# GOOGL · Alphabet Inc.

Snapshot 2026-10-26 · CIK 0001652044 · Nasdaq · Services-Computer Programming, Data Processing, Etc.

Price 320.21 (2026-10-23, Alpaca Market Data (consolidated SIP daily bar)) · Market cap 3916.17 B

Machine-readable: https://theclaudetrader.com/s/GOOGL.json · index: https://theclaudetrader.com/llms.txt

## Scores

### Graham Defensive: 51.5 (partial: 5) · complete: False · missing tests: 5 · current inputs as of 2025-12-31 · stale inputs: Revenue · history 2014–2025 · price 2026-10-23 · verification {'verified': 3, 'mismatch': 0, 'unverified': 20, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham
- 1 Adequate size: 402.84 revenue $B · threshold >= 1 · points 5.0/5
- 2a Current ratio: 2.72  · threshold >= 2.0 · points 15.0/15
- 2b Long-term debt vs working capital: 0.45 LTD / WC · threshold <= 1.0 · points 15.0/15
- 3 Positive earnings each of 10 years: 10 of 10  · threshold 10 of 10 · points 15.0/15
- 4 Dividends every year for 20 years: 2 of 20  · threshold 20 of 20 · points 1.5/15
- 5 EPS growth, 3-yr avg now vs 10 yrs ago: None  · threshold >= +33% · points None/10
- 6 P/E on 3-year average EPS: 39.0  · threshold <= 15 · points 0.0/15
- 7 P/B <= 1.5, or P/E x P/B <= 22.5: P/B 6.11, product 238.3  · threshold <= 1.5 or <= 22.5 · points 0.0/10

Inputs:
  - Price (close, per traded unit): 320.21 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - Revenue: 402836000000.0 · 2025-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - current_assets: 343524000000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - current_liabilities: 126111000000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - lt_debt: 98165000000.0 · 2026-06-30 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - equity: 640480000000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - Net income FY2016: 19478000000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204419000004/ · unverified
  - Net income FY2017: 12662000000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204420000008/ · unverified
  - Net income FY2018: 30736000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204421000010/ · unverified
  - Net income FY2019: 34343000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/ · unverified
  - Net income FY2020: 40269000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/ · unverified
  - Net income FY2021: 76033000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified
  - Net income FY2022: 59972000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Net income FY2023: 73795000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2024: 100118000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2025: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Dividend years (Yahoo): [2024, 2025, 2026] ·  · Yahoo Finance dividend history · https://finance.yahoo.com/quote/GOOGL/history?filter=div · verified (partly: XBRL covers 2 of 20 years)
  - Dividends per share FY2024 (XBRL): 0.6 · 2024-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · verified
  - Dividends per share FY2025 (XBRL): 0.83 · 2025-12-31 · SEC XBRL CommonStockDividendsPerShareDeclared · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · verified
  - EPS diluted FY2014: 1.0285 · 2014-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204416000022/ · unverified
  - EPS diluted FY2016: 1.3925 · 2016-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204419000004/ · unverified
  - EPS diluted FY2023: 5.8 · 2023-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - EPS diluted FY2024: 8.04 · 2024-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - EPS diluted FY2025: 10.81 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Shares outstanding: 12230000000.0 · 2026-07-15 · SEC cover page 10-Q 0001652044-26-000071 (sum of classes (Class A Common Stock, $0.001 par value 5,868,000,000 x 1; Class C Capital Stock, $0.001 par value 5,527,000,000 x 1; Class B Common Stock 835,000,000 x 1; class economics verified in https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm)); filing document https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/goog-20260630.htm · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/R1.htm

### Magic Formula: — (insufficient data (no fresh property, plant and equipment (PropertyPlantAndEquipmentNet) reported)) · complete: None · missing tests: none · current inputs as of None · stale inputs: none · history None–None · price None · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/magic_formula

