Amazon.com (AMZN) Financials

$219.67 -3.63 (-1.63%)

As of 01:17 PM Eastern

Annual Income Statements for Amazon.com

This table shows Amazon.com's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248
Consolidated Net Income / (Loss)	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248
Net Income / (Loss) Continuing Operations	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248
Total Pre-Tax Income	1,568	3,892	3,806	11,261	13,976	24,178	38,151	-5,936	37,557	68,614
Total Operating Income	2,233	4,186	4,106	12,421	14,541	22,899	24,879	12,248	36,852	68,593
Total Gross Profit	21,945	30,103	40,683	59,704	74,754	94,240	122,367	140,853	179,427	213,166
Total Revenue	107,006	135,987	177,866	232,887	280,522	386,064	469,822	513,983	574,785	637,959
Operating Revenue	107,006	135,987	177,866	232,887	280,522	386,064	469,822	513,983	574,785	637,959
Total Cost of Revenue	85,061	105,884	137,183	173,183	205,768	291,824	347,455	373,130	395,358	424,793
Operating Cost of Revenue	85,061	105,884	137,183	173,183	205,768	291,824	347,455	373,130	395,358	424,793
Total Operating Expenses	19,712	25,917	36,577	47,283	60,213	71,341	97,488	128,605	142,575	144,573
Selling, General & Admin Expense	1,918	2,599	3,888	4,336	5,203	6,668	8,823	11,891	11,816	11,359
Marketing Expense	5,254	7,233	10,069	13,814	18,878	22,008	32,551	42,238	44,370	43,907
Research & Development Expense	12,540	16,085	22,620	28,837	35,931	42,740	56,052	73,213	85,622	88,544
Other Operating Expenses / (Income)	-	-	-	296	201	-75	62	1,263	767	763
Total Other Income / (Expense), net	-665	-294	-300	-1,160	-565	1,279	13,272	-18,184	705	21
Interest Expense	459	484	848	1,417	1,600	1,647	1,809	2,367	3,182	2,406
Interest & Investment Income	50	100	202	440	832	555	448	989	2,949	4,677
Other Income / (Expense), net	-256	90	346	-183	203	2,371	14,633	-16,806	938	-2,250
Income Tax Expense	950	1,425	769	1,197	2,374	2,863	4,791	-3,217	7,120	9,265
Other Gains / (Losses), net	-22	-96	-4.00	9.00	-14	16	4.00	-3.00	-12	-101
Basic Earnings per Share	$1.28	$5.01	$6.32	$20.68	$23.46	$2.13	$3.30	($0.27)	$2.95	$5.66
Weighted Average Basic Shares Outstanding	467M	474M	480M	487M	494M	10.01B	10.12B	10.19B	10.30B	10.47B
Diluted Earnings per Share	$1.25	$4.90	$6.15	$20.14	$23.01	$2.09	$3.24	($0.27)	$2.90	$5.53
Weighted Average Diluted Shares Outstanding	477M	484M	493M	500M	504M	10.20B	10.30B	10.19B	10.49B	10.72B
Weighted Average Basic & Diluted Shares Outstanding	465.60M	473.30M	479.90M	487.10M	497.81M	503.56M	508.84M	10.25B	10.39B	10.60B

This table shows Amazon.com's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127
Consolidated Net Income / (Loss)	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127
Net Income / (Loss) Continuing Operations	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127
Total Pre-Tax Income	2,944	-962	4,119	7,563	12,189	13,686	12,983	15,245	18,037	22,349	21,679
Total Operating Income	2,525	2,737	4,774	7,681	11,188	13,209	15,307	14,672	17,411	21,203	18,405
Total Gross Profit	36,250	40,461	38,662	43,705	45,747	51,313	48,363	50,626	53,240	60,937	54,098
Total Revenue	127,101	149,204	127,358	134,383	143,083	169,961	143,313	147,977	158,877	187,792	155,667
Operating Revenue	127,101	149,204	127,358	134,383	143,083	169,961	143,313	147,977	158,877	187,792	155,667
Total Cost of Revenue	90,851	108,743	88,696	90,678	97,336	118,648	94,950	97,351	105,637	126,855	101,569
Operating Cost of Revenue	90,851	108,743	88,696	90,678	97,336	118,648	94,950	97,351	105,637	126,855	101,569
Total Operating Expenses	33,725	37,724	33,888	36,024	34,559	38,104	33,056	35,954	35,829	39,734	35,693
Selling, General & Admin Expense	3,061	3,333	3,043	3,202	2,561	3,010	2,742	3,041	2,713	2,863	2,628
Marketing Expense	11,014	12,818	10,172	10,745	10,551	12,902	9,662	10,512	10,609	13,124	9,763
Research & Development Expense	19,485	20,814	20,450	21,931	21,203	22,038	20,424	22,304	22,245	23,571	22,994
Other Operating Expenses / (Income)	165	759	223	146	244	154	228	97	262	176	308
Total Other Income / (Expense), net	419	-3,699	-655	-118	1,001	477	-2,324	573	626	1,146	3,274
Interest Expense	617	694	823	840	806	713	644	589	603	570	541
Interest & Investment Income	277	445	611	661	776	901	993	1,180	1,256	1,248	1,066
Other Income / (Expense), net	759	-3,450	-443	61	1,031	289	-2,673	-18	-27	468	2,749
Income Tax Expense	69	-1,227	948	804	2,306	3,062	2,467	1,767	2,706	2,325	4,553
Other Gains / (Losses), net	-3.00	13	1.00	-9.00	-4.00	-	-85	7.00	-3.00	-20	1.00
Basic Earnings per Share	$0.28	$0.03	$0.31	$0.66	$0.96	$1.03	$1.00	$1.29	$1.46	$1.91	$1.62
Weighted Average Basic Shares Outstanding	10.19B	10.19B	10.25B	10.29B	10.32B	10.30B	10.39B	10.45B	10.50B	10.47B	10.60B
Diluted Earnings per Share	$0.28	$0.03	$0.31	$0.65	$0.94	$1.03	$0.98	$1.26	$1.43	$1.86	$1.59
Weighted Average Diluted Shares Outstanding	10.33B	10.19B	10.35B	10.45B	10.56B	10.49B	10.67B	10.71B	10.74B	10.72B	10.79B
Weighted Average Basic & Diluted Shares Outstanding	10.20B	10.25B	10.26B	10.32B	10.33B	10.39B	10.41B	10.50B	10.52B	10.60B	10.62B

