Global e-commerce and cloud computing company providing online retail, AWS cloud services, logistics, and digital entertainment.MoreShow less
Profile & Fundamentals
Amazon (AMZN.NASDAQ) Profile & Fundamentals
Review Amazon reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
Explore this pageJump to a Profile & Fundamentals section
Explore this research
Profile & Fundamentals contents
Jump directly to any section
Company and Market Context
Amazon: Company Profile & Ownership
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.
Company profile record
Amazon.com Inc
Common Stock · Consumer Discretionary · Broadline Retail
Company
- Company / asset
- Amazon.com Inc
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Broadline Retail
- HQ
- 🇺🇸 United States
- Head office
- 410 Terry Avenue North, Seattle, WA, United States, 98109-5210
Leadership & scale
- Chief executive
- Mr. Andrew R. Jassy
- CEO year born
- 1968
- Full-time employees
- 1.6M
- Fiscal year end
- December
- IPO date
- 1997-05-15
Fundamentals snapshot
- Market Cap
- USD 2.83T
- P/E
- 21.0x
- Revenue (Q3 26)
- USD 201.9B
- Profit (Q3 26)
- USD 20.7B
- Dividend Yield
- --
- Revenue (FY 25)
- USD 716.9B
- Shares in public float
- 9.8B
- Insider ownership
- 8.83%
Reporting & identifiers
- Symbol
- AMZN.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US0231351067
- Asset ID
- equity_77a8f069-8c05-523b-aa70-b39a8942b1c1
Amazon: Ownership
Shares Outstanding
Latest: 10.9B | Max: 10.9B | Min: 9.9B
Latest reported ownership snapshot
Float Shares
90.01%
9.8B latest reported shares
Insider Ownership
8.83%
Latest reported insider stake
Short Float
0.01%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 9,920,000,000 |
| 2018-01-01 | 10,020,000,000 |
| 2019-01-01 | 10,100,000,000 |
| 2020-01-01 | 10,260,000,000 |
| 2021-01-01 | 10,320,000,000 |
| 2022-01-01 | 10,242,000,000 |
| 2023-01-01 | 10,610,000,000 |
| 2024-01-01 | 10,771,000,000 |
| 2025-01-01 | 10,863,000,000 |
| 2026-01-01 | 10,929,000,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 748,403,539 | 6.92% | 2026-06-30 |
| Vanguard Capital Management, LLC | 635,764,130 | 5.88% | 2026-06-30 |
| State Street Corp | 397,186,958 | 3.67% | 2026-06-30 |
| FMR Inc | 365,660,364 | 3.38% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 308,147,866 | 2.85% | 2026-09-30 |
| Vanguard 500 Index Investor | 257,790,345 | 2.38% | 2026-09-30 |
| Geode Capital Management, LLC | 233,211,684 | 2.16% | 2026-06-30 |
| Morgan Stanley - Brokerage Accounts | 179,376,541 | 1.66% | 2026-06-30 |
| JPMorgan Chase & Co | 167,979,147 | 1.55% | 2026-06-30 |
| Amvescap Plc. | 143,818,328 | 1.33% | 2026-06-30 |
| NORGES BANK | 140,565,601 | 1.3% | 2026-06-30 |
| iShares Core S&P 500 ETF | 130,600,425 | 1.21% | 2026-10-23 |
| Fidelity 500 Index | 127,069,647 | 1.18% | 2026-08-31 |
| Vanguard Portfolio Management, LLC | 121,626,899 | 1.12% | 2026-06-30 |
| Capital Research Global Investors | 120,603,873 | 1.12% | 2026-06-30 |
Amazon: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Amazon's financial performance presents an extraordinary operational engine obscured by major accounting distortions. Trailing twelve-month revenue reached $776 billion with authentic operating income climbing to $93.7 billion through mid-2026, driven by cloud computing accelerating to 37% growth. However, reported net income of $135 billion was heavily inflated by roughly $53 billion in paper mark-to-market gains from strategic private investments, including Anthropic. Looking past non-cash paper gains reveals genuine recurring strength across retail media advertising and cloud services. Operating cash generation rose 33% to $161 billion, but massive infrastructure investments absorbed all incoming cash, leaving trailing free cash flow negative at -$11.6 billion. Sustainable investor returns depend entirely on converting this contracted cloud backlog into distributable operating cash flow.