### Momentum: 64.7 (ok) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price 2026-10-23 · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/momentum
-  12-1 month return: 33.8 % · threshold  · points 40.2/50
-  6 month return: -5.4 % · threshold  · points 5.8/20
-  Price / 52-week high: 0.796  · threshold  · points 11.9/15
-  Volatility penalty (60d annualised): 29.3 % · threshold  · points 6.8/15

Inputs:
  - Adjusted close series (14 months): 320.21 · 2026-10-23 · Yahoo Finance / Alpaca Market Data daily history · 

### Insider: 0.0 (no open-market transactions in window) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price None · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/insider
-  Open-market buy value / market cap (percentile among buyers): 0.0 bp · threshold  · points 0.0/35
-  Distinct buyers: 0  · threshold  · points 0.0/25
-  Buyer seniority: 0.0  · threshold  · points 0.0/20
-  Recency (half-life 30d): 0.0  · threshold  · points 0.0/10
-  Sales penalty (excludes 10b5-1 plan sales): 0.0 bp · threshold  · points -0.0/0

Inputs:
  - excluded 2026-09-30 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-08-28 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-07-30 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-07-29 S: 10b5-1 plan ·  · rule · 

### Buffett Quality: 80.5 (ok) · complete: True · missing tests: none · current inputs as of 2025-12-31 · stale inputs: debt_incl_current · history 2016–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 48, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/buffett
- 1 Average return on equity (net income / year-end equity): 24.3% over 8 yrs  · threshold >= 15% · points 25.0/25
- 2 Profitable every year: 10 of 10  · threshold all years · points 15.0/15
- 3 Net income growth, 3-yr average now vs start of window: +25.4% a year  · threshold >= +10% · points 10.0/10
- 4 Borrowings / 3-yr average earnings (years to repay): 0.5 years · threshold <= 4 · points 15.0/15
- 5 Operating margin, 5-yr average: 29.7%  · threshold >= 20% · points 10.0/10
- 6 Free cash flow / net income, 5-yr (operating cash flow minus capex): 0.77  · threshold >= 1.0 · points 5.5/10
- 7 Owner-earnings yield (3-yr avg free cash flow / market cap): 1.8%  · threshold >= 7% · points 0.0/15

Inputs:
  - Price (close, per traded unit): 320.21 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - Net income FY2018: 30736000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204421000010/ · unverified
  - Equity at FY2018 end: 177628000000.0 · 2018-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/ · unverified
  - Net income FY2019: 34343000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/ · unverified
  - Equity at FY2019 end: 201442000000.0 · 2019-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/ · unverified
  - Net income FY2020: 40269000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/ · unverified
  - Equity at FY2020 end: 222544000000.0 · 2020-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified
  - Net income FY2021: 76033000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified
  - Equity at FY2021 end: 251635000000.0 · 2021-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Net income FY2022: 59972000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Equity at FY2022 end: 256144000000.0 · 2022-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2023: 73795000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Equity at FY2023 end: 283379000000.0 · 2023-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2024: 100118000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Equity at FY2024 end: 325084000000.0 · 2024-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - Net income FY2025: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Equity at FY2025 end: 415265000000.0 · 2025-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - Net income FY2016: 19478000000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204419000004/ · unverified
  - Net income FY2017: 12662000000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204420000008/ · unverified
  - Net income FY2018: 30736000000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204421000010/ · unverified
  - Net income FY2019: 34343000000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/ · unverified
  - Net income FY2020: 40269000000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/ · unverified
  - Net income FY2021: 76033000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified
  - Net income FY2022: 59972000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Net income FY2023: 73795000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2024: 100118000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2025: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - debt_incl_current: 49085000000.0 · 2025-12-31 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - debt_short: 0.0 · 2026-06-30 · SEC XBRL CommercialPaper · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - Operating income FY2021: 78714000000.0 · 2021-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified
  - Revenue FY2021: 257637000000.0 · 2021-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/ · unverified
  - Operating income FY2022: 74842000000.0 · 2022-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Revenue FY2022: 282836000000.0 · 2022-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Operating income FY2023: 84293000000.0 · 2023-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Revenue FY2023: 307394000000.0 · 2023-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Operating income FY2024: 112390000000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Revenue FY2024: 350018000000.0 · 2024-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Operating income FY2025: 129039000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Revenue FY2025: 402836000000.0 · 2025-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Operating cash flow FY2021: 91652000000.0 · 2021-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified

### Lynch GARP: 91.1 (ok) · complete: True · missing tests: none · current inputs as of 2025-12-31 · stale inputs: debt_incl_current · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 6, 'not_cross_checked': 1} · computed 2026-10-26 · rules https://theclaudetrader.com/p/lynch
- 1 PEG: P/E divided by 5-yr EPS growth (in % points): 0.99  · threshold <= 1.0 · points 30.0/30
- 2 EPS growth, 5-yr compound rate: +29.8% a year  · threshold 12% to 35% a year · points 20.0/20
- 3 P/E on latest annual EPS: 29.6  · threshold <= 25 · points 6.9/10
- 4 Borrowings / equity: 0.08  · threshold <= 0.5 · points 15.0/15
- 5 Years of the last 5 in which EPS rose: 4 of 5  · threshold 5 of 5 · points 12.0/15
- 6 Net cash (cash minus borrowings) / market cap: +0.2%  · threshold >= +10% · points 7.2/10

Inputs:
  - Price (close, per traded unit): 320.21 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - EPS diluted FY2025: 10.81 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - EPS diluted FY2020: 2.93 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/ · unverified
  - debt_incl_current: 49085000000.0 · 2025-12-31 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - debt_short: 0.0 · 2026-06-30 · SEC XBRL CommercialPaper · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - equity: 640480000000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - cash: 55911000000.0 · 2026-06-30 · SEC XBRL CashAndCashEquivalentsAtCarryingValue · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified

### Graham Enterprising: 65.0 (ok) · complete: True · missing tests: none · current inputs as of 2025-12-31 · stale inputs: debt_incl_current · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 13, 'not_cross_checked': 3} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham_enterprising
- 1 Current ratio: 2.72  · threshold >= 1.5 · points 15.0/15
- 2 Borrowings vs working capital: 0.23 x · threshold <= 1.1x · points 15.0/15
- 3 No earnings deficit in the last 5 years: 5 of 5 profitable  · threshold 5 of 5 · points 15.0/15
- 4 Pays a current dividend: yes  · threshold yes · points 10.0/10
- 5 EPS higher than five years earlier: 2.93 -> 10.81  · threshold higher · points 10.0/10
- 6 Price / book value per share: 6.11  · threshold <= 1.2 · points 0.0/20
- 7 Price / net current asset value per share (current assets minus all liabilities): 63.14  · threshold <= 0.67 · points 0.0/15

Inputs:
  - Price (close, per traded unit): 320.21 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - current_assets: 343524000000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - current_liabilities: 126111000000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - debt_incl_current: 49085000000.0 · 2025-12-31 · SEC XBRL LongTermDebt · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - debt_short: 0.0 · 2026-06-30 · SEC XBRL CommercialPaper · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - Net income FY2021: 76033000000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/ · unverified
  - Net income FY2022: 59972000000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/ · unverified
  - Net income FY2023: 73795000000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2024: 100118000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Net income FY2025: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - Dividend years (Yahoo): [2024, 2025, 2026] ·  · Yahoo Finance dividend history · https://finance.yahoo.com/quote/GOOGL/history?filter=div
  - EPS diluted FY2025: 10.81 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - EPS diluted FY2020: 2.93 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/ · unverified
  - equity: 640480000000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - Shares outstanding: 12230000000.0 · 2026-07-15 · SEC cover page 10-Q 0001652044-26-000071 (sum of classes (Class A Common Stock, $0.001 par value 5,868,000,000 x 1; Class C Capital Stock, $0.001 par value 5,527,000,000 x 1; Class B Common Stock 835,000,000 x 1; class economics verified in https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm)); filing document https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/goog-20260630.htm · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/R1.htm
  - liabilities: 281503000000.0 · 2026-06-30 · SEC XBRL Liabilities · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified

### Piotroski F-Score: 44.4 (ok) · complete: True · missing tests: none · current inputs as of None · stale inputs: none · history 2024–2026 · price None · verification {'verified': 0, 'mismatch': 0, 'unverified': 27, 'not_cross_checked': 0} · computed 2026-10-26 · rules https://theclaudetrader.com/p/piotroski
- 1 Return on assets is positive: 22.2%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 2 Operating cash flow is positive: 164,713M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 3 Return on assets improved on the prior year: 22.2% -> 22.2%  · threshold pass = 1 · points 0.0/11.11111111111111
- 4 Operating cash flow exceeds net income (accruals): 164,713M vs 132,170M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 5 Long-term debt / assets fell: 2.4% -> 7.8%  · threshold pass = 1 · points 0.0/11.11111111111111
- 6 Current ratio improved: 1.84 -> 2.01  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 7 No new shares issued (share count did not rise): 12,104M -> 12,230M  · threshold pass = 1 · points 0.0/11.11111111111111
- 8 Operating margin improved (stand-in for gross margin, which the dataset does not carry): 32.1% -> 32.0%  · threshold pass = 1 · points 0.0/11.11111111111111
- 9 Asset turnover (revenue / assets) improved: 0.78 -> 0.68  · threshold pass = 1 · points 0.0/11.11111111111111

Inputs:
  - net_income 2025-12-31: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - total_assets 2025-12-31: 595281000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - cfo 2025-12-31: 164713000000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - net_income 2025-12-31: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - net_income 2024-12-31: 100118000000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - total_assets 2025-12-31: 595281000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - total_assets 2024-12-31: 450256000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - cfo 2025-12-31: 164713000000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - net_income 2025-12-31: 132170000000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001308179-26-000342) · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - lt_debt 2025-12-31: 46547000000.0 · 2025-12-31 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - lt_debt 2024-12-31: 10883000000.0 · 2024-12-31 · SEC XBRL LongTermDebtNoncurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - total_assets 2025-12-31: 595281000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - total_assets 2024-12-31: 450256000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - current_assets 2025-12-31: 206038000000.0 · 2025-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - current_assets 2024-12-31: 163711000000.0 · 2024-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - current_liabilities 2025-12-31: 102745000000.0 · 2025-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - current_liabilities 2024-12-31: 89122000000.0 · 2024-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - shares_out 2026-07-15: 12230000000.0 · 2026-07-15 · SEC cover page 10-Q 0001652044-26-000071 (sum of classes (Class A Common Stock, $0.001 par value 5,868,000,000 x 1; Class C Capital Stock, $0.001 par value 5,527,000,000 x 1; Class B Common Stock 835,000,000 x 1; class economics verified in https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm)); filing document https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/goog-20260630.htm · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/R1.htm · unverified
  - shares_out 2025-06-30: 12104000000.0 · 2025-06-30 · SEC XBRL CommonStockSharesOutstanding · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000062/ · unverified
  - operating_income 2025-12-31: 129039000000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - operating_income 2024-12-31: 112390000000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - revenue 2025-12-31: 402836000000.0 · 2025-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - revenue 2024-12-31: 350018000000.0 · 2024-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - revenue 2025-12-31: 402836000000.0 · 2025-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - revenue 2024-12-31: 350018000000.0 · 2024-12-31 · SEC XBRL Revenues · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified
  - total_assets 2025-12-31: 595281000000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/ · unverified
  - total_assets 2024-12-31: 450256000000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/ · unverified

