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
Dec 31, 2024 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
Price to earnings (P/E) 40.99 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
Price to operating profit (P/OP) 35.40 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
Price to sales (P/S) 3.81 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
Price to book value (P/BV) 8.49 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

Based on: 10-K (reporting date: 2024-12-31), 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).

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 increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 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 increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 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 increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
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 increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Earnings (P/E)

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

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 10,597,729,352 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
Selected Financial Data (US$)
Net income (loss) (in millions) 20,004 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
Earnings per share (EPS)2 5.59 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 0.00 0.00 0.00
Share price1, 3 229.15 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30
Valuation Ratio
P/E ratio4 40.99 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
Benchmarks
P/E Ratio, Competitors5
Home Depot Inc. 24.80 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
Lowe’s Cos. Inc. 18.81 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
TJX Cos. Inc. 24.63 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

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
EPS = (Net income (loss)Q4 2024 + Net income (loss)Q3 2024 + Net income (loss)Q2 2024 + Net income (loss)Q1 2024) ÷ No. shares of common stock outstanding
= (20,004,000,000 + 15,328,000,000 + 13,485,000,000 + 10,431,000,000) ÷ 10,597,729,352 = 5.59

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

4 Q4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 229.15 ÷ 5.59 = 40.99

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 increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 2024.

Price to Operating Profit (P/OP)

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

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 10,597,729,352 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
Selected Financial Data (US$)
Operating income (in millions) 21,203 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
Operating profit per share2 6.47 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 0.00 0.00 0.00
Share price1, 3 229.15 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30
Valuation Ratio
P/OP ratio4 35.40 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
Benchmarks
P/OP Ratio, Competitors5
Home Depot Inc. 17.32 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
Lowe’s Cos. Inc. 12.58 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
TJX Cos. Inc. 19.01 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

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Operating profit per share = (Operating incomeQ4 2024 + Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024) ÷ No. shares of common stock outstanding
= (21,203,000,000 + 17,411,000,000 + 14,672,000,000 + 15,307,000,000) ÷ 10,597,729,352 = 6.47

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

4 Q4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 229.15 ÷ 6.47 = 35.40

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 increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Sales (P/S)

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

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 10,597,729,352 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
Selected Financial Data (US$)
Net sales (in millions) 187,792 158,877 147,977 143,313 169,961 143,083 134,383 127,358 149,204 127,101 121,234 116,444 137,412 110,812 113,080 108,518 125,555 96,145 88,912 75,452
Sales per share2 60.20 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 0.00 0.00 0.00
Share price1, 3 229.15 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30
Valuation Ratio
P/S ratio4 3.81 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
Benchmarks
P/S Ratio, Competitors5
Home Depot Inc. 2.46 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
Lowe’s Cos. Inc. 1.68 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
TJX Cos. Inc. 2.03 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

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Sales per share = (Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024) ÷ No. shares of common stock outstanding
= (187,792,000,000 + 158,877,000,000 + 147,977,000,000 + 143,313,000,000) ÷ 10,597,729,352 = 60.20

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

4 Q4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 229.15 ÷ 60.20 = 3.81

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 increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Book Value (P/BV)

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

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 10,597,729,352 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
Selected Financial Data (US$)
Stockholders’ equity (in millions) 285,970 259,151 236,447 216,661 201,875 182,973 168,602 154,526 146,043 137,489 131,402 134,001 138,245 120,564 114,803 103,320 93,404 82,775 73,728 65,272
Book value per share (BVPS)2 26.98 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
Share price1, 3 229.15 197.93 167.90 179.00 171.81 127.74 139.57 105.45 103.39 103.41 134.95 124.28 157.64 168.62 166.38 173.37 165.63 151.81 158.23 114.30
Valuation Ratio
P/BV ratio4 8.49 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
Benchmarks
P/BV Ratio, Competitors5
Home Depot Inc. 359.76 212.51 243.07 819.13 187.12 255.09 1,325.66 412.02 165.73 192.67 95.58 191.69
Lowe’s Cos. Inc. 307.81 90.79 27.86 29.56 56.37 25.96 36.00 32.50 22.70
TJX Cos. Inc. 15.09 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

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 285,970,000,000 ÷ 10,597,729,352 = 26.98

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

4 Q4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 229.15 ÷ 26.98 = 8.49

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 increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.