Alphabet (GOOGL) Stock Inflation-Adjusted

Alphabet Inc. (GOOGL) is a multinational technology conglomerate, best known for its Google search engine, advertising services and diverse ventures in areas like cloud computing and autonomous driving.

A stock's price history shows its nominal performance but not its real growth in purchasing power. To understand an investment's true performance, we must account for inflation. This page adjusts Alphabet's historical stock prices using the US Consumer Price Index, stripping away the effects of inflation.

The charts and data below allow you to compare the nominal price with its real value over time, revealing a clearer picture of Alphabet's long-term growth.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use June 2025 as the baseline (latest available CPI).

The current value of Alphabet (Class A) stock is 182 (as of the close of Jul 15, 2025), 11.6% lower than the all-time high of 205.88 (Feb 4, 2025).

Since August 19, 2004, the inflation-adjusted total return for the stock has been 4,184%, which is equivalent to an annual growth rate of 19.69%.

In nominal values, the total return since this date has been 7,192%, or an annualized rate of 22.78%.

Inflation-Adjusted Values by Month

This data presents Alphabet's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power (based on the latest CPI data). The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date	Inflation-Adjusted	Nominal value
Jul 2025	182	182
Jun 2025	176.23	176.23
May 2025	172.1	171.52
Apr 2025	159.47	158.59
Mar 2025	155.77	154.44
Feb 2025	171.72	169.86
Jan 2025	206.65	203.52
Dec 2024	193	188.84
Nov 2024	172.12	168.34
Oct 2024	174.22	170.5
Sep 2024	169.06	165.26
Aug 2024	166.59	162.58
Jul 2024	175.05	170.7
Jun 2024	186.1	181.26
May 2024	176.09	171.46
Apr 2024	166.45	161.8
Mar 2024	154.93	150.02
Feb 2024	143.05	137.62
Jan 2024	145.64	139.25
Dec 2023	146	138.85
Nov 2023	138.38	131.73
Oct 2023	129.3	123.33
Sep 2023	136.31	130.07
Aug 2023	142.2	135.35
Jul 2023	139.2	131.92
Jun 2023	125.78	118.98
May 2023	129.53	122.13
Apr 2023	113.44	106.69
Mar 2023	110.18	103.1
Feb 2023	95.98	89.52
Jan 2023	105.92	98.24
Dec 2022	95.31	87.7
Nov 2022	108.76	100.38
Oct 2022	101.68	93.94
Sep 2022	103.32	95.07
Aug 2022	117.15	107.57
Jul 2022	125.87	115.62
Jun 2022	117.9	108.3
May 2022	124.78	113.07
Apr 2022	126.54	113.42
Mar 2022	155.08	138.23
Feb 2022	152.62	134.24
Jan 2022	154.3	134.49
Dec 2021	166.57	143.98
Nov 2021	163.68	141.04
Oct 2021	171.61	147.15
Sep 2021	156.24	132.87
Aug 2021	169.58	143.82
Jul 2021	158.22	133.91
Jun 2021	144.07	121.35
May 2021	140.35	117.13
Apr 2021	141.27	116.96
Mar 2021	124.83	102.5
Feb 2021	123.23	100.48
Jan 2021	111.99	90.82
Dec 2020	107.86	87.1
Nov 2020	108.07	87.19
Oct 2020	99.49	80.32
Sep 2020	90.27	72.84
Aug 2020	100.5	80.98
Jul 2020	92.06	73.95
Jun 2020	88.18	70.47
May 2020	89.63	71.24
Apr 2020	84.2	66.93
Mar 2020	72.16	57.75
Feb 2020	82.99	66.56
Jan 2020	89.03	71.21
Dec 2019	83.55	66.56
Nov 2019	81.28	64.81
Oct 2019	78.41	62.56
Sep 2019	76.24	60.69
Aug 2019	74.39	59.17
Jul 2019	76.11	60.54
Jun 2019	67.77	53.81
May 2019	69.26	54.99
Apr 2019	75.21	59.59
Mar 2019	74.22	58.49
Feb 2019	71.44	55.99
Jan 2019	71.7	55.95
Dec 2018	66.68	51.93
Nov 2018	70.58	55.15
Oct 2018	69.13	54.2
Sep 2018	76.65	59.99
Aug 2018	78.31	61.22
Jul 2018	78.07	60.99
Jun 2018	71.83	56.12
May 2018	70.09	54.67