This table details how cash moves in and out of Amazon.com's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	1,333	3,759	1,922	10,317	4,237	5,967	-5,900	17,776	19,637	8,422
Net Cash From Operating Activities	12,039	17,203	18,365	30,723	38,514	66,064	46,327	46,752	84,946	115,877
Net Cash From Continuing Operating Activities	12,039	17,203	18,365	30,723	38,514	66,064	46,327	46,752	84,946	115,877
Net Income / (Loss) Continuing Operations	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248
Consolidated Net Income / (Loss)	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248
Depreciation Expense	6,281	8,116	11,478	15,341	21,789	25,180	34,433	41,921	48,663	52,795
Non-Cash Adjustments To Reconcile Net Income	2,369	2,955	4,661	5,637	6,615	7,891	765	38,803	27,853	28,030
Changes in Operating Assets and Liabilities, net	2,793	3,761	-807	-328	-1,478	11,662	-22,235	-31,250	-21,995	-24,196
Net Cash From Investing Activities	-6,450	-9,516	-27,084	-12,369	-24,281	-59,611	-58,154	-37,601	-49,833	-94,342
Net Cash From Continuing Investing Activities	-6,450	-9,516	-27,084	-12,369	-24,281	-59,611	-58,154	-37,601	-49,833	-94,342
Purchase of Property, Plant & Equipment	-5,387	-7,804	-11,955	-13,427	-16,861	-40,140	-61,053	-63,645	-52,729	-82,999
Acquisitions	-795	-116	-13,972	-2,186	-2,461	-2,325	-1,985	-8,316	-5,839	-7,082
Purchase of Investments	-4,091	-7,240	-12,731	-7,100	-31,812	-72,479	-60,157	-2,565	-1,488	-26,005
Sale of Property, Plant & Equipment	-	-	1,897	2,104	4,172	5,096	5,657	5,324	4,596	5,341
Sale and/or Maturity of Investments	3,025	4,577	9,677	8,240	22,681	50,237	59,384	31,601	5,627	16,403
Net Cash From Financing Activities	-3,882	-3,716	9,928	-7,686	-10,066	-1,104	6,291	9,718	-15,879	-11,812
Net Cash From Continuing Financing Activities	-3,882	-3,716	9,928	-7,686	-10,066	-1,104	6,291	9,718	-15,879	-11,812
Repayment of Debt	-4,235	-4,334	-1,501	-1,305	-2,711	-11,629	-20,668	-47,001	-34,008	-16,954
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-6,000	0.00	0.00
Issuance of Debt	353	618	16,228	1,068	2,273	10,525	26,959	62,719	18,129	5,142
Effect of Exchange Rate Changes	-374	-212	713	-351	70	618	-364	-1,093	403	-1,301

This table details how cash moves in and out of Amazon.com's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-2,522	19,075	-4,519	333	14	23,809	-558	-1,659	7,004	3,635	-12,419
Net Cash From Operating Activities	11,404	29,173	4,788	16,476	21,217	42,465	18,989	25,281	25,971	45,636	17,015
Net Cash From Continuing Operating Activities	11,404	29,173	4,788	16,476	21,217	42,465	18,989	25,281	25,971	45,636	17,015
Net Income / (Loss) Continuing Operations	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127
Consolidated Net Income / (Loss)	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127
Depreciation Expense	10,327	12,685	11,123	11,589	12,131	13,820	11,684	12,038	13,442	15,631	14,262
Non-Cash Adjustments To Reconcile Net Income	4,338	9,556	6,100	7,330	4,814	9,609	9,263	7,034	5,613	6,120	1,600
Changes in Operating Assets and Liabilities, net	-6,133	6,654	-15,607	-9,193	-5,607	8,412	-12,389	-7,276	-8,412	3,881	-15,974
Net Cash From Investing Activities	-15,608	-10,821	-15,806	-9,673	-11,753	-12,601	-17,862	-22,138	-16,899	-37,443	-29,803
Net Cash From Continuing Investing Activities	-15,608	-10,821	-15,806	-9,673	-11,753	-12,601	-17,862	-22,138	-16,899	-37,443	-29,803
Purchase of Property, Plant & Equipment	-16,378	-16,592	-14,207	-11,455	-12,479	-14,588	-14,925	-17,620	-22,620	-27,834	-25,019
Acquisitions	-885	-831	-3,513	-316	-1,629	-381	-3,354	-571	-622	-2,535	48
Purchase of Investments	-239	-233	-338	-496	-219	-435	-1,965	-8,439	-3,068	-12,533	-13,333
Sale of Property, Plant & Equipment	1,337	1,152	1,137	1,043	1,181	1,235	990	1,227	1,342	1,782	764
Sale and/or Maturity of Investments	557	5,683	1,115	1,551	1,393	1,568	1,392	3,265	8,069	3,677	7,737
Net Cash From Financing Activities	3,016	86	6,354	-6,539	-8,948	-6,746	-1,256	-4,490	-2,758	-3,308	-47
Net Cash From Continuing Financing Activities	3,016	86	6,354	-6,539	-8,948	-6,746	-1,256	-4,490	-2,758	-3,308	-47
Repayment of Debt	-9,429	-18,756	-6,426	-10,938	-9,164	-7,480	-1,594	-5,015	-4,483	-5,862	-2,608
Issuance of Debt	12,445	18,842	12,780	4,399	216	734	338	525	1,725	2,554	2,561
Effect of Exchange Rate Changes	-1,334	637	145	69	-502	691	-429	-312	690	-1,250	416

This table presents Amazon.com's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	64,747	83,402	131,310	162,648	225,248	321,195	420,549	462,675	527,854	624,894
Total Current Assets	35,705	45,781	60,197	75,101	96,334	132,733	161,580	146,791	172,351	190,867
Cash & Equivalents	15,890	19,334	20,522	31,750	36,092	42,122	36,220	53,888	73,387	78,779
Short-Term Investments	3,918	6,647	10,464	9,500	18,929	42,274	59,829	16,138	13,393	22,423
Accounts Receivable	5,654	8,339	13,164	16,677	20,816	24,542	32,891	42,360	52,253	55,451
Inventories, net	10,243	11,461	16,047	17,174	20,497	23,795	32,640	34,405	33,318	34,214
Plant, Property, & Equipment, net	21,838	29,114	48,866	61,797	0.00	0.00	0.00	186,715	204,177	252,665
Total Noncurrent Assets	7,204	8,507	22,247	25,750	128,914	188,462	258,969	129,169	151,326	181,362
Goodwill	3,759	3,784	13,350	14,548	14,754	15,017	15,371	20,288	22,789	23,074
Other Noncurrent Operating Assets	3,445	4,723	8,897	11,202	114,160	173,445	243,598	108,881	128,537	158,288
Total Liabilities & Shareholders' Equity	64,747	83,402	131,310	162,648	225,248	321,195	420,549	462,675	527,854	624,894
Total Liabilities	51,363	64,117	103,601	119,099	163,188	227,791	282,304	316,632	325,979	338,924
Total Current Liabilities	33,887	43,816	57,883	68,391	87,812	126,385	142,266	155,393	164,917	179,431
Accounts Payable	20,397	25,309	34,616	38,192	47,183	72,539	78,664	79,600	84,981	94,363
Accrued Expenses	10,372	13,739	18,170	23,663	32,439	44,138	51,775	62,566	64,709	66,965
Current Deferred Revenue	3,118	4,768	5,097	6,536	8,190	9,708	11,827	13,227	15,227	18,103
Total Noncurrent Liabilities	17,476	20,301	45,718	50,708	75,376	101,406	140,038	161,239	161,062	159,493
Long-Term Debt	8,227	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623
Other Noncurrent Operating Liabilities	9,249	12,607	20,975	27,213	51,962	69,590	91,294	94,089	102,748	106,870
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	13,384	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970
Total Preferred & Common Equity	13,384	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	13,384	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970
Common Stock	13,399	17,191	21,394	26,796	33,663	42,870	55,543	75,174	99,134	120,975
Retained Earnings	2,545	4,916	8,636	19,625	31,220	52,551	85,915	83,193	113,618	172,866
Treasury Stock	-1,837	-1,837	-1,837	-1,837	-1,837	-1,837	-1,837	-7,837	-7,837	-7,837
Accumulated Other Comprehensive Income / (Loss)	-723	-985	-484	-1,035	-986	-180	-1,376	-4,487	-3,040	-34

