Amazon.com, Inc. (AMZN) Key Metrics
AMZN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.70T
- Enterprise value
- $2.79T
- P/E (TTM)
- 20.1 10-yr median 74.6
- Forward P/E
- 23.6
- PEG ratio
- 1.48
- Price / sales
- 3.5 10-yr median 3.3
- Price / book
- 4.9 10-yr median 13.7
- EV / EBITDA
- 11.0 10-yr median 26.0
- Dividend yield
- —
- Beta
- 1.46
AMZN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAMZN valuation Price multiples at each fiscal year-end price.
AMZN returns How much profit the business earns on the capital it uses.
AMZN per-share figures Results divided by the shares outstanding at year-end.
AMZN financial health Debt, liquidity and how easily interest is covered.
AMZN efficiency & capital use Working capital cycle and where the cash goes.
AMZN valuation history
AMZN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AMZN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AMZN cash returned to shareholders
AMZN price vs earnings per share
AMZN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.50T | $2.35T | $1.59T | $855.88B | $1.72T | $1.66T | $931.31B | $750.99B | $576.55B | $362.94B |
| Enterprise value | $2.53T | $2.38T | $1.64T | $925.97B | $1.74T | $1.66T | $939.50B | $742.88B | $583.49B | $352.17B |
| P/E ratio | 32.2 | 39.7 | 52.4 | — | 51.5 | 77.9 | 80.4 | 74.6 | 190.1 | 153.1 |
| Price / sales | 3.5 | 3.7 | 2.8 | 1.7 | 3.7 | 4.3 | 3.3 | 3.2 | 3.2 | 2.7 |
| Price / book | 6.1 | 8.2 | 7.9 | 5.9 | 12.4 | 17.8 | 15.0 | 17.2 | 20.8 | 18.8 |
| Price / free cash flow | 324.8 | 71.5 | 49.5 | — | — | 64.1 | 43.0 | 43.4 | 89.9 | 38.6 |
| Price / operating cash flow | 17.9 | 20.3 | 18.8 | 18.3 | 37.1 | 25.1 | 24.2 | 24.4 | 31.4 | 21.1 |
| EV / sales | 3.5 | 3.7 | 2.9 | 1.8 | 3.7 | 4.3 | 3.3 | 3.2 | 3.3 | 2.6 |
| EV / EBITDA | 15.3 | 19.2 | 19.2 | 17.1 | 29.3 | 34.5 | 25.1 | 26.8 | 37.4 | 28.6 |
| EV / free cash flow | 328.7 | 72.4 | 51.0 | — | — | 64.1 | 43.4 | 43.0 | 91.0 | 37.5 |
| Earnings yield | 3.1% | 2.5% | 1.9% | −0.3% | 1.9% | 1.3% | 1.2% | 1.3% | 0.5% | 0.7% |
| Free cash flow yield | 0.3% | 1.4% | 2.0% | −2.0% | −0.9% | 1.6% | 2.3% | 2.3% | 1.1% | 2.6% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | — | — | 0.0% | 0.0% |
| Share price at fiscal year-end | $230.82 | $219.39 | $151.94 | $84.00 | $166.72 | $162.85 | $92.39 | $75.10 | $58.47 | $37.49 |
| Per share | ||||||||||
| Revenue per share | $66.22 | $59.51 | $54.78 | $50.44 | $45.61 | $37.85 | $27.83 | $23.29 | $18.04 | $14.05 |
| Earnings per share | $7.17 | $5.53 | $2.90 | −$0.27 | $3.24 | $2.09 | $1.15 | $1.01 | $0.31 | $0.24 |
| Operating cash flow per share | $12.89 | $10.81 | $8.10 | $4.59 | $4.50 | $6.48 | $3.82 | $3.07 | $1.86 | $1.78 |
| Free cash flow per share | $0.71 | $3.07 | $3.07 | −$1.66 | −$1.43 | $2.54 | $2.15 | $1.73 | $0.65 | $0.97 |
| Cash per share | $11.36 | $9.44 | $8.27 | $6.87 | $9.33 | $8.27 | $5.46 | $4.12 | $3.14 | $2.68 |
| Book value per share | $37.97 | $26.67 | $19.24 | $14.33 | $13.42 | $9.16 | $6.16 | $4.35 | $2.81 | $1.99 |
| Tangible book value per share | $34.97 | $23.72 | $16.34 | $11.74 | $11.43 | $7.20 | $4.29 | $2.49 | $1.11 | $1.51 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $12.18 | $7.74 | $5.03 | $6.25 | $5.93 | $3.94 | $1.67 | $1.34 | $1.21 | $0.81 |
| Debt per share | $14.13 | $12.21 | $12.93 | $13.75 | $11.30 | $8.27 | $6.27 | $3.31 | $3.85 | $1.57 |
| Shares outstanding | 10.83B | 10.72B | 10.49B | 10.19B | 10.30B | 10.20B | 10.08B | 10.00B | 9.86B | 9.68B |
| Change in shares outstanding | +1.0% | +2.2% | +3.0% | −1.1% | +1.0% | +1.2% | +0.8% | +1.4% | +1.9% | +1.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 22.3% | 24.3% | 17.5% | −1.9% | 28.8% | 27.4% | 21.9% | 28.3% | 12.9% | 14.5% |
| Return on invested capital (ROIC) | 17.0% | 20.9% | 12.8% | 5.2% | 17.3% | 24.7% | 22.8% | 31.2% | 11.2% | 32.6% |
| Return on assets (ROA) | 10.8% | 10.3% | 6.1% | −0.6% | 9.0% | 7.8% | 6.0% | 6.9% | 2.8% | 3.2% |
| Return on tangible assets | 9.9% | 10.0% | 6.1% | −0.6% | 8.3% | 7.1% | 5.6% | 7.0% | 2.6% | 3.0% |
| Free cash flow margin | 1.1% | 5.2% | 5.6% | −3.3% | −3.1% | 6.7% | 7.7% | 7.4% | 3.6% | 6.9% |
| Income quality (OCF / net income) | 1.80 | 1.96 | 2.79 | — | 1.39 | 3.10 | 3.32 | 3.05 | 6.06 | 7.26 |
| Financial health | ||||||||||
| Total debt | $152.99B | $130.90B | $135.61B | $140.12B | $116.39B | $84.39B | $63.20B | $33.15B | $37.93B | $15.21B |
| Cash & short-term investments | $123.03B | $101.20B | $86.78B | $70.03B | $96.05B | $84.40B | $55.02B | $41.25B | $30.99B | $25.98B |
| Net debt | $29.96B | $29.70B | $48.83B | $70.09B | $20.35B | −$7.0M | $8.18B | −$8.11B | $6.94B | −$10.77B |
| Debt / equity | 0.37 | 0.46 | 0.67 | 0.96 | 0.84 | 0.90 | 1.02 | 0.76 | 1.37 | 0.79 |
| Debt / assets | 0.19 | 0.21 | 0.26 | 0.30 | 0.28 | 0.26 | 0.28 | 0.20 | 0.29 | 0.18 |
| Net debt / EBITDA | 0.18 | 0.24 | 0.57 | 1.29 | 0.34 | −0.00 | 0.22 | −0.29 | 0.45 | −0.88 |
| Current ratio | 1.05 | 1.06 | 1.05 | 0.94 | 1.14 | 1.05 | 1.10 | 1.10 | 1.04 | 1.04 |
| Quick ratio | 0.88 | 0.87 | 0.84 | 0.72 | 0.91 | 0.86 | 0.86 | 0.85 | 0.76 | 0.78 |
| Interest coverage | 35.2 | 28.5 | 11.6 | 5.2 | 13.8 | 13.9 | 9.1 | 8.8 | 4.8 | 8.6 |
| Working capital | $11.08B | $11.44B | $7.43B | −$8.60B | $19.31B | $6.35B | $8.52B | $6.71B | $2.31B | $1.97B |
| Invested capital | $441.02B | $315.67B | $250.71B | $216.13B | $158.59B | $93.40B | $70.24B | $35.44B | $34.65B | $8.52B |
| Tangible asset value | $378.60B | $254.29B | $171.40B | $119.66B | $117.77B | $73.41B | $43.26B | $24.89B | $10.99B | $14.65B |
| Net current asset value | −$177.89B | −$148.06B | −$153.63B | −$169.84B | −$120.72B | −$95.06B | −$66.85B | −$44.00B | −$43.40B | −$18.34B |
| Graham number | $78.28 | $57.59 | $35.43 | — | $31.28 | $20.76 | $12.62 | $9.93 | $4.41 | $3.31 |
| Graham net-net per share | −$19.76 | −$16.70 | −$17.48 | −$19.40 | −$14.10 | −$11.09 | −$8.17 | −$5.68 | −$5.55 | −$2.70 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | $0 | $0 | $6.00B | $0 | $0 | — | — | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | — | 0.0% | 0.0% | — | — | 0.0% | — | — | 0.0% | 0.0% |
| Capex / revenue | 18.4% | 13.0% | 9.2% | 12.4% | 13.0% | 10.4% | 6.0% | 5.8% | 6.7% | 5.7% |
| Capex / operating cash flow | 94.5% | 71.6% | 62.1% | 136.1% | 131.8% | 60.8% | 43.8% | 43.7% | 65.1% | 45.4% |
| Capex / depreciation | 2.00 | 1.57 | 1.08 | 1.52 | 1.78 | 1.59 | 0.77 | 0.88 | 1.04 | 0.96 |
| Stock-based compensation / revenue | 2.7% | 3.5% | 4.2% | 3.8% | 2.7% | 2.4% | 2.4% | 2.3% | 2.4% | 2.2% |
| R&D / revenue | 15.1% | 13.9% | 14.9% | 14.2% | 11.9% | 11.1% | 12.8% | 12.4% | 12.7% | 11.8% |
| SG&A / revenue | 8.1% | 8.7% | 9.8% | 10.5% | 8.8% | 7.4% | 8.6% | 7.8% | 7.7% | 7.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 31.4 | 30.8 | 30.0 | 26.7 | 22.3 | 21.4 | 24.4 | 23.4 | 22.1 | 18.8 |
| Days of inventory on hand | 37.1 | 37.8 | 40.6 | 42.4 | 37.8 | 34.6 | 41.5 | 43.6 | 44.8 | 32.5 |
| Days payables outstanding | 110.7 | 100.3 | 98.6 | 100.0 | 101.3 | 93.7 | 94.1 | 95.5 | 97.7 | 68.4 |
| Cash conversion cycle (days) | -42.2 | -31.7 | -28.0 | -30.9 | -41.2 | -37.6 | -28.2 | -28.5 | -30.8 | -17.1 |
| Receivables turnover | 11.64 | 11.85 | 12.15 | 13.66 | 16.36 | 17.02 | 14.96 | 15.61 | 16.54 | 19.44 |
| Payables turnover | 3.30 | 3.64 | 3.70 | 3.65 | 3.60 | 3.90 | 3.88 | 3.82 | 3.74 | 5.34 |
| Inventory turnover | 9.83 | 9.66 | 9.00 | 8.62 | 9.65 | 10.53 | 8.79 | 8.38 | 8.14 | 11.24 |
| Asset turnover | 0.99 | 1.11 | 1.16 | 1.16 | 1.27 | 1.41 | 1.45 | 1.58 | 1.66 | 1.84 |
| Average receivables | $61.59B | $53.85B | $47.31B | $37.63B | $28.72B | $22.68B | $18.75B | $14.92B | $10.75B | $7.00B |
| Average payables | $108.14B | $89.67B | $82.29B | $79.13B | $75.60B | $59.86B | $42.69B | $36.40B | $29.96B | $22.85B |
| Average inventory | $36.27B | $33.77B | $33.86B | $33.52B | $28.22B | $22.15B | $18.84B | $16.61B | $13.75B | $10.85B |
| Intangibles / total assets | 4.0% | 5.1% | 5.8% | 5.7% | 4.9% | 6.2% | 8.3% | 11.5% | 12.7% | 5.6% |
Computed from AMZN's annual financial statements (latest annual report filed February 6, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AMZN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Amazon traded at 32.2 times earnings, against a 10-year median of 74.6. Based on the latest twelve months, the trailing P/E is 20.1 and the forward P/E is 23.6. Amazon earned a return on equity of 22.3% and a return on invested capital of 17.0% in fiscal 2025. It ended the year with $153.0 billion of debt and $123.0 billion in cash and short-term investments, net debt of $30.0 billion. The share count rose 11.8% from 9.68B to 10.83B over 9 years.
See the AMZN income statement, the AMZN chart for price history, or the AMZN stock overview for the latest quote and news.
AMZN key metrics FAQ
What is Amazon's P/E ratio?
Amazon's trailing P/E ratio is 20.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 23.6. At the end of fiscal 2025 it was 32.2, compared with a 10-year median of 74.6.
What is Amazon's EV/EBITDA?
Amazon's enterprise value was 15.3 times EBITDA at the end of fiscal 2025 (enterprise value $2.53 trillion, EBITDA $165.3 billion); the current EV/EBITDA is 11.0.
What is Amazon's return on equity?
Amazon's return on equity (ROE) was 22.3% in fiscal 2025: net income of $77.7 billion on average shareholders' equity of $348.5 billion.
What is Amazon's ROIC?
Amazon's return on invested capital was 17.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Amazon have?
Amazon had total debt of $153.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.37 and $30.0 billion of net debt (0.18 times EBITDA).
What is Amazon's free cash flow yield?
Amazon generated $7.7 billion of free cash flow in fiscal 2025, a free cash flow yield of 0.3% on its market value at year-end ($2.50 trillion).
What is Amazon's current ratio?
Amazon's current ratio was 1.05 at the end of fiscal 2025: current assets were 1.05 times current liabilities.