Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Amazon

AMZN stock analysis · Consumer Discretionary · Broadline Retail

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$238.34HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$2.6T

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Momentum data and stock-split review

The official current investor FAQ enumerates four stock splits, most recently the June 2022 20-for-1 action, and reconciles the IPO price to a split-adjusted $0.075. The reviewed same-ISIN interval starts after those actions. Split multiplier 1 is an issuer-history-based inference limited to this snapshot. Fund values divided by held shares are indicative price-return proxies, not exchange closes or total returns.

Issuer action history 1 ↗

Fund valuation at 2025-06-30 ↗ · Fund valuation at 2026-05-31 ↗

Valuation

DCF value

$10.84

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -95.5% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

How this is calculated ↗
Valuation

Relative valuation

-26.0%

43 sector peers · median 24.5×

How this is calculated ↗
Valuation

Historical multiples

59.1×

6 annual observations · snapshot P/E 33.1× · -44.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

0.3%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

19.2%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation)

How this is calculated ↗
Valuation

Value composite

28/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

23.4%

2025-06-30 → 2026-05-31 · Reviewed split basis · fund snapshot

How this is calculated ↗
Investment

Asset growth

30.9%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-8.6%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

4.7%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 139.5B2020-12-31: cfo $66,064,000,000.002020-12-31: capex $40,140,000,000.0020202021-12-31: cfo $46,327,000,000.002021-12-31: capex $61,053,000,000.0020212022-12-31: cfo $46,752,000,000.002022-12-31: capex $63,645,000,000.0020222023-12-31: cfo $84,946,000,000.002023-12-31: capex $52,729,000,000.0020232024-12-31: cfo $115,877,000,000.002024-12-31: capex $82,999,000,000.0020242025-12-31: cfo $139,514,000,000.002025-12-31: capex $131,819,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$13.60$14.83$16.17
10.0%$9.96$10.84$11.78
12.0%$7.86$8.53$9.25

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-31716.9B77.7B139.5B131.8B818B
2024-12-31638B59.2B115.9B83B624.9B
2023-12-31574.8B30.4B84.9B52.7B527.9B
2022-12-31514B-2.7B46.8B63.6B462.7B
2021-12-31469.8B33.4B46.3B61.1B420.5B
2020-12-31386.1B21.3B66.1B40.1B321.2B
2019-12-31280.5B11.6B38.5B16.9B225.2B
2018-12-31232.9B10.1B30.7B13.4B162.6B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue716.9BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-06
netIncome77.7BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-06
Parent/common earnings proxy77.7BNetIncomeLoss2026-02-06
cfo139.5BNetCashProvidedByUsedInOperatingActivities2026-02-06
capex131.8BPaymentsToAcquireProductiveAssets2026-02-06
operatingIncome80BOperatingIncomeLoss2026-02-06
assets818BAssets2026-02-06
equity411.1BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-06
Parent book equity proxy411.1BStockholdersEquity2026-02-06
debt68.8BLongTermDebt2026-02-06
shortDebt455MShortTermBorrowings2026-02-06
cash86.8BCashAndCashEquivalentsAtCarryingValue2026-02-06
shares10.8BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-06
dividendsNot reported under a supported tag
buybacksNot reported under a supported tag
issuanceNot reported under a supported tag