AMZNNasdaqRetail-Catalog & Mail-Order HousesFiscal year ends December 31
AMAZON COM INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$262.45+12.45 (+4.98%)
Close on Oct 19, 2026
- Market cap
- $2.86T
- P/E (TTM)
- 21.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
50.3%+10.7 pts over 5 years
Operating margin
11.2%+5.2 pts over 5 years
Net margin
10.8%+5.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.4% | +11.7% | +13.2% | +21.0% | |
| Gross profit | +15.7% | +17.0% | +18.7% | +26.1% | |
| Operating income | +16.6% | +86.9% | +28.4% | +43.0% | |
| Net income | +31.1% | – | +29.5% | +62.7% | |
| EPS, diluted | +29.7% | – | +28.0% | +60.7% | |
| Free cash flow | -76.6% | – | -21.6% | +0.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 14.5% | 27.4% | 22.3% | |
| Return on assets | 3.2% | 7.8% | 10.8% | |
| Current ratio | 1.04 | 1.05 | 1.05 | |
| Debt to equity | 0.45 | 0.35 | 0.17 | |
| Net debt to EBITDA | -0.91× | -0.20× | -0.12× | |
| Interest coverage | 8.6× | 13.9× | 35.2× | |
| Inventory turnover | 8.1× | 10.5× | 9.8× | |
| Capex to revenue | 5.7% | 10.4% | 18.4% | |
| Diluted shares | 9.68B | 10.20B | 10.83B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Amazon Com generated $433.42B from operations and spent $398.25B on capital expenditure, dividends and share buybacks. 98% of that went back into the business.
Generated
$433.42B
Used
$398.25B
Capital expenditure$392.25B98%Dividends$00%Share buybacks$6.00B2%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.8%
×Asset turnover0.99×
×Equity multiplier2.07×
=Return on equity, FY202522.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.8% | 0.99× | 2.07× | 22.3% |
| FY2024 | 9.3% | 1.11× | 2.36× | 24.3% |
| FY2023 | 5.3% | 1.16× | 2.85× | 17.5% |
| FY2022 | -0.5% | 1.16× | 3.11× | -1.9% |
| FY2021 | 7.1% | 1.27× | 3.20× | 28.8% |
| FY2020 | 5.5% | 1.41× | 3.51× | 27.4% |
| FY2019 | 4.1% | 1.45× | 3.67× | 21.9% |
| FY2018 | 4.3% | 1.58× | 4.13× | 28.3% |
| FY2017 | 1.7% | 1.66× | 4.57× | 12.9% |
| FY2016 | 1.7% | 1.84× | 4.53× | 14.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$77.67B
- Cash generatingOperating cash flow above zero$139.51B
- Return on assets improvedROA up on the prior year11.2% → 12.4%
- Earnings backed by cashOperating cash flow above net income$139.51B vs $77.67B
- Less leverageLong-term debt to assets fell8.4% → 8.0%
- Better liquidityCurrent ratio rose1.06 → 1.05
- No dilutionShare count did not rise10.72B → 10.83B
- Gross margin improvedGross margin up on the prior year48.85% → 50.29%
- More efficientAsset turnover rose1.21 → 1.15