Amazon.com, Inc. (AMZN) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↓
20.64
-1% vs avg
5yr avg: 20.89
30Y Low17.4·High66.1
P/FCF
↑
382.27
↑+157% vs avg
5yr avg: 148.60
30Y Low16.2·High91.3
P/B Ratio
↓
7.20
↓-11% vs avg
5yr avg: 8.10
30Y Low5.9·High114.5
ROE
↓
22.3%
↓+23% vs avg
5yr avg: 18.2%
30Y Low-356%·High58%
Debt/EBITDA
↓
1.05
↓-36% vs avg
5yr avg: 1.65
30Y Low0.2·High15.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AMZN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Amazon.com, Inc. trades at 38.1x earnings, 13% below its 5-year average of 43.9x, sitting at the 18th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.3x, the stock trades at a premium of 98%. On a free-cash-flow basis, the stock trades at 382.3x P/FCF, 157% above the 5-year average of 148.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.94T | $2.50T | $2.35T | $1.59T | $855.9B | $1.72T | $1.66T | $931.3B | $751.0B | $576.5B | $362.9B |
| Enterprise Value | $3.01T | $2.57T | $2.40T | $1.66T | $942.1B | $1.80T | $1.70T | $958.4B | $752.4B | $593.9B | $358.8B |
| P/E Ratio → | 38.15 | 32.19 | 39.67 | 52.39 | — | 51.46 | 77.92 | 80.34 | 74.36 | 188.61 | 149.96 |
| P/S Ratio | 4.10 | 3.49 | 3.69 | 2.77 | 1.67 | 3.66 | 4.30 | 3.32 | 3.22 | 3.24 | 2.67 |
| P/B Ratio | 7.20 | 6.08 | 8.22 | 7.90 | 5.86 | 12.42 | 17.78 | 15.01 | 17.24 | 20.81 | 18.82 |
| P/FCF | 382.27 | 324.77 | 71.54 | 49.48 | — | — | 64.07 | 43.01 | 43.42 | 89.94 | 38.61 |
| P/OCF | 21.08 | 17.91 | 20.30 | 18.77 | 18.31 | 37.07 | 25.14 | 24.18 | 24.44 | 31.39 | 21.10 |
P/E links to full P/E history page with 30-year chart
AMZN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Amazon.com, Inc.'s enterprise value stands at 20.6x EBITDA, roughly in line with its 5-year average of 20.9x. The Consumer Cyclical sector median is 11.3x, placing the stock at a 82% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.58 | 3.77 | 2.88 | 1.83 | 3.83 | 4.41 | 3.42 | 3.23 | 3.34 | 2.64 |
| EV / EBITDA | 20.64 | 17.60 | 19.81 | 19.37 | 17.39 | 30.30 | 35.43 | 26.38 | 27.10 | 38.11 | 28.77 |
| EV / EBIT | 37.61 | 25.76 | 33.85 | 40.66 | — | 44.98 | 65.96 | 61.53 | 59.35 | 127.61 | 81.99 |
| EV / FCF | — | 333.37 | 73.12 | 51.41 | — | — | 65.71 | 44.26 | 43.50 | 92.65 | 38.17 |
AMZN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Amazon.com, Inc. earns an operating margin of 11.2%, above the Consumer Cyclical sector average of 2.9%. Operating margins have expanded from 6.4% to 11.2% over the past 3 years, signaling improving operational efficiency. ROE of 22.3% indicates solid capital efficiency, compared to the sector median of 5.8%. ROIC of 14.7% represents solid returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.3% | 50.3% | 48.9% | 47.0% | 43.8% | 42.0% | 39.6% | 41.0% | 40.2% | 37.1% | 35.1% |
| Operating Margin | 11.2% | 11.2% | 10.8% | 6.4% | 2.4% | 5.3% | 5.9% | 5.2% | 5.3% | 2.3% | 3.2% |
| Net Profit Margin | 10.8% | 10.8% | 9.3% | 5.3% | -0.5% | 7.1% | 5.5% | 4.1% | 4.3% | 1.7% | 1.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.3% | 22.3% | 24.3% | 17.5% | -1.9% | 28.8% | 27.4% | 21.9% | 28.3% | 12.9% | 14.5% |
| ROA | 10.8% | 10.8% | 10.3% | 6.1% | -0.6% | 9.0% | 7.8% | 6.0% | 6.9% | 2.8% | 3.2% |
| ROIC | 14.7% | 14.7% | 17.1% | 11.1% | 4.1% | 10.5% | 15.3% | 16.3% | 20.7% | 10.2% | 24.3% |
| ROCE | 15.3% | 15.3% | 17.0% | 11.0% | 4.2% | 10.5% | 13.8% | 12.6% | 14.8% | 7.3% | 12.4% |
AMZN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Amazon.com, Inc. carries a Debt/EBITDA ratio of 1.0x, which is manageable (76% below the sector average of 4.3x). Net debt stands at $66.2B ($153.0B total debt minus $86.8B cash). Interest coverage of 43.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.37 | 0.37 | 0.46 | 0.67 | 0.96 | 0.84 | 0.90 | 1.02 | 0.76 | 1.37 | 0.79 |
