Amazon.com (AMZN) Financials

$277.25 +3.70 (+1.35%)

As of 02:02 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	2025
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	12/31/2025
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	77,670
Consolidated Net Income / (Loss)	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248	77,670
Net Income / (Loss) Continuing Operations	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248	77,670
Total Pre-Tax Income	1,568	3,892	3,806	11,261	13,976	24,178	38,151	-5,936	37,557	68,614	97,311
Total Operating Income	2,233	4,186	4,106	12,421	14,541	22,899	24,879	12,248	36,852	68,593	79,975
Total Gross Profit	21,945	30,103	40,683	59,704	74,754	94,240	122,367	140,853	179,427	213,166	251,436
Total Revenue	107,006	135,987	177,866	232,887	280,522	386,064	469,822	513,983	574,785	637,959	716,924
Operating Revenue	107,006	135,987	177,866	232,887	280,522	386,064	469,822	513,983	574,785	637,959	716,924
Total Cost of Revenue	85,061	105,884	137,183	173,183	205,768	291,824	347,455	373,130	395,358	424,793	465,488
Operating Cost of Revenue	85,061	105,884	137,183	173,183	205,768	291,824	347,455	373,130	395,358	424,793	465,488
Total Operating Expenses	19,712	25,917	36,577	47,283	60,213	71,341	97,488	128,605	142,575	144,573	171,461
Selling, General & Admin Expense	1,918	2,599	3,888	4,336	5,203	6,668	8,823	11,891	11,816	11,359	11,172
Marketing Expense	5,254	7,233	10,069	13,814	18,878	22,008	32,551	42,238	44,370	43,907	47,129
Research & Development Expense	12,540	16,085	22,620	28,837	35,931	42,740	56,052	73,213	85,622	88,544	108,521
Other Operating Expenses / (Income)	-	-	-	296	201	-75	62	1,263	767	763	4,639
Total Other Income / (Expense), net	-665	-294	-300	-1,160	-565	1,279	13,272	-18,184	705	21	17,336
Interest Expense	459	484	848	1,417	1,600	1,647	1,809	2,367	3,182	2,406	2,274
Interest & Investment Income	50	100	202	440	832	555	448	989	2,949	4,677	4,381
Other Income / (Expense), net	-256	90	346	-183	203	2,371	14,633	-16,806	938	-2,250	15,229
Income Tax Expense	950	1,425	769	1,197	2,374	2,863	4,791	-3,217	7,120	9,265	19,087
Other Gains / (Losses), net	-22	-96	-4.00	9.00	-14	16	4.00	-3.00	-12	-101	-554
Basic Earnings per Share	$1.28	$5.01	$6.32	$20.68	$23.46	$2.13	$3.30	($0.27)	$2.95	$5.66	$7.29
Weighted Average Basic Shares Outstanding	467M	474M	480M	487M	494M	10.01B	10.12B	10.19B	10.30B	10.47B	10.66B
Diluted Earnings per Share	$1.25	$4.90	$6.15	$20.14	$23.01	$2.09	$3.24	($0.27)	$2.90	$5.53	$7.17
Weighted Average Diluted Shares Outstanding	477M	484M	493M	500M	504M	10.20B	10.30B	10.19B	10.49B	10.72B	10.83B
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	10.73B

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255
Consolidated Net Income / (Loss)	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255
Net Income / (Loss) Continuing Operations	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255
Total Pre-Tax Income	12,189	13,686	12,983	15,245	18,037	22,349	21,679	20,857	28,170	26,605	39,834
Total Operating Income	11,188	13,209	15,307	14,672	17,411	21,203	18,405	19,171	17,422	24,977	23,852
Total Gross Profit	45,747	51,313	48,363	50,626	53,240	60,937	54,098	60,917	63,820	72,601	66,767
Total Revenue	143,083	169,961	143,313	147,977	158,877	187,792	155,667	167,702	180,169	213,386	181,519
Operating Revenue	143,083	169,961	143,313	147,977	158,877	187,792	155,667	167,702	180,169	213,386	181,519
Total Cost of Revenue	97,336	118,648	94,950	97,351	105,637	126,855	101,569	106,785	116,349	140,785	114,752
Operating Cost of Revenue	97,336	118,648	94,950	97,351	105,637	126,855	101,569	106,785	116,349	140,785	114,752
Total Operating Expenses	34,559	38,104	33,056	35,954	35,829	39,734	35,693	41,746	46,398	47,624	42,915
Selling, General & Admin Expense	2,561	3,010	2,742	3,041	2,713	2,863	2,628	2,965	2,875	2,704	2,587
Marketing Expense	10,551	12,902	9,662	10,512	10,609	13,124	9,763	11,416	11,686	14,264	10,314
Research & Development Expense	21,203	22,038	20,424	22,304	22,245	23,571	22,994	27,166	28,962	29,399	29,567
Other Operating Expenses / (Income)	244	154	228	97	262	176	308	199	2,875	1,257	447
Total Other Income / (Expense), net	1,001	477	-2,324	573	626	1,146	3,274	1,686	10,748	1,628	15,982
Interest Expense	806	713	644	589	603	570	541	516	538	679	800
Interest & Investment Income	776	901	993	1,180	1,256	1,248	1,066	1,085	1,100	1,130	1,135
Other Income / (Expense), net	1,031	289	-2,673	-18	-27	468	2,749	1,117	10,186	1,177	15,647
Income Tax Expense	2,306	3,062	2,467	1,767	2,706	2,325	4,553	2,678	6,910	4,946	9,560
Other Gains / (Losses), net	-4.00	-	-85	7.00	-3.00	-20	1.00	-15	-73	-467	-19
Basic Earnings per Share	$0.96	$1.03	$1.00	$1.29	$1.46	$1.91	$1.62	$1.71	$1.98	$1.98	$2.82
Weighted Average Basic Shares Outstanding	10.32B	10.30B	10.39B	10.45B	10.50B	10.47B	10.60B	10.64B	10.67B	10.66B	10.74B
Diluted Earnings per Share	$0.94	$1.03	$0.98	$1.26	$1.43	$1.86	$1.59	$1.68	$1.95	$1.95	$2.78
Weighted Average Diluted Shares Outstanding	10.56B	10.49B	10.67B	10.71B	10.74B	10.72B	10.79B	10.81B	10.85B	10.83B	10.87B
Weighted Average Basic & Diluted Shares Outstanding	10.33B	10.39B	10.41B	10.50B	10.52B	10.60B	10.62B	10.66B	10.69B	10.73B	10.76B

