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

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	$86.8B 10.2%	$78.8B 7.3%	$73.4B 36.2%	$53.9B 48.8%	$36.2B
Short Term Investments	$36.2B 61.5%	$22.4B 67.4%	$13.4B -17.0%	$16.1B -73.0%	$59.8B
Accounts Receivable	$67.7B 22.1%	$55.5B 6.1%	$52.3B 23.4%	$42.4B 28.8%	$32.9B
Inventory	$38.3B 12.0%	$34.2B 2.7%	$33.3B -3.2%	$34.4B 5.4%	$32.6B
Total Current Assets	$229.1B 20.0%	$190.9B 10.7%	$172.4B 17.4%	$146.8B -9.2%	$161.6B
Property,Plant and Equipment	$357.0B 41.3%	$252.7B 23.7%	$204.2B 9.4%	$186.7B 16.5%	$160.3B
Operating Lease Assets	$86.1B 13.0%	$76.1B 5.0%	$72.5B 9.7%	$66.1B 17.9%	$56.1B
Goodwill	$23.3B 0.9%	$23.1B 1.3%	$22.8B 12.3%	$20.3B 32.0%	$15.4B
Other Noncurrent Assets	$122.6B 49.3%	$82.1B 46.6%	$56.0B 31.0%	$42.8B 57.0%	$27.2B
Total Assets	$818.0B 30.9%	$624.9B 18.4%	$527.9B 14.1%	$462.7B 10.0%	$420.5B
Liabilities
Accounts Payable	$121.9B 29.2%	$94.4B 11.0%	$85.0B 6.8%	$79.6B 1.2%	$78.7B
Accrued Liabilities	$75.5B 12.8%	$67.0B 3.5%	$64.7B 3.4%	$62.6B 20.8%	$51.8B
Deferred Revenue	$20.6B 13.7%	$18.1B 18.9%	$15.2B 15.1%	$13.2B 11.8%	$11.8B
Total Current Liabilities	$218.0B 21.5%	$179.4B 8.8%	$164.9B 6.1%	$155.4B 9.2%	$142.3B
Long Term Debt	$65.6B 24.8%	$52.6B -9.8%	$58.3B -13.2%	$67.2B 37.8%	$48.7B
Other Noncurrent Liabilities	$123.3B 15.4%	$106.9B 4.0%	$102.7B 9.2%	$94.1B 3.1%	$91.3B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$112.0M 0.9%	$111.0M 1.8%	$109.0M 0.9%	$108.0M 1.9%	$106.0M
Additional Paid In Capital	$140.0B 15.9%	$120.9B 22.1%	$99.0B 31.9%	$75.1B 35.4%	$55.4B
Retained Earnings	$250.5B 44.9%	$172.9B 52.1%	$113.6B 36.6%	$83.2B -3.2%	$85.9B
Treasury Stock	$7.8B 0.0%	$7.8B 0.0%	$7.8B 0.0%	$7.8B 326.6%	$1.8B
Accumulated Other Comprehensive Income	$28.2B 83129.4%	$-34.0M 98.9%	$-3.0B 32.2%	$-4.5B -226.1%	$-1.4B
Total Stockholders Equity	$411.1B 43.7%	$286.0B 41.7%	$201.9B 38.2%	$146.0B 5.6%	$138.2B
Total Liabilitiesand Equity	$818.0B 30.9%	$624.9B 18.4%	$527.9B 14.1%	$462.7B 10.0%	$420.5B

