— Know what they know.
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Not Investment Advice

AMZN

NASDAQ · USD
Amazon.com, Inc.
Consumer Cyclical · Specialty Retail
CEO Andrew R. Jassy Employees 1,576,000 R&D / revenue 15.1%
Last price
$250.00−1.87%last session
Market cap
$2.70T
P/E (TTM)
19.8x
From 52w high
−13.0%
From 52w low
+27.6%
1-year return
+16.6%
RSI 14 · vs SMA200
45.0 · +3.0%
IS score
62.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

AMZN   SPY   XLY (sector ETF) · weekly closes
100110120Jan 26Apr 26Jul 26Oct 26AMZN 117SPY 116XLY 97

Score DNA

Each bar is a 0-100 score within the scored universe
79
Profitability
71
Growth
45
Value
93
Momentum
100
Risk (safety)
83
Quality
78
Balance sheet
81
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Beneish M above -1.78▲ Negative free cash flow▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 6 / 9Altman Z 4.6Beta 1.443 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
61 open-market sales, $403.5M
Form 144 notices (12m): 40, $4.3B proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
17
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+142
309 new holders, 88 closed
6,174 filers hold 67.8% · 2,950 added, 2,430 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+405
2,528 funds adding shares
2,123 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
29.3%
20-day avg 29.2%, 50-day avg 30.8%
Latest 0.1 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$716.9B
Revenue growth YoY+12.4%
Gross margin50.3%
Operating income$80.0B
Operating margin11.2%
Net income$77.7B
Net margin10.8%
EPS (diluted)$7.17
Cash flow
Operating cash flow$139.5B
Capital expenditure$131.8B
Free cash flow$7.7B
FCF conversion (FCF / OCF)5.5%
Stock-based compensation$19.5B
FCF less SBC−$11.8B
Buybacks$0
Dividends$0
Balance sheet & returns
Cash & short-term investments$123.0B
Total debt$65.6B
Net cash$57.4B
Shareholders' equity$411.1B
Goodwill & intangibles$32.5B
Debt / equity0.40
ROE (TTM)30.5%
ROIC (TTM)8.5%
Operating margin by fiscal year
5.3%FY20212.4%FY20226.4%FY202310.8%FY202411.2%FY2025
Revenue $469.8B (FY2021) to $716.9B (FY2025), a 11.1% CAGR.

Valuation

P/E (TTM)19.8x
EV / EBITDA11.2x
Price / sales3.48x
Price / FCFn/m
FCF yield-0.43%
Buyback yield0.00%
SBC / revenue2.5%
Price / book4.87x
Forward P/E FY202619.6x
Forward P/E FY202723.5x
Forward P/E FY202817.7x
Forward multiples divide today's price by Street EPS estimates. Street mean target $331.06 across 31 analysts last quarter is theirs, not ours.

AMZN vs industry median

241 companies in Specialty Retail
Gross margin 50.8% 37.7% Operating margin 12.1% 2.6% Net margin 17.4% 0.3% ROIC 8.5% 4.0%
AMZN (TTM)Industry median Asset turnover 0.71 vs industry 1.17 · financial leverage 1.99

Earnings delivery

Next report 2026-10-29 · consensus EPS $1.96
92%
beat rate, 11 of 12 quarters
+24.9%
median EPS surprise
9
longest beat streak
+62+25+18+22+25+25+16+28+24-1+71+216
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-26 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
AMZN Amazon.com, Inc. $2.70T19.8x30.5%17.4%+12.4% +16.6%
TSLA Tesla, Inc. $1.40T300.6x4.7%3.9%+11.8% −17.3%
HD The Home Depot, Inc. $308.9B21.6x104.3%10.0%+2.5% −19.6%
MCD McDonald's Corporation $171.9B19.7x-464.6%33.3%+6.3% −20.0%
TJX The TJX Companies, Inc. $162.0B27.2x62.2%10.0%+7.7% +3.6%
BKNG Booking Holdings Inc. $122.8B18.0x-82.7%26.5%+12.9% —
SBUX Starbucks Corporation $111.2B56.0x-25.8%11.2%+4.5% —
LOW Lowe's Companies, Inc. $110.7B16.7x-70.5%9.2%+8.2% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-09-14Other Events; Exhibits
2026-09-09Officer/Director Change
2026-07-30Earnings Release; Exhibits
2026-07-09Other Events; Exhibits
2026-06-12Other Events; Exhibits
2026-06-10Material Agreement; Financial Obligation; Exhibits

