Alphabet Inc.

Alphabet’s financial condition is outstanding. It has enormous cash reserves (≈$96B at end-2024 (abc.xyz)) against only modest debt ($11B long-term)). The company generates vastly more cash than it spends; for example, in 2024 it earned $119.8B pre-tax on $350B revenue, and retained $72.8B free cash flow (abc.xyz).

This creates a fortress balance sheet – Alphabet could weather a severe downturn without breaching covenants or needing to cut R&D/investment. In fact it carried less debt in 2024 than the prior year while returning a large excess to shareholders.

The strong financial base also funds huge R&D and capital expenditures (e.g. data centers) that strengthen its moat. Bottom line: liquidity and capital structure are rock-solid, enabling capacity for any crisis.