. GOOG: 15 )	GOOG' s 10-Year ROE (%) Range Min: -53.9 Max: 57.3 Current: 15 -53.9 57.3
ROA (%)	11.4	GOOG's ROA (%) is ranked higher than 84% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 3.20 vs. GOOG: 11.4 )	GOOG' s 10-Year ROA (%) Range Min: -31.3 Max: 34.7 Current: 11.4 -31.3 34.7
ROC (Joel Greenblatt) (%)	102.60	GOOG's ROC (Joel Greenblatt) (%) is ranked higher than 80% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 31.00 vs. GOOG: 102.60 )	GOOG' s 10-Year ROC (Joel Greenblatt) (%) Range Min: 91.3 Max: 344.2 Current: 102.6 91.3 344.2
Revenue Growth (%)	20.4	GOOG's Revenue Growth (%) is ranked higher than 96% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 8.40 vs. GOOG: 20.4 )	GOOG' s 10-Year Revenue Growth (%) Range Min: 14 Max: 124.5 Current: 20.4 14 124.5
EBITDA Growth (%)	12.1	GOOG's EBITDA Growth (%) is ranked higher than 92% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 11.10 vs. GOOG: 12.1 )	GOOG' s 10-Year EBITDA Growth (%) Range Min: 12.1 Max: 163.4 Current: 12.1 12.1 163.4
EPS Growth (%)	12.2	GOOG's EPS Growth (%) is ranked higher than 92% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 6.15 vs. GOOG: 12.2 )	GOOG' s 10-Year EPS Growth (%) Range Min: 12.2 Max: 145.8 Current: 12.2 12.2 145.8

