Amazon

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

                    Revenue
                    FY2025
                
$716.9B
                    3y CAGR +11.7%
                    
                    P82
                    
                    +12.4%
                    
                    Net income
                    FY2025
                
$77.7B
                    Net margin +10.8%
                    
                    P69
                    
                    +31.1%
                    
                    Total assets
                    FY2025
                
$818.0B
                    ROA +9.5%
                    
                    P55
                    
                    +30.9%
                    
                    Operating cash flow
                    FY2025
                
$139.5B
                    FCF margin +1.1%
                    
                    P7
                    
                    +20.4%

19 yrs · FY2007–FY2025 8 filed · 1 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

24 accounts · 5 years

Total assets $818.0B

Total liabilities ~$407.0B

Shareholders equity $411.1B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	10.6%	12.6%	13.9%	11.6%	8.6%
Short Term Investments	4.4%	3.6%	2.5%	3.5%	14.2%
Accounts Receivable	8.3%	8.9%	9.9%	9.2%	7.8%
Inventory	4.7%	5.5%	6.3%	7.4%	7.8%
Total Current Assets	28.0%	30.5%	32.7%	31.7%	38.4%
Property,Plant and Equipment	43.6%	40.4%	38.7%	40.4%	38.1%
Operating Lease Assets	10.5%	12.2%	13.7%	14.3%	13.3%
Goodwill	2.8%	3.7%	4.3%	4.4%	3.7%
Other Noncurrent Assets	15.0%	13.1%	10.6%	9.2%	6.5%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	14.9%	15.1%	16.1%	17.2%	18.7%
Accrued Liabilities	9.2%	10.7%	12.3%	13.5%	12.3%
Deferred Revenue	2.5%	2.9%	2.9%	2.9%	2.8%
Total Current Liabilities	26.6%	28.7%	31.2%	33.6%	33.8%
Long Term Debt	8.0%	8.4%	11.0%	14.5%	11.6%
Other Noncurrent Liabilities	15.1%	17.1%	19.5%	20.3%	21.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	17.1%	19.3%	18.8%	16.2%	13.2%
Retained Earnings	30.6%	27.7%	21.5%	18.0%	20.4%
Treasury Stock	1.0%	1.3%	1.5%	1.7%	0.4%
Accumulated Other Comprehensive Income	3.5%	-0.0%	-0.6%	-1.0%	-0.3%
Total Stockholders Equity	50.2%	45.8%	38.2%	31.6%	32.9%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $716.9B

Operating income $80.0B

Net income $77.7B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	87.6%	102.1%	108.9%	111.1%	111.7%
Expenses Cost of Revenue	43.6%	52.2%	57.7%	62.4%	64.8%
Expenses Selling,General and Administrative	7.1%	8.8%	10.6%	11.7%	9.8%
Expenses Other Operating Expenses	27.2%	30.1%	33.5%	34.3%	31.2%
Other Income Expense Operating Income	9.8%	11.0%	7.0%	2.6%	5.9%
Other Income Expense Interest Income	0.5%	0.7%	0.6%	0.2%	0.1%
Other Income Expense Interest Expense	0.3%	0.4%	0.6%	0.5%	0.4%
Other Income Expense Other Income/expense	1.9%	-0.4%	0.2%	-3.6%	3.5%
Other Income Expense Income Before Tax	11.9%	11.0%	7.1%	-1.3%	9.1%
Income Tax Income Tax Expense	2.3%	1.5%	1.3%	-0.7%	1.1%
net Income Other Items Below Tax	-0.1%	-0.0%	-0.0%	-0.0%	0.0%
net Income net Income	9.5%	9.5%	5.8%	-0.6%	7.9%
net Income Comprehensive Income	12.9%	10.0%	6.0%	-1.3%	7.6%
Earnings Per Share Basic Eps	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%
Earnings Per Share Weighted Average Shares Diluted	1.3%	1.7%	2.0%	2.2%	2.4%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 5 years

Operating cash flow $139.5B

Investing cash flow $-142.5B

Financing cash flow $9.7B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	9.5%	9.5%	5.8%	-0.6%	7.9%
Operating Activities Depreciation and Amortization	8.0%	8.4%	9.2%	9.1%	8.2%
Operating Activities Stock Based Compensation	2.4%	3.5%	4.6%	4.2%	3.0%
Operating Activities Deferred Income Taxes	1.4%	-0.7%	-1.1%	-1.8%	-0.1%
Operating Activities Changes In Operating Assets and Liabilities	-2.4%	-2.5%	-2.2%	-4.5%	-4.7%
Operating Activities Other Non Cash Items	-1.8%	0.3%	-0.1%	3.7%	-3.4%
Operating Activities net Cash From Operating Activities	17.1%	18.5%	16.1%	10.1%	11.0%
Investing Activities Capital Expenditures	-16.1%	-13.3%	-10.0%	-13.8%	-14.5%
Investing Activities Business Acquisitions	-0.5%	-1.1%	-1.1%	-1.8%	-0.5%
Investing Activities Purchases of Investments	-6.7%	-4.2%	-0.3%	-0.6%	-14.3%
Investing Activities Proceeds From Sale of Investments	5.4%	2.6%	1.1%	6.8%	14.1%
Investing Activities Other Investing Activities	0.4%	0.9%	0.9%	1.2%	1.3%
Investing Activities net Cash From Investing Activities	-17.4%	-15.1%	-9.4%	-8.1%	-13.8%
Financing Activities Proceeds From Debt	3.1%	0.8%	3.4%	13.6%	6.4%
Financing Activities Repayment of Debt	-1.9%	-2.7%	-6.4%	-10.2%	-4.9%
Financing Activities net Cash From Financing Activities	1.2%	-1.9%	-3.0%	2.1%	1.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.2%	0.1%	-0.2%	-0.1%
Cash Reconciliation net Change In Cash	1.0%	1.3%	3.7%	3.8%	-1.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+50.3%	+48.9%	+47.0%	+43.8%	+42.0%
Operating margin	+11.2%	+10.8%	+6.4%	+2.4%	+5.3%
Net margin	+10.8%	+9.3%	+5.3%	-0.5%	+7.1%
FCF margin	+1.1%	+5.2%	+5.6%	-3.3%	-3.1%
Growth
Revenue CAGR (3y)	+11.7%	+10.7%	+14.2%	+22.4%	+26.4%
Returns
ROE	+18.9%	+20.7%	+15.1%	-1.9%	+24.1%
ROA	+9.5%	+9.5%	+5.8%	-0.6%	+7.9%
ROIC	+16.5%	+22.8%	+16.0%	+7.7%	+14.4%
Liquidity
Current ratio	1.05x	1.06x	1.05x	0.94x	1.14x
Quick ratio	0.71x	0.75x	0.76x	0.62x	0.49x
Leverage
D/E	0.99x	1.19x	1.61x	2.17x	2.04x
Interest coverage	35.17x	28.51x	11.58x	5.17x	13.75x
Efficiency
Asset turnover	0.88x	1.02x	1.09x	1.11x	1.12x
Cash conversion cycle	-51d	-36d	-29d	-27d	-36d

Valuation

Price against fundamentals

AMZN $222 · 2025-09-29 · 397d old · FY2025

Market cap $2.4T

P/E 30.97x

P/S 3.36x

P/B 5.85x

EV $2.4T

EV/EBITDA —

FCF yield +0.3%

Dividend yield —

Notes

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