Alphabet (GOOG) 2025 Valuation Model and Risk Framework

Thesis, Operating Model, Traditional Comps/DCF Valuation, and SOTP Model (Search, Youtube, Cloud, Hardware/Other, Waymo) included, along with 2Q25 earnings recap, analysis, and discussion.
 
Earnings: 2Q Earnings Recap Included.
 
Long Term Risks: anti-trust risk (end of August), capital allocation (rising capex), AI competition
 
Overall SSR Risk Ranking: 3 out of 5 (Low-Moderate)
 
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