Amazon Com Financials

AMZN

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Amazon Com (AMZN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$716.9B

YoY+12.4%

5Y CAGR+13.2%

10Y CAGR+21.0%

Amazon Com generated $716.9B in revenue in fiscal year 2025. This represents an increase of 12.4% from the prior year.

EBITDA

$145.7B

YoY+20.1%

5Y CAGR+24.8%

10Y CAGR+32.8%

Amazon Com's EBITDA was $145.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.1% from the prior year.

Free Cash Flow

$7.7B

YoY-76.6%

5Y CAGR-21.6%

10Y CAGR+0.3%

Amazon Com generated $7.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 76.6% from the prior year.

Net Income

$77.7B

YoY+31.1%

5Y CAGR+29.5%

10Y CAGR+62.7%

Amazon Com reported $77.7B in net income in fiscal year 2025. This represents an increase of 31.1% from the prior year.

EPS (Diluted)

$7.17

YoY+29.7%

5Y CAGR+28.0%

10Y CAGR+19.1%

Amazon Com earned $7.17 per diluted share (EPS) in fiscal year 2025. This represents an increase of 29.7% from the prior year.

Cash & Debt

$86.8B

YoY+10.2%

5Y CAGR+15.6%

10Y CAGR+18.5%

Amazon Com held $86.8B in cash against $65.6B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

10.73B

YoY+1.3%

5Y CAGR+84.4%

10Y CAGR+36.7%

Amazon Com had 10.73B shares outstanding in fiscal year 2025. This represents an increase of 1.3% from the prior year.

Gross Margin

50.3%

YoY+1.4pp

5Y CAGR+10.7pp

10Y CAGR+17.3pp

Amazon Com's gross margin was 50.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the prior year.

Operating Margin

11.2%

YoY+0.4pp

5Y CAGR+5.2pp

10Y CAGR+9.1pp

Amazon Com's operating margin was 11.2% in fiscal year 2025, reflecting core business profitability. This is up 0.4 percentage points from the prior year.

Net Margin

10.8%

YoY+1.5pp

5Y CAGR+5.3pp

10Y CAGR+10.3pp

Amazon Com's net profit margin was 10.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.5 percentage points from the prior year.

Return on Equity

18.9%

YoY-1.8pp

5Y CAGR-3.9pp

10Y CAGR+14.4pp

Amazon Com's ROE was 18.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$131.8B

YoY+58.8%

5Y CAGR+26.8%

10Y CAGR+39.9%

Amazon Com invested $131.8B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 58.8% from the prior year.

AMZN Income Statement

Metric	FY25	FY25	FY25	FY24	FY23	FY22
Revenue	$716.9B+12.4%	$638.0B+11.0%	$574.8B+11.8%	$514.0B+9.4%	$469.8B+21.7%	$386.1B
Cost of Revenue	$356.4B+9.2%	$326.3B+7.1%	$304.7B+5.5%	$288.8B+6.1%	$272.3B+16.7%	$233.3B
Gross Profit	$360.5B+15.7%	$311.7B+15.4%	$270.0B+19.9%	$225.2B+14.0%	$197.5B+29.3%	$152.8B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$11.2B-1.6%	$11.4B-3.9%	$11.8B-0.6%	$11.9B+34.8%	$8.8B+32.3%	$6.7B
Operating Income	$80.0B+16.6%	$68.6B+86.1%	$36.9B+200.9%	$12.2B-50.8%	$24.9B+8.6%	$22.9B
Interest Expense	$2.3B-5.5%	$2.4B-24.4%	$3.2B+34.4%	$2.4B+30.8%	$1.8B+9.8%	$1.6B
Income Tax	$19.1B+106.0%	$9.3B+30.1%	$7.1B+321.3%	-$3.2B-167.1%	$4.8B+67.3%	$2.9B
Net Income	$77.7B+31.1%	$59.2B+94.7%	$30.4B+1217.7%	-$2.7B-108.2%	$33.4B+56.4%	$21.3B
EPS (Diluted)	$7.17+29.7%	$5.53+90.7%	$2.90+1174.1%	$-0.27-108.3%	$3.24+55.0%	$2.09

