After a four-year rocket ride following its spectacular 2004 IPO, Google’s stock took a multi-year breather.
From 2007 to the middle of 2012, as the company’s hyper-growth slowed, Google’s stock multiple compressed.
But Google the company kept growing.
And Google the cash factory kept coining more and more money.
And now, with Google’s stock having settled into a reasonable price-earnings ratio–24X trailing earnings–the stock is on the move again.
Today, Google’s stock jumped $20 to a new all-time high of $776 a share.
The little search project that began in Sergey Brin and Larry Page’s dorm rooms at Stanford in the late 1990s is now a global behemoth with 50,000+ employees and $50+ billion of revenue.
And it’s valued at $255 billion.