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 revenue.

Balance Sheet

Assets, liabilities, and equity

24 accounts · 10 years

Total assets $818.0B

Total liabilities ~$407.0B

Shareholders equity $411.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	12.1%	12.3%	12.8%	10.5%	7.7%	10.9%	12.9%	13.6%	11.5%	14.2%
Short Term Investments	5.1%	3.5%	2.3%	3.1%	12.7%	10.9%	6.7%	4.1%	5.9%	4.9%
Accounts Receivable	9.4%	8.7%	9.1%	8.2%	7.0%	6.4%	7.4%	7.2%	7.4%	6.1%
Inventory	5.3%	5.4%	5.8%	6.7%	6.9%	6.2%	7.3%	7.4%	9.0%	8.4%
Total Current Assets	32.0%	29.9%	30.0%	28.6%	34.4%	34.4%	34.3%	32.2%	33.8%	33.7%
Property,Plant and Equipment	49.8%	39.6%	35.5%	36.3%	34.1%	29.3%	25.9%	26.5%	27.5%	21.4%
Operating Lease Assets	12.0%	11.9%	12.6%	12.9%	11.9%	9.7%	9.0%	0.0%	—	—
Goodwill	3.2%	3.6%	4.0%	3.9%	3.3%	3.9%	5.3%	6.2%	7.5%	2.8%
Other Noncurrent Assets	17.1%	12.9%	9.7%	8.3%	5.8%	5.9%	5.8%	4.8%	5.0%	3.5%
Total Assets	114.1%	98.0%	91.8%	90.0%	89.5%	83.2%	80.3%	69.8%	73.8%	61.3%
Liabilities
Accounts Payable	17.0%	14.8%	14.8%	15.5%	16.7%	18.8%	16.8%	16.4%	19.5%	18.6%
Accrued Liabilities	10.5%	10.5%	11.3%	12.2%	11.0%	11.4%	11.6%	10.2%	10.2%	10.1%
Deferred Revenue	2.9%	2.8%	2.6%	2.6%	2.5%	2.5%	2.9%	2.8%	2.9%	3.5%
Total Current Liabilities	30.4%	28.1%	28.7%	30.2%	30.3%	32.7%	31.3%	29.4%	32.5%	32.2%
Long Term Debt	9.2%	8.2%	10.1%	13.1%	10.4%	8.2%	8.3%	10.1%	13.9%	5.7%
Other Noncurrent Liabilities	17.2%	16.8%	17.9%	18.3%	19.4%	18.0%	18.5%	11.7%	11.8%	9.3%
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	19.5%	18.9%	17.2%	14.6%	11.8%	11.1%	12.0%	11.5%	12.0%	12.6%
Retained Earnings	34.9%	27.1%	19.8%	16.2%	18.3%	13.6%	11.1%	8.4%	4.9%	3.6%
Treasury Stock	1.1%	1.2%	1.4%	1.5%	0.4%	0.5%	0.7%	0.8%	1.0%	1.4%
Accumulated Other Comprehensive Income	3.9%	-0.0%	-0.5%	-0.9%	-0.3%	-0.0%	-0.4%	-0.4%	-0.3%	-0.7%
Total Stockholders Equity	57.3%	44.8%	35.1%	28.4%	29.4%	24.2%	22.1%	18.7%	15.6%	14.2%
Total Liabilitiesand Equity	114.1%	98.0%	91.8%	90.0%	89.5%	83.2%	80.3%	69.8%	73.8%	61.3%

Income Statement

Revenue, expense, and profitability

16 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	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	49.7%	51.1%	53.0%	56.2%	58.0%	60.4%	59.0%	59.8%	62.9%	64.9%
Expenses Selling,General and Administrative	8.1%	8.7%	9.8%	10.5%	8.8%	7.4%	8.6%	7.8%	7.7%	7.1%
Expenses Other Operating Expenses	31.0%	29.4%	30.8%	30.9%	27.9%	15.1%	14.4%	14.7%	14.3%	13.1%
Other Income Expense Operating Income	11.2%	10.8%	6.4%	2.4%	5.3%	5.9%	5.2%	5.3%	2.3%	3.1%
Other Income Expense Interest Income	0.6%	0.7%	0.5%	0.2%	0.1%	0.1%	0.3%	0.2%	0.1%	0.1%
Other Income Expense Interest Expense	0.3%	0.4%	0.6%	0.5%	0.4%	0.4%	0.6%	0.6%	0.5%	0.4%
Other Income Expense Other Income/expense	2.1%	-0.4%	0.2%	-3.3%	3.1%	0.6%	0.1%	-0.1%	0.2%	0.1%
Other Income Expense Income Before Tax	13.6%	10.8%	6.5%	-1.2%	8.1%	6.3%	5.0%	4.8%	2.1%	2.9%
Income Tax Income Tax Expense	2.7%	1.5%	1.2%	-0.6%	1.0%	0.7%	0.8%	0.5%	0.4%	1.0%
net Income Other Items Below Tax	-0.1%	-0.0%	-0.0%	-0.0%	0.0%	0.0%	-0.0%	0.0%	-0.0%	-0.1%
net Income net Income	10.8%	9.3%	5.3%	-0.5%	7.1%	5.5%	4.1%	4.3%	1.7%	1.7%
net Income Comprehensive Income	14.8%	9.8%	5.5%	-1.1%	6.8%	5.7%	4.1%	4.1%	2.0%	1.6%
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 Diluted	1.5%	1.7%	1.8%	2.0%	2.2%	2.6%	0.2%	0.2%	0.3%	0.4%