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	N/A	$180.2B+7.4%	$167.7B+7.7%	$155.7B	N/A	$158.9B+7.4%	$148.0B+3.3%	$143.3B
Cost of Revenue	N/A	$88.7B+9.7%	$80.8B+5.0%	$77.0B	N/A	$81.0B+9.7%	$73.8B+1.6%	$72.6B
Gross Profit	N/A	$91.5B+5.3%	$86.9B+10.4%	$78.7B	N/A	$77.9B+5.0%	$74.2B+5.0%	$70.7B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$2.9B-3.0%	$3.0B+12.8%	$2.6B	N/A	$2.7B-10.8%	$3.0B+10.9%	$2.7B
Operating Income	N/A	$17.4B-9.1%	$19.2B+4.2%	$18.4B	N/A	$17.4B+18.7%	$14.7B-4.1%	$15.3B
Interest Expense	N/A	$538.0M+4.3%	$516.0M-4.6%	$541.0M	N/A	$603.0M+2.4%	$589.0M-8.5%	$644.0M
Income Tax	N/A	$6.9B+158.0%	$2.7B-41.2%	$4.6B	N/A	$2.7B+53.1%	$1.8B-28.4%	$2.5B
Net Income	N/A	$21.2B+16.6%	$18.2B+6.1%	$17.1B	N/A	$15.3B+13.7%	$13.5B+29.3%	$10.4B
EPS (Diluted)	N/A	$1.95+16.1%	$1.68+5.7%	$1.59	N/A	$1.43+13.5%	$1.26+28.6%	$0.98

AMZN Balance Sheet

Metric	FY25	FY25	FY25	FY24	FY23	FY22
Total Assets	$818.0B+30.9%	$624.9B+18.4%	$527.9B+14.1%	$462.7B+10.0%	$420.5B+30.9%	$321.2B
Current Assets	$229.1B+20.0%	$190.9B+10.7%	$172.4B+17.4%	$146.8B-9.2%	$161.6B+21.7%	$132.7B
Cash & Equivalents	$86.8B+10.2%	$78.8B+7.3%	$73.4B+36.2%	$53.9B+48.8%	$36.2B-14.0%	$42.1B
Inventory	$38.3B+12.0%	$34.2B+2.7%	$33.3B-3.2%	$34.4B+5.4%	$32.6B+37.2%	$23.8B
Accounts Receivable	$67.7B+22.1%	$55.5B+6.1%	$52.3B+23.4%	$42.4B+28.8%	$32.9B+34.0%	$24.5B
Goodwill	$23.3B+0.9%	$23.1B+1.3%	$22.8B+12.3%	$20.3B+32.0%	$15.4B+2.4%	$15.0B
Total Liabilities	$407.0B+20.1%	$338.9B+4.0%	$326.0B+3.0%	$316.6B+12.2%	$282.3B+23.9%	$227.8B
Current Liabilities	$218.0B+21.5%	$179.4B+8.8%	$164.9B+6.1%	$155.4B+9.2%	$142.3B+12.6%	$126.4B
Long-Term Debt	$65.6B+24.8%	$52.6B-9.8%	$58.3B-13.2%	$67.2B+37.8%	$48.7B+53.2%	$31.8B
Total Equity	$411.1B+43.7%	$286.0B+41.7%	$201.9B+38.2%	$146.0B+5.6%	$138.2B+48.0%	$93.4B
Retained Earnings	$250.5B+44.9%	$172.9B+52.1%	$113.6B+36.6%	$83.2B-3.2%	$85.9B+63.5%	$52.6B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$818.0B+12.4%	$727.9B+6.7%	$682.2B+6.0%	$643.3B+2.9%	$624.9B+6.9%	$584.6B+5.4%	$554.8B+4.5%	$531.0B
Current Assets	$229.1B+16.4%	$196.9B+2.8%	$191.4B+3.7%	$184.6B-3.3%	$190.9B+8.6%	$175.8B+1.4%	$173.3B+5.7%	$164.0B
Cash & Equivalents	$86.8B+29.7%	$66.9B+15.9%	$57.7B-12.8%	$66.2B-16.0%	$78.8B+4.9%	$75.1B+5.5%	$71.2B-2.3%	$72.9B
Inventory	$38.3B-7.6%	$41.5B+1.6%	$40.8B+13.8%	$35.9B+4.8%	$34.2B-5.2%	$36.1B+5.8%	$34.1B+9.5%	$31.1B
Accounts Receivable	$67.7B+10.7%	$61.2B+6.5%	$57.4B+5.9%	$54.2B-2.2%	$55.5B+7.4%	$51.6B+3.1%	$50.1B+4.9%	$47.8B
Goodwill	$23.3B+0.1%	$23.3B+0.5%	$23.2B+0.3%	$23.1B+0.1%	$23.1B0.0%	$23.1B+0.9%	$22.9B+0.5%	$22.8B
Total Liabilities	$407.0B+13.6%	$358.3B+2.8%	$348.4B+3.3%	$337.4B-0.5%	$338.9B+4.1%	$325.5B+2.2%	$318.4B+1.3%	$314.3B
Current Liabilities	$218.0B+11.7%	$195.2B+4.4%	$186.9B+6.1%	$176.2B-1.8%	$179.4B+11.1%	$161.5B+2.1%	$158.2B+3.4%	$153.0B
Long-Term Debt	$65.6B+29.4%	$50.7B0.0%	$50.7B-5.0%	$53.4B+1.4%	$52.6B-4.1%	$54.9B0.0%	$54.9B-4.8%	$57.6B
Total Equity	$411.1B+11.2%	$369.6B+10.7%	$333.8B+9.1%	$305.9B+7.0%	$286.0B+10.3%	$259.2B+9.6%	$236.4B+9.1%	$216.7B
Retained Earnings	$250.5B+9.2%	$229.3B+10.2%	$208.2B+9.6%	$190.0B+9.9%	$172.9B+13.1%	$152.9B+11.1%	$137.5B+10.9%	$124.0B

