Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Amazon delivered a strong fiscal year 2025, with revenue growing 12.4% to $716.9B, net income surging 31.1% to $77.7B, and operating cash flow reaching $139.5B, reflecting broad-based profitability improvement across its business.
Revenue
$716.92B
+12.38% YoY
EPS (Diluted)
$7.17
+29.66% YoY
Operating Income
$79.97B
+16.59% YoY
Source: SEC XBRL
Amazon (AMZN) reported FY2025 revenue of $716.92B, up 12.4% year over year. Operating margin was 11.2%, up 0.4 points from 10.8% a year earlier. Operating cash flow was $139.51B, up 20.4% year over year.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.97 | 1.86 | Beat +6.1% |
| Mar 2026 | 1.61 | 1.67 | Miss -3.5% |
| Dec 2025 | 1.61 | 1.67 | Miss -3.6% |
| Sep 2025 | 1.95 | 1.60 | Beat +21.5% |
Compiled by AI from this SEC filing
Amazon's total revenue grew 12.4% year-over-year from $638.0B to $716.9B, demonstrating continued momentum in its diversified business model spanning e-commerce, cloud computing, advertising, and third-party services.
Source: 10-K Income Statement
Operating income rose 16.6% to $80.0B, pushing the operating margin from 10.75% to 11.16%, indicating that revenue growth is outpacing cost increases and that operational leverage is improving across segments.
Source: 10-K Income Statement
Net income jumped 31.1% to $77.7B, with diluted EPS climbing 29.7% to $7.17, suggesting meaningful bottom-line leverage beyond operating improvements, potentially aided by non-operating income or favorable tax items.
Source: 10-K Income Statement
Investing cash outflows surged 51.1% to -$142.5B, significantly exceeding operating cash flow of $139.5B, reflecting Amazon's aggressive capital expenditure program likely tied to AI infrastructure, data centers, and logistics expansion.
Source: 10-K Cash Flow Statement
Stockholders' equity expanded 43.7% to $411.1B and total assets grew 30.9% to $818.0B, while cash and equivalents stood at $86.8B, underscoring a materially stronger financial position year-over-year.
Source: 10-K Balance Sheet
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Amazon's investing cash outflows of $142.5B exceeded its operating cash flow of $139.5B in FY2025, meaning the company is spending more than it generates from operations. This level of investment, if sustained without proportional returns, could pressure free cash flow and require additional financing.
Source: 10-K Cash Flow Statement
Long-term debt increased 18.7% to $68.8B, and financing cash flows turned positive at $9.7B (vs. -$11.8B prior year), suggesting Amazon raised additional capital to fund its investment program. Elevated debt levels increase interest expense risk, particularly in a higher-rate environment.
Source: 10-K Balance Sheet & Cash Flow Statement
Amazon's current ratio stands at just 1.05, meaning current assets barely cover current liabilities of $218.0B. While large companies often operate with lean liquidity, any disruption to operating cash generation could create short-term funding stress.
Source: 10-K Balance Sheet
Cost of revenue grew 9.2% to $356.4B, and while this is below revenue growth of 12.4%, the absolute cost base remains enormous. Any acceleration in fulfillment, logistics, or cloud infrastructure costs could compress gross margins, which are not explicitly broken out in the provided data.
Source: 10-K Income Statement
With $142.5B in investing outflows, Amazon is making one of the largest capital bets in corporate history, likely on AI and cloud infrastructure. If demand for these services does not materialize as expected, the return on these investments could disappoint, impacting future earnings.
Source: 10-K Cash Flow Statement
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 716.92 $B | 637.96 $B | +12.38% |
Cost of Revenue $B | 356.41 $B | 326.29 $B | +9.23% |
Operating Income $B | 79.98 $B | 68.59 $B | +16.59% |
Net Income $B | 77.67 $B | 59.25 $B | +31.09% |
EPS (Basic) $ | 7.29 $ | 5.66 $ | +28.80% |
EPS (Diluted) $ | 7.17 $ | 5.53 $ | +29.66% |
Answers draw on this SEC filing and the data on this page
Amazon's Q2 FY2026 earnings featured robust AWS growth and strong operating leverage, while net income was substantially inflated by $53.4B in Anthropic investment gains.
Amazon delivered a standout Q1 2026 with revenue of $181.5B (+16.6% YoY), operating income surging 29.6% to $23.9B, and net income jumping 37.7% to $90.8B, driven by expanding margins and strong cash generation.
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