Context

Shares outstanding10,786,300,000
Free float91.0%
Institutional ownership67.8%
Beta1.44
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$257.52 / $242.64
Mega-cap Consumer Cyclical median P/E26.2x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where AMZN sits among 40 scored companies in Specialty Retail (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureAMZNIndustry medianIndustry percentileSector median
P/E (TTM) 19.9x 22.2x
37th		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) 0.17 1.02
0th		 0.96
Price / sales 3.5x 1.1x
85th		 1.0x
Price / book 4.9x 4.9x
50th		 2.4x
Price / tangible book 4.9x 7.7x
44th		 4.2x
Price / free cash flow —
Price / operating cash flow 16.7x 12.0x
68th		 10.2x
Enterprise value $2.80T $7.1B
100th		 $5.6B
EV / sales 3.6x 1.5x
87th		 1.4x
EV / EBITDA 11.0x 13.1x
32nd		 11.4x
EV / EBIT 15.6x 17.5x
31st		 16.0x
EV / free cash flow —
Earnings yield 5.0% 4.1%
67th		 4.8%
FCF yield -0.4% 4.7%
5th		 5.9%
Operating cash flow yield 6.0% 8.2%
36th		 9.3%
Graham number (per share) $118.85 $19.83
87th		 $33.39

Profitability (TTM)

MeasureAMZNIndustry medianIndustry percentileSector median
Gross margin 50.8% 43.4%
69th		 34.2%
EBITDA margin 32.7% 10.4%
97th		 11.7%
Operating margin 12.1% 8.1%
69th		 8.7%
EBIT margin 23.1% 7.5%
95th		 8.2%
Net margin 17.4% 5.2%
92nd		 4.9%
NOPAT margin 9.3% 5.7%
69th		 6.8%
FCF margin -1.5% 5.0%
5th		 6.5%
Operating cash flow margin 20.8% 9.9%
87th		 10.4%
R&D / revenue 15.6% 0.0%
100th		 0.0%
SG&A / revenue 7.6% 27.7%
10th		 17.2%
Stock comp / revenue 2.5% 0.7%
81st		 0.6%
Effective tax rate 22.6% 21.9%
55th		 22.4%

Returns on capital

MeasureAMZNIndustry medianIndustry percentileSector median
ROE (on average equity) 30.6% 18.5%
69th		 12.8%
ROA 15.2% 7.7%
82nd		 4.4%
ROIC 11.1% 12.6%
41st		 9.3%
ROCE 20.9% 15.5%
69th		 9.9%
Return on tangible assets 20.1% 10.7%
82nd		 7.4%
Cash ROIC (OCF / invested capital) 24.8% 24.2%
53rd		 14.4%
Gross profitability (GP / assets) 35.9% 48.6%
18th		 31.6%
ROIC, 3-yr average 14.2% 13.1%
53rd		 7.4%
ROIC, 5-yr average 14.1% 14.0%
52nd		 9.1%
ROE, 5-yr average 16.2% 19.2%
43rd		 15.8%
Incremental ROIC 5.8% 23.3%
32nd		 11.2%

