Financials Amazon.com, Inc.

Equities

AMZN

US0231351067

Department Stores

Market Closed - Nasdaq Other stock markets 21:00:00 16/01/2026 GMT			5-day change	1st Jan Change
239.12 ^USD	+0.39%		-3.34%	+3.60%

01-16	Amazon says it is committed to ensuring its data centers don't increase consumers' electricity bills	RE
01-16	Amazon: Amazon is paying our full energy costs and is committed to ensuring our data centers don’t increase consumers’ electricity bills	RE

Projected Income Statement: Amazon.com, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	386,064	469,822	513,983	574,785	637,959	714,852	794,452	884,903
Change	-	21.7%	9.4%	11.83%	10.99%	12.05%	11.14%	11.39%
EBITDA ¹	57,283	71,994	75,053	110,305	144,162	167,652	205,999	248,012
Change	-	25.68%	4.25%	46.97%	30.69%	16.29%	22.87%	20.39%
EBIT ¹	22,899	24,879	12,248	36,852	68,593	79,906	100,549	124,653
Change	-	8.65%	-50.77%	200.88%	86.13%	16.49%	25.83%	23.97%
Interest Paid ¹	-1,647	-1,809	-2,367	-3,182	-2,406	-2,175	-2,310	-2,286
Earnings before Tax (EBT) ¹	24,178	38,151	-5,936	37,557	68,614	94,865	103,942	127,115
Change	-	57.79%	-115.56%	732.7%	82.69%	38.26%	9.57%	22.29%
Net income ¹	21,331	33,364	-2,722	30,425	59,248	76,348	85,867	106,255
Change	-	56.41%	-108.16%	1,217.74%	94.73%	28.86%	12.47%	23.74%
Announcement Date	02/02/21	03/02/22	02/02/23	01/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	125,555	108,518	113,080	110,812	137,412	116,444	121,234	127,101	149,204	127,358	134,383	143,083	169,961	143,313	147,977	158,877	187,792	155,667	167,702	180,169	211,143	175,150	186,319	199,723	233,392	193,635	208,340	222,371
Change	-	-13.57%	4.2%	-2.01%	24%	-15.26%	4.11%	4.84%	17.39%	-14.64%	5.52%	6.47%	18.78%	-15.68%	3.25%	7.37%	18.2%	-17.11%	7.73%	7.43%	17.19%	-17.05%	6.38%	7.19%	16.86%	-17.03%	7.59%	6.73%
EBITDA ¹	16,557	18,717	19,342	16,969	16,966	16,146	18,210	18,450	21,787	20,868	26,543	29,392	33,502	32,180	33,529	36,448	42,005	36,664	41,131	41,940	48,752	45,247	49,557	51,923	58,793	-	-	-
Change	-	13.05%	3.34%	-12.27%	-0.02%	-4.83%	12.78%	1.32%	18.09%	-4.22%	27.19%	10.73%	13.98%	-3.95%	4.19%	8.71%	15.25%	-12.72%	12.18%	1.97%	16.24%	-7.19%	9.53%	4.78%	13.23%	-	-	-
EBIT ¹	6,873	8,865	7,702	4,852	3,460	3,669	3,317	2,525	2,737	4,774	7,681	11,188	13,209	15,307	14,672	17,411	21,203	18,405	19,171	17,422	24,606	22,226	23,723	25,075	29,738	30,230	30,378	31,840
Change	-	28.98%	-13.12%	-37%	-28.69%	6.04%	-9.59%	-23.88%	8.4%	74.42%	60.89%	45.66%	18.06%	15.88%	-4.15%	18.67%	21.78%	-13.2%	4.16%	-9.12%	41.23%	-9.67%	6.74%	5.7%	18.6%	1.65%	0.49%	4.81%
Charge d'intérêts ¹	-414	-399	-435	-493	-482	-472	-584	-617	-694	-823	-840	-806	-713	-644	-589	-603	-570	-541	-516	-538	-607.3	-549.4	-555.4	-561.2	-572.8	-565	-571	-577
Earnings before Tax (EBT) ¹	7,765	10,268	8,634	4,315	14,934	-5,265	-2,653	2,944	-962	4,119	7,563	12,189	13,686	12,983	15,245	18,037	22,349	21,679	20,857	28,170	25,232	22,731	24,393	26,614	30,488	31,087	32,860	38,925
