Did Alphabet's purchases of property and equipment for the quarter ended September 30, 2026 equal 80% or more of its net cash provided by operating activities for the same quarter?
Take the three-month figures from the statement of cash flows in Alphabet's earnings release; if the release gives only year-to-date figures, use the nine-month figure less the six-month figure from the Form 10-Q. Divide purchases of property and equipment by net cash provided by operating activities. The answer is yes if the ratio is 80.0% or more; no if it is below 80.0%. Alphabet's own free cash flow line, finance leases and its spending guidance for the year are read alongside and do not decide the test.
If the source is late or silent: Alphabet has scheduled the release for October 28, 2026. If neither the release nor a Form 10-Q states the quarter's cash flow figures on EDGAR by November 9, 2026, the test is inconclusive, and the Result says what was read and what was missing; the next reading is November 16, 2026. Figures are read as first filed; a later amendment does not reopen the test.
If no
The cash still covers it
Cloud sales and early contracts keep operating cash well ahead of the building spree, so the ratio stays below 80%.
If yes
The bill has moved to debt
Spending now outruns operating cash, pushing the ratio to 80% or more as debt and leases pick up the rest.
50%
NoYes
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The case · 21 people · 2 minutes
The cash still covers it7 people argue nounsided7The bill has moved to debt7 people argue yes
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What would change the Call
Alphabet's reported purchases of property and equipment versus its net cash from operations for the quarter would move the call.
The Call · Part 14
Microsoft pays for its build from its own cash. Alphabet and Meta spend most of theirs; Amazon spends more than its operations bring in.
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The Part
The Cash Arrives Unevenly
Microsoft, Alphabet, Amazon and Meta spent 96 cents on property and equipment for each dollar of operating cash in the second quarter of 2026, up from 65 cents across 2025, by DeepStack's reading of SEC filings. Microsoft still pays from its own cash. Amazon spent $1.38 per dollar in the first half.
Chart: Cents of each operating dollar spent on the build · Data Desk