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	2025
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	12/31/2025
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	7,794
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	139,514
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	139,514
Net Income / (Loss) Continuing Operations	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248	77,670
Consolidated Net Income / (Loss)	596	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248	77,670
Depreciation Expense	6,281	8,116	11,478	15,341	21,789	25,180	34,433	41,921	48,663	52,795	65,756
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	4,373
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	-8,285
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	-142,545
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	-142,545
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	-131,819
Acquisitions	-795	-116	-13,972	-2,186	-2,461	-2,325	-1,985	-8,316	-5,839	-7,082	-3,841
Purchase of Investments	-4,091	-7,240	-12,731	-7,100	-31,812	-72,479	-60,157	-2,565	-1,488	-26,005	-54,770
Sale of Property, Plant & Equipment	-	-	1,897	2,104	4,172	5,096	5,657	5,324	4,596	5,341	3,499
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	44,386
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	9,661
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	9,661
Repayment of Debt	-4,235	-4,334	-1,501	-1,305	-2,711	-11,629	-20,668	-47,001	-34,008	-16,954	-15,332
Issuance of Debt	353	618	16,228	1,068	2,273	10,525	26,959	62,719	18,129	5,142	24,993
Effect of Exchange Rate Changes	-374	-212	713	-351	70	618	-364	-1,093	403	-1,301	1,164

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	14	23,809	-558	-1,659	7,004	3,635	-12,419	-8,440	9,011	19,642	14,586
Net Cash From Operating Activities	21,217	42,465	18,989	25,281	25,971	45,636	17,015	32,515	35,525	54,459	26,032
Net Cash From Continuing Operating Activities	21,217	42,465	18,989	25,281	25,971	45,636	17,015	32,515	35,525	54,459	26,032
Net Income / (Loss) Continuing Operations	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255
Consolidated Net Income / (Loss)	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	21,192	30,255
Depreciation Expense	12,131	13,820	11,684	12,038	13,442	15,631	14,262	15,227	16,796	19,471	18,945
Non-Cash Adjustments To Reconcile Net Income	4,814	9,609	9,263	7,034	5,613	6,120	1,600	5,157	-5,897	3,513	-11,245
Changes in Operating Assets and Liabilities, net	-5,607	8,412	-12,389	-7,276	-8,412	3,881	-15,974	-6,033	3,439	10,283	-11,923
Net Cash From Investing Activities	-11,753	-12,601	-17,862	-22,138	-16,899	-37,443	-29,803	-39,424	-26,073	-47,245	-64,212
Net Cash From Continuing Investing Activities	-11,753	-12,601	-17,862	-22,138	-16,899	-37,443	-29,803	-39,424	-26,073	-47,245	-64,212
Purchase of Property, Plant & Equipment	-12,479	-14,588	-14,925	-17,620	-22,620	-27,834	-25,019	-32,183	-35,095	-39,522	-44,203
Acquisitions	-1,629	-381	-3,354	-571	-622	-2,535	48	-1,700	-786	-1,403	-15,408
Purchase of Investments	-219	-435	-1,965	-8,439	-3,068	-12,533	-13,333	-17,797	-7,426	-16,214	-23,256
Sale of Property, Plant & Equipment	1,181	1,235	990	1,227	1,342	1,782	764	815	867	1,053	969
Sale and/or Maturity of Investments	1,393	1,568	1,392	3,265	8,069	3,677	7,737	11,441	16,367	8,841	17,686
Net Cash From Financing Activities	-8,948	-6,746	-1,256	-4,490	-2,758	-3,308	-47	-2,539	-44	12,291	52,767
Net Cash From Continuing Financing Activities	-8,948	-6,746	-1,256	-4,490	-2,758	-3,308	-47	-2,539	-44	12,291	52,767
Repayment of Debt	-9,164	-7,480	-1,594	-5,015	-4,483	-5,862	-2,608	-4,632	-3,267	-4,825	-6,692
Issuance of Debt	216	734	338	525	1,725	2,554	2,561	2,093	3,223	17,116	59,459
Effect of Exchange Rate Changes	-502	691	-429	-312	690	-1,250	416	1,008	-397	137	-1.00

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	2025
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	12/31/2025
Total Assets	64,747	83,402	131,310	162,648	225,248	321,195	420,549	462,675	527,854	624,894	818,042
Total Current Assets	35,705	45,781	60,197	75,101	96,334	132,733	161,580	146,791	172,351	190,867	229,083
Cash & Equivalents	15,890	19,334	20,522	31,750	36,092	42,122	36,220	53,888	73,387	78,779	86,810
Short-Term Investments	3,918	6,647	10,464	9,500	18,929	42,274	59,829	16,138	13,393	22,423	36,219
Accounts Receivable	5,654	8,339	13,164	16,677	20,816	24,542	32,891	42,360	52,253	55,451	67,729
Inventories, net	10,243	11,461	16,047	17,174	20,497	23,795	32,640	34,405	33,318	34,214	38,325
Plant, Property, & Equipment, net	21,838	29,114	48,866	61,797	0.00	0.00	0.00	186,715	204,177	252,665	357,025
Total Noncurrent Assets	7,204	8,507	22,247	25,750	128,914	188,462	258,969	129,169	151,326	181,362	231,934
Goodwill	3,759	3,784	13,350	14,548	14,754	15,017	15,371	20,288	22,789	23,074	23,273
Other Noncurrent Operating Assets	3,445	4,723	8,897	11,202	114,160	173,445	243,598	108,881	128,537	158,288	208,661
Total Liabilities & Shareholders' Equity	64,747	83,402	131,310	162,648	225,248	321,195	420,549	462,675	527,854	624,894	818,042
Total Liabilities	51,363	64,117	103,601	119,099	163,188	227,791	282,304	316,632	325,979	338,924	406,977
Total Current Liabilities	33,887	43,816	57,883	68,391	87,812	126,385	142,266	155,393	164,917	179,431	218,005
Accounts Payable	20,397	25,309	34,616	38,192	47,183	72,539	78,664	79,600	84,981	94,363	121,909
Accrued Expenses	10,372	13,739	18,170	23,663	32,439	44,138	51,775	62,566	64,709	66,965	75,520
Current Deferred Revenue	3,118	4,768	5,097	6,536	8,190	9,708	11,827	13,227	15,227	18,103	20,576
Total Noncurrent Liabilities	17,476	20,301	45,718	50,708	75,376	101,406	140,038	161,239	161,062	159,493	188,972
Long-Term Debt	8,227	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623	65,648
Capital Lease Obligations	-	-	-	-	-	-	-	-	-	78,277	87,339
Other Noncurrent Operating Liabilities	9,249	12,607	20,975	27,213	51,962	69,590	91,294	94,089	102,748	28,593	35,985
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	13,384	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970	411,065
Total Preferred & Common Equity	13,384	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970	411,065
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	13,384	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970	411,065
Common Stock	13,399	17,191	21,394	26,796	33,663	42,870	55,543	75,174	99,134	120,975	140,136
Retained Earnings	2,545	4,916	8,636	19,625	31,220	52,551	85,915	83,193	113,618	172,866	250,536
Treasury Stock	-1,837	-1,837	-1,837	-1,837	-1,837	-1,837	-1,837	-7,837	-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	28,230