Growth

MeasureAMZNIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 15.8% 8.5%
77th		 6.0%
Revenue growth (QoQ) 10.5% 8.4%
64th		 6.6%
Revenue CAGR, 3 yr 13.0% 5.9%
74th		 3.0%
Revenue CAGR, 5 yr 11.8% 7.3%
63rd		 5.9%
Gross profit CAGR, 3 yr 17.1% 6.3%
79th		 3.3%
Operating income CAGR, 3 yr 74.2% 3.7%
93rd		 2.1%
Net income growth (TTM YoY) 91.6% 6.6%
90th		 4.7%
Net income CAGR, 3 yr 117.9% 3.5%
97th		 1.4%
EPS growth (TTM YoY) 89.8% 11.7%
90th		 7.6%
EPS CAGR, 3 yr 114.9% 7.9%
97th		 3.4%
EPS CAGR, 5 yr 34.1% 3.1%
100th		 2.9%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 37.7% 7.2%
82nd		 6.7%
Book value CAGR, 3 yr 46.4% 12.8%
97th		 8.1%
Dividend CAGR, 3 yr —
Sustainable growth rate 30.6% 16.9%
77th		 12.2%

Margin history & stability

MeasureAMZNIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 49.5% 42.3%
69th		 34.9%
Operating margin, 3-yr average 10.8% 6.8%
72nd		 8.0%
Net margin, 3-yr average 11.8% 4.5%
85th		 4.8%
FCF margin, 3-yr average 2.8% 3.9%
31st		 5.7%
Revenue stability (0-1) 0.97 0.82
85th		 0.80
Earnings stability (0-1) 0.71 0.50
72nd		 0.43
Margin stability (0-1) 0.91 0.94
23rd		 0.92

Liquidity (latest quarter)

MeasureAMZNIndustry medianIndustry percentileSector median
Cash & short-term investments $123.0B $295.9M
100th		 $278.1M
Net cash (− = net debt) −$100.2B −$1.3B
0th		 −$1.2B
Working capital $8.0B $206.6M
100th		 $298.0M
Current ratio 1.03 1.34
31st		 1.49
Quick ratio 0.87 0.68
62nd		 0.92
Cash ratio (cash + ST investments / current liabilities) 0.51 0.47
59th		 0.31
Defensive interval (days) 257 days 163 days
67th		 290 days

Leverage & solvency (latest quarter)

MeasureAMZNIndustry medianIndustry percentileSector median
Total debt $223.2B $2.2B
100th		 $1.8B
Debt / equity 0.40 1.17
16th		 1.04
Net debt / equity 0.18 0.79
28th		 0.78
Debt / assets 20.4% 38.1%
15th		 39.7%
Debt / capital 28.8% 53.8%
16th		 51.0%
Debt / EBITDA 0.88 3.03
14th		 3.26
Net debt / EBITDA 0.39 2.03
24th		 2.42
Interest coverage (EBIT / interest) 53.7x 9.5x
90th		 5.1x
Cash interest coverage 48.5x 13.0x
75th		 6.0x
Debt payback (years of OCF) 1.4 yrs 3.1 yrs
19th		 3.8 yrs
Liabilities / assets 49.7% 70.6%
15th		 68.1%
IS credit model rating AA- — —
Implied credit spread (bps) 100 175
23rd		 275

Efficiency

MeasureAMZNIndustry medianIndustry percentileSector median
Asset turnover 0.87 1.24
21st		 1.00
Fixed asset turnover 1.44 3.56
5th		 3.73
Inventory turnover 9.7 5.1
66th		 5.3
Receivables turnover 10.7 52.0
8th		 19.9
Days sales outstanding 34 days 7 days
92nd		 18 days
Days inventory outstanding 38 days 72 days
34th		 68 days
Days payables outstanding 117 days 44 days
90th		 42 days
Cash conversion cycle (days) −45 days 15 days
15th		 44 days
Capex / revenue 22.3% 3.5%
97th		 3.1%
Capex / depreciation 2.30 1.20
87th		 0.89
Operating expense ratio 38.6% 31.4%
74th		 24.8%

