Amazon

Consumer Discretionary Broadline Retail Seattle, Washington Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2025
                
$716.9B
                    3y CAGR +11.7%
                    
                    P80
                    
                    +12.4%
                    
                    Net income
                    FY2025
                
$77.7B
                    Net margin +10.8%
                    
                    P64
                    
                    +31.1%
                    
                    Total assets
                    FY2025
                
$818.0B
                    ROA +9.5%
                    
                    P50
                    
                    +30.9%
                    
                    Operating cash flow
                    FY2025
                
$139.5B
                    
                    +20.4%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 10 years

Total assets $818.0B

Total liabilities $218.0B

Shareholders equity $411.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	11.0%	13.2%	14.0%	11.7%	8.7%	13.2%	16.2%	19.8%	16.6%	23.9%
Accounts Receivable	8.3%	8.9%	9.9%	9.2%	7.8%	7.6%	9.2%	10.3%	10.0%	10.0%
Inventory	4.7%	5.5%	6.3%	7.4%	7.8%	7.4%	9.1%	10.6%	12.2%	13.7%
Prepaid Expenses	0.8%	1.0%	1.0%	—	—	—	—	—	—	—
Other Current Assets	0.8%	1.0%	1.0%	0.2%	0.2%	0.3%	0.3%	0.3%	0.3%	0.0%
Total Current Assets	28.0%	30.5%	32.7%	31.7%	38.4%	41.3%	42.8%	46.2%	45.8%	54.9%
Property,Plant and Equipment	43.6%	40.4%	38.7%	40.4%	38.1%	35.2%	32.3%	38.0%	37.2%	34.9%
Operating Lease Assets	10.5%	12.2%	13.7%	14.3%	13.3%	11.7%	11.2%	—	—	—
Goodwill	2.8%	3.7%	4.3%	4.4%	3.7%	4.7%	6.6%	8.9%	10.2%	4.5%
Intangible Assets	0.0%	1.4%	1.5%	1.3%	1.2%	1.6%	1.8%	2.5%	2.6%	1.3%
Long Term Investments	0.1%	0.2%	—	—	—	—	—	—	—	—
Other Noncurrent Assets	15.0%	13.1%	10.6%	9.2%	6.5%	7.1%	7.2%	6.9%	6.8%	5.7%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	14.9%	15.1%	16.1%	17.2%	18.7%	22.6%	20.9%	23.5%	26.4%	30.3%
Accrued Liabilities	9.2%	10.7%	12.3%	13.5%	12.3%	13.7%	14.4%	0.0%	0.0%	16.5%
Deferred Revenue	2.5%	2.9%	2.9%	2.9%	2.8%	3.0%	3.6%	4.0%	3.9%	5.7%
Current Portion of Long Term Debt	0.3%	0.8%	1.6%	0.6%	0.4%	0.4%	0.6%	0.8%	0.1%	1.3%
Operating Lease Liabilities	1.5%	1.7%	1.6%	1.6%	1.5%	1.4%	1.4%	—	—	—
Other Current Liabilities	4.4%	4.6%	4.8%	4.6%	5.6%	5.3%	5.4%	16.7%	16.0%	15.1%
Total Current Liabilities	26.6%	28.7%	31.2%	33.6%	33.8%	39.3%	39.0%	42.0%	44.1%	52.5%
Long Term Debt	8.0%	8.4%	11.0%	14.5%	11.6%	9.9%	10.4%	14.4%	18.8%	9.2%
Deferred Revenue Noncurrent	0.5%	1.0%	1.1%	0.6%	0.5%	0.6%	0.9%	0.9%	0.8%	0.6%
Operating Lease Liabilities Noncurrent	9.4%	11.0%	12.7%	13.3%	12.4%	10.7%	10.1%	—	—	—
Deferred Tax Liabilities	0.0%	3.1%	2.6%	2.1%	0.1%	0.3%	0.6%	0.3%	0.8%	0.5%
Other Noncurrent Liabilities	4.4%	4.6%	4.8%	4.6%	5.6%	5.3%	5.4%	16.7%	16.0%	15.1%
Total Liabilities	26.6%	28.7%	31.2%	33.6%	33.8%	39.3%	39.0%	42.0%	44.1%	52.5%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	17.1%	19.3%	18.8%	16.2%	13.2%	13.3%	14.9%	16.5%	16.3%	20.6%
Retained Earnings	30.6%	27.7%	21.5%	18.0%	20.4%	16.4%	13.9%	12.1%	6.6%	5.9%
Treasury Stock	1.0%	1.3%	1.5%	1.7%	0.4%	0.6%	0.8%	1.1%	1.4%	2.2%
Accumulated Other Comprehensive Income	3.5%	-0.0%	-0.6%	-1.0%	-0.3%	-0.1%	-0.4%	-0.6%	-0.4%	-1.2%
Total Stockholders Equity	50.2%	45.8%	38.2%	31.6%	32.9%	29.1%	27.6%	26.8%	21.1%	23.1%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $716.9B

