Alphabet Inc.
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | $12.66B | $19.48B | $16.35B | $14.14B | $12.73B |
| Depreciation & Amortization | — | — | — | — | — |
| Depreciation | — | — | — | — | — |
| Amortization | — | — | — | — | — |
| Stock-Based Compensation | $7.68B | $6.70B | $5.20B | $4.28B | $3.34B |
| Net Cash from Operating Activities | $37.09B | $36.04B | $26.57B | $23.02B | $18.66B |
| Investing Activities | |||||
| Capital Expenditures | $13.18B | $10.21B | $9.95B | $11.01B | $7.36B |
| Business Acquisitions | — | — | — | — | — |
| Net Cash from Investing Activities | $-31.40B | $-31.17B | $-23.71B | $-21.06B | $-13.68B |
| Financing Activities | |||||
| Dividends Paid | $0 | $0 | $47.0M | $0 | $0 |
| Stock Repurchases | $4.85B | $3.69B | $1.78B | $0 | $0 |
| Net Cash from Financing Activities | $-8.30B | $-8.33B | $-4.23B | $-2.09B | $-857.0M |
| Net Change in Cash | $-2.20B | $-3.63B | $-1.80B | $-551.0M | $4.12B |
| Free Cash Flow | $23.91B | $25.82B | $16.62B | $12.01B | $11.30B |
In the short run, the market is a voting machine but in the long run, it is a weighing machine.