Cash flow & earnings quality

MeasureAMZNIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.19 1.85
17th		 1.76
FCF / net income −0.09 1.08
0th		 1.18
FCF / operating cash flow -7.2% 65.5%
0th		 70.1%
Capex / operating cash flow 107.2% 34.5%
100th		 29.9%
Accruals ratio -2.9% -6.2%
79th		 -5.7%
Sloan accruals ratio -8.1% -3.1%
18th		 -3.6%
Earnings quality score (0-1) 1.00 0.75
63rd		 0.75

Dividends & buybacks

MeasureAMZNIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.8%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.40
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 17.8%
Dividends / FCF —
Dividend growth (YoY) —
Buyback yield 0.0% 1.2%
8th		 1.6%
Shareholder yield (dividends + buybacks) 0.0% 2.2%
3rd		 3.7%
Share count change (YoY) 0.9% 0.0%
69th		 -0.9%
Buybacks, last 5 years $0 $120.0M
0th		 $198.3M

Scores & forensic checks

MeasureAMZNIndustry medianIndustry percentileSector median
IS score 62 56
72nd		 50
IS profitability 79 43
92nd		 38
IS growth 71 57
85th		 53
IS value 45 42
56th		 50
IS momentum 93 79
87th		 72
IS risk (safety) 100 65
62nd		 65
IS quality 83 66
97th		 63
IS balance sheet 78 53
77th		 48
IS earnings quality 81 82
46th		 77
IS cash flow 21 55
3rd		 56
Piotroski F-score (0-9) 6 6
23rd		 6
Altman Z-score 4.6 2.9
67th		 2.8
Beneish M-score −1.72 −2.72
90th		 −2.69
Ohlson O-score −10.55 −6.81
0th		 −6.83
IS credit score 83 66
74th		 58

Per share

MeasureAMZNIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $12.41 $1.84
87th		 $2.05
Book value per share $50.59 $7.32
90th		 $14.46
Tangible book per share $49.10 $3.07
92nd		 $3.70
Revenue per share $71.14 $36.89
67th		 $46.29
FCF per share −$1.07 $2.53
3rd		 $2.72
Operating cash flow per share $14.80 $4.90
82nd		 $4.86
Cash per share $11.28 $4.80
87th		 $3.59

Size (TTM)

MeasureAMZNIndustry medianIndustry percentileSector median
Market cap $2.70T $5.3B
100th		 $3.6B
Revenue $775.7B $6.1B
100th		 $3.9B
EBITDA $254.0B $449.3M
100th		 $442.3M
Net income $135.3B $173.0M
100th		 $178.6M
Free cash flow −$11.6B $298.5M
0th		 $206.3M
Total assets $1.10T $5.1B
100th		 $4.4B
Shareholders' equity $551.6B $827.1M
100th		 $957.6M
Employees 1,576,000 16,550
100th		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-01Herrington Douglas J
CEO Worldwide Amazon Stores
 Open-market sale 1,000$251.50$251,500474,681
2026-09-08Smith Brad D
Director
 Award / grant 4,086——4,086
2026-09-08Mandia Kevin R.
Director
 Award / grant 4,086——4,086
2026-09-01Herrington Douglas J
CEO Worldwide Amazon Stores
 Open-market sale 1,000$254.77$254,770475,681
2026-08-26Bezos Jeffrey P
Director, Executive Chair
 Gift 230,637——879,323,424
2026-08-25Bezos Jeffrey P
Director, Executive Chair
 Gift 184,943——879,554,061
2026-08-24Zapolsky David
Senior Vice President
 Open-market sale 9,258$259.77$2.4M41,190
2026-08-21Reynolds Shelley
Vice President
 Option exercise 1,800——121,580
2026-08-21Reynolds Shelley
Vice President
 Option exercise 543——122,123
2026-08-21Reynolds Shelley
Vice President
 Open-market sale 675$257.77$173,992121,448
2026-08-21Reynolds Shelley
Vice President
 Open-market sale 780$258.58$201,693120,668
2026-08-21Reynolds Shelley
Vice President
 Open-market sale 888$260.33$231,169119,780