Operating income $80.0B

Net income $77.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	87.6%	102.1%	108.9%	111.1%	111.7%	120.2%	124.5%	143.2%	135.5%	163.1%
Expenses Cost of Revenue	43.6%	52.2%	57.7%	62.4%	64.8%	72.6%	73.5%	85.6%	85.2%	105.8%
Expenses Selling,General and Administrative	1.4%	1.8%	2.2%	2.6%	2.1%	2.1%	2.3%	2.7%	2.8%	2.9%
Expenses Depreciation and Amortization	8.0%	8.4%	9.2%	9.1%	8.2%	7.8%	9.7%	9.4%	8.7%	9.7%
Expenses Share Based Compensation	2.4%	3.5%	4.6%	4.2%	3.0%	2.9%	3.0%	3.3%	3.2%	3.6%
Expenses Operating Expenses	77.9%	91.1%	101.9%	108.4%	105.8%	113.1%	118.1%	135.5%	132.3%	158.0%
Other Income Expense Operating Income	9.8%	11.0%	7.0%	2.6%	5.9%	7.1%	6.5%	7.6%	3.1%	5.0%
Other Income Expense Interest Income	0.5%	0.7%	0.6%	0.2%	0.1%	0.2%	0.4%	0.3%	0.2%	0.1%
Other Income Expense Interest Expense	0.0%	0.0%	0.6%	0.5%	0.4%	0.5%	0.7%	0.9%	0.6%	0.6%
Other Income Expense Other Income/expense	1.9%	-0.4%	0.2%	-3.6%	3.5%	0.7%	0.1%	-0.1%	0.3%	0.1%
Other Income Expense Income Before Tax	11.9%	11.0%	7.1%	-1.3%	9.1%	7.5%	6.2%	6.9%	2.9%	4.7%
Income Tax Income Tax Expense	2.3%	1.5%	1.3%	-0.7%	1.1%	0.9%	1.1%	0.7%	0.6%	1.7%
net Income net Income	9.5%	9.5%	5.8%	-0.6%	7.9%	6.6%	5.1%	6.2%	2.3%	2.8%
net Income Comprehensive Income	12.9%	10.0%	6.0%	-1.3%	7.6%	6.9%	5.2%	5.9%	2.7%	2.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.3%	1.7%	2.0%	2.2%	2.4%	3.1%	0.2%	0.3%	0.4%	0.6%
Earnings Per Share Weighted Average Shares Diluted	1.3%	1.7%	2.0%	2.2%	2.4%	3.2%	0.2%	0.3%	0.4%	0.6%

