Amazon.com Inc (AMZN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.83	$5.75	+214.2%	—	—	—
Q3 26	$1.65	$2.78	+68.5%	—	—	—
Q2 26	$1.95	$1.95	0.0%	—	—	—
Q1 26	$1.56	$1.95	+25.0%	—	—	—
Q4 25	$1.33	$1.68	+26.3%	—	—	—
Q3 25	$1.36	$1.59	+16.9%	—	—	—
Q2 25	$1.48	$1.86	+25.7%	—	—	—
Q1 25	$1.14	$1.43	+25.4%	—	—	—
Q4 24	$1.02	$1.26	+23.5%	—	—	—
Q3 24	$0.83	$0.98	+18.1%	—	—	—
Q2 24	$0.8	$1	+25.0%	—	—	—
Q1 24	$0.58	$0.94	+62.1%	—	—	—
Q4 23	$0.35	$0.65	+85.7%	—	—	—
Q3 23	$0.21	$0.31	+47.6%	—	—	—
Q2 23	$0.18	$0.25	+38.9%	—	—	—
Q1 23	$0.22	$0.17	-22.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.29	—	—	$716.9B	—
FY24	—	$5.66	—	—	$638B	—
FY23	—	$2.95	—	—	$574.8B	—
FY22	—	-$0.27	—	—	$514B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$136B	$177.9B	$232.9B	$280.5B	$386.1B	$469.8B	$514B	$574.8B	$638B	$716.9B
YoY change	+27.1%	+30.8%	+30.9%	+20.5%	+37.6%	+21.7%	+9.4%	+11.8%	+11%	+12.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	136B	177.9B	232.9B	280.5B	386.1B	469.8B	514B	574.8B	638B	716.9B
Cost of revenue	122B	159.8B	202B	241.7B	334.6B	403.5B	446.3B	481B	326.3B	356.4B
Gross profit	14B	18.1B	30.9B	38.8B	51.5B	66.3B	67.6B	93.8B	311.7B	360.5B
Gross margin	10.3%	10.2%	13.3%	13.8%	13.3%	14.1%	13.2%	16.3%	48.9%	50.3%
Research & development	16.1B	22.6B	28.8B	35.9B	42.7B	—	—	—	—	—
Selling, general & administrative	9.7B	13.7B	18.1B	24.1B	28.7B	41.4B	54.1B	56.2B	55.3B	58.3B
Operating expenses	25.9B	36.6B	47.3B	60.2B	71.3B	41.4B	55.4B	57B	243.1B	280.5B
Operating income	4.2B	4.1B	12.4B	14.5B	22.9B	24.9B	12.2B	36.9B	68.6B	80B
Operating margin	3.08%	2.31%	5.33%	5.18%	5.93%	5.3%	2.38%	6.41%	10.8%	11.2%
Non-operating income, net	90M	346M	-183M	203M	2.4B	14.6B	-16.8B	938M	-2.3B	15.2B
Pretax income	3.9B	3.8B	11.3B	14B	24.2B	38.2B	-5.9B	37.6B	68.6B	97.3B
Income tax	1.4B	769M	1.2B	2.4B	2.9B	4.8B	-3.2B	7.1B	9.3B	—
Net income	2.4B	3B	10.1B	11.6B	21.3B	33.4B	-2.7B	30.4B	59.2B	77.7B
Net margin	1.74%	1.71%	4.33%	4.13%	5.53%	7.1%	-0.53%	5.29%	9.29%	10.8%
EBITDA	12.5B	16.1B	28B	37B	48.6B	59.7B	54.6B	88.3B	125.6B	150B
EPS	0.25	0.32	1.03	1.17	2.13	3.3	-0.27	2.95	5.66	7.29
Diluted EPS	0.24	0.31	1.01	1.15	2.09	3.24	-0.27	2.9	5.53	7.17

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	143.1B	170B	143.3B	148B	158.9B	187.8B	155.7B	167.7B	180.2B	213.4B	181.5B	—
Cost of revenue	118.5B	140.7B	115.4B	73.8B	81B	98.9B	77B	80.8B	88.7B	110B	87.5B	—
Gross profit	24.5B	29.3B	27.9B	74.2B	77.9B	88.9B	78.7B	86.9B	91.5B	103.4B	94.1B	—
Gross margin	17.2%	17.2%	19.5%	50.1%	49%	47.3%	50.6%	51.8%	50.8%	48.5%	51.8%	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	13.1B	15.9B	12.4B	13.6B	13.3B	16B	12.4B	14.4B	14.6B	17B	12.9B	—