This table presents Amazon.com's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	428,362	462,675	464,378	477,607	486,883	527,854	530,969	554,818	584,626	624,894	643,256
Total Current Assets	131,463	146,791	136,221	140,482	142,995	172,351	163,989	173,307	175,792	190,867	184,645
Cash & Equivalents	34,947	53,888	49,343	49,529	49,605	73,387	72,852	71,178	75,091	78,779	66,207
Short-Term Investments	23,715	16,138	15,062	14,441	14,564	13,393	12,222	17,914	12,960	22,423	28,358
Accounts Receivable	36,154	42,360	37,646	39,925	43,420	52,253	47,768	50,106	51,638	55,451	54,216
Inventories, net	36,647	34,405	34,170	36,587	35,406	33,318	31,147	34,109	36,103	34,214	35,864
Plant, Property, & Equipment, net	177,195	186,715	190,754	193,784	196,468	204,177	209,950	220,717	237,917	252,665	272,781
Total Noncurrent Assets	119,704	129,169	137,403	143,341	147,420	151,326	157,030	160,794	170,917	181,362	185,830
Goodwill	20,168	20,288	22,749	22,785	22,749	22,789	22,770	22,879	23,081	23,074	23,089
Other Noncurrent Operating Assets	99,536	108,881	114,654	120,556	124,671	128,537	134,260	137,915	147,836	158,288	162,741
Total Liabilities & Shareholders' Equity	428,362	462,675	464,378	477,607	486,883	527,854	530,969	554,818	584,626	624,894	643,256
Total Liabilities	290,873	316,632	309,852	309,005	303,910	325,979	314,308	318,371	325,475	338,924	337,389
Total Current Liabilities	140,363	155,393	147,570	148,238	145,214	164,917	152,965	158,172	161,477	179,431	176,171
Accounts Payable	67,760	79,600	66,907	69,481	72,004	84,981	73,068	81,817	84,570	94,363	89,241
Accrued Expenses	59,974	62,566	66,382	64,235	58,812	64,709	63,970	60,351	60,602	66,965	66,331
Current Deferred Revenue	12,629	13,227	14,281	14,522	14,398	15,227	15,927	16,004	16,305	18,103	20,599
Total Noncurrent Liabilities	150,510	161,239	162,282	160,767	158,696	161,062	161,343	160,199	163,998	159,493	161,218
Long-Term Debt	58,919	67,150	67,084	63,092	61,098	58,314	57,634	54,889	54,890	52,623	53,374
Other Noncurrent Operating Liabilities	91,591	94,089	95,198	97,675	97,598	102,748	103,709	105,310	109,108	106,870	107,844
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	137,489	146,043	154,526	168,602	182,973	201,875	216,661	236,447	259,151	285,970	305,867
Total Preferred & Common Equity	137,489	146,043	154,526	168,602	182,973	201,875	216,661	236,447	259,151	285,970	305,867
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	137,489	146,043	154,526	168,602	182,973	201,875	216,661	236,447	259,151	285,970	305,867
Common Stock	69,526	75,174	79,971	87,004	92,819	99,134	104,047	110,743	116,044	120,975	124,625
Retained Earnings	82,915	83,193	86,365	93,115	102,994	113,618	124,049	137,534	152,862	172,866	189,993
Treasury Stock	-7,837	-7,837	-7,837	-7,837	-7,837	-7,837	-7,837	-7,837	-7,837	-7,837	-7,837
Accumulated Other Comprehensive Income / (Loss)	-7,115	-4,487	-3,973	-3,680	-5,003	-3,040	-3,598	-3,993	-1,918	-34	-914