» GOOG's 10-Y Financials

Financials

Revenue & Net Income

Cash & Debt

Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2012

Q3 2012

Q4 2012

Q1 2013

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Insider Trades

Latest Guru Trades with GOOG

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Guru	Date	Trades	Impact to Portfolio	Price Range * (?)	Current Price	Change from Average	Current Shares
Glenn Greenberg	2013-03-31	Reduce -54.44%	6.42%	$702.87 - $838.604	$ 906.97	17%	127178
John Griffin	2013-03-31	Reduce -45.53%	2.46%	$702.87 - $838.604	$ 906.97	17%	297000
George Soros	2013-03-31	Add 78.7%	1.37%	$702.87 - $838.604	$ 906.97	17%	337271
Frank Sands	2013-03-31	Add 15.81%	1.11%	$702.87 - $838.604	$ 906.97	17%	2884116
Julian Robertson	2013-03-31	Add 19.24%	0.6%	$702.87 - $838.604	$ 906.97	17%	34340
Leon Cooperman	2013-03-31	Reduce -45.25%	0.39%	$702.87 - $838.604	$ 906.97	17%	36295
Dodge & Cox	2013-03-31	Add 39.09%	0.37%	$702.87 - $838.604	$ 906.97	17%	1303140
John Burbank	2013-03-31	Add 41.27%	0.32%	$702.87 - $838.604	$ 906.97	17%	34329
Tom Gayner	2013-03-31	New Buy	0.15%	$702.87 - $838.604	$ 906.97	17%	5000
Steve Mandel	2012-12-31	Add 45.38%	2.15%	$647.18 - $768.05	$ 906.97	30%	1553073
Julian Robertson	2012-12-31	Reduce -20.66%	1.22%	$647.18 - $768.05	$ 906.97	30%	28800
John Burbank	2012-12-31	Reduce -58.88%	1.18%	$647.18 - $768.05	$ 906.97	30%	24300
John Griffin	2012-12-31	Add 4.87%	0.25%	$647.18 - $768.05	$ 906.97	30%	545300
Dodge & Cox	2012-12-31	Add 28.79%	0.2%	$647.18 - $768.05	$ 906.97	30%	936890
Tweedy Browne	2012-12-31	Add 5.35%	0.17%	$647.18 - $768.05	$ 906.97	30%	165650
Ron Baron	2012-12-31	Add 37.75%	0.03%	$647.18 - $768.05	$ 906.97	30%	25060
Glenn Greenberg	2012-09-30	Reduce -22.23%	3.51%	$570.55 - $755.94	$ 906.97	39%	300021
George Soros	2012-09-30	New Buy	2.3%	$570.55 - $755.94	$ 906.97	39%	189374
John Burbank	2012-09-30	Add 207.81%	1.35%	$570.55 - $755.94	$ 906.97	39%	59100
Wallace Weitz	2012-09-30	Reduce -28.92%	0.98%	$570.55 - $755.94	$ 906.97	39%	91189
Julian Robertson	2012-09-30	Add 15.08%	0.77%	$570.55 - $755.94	$ 906.97	39%	36300
Dodge & Cox	2012-09-30	New Buy	0.72%	$570.55 - $755.94	$ 906.97	39%	727450
Frank Sands	2012-09-30	Add 2.3%	0.17%	$570.55 - $755.94	$ 906.97	39%	2484149
Ray Dalio	2012-09-30	Sold Out	0.17%	$570.55 - $755.94	$ 906.97	39%	0
Joel Greenblatt	2012-09-30	Sold Out	0.1%	$570.55 - $755.94	$ 906.97	39%	0
Ron Baron	2012-09-30	Add 206.85%	0.06%	$570.55 - $755.94	$ 906.97	39%	18193
Daniel Loeb	2012-06-30	Sold Out	4.4%	$558.07 - $645.74	$ 906.97	51%	0
Tweedy Browne	2012-06-30	New Buy	3.2%	$558.07 - $645.74	$ 906.97	51%	158023
Glenn Greenberg	2012-06-30	Add 19.26%	2.55%	$558.07 - $645.74	$ 906.97	51%	385765
John Burbank	2012-06-30	Reduce -80.14%	1.68%	$558.07 - $645.74	$ 906.97	51%	19200
Leon Cooperman	2012-06-30	Reduce -44.22%	0.62%	$558.07 - $645.74	$ 906.97	51%	61275
Frank Sands	2012-06-30	Add 9.94%	0.58%	$558.07 - $645.74	$ 906.97	51%	2428364
Jean-Marie Eveillard	2012-06-30	Add 58.99%	0.32%	$558.07 - $645.74	$ 906.97	51%	382304
Ray Dalio	2012-06-30	New Buy	0.17%	$558.07 - $645.74	$ 906.97	51%	19240
Joel Greenblatt	2012-06-30	New Buy	0.1%	$558.07 - $645.74	$ 906.97	51%	2221

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Guru Investment Theses on Google, Inc.

Tweedy, Browne Comments on Google - Nov 29, 2012

As we have mentioned in past letters, value investors such as ourselves often have a difficult time investing in high technology companies largely due to their frequent high valuations, rapid rates of change in technology, and the potential for obsolescence. The last thing in the world we want to do is pay a high price for a rapidly growing business that gets leapfrogged by technological change shortly after we buy it. With this in mind, you might be surprised to know that we began building a position in Google (GOOG) back in February of this year when the stock dipped down to around $565 per share. At this price, we felt we were getting a bargain, paying roughly 12.5 x 2012 estimated earnings net of the cash on its balance sheet. And this was for a business that grows its top line at greater than 20% per year.

Google principally provides paid search, which is an effective, measurable, and high return on investment form of advertising. Google provides paid search on desktop computers, tablets, and mobile phones and has market shares that range from 65% to 85% throughout much of the world. Additionally, Google has one of the largest Display advertising networks in the industry, which is growing extremely fast and is quickly becoming a more meaningful part of the business.

Paid search is more mature today than it was in 2005 and we think that future growth will slow. Nevertheless, Google grew revenue roughly 24% in the first half of 2012 on a currency exchange rate neutral basis and our research suggests that paid search is still relatively underpenetrated. Advertising dollars have not yet caught up with the ongoing shift to ecommerce and digital media consumption, which will continue to drive dollars to paid search as well as Google's fast growing global display network. Display has the potential to be a large business as it is driven in large part by brand based ad spending which accounts for the vast majority of global ad spending.

