Amazon.com, Inc. (AMZN) Stock

Amazon.com, Inc. (AMZN) is a Consumer Discretionary stock trading at $246.80 (as of 2026-07-17), with a market capitalization of $2.65T and a trailing P/E of 29.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Amazon.com, Inc. operates retail and subscription offerings through online and physical stores, along with programs for third-party sellers and content publishing. It also manufactures devices and produces media, and provides cloud services via Amazon Web Services (AWS), serving consumers, sellers, developers, enterprises, content creators, and advertisers.

Understand Amazon.com, Inc.: how it makes money

Amazon sells consumer products and subscriptions through online and physical stores, and it makes money through three streams, North America retail sales, International retail sales, and AWS cloud services, with additional advertising revenue.

Amazon’s profit engine is the combination of retail commerce (including third-party sellers) and two monetization layers on top of its customer base, AWS and advertising.

Revenue by segment (latest quarter)
North America$104.1B
International$39.8B
AWS$37.6B

Business quality (Mixed): High, because reportable segments align to the provided total, and the operating KPI set includes investor-watched drivers for both AWS (AWS Revenue) and retail monetization (Amazon Advertising Revenue).

Valuation: At 29× earnings, AMZN trades 49% above the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

  • AWS is a core growth and scale leg: AWS Revenue is 37.6 (USD_B), and AWS Incremental Revenue Quarter Over Quarter is 1.1 (USD_B), with Amazon Bedrock Customers at 125000.
  • Retail monetization is supported by advertising: Advertising Revenue is 21.3 (USD_B), Amazon Advertising Revenue is 17.2 (USD_B), and Advertising Revenue Added Year Over Year is 2.0 (USD_B).
  • Marketplace participation is material: Third-Party Seller Unit Mix is 61.0 (percent), which indicates Amazon retail includes substantial sales activity from third-party sellers.

Bear case

  • If AWS growth decelerates, results can be pressured: AWS Incremental Revenue Quarter Over Quarter is 1.1 (USD_B). If that incremental momentum weakens, it can reduce the contribution from the AWS segment.
  • Advertising growth may not hold pace: Advertising Revenue Added Year Over Year is 2.0 (USD_B). If advertising added year over year slows, the advertising monetization layer could contribute less to overall performance.
  • Reliance on marketplace mix introduces mix risk: Third-Party Seller Unit Mix is 61.0 (percent). Shifts in that mix could change the economics of retail sales activity.
Valuation — source: SEC EDGAR (first-party)
Price$246.80
Market Cap$2.65T
P/E Ratio29.2
EV / EBITDA17.1
Price / Book6.01
Price / Sales3.57
FCF Yield-0.1%
DCF Value (model)$101.40
DCF Upside vs Price-58.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$716.92B
Net Margin10.8%
Revenue Growth (YoY)16.6%
EPS Growth (YoY)74.1%
FCF Growth (YoY)127.0%
Financial Health — source: SEC EDGAR
Altman Z-Score5.55 (safe)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E29.2
Sector P/E (Consumer Discretionary)21.6
Industry P/E (Retail)19.1
vs Sector35.6%
vs Industry53.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)36
Top Institutional HolderVANGUARD GROUP INC ($195.14B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorConsumer Discretionary
IndustryRetail
CEOAndrew R. Jassy
Employees1,560,000
CountryUS
IPO Date1997-05-15

Related Companies (Business model: First-Party E-commerce (Own-Inventory or Own-Platform Retail) + Two-Sided Marketplace + Cloud Infrastructure Platform / Consumption-Priced IaaS and PaaS + Ad-Supported Digital Media / Social; 8 closest by market cap; US-domiciled)

  • Alphabet Inc. (GOOG)
  • Microsoft Corporation (MSFT)
  • Meta Platforms, Inc. (META)
  • Walmart Inc. (WMT)
  • The Walt Disney Company (DIS)
  • Uber Technologies, Inc. (UBER)
  • AppLovin Corporation (APP)
  • Booking Holdings Inc. (BKNG)
AMZN earnings history · AMZN institutional & insider holders · AMZN KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.