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AmazonAMZNCompetitor analysis, valuation and peers

United States · USD·Consumer Discretionary›Internet Retail

Runs the largest US online store and the leading cloud-computing platform (AWS), plus ads, media and logistics.

Momentum neutral 46
Mkt cap
$2.80T
US dollars, full cap
Free float
91%
of shares outstanding
$/day
$12.3B
20-day average traded
Fwd P/E
26.3×
forward earnings
ROIC−WACC
-1.1 pp
WACC 11.7%
Hurdle
n/a
no reverse DCF
Official | Implied
AA / A-
agencies · bond market
Next earnings
90 days
4 Feb 2027
Close · USD$259.30
1D-0.3%
1W+7.9%
1M+2.1%
3M-6.8%
6M-4.9%
YTD+12.3%
1Y+3.6%
ATR %3.5%
Beta1.43
52w lowhigh9.7% off high

What Amazon does

Runs the largest US online store and the leading cloud-computing platform (AWS), plus ads, media and logistics.

Retail sales bring in most of the revenue, but the profit comes largely from AWS, which rents computing and storage by usage, and from advertising sold on its shopping sites. Third-party sellers pay fees for listing and fulfilment, and Prime subscriptions keep shoppers buying more often.

Products and services

  • Amazon Web Services (AWS)
  • Online & third-party marketplace retail
  • Advertising
  • Prime subscription & logistics
  • Devices (Alexa, Kindle)

Customers

  • consumers
  • third-party sellers
  • enterprises/developers (AWS)
  • advertisers

Where it sits in the supply chain

  • E-commerce & cloud computing
  • Retail marketplace + cloud…
  • Online retail, AWS cloud, advertising…

What could go right

  • AWS AI/cloud demand
  • Advertising growth

What could go wrong

  • Regulatory/antitrust scrutiny
  • Retail margin pressure

Moat: wide (scale, network effects, distribution). Massive logistics/fulfillment scale and AWS's cloud lead create durable advantages competitors struggle to match.

Headquarters: Seattle, Washington, US · Founded: 1994 · Employees: 1,576,000

Named competitors

Amazon at a glance

Size Amazon (AMZN) is a United States Consumer Discretionary company (Internet Retail) with a market value of $2.80T, the 6th largest of 3,117 United States companies the cockpit tracks. Shares closed at $259.30 on 6 Nov 2026.

Performance Over six months the shares fell 4.9%, against +7.8% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 21 in its peer set.

Growth Revenue grew 15.3% over the last twelve months (peer median +13.3%); the operating margin is 13.3% (peer median 7.3%).

Valuation It trades at 26.3× forward earnings against a peer median of 19.6× (7th most expensive of 19).

Capital Return on invested capital runs 1.1 points below its cost of capital (11.7% WACC).

Credit Amazon has 70 bonds outstanding ($161B), rated AA by the agencies and trading like A- at a weighted spread of 91 bp.

Short interest Short interest is 0.9% of the free float (15 Oct 2026).

Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).

Relative performance

10012011 May 202611 Aug 20266 Nov 2026Peer median 108AMZN 96
Six months, rebased to 100: Amazon against the median of its 20 peers (local-currency closes).

Amazon financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$797B$717B$638B$575B$514B
Revenue growth—+12%+11%+12%—
Gross profit$410B$361B$312B$270B$225B
EBITDA$186B$150B$122B$86.3B$55.4B
Net income$135B$77.7B$59.2B$30.4B-$2.72B
Free cash flow-$46.9B$7.70B$32.9B$32.2B-$16.9B
Capital expenditure$215B$132B$83.0B$52.7B$63.6B
Total debt$295B$170B$148B$155B$155B

Quarterly statements and history in the cockpit →

Amazon competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%+40%-20%0%+20%9988MELIEBAYSE9618CPNGNYKAACHWY4755ETSYZALGLBE309247324385300209GICREALLUXEAMZN6-month return →1-month return →
Up and to the right = strong over both horizons. Amazon is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%0×100×200×9988MELIEBAYSE9618CPNGNYKAAETSYGLBEREALLUXEAMZNRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Amazon is the large dot.