Apr 2018	65.17	50.62
Mar 2018	66.62	51.54
Feb 2018	71.07	54.86
Jan 2018	76.46	58.75
Dec 2017	68.5	52.35
Nov 2017	67.34	51.5
Oct 2017	67.14	51.34
Sep 2017	63.24	48.39
Aug 2017	62.37	47.47
Jul 2017	61.92	46.99
Jun 2017	60.84	46.2
May 2017	64.66	49.06
Apr 2017	60.61	45.95
Mar 2017	55.75	42.13
Feb 2017	55.6	41.99
Jan 2017	54.14	40.76
Dec 2016	52.62	39.38
Nov 2016	51.53	38.56
Oct 2016	53.71	40.25
Sep 2016	53.39	39.96
Aug 2016	52.57	39.25
Jul 2016	52.72	39.33
Jun 2016	46.79	34.96
May 2016	49.97	37.22
Apr 2016	47.43	35.18
Mar 2016	51.36	37.91
Feb 2016	48.49	35.64
Jan 2016	51.52	37.84
Dec 2015	52.73	38.67
Nov 2015	51.53	37.91
Oct 2015	49.7	36.65
Sep 2015	43.01	31.73
Aug 2015	43.58	32.2
Jul 2015	44.16	32.68
Jun 2015	36.28	26.84
May 2015	36.76	27.1
Apr 2015	37.18	27.27
Mar 2015	37.66	27.57
Feb 2015	38.43	27.96
Jan 2015	36.87	26.72
Dec 2014	36.23	26.37
Nov 2014	37.27	27.29
Oct 2014	38.34	28.22
Sep 2014	39.63	29.24
Aug 2014	39.25	28.94
Jul 2014	38.99	28.8
Jun 2014	39.32	29.06
May 2014	38.52	28.41
Apr 2014	36.17	26.58
Mar 2014	37.84	27.72
Feb 2014	41.54	30.24
Jan 2014	40.51	29.38
Dec 2013	38.58	27.88
Nov 2013	36.48	26.36
Oct 2013	35.4	25.63
Sep 2013	30.01	21.79
Aug 2013	29.05	21.07
Jul 2013	30.49	22.08
Jun 2013	30.25	21.9
May 2013	30.01	21.67
Apr 2013	28.45	20.51
Mar 2013	27.37	19.75
Feb 2013	27.69	19.93
Jan 2013	26.33	18.8
Dec 2012	24.72	17.6
Nov 2012	24.34	17.37
Oct 2012	23.6	16.92
Sep 2012	26.16	18.77
Aug 2012	23.86	17.04
Jul 2012	22.17	15.74
Jun 2012	20.28	14.43
May 2012	20.28	14.45
Apr 2012	21.09	15.04
Mar 2012	22.43	15.95
Feb 2012	21.79	15.38
Jan 2012	20.53	14.43
Dec 2011	22.96	16.07
Nov 2011	21.26	14.91
Oct 2011	21	14.74
Sep 2011	18.21	12.81
Aug 2011	19.16	13.46
Jul 2011	21.44	15.02
Jun 2011	18	12.6
May 2011	18.78	13.16
Apr 2011	19.41	13.53
Mar 2011	21.07	14.59
Feb 2011	22.24	15.26
Jan 2011	21.87	14.93
Dec 2010	21.74	14.77
Nov 2010	20.38	13.82
Oct 2010	22.51	15.27
Sep 2010	19.31	13.08
Aug 2010	16.54	11.19
Jul 2010	17.84	12.06
Jun 2010	16.38	11.07
May 2010	17.86	12.08
Apr 2010	19.35	13.08
Mar 2010	20.91	14.11
Feb 2010	19.5	13.1
Jan 2010	19.62	13.18
Dec 2009	23.03	15.42
Nov 2009	21.62	14.5
Oct 2009	19.9	13.34
Sep 2009	18.42	12.33
Aug 2009	17.16	11.48
Jul 2009	16.51	11.02
Jun 2009	15.68	10.49
May 2009	15.65	10.38
Apr 2009	14.9	9.85
Mar 2009	13.13	8.66
Feb 2009	12.78	8.41
Jan 2009	12.86	8.42
Dec 2008	11.74	7.65
Nov 2008	11.07	7.29
Oct 2008	13.31	8.94
Sep 2008	14.69	9.96
Aug 2008	16.97	11.52
Jul 2008	17.28	11.78
Jun 2008	19.3	13.09
May 2008	21.7	14.57
Apr 2008	21.45	14.28
Mar 2008	16.55	10.96
Feb 2008	17.86	11.72
Jan 2008	21.45	14.04
Dec 2007	26.41	17.2
Nov 2007	26.45	17.24
Oct 2007	27.15	17.59
Sep 2007	21.83	14.11
Aug 2007	19.88	12.82
Jul 2007	19.64	12.69
Jun 2007	20.13	13
May 2007	19.21	12.38
Apr 2007	18.3	11.73
Mar 2007	17.9	11.4
Feb 2007	17.72	11.18
Jan 2007	19.88	12.47
Dec 2006	18.31	11.45
Nov 2006	19.3	12.06
Oct 2006	18.94	11.85
Sep 2006	15.89	10
Aug 2006	14.89	9.42
Jul 2006	15.24	9.62
Jun 2006	16.58	10.43
May 2006	14.73	9.25
Apr 2006	16.64	10.4
Mar 2006	15.66	9.7
Feb 2006	14.64	9.02
Jan 2006	17.51	10.76
Dec 2005	16.91	10.32
Nov 2005	16.44	10.07
Oct 2005	14.99	9.26
Sep 2005	12.77	7.87
Aug 2005	11.68	7.11
Jul 2005	11.82	7.16
Jun 2005	12.13	7.32
May 2005	11.44	6.9
Apr 2005	9.07	5.47
Mar 2005	7.49	4.49
Feb 2005	7.86	4.68
Jan 2005	8.23	4.87
Dec 2004	8.13	4.8
Nov 2004	7.64	4.53
Oct 2004	8.01	4.74
Sep 2004	5.48	3.22
Aug 2004	4.33	2.55