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	477,607	486,883	527,854	530,969	554,818	584,626	624,894	643,256	682,170	727,921	916,630
Total Current Assets	140,482	142,995	172,351	163,989	173,307	175,792	190,867	184,645	191,420	196,866	255,155
Cash & Equivalents	49,529	49,605	73,387	72,852	71,178	75,091	78,779	66,207	57,741	66,922	101,816
Short-Term Investments	14,441	14,564	13,393	12,222	17,914	12,960	22,423	28,358	35,439	27,275	41,273
Accounts Receivable	39,925	43,420	52,253	47,768	50,106	51,638	55,451	54,216	57,415	61,175	75,532
Inventories, net	36,587	35,406	33,318	31,147	34,109	36,103	34,214	35,864	40,825	41,494	36,534
Plant, Property, & Equipment, net	193,784	196,468	204,177	209,950	220,717	237,917	252,665	272,781	297,616	324,435	397,458
Total Noncurrent Assets	143,341	147,420	151,326	157,030	160,794	170,917	181,362	185,830	193,134	206,620	264,017
Goodwill	22,785	22,749	22,789	22,770	22,879	23,081	23,074	23,089	23,155	23,260	23,449
Other Noncurrent Operating Assets	120,556	124,671	128,537	134,260	137,915	147,836	158,288	162,741	169,979	183,360	240,568
Total Liabilities & Shareholders' Equity	477,607	486,883	527,854	530,969	554,818	584,626	624,894	643,256	682,170	727,921	916,630
Total Liabilities	309,005	303,910	325,979	314,308	318,371	325,475	338,924	337,389	348,395	358,290	474,716
Total Current Liabilities	148,238	145,214	164,917	152,965	158,172	161,477	179,431	176,171	186,921	195,196	216,756
Accounts Payable	69,481	72,004	84,981	73,068	81,817	84,570	94,363	89,241	98,285	106,032	124,749
Accrued Expenses	64,235	58,812	64,709	63,970	60,351	60,602	66,965	66,331	66,974	68,051	71,120
Current Deferred Revenue	14,522	14,398	15,227	15,927	16,004	16,305	18,103	20,599	21,662	21,113	20,887
Total Noncurrent Liabilities	160,767	158,696	161,062	161,343	160,199	163,998	159,493	161,218	161,474	163,094	257,960
Long-Term Debt	63,092	61,098	58,314	57,634	54,889	54,890	52,623	53,374	50,718	50,742	119,074
Capital Lease Obligations	-	-	-	-	-	-	-	-	83,221	84,677	90,814
Other Noncurrent Operating Liabilities	97,675	97,598	102,748	103,709	105,310	109,108	106,870	107,844	27,535	27,675	48,072
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	168,602	182,973	201,875	216,661	236,447	259,151	285,970	305,867	333,775	369,631	441,914
Total Preferred & Common Equity	168,602	182,973	201,875	216,661	236,447	259,151	285,970	305,867	333,775	369,631	441,914
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	168,602	182,973	201,875	216,661	236,447	259,151	285,970	305,867	333,775	369,631	441,914
Common Stock	87,004	92,819	99,134	104,047	110,743	116,044	120,975	124,625	131,035	135,791	144,092
Retained Earnings	93,115	102,994	113,618	124,049	137,534	152,862	172,866	189,993	208,157	229,344	280,791
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)	-3,680	-5,003	-3,040	-3,598	-3,993	-1,918	-34	-914	2,420	12,333	24,868