Cash Flow Statement

Operating, investing, and financing flows

18 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	10.8%	9.3%	5.3%	-0.5%	7.1%	5.5%	4.1%	4.3%	1.7%	1.7%
Operating Activities Depreciation and Amortization	9.2%	8.3%	8.5%	8.2%	7.3%	6.5%	7.8%	6.6%	6.5%	6.0%
Operating Activities Stock Based Compensation	2.7%	3.5%	4.2%	3.8%	2.7%	2.4%	2.4%	2.3%	2.4%	2.2%
Operating Activities Deferred Income Taxes	1.6%	-0.7%	-1.0%	-1.6%	-0.1%	-0.1%	0.3%	0.2%	-0.0%	-0.2%
Operating Activities Changes In Operating Assets and Liabilities	-2.8%	-2.4%	-2.0%	-4.1%	-4.2%	3.5%	-0.9%	-0.4%	-0.1%	2.8%
Operating Activities Other Non Cash Items	-2.1%	0.3%	-0.1%	3.3%	-3.0%	-0.7%	-0.0%	0.2%	-0.1%	0.1%
Operating Activities net Cash From Operating Activities	19.5%	18.2%	14.8%	9.1%	9.9%	17.1%	13.7%	13.2%	10.3%	12.7%
Investing Activities Capital Expenditures	-18.4%	-13.0%	-9.2%	-12.4%	-13.0%	-10.4%	-6.0%	-5.8%	-6.7%	-5.7%
Investing Activities Business Acquisitions	-0.5%	-1.1%	-1.0%	-1.6%	-0.4%	-0.6%	-0.9%	-0.9%	-7.9%	-0.1%
Investing Activities Purchases of Investments	-7.6%	-4.1%	-0.3%	-0.5%	-12.8%	-18.8%	-11.3%	-3.0%	-7.2%	-5.3%
Investing Activities Proceeds From Sale of Investments	6.2%	2.6%	1.0%	6.1%	12.6%	13.0%	8.1%	3.5%	5.4%	3.4%
Investing Activities Other Investing Activities	0.5%	0.8%	0.8%	1.0%	1.2%	1.3%	1.5%	0.9%	1.1%	0.8%
Investing Activities net Cash From Investing Activities	-19.9%	-14.8%	-8.7%	-7.3%	-12.4%	-15.4%	-8.7%	-5.3%	-15.2%	-7.0%
Financing Activities Proceeds From Debt	3.5%	0.8%	3.2%	12.2%	5.7%	4.5%	0.8%	0.5%	9.1%	0.5%
Financing Activities Repayment of Debt	-2.1%	-2.7%	-5.9%	-9.1%	-4.4%	-4.8%	-4.4%	-3.8%	-3.5%	-3.2%
Financing Activities net Cash From Financing Activities	1.3%	-1.9%	-2.8%	1.9%	1.3%	-0.3%	-3.6%	-3.3%	5.6%	-2.7%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	-0.2%	0.1%	-0.2%	-0.1%	0.2%	0.0%	-0.2%	0.4%	-0.2%
Cash Reconciliation net Change In Cash	1.1%	1.3%	3.4%	3.5%	-1.3%	1.5%	1.5%	4.4%	1.1%	2.8%

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	+1.1%	+5.2%	+5.6%	-3.3%	-3.1%	+6.7%	+7.7%	+7.4%	+3.6%	+6.9%
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%	+22.8%	+16.0%	+7.7%	+14.4%	+24.3%	+24.4%	+31.5%	+10.3%	+34.7%
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	0.71x	0.75x	0.76x	0.62x	0.49x	0.53x	0.65x	0.71x	0.58x	0.63x
Leverage
D/E	0.99x	1.19x	1.61x	2.17x	2.04x	2.44x	2.63x	2.73x	3.74x	3.32x
Interest coverage	35.17x	28.51x	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 · 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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