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired28,172—
GiftDisposed51,691,377—
Open-market saleDisposed611,424,512$403.5M
Option exerciseAcquired33270,459—
Option exerciseDisposed33270,459—
—Disposed20—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 40 notices · 15,993,279 shares · $4.3B
FiledFilerShares proposedEst. proceeds
2026-08-27Day 1 Academies230,637$59.2M
2026-08-24Zapolsky David9,258$2.4M
2026-08-21Jassy Andrew R20,000$5.2M
2026-08-21Zapolsky David6,172$1.6M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 91 trades (52 purchases) · Senate 14 (7 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-28Michael McCaulHousePurchase$1,001 - $15,0002026-10-16
2026-08-27Michael McCaulHousePurchase$1,001 - $15,0002026-10-16
2026-08-11Cory BookerSenateSale$100,001 - $250,0002026-09-09
2026-08-11Cory BookerSenateSale (Full)$100,001 - $250,0002026-09-09
2026-08-11Cory BookerSenateSale (Full)$100,001 - $250,0002026-09-08
2026-03-30John FettermanSenatePurchase$1,001 - $15,0002026-04-03
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.748,403,539$178.4B6.94%
VANGUARD CAPITAL MANAGEMENT LLC635,764,130$151.5B5.89%
STATE STREET CORP397,186,958$94.7B3.68%
FMR LLC365,660,364$87.2B3.39%
GEODE CAPITAL MANAGEMENT, LLC233,211,684$55.4B2.16%
JPMORGAN CHASE & CO148,113,681$35.6B1.37%
Invesco Ltd.143,818,328$34.3B1.33%
NORGES BANK140,565,601$33.5B1.30%
VANGUARD PORTFOLIO MANAGEMENT LLC121,626,899$29.0B1.13%
Capital Research Global Investors120,603,873$28.7B1.12%
PRICE T ROWE ASSOCIATES INC /MD/108,907,465$26.0B1.01%
MORGAN STANLEY98,941,940$23.6B0.92%
BANK OF AMERICA CORP /DE/93,223,020$22.2B0.86%
NORTHERN TRUST CORP72,763,000$17.3B0.67%
GOLDMAN SACHS GROUP INC68,161,583$16.2B0.63%

Institutional ownership by quarter

2023-092026-0667.8%
% of shares held by 13F filers
2023-092026-066,174
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-306,17467.8%3092,9502,43088
2026-03-316,03264.4%2393,0552,320195
2025-12-316,09965.9%7482,8572,05798
2025-09-305,58262.9%2172,7722,10699
2025-06-305,55963.7%2722,8851,992110
2025-03-315,48162.6%1942,6962,215174
2024-12-315,55662.5%7992,3641,98769
2024-09-304,92860.6%1832,5781,733131
2024-06-304,93660.6%2242,5341,78683
2024-03-314,86459.5%2852,3351,89186
2023-12-314,73858.7%5402,1151,711103
2023-09-304,38557.6%2152,0091,730113

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-10-14SCHEDULE 13G/AJeffrey P. Bezos9.0%964,340,319
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX3.30%$76.8B
VTI3.30%$76.8B
VTSAX3.30%$76.8B
VSMPX3.30%$76.8B
VFFSX3.71%$64.2B
VFINX3.71%$64.2B

