Stock Analysis on Net

Amazon.com Inc. (NASDAQ:AMZN)

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Amazon.com Inc., historical price multiples (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 41.73 39.67 49.43 58.66 65.74 110.16 251.97 93.17 118.45 59.05 48.08 65.12 57.25 65.00 78.20 87.67 120.27 107.95 86.30
Price to operating profit (P/OP) 34.34 32.41 39.31 48.43 50.04 81.28 81.03 86.50 81.33 89.87 64.24 64.48 60.45 56.87 62.96 72.85 76.53 93.97 80.81 68.77
Price to sales (P/S) 3.36 2.92 3.15 3.10 2.38 2.68 2.06 2.06 2.10 2.83 2.65 3.41 3.73 3.80 4.17 4.32 4.38 4.93 3.85 3.56
Price to book value (P/BV) 8.03 7.45 8.60 8.84 7.21 8.54 7.00 7.25 7.67 10.46 9.44 11.60 14.19 14.68 16.93 17.86 18.40 21.50 17.47 16.11 15.45 18.11 19.84

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Amazon.com Inc. P/E ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Amazon.com Inc. P/OP ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Amazon.com Inc. P/S ratio decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Amazon.com Inc. P/BV ratio decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Price to Earnings (P/E)

Amazon.com Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 10,515,011,008 10,495,566,881 10,406,627,415 10,387,381,291 10,334,030,586 10,317,750,796 10,260,353,688 10,247,259,757 10,201,654,176 10,187,554,818 10,174,409,620 10,176,888,200 10,142,952,400 10,128,810,400 10,086,474,720 10,071,294,860 10,035,023,660 10,017,793,020 9,975,520,640 9,956,208,880 9,915,944,400 9,893,120,300 9,846,635,520
Selected Financial Data (US$)
Net income (loss) (in millions) 15,328 13,485 10,431 10,624 9,879 6,750 3,172 278 2,872 (2,028) (3,844) 14,323 3,156 7,778 8,107 7,222 6,331 5,243 2,535 3,268 2,134 2,625 3,561
Earnings per share (EPS)2 4.74 4.23 3.62 2.93 1.94 1.27 0.42 -0.27 1.11 1.14 2.10 3.28 2.59 2.91 2.67 2.12 1.73 1.32 1.06 1.16 0.00 0.00 0.00
Share price1, 3 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30 100.44 88.07 97.15 97.53
Valuation Ratio
P/E ratio4 41.73 39.67 49.43 58.66 65.74 110.16 251.97 93.17 118.45 59.05 48.08 65.12 57.25 65.00 78.20 87.67 120.27 107.95 86.30
Benchmarks
P/E Ratio, Competitors5
Home Depot Inc. 19.35 19.99 17.71 17.09 19.37 18.61 17.91 19.94 26.76 22.50 22.81 24.51 23.56 26.04 24.24 17.38 21.68 21.33 18.61 18.87
Lowe’s Cos. Inc. 15.00 21.99 18.78 17.65 19.09 15.54 14.78 17.84 20.72 20.32 20.09 22.36 21.14 22.50 21.16 11.96 30.02 33.94 30.97 37.80
TJX Cos. Inc. 24.43 25.52 23.28 25.22 27.24 21.73 22.68 22.20 31.03 35.26 53.90 881.78 103.90 92.86 38.61 17.13 22.88 21.70 20.04 21.11

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
EPS = (Net income (loss)Q3 2024 + Net income (loss)Q2 2024 + Net income (loss)Q1 2024 + Net income (loss)Q4 2023) ÷ No. shares of common stock outstanding
= (15,328,000,000 + 13,485,000,000 + 10,431,000,000 + 10,624,000,000) ÷ 10,515,011,008 = 4.74

3 Closing price as at the filing date of Amazon.com Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/E ratio = Share price ÷ EPS
= 197.93 ÷ 4.74 = 41.73

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Amazon.com Inc. P/E ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024.

Price to Operating Profit (P/OP)

Amazon.com Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 10,515,011,008 10,495,566,881 10,406,627,415 10,387,381,291 10,334,030,586 10,317,750,796 10,260,353,688 10,247,259,757 10,201,654,176 10,187,554,818 10,174,409,620 10,176,888,200 10,142,952,400 10,128,810,400 10,086,474,720 10,071,294,860 10,035,023,660 10,017,793,020 9,975,520,640 9,956,208,880 9,915,944,400 9,893,120,300 9,846,635,520
Selected Financial Data (US$)
Operating income (in millions) 17,411 14,672 15,307 13,209 11,188 7,681 4,774 2,737 2,525 3,317 3,669 3,460 4,852 7,702 8,865 6,873 6,194 5,843 3,989 3,880 3,157 3,084 4,420
Operating profit per share2 5.76 5.18 4.55 3.55 2.55 1.72 1.30 1.20 1.27 1.50 1.93 2.44 2.79 2.93 2.75 2.27 1.98 1.68 1.41 1.46 0.00 0.00 0.00
Share price1, 3 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30 100.44 88.07 97.15 97.53
Valuation Ratio
P/OP ratio4 34.34 32.41 39.31 48.43 50.04 81.28 81.03 86.50 81.33 89.87 64.24 64.48 60.45 56.87 62.96 72.85 76.53 93.97 80.81 68.77
Benchmarks
P/OP Ratio, Competitors5
Home Depot Inc. 13.63 14.08 12.53 12.16 13.73 13.22 12.76 14.22 19.12 16.06 16.20 17.25 16.72 18.45 17.14 12.33 15.22 15.18 13.28 13.51
Lowe’s Cos. Inc. 9.93 13.56 11.78 11.18 12.38 10.76 10.29 12.45 14.46 12.77 12.57 13.52 12.50 15.21 14.04 8.11 18.48 20.49 18.51 21.77
TJX Cos. Inc. 18.86 19.79 17.90 18.15 19.26 15.06 14.90 15.32 18.99 21.99 30.54 137.02 74.61 60.02 30.12 12.69 16.79 15.73 14.53 15.31

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
Operating profit per share = (Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024 + Operating incomeQ4 2023) ÷ No. shares of common stock outstanding
= (17,411,000,000 + 14,672,000,000 + 15,307,000,000 + 13,209,000,000) ÷ 10,515,011,008 = 5.76

3 Closing price as at the filing date of Amazon.com Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 197.93 ÷ 5.76 = 34.34

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Amazon.com Inc. P/OP ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024.

Price to Sales (P/S)

Amazon.com Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 10,515,011,008 10,495,566,881 10,406,627,415 10,387,381,291 10,334,030,586 10,317,750,796 10,260,353,688 10,247,259,757 10,201,654,176 10,187,554,818 10,174,409,620 10,176,888,200 10,142,952,400 10,128,810,400 10,086,474,720 10,071,294,860 10,035,023,660 10,017,793,020 9,975,520,640 9,956,208,880 9,915,944,400 9,893,120,300 9,846,635,520
Selected Financial Data (US$)
Net sales (in millions) 158,877 147,977 143,313 169,961 143,083 134,383 127,358 149,204 127,101 121,234 116,444 137,412 110,812 113,080 108,518 125,555 96,145 88,912 75,452 87,437 69,981 63,404 59,700
Sales per share2 58.98 57.58 56.77 55.33 53.61 52.15 51.16 50.16 49.23 47.70 46.96 46.17 45.15 43.77 41.55 38.33 34.67 32.12 29.70 28.18 0.00 0.00 0.00
Share price1, 3 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30 100.44 88.07 97.15 97.53
Valuation Ratio
P/S ratio4 3.36 2.92 3.15 3.10 2.38 2.68 2.06 2.06 2.10 2.83 2.65 3.41 3.73 3.80 4.17 4.32 4.38 4.93 3.85 3.56
Benchmarks
P/S Ratio, Competitors5
Home Depot Inc. 1.98 2.10 1.90 1.86 2.11 2.02 1.94 2.17 2.89 2.37 2.38 2.39 2.34 2.58 2.37 1.77 2.17 2.17 1.91 1.94
Lowe’s Cos. Inc. 1.27 1.43 1.25 1.17 1.33 1.37 1.31 1.56 1.79 1.51 1.45 1.46 1.33 1.60 1.31 0.71 1.23 1.20 1.02 1.23
TJX Cos. Inc. 1.92 1.98 1.76 1.77 1.88 1.47 1.52 1.50 1.81 2.05 2.15 2.48 2.33 1.96 1.77 1.34 1.76 1.66 1.54 1.66

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
Sales per share = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ No. shares of common stock outstanding
= (158,877,000,000 + 147,977,000,000 + 143,313,000,000 + 169,961,000,000) ÷ 10,515,011,008 = 58.98

3 Closing price as at the filing date of Amazon.com Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 197.93 ÷ 58.98 = 3.36

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Amazon.com Inc. P/S ratio decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Price to Book Value (P/BV)

Amazon.com Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 10,515,011,008 10,495,566,881 10,406,627,415 10,387,381,291 10,334,030,586 10,317,750,796 10,260,353,688 10,247,259,757 10,201,654,176 10,187,554,818 10,174,409,620 10,176,888,200 10,142,952,400 10,128,810,400 10,086,474,720 10,071,294,860 10,035,023,660 10,017,793,020 9,975,520,640 9,956,208,880 9,915,944,400 9,893,120,300 9,846,635,520
Selected Financial Data (US$)
Stockholders’ equity (in millions) 259,151 236,447 216,661 201,875 182,973 168,602 154,526 146,043 137,489 131,402 134,001 138,245 120,564 114,803 103,320 93,404 82,775 73,728 65,272 62,060 56,508 53,061 48,410
Book value per share (BVPS)2 24.65 22.53 20.82 19.43 17.71 16.34 15.06 14.25 13.48 12.90 13.17 13.58 11.89 11.33 10.24 9.27 8.25 7.36 6.54 6.23 5.70 5.36 4.92
Share price1, 3 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30 100.44 88.07 97.15 97.53
Valuation Ratio
P/BV ratio4 8.03 7.45 8.60 8.84 7.21 8.54 7.00 7.25 7.67 10.46 9.44 11.60 14.19 14.68 16.93 17.86 18.40 21.50 17.47 16.11 15.45 18.11 19.84
Benchmarks
P/BV Ratio, Competitors5
Home Depot Inc. 212.51 243.07 819.13 187.12 255.09 1,325.66 412.02 165.73 192.67 95.58 191.69 144.66 114.03 127.78
Lowe’s Cos. Inc. 307.81 90.79 27.86 29.56 56.37 25.96 36.00 32.50 22.70 24.01 13.54 15.37 13.85
TJX Cos. Inc. 14.69 15.38 13.78 13.86 16.35 13.53 13.52 12.14 12.85 13.82 13.27 13.68 13.99 14.17 13.72 9.42 12.92 12.53 11.88 12.79 11.07 13.06 10.74

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 259,151,000,000 ÷ 10,515,011,008 = 24.65

3 Closing price as at the filing date of Amazon.com Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 197.93 ÷ 24.65 = 8.03

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Amazon.com Inc. P/BV ratio decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.