AMZN Cash Flow Statement

Metric	FY25	FY25	FY25	FY24	FY23	FY22
Operating Cash Flow	$139.5B+20.4%	$115.9B+36.4%	$84.9B+81.7%	$46.8B+0.9%	$46.3B-29.9%	$66.1B
Capital Expenditures	$131.8B+58.8%	$83.0B+57.4%	$52.7B-17.2%	$63.6B+4.2%	$61.1B+52.1%	$40.1B
Free Cash Flow	$7.7B-76.6%	$32.9B+2.1%	$32.2B+290.7%	-$16.9B-14.7%	-$14.7B-156.8%	$25.9B
Investing Cash Flow	-$142.5B-51.1%	-$94.3B-89.3%	-$49.8B-32.5%	-$37.6B+35.3%	-$58.2B+2.4%	-$59.6B
Financing Cash Flow	$9.7B+181.8%	-$11.8B+25.6%	-$15.9B-263.4%	$9.7B+54.5%	$6.3B+669.8%	-$1.1B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0	$0-100.0%	$6.0B	$0	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	N/A	$35.5B+9.3%	$32.5B+91.1%	$17.0B	N/A	$26.0B+2.7%	$25.3B+33.1%	$19.0B
Capital Expenditures	N/A	$35.1B+9.0%	$32.2B+28.6%	$25.0B	N/A	$22.6B+28.4%	$17.6B+18.1%	$14.9B
Free Cash Flow	N/A	$430.0M+29.5%	$332.0M+104.1%	-$8.0B	N/A	$3.4B-56.3%	$7.7B+88.5%	$4.1B
Investing Cash Flow	N/A	-$26.1B+33.9%	-$39.4B-32.3%	-$29.8B	N/A	-$16.9B+23.7%	-$22.1B-23.9%	-$17.9B
Financing Cash Flow	N/A	-$44.0M+98.3%	-$2.5B-5302.1%	-$47.0M	N/A	-$2.8B+38.6%	-$4.5B-257.5%	-$1.3B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0