Share structure

Shares outstanding10,786,300,000
Float9,810,799,373
Free float91.0%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$469.8B$514.0B$574.8B$638.0B$716.9B
Cost of revenue$272.3B$288.8B$304.7B$326.3B$356.4B
Gross profit$197.5B$225.2B$270.0B$311.7B$360.5B
R&D$56.1B$73.2B$85.6B$88.5B$108.5B
SG&A$41.4B$54.1B$56.2B$55.3B$58.3B
Operating income$24.9B$12.2B$36.9B$68.6B$80.0B
EBITDA$74.4B$38.4B$89.4B$123.8B$165.3B
Pretax income$38.2B−$5.9B$37.6B$68.5B$96.8B
Income tax$4.8B−$3.2B$7.1B$9.3B$19.1B
Net income$33.4B−$2.7B$30.4B$59.2B$77.7B
EPS, diluted$3.24$-0.27$2.90$5.53$7.17
Diluted shares10.3B10.2B10.5B10.7B10.8B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$96.0B$70.0B$86.8B$101.2B$123.0B
Receivables$32.9B$42.4B$52.3B$55.5B$67.7B
Inventory$32.6B$34.4B$33.3B$34.2B$38.3B
Total current assets$161.6B$146.8B$172.4B$190.9B$229.1B
PP&E, net$216.4B$252.8B$276.7B$328.8B$443.1B
Goodwill & intangibles$20.5B$26.4B$30.5B$31.7B$32.5B
Total assets$420.5B$462.7B$527.9B$624.9B$818.0B
Accounts payable$78.7B$79.6B$85.0B$94.4B$121.9B
Total current liabilities$142.3B$155.4B$164.9B$179.4B$218.0B
Long-term debt$48.7B$67.2B$58.3B$52.6B$65.6B
Total liabilities$282.3B$316.6B$326.0B$338.9B$407.0B
Shareholders' equity$138.2B$146.0B$201.9B$286.0B$411.1B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$33.4B−$2.7B$30.4B$59.2B$77.7B
Depreciation & amortization$34.3B$41.9B$48.7B$52.8B$65.8B
Stock-based compensation$12.8B$19.6B$24.0B$22.0B$19.5B
Change in working capital−$19.6B−$20.9B−$11.5B−$15.5B−$20.0B
Operating cash flow$46.3B$46.8B$84.9B$115.9B$139.5B
Capital expenditure−$61.1B−$63.6B−$52.7B−$83.0B−$131.8B
Free cash flow−$14.7B−$16.9B$32.2B$32.9B$7.7B
Investing cash flow−$58.2B−$37.6B−$49.8B−$94.3B−$142.5B
Net debt issued / repaid$6.3B$15.7B−$15.9B−$11.8B$10.2B
Buybacks$0−$6.0B$0$0$0
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin42.0%43.8%47.0%48.9%50.3%
Operating margin5.3%2.4%6.4%10.8%11.2%
Net margin7.1%-0.5%5.3%9.3%10.8%
FCF margin-3.1%-3.3%5.6%5.2%1.1%
ROE28.8%-1.9%17.5%24.3%22.3%
ROIC13.7%4.5%11.9%18.8%14.6%
ROA9.0%-0.6%6.1%10.3%10.8%
Debt / equity0.840.960.670.460.37
Interest coverage22.1xn/m12.8x29.5x43.8x
Current ratio1.140.941.051.061.05
Revenue growth+21.7%+9.4%+11.8%+11.0%+12.4%
EPS growth+55.5%−108.2%+1,185.9%+92.7%+29.4%
P/E at year end51.6xn/m53.0x39.7x32.3x
EV / EBITDA at year end23.4x24.1x18.6x19.2x15.3x
FCF yield at year end-0.86%-1.95%2.00%1.40%0.31%
Dividend payout0.0%—0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Online Stores$222.1B$220.0B$231.9B$247.0B$269.3B
Third-Party Seller Services$103.4B$117.7B$140.1B$156.1B$172.2B
Amazon Web Services$62.2B$80.1B$90.8B$107.6B$128.7B
Advertising Services$31.2B$37.7B$46.9B$56.2B$68.6B
Subscription Services$31.8B$35.2B$40.2B$44.4B$49.6B
Physical Stores$17.1B$19.0B$20.0B$21.2B$22.6B
Other Services$2.2B$4.2B$5.0B$5.4B$5.9B