Amazon's financial performance presents an extraordinary operational engine obscured by major accounting distortions. Trailing twelve-month revenue reached $776 billion with authentic operating income climbing to $93.7 billion through mid-2026, driven by cloud computing accelerating to 37% growth. However, reported net income of $135 billion was heavily inflated by roughly $53 billion in paper mark-to-market gains from strategic private investments, including Anthropic. Looking past non-cash paper gains reveals genuine recurring strength across retail media advertising and cloud services. Operating cash generation rose 33% to $161 billion, but massive infrastructure investments absorbed all incoming cash, leaving trailing free cash flow negative at -$11.6 billion. Sustainable investor returns depend entirely on converting this contracted cloud backlog into distributable operating cash flow.
Revenue, Net Income, and Free Cash Flow
Latest: USD 716.9B | Max: USD 716.9B | Min: USD -16.9B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 32x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Consolidated profitability has expanded structurally rather than cyclically, with gross margin widening past 50% in 2025 compared to 43.8% in 2022. This upward evolution reflects a permanent revenue shift toward high-margin digital advertising, third-party marketplace commissions, and cloud infrastructure services. In the second quarter of 2026, cloud operating margins approached 39%, generating $16.6 billion in segment operating profit. Looking forward, the critical profit challenge will be absorbing accelerating hardware depreciation. Quarterly depreciation climbed 31% to nearly $20 billion, and the $220 billion capex buildout has barely begun to amortize. While proprietary Trainium silicon and automated warehouse robotics lower operating expenses, rising depreciation charges will likely compress cloud segment margins over the next two years.
Consolidated profitability has expanded structurally rather than cyclically, with gross margin widening past 50% in 2025 compared to 43.8% in 2022. This upward evolution reflects a permanent revenue shift toward high-margin digital advertising, third-party marketplace commissions, and cloud infrastructure services. In the second quarter of 2026, cloud operating margins approached 39%, generating $16.6 billion in segment operating profit. Looking forward, the critical profit challenge will be absorbing accelerating hardware depreciation. Quarterly depreciation climbed 31% to nearly $20 billion, and the $220 billion capex buildout has barely begun to amortize. While proprietary Trainium silicon and automated warehouse robotics lower operating expenses, rising depreciation charges will likely compress cloud segment margins over the next two years.
Profitability Margins
Latest: 50.3% | Max: 50.3% | Min: -0.5%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
50.3%
Gross profit / revenue
Operating Margin
11.2%
Operating income / revenue
Net Margin
10.8%
Net income / revenue
FCF Margin
1.1%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 135,987,000,000 | 2,371,000,000 | 9,399,000,000 |
| 2017-12-31 | 177,866,000,000 | 3,033,000,000 | 6,410,000,000 |
| 2018-12-31 | 232,887,000,000 | 10,073,000,000 | 17,296,000,000 |
| 2019-12-31 | 280,522,000,000 | 11,588,000,000 | 21,653,000,000 |
| 2020-12-31 | 386,064,000,000 | 21,331,000,000 | 25,924,000,000 |
| 2021-12-31 | 469,822,000,000 | 33,364,000,000 | -14,726,000,000 |
| 2022-12-31 | 513,983,000,000 | -2,722,000,000 | -16,893,000,000 |
| 2023-12-31 | 574,785,000,000 | 30,425,000,000 | 32,217,000,000 |
| 2024-12-31 | 637,959,000,000 | 59,248,000,000 | 32,878,000,000 |
| 2025-12-31 | 716,924,000,000 | 77,670,000,000 | 7,695,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 32.3 | Trailing four quarters |
| 2024-12-31 | 39.9 | Trailing four quarters |
| 2023-12-31 | 53 | Trailing four quarters |
| 2021-12-31 | 1,031.4 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 35.09 | 3.08 | 1.74 | 6.91 |
| 2017-12-31 | 37.07 | 2.31 | 1.71 | 3.6 |
| 2018-12-31 | 40.25 | 5.33 | 4.33 | 7.43 |
| 2019-12-31 | 40.99 | 5.18 | 4.13 | 7.72 |
| 2020-12-31 | 39.57 | 5.93 | 5.53 | 6.71 |
| 2021-12-31 | 42.03 | 5.3 | 7.1 | -3.13 |
| 2022-12-31 | 43.81 | 2.38 | -0.53 | -3.29 |
| 2023-12-31 | 46.98 | 6.41 | 5.29 | 5.61 |
| 2024-12-31 | 48.85 | 10.75 | 9.29 | 5.15 |
| 2025-12-31 | 50.29 | 11.16 | 10.83 | 1.07 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-05.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
Complete Research Workspace
Unlock the complete Profile & Fundamentals
Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.