Amazon (AMZN) revenue and profit, from its SEC filings
Every figure below is as Amazon.com, Inc. filed it with the U.S. Securities and Exchange Commission in its annual (10-K) and quarterly (10-Q) reports. Latest filing: 10-Q filed July 31, 2026.
In short
Amazon runs online stores, third-party seller services, subscriptions such as Prime, advertising, physical stores, and Amazon Web Services (AWS), its cloud-computing business.
AWS is a minority of the revenue but a large share of the operating income: the retail side sells at thin margins, the cloud side at wide ones.
Revenue went from $469.8B in fiscal 2021 to $716.9B in fiscal 2025 — growth of 11.1% a year on average.
In fiscal 2025 it was 12.4% higher than the year before.
Amazon kept 10.8% of its revenue as net profit in fiscal 2025, against 7.1% in fiscal 2021.
Free cash flow — operating cash flow minus capital expenditure — was $7.70B, less than its net income.
In its latest quarter (Q2 FY2026, to June 30, 2026) revenue was $200.6B, 19.6% more than a year earlier.
Revenue and profit by year
| Period | Revenue | Gross profit | Operating income | Net income | Net margin | Free cash flow | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|
| FY2025 to December 31, 2025 | $716.9B | $360.5B | $80.0B | $77.7B | 10.8% | $7.70B | $69.3B | $86.8B |
| FY2024 to December 31, 2024 | $638.0B | $311.7B | $68.6B | $59.2B | 9.3% | $32.9B | $58.2B | $78.8B |
| FY2023 to December 31, 2023 | $574.8B | $270.0B | $36.9B | $30.4B | 5.3% | $32.2B | $67.3B | $73.4B |
| FY2022 to December 31, 2022 | $514.0B | $225.2B | $12.2B | −$2.72B | −0.5% | −$16.9B | $71.7B | $53.9B |
| FY2021 to December 31, 2021 | $469.8B | $197.5B | $24.9B | $33.4B | 7.1% | −$14.7B | $50.9B | $36.2B |
The latest quarters
| Period | Revenue | Gross profit | Operating income | Net income | Net margin | Free cash flow | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|
| Q2 FY2026 to June 30, 2026 | $200.6B | $104.8B | $27.5B | $62.6B | 31.2% | −$8.82B | $133.3B | $78.2B |
| Q1 FY2026 to March 31, 2026 | $181.5B | $94.1B | $23.9B | $30.3B | 16.7% | −$18.2B | $122.8B | $101.8B |
| Q4 FY2025 to December 31, 2025 | $213.4B | $103.4B | $25.0B | $21.2B | 9.9% | $14.9B | $69.3B | $86.8B |
| Q3 FY2025 to September 30, 2025 | $180.2B | $91.5B | $17.4B | $21.2B | 11.8% | $430M | $55.3B | $66.9B |
| Q2 FY2025 to June 30, 2025 | $167.7B | $86.9B | $19.2B | $18.2B | 10.8% | $332M | $56.3B | $57.7B |
A quarter is taken as filed where the report states it; otherwise it is the year-to-date figure minus the one before it, which is how the fourth quarter (never filed on its own) is found.
What to watch in Amazon's statements
- Net margin, which has widened as advertising and AWS grew inside the total.
- Free cash flow, which swings with how much it spends on warehouses and data centres.
- Debt and cash, which move with those same building cycles.
How to read these figures
- Revenue vs profit — why the top line and the bottom line tell different stories.
- Reading an earnings report — where these figures come from each quarter.
- How to read a company — what to look at first.
- P/E and its traps — and why this page shows no P/E: it needs the share price, which our licences keep inside the app.
Source: the company's filings with the U.S. Securities and Exchange Commission (EDGAR). Free cash flow is operating cash flow minus capital expenditure; total debt adds long-term debt (current and non-current), commercial paper and short-term borrowings, each as filed. A dash means the company did not file that line for the period. No share price, market value or estimate appears here: those are licensed market data, shown to members in the app.
Other companies
Questions
What was Amazon's revenue in fiscal 2025?
Amazon reported revenue of $716.9B for fiscal 2025, the year that ended on December 31, 2025, in its annual report (10-K) filed with the SEC.
Is Amazon profitable?
Yes. It reported net income of $77.7B in fiscal 2025, a net margin of 10.8% — 11 cents kept as profit from every dollar of revenue.
Has Amazon made a profit every year?
Not in every one of the 5 fiscal years shown: it reported a net loss in fiscal 2022, and a profit in the others.
What is Amazon's profit margin?
In fiscal 2025 its gross margin was 50.3% (revenue minus the direct cost of what it sold) and its net margin 10.8% (what was left after every cost, interest and tax).
How much debt does Amazon have?
At the end of fiscal 2025 it reported $69.3B of debt — long-term debt, including the part due within a year, plus commercial paper and short-term borrowings as filed — against $86.8B of cash and cash equivalents.
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