With market shares in the search business that range from 65% to 85% in most countries throughout the world, it is reasonable to conclude that Google has a strong competitive position. Google's revenue is roughly 15 times higher than its nearest competitor, which has enabled them to put significantly more money into R&D, distribution, and the development of products and eco-systems that further promote and protect the use of Google's search. Moreover, as Microsoft's investment in search can attest, the search business is expensive to enter. However, like every investment we make, Google is not without risks. Vertical search, uncertainty regarding future growth rates, and risks related to Apple's strong share in smartphones and tablets all need to be monitored closely. Nevertheless, we feel that Google is well positioned to protect its interests and, perhaps most importantly, we paid a price that we felt more than discounted these potential risks.

We bought Google at roughly 12.5 x 2012 estimated earnings net of the cash on the balance sheet. We think this is a very low valuation as companies with market leading positions secured by strong competitive advantages in secular growth markets typically do not trade at market multiples. Unlike most companies growing revenue over 20% per annum, Google is also able to generate significant free cash flow due to the phenomenal economics of paid search. For these reasons we believe Google is undervalued and deserves a significantly above average multiple.

From Tweedy Browne's Investment Advisor's Letter and Semi-Annual Report.

Check out Tweedy Browne latest stock trades

Wedgewood Partners' David Rolfe Comments on Google - Nov 12, 2012

Google (GOOG) contributed to the portfolio’s relative outperformance, after the stock appreciated 30% during the Quarter. We believe this was a relief rally, as much as it was the stock catching up to the Company’s torrid growth from the past few years. Much of the relief had to do with Google’s strategy for newly acquired Motorola Mobility. While the Company has been light on specifics, rumors emerged that Google would sell the commodity feature-phone and set-top box units of Motorola by year-end, in order to focus exclusively on Android smartphones. We think a more focused Motorola is a good strategy that could drive increased adoption of Android-based smartphones, which ultimately drives Google’s rapidly growing mobile advertising business. As the stock’s forward price to earnings multiple expanded back to double-digits, we trimmed positions. The Company’s competitive edge is still very robust and we continue to think the stock is cheap, especially relative to its potential growth rate.

From Wedgewood Partners Third Quarter 2012 Review and Outlook.

Check out David Rolfe latest stock trades

Baron Funds Comments on Google - May 24, 2012

From Baron Funds' first quarter commentary: Google, Inc. (GOOG), which was the single largest contributor to performance last quarter declined less than 1% in the first quarter. Google is a global leader in online search and advertising. Shares of Google underperformed when the company's mobile search capabilities generated less revenue than anticipated and fourth-quarter results came in below expectations. We believe, while an important opportunity for future growth, mobile is largely incremental to Google's core search business, which continues to be healthy.We continue to be positive on Google's long-term prospects and find the current valuation especially attractive relative to the company's existing opportunity set. (Ashim Mehra)
Check out Ron Baron latest stock trades

Top Ranked Articles about Google, Inc.

George Soros Buys Google, Liberty Global, Sells Citigroup, AIG, GE, Apple

May 16, 2013

George Soros just reported his first quarter portfolio. He seems to be bullish as he has bought more stocks than sold. He added to his positions in Google, Liberty Global, etc., bought into Virgin Media, Qualcomm, Netflix, etc. He sold out GE, Morgan Stanley etc., and reduced positions in AIG, Citi etc. Overall, he bought more technology stocks and reduced financials. As of 03/31/2013, Soros Fund Management LLC owns 207 stocks with a total value of $8.6 billion. These are the details of the buys and sells that have the impact to portfolio of more than 0.1%. Read more...

The Gurus and Google

May 14, 2013

Now that Google Inc. (GOOG) is trading above $800 per share and it's up 31% in the first quarter of 2013, here’s an update on Google’s performance and a look at the Gurus trading as found on GuruFocus Real Time Picks. Up 45% over 12 months, Google Inc. (GOOG) has a market cap of $288.24 billion, and a P/E of 25.80. It currently trades at $877.53 per share. Read more...