This table displays calculated financial ratios and metrics derived from Amazon.com's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.25%	27.08%	30.80%	30.93%	20.45%	37.62%	21.70%	9.40%	11.83%	10.99%
EBITDA Growth	71.83%	50.06%	28.55%	73.13%	32.47%	38.09%	46.57%	-49.47%	131.39%	37.81%
EBIT Growth	3,195.00%	116.29%	4.12%	174.89%	20.48%	71.39%	56.36%	-111.54%	929.09%	75.56%
NOPAT Growth	606.34%	201.48%	23.48%	238.81%	8.74%	67.24%	7.76%	-60.59%	248.34%	98.66%
Net Income Growth	347.30%	297.82%	27.92%	232.11%	15.04%	84.08%	56.41%	-108.16%	1,217.74%	94.73%
EPS Growth	340.38%	292.00%	25.51%	227.48%	14.25%	84.08%	56.41%	-108.33%	1,174.07%	90.69%
Operating Cash Flow Growth	75.96%	42.89%	6.75%	67.29%	25.36%	71.53%	-29.88%	0.92%	81.69%	36.41%
Free Cash Flow Firm Growth	168.39%	418.42%	-597.10%	139.40%	9.44%	32.44%	-388.92%	-53.92%	99.14%	-1,135.87%
Invested Capital Growth	13.40%	-44.65%	2,050.90%	20.16%	18.06%	34.06%	122.76%	57.43%	21.12%	36.90%
Revenue Q/Q Growth	6.38%	6.25%	10.37%	5.40%	5.67%	10.96%	2.59%	2.35%	3.75%	2.88%
EBITDA Q/Q Growth	12.45%	6.69%	14.98%	8.70%	7.73%	11.39%	14.94%	-26.20%	21.58%	9.15%
EBIT Q/Q Growth	37.77%	5.74%	24.43%	13.37%	5.07%	17.59%	22.35%	-139.80%	60.27%	14.05%
NOPAT Q/Q Growth	52.28%	9.36%	62.48%	13.42%	-2.36%	19.41%	-9.20%	-41.94%	29.18%	17.51%
Net Income Q/Q Growth	81.71%	12.69%	57.48%	13.15%	2.12%	22.75%	27.04%	-124.04%	51.53%	18.81%
EPS Q/Q Growth	76.06%	11.87%	56.49%	12.89%	0.39%	22.75%	27.04%	-124.32%	48.72%	16.42%
Operating Cash Flow Q/Q Growth	22.56%	13.07%	8.50%	15.48%	9.01%	19.48%	-15.26%	17.87%	18.55%	2.81%
Free Cash Flow Firm Q/Q Growth	-24.62%	235.35%	-11.62%	744.88%	-31.55%	89.38%	-39.23%	-39.25%	98.02%	-205.69%
Invested Capital Q/Q Growth	-71.13%	-86.94%	-14.33%	-24.23%	-14.41%	-13.70%	-0.75%	3.94%	-3.61%	5.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.51%	22.14%	22.87%	25.64%	26.65%	24.41%	26.05%	27.40%	31.22%	33.41%
EBITDA Margin	7.72%	9.11%	8.96%	11.84%	13.02%	13.07%	15.74%	7.27%	15.04%	18.67%
Operating Margin	2.09%	3.08%	2.31%	5.33%	5.18%	5.93%	5.30%	2.38%	6.41%	10.75%
EBIT Margin	1.85%	3.14%	2.50%	5.25%	5.26%	6.55%	8.41%	-0.89%	6.57%	10.40%
Profit (Net Income) Margin	0.56%	1.74%	1.71%	4.33%	4.13%	5.53%	7.10%	-0.53%	5.29%	9.29%
Tax Burden Percent	38.01%	60.92%	79.69%	89.45%	82.91%	88.22%	87.45%	45.86%	81.01%	86.35%
Interest Burden Percent	79.31%	91.02%	85.49%	92.02%	94.79%	95.68%	96.56%	130.23%	99.38%	103.42%
Effective Tax Rate	60.59%	36.61%	20.20%	10.63%	16.99%	11.84%	12.56%	0.00%	18.96%	13.50%
Return on Invested Capital (ROIC)	51.88%	189.46%	29.17%	46.98%	42.92%	56.65%	33.02%	7.32%	18.87%	28.89%
ROIC Less NNEP Spread (ROIC-NNEP)	54.62%	191.35%	31.15%	55.54%	44.88%	53.93%	9.78%	52.34%	15.30%	29.10%
Return on Net Nonoperating Assets (RNNOA)	-46.94%	-174.94%	-16.26%	-18.71%	-20.98%	-29.20%	-4.22%	-9.24%	-1.38%	-4.60%
Return on Equity (ROE)	4.94%	14.52%	12.91%	28.27%	21.95%	27.44%	28.81%	-1.92%	17.49%	24.29%
Cash Return on Invested Capital (CROIC)	39.32%	246.94%	-153.06%	28.66%	26.36%	27.54%	-43.05%	-37.29%	-0.24%	-2.26%
Operating Return on Assets (OROA)	3.32%	5.77%	4.15%	8.33%	7.60%	9.25%	10.65%	-1.03%	7.63%	11.51%
Return on Assets (ROA)	1.00%	3.20%	2.83%	6.85%	5.97%	7.81%	9.00%	-0.62%	6.14%	10.28%
Return on Common Equity (ROCE)	4.94%	14.52%	12.91%	28.27%	21.95%	27.44%	28.81%	-1.92%	17.49%	24.29%
Return on Equity Simple (ROE_SIMPLE)	4.45%	12.29%	10.95%	23.13%	18.67%	22.84%	24.13%	-1.86%	15.07%	20.72%
Net Operating Profit after Tax (NOPAT)	880	2,653	3,276	11,101	12,071	20,187	21,755	8,574	29,866	59,331
NOPAT Margin	0.82%	1.95%	1.84%	4.77%	4.30%	5.23%	4.63%	1.67%	5.20%	9.30%
Net Nonoperating Expense Percent (NNEP)	-2.74%	-1.89%	-1.98%	-8.56%	-1.96%	2.72%	23.25%	-45.02%	3.57%	-0.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.02%	11.48%	17.52%
Cost of Revenue to Revenue	79.49%	77.86%	77.13%	74.36%	73.35%	75.59%	73.95%	72.60%	68.78%	66.59%
SG&A Expenses to Revenue	1.79%	1.91%	2.19%	1.86%	1.85%	1.73%	1.88%	2.31%	2.06%	1.78%
R&D to Revenue	11.72%	11.83%	12.72%	12.38%	12.81%	11.07%	11.93%	14.24%	14.90%	13.88%
Operating Expenses to Revenue	18.42%	19.06%	20.56%	20.30%	21.46%	18.48%	20.75%	25.02%	24.80%	22.66%
Earnings before Interest and Taxes (EBIT)	1,977	4,276	4,452	12,238	14,744	25,270	39,512	-4,558	37,790	66,343
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8,258	12,392	15,930	27,579	36,533	50,450	73,945	37,363	86,453	119,138
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	23.67	18.48	20.34	16.86	14.76	17.50	12.23	5.87	7.78	8.07
Price to Tangible Book Value (P/TBV)	32.92	22.99	39.25	25.32	19.37	20.85	13.76	6.81	8.77	8.77
Price to Revenue (P/Rev)	2.96	2.62	3.17	3.15	3.27	4.23	3.60	1.67	2.73	3.62
Price to Earnings (P/E)	531.60	150.28	185.80	72.91	79.06	76.61	50.68	0.00	51.61	38.94
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.19%	0.67%	0.54%	1.37%	1.26%	1.31%	1.97%	0.00%	1.94%	2.57%
Enterprise Value to Invested Capital (EV/IC)	169.30	338.70	25.96	27.78	29.05	38.74	18.07	5.97	8.89	9.51
Enterprise Value to Revenue (EV/Rev)	2.85	2.49	3.13	3.08	3.15	4.10	3.50	1.66	2.68	3.54
Enterprise Value to EBITDA (EV/EBITDA)	36.96	27.28	34.98	25.99	24.21	31.35	22.23	22.86	17.83	18.96
Enterprise Value to EBIT (EV/EBIT)	154.40	79.05	125.18	58.56	59.99	62.59	41.60	0.00	40.80	34.04
Enterprise Value to NOPAT (EV/NOPAT)	346.84	127.40	170.09	64.56	73.28	78.35	75.56	99.62	51.62	38.06
Enterprise Value to Operating Cash Flow (EV/OCF)	25.36	19.65	30.35	23.33	22.97	23.94	35.48	18.27	18.15	19.49
Enterprise Value to Free Cash Flow (EV/FCFF)	457.58	97.74	0.00	105.82	119.34	161.12	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.61	0.40	0.89	0.54	0.38	0.34	0.35	0.46	0.29	0.18
Long-Term Debt to Equity	0.61	0.40	0.89	0.54	0.38	0.34	0.35	0.46	0.29	0.18
Financial Leverage	-0.86	-0.91	-0.52	-0.34	-0.47	-0.54	-0.43	-0.18	-0.09	-0.16
Leverage Ratio	4.94	4.53	4.57	4.13	3.67	3.51	3.20	3.11	2.85	2.36
Compound Leverage Factor	3.92	4.13	3.91	3.80	3.48	3.36	3.09	4.05	2.83	2.44
Debt to Total Capital	38.07%	28.52%	47.17%	35.04%	27.39%	25.41%	26.07%	31.50%	22.41%	15.54%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	38.07%	28.52%	47.17%	35.04%	27.39%	25.41%	26.07%	31.50%	22.41%	15.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	61.93%	71.48%	52.83%	64.96%	72.61%	74.59%	73.93%	68.50%	77.59%	84.46%
Debt to EBITDA	1.00	0.62	1.55	0.85	0.64	0.63	0.66	1.80	0.67	0.44
Net Debt to EBITDA	-1.40	-1.48	-0.39	-0.64	-0.87	-1.04	-0.64	-0.08	-0.33	-0.41
Long-Term Debt to EBITDA	1.00	0.62	1.55	0.85	0.64	0.63	0.66	1.80	0.67	0.44
Debt to NOPAT	9.35	2.90	7.55	2.12	1.94	1.58	2.24	7.83	1.95	0.89
Net Debt to NOPAT	-13.16	-6.89	-1.91	-1.60	-2.62	-2.60	-2.17	-0.34	-0.95	-0.82
Long-Term Debt to NOPAT	9.35	2.90	7.55	2.12	1.94	1.58	2.24	7.83	1.95	0.89
Altman Z-Score	5.54	5.24	4.84	5.60	5.07	6.02	5.36	2.93	4.53	5.86
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.05	1.04	1.04	1.10	1.10	1.05	1.14	0.94	1.05	1.06
Quick Ratio	0.75	0.78	0.76	0.85	0.86	0.86	0.91	0.72	0.84	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	667	3,458	-17,192	6,773	7,412	9,816	-28,361	-43,653	-376	-4,651
Operating Cash Flow to CapEx	223.48%	220.44%	182.59%	271.33%	303.52%	188.52%	83.63%	80.16%	176.48%	149.21%
Free Cash Flow to Firm to Interest Expense	1.45	7.15	-20.27	4.78	4.63	5.96	-15.68	-18.44	-0.12	-1.93
Operating Cash Flow to Interest Expense	26.23	35.54	21.66	21.68	24.07	40.11	25.61	19.75	26.70	48.16
Operating Cash Flow Less CapEx to Interest Expense	14.49	19.42	9.80	13.69	16.14	18.83	-5.01	-4.89	11.57	15.88
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.79	1.84	1.66	1.58	1.45	1.41	1.27	1.16	1.16	1.11
Accounts Receivable Turnover	19.00	19.44	16.54	15.61	14.96	17.02	16.36	13.66	12.15	11.85
Inventory Turnover	9.18	9.76	9.97	10.43	10.92	13.18	12.31	11.13	11.68	12.58
Fixed Asset Turnover	5.52	5.34	4.56	4.21	0.00	0.00	0.00	0.00	2.94	2.79
Accounts Payable Turnover	4.62	4.63	4.58	4.76	4.82	4.88	4.60	4.72	4.80	4.74
Days Sales Outstanding (DSO)	19.21	18.78	22.06	23.38	24.39	21.44	22.31	26.72	30.04	30.81
Days Inventory Outstanding (DIO)	39.78	37.41	36.60	35.01	33.41	27.70	29.64	32.79	31.26	29.01