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	2025
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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.25%	27.08%	30.80%	30.93%	20.45%	37.62%	21.70%	9.40%	11.83%	10.99%	12.38%
EBITDA Growth	71.83%	50.06%	28.55%	73.13%	32.47%	38.09%	46.57%	-49.47%	131.39%	37.81%	35.10%
EBIT Growth	3,195.00%	116.29%	4.12%	174.89%	20.48%	71.39%	56.36%	-111.54%	929.09%	75.56%	43.50%
NOPAT Growth	606.34%	201.48%	23.48%	238.81%	8.74%	67.24%	7.76%	-60.59%	248.34%	98.66%	8.36%
Net Income Growth	347.30%	297.82%	27.92%	232.11%	15.04%	84.08%	56.41%	-108.16%	1,217.74%	94.73%	31.09%
EPS Growth	340.38%	292.00%	25.51%	227.48%	14.25%	84.08%	56.41%	-108.33%	1,174.07%	90.69%	29.66%
Operating Cash Flow Growth	75.96%	42.89%	6.75%	67.29%	25.36%	71.53%	-29.88%	0.92%	81.69%	36.41%	20.40%
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%	26.36%
Invested Capital Growth	13.40%	-44.65%	2,050.90%	20.16%	18.06%	34.06%	122.76%	57.43%	21.12%	36.90%	39.71%
Revenue Q/Q Growth	6.38%	6.25%	10.37%	5.40%	5.67%	10.96%	2.59%	2.35%	3.75%	2.88%	3.70%
EBITDA Q/Q Growth	12.45%	6.69%	14.98%	8.70%	7.73%	11.39%	14.94%	-26.20%	21.58%	9.15%	5.45%
EBIT Q/Q Growth	37.77%	5.74%	24.43%	13.37%	5.07%	17.59%	22.35%	-139.80%	60.27%	14.05%	4.94%
NOPAT Q/Q Growth	52.28%	9.36%	62.48%	13.42%	-2.36%	19.41%	-9.20%	-41.94%	29.18%	17.51%	2.51%
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%	1.55%
EPS Q/Q Growth	76.06%	11.87%	56.49%	12.89%	0.39%	22.75%	27.04%	-124.32%	48.72%	16.42%	1.27%
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%	6.75%
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%	-44.22%
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%	7.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.51%	22.14%	22.87%	25.64%	26.65%	24.41%	26.05%	27.40%	31.22%	33.41%	35.07%
EBITDA Margin	7.72%	9.11%	8.96%	11.84%	13.02%	13.07%	15.74%	7.27%	15.04%	18.67%	22.45%
Operating Margin	2.09%	3.08%	2.31%	5.33%	5.18%	5.93%	5.30%	2.38%	6.41%	10.75%	11.16%
EBIT Margin	1.85%	3.14%	2.50%	5.25%	5.26%	6.55%	8.41%	-0.89%	6.57%	10.40%	13.28%
Profit (Net Income) Margin	0.56%	1.74%	1.71%	4.33%	4.13%	5.53%	7.10%	-0.53%	5.29%	9.29%	10.83%
Tax Burden Percent	38.01%	60.92%	79.69%	89.45%	82.91%	88.22%	87.45%	45.86%	81.01%	86.35%	79.82%
Interest Burden Percent	79.31%	91.02%	85.49%	92.02%	94.79%	95.68%	96.56%	130.23%	99.38%	103.42%	102.21%
Effective Tax Rate	60.59%	36.61%	20.20%	10.63%	16.99%	11.84%	12.56%	0.00%	18.96%	13.50%	19.61%
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%	16.99%
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%	61.85%
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%	5.29%
Return on Equity (ROE)	4.94%	14.52%	12.91%	28.27%	21.95%	27.44%	28.81%	-1.92%	17.49%	24.29%	22.29%
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%	-16.14%
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%	13.20%
Return on Assets (ROA)	1.00%	3.20%	2.83%	6.85%	5.97%	7.81%	9.00%	-0.62%	6.14%	10.28%	10.77%
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%	22.29%
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%	0.00%
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	64,288
NOPAT Margin	0.82%	1.95%	1.84%	4.77%	4.30%	5.23%	4.63%	1.67%	5.20%	9.30%	8.97%
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%	-44.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.02%	11.48%	17.52%	11.40%
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%	64.93%
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%	1.56%
R&D to Revenue	11.72%	11.83%	12.72%	12.38%	12.81%	11.07%	11.93%	14.24%	14.90%	13.88%	15.14%
Operating Expenses to Revenue	18.42%	19.06%	20.56%	20.30%	21.46%	18.48%	20.75%	25.02%	24.80%	22.66%	23.92%
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	95,204
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	160,960
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	6.00
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	6.36
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	3.44
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	31.77
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	0.19%	0.67%	0.54%	1.37%	1.26%	1.31%	1.97%	0.00%	1.94%	2.57%	3.15%
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	5.66
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	3.48
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	15.52
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	26.23
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	38.85
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	17.90
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	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	0.37
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	0.37
Financial Leverage	-0.86	-0.91	-0.52	-0.34	-0.47	-0.54	-0.43	-0.18	-0.09	-0.16	0.09
Leverage Ratio	4.94	4.53	4.57	4.13	3.67	3.51	3.20	3.11	2.85	2.36	2.07
Compound Leverage Factor	3.92	4.13	3.91	3.80	3.48	3.36	3.09	4.05	2.83	2.44	2.12
Debt to Total Capital	38.07%	28.52%	47.17%	35.04%	27.39%	25.41%	26.07%	31.50%	22.41%	15.54%	27.12%
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	38.07%	28.52%	47.17%	35.04%	27.39%	25.41%	26.07%	31.50%	22.41%	15.54%	27.12%
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	61.93%	71.48%	52.83%	64.96%	72.61%	74.59%	73.93%	68.50%	77.59%	84.46%	72.88%
Debt to EBITDA	1.00	0.62	1.55	0.85	0.64	0.63	0.66	1.80	0.67	0.44	0.95
Net Debt to EBITDA	-1.40	-1.48	-0.39	-0.64	-0.87	-1.04	-0.64	-0.08	-0.33	-0.41	0.19
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	0.95
Debt to NOPAT	9.35	2.90	7.55	2.12	1.94	1.58	2.24	7.83	1.95	0.89	2.38
Net Debt to NOPAT	-13.16	-6.89	-1.91	-1.60	-2.62	-2.60	-2.17	-0.34	-0.95	-0.82	0.47
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	2.38
Altman Z-Score	5.54	5.24	4.84	5.60	5.07	6.02	5.36	2.93	4.53	5.86	5.34
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	1.05	1.04	1.04	1.10	1.10	1.05	1.14	0.94	1.05	1.06	1.05
Quick Ratio	0.75	0.78	0.76	0.85	0.86	0.86	0.91	0.72	0.84	0.87	0.88
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	-61,067
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%	108.72%
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	-26.85
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	61.35
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	4.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.79	1.84	1.66	1.58	1.45	1.41	1.27	1.16	1.16	1.11	0.99
Accounts Receivable Turnover	19.00	19.44	16.54	15.61	14.96	17.02	16.36	13.66	12.15	11.85	11.64
Inventory Turnover	9.18	9.76	9.97	10.43	10.92	13.18	12.31	11.13	11.68	12.58	12.83
Fixed Asset Turnover	5.52	5.34	4.56	4.21	0.00	0.00	0.00	0.00	2.94	2.79	2.35
Accounts Payable Turnover	4.62	4.63	4.58	4.76	4.82	4.88	4.60	4.72	4.80	4.74	4.30
Days Sales Outstanding (DSO)	19.21	18.78	22.06	23.38	24.39	21.44	22.31	26.72	30.04	30.81	31.36
Days Inventory Outstanding (DIO)	39.78	37.41	36.60	35.01	33.41	27.70	29.64	32.79	31.26	29.01	28.44
Days Payable Outstanding (DPO)	79.08	78.78	79.72	76.73	75.72	74.87	79.42	77.41	75.97	77.05	84.79
Cash Conversion Cycle (CCC)	-20.08	-22.59	-21.06	-18.33	-17.92	-25.73	-27.47	-17.90	-14.67	-17.23	-25.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,803	998	21,466	25,794	30,453	40,824	90,940	143,167	173,409	237,391	441,023
Invested Capital Turnover	63.07	97.10	15.84	9.86	9.97	10.83	7.13	4.39	3.63	3.11	1.89
Increase / (Decrease) in Invested Capital	213	-805	20,468	4,328	4,659	10,371	50,116	52,227	30,242	63,982	125,355
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	2,497,474
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	2,467,516
Book Value per Share	$28.55	$40.59	$57.50	$89.06	$125.17	$186.16	$272.59	$14.32	$19.54	$27.20	$38.45
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	$36.28
Total Capital	21,611	26,979	52,452	67,044	85,474	125,220	186,989	213,193	260,189	338,593	564,052
Total Debt	8,227	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623	152,987
Total Long-Term Debt	8,227	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623	152,987
Net Debt	-11,581	-18,287	-6,243	-17,755	-31,607	-52,580	-47,305	-2,876	-28,466	-48,579	29,958
Capital Expenditures (CapEx)	5,387	7,804	10,058	11,323	12,689	35,044	55,396	58,321	48,133	77,658	128,320
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	-111,951
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	11,078
Net Working Capital (NWC)	1,818	1,965	2,314	6,710	8,522	6,348	19,314	-8,602	7,434	11,436	11,078
Net Nonoperating Expense (NNE)	284	282	243	1,028	483	-1,144	-11,609	11,296	-559	83	-13,382
Net Nonoperating Obligations (NNO)	-11,581	-18,287	-6,243	-17,755	-31,607	-52,580	-47,305	-2,876	-28,466	-48,579	29,958
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	65,756
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%	-15.62%
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%	1.55%
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%	1.55%
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	$7.29
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	10.66B
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	$7.17
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	10.83B
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	$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	10.73B
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	64,288
Normalized NOPAT Margin	1.46%	1.95%	1.84%	4.77%	4.30%	5.23%	4.63%	1.67%	5.20%	9.30%	8.97%
Pre Tax Income Margin	1.47%	2.86%	2.14%	4.84%	4.98%	6.26%	8.12%	-1.15%	6.53%	10.76%	13.57%
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	41.87
NOPAT to Interest Expense	1.92	5.48	3.86	7.83	7.54	12.26	12.03	3.62	9.39	24.66	28.27
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	-14.56
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	-28.16
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-220.43%	0.00%	0.00%	0.00%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	10,734,920,870.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	10,734,920,870.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.82
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.57%	13.91%	12.53%	10.12%	11.04%	10.49%	8.62%	13.33%	13.40%	13.63%	16.61%
EBITDA Growth	78.90%	128.18%	57.36%	38.08%	26.60%	36.55%	45.64%	33.05%	44.05%	22.31%	65.02%
EBIT Growth	272.08%	1,993.13%	191.71%	89.28%	42.27%	60.55%	67.44%	38.45%	58.81%	20.69%	86.72%
NOPAT Growth	267.88%	435.19%	237.35%	88.96%	63.14%	85.27%	17.27%	28.82%	-11.15%	7.03%	24.68%
Net Income Growth	243.98%	3,721.58%	228.85%	99.78%	55.16%	88.29%	64.19%	34.70%	38.22%	5.94%	76.65%
EPS Growth	235.71%	3,333.33%	216.13%	93.85%	52.13%	80.58%	62.24%	33.33%	36.36%	4.84%	74.84%
Operating Cash Flow Growth	86.05%	45.56%	296.60%	53.44%	22.41%	7.47%	-10.40%	28.61%	36.79%	19.33%	52.99%
Free Cash Flow Firm Growth	24.20%	60.27%	48.86%	32.90%	5.43%	-125.06%	-210.51%	22.22%	17.26%	14.80%	-129.14%
Invested Capital Growth	30.60%	21.12%	20.37%	20.58%	25.62%	36.90%	39.88%	33.61%	34.36%	39.71%	47.65%
Revenue Q/Q Growth	6.47%	18.78%	-15.68%	3.25%	7.37%	18.20%	-17.11%	7.73%	7.43%	18.44%	-14.93%
EBITDA Q/Q Growth	25.96%	12.19%	-10.98%	9.76%	15.49%	21.01%	-5.06%	0.28%	25.03%	2.75%	28.10%
EBIT Q/Q Growth	57.83%	10.47%	-6.40%	15.99%	18.63%	24.66%	-2.39%	-4.09%	36.08%	-5.27%	51.02%
NOPAT Q/Q Growth	32.15%	13.03%	20.92%	4.62%	14.09%	28.37%	-23.46%	14.92%	-21.31%	54.65%	-10.85%
Net Income Q/Q Growth	46.36%	7.54%	-1.82%	29.28%	13.67%	30.51%	-14.38%	6.05%	16.64%	0.02%	42.77%
EPS Q/Q Growth	44.62%	9.57%	-4.85%	28.57%	13.49%	30.07%	-14.52%	5.66%	16.07%	0.00%	42.56%
Operating Cash Flow Q/Q Growth	28.78%	100.15%	-55.28%	33.14%	2.73%	75.72%	-62.72%	91.10%	9.26%	53.30%	-52.20%
Free Cash Flow Firm Q/Q Growth	-3.02%	39.58%	1.85%	-9.84%	-45.20%	-43.77%	-35.41%	-21.59%	-18.60%	-14.26%	-39.06%
Invested Capital Q/Q Growth	7.26%	-3.61%	9.12%	6.88%	11.74%	5.04%	11.49%	8.70%	9.70%	7.34%	15.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.97%	30.19%	33.75%	34.21%	33.51%	32.45%	34.75%	36.32%	35.42%	34.02%	36.78%
EBITDA Margin	17.02%	16.07%	16.97%	18.04%	19.40%	19.86%	22.75%	21.18%	24.65%	21.38%	32.20%
Operating Margin	7.82%	7.77%	10.68%	9.92%	10.96%	11.29%	11.82%	11.43%	9.67%	11.71%	13.14%
EBIT Margin	8.54%	7.94%	8.82%	9.90%	10.94%	11.54%	13.59%	12.10%	15.32%	12.26%	21.76%
Profit (Net Income) Margin	6.90%	6.25%	7.28%	9.11%	9.65%	10.65%	11.00%	10.83%	11.76%	9.93%	16.67%
Tax Burden Percent	81.05%	77.63%	80.34%	88.46%	84.98%	89.51%	79.00%	87.09%	75.21%	79.65%	75.95%
Interest Burden Percent	99.75%	101.39%	102.76%	104.03%	103.76%	103.13%	102.48%	102.80%	102.04%	101.72%	100.85%
Effective Tax Rate	18.92%	22.37%	19.00%	11.59%	15.00%	10.40%	21.00%	12.84%	24.53%	18.59%	24.00%
Return on Invested Capital (ROIC)	22.12%	21.91%	29.51%	28.64%	28.46%	31.42%	26.76%	20.39%	14.08%	18.06%	17.39%
ROIC Less NNEP Spread (ROIC-NNEP)	-35.28%	19.54%	45.40%	25.71%	25.54%	28.81%	19.22%	23.83%	32.38%	20.93%	40.38%
Return on Net Nonoperating Assets (RNNOA)	0.31%	-1.76%	-3.03%	-2.23%	-2.09%	-4.55%	-2.53%	3.54%	4.52%	1.79%	5.70%
Return on Equity (ROE)	22.43%	20.15%	26.48%	26.41%	26.37%	26.87%	24.24%	23.93%	18.60%	19.85%	23.08%
Cash Return on Invested Capital (CROIC)	-11.99%	-0.24%	3.78%	5.52%	2.17%	-2.26%	-6.30%	-8.94%	-11.82%	-16.14%	-22.64%
Operating Return on Assets (OROA)	10.34%	9.22%	10.46%	11.59%	12.67%	12.77%	15.05%	13.11%	16.14%	12.18%	20.72%
Return on Assets (ROA)	8.36%	7.25%	8.64%	10.67%	11.17%	11.79%	12.19%	11.73%	12.39%	9.87%	15.87%
Return on Common Equity (ROCE)	22.43%	20.15%	26.48%	26.41%	26.37%	26.87%	24.24%	23.93%	18.60%	19.85%	23.08%
Return on Equity Simple (ROE_SIMPLE)	10.97%	0.00%	17.39%	18.79%	19.24%	0.00%	21.56%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	9,071	10,254	12,398	12,971	14,799	18,997	14,540	16,709	13,148	20,334	18,128
NOPAT Margin	6.34%	6.03%	8.65%	8.77%	9.31%	10.12%	9.34%	9.96%	7.30%	9.53%	9.99%
Net Nonoperating Expense Percent (NNEP)	57.40%	2.36%	-15.89%	2.93%	2.92%	2.61%	7.54%	-3.44%	-18.30%	-2.88%	-22.99%
Return On Investment Capital (ROIC_SIMPLE)	-	3.94%	-	-	-	5.61%	4.05%	3.57%	2.60%	3.60%	2.78%
Cost of Revenue to Revenue	68.03%	69.81%	66.25%	65.79%	66.49%	67.55%	65.25%	63.68%	64.58%	65.98%	63.22%
SG&A Expenses to Revenue	1.79%	1.77%	1.91%	2.06%	1.71%	1.52%	1.69%	1.77%	1.60%	1.27%	1.43%
R&D to Revenue	14.82%	12.97%	14.25%	15.07%	14.00%	12.55%	14.77%	16.20%	16.07%	13.78%	16.29%
Operating Expenses to Revenue	24.15%	22.42%	23.07%	24.30%	22.55%	21.16%	22.93%	24.89%	25.75%	22.32%	23.64%
Earnings before Interest and Taxes (EBIT)	12,219	13,498	12,634	14,654	17,384	21,671	21,154	20,288	27,608	26,154	39,499
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24,350	27,318	24,318	26,692	30,826	37,302	35,416	35,515	44,404	45,625	58,444
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.17	7.78	8.60	8.51	7.55	8.07	6.59	6.98	6.34	6.00	5.06
Price to Tangible Book Value (P/TBV)	8.19	8.77	9.61	9.42	8.28	8.77	7.13	7.50	6.76	6.36	5.34
Price to Revenue (P/Rev)	2.37	2.73	3.16	3.33	3.15	3.62	3.10	3.48	3.39	3.44	3.01
Price to Earnings (P/E)	65.32	51.61	49.47	45.28	39.22	38.94	30.58	32.98	30.62	31.77	24.62
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	1.53%	1.94%	2.02%	2.21%	2.55%	2.57%	3.27%	3.03%	3.27%	3.15%	4.06%
Enterprise Value to Invested Capital (EV/IC)	7.27	8.89	9.71	9.77	8.51	9.51	7.46	6.33	5.80	5.66	4.53