Revenue by region · FY2025

North America Segment$426.3B · 59%
International Segment$161.9B · 23%
Amazon Web Services Segment$128.7B · 18%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $1.96 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$828.7B$823.7B – $833.3B$12.79$12.15 – $13.193919.6x
2027$950.8B$920.0B – $993.2B$10.65$8.79 – $11.884123.5x
2028$1.10T$1.02T – $1.42T$14.16$10.15 – $23.443317.7x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$1.82$5.75+215.9%$197.0B$200.6B+1.8%
2026-04-29$1.63$2.78+70.6%$177.3B$181.5B+2.4%
2026-02-05$1.97$1.95−1.0%$211.5B$213.4B+0.9%
2025-10-30$1.57$1.95+24.2%$177.9B$180.2B+1.3%
2025-07-31$1.31$1.68+28.2%$161.8B$167.7B+3.7%
2025-05-01$1.37$1.59+16.1%$155.1B$155.7B+0.3%
2025-02-06$1.49$1.86+24.8%$187.3B$187.8B+0.2%
2024-10-31$1.14$1.43+25.4%$157.3B$158.9B+1.0%
2024-08-01$1.03$1.26+22.3%$148.7B$148.0B−0.5%
2024-04-30$0.83$0.98+18.1%$142.7B$143.3B+0.5%
2024-02-01$0.80$1.00+25.0%$166.2B$170.0B+2.3%
2023-10-26$0.58$0.94+62.1%$133.4B$143.1B+7.3%
2023-08-03$0.35$0.65+85.7%$119.6B$134.4B+12.4%
2023-04-27$0.21$0.31+47.6%$124.6B$127.4B+2.3%
2023-02-02$0.15$0.21+40.0%$145.7B$149.2B+2.4%
2022-10-27$0.22$0.20−9.1%$127.3B$127.1B−0.2%
2022-07-28$0.15$0.10−33.3%$119.0B$121.2B+1.9%
2022-04-28$0.44$0.21−52.3%$116.5B$116.4B−0.0%
2022-02-03$0.19$1.39+631.6%$137.7B$137.4B−0.2%
2021-10-28$0.45$0.31−31.1%$137.6B$110.8B−19.5%
2021-07-29$0.62$0.76+22.6%$111.7B$113.1B+1.3%
2021-04-29$0.48$0.79+64.6%$92.6B$108.5B+17.2%
2021-02-02$0.36$0.70+94.4%$120.8B$125.6B+4.0%
2020-10-29$0.37$0.62+67.6%$78.7B$96.1B+22.2%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
8.306-1519.006-2212.706-297.907-0610.107-139.107-2016.407-2714.808-037.308-109.408-177.508-247.608-31
Week ofNotionalSharesTrades
2026-08-31$7.6B29,586,382537,780
2026-08-24$7.5B28,876,778438,984
2026-08-17$9.4B36,136,269504,857
2026-08-10$7.3B26,874,101442,604
2026-08-03$14.8B53,145,614733,460
2026-07-27$16.4B66,388,799786,852