Days Payable Outstanding (DPO)	79.08	78.78	79.72	76.73	75.72	74.87	79.42	77.41	75.97	77.05
Cash Conversion Cycle (CCC)	-20.08	-22.59	-21.06	-18.33	-17.92	-25.73	-27.47	-17.90	-14.67	-17.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,803	998	21,466	25,794	30,453	40,824	90,940	143,167	173,409	237,391
Invested Capital Turnover	63.07	97.10	15.84	9.86	9.97	10.83	7.13	4.39	3.63	3.11
Increase / (Decrease) in Invested Capital	213	-805	20,468	4,328	4,659	10,371	50,116	52,227	30,242	63,982
Enterprise Value (EV)	305,251	338,026	557,292	716,661	884,547	1,581,588	1,643,698	854,063	1,541,687	2,258,309
Market Capitalization	316,832	356,313	563,535	734,416	916,154	1,634,168	1,691,003	856,939	1,570,153	2,306,888
Book Value per Share	$28.55	$40.59	$57.50	$89.06	$125.17	$186.16	$272.59	$14.32	$19.54	$27.20
Tangible Book Value per Share	$20.53	$32.62	$29.80	$59.31	$95.41	$156.23	$242.28	$12.33	$17.33	$25.00
Total Capital	21,611	26,979	52,452	67,044	85,474	125,220	186,989	213,193	260,189	338,593
Total Debt	8,227	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623
Total Long-Term Debt	8,227	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623
Net Debt	-11,581	-18,287	-6,243	-17,755	-31,607	-52,580	-47,305	-2,876	-28,466	-48,579
Capital Expenditures (CapEx)	5,387	7,804	10,058	11,323	12,689	35,044	55,396	58,321	48,133	77,658
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-17,990	-24,016	-28,672	-34,540	-46,499	-78,048	-76,735	-78,628	-79,346	-89,766
Debt-free Net Working Capital (DFNWC)	1,818	1,965	2,314	6,710	8,522	6,348	19,314	-8,602	7,434	11,436
Net Working Capital (NWC)	1,818	1,965	2,314	6,710	8,522	6,348	19,314	-8,602	7,434	11,436
Net Nonoperating Expense (NNE)	284	282	243	1,028	483	-1,144	-11,609	11,296	-559	83
Net Nonoperating Obligations (NNO)	-11,581	-18,287	-6,243	-17,755	-31,607	-52,580	-47,305	-2,876	-28,466	-48,579
Total Depreciation and Amortization (D&A)	6,281	8,116	11,478	15,341	21,789	25,180	34,433	41,921	48,663	52,795
Debt-free, Cash-free Net Working Capital to Revenue	-16.81%	-17.66%	-16.12%	-14.83%	-16.58%	-20.22%	-16.33%	-15.30%	-13.80%	-14.07%
Debt-free Net Working Capital to Revenue	1.70%	1.45%	1.30%	2.88%	3.04%	1.64%	4.11%	-1.67%	1.29%	1.79%
Net Working Capital to Revenue	1.70%	1.45%	1.30%	2.88%	3.04%	1.64%	4.11%	-1.67%	1.29%	1.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.25	$0.32	$1.03	$1.17	$2.13	$3.30	($0.27)	$2.95	$5.66
Adjusted Weighted Average Basic Shares Outstanding	9.34B	9.48B	9.60B	9.74B	9.88B	10B	10.12B	10.19B	10.30B	10.47B
Adjusted Diluted Earnings per Share	$0.06	$0.25	$0.31	$1.01	$1.15	$2.09	$3.24	($0.27)	$2.90	$5.53
Adjusted Weighted Average Diluted Shares Outstanding	9.54B	9.68B	9.86B	10B	10.08B	10.20B	10.30B	10.19B	10.49B	10.72B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.42B	9.54B	9.68B	9.82B	9.96B	10.07B	10.18B	10.25B	10.39B	10.60B
Normalized Net Operating Profit after Tax (NOPAT)	1,563	2,653	3,276	11,101	12,071	20,187	21,755	8,574	29,866	59,331
Normalized NOPAT Margin	1.46%	1.95%	1.84%	4.77%	4.30%	5.23%	4.63%	1.67%	5.20%	9.30%
Pre Tax Income Margin	1.47%	2.86%	2.14%	4.84%	4.98%	6.26%	8.12%	-1.15%	6.53%	10.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.31	8.83	5.25	8.64	9.22	15.34	21.84	-1.93	11.88	27.57
NOPAT to Interest Expense	1.92	5.48	3.86	7.83	7.54	12.26	12.03	3.62	9.39	24.66
EBIT Less CapEx to Interest Expense	-7.43	-7.29	-6.61	0.65	1.28	-5.93	-8.78	-26.56	-3.25	-4.70
NOPAT Less CapEx to Interest Expense	-9.82	-10.64	-8.00	-0.16	-0.39	-9.02	-18.60	-21.02	-5.74	-7.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-220.43%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Amazon.com's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.70%	8.58%	9.37%	10.85%	12.57%	13.91%	12.53%	10.12%	11.04%	10.49%	8.62%
EBITDA Growth	-0.19%	-52.56%	260.07%	158.16%	78.90%	128.18%	57.36%	38.08%	26.60%	36.55%	45.64%
EBIT Growth	-29.96%	-104.66%	188.37%	447.49%	272.08%	1,993.13%	191.71%	89.28%	42.27%	60.55%	67.44%
NOPAT Growth	-30.60%	-42.26%	43.10%	195.64%	267.88%	435.19%	237.35%	88.96%	63.14%	85.27%	17.27%
Net Income Growth	-9.00%	-98.06%	182.52%	432.84%	243.98%	3,721.58%	228.85%	99.78%	55.16%	88.29%	64.19%
EPS Growth	-9.68%	-97.89%	181.58%	425.00%	235.71%	3,333.33%	216.13%	93.85%	52.13%	80.58%	62.24%
Operating Cash Flow Growth	55.94%	32.09%	271.61%	83.78%	86.05%	45.56%	296.60%	53.44%	22.41%	7.47%	-10.40%
Free Cash Flow Firm Growth	-7.05%	-7.51%	24.32%	37.32%	24.20%	60.27%	48.86%	32.90%	5.43%	-125.06%	-210.51%
Invested Capital Growth	50.33%	57.43%	36.50%	30.28%	30.60%	21.12%	20.37%	20.58%	25.62%	36.90%	39.88%
Revenue Q/Q Growth	4.84%	17.39%	-14.64%	5.52%	6.47%	18.78%	-15.68%	3.25%	7.37%	18.20%	-17.11%
EBITDA Q/Q Growth	81.77%	-12.04%	29.08%	25.09%	25.96%	12.19%	-10.98%	9.76%	15.49%	21.01%	-5.06%
EBIT Q/Q Growth	247.40%	-121.71%	707.43%	78.76%	57.83%	10.47%	-6.40%	15.99%	18.63%	24.66%	-2.39%
NOPAT Q/Q Growth	6.20%	-22.30%	91.83%	86.78%	32.15%	13.03%	20.92%	4.62%	14.09%	28.37%	-23.46%
Net Income Q/Q Growth	241.62%	-90.32%	1,041.01%	112.80%	46.36%	7.54%	-1.82%	29.28%	13.67%	30.51%	-14.38%
EPS Q/Q Growth	240.00%	-89.29%	933.33%	109.68%	44.62%	9.57%	-4.85%	28.57%	13.49%	30.07%	-14.52%
Operating Cash Flow Q/Q Growth	27.21%	155.81%	-83.59%	244.11%	28.78%	100.15%	-55.28%	33.14%	2.73%	75.72%	-62.72%
Free Cash Flow Firm Q/Q Growth	14.81%	-15.26%	23.76%	16.28%	-3.02%	39.58%	1.85%	-9.84%	-45.20%	-43.77%	-35.41%
Invested Capital Q/Q Growth	6.99%	3.94%	9.81%	6.69%	7.26%	-3.61%	9.12%	6.88%	11.74%	5.04%	11.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.52%	27.12%	30.36%	32.52%	31.97%	30.19%	33.75%	34.21%	33.51%	32.45%	34.75%
EBITDA Margin	10.71%	8.02%	12.13%	14.39%	17.02%	16.07%	16.97%	18.04%	19.40%	19.86%	22.75%
Operating Margin	1.99%	1.83%	3.75%	5.72%	7.82%	7.77%	10.68%	9.92%	10.96%	11.29%	11.82%
EBIT Margin	2.58%	-0.48%	3.40%	5.76%	8.54%	7.94%	8.82%	9.90%	10.94%	11.54%	13.59%
Profit (Net Income) Margin	2.26%	0.19%	2.49%	5.02%	6.90%	6.25%	7.28%	9.11%	9.65%	10.65%	11.00%
Tax Burden Percent	97.55%	-28.90%	77.01%	89.25%	81.05%	77.63%	80.34%	88.46%	84.98%	89.51%	79.00%
Interest Burden Percent	89.65%	134.92%	95.11%	97.69%	99.75%	101.39%	102.76%	104.03%	103.76%	103.13%	102.48%
Effective Tax Rate	2.34%	0.00%	23.02%	10.63%	18.92%	22.37%	19.00%	11.59%	15.00%	10.40%	21.00%
Return on Invested Capital (ROIC)	8.50%	5.64%	11.12%	18.54%	22.12%	21.91%	29.51%	28.64%	28.46%	31.42%	26.76%
ROIC Less NNEP Spread (ROIC-NNEP)	5.66%	12.17%	17.35%	25.02%	-35.28%	19.54%	45.40%	25.71%	25.54%	28.81%	19.22%
Return on Net Nonoperating Assets (RNNOA)	-0.63%	-2.15%	-0.97%	-0.29%	0.31%	-1.76%	-3.03%	-2.23%	-2.09%	-4.55%	-2.53%
Return on Equity (ROE)	7.87%	3.49%	10.15%	18.25%	22.43%	20.15%	26.48%	26.41%	26.37%	26.87%	24.24%
Cash Return on Invested Capital (CROIC)	-27.33%	-37.29%	-18.65%	-14.86%	-11.99%	-0.24%	3.78%	5.52%	2.17%	-2.26%	-6.30%
Operating Return on Assets (OROA)	3.20%	-0.56%	4.08%	6.91%	10.34%	9.22%	10.46%	11.59%	12.67%	12.77%	15.05%
Return on Assets (ROA)	2.80%	0.22%	2.99%	6.02%	8.36%	7.25%	8.64%	10.67%	11.17%	11.79%	12.19%
Return on Common Equity (ROCE)	7.87%	3.49%	10.15%	18.25%	22.43%	20.15%	26.48%	26.41%	26.37%	26.87%	24.24%
Return on Equity Simple (ROE_SIMPLE)	8.24%	0.00%	2.78%	7.75%	10.97%	0.00%	17.39%	18.79%	19.24%	0.00%	21.56%
Net Operating Profit after Tax (NOPAT)	2,466	1,916	3,675	6,864	9,071	10,254	12,398	12,971	14,799	18,997	14,540
NOPAT Margin	1.94%	1.28%	2.89%	5.11%	6.34%	6.03%	8.65%	8.77%	9.31%	10.12%	9.34%
Net Nonoperating Expense Percent (NNEP)	2.83%	-6.53%	-6.23%	-6.48%	57.40%	2.36%	-15.89%	2.93%	2.92%	2.61%	7.54%
Return On Investment Capital (ROIC_SIMPLE)	-	0.90%	-	-	-	3.94%	-	-	-	5.61%	4.05%
Cost of Revenue to Revenue	71.48%	72.88%	69.64%	67.48%	68.03%	69.81%	66.25%	65.79%	66.49%	67.55%	65.25%
SG&A Expenses to Revenue	2.41%	2.23%	2.39%	2.38%	1.79%	1.77%	1.91%	2.06%	1.71%	1.52%	1.69%
R&D to Revenue	15.33%	13.95%	16.06%	16.32%	14.82%	12.97%	14.25%	15.07%	14.00%	12.55%	14.77%
Operating Expenses to Revenue	26.53%	25.28%	26.61%	26.81%	24.15%	22.42%	23.07%	24.30%	22.55%	21.16%	22.93%
Earnings before Interest and Taxes (EBIT)	3,284	-713	4,331	7,742	12,219	13,498	12,634	14,654	17,384	21,671	21,154
