AMZN
SP100NasdaqGSAmazon.com, Inc.
Consumer Cyclical · Internet Retail · United States
Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, fire tablets, fire TVs, echo, ring, blink, and eero; and develops and produces media content. In addition, the company offers programs that enable sellers to sell their products in its stores; and programs that allow authors, independent publishers, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content. Further, it provides compute, storage, Artificial intelligence, database, analytics, machine learning, and other services, as well as advertising services through programs, such as sponsored ads, display, and video advertising. Additionally, the company offers Amazon Prime, a membership program. The company's products offered through its stores include merchandise and content purchased for resale and products offered by third-party sellers. It serves consumers, sellers, developers, enterprises, content creators, advertisers, and employees. The company was incorporated in 1994 and is headquartered in Seattle, Washington.
www.amazon.com ↗Shares trade at a premium 31.6× trailing earnings, easing to 24.5× on forward estimates. Profitability shows a net margin of 12.2% and return on equity of 24.3%. Leverage is modest at 0.6× net debt/EBITDA. Revenue grew 16.6% year-on-year. The mean analyst target of USD312.91 sits 28.9% above the current price (Strong Buy, 62 analysts).
business model
Amazon operates a diversified model spanning online and physical retail, third-party marketplace services, subscriptions, advertising, and cloud computing. It earns retail margins and marketplace/fulfillment fees, subscription revenue from Prime, high-margin advertising, and cloud infrastructure fees through AWS.
revenue segments
Segments include North America retail (largest by revenue), International retail, and AWS (the primary profit driver). Within these, third-party seller services, advertising, and Prime subscriptions are large and fast-growing; AWS generates the majority of operating income despite being a minority of revenue.
key dependencies
Depends on consumer spending, a vast fulfillment and logistics network, third-party sellers, cloud customers' IT budgets, and heavy capital investment in data centers (including AI infrastructure). It relies on labor availability, energy, and semiconductor/hardware supply, and faces antitrust scrutiny.
competitors
Competes with Walmart, Target, Alibaba, and other retailers; Microsoft Azure and Google Cloud in cloud; Google and Meta in advertising; and Netflix/Disney in streaming, among others.
moat
Wide moat from massive scale, the Prime loyalty flywheel, an unmatched fulfillment network, AWS's leading cloud position with high switching costs, a dominant marketplace with network effects, and a growing high-margin ad business.
risks
Risks include retail margin pressure and consumer cyclicality, intensifying cloud competition and AI-driven capex, regulatory/antitrust actions (FTC lawsuit), labor and unionization pressures, and large ongoing investment requirements.
Financials & metrics
as of 27 Aug 2026Price is closer to the high end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $716.92B | $637.96B | $574.78B | $513.98B | — |
| Cost of revenue | $356.41B | $326.29B | $304.74B | $288.83B | — |
| Gross profit | $360.51B | $311.67B | $270.05B | $225.15B | — |
| Operating expense | $280.54B | $243.08B | $233.19B | $212.90B | — |
| Operating income | $79.97B | $68.59B | $36.85B | $12.25B | — |
| Interest expense | $2.27B | $2.41B | $3.18B | $2.37B | — |
| Pretax income | $97.31B | $68.61B | $37.56B | -$5.94B | — |
| Net income | $77.67B | $59.25B | $30.43B | -$2.72B | — |
| EBITDA | $165.34B | $123.81B | $89.40B | $38.35B | — |
| Diluted EPS | $7.17 | $5.53 | $2.90 | -$0.27 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $818.04B | $624.89B | $527.85B | $462.68B | — |
| Current assets | $229.08B | $190.87B | $172.35B | $146.79B | — |
| Cash & equivalents | $86.81B | $78.78B | $73.39B | $53.89B | — |
| Inventory | $38.33B | $34.21B | $33.32B | $34.41B | — |
| Total liabilities | $406.98B | $338.92B | $325.98B | $316.63B | — |
| Current liabilities | $218.00B | $179.43B | $164.92B | $155.39B | — |
| Total debt | $152.99B | $130.90B | $135.61B | $140.12B | — |
| Long-term debt | $65.65B | $52.62B | $58.31B | $67.15B | — |
| Shareholders' equity | $411.06B | $285.97B | $201.88B | $146.04B | — |
| Retained earnings | $250.54B | $172.87B | $113.62B | $83.19B | — |
| Working capital | $11.08B | $11.44B | $7.43B | -$8.60B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $139.51B | $115.88B | $84.95B | $46.75B | — |
| Investing cash flow | -$142.54B | -$94.34B | -$49.83B | -$37.60B | — |
| Financing cash flow | $9.66B | -$11.81B | -$15.88B | $9.72B | — |
| Capital expenditure | -$131.82B | -$83.00B | -$52.73B | -$63.65B | — |
| Free cash flow | $7.70B | $32.88B | $32.22B | -$16.89B | — |
| Share buybacks | — | $0.00 | $0.00 | -$6.00B | $0.00 |
| End cash position | $90.11B | $82.31B | $73.89B | $54.25B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 27 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 27 Aug 2026News
Sector peers
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