Weekly Top Insider Sells

May 6, 2013

According to GuruFocus Insider Data, these are the largest insider sells during the past week. The overall trend of insiders is illustrated in the chart below: Read more...

Weekly Top Insider Sells Software Infrastructure, Internet Content & Information

April 28, 2013

According to GuruFocus Insider Data, these are the largest insider sells during the past week. The overall trend of insiders is illustrated in the chart below: Read more...

Weekly Top Insider Sells

April 22, 2013

According to GuruFocus Insider Data, these are the largest insider sells during the past week. The overall trend of insiders is illustrated in the chart below: Read more...

Robert Karr Buys Baidu, Micron Technology, Yelp, Sells Yum Brands, New Oriental Education, Facebook

April 17, 2013

Robert Karr is the founder of hedge fund Joho Capital. He is one of the Tiger Cubs, the hedge fund managers who learned from the legendary Julian Robertson. Robert Karr tends to hold very concentrated positions in the area of new technologies. His stock picks performed the best among our gurus, according to the Scoreboard of Gurus. Read more...

Online Media Guru and Tiger Cub Robert Karr Buys 2 New Stocks

April 16, 2013

Robert Karr is the founder of Joho Capital who learned the investing trade under legendary hedge fund manager Julian Robertson. He runs a concentrated portfolio of 14 stocks and specializes in online media stocks. His top three holdings – Google Inc. (GOOG), Mead Johnson Nutrition Company (MJN) and Baidu Inc. (BIDU) – comprise more than 50% of the portfolio. Read more...

Weekly Top Insider Sells

April 2, 2013

According to GuruFocus Insider Data, these are the largest insider sells during the past week. The overall trend of insiders is illustrated in the chart below: Read more...

Dodge & Cox Comments on Individual Stock Holdings

March 19, 2013

Long term-oriented, value investing firm Dodge & Cox had a good 2012 – its Dodge & Cox Stock Fund gained approximately 22% and its global and international funds each returned approximately 21% to investors. Dodge & Cox portfolios changed little during the year. Management at Dodge & Cox commented on the strategy that drove performance and individual stock holdings in its 2012 Year in Review discussion. You can watch the whole video here. Here are their comments on individual stocks: Read more...

Apple’s Crime and Punishment

March 14, 2013

Preface: Given the large number of articles available online that outline virtually every conceivable method of analyzing the quantitative factors of Apple (AAPL), the following aims instead to approach the subject from the more subjective, human aspect. Read more...

» More Articles for GOOG

		vs industry	vs history
P/E(ttm)	26.10	GOOG's P/E(ttm) is ranked higher than 80% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 22.09 vs. GOOG: 26.10 )	GOOG' s 10-Year P/E(ttm) Range Min: 16.52 Max: 261.15 Current: 26.1 16.52 261.15
P/B	4.20	GOOG's P/B is ranked lower than 66% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 1.91 vs. GOOG: 4.20 )	GOOG' s 10-Year P/B Range Min: 2.97 Max: 22.24 Current: 4.2 2.97 22.24
P/S	5.50	GOOG's P/S is ranked lower than 84% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 1.46 vs. GOOG: 5.50 )	GOOG' s 10-Year P/S Range Min: 3.99 Max: 23.83 Current: 5.5 3.99 23.83
PFCF	25.10	GOOG's PFCF is ranked higher than 58% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 17.70 vs. GOOG: 25.10 )	GOOG' s 10-Year PFCF Range Min: 14.97 Max: 147.78 Current: 25.1 14.97 147.78
EV-to-EBIT	20	GOOG's EV-to-EBIT is ranked higher than 76% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 16.10 vs. GOOG: 20 )	GOOG' s 10-Year EV-to-EBIT Range Min: 11.1 Max: 68.1 Current: 20 11.1 68.1
PEG	1.6	GOOG's PEG is ranked higher than 96% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 0.50 vs. GOOG: 1.6 )	GOOG' s 10-Year PEG Range Min: 0.49 Max: 1.65 Current: 1.6 0.49 1.65
Shiller P/E	35.7	GOOG's Shiller P/E is ranked higher than 87% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 7.00 vs. GOOG: 35.7 )	GOOG' s 10-Year Shiller P/E Range Min: 25.67 Max: 56.77 Current: 35.7 25.67 56.77