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13,611	11,972	15,454	19,331	24,350	27,318	24,318	26,692	30,826	37,302	35,416
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.37	5.87	6.85	7.93	7.17	7.78	8.60	8.51	7.55	8.07	6.59
Price to Tangible Book Value (P/TBV)	9.81	6.81	8.03	9.17	8.19	8.77	9.61	9.42	8.28	8.77	7.13
Price to Revenue (P/Rev)	2.29	1.67	2.02	2.49	2.37	2.73	3.16	3.33	3.15	3.62	3.10
Price to Earnings (P/E)	101.67	0.00	246.49	102.32	65.32	51.61	49.47	45.28	39.22	38.94	30.58
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.98%	0.00%	0.41%	0.98%	1.53%	1.94%	2.02%	2.21%	2.55%	2.57%	3.27%
Enterprise Value to Invested Capital (EV/IC)	8.36	5.97	6.75	7.97	7.27	8.89	9.71	9.77	8.51	9.51	7.46
Enterprise Value to Revenue (EV/Rev)	2.29	1.66	2.02	2.48	2.36	2.68	3.11	3.27	3.10	3.54	3.04
Enterprise Value to EBITDA (EV/EBITDA)	22.74	22.86	21.87	22.14	18.40	17.83	19.27	19.25	17.61	18.96	15.17
Enterprise Value to EBIT (EV/EBIT)	100.54	0.00	227.03	91.28	55.50	40.80	39.85	37.30	33.05	34.04	26.38
Enterprise Value to NOPAT (EV/NOPAT)	77.98	99.62	63.80	78.87	56.60	51.62	47.62	44.20	38.08	38.06	32.29
Enterprise Value to Operating Cash Flow (EV/OCF)	29.03	18.27	19.53	21.61	18.26	18.15	18.52	18.31	17.06	19.49	17.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	280.37	193.71	436.84	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.43	0.46	0.43	0.37	0.33	0.29	0.27	0.23	0.21	0.18	0.17
Long-Term Debt to Equity	0.43	0.46	0.43	0.37	0.33	0.29	0.27	0.23	0.21	0.18	0.17
Financial Leverage	-0.11	-0.18	-0.06	-0.01	-0.01	-0.09	-0.07	-0.09	-0.08	-0.16	-0.13
Leverage Ratio	3.14	3.11	3.03	2.99	2.86	2.85	2.68	2.55	2.42	2.36	2.25
Compound Leverage Factor	2.82	4.19	2.88	2.92	2.85	2.89	2.76	2.65	2.51	2.44	2.30
Debt to Total Capital	30.00%	31.50%	30.27%	27.23%	25.03%	22.41%	21.01%	18.84%	17.48%	15.54%	14.86%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	30.00%	31.50%	30.27%	27.23%	25.03%	22.41%	21.01%	18.84%	17.48%	15.54%	14.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	70.00%	68.50%	69.73%	72.77%	74.97%	77.59%	78.99%	81.16%	82.52%	84.46%	85.14%
Debt to EBITDA	1.16	1.80	1.38	1.05	0.86	0.67	0.60	0.53	0.50	0.44	0.41
Net Debt to EBITDA	0.01	-0.08	0.06	-0.01	-0.04	-0.33	-0.29	-0.33	-0.30	-0.41	-0.32
Long-Term Debt to EBITDA	1.16	1.80	1.38	1.05	0.86	0.67	0.60	0.53	0.50	0.44	0.41
Debt to NOPAT	3.99	7.83	4.03	3.72	2.64	1.95	1.49	1.23	1.09	0.89	0.87
Net Debt to NOPAT	0.02	-0.34	0.16	-0.05	-0.13	-0.95	-0.71	-0.76	-0.66	-0.82	-0.67
Long-Term Debt to NOPAT	3.99	7.83	4.03	3.72	2.64	1.95	1.49	1.23	1.09	0.89	0.87
Altman Z-Score	3.82	2.96	3.44	4.03	4.10	4.38	5.10	5.35	5.16	5.63	5.13
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.94	0.94	0.92	0.95	0.98	1.05	1.07	1.10	1.09	1.06	1.05
Quick Ratio	0.68	0.72	0.69	0.70	0.74	0.84	0.87	0.88	0.87	0.87	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-43,649	-50,311	-38,358	-32,115	-33,085	-19,988	-19,618	-21,549	-31,289	-44,985	-60,915
Operating Cash Flow to CapEx	75.82%	188.94%	36.63%	158.24%	187.79%	318.02%	136.27%	154.22%	122.06%	175.17%	70.15%
Free Cash Flow to Firm to Interest Expense	-70.74	-72.49	-46.61	-38.23	-41.05	-28.03	-30.46	-36.59	-51.89	-78.92	-112.60
Operating Cash Flow to Interest Expense	18.48	42.04	5.82	19.61	26.32	59.56	29.49	42.92	43.07	80.06	31.45
Operating Cash Flow Less CapEx to Interest Expense	-5.89	19.79	-10.06	7.22	12.31	40.83	7.85	15.09	7.78	34.36	-13.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.24	1.16	1.20	1.20	1.21	1.16	1.19	1.17	1.16	1.11	1.11
Accounts Receivable Turnover	15.51	13.66	14.97	14.40	13.92	12.15	13.83	13.43	13.05	11.85	12.75
Inventory Turnover	10.94	11.13	10.85	10.14	10.70	11.68	12.30	11.55	11.65	12.58	12.88
Fixed Asset Turnover	0.00	0.00	2.92	0.00	2.97	2.94	2.95	2.92	2.86	2.79	2.69
Accounts Payable Turnover	5.31	4.72	5.54	5.39	5.52	4.80	5.74	5.40	5.32	4.74	5.32
Days Sales Outstanding (DSO)	23.54	26.72	24.39	25.35	26.21	30.04	26.39	27.19	27.98	30.81	28.62
Days Inventory Outstanding (DIO)	33.36	32.79	33.65	35.99	34.11	31.26	29.68	31.60	31.33	29.01	28.35
Days Payable Outstanding (DPO)	68.74	77.41	65.91	67.76	66.17	75.97	63.61	67.63	68.59	77.05	68.66
Cash Conversion Cycle (CCC)	-11.84	-17.90	-7.87	-6.42	-5.85	-14.67	-7.54	-8.84	-9.29	-17.23	-11.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	137,746	143,167	157,205	167,724	179,902	173,409	189,221	202,244	225,990	237,391	264,676
Invested Capital Turnover	4.38	4.39	3.85	3.63	3.49	3.63	3.41	3.27	3.06	3.11	2.87
Increase / (Decrease) in Invested Capital	46,115	52,227	42,033	38,979	42,156	30,242	32,016	34,520	46,088	63,982	75,455
Enterprise Value (EV)	1,151,451	854,063	1,061,118	1,336,662	1,308,521	1,541,687	1,836,612	1,976,878	1,922,478	2,258,309	1,975,133
Market Capitalization	1,151,194	856,939	1,058,439	1,337,540	1,311,592	1,570,153	1,864,052	2,011,081	1,955,639	2,306,888	2,016,324
Book Value per Share	$13.50	$14.32	$15.08	$16.43	$17.73	$19.54	$20.85	$22.72	$24.69	$27.20	$28.86
Tangible Book Value per Share	$11.52	$12.33	$12.86	$14.21	$15.53	$17.33	$18.66	$20.52	$22.49	$25.00	$26.68
Total Capital	196,408	213,193	221,610	231,694	244,071	260,189	274,295	291,336	314,041	338,593	359,241
Total Debt	58,919	67,150	67,084	63,092	61,098	58,314	57,634	54,889	54,890	52,623	53,374
Total Long-Term Debt	58,919	67,150	67,084	63,092	61,098	58,314	57,634	54,889	54,890	52,623	53,374
Net Debt	257	-2,876	2,679	-878	-3,071	-28,466	-27,440	-34,203	-33,161	-48,579	-41,191
Capital Expenditures (CapEx)	15,041	15,440	13,070	10,412	11,298	13,353	13,935	16,393	21,278	26,052	24,255
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-67,562	-78,628	-75,754	-71,726	-66,388	-79,346	-74,050	-73,957	-73,736	-89,766	-86,091
Debt-free Net Working Capital (DFNWC)	-8,900	-8,602	-11,349	-7,756	-2,219	7,434	11,024	15,135	14,315	11,436	8,474
Net Working Capital (NWC)	-8,900	-8,602	-11,349	-7,756	-2,219	7,434	11,024	15,135	14,315	11,436	8,474
Net Nonoperating Expense (NNE)	-406	1,638	503	114	-808	-370	1,967	-514	-529	-1,007	-2,587
Net Nonoperating Obligations (NNO)	257	-2,876	2,679	-878	-3,071	-28,466	-27,440	-34,203	-33,161	-48,579	-41,191
Total Depreciation and Amortization (D&A)	10,327	12,685	11,123	11,589	12,131	13,820	11,684	12,038	13,442	15,631	14,262
Debt-free, Cash-free Net Working Capital to Revenue	-13.45%	-15.30%	-14.43%	-13.33%	-11.98%	-13.80%	-12.54%	-12.24%	-11.89%	-14.07%	-13.24%
Debt-free Net Working Capital to Revenue	-1.77%	-1.67%	-2.16%	-1.44%	-0.40%	1.29%	1.87%	2.50%	2.31%	1.79%	1.30%
Net Working Capital to Revenue	-1.77%	-1.67%	-2.16%	-1.44%	-0.40%	1.29%	1.87%	2.50%	2.31%	1.79%	1.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.28	$0.03	$0.31	$0.66	$0.96	$1.03	$1.00	$1.29	$1.46	$1.91	$1.62
Adjusted Weighted Average Basic Shares Outstanding	10.19B	10.19B	10.25B	10.29B	10.32B	10.30B	10.39B	10.45B	10.50B	10.47B	10.60B
Adjusted Diluted Earnings per Share	$0.28	$0.03	$0.31	$0.65	$0.94	$1.03	$0.98	$1.26	$1.43	$1.86	$1.59
Adjusted Weighted Average Diluted Shares Outstanding	10.33B	10.19B	10.35B	10.45B	10.56B	10.49B	10.67B	10.71B	10.74B	10.72B	10.79B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.03	$0.00	$0.00	$0.00	$1.03	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	10.20B	10.25B	10.26B	10.32B	10.33B	10.39B	10.41B	10.50B	10.52B	10.60B	10.62B
Normalized Net Operating Profit after Tax (NOPAT)	2,466	1,916	3,675	6,864	9,071	10,254	12,398	12,971	14,799	18,997	14,540
Normalized NOPAT Margin	1.94%	1.28%	2.89%	5.11%	6.34%	6.03%	8.65%	8.77%	9.31%	10.12%	9.34%
Pre Tax Income Margin	2.32%	-0.64%	3.23%	5.63%	8.52%	8.05%	9.06%	10.30%	11.35%	11.90%	13.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.32	-1.03	5.26	9.22	15.16	18.93	19.62	24.88	28.83	38.02	39.10
NOPAT to Interest Expense	4.00	2.76	4.47	8.17	11.25	14.38	19.25	22.02	24.54	33.33	26.88
EBIT Less CapEx to Interest Expense	-19.06	-23.28	-10.62	-3.18	1.14	0.20	-2.02	-2.95	-6.46	-7.69	-5.73
NOPAT Less CapEx to Interest Expense	-20.38	-19.49	-11.42	-4.22	-2.76	-4.35	-2.39	-5.81	-10.74	-12.38	-17.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	52.99%	-220.43%	77.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

