| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $637.96B | $574.78B | $513.98B | $469.82B | $386.06B | $280.52B | $232.89B | $177.87B |
| Cost of Revenue | $326.29B | $304.74B | $288.83B | $272.34B | $233.31B | $165.54B | $139.16B | $111.93B |
| Gross Profit | $311.67B | $270.05B | $225.15B | $197.48B | $152.76B | $114.99B | $93.73B | $65.93B |
| Gross Margin | 48.85% | 46.98% | 43.81% | 42.03% | 39.57% | 40.99% | 40.25% | 37.07% |
| Operating Expenses | $243.08B | $233.19B | $212.90B | $172.60B | $129.86B | $100.44B | $81.31B | $61.83B |
| Operating Income | $68.59B | $36.85B | $12.25B | $24.88B | $22.90B | $14.54B | $12.42B | $4.11B |
| Operating Margin | 10.75% | 6.41% | 2.38% | 5.30% | 5.93% | 5.18% | 5.33% | 2.31% |
| Net Income | $59.25B | $30.43B | $-2.72B | $33.36B | $21.33B | $11.59B | $10.07B | $3.03B |
| Net Margin | 9.29% | 5.29% | -0.53% | 7.10% | 5.53% | 4.13% | 4.33% | 1.71% |
| EPS (Basic) | $5.66 | $2.95 | $-0.27 | $3.30 | $2.13 | $1.17 | $1.03 | $0.32 |
| EBITDA | $123.81B | $89.40B | $38.35B | $74.39B | $51.01B | $37.37B | $28.02B | $16.13B |
| Stock Option Compensation Expense | $22.01B | $24.02B | $19.62B | $12.76B | $9.21B | $6.86B | $5.42B | $4.21B |
| Price To Earnings Ratio | 38.78 | 51.46 | -314.43 | 50.57 | 76.34 | 78.77 | 72.62 | 185.07 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | $2.30T | $1.57T | $855.88B | $1.69T | $1.63T | $912.81B | $731.47B | $561.31B |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $624.89B | $527.85B | $462.68B | $420.55B | $321.19B | $225.25B | $162.65B | $131.31B |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $338.92B | $325.98B | $316.63B | $282.30B | $227.79B | $163.19B | $119.10B | $103.60B |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $285.97B | $201.88B | $146.04B | $138.25B | $93.40B | $62.06B | $43.55B | $27.71B |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $285.97B | $201.88B | $146.04B | $138.25B | $93.40B | $62.06B | $43.55B | $27.71B |
| Total Liabilities & Stockholders Equity | $624.89B | $527.85B | $462.68B | $420.55B | $321.19B | $225.25B | $162.65B | $131.31B |
| Book Value Per Share | $27.31 | $19.59 | $14.33 | $13.66 | $9.34 | $6.28 | $4.47 | $2.89 |
| Tangible Book Value Per Share | $24.28 | $16.63 | $11.74 | $11.64 | $7.34 | $4.38 | $2.56 | $1.14 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 9.48% | 5.76% | -0.59% | 7.93% | 6.64% | 5.14% | 6.19% | 2.31% |
| Return on Equity | 20.72% | 15.07% | -1.86% | 24.13% | 22.84% | 18.67% | 23.13% | 10.95% |
| Return on Invested Capital | 13.32% | 8.23% | 1.83% | 7.82% | 10.36% | 8.78% | 11.78% | 4.46% |
| Quick Ratio | 0.87 | 0.84 | 0.72 | 0.91 | 0.86 | 0.86 | 0.85 | 0.76 |
| Current Ratio | 1.06 | 1.05 | 0.94 | 1.14 | 1.05 | 1.10 | 1.10 | 1.04 |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $59.25B | $30.43B | $-2.72B | $33.36B | $21.33B | $11.59B | $10.07B | $3.03B |
| Depreciation | $52.80B | $48.66B | $41.92B | $34.43B | $25.18B | $21.79B | $15.34B | $11.48B |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $115.88B | $84.95B | $46.75B | $46.33B | $66.06B | $38.51B | $30.72B | $18.36B |
| Capital Expenditures | $83.00B | $52.73B | $63.65B | $61.05B | $40.14B | $16.86B | $13.43B | $11.96B |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | $0.00 | $0.00 | $6.00B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $32.88B | $32.22B | $-16.89B | $-14.73B | $25.92B | $21.65B | $17.30B | $6.41B |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Company coverage
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.
Why it moved over time
Amazon is being repriced after reports highlighted its planned $220 billion 2026 capex, negative trailing free cash flow and rising debt, which help explain valuation pressure despite AWS acceleration.
Key fact: Planned $220 billion capex for 2026; trailing free cash flow -$7.6B; long-term debt rose to $129B.
The Motley Fool: Amazon Grew Revenue 20%. Here's the Only Reason I Can Think Of for Why Amazon Trades at Just 22 Times Forward Earnings.Amazon is under scrutiny after a report it will boost capital expenditures to $220 billion this year, raising concerns about increased borrowing and pressure on future earnings and valuation.
Key fact: Amazon will spend $220 billion on capital expenditures this year, up from $132 billion in 2025.
fool.com: Amazon Grew Revenue 20%. Here's the Only Reason I Can Think Of for Why Amazon Trades at Just 22 Times Forward Earnings.Internal reports that Amazon is overhauling an Indiana data center to support its AGI team's frontier model suggest renewed AI infrastructure spending, implying higher cloud capex and continued investment in Amazon's AI growth plans.
Key fact: Internal documents show Amazon is upgrading an Indiana data center to support its AGI team's frontier model effort.
businessinsider.com: Internal Amazon documents reveal a major overhaul of one of the world's biggest AI data centersAmazon's quarterly results highlighted accelerating AWS revenue and margin expansion, strengthening the profit outlook and justifying heavier capex and AI infrastructure plans—likely the primary catalyst for recent market attention.
Key fact: AWS drives 60.3% of Amazon's operating income.
finbold.com: Monster insider trading alert for Amazon stockAmazon's quarterly results highlighted accelerating AWS revenue and margin expansion, lifting valuation above $3 trillion and reinforcing AI-driven cloud growth as the near-term catalyst for investor interest.
Key fact: Quarterly results highlighted accelerating AWS revenue and margin expansion.
finbold.com: Monster insider trading alert for Amazon stockAmazon reported accelerating revenue and abnormally large profit growth—boosted by Anthropic paper gains—while CEO Andy Jassy projected AWS could reach $1 trillion, creating an earnings-driven catalyst for investors.
Key fact: Quarterly results showed accelerating revenue and abnormally large profit growth aided by paper gains on Anthropic, and CEO Andy Jassy outlined a $1 trillion revenue vision for AWS.
fool.com: Up Just 2% and Still Dominant: Is Amazon the 1 Growth Stock Worth Buying Right Now?Q2 results showed AWS revenue up 37%, the strongest cloud growth in over four years, signaling that Amazon's AI-related cloud investments are driving demand and easing investor concerns.
Key fact: AWS sales jumped 37% to $42.2 billion, accelerating from 28% growth in the prior quarter.
reuters.com: Amazon jumps as AWS growth soothes fears over rising AI spendingAmazon is set to report Q2 earnings today, with expectations of accelerating AWS revenue (31%-33% consensus, possibly >35%), a print investors will weigh against its $200 billion 2026 AI capex commitment.
Key fact: Analysts forecast AWS revenue growth of 31%-33% year-over-year for Q2, with some expecting it could exceed 35%.
The Motley Fool: Is Microsoft a Buy After Its Latest Earnings Report?Shares are moving as investors position ahead of Amazon's July 30 Q2 earnings, focusing on whether AWS growth will accelerate (consensus ~31–33% y/y) and justify Amazon's $200B 2026 AI capex commitment.
Key fact: Analysts forecast AWS revenue growth of 31%–33% year-over-year for Q2, with some predicting it could exceed 35%.
The Motley Fool: Prediction: Amazon's Earnings Report Shows That AWS Growth Accelerates