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 10 years

Operating cash flow $139.5B

Investing cash flow $-142.5B

Financing cash flow $9.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	9.5%	9.5%	5.8%	-0.6%	7.9%	6.6%	5.1%	6.2%	2.3%	2.8%
Operating Activities Depreciation and Amortization	8.0%	8.4%	9.2%	9.1%	8.2%	7.8%	9.7%	9.4%	8.7%	9.7%
Operating Activities Stock Based Compensation	2.4%	3.5%	4.6%	4.2%	3.0%	2.9%	3.0%	3.3%	3.2%	3.6%
Operating Activities Deferred Income Taxes	1.4%	-0.7%	-1.1%	-1.8%	-0.1%	-0.2%	0.4%	0.3%	-0.0%	-0.3%
Operating Activities Changes In Operating Assets and Liabilities	1.7%	1.4%	1.6%	1.7%	3.7%	6.7%	5.9%	3.5%	9.3%	12.4%
Operating Activities net Cash From Operating Activities	17.1%	18.5%	16.1%	10.1%	11.0%	20.6%	17.1%	18.9%	14.0%	20.6%
Investing Activities Purchases of Investments	6.7%	4.2%	0.3%	0.6%	14.3%	22.6%	14.1%	4.4%	9.7%	8.7%
Investing Activities Proceeds From Sale of Investments	5.4%	2.6%	1.1%	6.8%	14.1%	15.6%	10.1%	5.1%	7.4%	5.5%
Investing Activities net Cash From Investing Activities	-17.4%	-15.1%	-9.4%	-8.1%	-13.8%	-18.6%	-10.8%	-7.6%	-20.6%	-11.4%
Financing Activities Proceeds From Debt	1.9%	0.0%	0.0%	4.6%	4.5%	3.3%	0.4%	0.1%	12.4%	0.7%
Financing Activities Repayment of Debt	0.6%	1.5%	0.7%	0.3%	0.4%	0.5%	0.5%	0.1%	1.0%	0.4%
Financing Activities net Cash From Financing Activities	1.2%	-1.9%	-3.0%	2.1%	1.5%	-0.3%	-4.5%	-4.7%	7.6%	-4.5%
Cash Reconciliation Effect of Exchange Rate On Cash	11.0%	13.2%	14.0%	11.7%	-0.1%	0.2%	0.0%	-0.2%	0.5%	-0.3%
Cash Reconciliation net Change In Cash	1.0%	1.3%	3.7%	3.8%	-1.4%	1.9%	1.9%	6.3%	1.5%	4.5%
Cash Reconciliation Cash At Beginning of Period	11.0%	13.2%	14.0%	11.7%	8.7%	13.2%	16.2%	19.8%	16.6%	23.9%
Cash Reconciliation Cash At End of Period	11.0%	13.2%	14.0%	11.7%	8.7%	13.2%	16.2%	19.8%	16.6%	23.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+50.3%	+48.9%	+47.0%	+43.8%	+42.0%	+39.6%	+41.0%	+40.2%	+37.1%	+35.1%
Operating margin	+11.2%	+10.8%	+6.4%	+2.4%	+5.3%	+5.9%	+5.2%	+5.3%	+2.3%	+3.1%
Net margin	+10.8%	+9.3%	+5.3%	-0.5%	+7.1%	+5.5%	+4.1%	+4.3%	+1.7%	+1.7%
FCF margin	—	—	—	—	—	—	—	—	—	+7.7%
Growth
Revenue CAGR (3y)	+11.7%	+10.7%	+14.2%	+22.4%	+26.4%	+29.5%	+27.3%	+29.6%	+26.0%	+22.2%
Returns
ROE	+18.9%	+20.7%	+15.1%	-1.9%	+24.1%	+22.8%	+18.7%	+23.1%	+10.9%	+12.3%
ROA	+9.5%	+9.5%	+5.8%	-0.6%	+7.9%	+6.6%	+5.1%	+6.2%	+2.3%	+2.8%
ROIC	+16.5%	+22.7%	+15.3%	+7.6%	+14.3%	+24.0%	+24.0%	+30.6%	+10.7%	+32.8%
Liquidity
Current ratio	1.05x	1.06x	1.05x	0.94x	1.14x	1.05x	1.10x	1.10x	1.04x	1.04x
Quick ratio	0.72x	0.77x	0.76x	0.62x	0.49x	0.53x	0.65x	0.71x	0.61x	0.65x
Leverage
D/E	0.53x	0.63x	0.82x	1.06x	1.03x	1.35x	1.41x	1.57x	2.09x	2.27x
Interest coverage	256.33x	240.68x	11.58x	5.17x	13.75x	13.90x	9.09x	8.77x	4.84x	8.65x
Efficiency
Asset turnover	0.88x	1.02x	1.09x	1.11x	1.12x	1.20x	1.25x	1.43x	1.35x	1.63x
Cash conversion cycle	-51d	-36d	-29d	-27d	-36d	-53d	-32d	-29d	-34d	-35d

Valuation

Price against fundamentals

AMZN $222 · 2025-09-29 · 351d old · FY2025

Market cap $2.4T

P/E 30.97x

P/S 3.36x

P/B 5.85x

EV $2.4T

EV/EBITDA 16.36x

FCF yield —

Dividend yield —

Notes

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