EBITDA Margin snapshot
Google's ebitda margin was 32.0% in FY2025, compared with 32.1% in FY2024. On a trailing-twelve-month basis it was 32.7% as of Q1 FY26. EBITDA margin is earnings before interest, taxes, depreciation, and amortization, divided by revenue. It approximates operating cash profitability by adding back non-cash depreciation and amortization to operating income.
EBITDA Margin (latest FY)
32.0%
EBITDA Margin (TTM)
32.7%
Operating margin (latest FY)
32.0%
Net margin (latest FY)
32.8%
Google EBITDA Margin
EBITDA ÷ revenue
EBITDA Margin vs. related metrics
Google EBITDA Margin — by fiscal year
| Fiscal year | EBITDA margin | Operating margin | Net margin |
|---|---|---|---|
| FY2025 | 32.0% | 32.0% | 32.8% |
| FY2024 | 32.1% | 32.1% | 28.6% |
| FY2023 | 27.4% | 27.4% | 24.0% |
| FY2022 | 26.5% | 26.5% | 21.2% |
| FY2021 | 30.6% | 30.6% | 29.5% |
| FY2020 | 22.6% | 22.6% | 22.1% |
| FY2019 | 21.1% | 21.1% | 21.2% |
| FY2018 | 20.1% | 20.1% | 22.5% |
| FY2017 | 23.6% | 23.6% | 11.4% |
| FY2016 | 26.3% | 26.3% | 21.6% |
| FY2015 | 25.8% | 25.8% | 21.8% |
| FY2014 | 25.0% | 25.0% | 21.4% |
| FY2013 | 27.7% | 27.7% | 22.9% |
| FY2012 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | EBITDA margin | Operating margin | Net margin |
|---|---|---|---|
| Q1 FY26 | 32.7% | 32.7% | 37.9% |
| Q4 FY25 | 32.0% | 32.0% | 32.8% |
| Q3 FY25 | 32.2% | 32.2% | 32.2% |
| Q2 FY25 | 32.7% | 32.7% | 31.1% |
| Q1 FY25 | 32.7% | 32.7% | 30.9% |
| Q4 FY24 | 31.4% | 31.4% | 28.0% |
| Q3 FY24 | 30.2% | 30.2% | 27.1% |
| Q2 FY24 | 29.1% | 29.1% | 26.1% |
| Q1 FY24 | 28.3% | 28.3% | 25.3% |
| Q4 FY23 | 27.4% | 27.4% | 24.0% |
| Q3 FY23 | 26.5% | 26.5% | 22.5% |
| Q2 FY23 | 25.7% | 25.7% | 21.1% |
Figures normalized from SEC filings. See the full Google ratios & metrics.