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1529.3%
DateShort shareShort volumeTotal volume
2026-10-1529.3%4,024,28213,718,911
2026-10-1432.1%4,208,60513,114,025
2026-10-1328.5%2,859,91210,024,421
2026-10-1231.3%2,944,2669,397,243
2026-10-0929.2%4,295,15614,705,952
2026-10-0826.6%3,848,68714,470,602
2026-10-0726.1%3,879,62314,890,063
2026-10-0625.3%3,270,79112,918,996
2026-10-0523.9%3,504,88614,640,169
2026-10-0233.7%3,920,76711,642,842
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+2.7Jan-1.3Feb+3.6Mar+6.8Apr+1.8May+2.8Jun+3.6Jul+2.5Aug+1.0Sep+2.7Oct+2.7Nov-0.3Dec
MonthAvg returnUp yearsYears
Jan+2.7%65%20
Feb−1.3%55%20
Mar+3.6%62%21
Apr+6.8%70%20
May+1.8%55%20
Jun+2.8%70%20
Jul+3.6%75%20
Aug+2.5%60%20
Sep+1.0%50%20
Oct+2.7%60%20
Nov+2.7%75%20
Dec−0.3%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1445.0
MFI57.5
ADX13.3
Stochastic %K / %D42.8 / 56.0
Williams %R-73.8
CCI-32
TSI / signal0.8 / -1.0
Chaikin money flow-0.05
ATR$5.95
Bollinger width7.4%
Volume vs 20-day avg1.13x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$253.23 (−1.3%)
SMA 50$257.08 (−2.8%)
SMA 200$242.73 (+3.0%)
EMA 21$254.31 (−1.7%)
EMA 50$254.26 (−1.7%)
EMA 200$244.95 (+2.1%)
Bollinger upper$262.56 (−4.8%)
Bollinger lower$243.89 (+2.5%)
Parabolic SAR$262.89 (−4.9%)
Open the live chart, 110+ indicators

About Amazon.com, Inc.

Amazon.com, Inc. operates a vast global retail enterprise, distributing consumer goods and subscription services through both its extensive online platforms and a network of physical stores across North America and internationally. Its operations are structured into three primary segments: North America, International, and Amazon Web Services (AWS). The company's product offerings encompass both merchandise and content procured for direct resale, alongside items sold by third-party merchants on its platform. Furthermore, the company develops and markets its own range of electronic devices, such as Kindle e-readers, Fire tablets and TVs, Ring, Blink, eero, and Echo products. It also invests in the development and production of original media content. Amazon provides various programs designed to enable independent sellers to offer their products, and empowers authors, musicians, filmmakers, Twitch streamers, and app developers to publish and commercialize their content. Beyond this, it delivers a comprehensive suite of cloud computing solutions, including compute, storage, database, analytics, and machine learning services through AWS. The company also offers fulfillment services, advertising solutions, and digital content subscriptions. A key offering is Amazon Prime, its exclusive membership program. Amazon caters to a wide array of clientele, including individual consumers, third-party sellers, software developers, enterprise clients, content creators, and advertisers. Incorporated in 1994, Amazon.com, Inc. maintains its headquarters in Seattle, Washington.

https://www.amazon.com

Key executives

NameTitlePayBorn
Andrew R. JassyPresident, Chief Executive Officer & Director$2.1M1968
Jeffrey BezosFounder & Executive Chairman$1.7M1964
Matthew S. GarmanChief Executive Officer of Amazon Web Series$617,2811977
Douglas J. HerringtonChief Executive Officer of Worldwide Amazon Stores$425,3651967
Brian T. OlsavskySenior Vice President & Chief Financial Officer$372,0001964
David A. ZapolskySenior VP and Chief Global Affairs & Legal Officer$372,0001964
Shelley L. ReynoldsVice President, Worldwide Controller & Principal Accounting Officer$163,2001965
Drew HerdenerSenior Vice President of Communications & Corporate Responsibility——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Andrew R. Jassy President and Chief Executive Officer2025$365,000$0$0$2.1M
Jeffrey P. Bezos Founder and Executive Chair2025$81,840$0$0$1.7M
Matthew S. Garman CEO Amazon Web Services2025$365,000$0$0$617,281
Douglas J. Herrington CEO Worldwide Amazon Stores2025$365,000$0$0$425,365
David A. Zapolsky SVP, Chief Global Affairs & Legal Officer2025$365,000$0$0$372,000
Brian T. Olsavsky SVP and Chief Financial Officer2025$365,000$0$0$372,000

Employees

648k2018798k20191,298k20201,608k20211,541k20221,525k20231,556k20241,576k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage69
Intangibles72
Switching costs56
Network effect70
Efficient scale90
Our component scores (0-100) and overall 69.8; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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