AMZN Financial Ratios

Metric	FY25	FY25	FY25	FY24	FY23	FY22
Gross Margin	50.3%+1.4pp	48.9%+1.9pp	47.0%+3.2pp	43.8%+1.8pp	42.0%+2.5pp	39.6%
Operating Margin	11.2%+0.4pp	10.8%+4.3pp	6.4%+4.0pp	2.4%-2.9pp	5.3%-0.6pp	5.9%
Net Margin	10.8%+1.5pp	9.3%+4.0pp	5.3%+5.8pp	-0.5%-7.6pp	7.1%+1.6pp	5.5%
Return on Equity	18.9%-1.8pp	20.7%+5.6pp	15.1%	N/A	24.1%+1.3pp	22.8%
Return on Assets	9.5%+0.0pp	9.5%+3.7pp	5.8%+6.3pp	-0.6%-8.5pp	7.9%+1.3pp	6.6%
Current Ratio	1.05-0.0	1.06+0.0	1.05+0.1	0.94-0.2	1.14+0.1	1.05
Debt-to-Equity	0.16-0.0	0.18-0.1	0.29-0.2	0.46+0.1	0.35+0.0	0.34
FCF Margin	1.1%-4.1pp	5.1%-0.5pp	5.6%+8.9pp	-3.3%-0.2pp	-3.1%-9.8pp	6.7%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	N/A	50.8%-1.0pp	51.8%+1.3pp	50.5%	N/A	49.0%-1.1pp	50.1%+0.8pp	49.3%
Operating Margin	N/A	9.7%-1.8pp	11.4%-0.4pp	11.8%	N/A	11.0%+1.0pp	9.9%-0.8pp	10.7%
Net Margin	N/A	11.8%+0.9pp	10.8%-0.2pp	11.0%	N/A	9.7%+0.5pp	9.1%+1.8pp	7.3%
Return on Equity	N/A	5.7%+0.3pp	5.4%-0.2pp	5.6%	N/A	5.9%+0.2pp	5.7%+0.9pp	4.8%
Return on Assets	N/A	2.9%+0.3pp	2.7%0.0pp	2.7%	N/A	2.6%+0.2pp	2.4%+0.5pp	2.0%
Current Ratio	1.05+0.0	1.01-0.0	1.02-0.0	1.05-0.0	1.06-0.0	1.090.0	1.10+0.0	1.07
Debt-to-Equity	0.16+0.0	0.14-0.0	0.15-0.0	0.170.0	0.18-0.0	0.21-0.0	0.23-0.0	0.27
FCF Margin	N/A	0.2%+0.0pp	0.2%+5.3pp	-5.1%	N/A	2.1%-3.1pp	5.2%+2.3pp	2.8%

Financial Health Signals

Financial Profile 54/100

Profitability

Growth

Leverage

100

Liquidity

Cash Flow

Returns

Based on FY2025 annual data. Scores normalized against common benchmarks.

Altman Z-Score Safe

4.80

Bankruptcy risk indicator. Above 2.99 = safe, below 1.81 = distress.

Piotroski F-Score Neutral

6/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Cash-Backed

1.80x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage Safe

35.2x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is Amazon Com's annual revenue?

Amazon Com (AMZN) reported $716.9B in total revenue for fiscal year 2025. This represents a 12.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Amazon Com's revenue growing?

Amazon Com (AMZN) revenue grew by 12.4% year-over-year, from $638.0B to $716.9B in fiscal year 2025.

Is Amazon Com profitable?

Yes, Amazon Com (AMZN) reported a net income of $77.7B in fiscal year 2025, with a net profit margin of 10.8%.

What is Amazon Com's earnings per share (EPS)?

Amazon Com (AMZN) reported diluted earnings per share of $7.17 for fiscal year 2025. This represents a 29.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Amazon Com's EBITDA?

Amazon Com (AMZN) had EBITDA of $145.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Amazon Com have?

As of fiscal year 2025, Amazon Com (AMZN) had $86.8B in cash and equivalents against $65.6B in long-term debt.

What is Amazon Com's gross margin?

Amazon Com (AMZN) had a gross margin of 50.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Amazon Com's operating margin?

Amazon Com (AMZN) had an operating margin of 11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Amazon Com's net profit margin?

Amazon Com (AMZN) had a net profit margin of 10.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Amazon Com's return on equity (ROE)?

Amazon Com (AMZN) has a return on equity of 18.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Amazon Com's free cash flow?

Amazon Com (AMZN) generated $7.7B in free cash flow during fiscal year 2025. This represents a -76.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Amazon Com's operating cash flow?

Amazon Com (AMZN) generated $139.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Amazon Com's total assets?

Amazon Com (AMZN) had $818.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Amazon Com's capital expenditures?

Amazon Com (AMZN) invested $131.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Amazon Com have outstanding?

Amazon Com (AMZN) had 10.73B shares outstanding as of fiscal year 2025.

What is Amazon Com's current ratio?

Amazon Com (AMZN) had a current ratio of 1.05 as of fiscal year 2025, which is considered adequate.

What is Amazon Com's debt-to-equity ratio?

Amazon Com (AMZN) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Amazon Com's return on assets (ROA)?

Amazon Com (AMZN) had a return on assets of 9.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Amazon Com's Altman Z-Score?

Amazon Com (AMZN) has an Altman Z-Score of 4.80, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress.

What is Amazon Com's Piotroski F-Score?

Amazon Com (AMZN) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Amazon Com's earnings high quality?

Amazon Com (AMZN) has an earnings quality ratio of 1.80x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can Amazon Com cover its interest payments?

Amazon Com (AMZN) has an interest coverage ratio of 35.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.

How financially healthy is Amazon Com?

Amazon Com (AMZN) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.