Enterprise Value to Revenue (EV/Rev)	2.36	2.68	3.11	3.27	3.10	3.54	3.04	3.54	3.45	3.48	3.10
Enterprise Value to EBITDA (EV/EBITDA)	18.40	17.83	19.27	19.25	17.61	18.96	15.17	17.04	15.61	15.52	12.51
Enterprise Value to EBIT (EV/EBIT)	55.50	40.80	39.85	37.30	33.05	34.04	26.38	29.44	26.27	26.23	20.28
Enterprise Value to NOPAT (EV/NOPAT)	56.60	51.62	47.62	44.20	38.08	38.06	32.29	36.50	37.99	38.85	34.06
Enterprise Value to Operating Cash Flow (EV/OCF)	18.26	18.15	18.52	18.31	17.06	19.49	17.34	19.56	18.23	17.90	15.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	280.37	193.71	436.84	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.33	0.29	0.27	0.23	0.21	0.18	0.17	0.40	0.37	0.37	0.48
Long-Term Debt to Equity	0.33	0.29	0.27	0.23	0.21	0.18	0.17	0.40	0.37	0.37	0.48
Financial Leverage	-0.01	-0.09	-0.07	-0.09	-0.08	-0.16	-0.13	0.15	0.14	0.09	0.14
Leverage Ratio	2.86	2.85	2.68	2.55	2.42	2.36	2.25	2.17	2.09	2.07	2.09
Compound Leverage Factor	2.85	2.89	2.76	2.65	2.51	2.44	2.30	2.23	2.13	2.11	2.10
Debt to Total Capital	25.03%	22.41%	21.01%	18.84%	17.48%	15.54%	14.86%	28.64%	26.81%	27.12%	32.20%
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	25.03%	22.41%	21.01%	18.84%	17.48%	15.54%	14.86%	28.64%	26.81%	27.12%	32.20%
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	74.97%	77.59%	78.99%	81.16%	82.52%	84.46%	85.14%	71.36%	73.19%	72.88%	67.80%
Debt to EBITDA	0.86	0.67	0.60	0.53	0.50	0.44	0.41	0.96	0.89	0.95	1.14
Net Debt to EBITDA	-0.04	-0.33	-0.29	-0.33	-0.30	-0.41	-0.32	0.29	0.27	0.19	0.36
Long-Term Debt to EBITDA	0.86	0.67	0.60	0.53	0.50	0.44	0.41	0.96	0.89	0.95	1.14
Debt to NOPAT	2.64	1.95	1.49	1.23	1.09	0.89	0.87	2.06	2.16	2.38	3.11
Net Debt to NOPAT	-0.13	-0.95	-0.71	-0.76	-0.66	-0.82	-0.67	0.63	0.66	0.47	0.99
Long-Term Debt to NOPAT	2.64	1.95	1.49	1.23	1.09	0.89	0.87	2.06	2.16	2.38	3.11
Altman Z-Score	4.10	4.38	5.10	5.35	5.16	5.63	5.13	5.53	5.44	5.06	4.26
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	0.98	1.05	1.07	1.10	1.09	1.06	1.05	1.02	1.01	1.05	1.18
Quick Ratio	0.74	0.84	0.87	0.88	0.87	0.87	0.84	0.81	0.80	0.88	1.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-33,085	-19,988	-19,618	-21,549	-31,289	-44,985	-60,915	-77,497	-91,913	-105,021	-146,038
Operating Cash Flow to CapEx	187.79%	318.02%	136.27%	154.22%	122.06%	175.17%	70.15%	103.66%	103.79%	141.57%	60.21%
Free Cash Flow to Firm to Interest Expense	-41.05	-28.03	-30.46	-36.59	-51.89	-78.92	-112.60	-150.19	-170.84	-154.67	-182.55
Operating Cash Flow to Interest Expense	26.32	59.56	29.49	42.92	43.07	80.06	31.45	63.01	66.03	80.20	32.54
Operating Cash Flow Less CapEx to Interest Expense	12.31	40.83	7.85	15.09	7.78	34.36	-13.38	2.22	2.41	23.55	-21.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.21	1.16	1.19	1.17	1.16	1.11	1.11	1.08	1.05	0.99	0.95
Accounts Receivable Turnover	13.92	12.15	13.83	13.43	13.05	11.85	12.75	12.46	12.26	11.64	11.45
Inventory Turnover	10.70	11.68	12.30	11.55	11.65	12.58	12.88	11.77	11.64	12.83	13.22
Fixed Asset Turnover	2.97	2.94	2.95	2.92	2.86	2.79	2.69	2.59	2.46	2.35	2.22
Accounts Payable Turnover	5.52	4.80	5.74	5.40	5.32	4.74	5.32	4.90	4.74	4.30	4.47
Days Sales Outstanding (DSO)	26.21	30.04	26.39	27.19	27.98	30.81	28.62	29.29	29.78	31.36	31.88
Days Inventory Outstanding (DIO)	34.11	31.26	29.68	31.60	31.33	29.01	28.35	31.02	31.36	28.44	27.60
Days Payable Outstanding (DPO)	66.17	75.97	63.61	67.63	68.59	77.05	68.66	74.56	77.03	84.79	81.59
Cash Conversion Cycle (CCC)	-5.85	-14.67	-7.54	-8.84	-9.29	-17.23	-11.69	-14.25	-15.89	-25.00	-22.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	179,902	173,409	189,221	202,244	225,990	237,391	264,676	374,534	410,853	441,023	508,713
Invested Capital Turnover	3.49	3.63	3.41	3.27	3.06	3.11	2.87	2.05	1.93	1.89	1.74
Increase / (Decrease) in Invested Capital	42,156	30,242	32,016	34,520	46,088	63,982	75,455	94,206	105,061	125,355	164,166
Enterprise Value (EV)	1,308,521	1,541,687	1,836,612	1,976,878	1,922,478	2,258,309	1,975,133	2,369,881	2,382,917	2,497,474	2,302,561
Market Capitalization	1,311,592	1,570,153	1,864,052	2,011,081	1,955,639	2,306,888	2,016,324	2,329,122	2,341,695	2,467,516	2,235,762
Book Value per Share	$17.73	$19.54	$20.85	$22.72	$24.69	$27.20	$28.86	$31.44	$34.66	$38.45	$41.17
Tangible Book Value per Share	$15.53	$17.33	$18.66	$20.52	$22.49	$25.00	$26.68	$29.26	$32.48	$36.28	$38.98
Total Capital	244,071	260,189	274,295	291,336	314,041	338,593	359,241	467,714	505,050	564,052	651,802
Total Debt	61,098	58,314	57,634	54,889	54,890	52,623	53,374	133,939	135,419	152,987	209,888
Total Long-Term Debt	61,098	58,314	57,634	54,889	54,890	52,623	53,374	133,939	135,419	152,987	209,888
Net Debt	-3,071	-28,466	-27,440	-34,203	-33,161	-48,579	-41,191	40,759	41,222	29,958	66,799
Capital Expenditures (CapEx)	11,298	13,353	13,935	16,393	21,278	26,052	24,255	31,368	34,228	38,469	43,234
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-66,388	-79,346	-74,050	-73,957	-73,736	-89,766	-86,091	-88,681	-92,527	-111,951	-104,690
Debt-free Net Working Capital (DFNWC)	-2,219	7,434	11,024	15,135	14,315	11,436	8,474	4,499	1,670	11,078	38,399
Net Working Capital (NWC)	-2,219	7,434	11,024	15,135	14,315	11,436	8,474	4,499	1,670	11,078	38,399
Net Nonoperating Expense (NNE)	-808	-370	1,967	-514	-529	-1,007	-2,587	-1,455	-8,039	-858	-12,127
Net Nonoperating Obligations (NNO)	-3,071	-28,466	-27,440	-34,203	-33,161	-48,579	-41,191	40,759	41,222	29,958	66,799
Total Depreciation and Amortization (D&A)	12,131	13,820	11,684	12,038	13,442	15,631	14,262	15,227	16,796	19,471	18,945
Debt-free, Cash-free Net Working Capital to Revenue	-11.98%	-13.80%	-12.54%	-12.24%	-11.89%	-14.07%	-13.24%	-13.24%	-13.38%	-15.62%	-14.09%
Debt-free Net Working Capital to Revenue	-0.40%	1.29%	1.87%	2.50%	2.31%	1.79%	1.30%	0.67%	0.24%	1.55%	5.17%
Net Working Capital to Revenue	-0.40%	1.29%	1.87%	2.50%	2.31%	1.79%	1.30%	0.67%	0.24%	1.55%	5.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.96	$1.03	$1.00	$1.29	$1.46	$1.91	$1.62	$1.71	$1.98	$1.98	$2.82
Adjusted Weighted Average Basic Shares Outstanding	10.32B	10.30B	10.39B	10.45B	10.50B	10.47B	10.60B	10.64B	10.67B	10.66B	10.74B
Adjusted Diluted Earnings per Share	$0.94	$1.03	$0.98	$1.26	$1.43	$1.86	$1.59	$1.68	$1.95	$1.95	$2.78
Adjusted Weighted Average Diluted Shares Outstanding	10.56B	10.49B	10.67B	10.71B	10.74B	10.72B	10.79B	10.81B	10.85B	10.83B	10.87B
Adjusted Basic & Diluted Earnings per Share	$0.00	$1.03	$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	10.33B	10.39B	10.41B	10.50B	10.52B	10.60B	10.62B	10.66B	10.69B	10.73B	10.76B
Normalized Net Operating Profit after Tax (NOPAT)	9,071	10,254	12,398	12,971	14,799	18,997	14,540	16,709	13,148	20,334	18,128
Normalized NOPAT Margin	6.34%	6.03%	8.65%	8.77%	9.31%	10.12%	9.34%	9.96%	7.30%	9.53%	9.99%
Pre Tax Income Margin	8.52%	8.05%	9.06%	10.30%	11.35%	11.90%	13.93%	12.44%	15.64%	12.47%	21.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	15.16	18.93	19.62	24.88	28.83	38.02	39.10	39.32	51.32	38.52	49.37
NOPAT to Interest Expense	11.25	14.38	19.25	22.02	24.54	33.33	26.88	32.38	24.44	29.95	22.66
EBIT Less CapEx to Interest Expense	1.14	0.20	-2.02	-2.95	-6.46	-7.69	-5.73	-21.47	-12.30	-18.14	-4.67
NOPAT Less CapEx to Interest Expense	-2.76	-4.35	-2.39	-5.81	-10.74	-12.38	-17.96	-28.41	-39.18	-26.71	-31.38
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the top takeaways for Amazon.com (AMZN) from the latest four years of quarterly results, focusing on the four most recent quarters (2025 Q1–Q4) and the broader trend in the surrounding years. The data show continued scale, improving gross margins, strong cash flow generation, but ongoing heavy investing.