Amazon competitors and peer comparison

Head to head with its named competitors (AMZN vs WMT vs MSFT vs GOOGL)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Amazon AMZN$2.80T-5%+15%13%26.3×n/a
Walmart WMT$996B-4%+6%4%41.8×14.7%
Microsoft MSFT$3.94T+28%+18%47%25.5×17.2%
Alphabet Inc. (Class A) GOOGL$3.47T-29%+22%33%20.5×18.5%
Alibaba Group Holding Limited Sponsored ADR BABA$255B-22%+8%4%14.2×n/a
Shopify SHOP.TO$193B+38%+32%18%67.4×54.0%

How Amazon compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Amazon against its 20 peers (data as of 6 Nov 2026)
MeasureAMZNPeer medianRank in peer set
1-month return+2.1%+4.6%9th lowest of 21
6-month return-4.9%+7.8%6th lowest of 21
Distance from 52-week high-9.7%-20.9%6th highest of 21
Revenue growth (TTM)+15.3%+13.3%10th highest of 21
Operating margin13.3%7.3%8th highest of 21
Forward P/E26.3×19.6×7th most expensive of 19
ROIC minus cost of capital-1.1 pp+9.3 pp6th lowest of 19
EV / EBITDA16.1×14.5×7th most expensive of 14
Net debt / EBITDA1.0×0.0×7th most indebted of 17
Bond spread91 bpn/a—

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Amazon AMZNUnited States$2.80T-5%+15%13%26.3×n/an/a
Baba-w 9988.HKHong Kong$266B-25%+8%4%16.4×n/an/a
MercadoLibre MELIUnited States$76.6B-8%+46%8%32.0×11.9%+48.7%
eBay EBAYUnited States$53.5B+14%+15%21%18.4×15.4%+4.6%
Sea Limited Sponsored ADR SEUnited States$49.1B-13%+43%8%18.0×11.7%+39.3%
Jd-sw 9618.HKHong Kong$34.8B-5%+8%0%9.2×14.4%+11.1%
Coupang CPNGUnited States$29.2B-4%+7%-3%55.9×n/an/a
FSN E-Commerce Ventures NYKAA.NSIndia$10.7B+31%+28%5%209.2×n/an/a
Chewy CHWYUnited States$9.07B-2%+6%3%24.1×16.8%+12.0%
Rakuten 4755.TJapan$8.59B-18%+11%6%n/a-2.0%+11.4%
Etsy ETSYUnited States$7.75B+40%+1%18%19.7×12.8%+10.8%
Zalando ZAL.DEGermany$7.64B+42%+18%4%19.6×7.6%+9.1%
Global-e Online GLBEUnited States$7.22B+44%+31%14%30.9×23.4%+47.8%
Vipshop Holdings Ltd Sponsored ADR VIPSUnited States$6.55B-4%+2%7%5.4×-20.3%0.0%
Zozo 3092.TJapan$6.41B+8%+6%30%19.6×-5.0%+9.2%
USS 4732.TJapan$5.34B+8%+11%52%18.7×-0.8%+8.7%
Mercari 4385.TJapan$3.76B-5%+19%19%15.6×n/an/a
Xingyun Technology 300209.SZChina$3.15B+30%+978%23%n/an/an/a
Global Industrial GICUnited States$1.77B+59%+10%8%22.4×1.3%+6.0%
RealReal REALUnited States$1.61B+25%+18%0%47.8×n/an/a
LuxExperience B.V. Sponsored ADR LUXEUnited States$1.40B+20%+111%-6%194.0×n/an/a

Amazon bonds and credit

Amazon has 70 bonds outstanding with $161B face value. The agencies rate it AA; its bonds trade like A-. Weighted yield 5.42%, a spread of 91 bp over government bonds.

Every bond, yield and spread in the cockpit →

Questions

Who are Amazon's main competitors?
Named competitors: Walmart (WMT), Microsoft (Azure) (MSFT), Google (Google Cloud) (GOOGL), Alibaba (BABA), Shopify (SHOP.TO). The cockpit's measured peer set (industry) also includes Baba-w (9988.HK), MercadoLibre (MELI), eBay (EBAY), Sea Limited Sponsored ADR (SE), Jd-sw (9618.HK), Coupang (CPNG).
Is Amazon expensive compared with its peers?
On forward p/e it trades at 26.3× against a peer median of 19.6×, 7th most expensive of 19 in its peer set.
How has Amazon stock performed?
Over six months to 6 Nov 2026 the shares returned -4.9% against +7.8% for the median peer; over one year +3.6%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.