Amazon.com (NASDAQ: AMZN) delivered another quarter of revenue growth and margin expansion in Q1 2025. Revenue rose 8.6% year-over-year to $155.7 billion, and operating margin improved to 11.8%. Net income reached $17.1 billion, while NOPAT margin climbed to 9.3%. The company remains in a net cash position on its balance sheet and continues to invest heavily in capacity, generating solid operating cash flow but negative free cash flow to firm due to elevated capex. Liquidity remains sufficient, though the quick ratio sits below 1×. Investors should balance Amazon’s strong profitability and financial flexibility against its aggressive reinvestment strategy.

Revenue Growth: Q1 2025 revenue grew 8.6% YoY to $155.7 billion, extending a multi-year expansion trend.
Margin Improvement: Operating margin rose to 11.8% in Q1 2025 versus 10.7% a year earlier, reflecting improved cost leverage.
Strong Profitability: NOPAT margin increased to 9.3% in Q1 2025, up from 8.7% in Q1 2024, showing better after-tax returns.
Net Cash Position: Net debt stands at –$41.2 billion in Q1 2025, giving Amazon substantial balance-sheet flexibility.
Robust Gross Margin: Gross margin expanded to 34.8% from 33.7% a year ago, indicating continued pricing and mix strength.
High CapEx: Capital expenditures reached $24.3 billion in Q1 2025, supporting infrastructure and growth but pressuring free cash flow.
Share Count: Adjusted diluted EPS of $1.59 reflects earnings growth, though share count dilution remains modestly elevated.
Free Cash Flow to Firm: FCFF was –$60.9 billion in Q1 2025, deeper than –$44.9 billion in Q4 2024, due to continued heavy reinvestment.
Cash Burn: Net change in cash & equivalents was –$12.4 billion in Q1 2025, the largest quarterly draw since Q1 2024.
Quick Ratio Below 1×: Quick ratio of 0.84× in Q1 2025 suggests potential short-term liquidity pressure despite a strong current ratio.