Strong year-over-year revenue and margin growth in 2025: Q4 2025 revenue reached $213.386B, up from $187.792B in Q4 2024 (roughly +13.6% YoY). The quarter also shows a higher gross margin (about 34% in Q4 2025 vs roughly 32.5% in Q4 2024).
Robust quarterly cash flow from operations: Net cash from continuing operating activities was $54.459B in Q4 2025, versus $45.636B in Q4 2024, signaling strong cash generation as revenue scales.
Net income growth solidifies profitability: Q4 2025 net income attributable to common shareholders was $21.192B, up from about $20.004B in Q4 2024, reflecting ongoing profitability alongside revenue growth.
Notable financing activity supports liquidity: In Q4 2025, Amazon issued debt totaling $17.12B, contributing to a net financing cash flow of $12.29B and supporting liquidity for ongoing investments.
Free cash flow remains attractive: Estimated free cash flow for Q4 2025 is CFO minus capex, roughly $54.46B minus $39.52B = about $15B, highlighting substantial cash generation after sustaining investments.
Investing activity remains sizable and negative: Investing cash flow was around -$47.25B in Q4 2025, with ongoing capex and equity investments reflecting expansion and capacity growth.
Balance sheet shows a large, still-strong asset base: Total assets were about $727.9B in the latest quarter (Q3 2025 data), with total equity around $369.6B and total liabilities near $358.3B, implying a balanced capitalization while continuing expansion.
Cash balances have fluctuated modestly: Cash and equivalents were about $66.9B (Q3 2025), down from about $78.8B (Q4 2024), suggesting cash deployment to capex and investments rather than liquidity constraints.
Heavy ongoing capital expenditure and investing cadence: Consistently large CAPEX and investing activity (CAPEX around $39B in Q4 2025) pressures near-term cash flow despite strong CFO.
Leverage implications from debt issuance: The notable debt issuance in 2025 (e.g., $17.12B in Q4) indicates access to capital but raises near-term leverage considerations amid rising interest costs and large liability base.

05/06/26 02:02 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Amazon.com's Financials

When does Amazon.com's fiscal year end?

According to the most recent income statement we have on file, Amazon.com's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Amazon.com's net income changed over the last 10 years?

Amazon.com's net income appears to be on an upward trend, with a most recent value of $77.67 billion in 2025, rising from $596 million in 2015. The previous period was $59.25 billion in 2024. See Amazon.com's forecast for analyst expectations on whatâ€™s next for the company.

What is Amazon.com's operating income?

Amazon.com's total operating income in 2025 was $79.98 billion, based on the following breakdown:

Total Gross Profit: $251.44 billion
Total Operating Expenses: $171.46 billion

How has Amazon.com's revenue changed over the last 10 years?

Over the last 10 years, Amazon.com's total revenue changed from $107.01 billion in 2015 to $716.92 billion in 2025, a change of 570.0%.

How much debt does Amazon.com have?

Amazon.com's total liabilities were at $406.98 billion at the end of 2025, a 20.1% increase from 2024, and a 692.4% increase since 2015.

How much cash does Amazon.com have?

In the past 10 years, Amazon.com's cash and equivalents has ranged from $15.89 billion in 2015 to $86.81 billion in 2025, and is currently $86.81 billion as of their latest financial filing in 2025.

How has Amazon.com's book value per share changed over the last 10 years?

Over the last 10 years, Amazon.com's book value per share changed from 28.55 in 2015 to 38.45 in 2025, a change of 34.7%.

Related Companies

Financial statements for NASDAQ:AMZN last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Amazon.com (AMZN) Financials

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Amazon.com (AMZN) Financials

Annual Income Statements for Amazon.com

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Quarterly Cash Flow Statements for Amazon.com

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Quarterly Metrics And Ratios for Amazon.com

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