Amazon.com, Inc. (AMZN) financials
NASDAQ · Consumer Cyclical · Specialty Retail · 1,576,000 employees · CEO Andrew R. Jassy
- Price
- $240.35 -1.41%
- Market cap
- $2.59T
- Enterprise value
- $2.81T
- Last report
- Q3 '26 filed 2026-10-30
- Next report
- 2027-02-04 EPS est. $2.42
Revenue (TTM)$797B+15.4% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)13.1%+2.1 pp vs a year agoOperating income $104B
Net income (TTM)$135B+76.2% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$46.9B-544.1% vs a year agoCapex $215B
Diluted EPS (TTM)$12.37+74.7% vs a year agoSum of the last 4 quarters
Net cash-$158B-282.6% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $2.59T EV $2.81T
- Revenue
- $797B Trailing 12 months
- Revenue growth
- +16% FY2026 consensus
- Profit margin
- 16.9% Net income / revenue, TTM
- P/E
- 19.2× Forward 18.7× (FY2026)
- P/S
- 3.3× Price / sales, TTM
- EV / EBITDA
- 10.9× TTM
- Free cash flow
- -$46.9B Trailing 12 months
- Net income
- $135B Trailing 12 months
- Revenue estimate
- $830B FY2026 consensus
- Earnings
- 2027-02-04 Revenue est. $245B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue in line, EPS missed by 4.1%Revenue $202B vs $202B expected (-0.1%); EPS $1.89 vs $1.97 (-4.1%).
- Revenue growth slowing: 12.1% year on yearQ3 '26 revenue $202B, against an average of 15.8% over the four quarters before.
- Operating margin 13.1% (TTM), +2.1 pp on a year agoOperating income grew 37.0% while revenue grew 15.4%.
- 39.9% of pre-tax profit is non-operatingPre-tax income $174B vs operating income $104B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 27.0% of revenue (a year ago 17.4%)$215B invested in the last 4 quarters (+79.1% on a year earlier). Free cash flow -$46.9B = -34.8% of net income.
- Diluted share count up 0.8% in a year10.9B diluted shares in Q3 '26, 10.8B a year earlier.
- Net debt $158BCash + short-term investments $114B, debt incl. leases $272B; a year ago net debt $41.2B.
- Amazon Web Services Segment: revenue +39.3%, margin 38.7% (was 34.6%)Fastest-growing reported segment in Q3 '26: operating income $17.8B on revenue $46B (from the segment note of the filing).
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $202B | $180B | +12.1% |
| Gross margin | 53.2% | 50.8% | +2.4 pp |
| Operating income | $28.1B | $17.4B | +61.2% |
| Operating margin | 13.9% | 9.7% | +4.2 pp |
| Net income | $20.7B | $21.2B | -2.4% |
| Diluted EPS | $1.89 | $1.95 | -3.1% |
| Operating cash flow | $42.4B | $35.5B | +19.4% |
| Capex | $77.3B | $35.1B | +120.1% |
| Free cash flow | -$34.8B | $430M | -8,201.6% |
| R&D | $34.8B | $29B | +20.2% |
| Stock-based compensation | $5.41B | $4.85B | +11.5% |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $202B | $202B | -0.1% |
| EPS (as estimated) | $1.89 | $1.97 | -4.1% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Online Stores | $68.5B | +1.6% | 33.9% | $286B | +9.3% | |
| Third-Party Seller Services | $46.5B | +9.4% | 23.0% | $188B | +12.5% | |
| Amazon Web Services | $46B | +39.3% | 22.8% | $161B | +32.4% | |
| Advertising Services | $19.6B | +10.9% | 9.7% | $78B | +20.7% | |
| Subscription Services | $14B | +11.4% | 6.9% | $54.3B | +13.1% | |
| Physical Stores | $5.71B | +2.4% | 2.8% | $23.1B | +3.9% | |
| Other Services | $1.65B | +16.3% | 0.8% | $6.83B | +17.4% |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| North America Segment | $113B | +6.2% | 55.9% | $460B | -1.1% | |
| International Segment | $43.1B | +5.4% | 21.3% | $176B | +32.3% | |
| Amazon Web Services Segment | $46B | +39.3% | 22.8% | $161B | – |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q3 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| North America Segment | $113B | +6.2% | $8.72B | +82.1% | 7.7% | 4.5% | $37.6B |
