Market capitalisation
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Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·AMZN
Preparing the analysis
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NASDAQ·AMZN
Amazon.com, Inc.
Share price$259.30Price as of: Nov 6, 2026
Amazon.com, Inc. (AMZN) is a company listed on NASDAQ, classified under Specialty Retail.
Amazon combines online retail, third-party services, digital advertising, cloud infrastructure through AWS, physical stores, and subscriptions, serving consumers, businesses, and content creators.
Revenue · FY 2025
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Sales generated during the period, before costs and expenses.
Net margin · FY 2025
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Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,38 come from Online Stores.
Online Stores is its largest source of revenue (37.6%), followed by Third-Party Seller Services (24.0%). Here you will see what it sells, where, and how that mix is changing.
$717bnrevenue in FY 2025
7business lines with data
59%of sales, in North America Segment
Full fiscal year ended Dec 31, 2025
After that close
Q3 2026, ended Sep 30, 2026: total revenue +12.1% against the same quarter a year earlier.
This is the revenue of the whole company. The split by lines and regions on this page is still that of the full fiscal year.01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2025
02Where revenue comes from
One line weighs far more than the rest.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
No room for a label in the mosaic
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
It depends on one main market.
North America Segment is its largest market, with 59.5% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2025
04How the mix is changing
Online Stores is losing weight.
Weight of each part in 2024 and in 2025. A line gains weight when it grows faster than the total.
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
Growth in 2025 depended less on Online Stores: it brought only 28.2% of the revenue increase, dropping its share to 37.6%, while AWS and Advertising accelerated.
That profitability also shifted to AWS or Advertising: without margin by line, it's unknown if profit still relies more on other large lines.
02
The International Segment brought 36.8% of regional growth, though it weighed just 17.6%; thus, the business now depends less on North America, which shrank.
That International will sustain this growth rate: the 2025 surge might reflect a one-off change, and there's no breakdown for later periods.
03
Net margin improved (from 9.3% to 10.8%), indicating higher overall profitability in 2025, without knowing which lines contributed most.
That the higher margin resulted from AWS or International growth: if a larger, slower line was more profitable, it may still underpin earnings.
Our take
In 2025, Amazon relies less on its traditional business and more on new lines and markets, but the main profit source remains unseen.
- 01Shown by the figures
Less concentration, new drivers take the lead
In 2025, Amazon became less concentrated in lines and regions: Online Stores and North America lost share, while AWS, Advertising, and International contributed much of the relative growth. Profit improved as well, though it's unclear if it came from the fastest-growing areas.
See the calculations behind it
- Online Stores brought $22.3B of the $79B by which revenue grew in FY 2025 (28.2%), although it weighed 38.7%. Without that line, the rest grew 14.5%.
- Dependence on Online Stores falls: from 38.7% of revenue in FY 2024 to 37.6% in FY 2025.
- North America Segment brings 59.5% of sales (68.7% in FY 2024). The fastest-growing region is International Segment: +72.5% against +12.4% overall.
- Online Stores accounts for 28.2% of the change in revenue in FY 2025 and weighed 38.7%.
- International Segment brought 36.8% of the growth in sales by region in FY 2025, weighing 17.6%.
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
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