Change	-	32.23%	-15.91%	-50.02%	246.1%	-135.26%	49.61%	210.97%	-132.68%	528.17%	83.61%	61.17%	12.28%	-5.14%	17.42%	18.31%	23.91%	-3%	-3.79%	35.06%	-10.43%	-9.91%	7.31%	9.11%	14.56%	1.96%	5.7%	18.46%
Net income ¹	7,222	8,107	7,778	3,156	14,323	-3,844	-2,028	2,872	278	3,172	6,750	9,879	10,624	10,431	13,485	15,328	20,004	17,127	18,164	21,187	20,923	18,689	20,067	21,664	25,401	27,213	29,105	32,843
Change	-	12.25%	-4.06%	-59.42%	353.83%	-126.84%	47.24%	241.62%	-90.32%	1,041.01%	112.8%	46.36%	7.54%	-1.82%	29.28%	13.67%	30.51%	-14.38%	6.05%	16.64%	-1.24%	-10.68%	7.38%	7.96%	17.25%	7.14%	6.95%	12.84%
Announcement Date	02/02/21	29/04/21	29/07/21	28/10/21	03/02/22	28/04/22	28/07/22	27/10/22	02/02/23	27/04/23	03/08/23	26/10/23	01/02/24	30/04/24	01/08/24	31/10/24	06/02/25	01/05/25	31/07/25	30/10/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Amazon.com, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-52,580	-47,305	-2,876	-28,466	-48,579	-62,653	-91,514	-125,185
Change	-	10.03%	93.92%	-889.78%	-70.66%	-28.97%	-46.06%	-36.79%
Announcement Date	02/02/21	03/02/22	02/02/23	01/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Amazon.com, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	35,044	55,396	58,321	48,133	77,658	124,374	137,518	150,317
Change	-	58.08%	5.28%	-17.47%	61.34%	60.16%	10.57%	9.31%
Free Cash Flow (FCF) ¹	31,020	-9,069	-11,569	36,813	38,219	21,119	42,829	73,746
Change	-	-129.24%	-27.57%	418.2%	3.82%	-44.74%	102.8%	72.19%
Announcement Date	02/02/21	03/02/22	02/02/23	01/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Amazon.com, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	14.84%	15.32%	14.6%	19.19%	22.6%	23.45%	25.93%	28.03%
EBIT Margin (%)	5.93%	5.3%	2.38%	6.41%	10.75%	11.18%	12.66%	14.09%
EBT Margin (%)	6.26%	8.12%	-1.15%	6.53%	10.76%	13.27%	13.08%	14.36%
Net margin (%)	5.53%	7.1%	-0.53%	5.29%	9.29%	10.68%	10.81%	12.01%
FCF margin (%)	8.03%	-1.93%	-2.25%	6.4%	5.99%	2.95%	5.39%	8.33%
FCF / Net Income (%)	145.42%	-27.18%	425.02%	121%	64.51%	27.66%	49.88%	69.4%
Profitability
ROA	7.81%	9%	-0.62%	6.14%	10.28%	11.07%	10.78%	10.69%
ROE	27.44%	28.81%	-1.92%	17.49%	24.29%	20.95%	19.12%	18.23%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	9.08%	11.79%	11.35%	8.37%	12.17%	17.4%	17.31%	16.99%
CAPEX / EBITDA (%)	61.18%	76.95%	77.71%	43.64%	53.87%	74.19%	66.76%	60.61%
CAPEX / FCF (%)	112.97%	-610.83%	-504.11%	130.75%	203.19%	588.93%	321.09%	203.83%
Items per share
Cash flow per share ¹	6.477	4.498	4.588	8.096	10.81	12.89	17.01	19.63
Change	-	-30.56%	2.02%	76.45%	33.5%	19.23%	32.01%	15.37%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	9.285	13.58	14.26	18.52	27.54	36.02	44.13	56.92
Change	-	46.26%	5%	29.91%	48.68%	30.78%	22.52%	28.99%
EPS ¹	2.092	3.24	-0.27	2.9	5.53	7.068	7.879	9.623
Change	-	54.94%	-108.33%	1,174.07%	90.69%	27.82%	11.47%	22.14%
Nbr of stocks (in thousands)	10,035,024	10,142,952	10,201,654	10,334,031	10,515,011	10,690,216	10,690,216	10,690,216
Announcement Date	02/02/21	03/02/22	02/02/23	01/02/24	06/02/25	-	-	-