Returns from Investing in Alphabet (Class A) stock

How much did an investment in Alphabet really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for Alphabet (Class A) stock by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the stock price nominally increased, as in 2016.

Year	Inflation-Adjusted Return	Nominal Return
2024	32.19%	36.01%
2023	53.19%	58.32%
2022	-42.78%	-39.09%
2021	54.43%	65.3%
2020	29.1%	30.85%
2019	25.31%	28.18%
2018	-2.66%	-0.8%
2017	30.18%	32.93%
2016	-0.21%	1.86%
2015	45.55%	46.61%
2014	-6.1%	-5.39%
2013	56.09%	58.43%
2012	7.64%	9.52%
2011	5.61%	8.74%
2010	-5.61%	-4.2%
2009	96.18%	101.52%
2008	-55.55%	-55.51%
2007	44.28%	50.17%
2006	8.25%	11%
2005	108.08%	115.19%

Alphabet (Class A) Stock: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for Alphabet over various trailing periods ending June 30, 2025, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	-5.3%	-2.77%
Last 3 years	14.34%	17.62%
Last 5 years	14.85%	20.12%
Last 10 years	17.12%	20.71%
Last 20 years	14.32%	17.24%

Real Returns of Investing in the Alphabet

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in June 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the Alphabet five years ago yielded an 164.78% nominal gain, but the real return (the actual increase in buying power) was 112.34%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period	What $100 Grew To (Nominal)	Total Nominal Return (%)	Total Inflation-Adjusted Return (%)
Last 5 years Feb 2020 - Jun 2025	$264.78	164.78%	112.34%
Last 10 years Feb 2015 - Jun 2025	$630.26	530.26%	358.63%

Inflation & Alphabet's Operations

As a technology-focused company, Alphabet faces several inflation-related operational considerations.

Talent Acquisition & Retention: Wage inflation for skilled engineers and tech professionals can increase labor costs, a significant expense for Alphabet.
Energy Costs: The operation of large-scale data centers for Google Search, Cloud and AI services consumes substantial energy, making it sensitive to energy price inflation.
Supply Chain Costs: Inflation can lead to increased costs for components and raw materials used in Alphabet's hardware products, such as Pixel phones and Nest devices. Additionally, innovative projects like Waymo (autonomous driving) and Verily (life sciences) often require specialized equipment and materials, which are also subject to inflationary pressures, further impacting profit margins.
Advertising Revenue: As a major player in digital advertising, Alphabet's revenue can be affected by inflation. Higher costs for advertisers may lead to reduced ad spending, impacting Alphabet's top line.

While these inflationary pressures present challenges, Alphabet is well-positioned to navigate them. The company's robust financial position, characterized by substantial cash reserves and manageable debt, allows it to absorb rising costs without derailing long-term growth initiatives.

This financial strength is complemented by a diverse set of revenue streams, spanning digital advertising, cloud computing and hardware. This creates a resilient business model where weakness in one segment can be offset by strength in another, providing a reliable buffer.

About Alphabet

Alphabet Inc. is a global technology leader created in 2015 as the parent company of Google and several other companies previously owned by or tied to Google.

Its largest subsidiary, Google, provides a wide array of internet-related services and products, including search, advertising, cloud computing, software and hardware. Other segments, often referred to as "Other Bets," include innovative projects in areas like autonomous driving (Waymo) and life sciences (Verily).

Headquartered in Mountain View, California, Alphabet is one of the most valuable companies globally and a key player in shaping the future of technology. Its Class A shares (GOOGL) are major components of indices like the S&P 500 and Nasdaq-100.

Last Close Jul 15, 2025	182
Highest Feb 4, 2025	205.88
Highest, Inflation-Adjusted Feb 4, 2025	208.12
Annualized return Since Aug 19, 2004	22.78%
Annualized return, Inflation-Adjusted Since Aug 19, 2004	19.69%