AMZN (Amazon.com, Inc.) Stock Financials & Earnings

Company Info & Key Metrics

Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. The company operates through three segments:...

CEOAndrew R. Jassy

Country🇺🇸 United States

ExchangeNASDAQ

IPOMay 15, 1997

www.amazon.com

Revenue$213.4B

YoY Growth+13.6%

QoQ Growth+18.4%

Net Income$21.2B

EPS$1.95

Free Cash Flow$14.9B

Gross Margin48.5%

Op. Margin11.7%

Net Margin9.9%

FCF Margin7.0%

Rev Multiple (TTM)3.2x

P/E Ratio (TTM)29.6x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$127.4B	$59.6B	$4.8B
Q2 23	$134.4B	$65.0B	$7.7B
Q3 23	$143.1B	$68.1B	$11.2B
Q4 23	$170.0B	$77.4B	$13.2B
Q1 24	$143.3B	$70.7B	$15.5B
Q2 24	$148.0B	$74.2B	$14.7B
Q3 24	$158.9B	$77.9B	$17.4B
Q4 24	$187.8B	$88.9B	$21.2B
Q1 25	$155.7B	$78.7B	$18.4B
Q2 25	$167.7B	$86.9B	$19.2B
Q3 25	$180.2B	$91.5B	$17.4B
Q4 25	$213.4B	$103.4B	$25.0B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	4.4x	534.6x
Q2 23	4.3x	175.6x
Q3 23	4.1x	114.3x
Q4 23	4.0x	75.4x
Q1 24	3.9x	60.9x
Q2 24	3.8x	51.7x
Q3 24	3.7x	46.0x
Q4 24	3.6x	38.7x
Q1 25	3.5x	34.8x
Q2 25	3.4x	32.5x
Q3 25	3.3x	30.0x
Q4 25	3.2x	29.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$4.8B	-$9.4B
Q2 23	$16.5B	$5.0B
Q3 23	$21.2B	$8.7B
Q4 23	$42.5B	$27.9B
Q1 24	$19.0B	$4.1B
Q2 24	$25.3B	$7.7B
Q3 24	$26.0B	$3.4B
Q4 24	$45.6B	$17.8B
Q1 25	$17.0B	-$8.0B
Q2 25	$32.5B	$332M
Q3 25	$35.5B	$430M
Q4 25	$54.5B	$14.9B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$14.2B
Q2 23	$11.5B
Q3 23	$12.5B
Q4 23	$14.6B
Q1 24	$14.9B
Q2 24	$17.6B
Q3 24	$22.6B
Q4 24	$27.8B
Q1 25	$25.0B
Q2 25	$32.2B
Q3 25	$35.1B
Q4 25	$39.5B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+9.4%	+8.7%
Q2 23	+10.8%	+7.5%
Q3 23	+12.6%	+5.9%
Q4 23	+13.9%	+7.0%
Q1 24	+12.5%	+4.2%
Q2 24	+10.1%	+5.2%
Q3 24	+11.0%	+7.3%
Q4 24	+10.5%	+6.3%
Q1 25	+8.6%	+7.4%
Q2 25	+13.3%	+11.4%
Q3 25	+13.4%	+15.0%
Q4 25	+13.6%	+13.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4.7B	3.7%
Q2 23	$7.1B	5.3%
Q3 23	$5.8B	4.1%
Q4 23	$6.3B	3.7%
Q1 24	$5.0B	3.5%
Q2 24	$6.7B	4.5%
Q3 24	$5.3B	3.4%
Q4 24	$5.0B	2.7%
Q1 25	$3.7B	2.4%
Q2 25	$6.5B	3.9%
Q3 25	$4.8B	2.7%
Q4 25	$4.4B	2.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$20.4B	$3.0B	$10.2B
Q2 23	$21.9B	$3.2B	$10.7B
Q3 23	$21.2B	$2.6B	$10.6B
Q4 23	$22.0B	$3.0B	$12.9B
Q1 24	$20.4B	$2.7B	$9.7B
Q2 24	$22.3B	$3.0B	$10.5B
Q3 24	$22.2B	$2.7B	$10.6B
Q4 24	$23.6B	$2.9B	$13.1B
Q1 25	$23.0B	$2.6B	$9.8B
Q2 25	$27.2B	$3.0B	$11.4B
Q3 25	$29.0B	$2.9B	$11.7B
Q4 25	$29.4B	$2.7B	$14.3B