		vs industry	vs history
Price/Net Cash	11.3	GOOG's Price/Net Cash is ranked higher than 93% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 6.90 vs. GOOG: 11.3 )	GOOG' s 10-Year Price/Net Cash Range Min: 7 Max: 30.1 Current: 11.3 7 30.1
Price/Net Current Asset Value	43.3	GOOG's Price/Net Current Asset Value is ranked higher than 93% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 19.00 vs. GOOG: 43.3 )	GOOG' s 10-Year Price/Net Current Asset Value Range Min: 33.7 Max: 224.2 Current: 43.3 33.7 224.2
Price/Tangible Book	5.5	GOOG's Price/Tangible Book is ranked higher than 86% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 4.55 vs. GOOG: 5.5 )	GOOG' s 10-Year Price/Tangible Book Range Min: 4.3 Max: 19.2 Current: 5.5 4.3 19.2
Price/DCF (Projected)	1.6	GOOG's Price/DCF (Projected) is ranked higher than 92% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 1.20 vs. GOOG: 1.6 )	GOOG' s 10-Year Price/DCF (Projected) Range Min: 1.2 Max: 2.4 Current: 1.6 1.2 2.4
Price/Median PS Value	0.8	GOOG's Price/Median PS Value is ranked higher than 80% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 0.85 vs. GOOG: 0.8 )	GOOG' s 10-Year Price/Median PS Value Range Min: 0.6 Max: 2.7 Current: 0.8 0.6 2.7
Price/Peter Lynch Fair Value	1.6	GOOG's Price/Peter Lynch Fair Value is ranked higher than 96% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 0.90 vs. GOOG: 1.6 )	GOOG' s 10-Year Price/Peter Lynch Fair Value Range Min: 0.9 Max: 1.2 Current: 1.6 0.9 1.2
Price/Graham Number	2.5	GOOG's Price/Graham Number is ranked higher than 88% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 2.60 vs. GOOG: 2.5 )	GOOG' s 10-Year Price/Graham Number Range Min: 2 Max: 10.6 Current: 2.5 2 10.6
Earnings Yield (Greenblatt)	5.00	GOOG's Earnings Yield (Greenblatt) is ranked higher than 85% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 6.20 vs. GOOG: 5.00 )	GOOG' s 10-Year Earnings Yield (Greenblatt) Range Min: 1.5 Max: 9 Current: 5 1.5 9
Forward Rate of Return (Yacktman)	18.38	GOOG's Forward Rate of Return (Yacktman) is ranked higher than 96% of the 182 Companies in the Global Internet Content & Information industry. ( Industry Median: 2.64 vs. GOOG: 18.38 )	GOOG' s 10-Year Forward Rate of Return (Yacktman) Range Min: 18.8 Max: 58.1 Current: 18.38 18.8 58.1

Industry:	Internet Content & Information
Compare:	FB, TCEHY, BIDU, YHOO, YAHOY
Traded in other countries:	GGQ1.Germany

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Financial Strength : 8/10

Profitability & Growth : 9/10

Financials

Guru Trades

GOOG Guru Trades in Q2 2012

GOOG Guru Trades in Q3 2012

GOOG Guru Trades in Q4 2012

GOOG Guru Trades in Q1 2013

Insider Trades

Latest Guru Trades with GOOG

Guru Investment Theses on Google, Inc.

Tweedy, Browne Comments on Google - Nov 29, 2012

Wedgewood Partners' David Rolfe Comments on Google - Nov 12, 2012

Baron Funds Comments on Google - May 24, 2012

Top Ranked Articles about Google, Inc.

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