AMAZON COM INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AMAZON COM INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	135,987	177,866	232,887	280,522	386,064	469,822	513,983	574,785	637,959	716,924
Cost of revenue	88,265	111,934	139,156	165,536	233,307	272,344	288,831	304,739	326,288	356,414
Gross profit	47,722	65,932	93,731	114,986	152,757	197,478	225,152	270,046	311,671	360,510
Selling and marketing	5,000
General and administrative	2,432	3,674	4,336	5,203	6,668	8,823	11,891	11,816	11,359	11,172
Operating income	4,186	4,106	12,421	14,541	22,899	24,879	12,248	36,852	68,593	79,975
Interest expense	484	848	1,417	1,600	1,647	1,809	2,367	3,182	2,406	2,274
Interest income	100	202	440	832	555	448	989	2,949	4,677	4,381
Other non-operating income	-294	-300	-1,160	-565	1,279	13,272	-18,184	705	21	17,336
Pre-tax income	3,892	3,806	11,261	13,976	24,178	38,151	-5,936	37,557	68,614	97,311
Income tax	1,425	769	1,197	2,374	2,863	4,791	-3,217	7,120	9,265	19,087
Net income	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248	77,670
EBITDA	12,302	15,584	27,762	36,330	48,079	59,312	54,169	85,515	121,388	145,731
EPS, basic	0.25	0.32	1.03	1.17	2.13	3.30	-0.27	2.95	5.66	7.29
EPS, diluted	0.24	0.31	1.01	1.15	2.09	3.24	-0.27	2.90	5.53	7.17
Shares, basic (weighted)	9,487	9,607	9,747	9,887	10,005	10,117	10,189	10,304	10,473	10,656
Shares, diluted (weighted)	9,687	9,867	10,007	10,087	10,198	10,296	10,189	10,492	10,721	10,827

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	19,334	20,522	31,750	36,092	42,122	36,220	53,888	73,387	78,779	86,810
Short-term investments	6,647	10,464	9,500	18,929	42,274	59,829	16,138	13,393	22,423	36,219
Receivables	8,339	13,164	16,677	20,816	24,542	32,891	42,360	52,253	55,451	67,729
Inventory	11,461	16,047	17,174	20,497	23,795	32,640	34,405	33,318	34,214	38,325
Other current assets							4,500	5,400	6,300	6,900
Total current assets	45,781	60,197	75,101	96,334	132,733	161,580	146,791	172,351	190,867	229,083
Property, plant and equipment	29,114	48,866	61,797	72,705	113,114	160,281	186,715	204,177	252,665	357,025
Lease right-of-use assets			0	25,141	37,553	56,082	66,123	72,513	76,141	86,054
Goodwill	3,784	13,350	14,548	14,754	15,017	15,371	20,288	22,789	23,074	23,273
Intangible assets	854	3,371	4,110	4,049	4,981	5,107	6,097	7,687	8,602	9,197
Other non-current assets	4,723	8,897	11,202	16,314	22,778	27,235	42,758	56,024	82,147	122,607
Total assets	83,402	131,310	162,648	225,248	321,195	420,549	462,675	527,854	624,894	818,042
Accounts payable	25,309	34,616	38,192	47,183	72,539	78,664	79,600	84,981	94,363	121,909
Accrued liabilities	13,739		23,663	32,439	44,138	51,775	62,566	64,709	66,965	75,520
Deferred revenue	4,768	5,097	6,536	8,190	9,708	11,827	13,227	15,227	18,103	20,576
Short-term debt	1,056	100	1,371	1,305	1,155	1,491	2,999	8,494	5,017	2,748
Total current liabilities	43,816	57,883	68,391	87,812	126,385	142,266	155,393	164,917	179,431	218,005
Long-term debt	7,694	24,743	23,495	23,414	31,816	48,744	67,150	58,314	52,623	65,648
Lease liabilities				22,696	34,513	51,981	61,582	67,220	69,050	76,597
Other non-current liabilities	12,607	20,975	17,563	12,171	17,017	23,643	21,121	25,451	28,593	35,985
Total liabilities	64,117	103,601	119,099	163,188	227,791	282,304	316,632	325,979	338,924	406,977
Total debt	8,838	24,942	24,965	24,820	33,174	50,553	70,542	67,182	58,000	68,836
Paid-in capital	17,186	21,389	26,791	33,658	42,865	55,437	75,066	99,025	120,864	140,024
Retained earnings	4,916	8,636	19,625	31,220	52,551	85,915	83,193	113,618	172,866	250,536
Treasury stock	-1,837	-1,837	-1,837	-1,837	-1,837	-1,837	-7,837	-7,837	-7,837	-7,837
Other comprehensive income	-985	-484	-1,035	-986	-180	-1,376	-4,487	-3,040	-34	28,230
Shareholders' equity	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970	411,065
Total equity	19,285	27,709	43,549	62,060	93,404	138,245	146,043	201,875	285,970	411,065
Total liabilities and equity	83,402	131,310	162,648	225,248	321,195	420,549	462,675	527,854	624,894	818,042
Shares outstanding	9,547	9,687	9,827	9,967	503	10,175	10,242	10,383	10,593	10,731