Operating expenses	13.4B	16.1B	12.6B	59.5B	60.5B	67.7B	60.3B	67.7B	74.1B	78.5B	70.2B	—
Operating income	11.2B	13.2B	15.3B	14.7B	17.4B	21.2B	18.4B	19.2B	17.4B	25B	23.9B	—
Operating margin	7.82%	7.77%	10.7%	9.92%	11%	11.3%	11.8%	11.4%	9.67%	11.7%	13.1%	—
Non-operating income, net	1B	289M	-2.7B	-18M	-27M	468M	2.7B	1.1B	10.2B	1.2B	15.6B	—
Pretax income	12.2B	13.7B	13B	15.2B	18B	22.3B	21.7B	20.9B	28.2B	26.6B	39.8B	—
Income tax	2.3B	3.1B	2.5B	1.8B	2.7B	2.3B	4.6B	2.7B	6.9B	4.9B	9.6B	—
Net income	9.9B	10.6B	10.4B	13.5B	15.3B	20B	17.1B	18.2B	21.2B	21.2B	30.3B	—
Net margin	6.9%	6.25%	7.28%	9.11%	9.65%	10.7%	11%	10.8%	11.8%	9.93%	16.7%	—
EBITDA	24B	27.9B	27.7B	27.8B	32.1B	38B	33.7B	35.5B	35.3B	45.5B	43.9B	—
EPS	0.96	1.03	1	1.29	1.46	1.9	1.62	1.71	1.98	1.98	2.82	5.82
Diluted EPS	0.94	1	0.98	1.26	1.43	1.86	1.59	1.68	1.95	1.95	2.78	5.75

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	355.4B	561.3B	731.5B	912.8B	1.6T	1.7T	855.9B	1.6T	2.3T	2.5T	2.9T
Enterprise value	344.7B	568.3B	723.4B	921B	1.6T	1.7T	926B	1.6T	2.3T	2.5T	3.1T
Shares outstanding	9.5B	9.6B	9.7B	9.9B	10B	10.1B	10.2B	10.3B	10.5B	10.7B	10.7B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	149.9	185.1	72.6	78.8	76.3	50.6	—	51.5	38.8	31.7	22.3
P/S	2.61	3.16	3.14	3.25	4.22	3.59	1.67	2.72	3.6	3.43	3.79
P/B	18.4	20.3	16.8	14.7	17.4	12.2	5.86	7.76	8.03	5.98	5.33
EV/EBITDA	27.6	35.2	25.8	24.9	33.5	28.6	17	18.3	18.5	16.6	18.2
EV/Sales	2.53	3.2	3.11	3.28	4.22	3.63	1.8	2.81	3.65	3.47	3.96
Earnings yield	0.67%	0.54%	1.38%	1.27%	1.31%	1.98%	—	1.94%	2.58%	3.16%	4.48%
FCF yield	2.64%	1.14%	2.36%	2.37%	1.59%	-0.87%	-1.97%	2.06%	1.43%	0.31%	0.11%
PEG	—	—	—	—	—	—	—	—	—	—	0.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	10.3%	10.2%	13.3%	13.8%	13.3%	14.1%	13.2%	16.3%	48.9%	50.3%	50.6%
Operating margin	3.08%	2.31%	5.33%	5.18%	5.93%	5.3%	2.38%	6.41%	10.8%	11.2%	13.7%
Net margin	1.74%	1.71%	4.33%	4.13%	5.53%	7.1%	-0.53%	5.29%	9.29%	10.8%	17.4%
ROE	12.3%	10.9%	23.1%	18.7%	22.8%	24.1%	-1.86%	15.1%	20.7%	18.9%	30.6%
ROA	2.84%	2.31%	6.19%	5.14%	6.64%	7.93%	-0.59%	5.76%	9.48%	9.49%	6.59%
ROIC	31.2%	9.46%	31.3%	17.2%	21.6%	13.7%	5.67%	11.9%	18.8%	—	13.3%
Return on tangible assets	3.2%	3.1%	8.04%	6.18%	7.59%	8.79%	-0.66%	6.52%	10.6%	10.3%	10.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.04	1.04	1.1	1.1	1.05	1.14	0.94	1.05	1.06	1.05	1.03
Quick ratio	0.78	0.76	0.85	0.86	0.86	0.91	0.72	0.84	0.87	0.88	1.01
Debt / equity	0.79	1.37	0.76	1.02	0.9	0.84	0.96	0.67	0.46	0.37	0.46
Debt / assets	0.18	0.29	0.2	0.28	0.26	0.28	0.3	0.26	0.21	0.19	0.23