Revenue Segments

Quarter	Advertising Services	Amazon Web Services	Online Stores	Other Services	Physical Stores	Subscription Services	Third-Party Seller Services
Q1 23	$9.5B	$21.4B	$51.1B	$1.0B	$4.9B	$9.7B	$29.8B
Q2 23	$10.7B	$22.1B	$53.0B	$1.3B	$5.0B	$9.9B	$32.3B
Q3 23	$12.1B	$23.1B	$57.3B	$1.2B	$5.0B	$10.2B	$34.3B
Q4 23	$14.7B	$24.2B	$70.5B	$1.4B	$5.2B	$10.5B	$43.6B
Q1 24	$11.8B	$25.0B	$54.7B	$1.3B	$5.2B	$10.7B	$34.6B
Q2 24	$12.8B	$26.3B	$55.4B	$1.3B	$5.2B	$10.9B	$36.2B
Q3 24	$14.3B	$27.5B	$61.4B	$1.3B	$5.2B	$11.3B	$37.9B
Q4 24	$17.3B	$28.8B	$75.6B	$1.6B	$5.6B	$11.5B	$47.5B
Q1 25	$13.9B	$29.3B	$57.4B	$1.3B	$5.5B	$11.7B	$36.5B
Q2 25	$15.7B	$30.9B	$61.5B	$1.5B	$5.6B	$12.2B	$40.3B
Q3 25	$17.7B	$33.0B	$67.4B	$1.4B	$5.6B	$12.6B	$42.5B
Q4 25	$21.3B	$35.6B	$83.0B	$1.7B	$5.9B	$13.1B	$52.8B

Revenue by Geography

Quarter	Amazon Web Services Segment	International Segment	North America Segment
Q1 23	$21.4B	$29.1B	$76.9B
Q2 23	$22.1B	$29.7B	$82.5B
Q3 23	$23.1B	$32.1B	$87.9B
Q4 23	—	$21.6B	$148.3B
Q1 24	$25.0B	$31.9B	$86.3B
Q2 24	$26.3B	$31.7B	$90.0B
Q3 24	$27.5B	$35.9B	$95.5B
Q4 24	—	$21.7B	$166.1B
Q1 25	$29.3B	$33.5B	$92.9B
Q2 25	$30.9B	$36.8B	$100.1B
Q3 25	$33.0B	$40.9B	$106.3B
Q4 25	$35.6B	$50.7B	$127.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$49.3B	$15.1B	$64.4B
Q2 23	$49.5B	$14.4B	$64.0B
Q3 23	$49.6B	$14.6B	$64.2B
Q4 23	$73.4B	$13.4B	$86.8B
Q1 24	$72.9B	$12.2B	$85.1B
Q2 24	$71.2B	$17.9B	$89.1B
Q3 24	$75.1B	$13.0B	$88.1B
Q4 24	$78.8B	$22.4B	$101.2B
Q1 25	$66.2B	$28.4B	$94.6B
Q2 25	$57.7B	$35.4B	$93.2B
Q3 25	$66.9B	$27.3B	$94.2B
Q4 25	$86.8B	$36.2B	$123.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	10.35B	+0.4%
Q2 23	10.45B	+1.0%
Q3 23	10.56B	+1.0%
Q4 23	10.61B	+0.5%
Q1 24	10.67B	+0.6%
Q2 24	10.71B	+0.4%
Q3 24	10.73B	+0.3%
Q4 24	10.72B	-0.1%
Q1 25	10.79B	+0.7%
Q2 25	10.81B	+0.1%
Q3 25	10.85B	+0.4%
Q4 25	10.86B	+0.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$577K	154K
FY 15	$464K	231K
FY 16	$398K	341K
FY 17	$314K	566K
FY 18	$360K	648K
FY 19	$352K	798K
FY 20	$297K	1.3M
FY 21	$292K	1.6M
FY 22	$334K	1.5M
FY 23	$377K	1.5M
FY 24	$410K	1.6M
FY 25	$455K	1.6M