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	2,371	3,033	10,073	11,588	21,331	33,364	-2,722	30,425	59,248	77,670
Depreciation and amortization	8,116	11,478	15,341	21,789	25,180	34,433	41,921	48,663	52,795	65,756
Stock-based compensation	2,975	4,215	5,418	6,864	9,208	12,757	19,621	24,023	22,011	19,467
Deferred income tax	-246	-29	441	796	-554	-310	-8,148	-5,876	-4,648	11,470
Change in inventory	-1,426	-3,583	-1,314	-3,278	-2,849	-9,487	-2,592	1,449	-1,884	-3,002
Change in payables	5,030	7,100	3,263	8,193	17,480	3,602	2,945	5,473	2,972	11,231
Cash from operations	17,203	18,365	30,723	38,514	66,064	46,327	46,752	84,946	115,877	139,514
Capital expenditures	-6,737	-11,955	-13,427	-16,861	-40,140	-61,053	-63,645	-52,729	-82,999	-131,819
Acquisitions	-116	-13,972	-2,186	-2,461
Purchases of investments	-7,240	-12,731	-7,100	-31,812	-72,479	-60,157	-2,565	-1,488	-26,005	-54,770
Sales and maturities of investments	4,733	9,677	8,240	22,681	50,237	59,384	31,601	5,627	16,403	44,386
Cash from investing	-9,516	-27,084	-12,369	-24,281	-59,611	-58,154	-37,601	-49,833	-94,342	-142,545
Debt issued	618	16,228	182	871	10,525	19,003	21,166	0	0	15,673
Debt repaid	-327	-1,301	-155	-1,166	-1,553	-1,590	-1,258	-3,676	-9,182	-5,021
Share buybacks					0	0	-6,000	0	0
Cash from financing	-3,716	9,928	-7,686	-10,066	-1,104	6,291	9,718	-15,879	-11,812	9,661
Exchange rate effect	-212	713	-351	70	618	-364
Net change in cash	3,759	1,922	10,317	4,237	5,967	-5,900	17,776	19,637	8,422	7,794
Free cash flow	10,466	6,410	17,296	21,653	25,924	-14,726	-16,893	32,217	32,878	7,695
Interest paid	290
Income taxes paid	412	957	1,184	881	1,713	3,688	6,035	11,179	12,308	8,295

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $249.67 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	50.8%	Gross profit / revenue.
Operating margin	12.1%	Operating income / revenue.
EBITDA margin	21.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	22.6%	Pre-tax income / revenue.
Net margin	17.4%	Net income / revenue.
FCF margin	-1.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.8%	Cash from operations / revenue.
Effective tax rate	22.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	24.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.3%	Net income / average total assets.
Return on invested capital (ROIC)	12.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	22.3%	Capital expenditures / revenue.
D&A / revenue	9.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	15.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	18.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	16.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	86.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	28.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	20.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	39.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	24.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	31.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	29.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	29.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	28.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	20.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	44.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-76.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-21.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	43.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	41.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	34.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	30.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	20.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	20.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.03x	Current assets / current liabilities.
Quick ratio	0.87x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.51x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.24x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	12.1%	Total debt / total assets.
Liabilities / assets	49.7%	Total liabilities / total assets.
Net debt	$10.01B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.06x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	28.1x	Operating income / interest expense.
Working capital	$7.99B	Current assets - current liabilities.
Goodwill and intangibles / assets	2.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$528.12B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.71x	Revenue / average total assets.
Fixed asset turnover	1.74x	Revenue / average property, plant and equipment.
Inventory turnover	10.0x	Cost of revenue / average inventory.
Days inventory	36 days	365 x average inventory / cost of revenue.
Receivables turnover	8.81x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
Days payables	141 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-63 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-8.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	107.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$12.41	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$71.14	Revenue / diluted weighted shares.
FCF per share	-$1.07	Free cash flow / diluted weighted shares.
Operating cash flow per share	$14.80	Cash from operations / diluted weighted shares.
Book value per share	$51.16	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$48.98	Tangible book value / shares outstanding.
Cash per share	$11.41	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.69T	Share price x shares outstanding.
Enterprise value	$2.70T	Market cap + total debt - cash - short-term investments.
P/E	19.9x	Market cap / net income. Only when net income is positive.
P/S	3.47x	Market cap / revenue.
P/B	4.88x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.10x	Market cap / tangible book value, when positive.
P/OCF	16.7x	Market cap / cash from operations, when positive.
EV/Sales	3.48x	Enterprise value / revenue.
EV/EBIT	28.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	16.0x	Enterprise value / EBITDA, when both are positive.
FCF yield	-0.4%	Free cash flow / market cap.
Earnings yield	5.0%	Net income / market cap (the inverse of P/E).

What was AMAZON COM INC's revenue in fiscal 2025?

AMAZON COM INC reported revenue of $716.92B for fiscal 2025, 12.4% higher than the year before.

Was AMAZON COM INC profitable in fiscal 2025?

Yes. Net income was $77.67B, a net margin of 10.8%.

How much free cash flow did AMAZON COM INC generate in fiscal 2025?

Cash from operations of $139.51B minus capital expenditures of $131.82B left free cash flow of $7.70B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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