## Market value, source trail

- Formula: market_value = traded_price (price date) / depositary_ratio x latest point-in-time SEC shares outstanding (share-count date shown; from the filing cover page, summed across share classes only where the issuer filing verifies the classes are economically equivalent (rule + evidence URL in the source text), else withheld; priced at the primary listed class, so where other classes trade at a different price the value is an approximation; restated only for issuer-verified splits after the count date); weighted-average share counts are never used
- Traded price: 320.21 on 2026-10-23 (USD per traded unit (share or ADS)) · https://docs.alpaca.markets/docs/historical-stock-data-1
- SEC shares outstanding: 12,230,000,000 underlying shares, period 2026-07-15, SEC cover page 10-Q 0001652044-26-000071 (sum of classes (Class A Common Stock, $0.001 par value 5,868,000,000 x 1; Class C Capital Stock, $0.001 par value 5,527,000,000 x 1; Class B Common Stock 835,000,000 x 1; class economics verified in https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm)); filing document https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/goog-20260630.htm, accession 0001652044-26-000071 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000071/R1.htm
- Depositary ratio: 1.0 (domestic; 10-K filer; SEC shares are the traded units) · None
- Market value (price date x latest reported shares): 3,916,168,300,000 USD; 320.21 (price 2026-10-23) / 1 x 12,230,000,000 (shares at 2026-07-15) = 3,916,168,300,000

## Revenue by fiscal year (SEC XBRL; FY = calendar year in which the fiscal year ends)

- FY2013 (ended 2013-12-31): 55519000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204416000022/
- FY2014 (ended 2014-12-31): 66001000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204417000008/
- FY2015 (ended 2015-12-31): 74989000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204418000007/
- FY2016 (ended 2016-12-31): 90272000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204418000007/
- FY2017 (ended 2017-12-31): 110855000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204418000007/
- FY2018 (ended 2018-12-31): 136819000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204421000010/
- FY2019 (ended 2019-12-31): 161857000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/
- FY2020 (ended 2020-12-31): 182527000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/
- FY2021 (ended 2021-12-31): 257637000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/
- FY2022 (ended 2022-12-31): 282836000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/
- FY2023 (ended 2023-12-31): 307394000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/
- FY2024 (ended 2024-12-31): 350018000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/
- FY2025 (ended 2025-12-31): 402836000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/

## Net income by fiscal year (SEC XBRL)

- FY2013 (ended 2013-12-31): 12733000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204416000022/
- FY2014 (ended 2014-12-31): 14136000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204417000008/
- FY2015 (ended 2015-12-31): 16348000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204418000007/
- FY2016 (ended 2016-12-31): 19478000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204419000004/
- FY2017 (ended 2017-12-31): 12662000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204420000008/
- FY2018 (ended 2018-12-31): 30736000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204421000010/
- FY2019 (ended 2019-12-31): 34343000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204422000019/
- FY2020 (ended 2020-12-31): 40269000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204423000016/
- FY2021 (ended 2021-12-31): 76033000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204424000022/
- FY2022 (ended 2022-12-31): 59972000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204425000014/
- FY2023 (ended 2023-12-31): 73795000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/
- FY2024 (ended 2024-12-31): 100118000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/
- FY2025 (ended 2025-12-31): 132170000000.0 · https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/

## EPS diluted by fiscal year (split-adjusted to today's share basis; as filed in brackets)

- FY2013 (ended 2013-12-31): 0.9395 [filed 18.79, split factor 20.0]
- FY2014 (ended 2014-12-31): 1.0285 [filed 20.57, split factor 20.0]
- FY2016 (ended 2016-12-31): 1.3925 [filed 27.85, split factor 20.0]
- FY2017 (ended 2017-12-31): 0.9 [filed 18.0, split factor 20.0]
- FY2018 (ended 2018-12-31): 2.185 [filed 43.7, split factor 20.0]
- FY2019 (ended 2019-12-31): 2.458 [filed 49.16, split factor 20.0]
- FY2020 (ended 2020-12-31): 2.93 [filed 2.93, split factor 1.0]
- FY2021 (ended 2021-12-31): 5.61 [filed 5.61, split factor 1.0]
- FY2022 (ended 2022-12-31): 4.56 [filed 4.56, split factor 1.0]
- FY2023 (ended 2023-12-31): 5.8 [filed 5.8, split factor 1.0]
- FY2024 (ended 2024-12-31): 8.04 [filed 8.04, split factor 1.0]
- FY2025 (ended 2025-12-31): 10.81 [filed 10.81, split factor 1.0]

## Dividend years (Yahoo history)

2024, 2025, 2026

## Insider transactions (SEC Form 4 data set, latest 40)

- 2026-09-30 S ARNOLD FRANCES (director) 83 @ 340.45 = 28257 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526412669/#live
- 2026-08-28 S ARNOLD FRANCES (director) 82 @ 337.71 = 27692 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526377149/
- 2026-07-30 S ARNOLD FRANCES (director) 82 @ 333.39 = 27338 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526326284/
- 2026-07-29 S Saraci Marsida (officer) 449 @ 333.20 = 149607 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526324312/
- 2026-06-30 S ARNOLD FRANCES (director) 112 @ 351.28 = 39343 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526290710/
- 2026-06-29 S WALKER JOHN KENT (Pres) 680 @ 348.28 = 236830 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 520 @ 347.25 = 180570 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 920 @ 346.13 = 318440 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 760 @ 345.18 = 262337 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 80 @ 351.90 = 28152 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 1280 @ 349.42 = 447258 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 2400 @ 350.49 = 841176 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-29 S WALKER JOHN KENT (Pres) 2358 @ 351.21 = 828153 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526292904/
- 2026-06-26 S Saraci Marsida (officer) 449 @ 341.72 = 153432 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526289028/
- 2026-06-15 S Hennessy John L. (director) 68 @ 366.34 = 24911 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 45 @ 366.22 = 16480 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 33 @ 367.66 = 12133 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 177 @ 369.21 = 65350 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 45 @ 369.89 = 16645 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 51 @ 366.01 = 18667 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 158 @ 369.66 = 58406 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 130 @ 368.92 = 47960 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 44 @ 367.27 = 16160 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 119 @ 369.69 = 43993 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 145 @ 369.04 = 53511 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-06-15 S Hennessy John L. (director) 35 @ 367.09 = 12848 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526276111/
- 2026-05-29 S ARNOLD FRANCES (director) 102 @ 381.00 = 38862 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526252002/
- 2026-05-15 S Hennessy John L. (director) 32 @ 391.20 = 12518 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 138 @ 393.79 = 54343 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 199 @ 392.79 = 78165 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 45 @ 394.96 = 17773 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 171 @ 393.54 = 67295 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 31 @ 395.42 = 12258 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 39 @ 394.95 = 15403 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 90 @ 393.75 = 35438 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 134 @ 392.86 = 52643 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 37 @ 391.89 = 14500 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-05-15 S Hennessy John L. (director) 134 @ 392.41 = 52583 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526231383/
- 2026-04-30 S ARNOLD FRANCES (director) 102 @ 371.00 = 37842 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526201851/
- 2026-04-15 S Hennessy John L. (director) 105 @ 330.54 = 34707 · https://www.sec.gov/Archives/edgar/data/1652044/000119312526162189/

## Links

- sec_filings: https://www.sec.gov/edgar/browse/?CIK=0001652044
- sec_xbrl_companyfacts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001652044.json
- sec_form4: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001652044&type=4
- sec_8k: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001652044&type=8-K
- yahoo: https://finance.yahoo.com/quote/GOOGL
- stooq: https://stooq.com/q/d/?s=googl.us
- morningstar (link only, nothing stored): https://www.morningstar.com/search?query=GOOGL
- finviz (link only, nothing stored): https://finviz.com/quote.ashx?t=GOOGL
- stockanalysis (link only, nothing stored): https://stockanalysis.com/stocks/googl/
- seeking_alpha (link only, nothing stored): https://seekingalpha.com/symbol/GOOGL
- openinsider (link only, nothing stored): http://openinsider.com/search?q=GOOGL
- google_news (link only, nothing stored): https://news.google.com/rss/search?q=GOOGL+stock

Cite as: The Claude Trader snapshot 2026-10-26, https://theclaudetrader.com/s/GOOGL; data from SEC EDGAR XBRL and market prices (Alpaca Market Data, Yahoo Finance) to 2026-10-23.

Scores are deterministic rule outputs from public filings. fair_value_model is a labelled model estimate from the same filings (method at /fair-value), not an opinion or recommendation.