| Amazon Web Services Segment | $46B | +39.3% | $17.8B | +55.4% | 38.7% | 34.6% | $61B |
| International Segment | $43.1B | +5.4% | $1.58B | +31.8% | 3.7% | 2.9% | $5.76B |
Operating income by segment
quarterlySegment operating margin
quarterlyFourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $168B
- Capex
- -$215B
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- -$65.2B
- Net debt issued
- $125B
- Stock-based compensation
- $19.9B
- Free cash flow
- -$46.9B
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 19.2× | 43.1× 4 of 5 years | 31.7× – 51.5× |
| EV / EBITDA | 10.9× | 20.2× | 15.3× – 24.6× |
| EV / Sales | 3.5× | 3.1× | 1.8× – 3.8× |
| Price / FCF | -55.3× | 146.0× 3 of 5 years | 48.6× – 319.6× |
| Price / Book | 4.2× | 8.0× | 5.9× – 12.2× |
| FCF yield | -1.8% | 0.2% | -2.0% – 2.1% |
| Return on invested capital | 8.2% | 8.4% | 1.8% – 13.3% |
| Return on equity | 26.7% | 15.4% | -1.9% – 24.1% |
Analysts
Consensus target $328.48 (+36.7%)
range $250.00 – $390.00 · rating Buy
Strong buy0
Buy84
Hold10
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $830B | +15.7% | $12.86 | +79.3% | 18.7× | 36 |
| FY2027 | $959B | +15.6% | $10.75 | -16.4% | 22.4× | 42 |
| FY2028 | $1.11T | +16.2% | $14.48 | +34.8% | 16.6× | 35 |
| FY2029 | $1.28T | +14.7% | $17.62 | +21.7% | 13.6× | 16 |
| FY2030 | $1.44T | +12.5% | $21.79 | +23.7% | 11.0× | 16 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 294 figures Amazon.com, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $159B | $106B | +49.7% | $122B2025-12-31 | $94.4B | +29.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $98.2B | $61.2B | +60.6% | $67.7B2025-12-31 | $55.5B | +22.1% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2.8B | $2.3B | +21.7% | $2.4B2025-12-31 | $2B | +20.0% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | – | – | – | $1.2B2025-12-31 | $1.6B | -25.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | – | – | – | $1.6B2025-12-31 | $1.9B | -15.8% |
| Accrued Liabilities, Current | $77.6B | $68.1B | +14.0% | $75.5B2025-12-31 | $67B | +12.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $177B2025-12-31 | $141B | +25.2% | $177B2025-12-31 | $141B | +25.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $102B | $12.3B | +729.3% | $28.2B2025-12-31 | -$34M | +83,129.4% |
| Additional Paid in Capital | $155B | $136B | +14.2% | $140B2025-12-31 | $121B | +15.9% |
| Advertising Expense | – | – | – | $23.5B2025-12-31 | $21.4B | +9.8% |
| Amortization of Intangible Assets | – | – | – | $817M2025-12-31 | $838M | -2.5% |
| Asset Impairment Charges | $610M2025-12-31 | – | – | $1.3B2025-12-31 | – | – |
| Assets | $1.24T | $728B | +70.8% | $818B2025-12-31 | $625B | +30.9% |
| Assets, Current | $255B | $197B | +29.6% | $229B2025-12-31 | $191B | +20.0% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $27B2025-12-31 | $16.8B | +60.7% |
| Cash | $15.3B | – | – | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $55.8B | $66.9B | -16.6% | $86.8B2025-12-31 | $78.8B | +10.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $58.7B | $70.5B | -16.7% | $90.1B2025-12-31 | $82.3B | +9.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$22.2B | $9.01B | -346.5% | -$11.8B | -$8.21B | -43.1% |
| Common Stock, Capital Shares Reserved for Future Issuance | 1.4B2025-12-31 | 1.5B | -6.7% | 1.4B2025-12-31 | 1.5B | -6.7% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.012025-12-31 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 100B | 100B | 0.0% | 100B2025-12-31 | 100B | 0.0% |
| Common Stock, Shares, Issued | 11.3B | 11.2B | +1.1% | 11.2B2025-12-31 | 11.1B | +1.2% |
| Common Stock, Shares, Outstanding | 10.8B | 10.7B | +1.2% | 10.7B2025-12-31 | 10.6B | +1.3% |
