Amazon.com, Inc.AMZN
NasdaqGS•Consumer Cyclical•Internet Retail
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.
Amazon.com, Inc. (AMZN) reported trailing twelve months revenue of $742.78B as of March 2026, a 14.2% increase year-over-year. Quarterly revenue reached $181.52B, reflecting continued top-line momentum.
Amazon.com, Inc. generated $90.80B in TTM net income, with quarterly EBITDA of $42.80B. The operating margin expanded from 11.8% to 13.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (13.1%) and net margin (16.7%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 11.0% a year ago, signaling stronger bottom-line efficiency.
AMZN trades at a P/E of 23.8x (in line with broad market averages) and a P/S of 2.9x. The price-to-book ratio of 4.9x reflects a moderate premium to book value.
The company reported negative free cash flow of $-18.17B, indicating cash consumption over the period. The balance sheet shows $916.63B in total assets with $119.07B in long-term debt against $441.91B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~11.2%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 20.2% suggests a durable competitive advantage and efficient capital allocation.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~22.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~11.5% — no sign of cost or pricing stress.
FCF consistently trails net income (avg 0.2x) — earnings may be inflated by non-cash items or aggressive accounting.
Debt-to-equity has risen 54.4% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares outstanding rose 2.8% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation