Earnings quality
Compare earnings and operating cash flow for earnings quality.
Amazon.com, Inc.
Ticker AMZN · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-06 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 11.2%; equity ratio is 50.2%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin11.2%
Equity ratio50.2%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
AMAZON COM INC is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $638.0B | $716.9B |
| Cost of sales* | $633.7B | $711.4B |
| Gross profit | $4.3B | $5.5B |
| Operating profit | $68.6B | $80.0B |
| Income tax | $9.3B | $19.1B |
| Net income | $59.2B | $77.7B |
| Basic EPS | 5.66 | 7.29 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $78.8B | $86.8B |
| Current assets | $190.9B | $229.1B |
| Non-current assets* | $434.0B | $589.0B |
| Total assets | $624.9B | $818.0B |
| Current liabilities | $179.4B | $218.0B |
| Non-current liabilities* | — | — |
| Total liabilities | — | — |
| Stockholders’ equity | $286.0B | $411.1B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $115.9B | $139.5B |
| Investing cash flow | -$94.3B | -$142.5B |
| Financing cash flow | -$11.8B | $9.7B |
| Cash at end of period | $78.8B | $86.8B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $469.8B | $514.0B | $574.8B | $638.0B | $716.9B | |
| Operating profit | $24.9B | $12.2B | $36.9B | $68.6B | $80.0B | |
| Net income | $33.4B | -$2.7B | $30.4B | $59.2B | $77.7B | |
| Total assets | $420.5B | $462.7B | $527.9B | $624.9B | $818.0B | |
| Cash & equivalents | $36.2B | $53.9B | $73.4B | $78.8B | $86.8B | |
| Stockholders’ equity | $138.2B | $146.0B | $201.9B | $286.0B | $411.1B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $638.0B to $716.9B (▲ +12.4%). Operating profit went from $68.6B to $80.0B (▲ +16.6%).
Operating cash flow was $139.5B (prior $115.9B), with cash on the balance sheet at $86.8B versus $78.8B.
Liquidity & leverage
Cash moved from $78.8B to $86.8B; current liabilities $218.0B.
Capital buffer
Stockholders’ equity moved from $286.0B to $411.1B.
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Source: SEC EDGAR 0001018724-26-000004
(AMAZON COM INC), period end 2025-12-31.