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	$716.9B 12.4%	$638.0B 11.0%	$574.8B 11.8%	$514.0B 9.4%	$469.8B
Expenses Cost of Revenue	$356.4B 9.2%	$326.3B 7.1%	$304.7B 5.5%	$288.8B 6.1%	$272.3B
Expenses Selling,General and Administrative	$58.3B 5.5%	$55.3B -1.6%	$56.2B 3.8%	$54.1B 30.8%	$41.4B
Expenses Other Operating Expenses	$222.2B 18.3%	$187.8B 6.1%	$177.0B 11.5%	$158.8B 21.0%	$131.2B
Other Income Expense Operating Income	$80.0B 16.6%	$68.6B 86.1%	$36.9B 200.9%	$12.2B -50.8%	$24.9B
Other Income Expense Interest Income	$4.4B -6.3%	$4.7B 58.6%	$2.9B 198.2%	$989.0M 120.8%	$448.0M
Other Income Expense Interest Expense	$2.3B -5.5%	$2.4B -24.4%	$3.2B 34.4%	$2.4B 30.8%	$1.8B
Other Income Expense Other Income/expense	$15.2B 776.8%	$-2.2B -339.9%	$938.0M 105.6%	$-16.8B -214.8%	$14.6B
Other Income Expense Income Before Tax	$97.3B 41.8%	$68.6B 82.7%	$37.6B 732.7%	$-5.9B -115.6%	$38.2B
Income Tax Income Tax Expense	$19.1B 106.0%	$9.3B 30.1%	$7.1B 321.3%	$-3.2B -167.1%	$4.8B
net Income Other Items Below Tax	$-554.0M -448.5%	$-101.0M -741.7%	$-12.0M -300.0%	$-3.0M -175.0%	$4.0M
net Income net Income	$77.7B 31.1%	$59.2B 94.7%	$30.4B 1217.7%	$-2.7B -108.2%	$33.4B
net Income Comprehensive Income	$105.9B 70.2%	$62.3B 95.3%	$31.9B 646.4%	$-5.8B -118.1%	$32.2B
Earnings Per Share Basic Eps	$7 28.8%	$6 91.9%	$3 1192.6%	$-0 -108.2%	$3
Earnings Per Share Diluted Eps	$7 29.7%	$6 90.7%	$3 1174.1%	$-0 -108.3%	$3
Earnings Per Share Weighted Average Shares Diluted	$10.8B 1.0%	$10.7B 2.2%	$10.5B 3.0%	$10.2B -1.0%	$10.3B

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	$77.7B 31.1%	$59.2B 94.7%	$30.4B 1217.7%	$-2.7B -108.2%	$33.4B
Operating Activities Depreciation and Amortization	$65.8B 24.5%	$52.8B 8.5%	$48.7B 16.1%	$41.9B 21.7%	$34.4B
Operating Activities Stock Based Compensation	$19.5B -11.6%	$22.0B -8.4%	$24.0B 22.4%	$19.6B 53.8%	$12.8B
Operating Activities Deferred Income Taxes	$11.5B 346.8%	$-4.6B 20.9%	$-5.9B 27.9%	$-8.1B -2528.4%	$-310.0M
Operating Activities Changes In Operating Assets and Liabilities	$-20.0B -28.5%	$-15.5B -34.7%	$-11.5B 44.7%	$-20.9B -6.5%	$-19.6B
Operating Activities Other Non Cash Items	$-14.9B -839.6%	$2.0B 369.0%	$-748.0M -104.4%	$17.0B 218.6%	$-14.3B
Operating Activities net Cash From Operating Activities	$139.5B 20.4%	$115.9B 36.4%	$84.9B 81.7%	$46.8B 0.9%	$46.3B
Investing Activities Capital Expenditures	$-131.8B -58.8%	$-83.0B -57.4%	$-52.7B 17.2%	$-63.6B -4.2%	$-61.1B
Investing Activities Business Acquisitions	$-3.8B 45.8%	$-7.1B -21.3%	$-5.8B 29.8%	$-8.3B -318.9%	$-2.0B
Investing Activities Purchases of Investments	$-54.8B -110.6%	$-26.0B -1647.6%	$-1.5B 42.0%	$-2.6B 95.7%	$-60.2B
Investing Activities Proceeds From Sale of Investments	$44.4B 170.6%	$16.4B 191.5%	$5.6B -82.2%	$31.6B -46.8%	$59.4B
Investing Activities Other Investing Activities	$3.5B -34.5%	$5.3B 16.2%	$4.6B -13.7%	$5.3B -5.9%	$5.7B
Investing Activities net Cash From Investing Activities	$-142.5B -51.1%	$-94.3B -89.3%	$-49.8B -32.5%	$-37.6B 35.3%	$-58.2B
Financing Activities Proceeds From Debt	$25.0B 386.1%	$5.1B -71.6%	$18.1B -71.1%	$62.7B 132.6%	$27.0B
Financing Activities Repayment of Debt	$-15.3B 9.6%	$-17.0B 50.1%	$-34.0B 27.6%	$-47.0B -127.4%	$-20.7B
Financing Activities net Cash From Financing Activities	$9.7B 181.8%	$-11.8B 25.6%	$-15.9B -263.4%	$9.7B 54.5%	$6.3B
Cash Reconciliation Effect of Exchange Rate On Cash	$1.2B 189.5%	$-1.3B -422.8%	$403.0M 136.9%	$-1.1B -200.3%	$-364.0M
Cash Reconciliation net Change In Cash	$7.8B -7.5%	$8.4B -57.1%	$19.6B 10.5%	$17.8B 401.3%	$-5.9B

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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