| Common Stock, Value, Issued | $113M | $112M | +0.9% | $112M2025-12-31 | $111M | +0.9% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $56.7B | $31.1B | +82.2% | $106B2025-12-31 | $62.3B | +70.2% |
| Contract with Customer, Liability | $25B2025-12-31 | $24.6B | +1.6% | $25B2025-12-31 | $24.6B | +1.6% |
| Contract with Customer, Liability, Current | $21.7B | $21.1B | +2.8% | $20.6B2025-12-31 | $18.1B | +13.7% |
| Contract with Customer, Liability, Noncurrent | $6.5B | $4.1B | +58.5% | $4.4B2025-12-31 | $6.5B | -32.3% |
| Contract with Customer, Liability, Revenue Recognized | $2.9B | $3.6B | -19.4% | $17.4B2025-12-31 | $14.2B | +22.5% |
| Contract with Customer, Refund Liability | $1.6B2025-12-31 | $1.4B | +14.3% | $1.6B2025-12-31 | $1.4B | +14.3% |
| Contract with Customer, Right to Recover Product | $1.2B2025-12-31 | $998M | +20.2% | $1.2B2025-12-31 | $998M | +20.2% |
| Contractual Obligation | $884B | $376B | +135.0% | $440B2025-12-31 | $333B | +32.0% |
| Contractual Obligation, to be Paid, after Year Five | $241B2025-12-31 | $186B | +29.7% | $241B2025-12-31 | $186B | +29.7% |
| Contractual Obligation, to be Paid, Remainder of Fiscal Year | $31.6B | $15B | +111.4% | – | – | – |
| Contractual Obligation, to be Paid, Year Five | $32.2B2025-12-31 | $23.6B | +36.1% | $32.2B2025-12-31 | $23.6B | +36.1% |
| Contractual Obligation, to be Paid, Year Four | $76.4B | $28.1B | +172.2% | $32B2025-12-31 | $24B | +33.5% |
| Contractual Obligation, to be Paid, Year One | $124B | $42.1B | +195.1% | $51.7B2025-12-31 | $34.8B | +48.3% |
| Contractual Obligation, to be Paid, Year Three | $103B | $29.5B | +248.8% | $36.1B2025-12-31 | $33.8B | +6.8% |
| Contractual Obligation, to be Paid, Year Two | $85.6B | $40.9B | +109.1% | $46.3B2025-12-31 | $30.6B | +51.2% |
| Cost of Goods and Services Sold | $94.6B | $88.7B | +6.7% | $356B2025-12-31 | $326B | +9.2% |
| Costs and Expenses | $174B | $163B | +6.8% | $637B2025-12-31 | $569B | +11.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.22B2025-12-31 | $9.04B | -86.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $4.33B2025-12-31 | $2.77B | +56.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2.07B2025-12-31 | $2.11B | -2.0% |
| Debt Securities, Available-for-sale | $146B | $23.7B | +516.9% | $45.8B2025-12-31 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $3M | – | – | – | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $183M | – | – | – | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $883M | $1B | -12.1% | $966M2025-12-31 | $829M | +16.5% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $405M | $600M | -32.5% | $501M2025-12-31 | $560M | -10.5% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $8.44B | $8.05B | +4.8% | $8.22B2025-12-31 | $5.02B | +63.6% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $88.2B | $68.9B | +28.1% | $96.8B2025-12-31 | $78.1B | +24.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $854M | $985M | -13.3% | $950M2025-12-31 | $794M | +19.6% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $404M | $599M | -32.6% | $501M2025-12-31 | $553M | -9.4% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $8.31B | $8.1B | +2.6% | $8.26B2025-12-31 | $4.97B | +66.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $88.2B | $68.9B | +28.1% | $96.8B2025-12-31 | $78B | +24.0% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | $97.9B | $78.5B | +24.7% | $106B2025-12-31 | $84.5B | +26.0% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $97.7B | $78.5B | +24.4% | $106B2025-12-31 | $84.4B | +26.2% |
| Debt Securities, Available-for-sale, Realized Gain | – | – | – | $18M2025-12-31 | $3M | +500.0% |
| Debt Securities, Available-for-sale, Realized Loss | – | – | – | $7M2025-12-31 | $10M | -30.0% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01