Net debt / EBITDA	-0.86	0.43	-0.29	0.22	-0	0.34	1.28	0.55	0.24	0.2	0.42
Interest coverage	9.04	5.49	8.95	9.73	15.7	22.1	-1.51	12.8	29.5	43.8	46.6
Effective tax rate	36.6%	20.2%	10.6%	17%	11.8%	12.6%	0%	19%	13.5%	—	20.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.3	18.5	23.9	28.4	38.6	46.4	50.4	55.8	60.9	67.3	72.3
EPS (basic)	0.25	0.32	1.03	1.17	2.13	3.3	-0.27	2.95	5.66	7.29	7.29
EPS (diluted)	0.24	0.31	1.01	1.15	2.09	3.24	-0.27	2.9	5.53	7.17	12.2
Book value per share	2.03	2.89	4.47	6.28	9.34	13.7	14.3	19.6	27.3	38.6	51.2
FCF per share	0.99	0.67	1.78	2.19	2.59	-1.46	-1.66	3.13	3.14	0.72	-0.23
Cash per share	2.74	3.23	4.24	5.57	8.44	9.49	6.87	8.42	9.66	11.5	11.4
Capex per share	0.71	1.05	1.16	1.28	3.5	5.47	5.72	4.67	7.42	—	13.5

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.95%	5.65%	4.86%	4.52%	9.08%	11.8%	11.3%	8.37%	12.2%	—	19.8%
Capex / operating cash flow	43.5%	55.6%	37.4%	31.8%	58.1%	125.3%	120.7%	55.1%	65.4%	—	93.5%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$143.1B	$170B	$143.3B	$148B	$158.9B	$187.8B	$155.7B	$167.7B	$180.2B	$213.4B	$181.5B	—
YoY change	+12.6%	+13.9%	+12.5%	+10.1%	+11%	+10.5%	+8.62%	+13.3%	+13.4%	+13.6%	+16.6%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	26B	31B	41.3B	55B	84.4B	96B	70B	86.8B	101.2B	123B
Receivables	8.3B	13.2B	16.7B	20.8B	24.5B	32.9B	42.4B	52.3B	55.5B	67.7B
Inventory	11.5B	16B	17.2B	20.5B	23.8B	32.6B	34.4B	33.3B	34.2B	38.3B
Total current assets	45.8B	60.2B	75.1B	96.3B	132.7B	161.6B	146.8B	172.4B	190.9B	229.1B
Property, plant & equipment	43.1B	115B	148.1B	208.4B	305.2B	426.1B	344.5B	382B	328.8B	443.1B
Goodwill & intangibles	9.3B	33.4B	37.3B	37.6B	40B	41B	52.8B	61B	63.4B	64.9B
Total assets	83.4B	131.3B	162.6B	225.2B	321.2B	420.5B	462.7B	527.9B	624.9B	818B
Accounts payable	25.3B	34.6B	38.2B	47.2B	72.5B	78.7B	79.6B	85B	94.4B	121.9B
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	43.8B	57.9B	68.4B	87.8B	126.4B	142.3B	155.4B	164.9B	179.4B	218B
Long-term debt	15.2B	37.9B	33.1B	63.2B	84.4B	116.4B	140.1B	135.6B	130.9B	153B
Total liabilities	64.1B	103.6B	119.1B	163.2B	227.8B	282.3B	316.6B	326B	338.9B	407B
Shareholders' equity	19.3B	27.7B	43.5B	62.1B	93.4B	138.2B	146B	201.9B	286B	411.1B
Total debt	15.2B	37.9B	33.1B	63.2B	84.4B	116.4B	140.1B	135.6B	130.9B	153B
Net debt	-4.1B	17.4B	1.4B	27.1B	42.3B	80.2B	86.2B	62.2B	52.1B	66.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	64B	—	—	—	—	—	—	—	—	94.2B	123B	143.1B
Receivables	39.9B	—	—	—	—	—	—	—	—	61.2B	67.7B	75.5B
Inventory	36.6B	—	—	—	—	—	—	—	—	41.5B	38.3B	36.5B
Total current assets	140.5B	—	—	—	—	—	—	—	—	196.9B	229.1B	255.2B