| Debt / EBITDA | 1.05 | 1.05 | 1.08 | 1.59 | 2.59 | 1.96 | 1.76 | 1.74 | 1.19 | 2.43 | 1.22 |
| Net Debt / Equity | — | 0.16 | 0.18 | 0.31 | 0.59 | 0.58 | 0.45 | 0.44 | 0.03 | 0.63 | -0.21 |
| Net Debt / EBITDA | 0.45 | 0.45 | 0.43 | 0.73 | 1.59 | 1.35 | 0.88 | 0.75 | 0.05 | 1.12 | -0.33 |
| Debt / FCF | — | 8.60 | 1.59 | 1.93 | — | — | 1.63 | 1.25 | 0.08 | 2.72 | -0.44 |
| Interest Coverage | 43.79 | 43.79 | 29.52 | 12.80 | -1.51 | 22.09 | 15.68 | 9.73 | 8.95 | 5.49 | 9.04 |
AMZN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.05x means Amazon.com, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.05 | 1.05 | 1.06 | 1.05 | 0.94 | 1.14 | 1.05 | 1.10 | 1.10 | 1.04 | 1.04 |
| Quick Ratio | 0.88 | 0.88 | 0.87 | 0.84 | 0.72 | 0.91 | 0.86 | 0.86 | 0.85 | 0.76 | 0.78 |
| Cash Ratio | 0.56 | 0.56 | 0.56 | 0.53 | 0.45 | 0.68 | 0.67 | 0.63 | 0.60 | 0.54 | 0.59 |
| Asset Turnover | — | 0.88 | 1.02 | 1.09 | 1.11 | 1.12 | 1.20 | 1.25 | 1.43 | 1.35 | 1.63 |
| Inventory Turnover | 9.30 | 9.30 | 9.54 | 9.15 | 8.40 | 8.34 | 9.80 | 8.08 | 8.10 | 6.98 | 7.70 |
| Days Sales Outstanding | — | 34.48 | 31.73 | 33.18 | 30.08 | 25.55 | 23.20 | 27.08 | 26.14 | 27.01 | 22.38 |
AMZN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Amazon.com, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 3.1% | 2.5% | 1.9% | — | 1.9% | 1.3% | 1.2% | 1.3% | 0.5% | 0.7% |
| FCF Yield | 0.3% | 0.3% | 1.4% | 2.0% | — | — | 1.6% | 2.3% | 2.3% | 1.1% | 2.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $10.8B | $10.7B | $10.5B | $10.2B | $10.3B | $10.2B | $10.1B | $10.0B | $9.9B | $9.7B |
Peer Comparison
Compare AMZN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AMZNYou | $2.9T | 38.1 | 20.6 | 382.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 MSFT | $3.1T | 30.2 | 19.3 | 42.7 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 GOOGL | $4.7T | 35.9 | 31.5 | 64.1 | 59.7% | 32.1% | 35.7% | 25.1% | 0.4 |
 META | $1.5T | 25.8 | 15.5 | 33.2 | 82.0% | 41.4% | 30.2% | 27.6% | 0.8 |
 AAPL | $4.2T | 38.1 | 29.4 | 42.2 | 46.9% | 32.0% | 171.4% | 67.4% | 0.8 |
 WMT | $1.0T | 47.9 | 25.0 | 25.1 | 24.9% | 4.2% | 22.2% | 14.7% | 1.5 |
 SHOP | $140B | 114.5 | 92.3 | 69.6 | 48.1% | 12.7% | 9.8% | 9.4% | 0.1 |
 EBAY | $48B | 24.3 | 20.8 | 29.0 | 71.5% | 20.5% | 41.6% | 16.8% | 2.9 |
 TGT | $59B | 15.8 | 7.4 | 20.7 | 27.9% | 4.9% | 24.0% | 16.7% | 0.7 |
 CRM | $180B | 24.0 | 20.1 | 12.5 | 77.7% | 21.5% | 12.4% | 10.9% | 0.8 |
 ORCL | $533B | 42.7 | 26.3 | — | 70.5% | 30.8% | 82.4% | 12.8% | 4.4 |
| Consumer Cyclical Median | — | 19.3 | 11.3 | 14.6 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonAMZN — Frequently Asked Questions
Quick answers to the most common questions about buying AMZN stock.
What is Amazon.com, Inc.'s P/E ratio?
Amazon.com, Inc.'s current P/E ratio is 38.1x. The historical average is 76.6x. This places it at the 18th percentile of its historical range.
What is Amazon.com, Inc.'s EV/EBITDA?
Amazon.com, Inc.'s current EV/EBITDA is 20.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 34.0x.
What is Amazon.com, Inc.'s ROE?
Amazon.com, Inc.'s return on equity (ROE) is 22.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -20.1%.
Is AMZN stock overvalued?
Based on historical data, Amazon.com, Inc. is trading at a P/E of 38.1x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Amazon.com, Inc.'s profit margins?
Amazon.com, Inc. has 50.3% gross margin and 11.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Amazon.com, Inc. have?
Amazon.com, Inc.'s Debt/EBITDA ratio is 1.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.