06/30/25 10:18 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Amazon.com's Financials

When does Amazon.com's financial year end?

According to the most recent income statement we have on file, Amazon.com's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Amazon.com's net income changed over the last 9 years?

Amazon.com's net income appears to be on an upward trend, with a most recent value of $59.25 billion in 2024, rising from $596 million in 2015. The previous period was $30.43 billion in 2023. See where experts think Amazon.com is headed by visiting Amazon.com's forecast page.

What is Amazon.com's operating income?

Amazon.com's total operating income in 2024 was $68.59 billion, based on the following breakdown:

Total Gross Profit: $213.17 billion
Total Operating Expenses: $144.57 billion

How has Amazon.com's revenue changed over the last 9 years?

Over the last 9 years, Amazon.com's total revenue changed from $107.01 billion in 2015 to $637.96 billion in 2024, a change of 496.2%.

How much debt does Amazon.com have?

Amazon.com's total liabilities were at $338.92 billion at the end of 2024, a 4.0% increase from 2023, and a 559.9% increase since 2015.

How much cash does Amazon.com have?

In the past 9 years, Amazon.com's cash and equivalents has ranged from $15.89 billion in 2015 to $78.78 billion in 2024, and is currently $78.78 billion as of their latest financial filing in 2024.

How has Amazon.com's book value per share changed over the last 9 years?

Over the last 9 years, Amazon.com's book value per share changed from 28.55 in 2015 to 27.20 in 2024, a change of -4.7%.

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This page (NASDAQ:AMZN) was last updated on 6/30/2025 by MarketBeat.com Staff

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Amazon.com (AMZN) Financials

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Amazon.com (AMZN) Financials

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