AMAZON COM INC
$266.66
−0.78 (−0.29%) · delayed · Nov 13, 2026
Five-year price
52w $196.00 to $287.20
- Market cap
- $2.88T
- Enterprise value
- $2.87T
- P/E
- 37.2×
- 51.3× on 3y avg EPS
- EV / EBIT
- 35.8×
- FCF yield
- 0.3%
- ROIC
- 16.4%
- Debt / equity
- 0.17
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ●ROIC > 12% (5y avg)5y avg ROIC 14.9%
- ●ROE > 15% (5y avg)5y avg ROE 15.4%
- ●Stable operating marginsMargin volatility 3.3% (σ, 5y)
- ○Earnings convert to cashFCF / net income 32% (5y avg)
- ●Growing revenueRevenue CAGR 5y 13.2%
- ○Shrinking share countDiluted shares 6.2% over 5y
Value
0
- ○P/E below 15P/E 37.2
- ○EV/EBIT below 12EV/EBIT 35.8
- ○FCF yield above 6%FCF yield 0.3%
- ○Price below Graham NumberGraham Number $78.31
- ○P/B below 3P/B 7.0
Safety
60
- ●Debt / equity below 0.5D/E 0.17
- ●Debt payable in < 4 yrs of earningsNet debt $-18.4B
- ●Interest coverage > 8xCoverage 35.2x
- ○Current ratio > 1.5Current ratio 1.05
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
14
- ●Adequate size (revenue > $2B)Revenue $716.9B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.05
- ○Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -50%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 51.3
- ○P/E × P/B ≤ 22.5Product 359.7
Valuation lab
What do you have to believe?
At $266.66, the market is pricing in about 46.4% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$18.4B · 10813M shares · 5y revenue CAGR 13.2%
Intrinsic value
$26.52
Price
$266.66
Premium paid
906%
What the price implies
The market is paying for 46.4% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
65% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 135,987 | 177,866 | 232,887 | 280,522 | 386,064 | 469,822 | 513,983 | 574,785 | 637,959 | 716,924 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 4,186 | 4,106 | 12,421 | 14,541 | 22,899 | 24,879 | 12,248 | 36,852 | 68,593 | 79,975 |
| Operating margin | 3.1% | 2.3% | 5.3% | 5.2% | 5.9% | 5.3% | 2.4% | 6.4% | 10.8% | 11.2% |
| Pre-tax income | 3,892 | 3,806 | 11,261 | 13,976 | 24,178 | 38,151 | (5,936) | 37,557 | 68,614 | 97,311 |
| Income tax | 1,425 | 769 | 1,197 | 2,374 | 2,863 | 4,791 | (3,217) | 7,120 | 9,265 | 19,087 |
| Net income | 2,371 | 3,033 | 10,073 | 11,588 | 21,331 | 33,364 | (2,722) | 30,425 | 59,248 | 77,670 |
| EPS (diluted) | 4.90 | 6.15 | 20.14 | 23.01 | 2.09 | 3.24 | -0.27 | 2.90 | 5.53 | 7.17 |
| Diluted shares | 484 | 493 | 500 | 504 | 10,198 | 10,296 | 10,189 | 10,492 | 10,721 | 10,827 |
Who owns it
Superinvestors
Filings wire