Property, plant & equipment	264.1B	—	—	—	—	—	—	—	—	407.9B	443.1B	486.2B
Goodwill & intangibles	45.6B	—	—	—	—	—	—	—	—	46.5B	64.9B	46.9B
Total assets	477.6B	—	—	—	—	—	—	—	—	727.9B	818B	916.6B
Accounts payable	69.5B	—	—	—	—	—	—	—	—	106B	121.9B	124.7B
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	148.2B	—	—	—	—	—	—	—	—	195.2B	218B	216.8B
Long-term debt	138.9B	—	—	—	—	—	—	—	—	135.4B	153B	209.9B
Total liabilities	309B	—	—	—	—	—	—	—	—	358.3B	407B	474.7B
Shareholders' equity	168.6B	—	—	—	—	—	—	—	—	369.6B	411.1B	441.9B
Total debt	138.9B	—	—	—	—	—	—	—	—	135.4B	153B	209.9B
Net debt	89.4B	—	—	—	—	—	—	—	—	68.5B	66.2B	108.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.4B	3B	10.1B	11.6B	21.3B	33.4B	-2.7B	30.4B	59.2B	77.7B
Depreciation & amortization	8.1B	11.5B	15.3B	21.8B	25.2B	34.4B	41.9B	48.7B	52.8B	65.8B
Stock-based compensation	3B	4.2B	5.4B	6.9B	9.2B	12.8B	19.6B	24B	22B	19.5B
Change in working capital	2.1B	-525M	-1.5B	-1.1B	7.7B	-21.7B	-19.3B	-9.1B	-12.6B	-14.9B
Operating cash flow	15.5B	18.1B	30.3B	39.9B	60.3B	44.2B	48.3B	87.4B	118.8B	139.5B
Capital expenditure	-6.7B	-10.1B	-11.3B	-12.7B	-35B	-55.4B	-58.3B	-48.1B	-77.7B	—
Investing cash flow	-9.5B	-27.1B	-12.4B	-24.3B	-59.6B	-58.2B	-37.6B	-49.8B	-94.3B	-14.2B
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	0	0	-6B	0	0	—
Financing cash flow	-2.9B	9.9B	-8.5B	-11.6B	-7.3B	-1.6B	-28.1B	-41.8B	-16.9B	1.2B
Net change in cash	3.1B	926M	9.4B	4B	-6.6B	-15.6B	-17.4B	-4.3B	7.6B	126.5B
Free cash flow	9.4B	6.4B	17.3B	21.7B	25.9B	-14.7B	-16.9B	32.2B	32.9B	7.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	6.8B	9.9B	10.6B	10.4B	13.5B	15.3B	20B	17.1B	18.2B	21.2B	21.2B	30.3B
Depreciation & amortization	11.6B	12.1B	13.8B	11.7B	12B	13.4B	15.6B	14.3B	15.2B	16.8B	19.5B	18.9B
Stock-based compensation	7.1B	5.8B	6.3B	5B	6.7B	5.3B	5B	3.7B	6.5B	4.8B	4.4B	4B
Change in working capital	-4.4B	-3.1B	19.2B	-7B	-1.9B	-6.8B	3.1B	-11.7B	-1.2B	-5.3B	3.3B	-16.3B
Operating cash flow	18.4B	22.5B	48.1B	21.9B	29.4B	25.8B	41.6B	21.1B	32.5B	35.5B	54.5B	26B
Capital expenditure	-10.4B	-11.3B	-13.4B	-13.9B	-16.4B	-21.3B	-26.1B	-24.3B	—	—	—	—
Investing cash flow	-9.7B	-11.8B	-12.6B	-17.9B	-22.1B	-16.9B	-37.4B	-29.8B	-8.1B	8.2B	-8.8B	-21B
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	0	0	—	—	—	—	—	—	—	—
Financing cash flow	-14.3B	-17B	-13.2B	-1.8B	-4.8B	-4.6B	-6.2B	-2.1B	-3.9B	-1.9B	8.9B	46.7B
Net change in cash	-5.5B	-6.3B	22.4B	2.3B	2.5B	4.4B	-2B	-10.9B	20.5B	41.8B	54.6B	51.7B
Free cash flow	5B	8.7B	27.9B	4.1B	7.7B	3.4B	17.8B	-8B	332M	430M	14.9B	-18.2B

Amazon.com Inc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement