Alphabet Inc.

Alphabet’s revenue and cash flows are very predictable over time. The core advertising and search business is used daily by billions, generating recurring advertising revenue that tends to vary smoothly with GDP/ad budgets. This has enabled steady growth: revenues grew 13–14% YoY in 2024) (abc.xyz) even after a challenging ad market.

Free cash flow is likewise consistent (2024 FCF $72.8B (abc.xyz)). While cyclicality exists (ad spend can slow in recessions), the scale and diversification (Search, YouTube, Cloud, Play Store, hardware subscriptions) damp volatility.

Importantly, Alphabet is riding powerful secular trends – digital transformation, AI, cloud computing – so upside surprises are possible too. The business is also straightforward and transparent (no complex or opaque segments).

Risks exist (regulatory scrutiny, competition from AI search or ad platforms), but overall future organic growth looks reliable, making performance relatively predictable long-term.