Amazon North America — PP&E (Net) increased by 5.5% to $122.04B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 18.4%, from $103.04B to $122.04B.
A rising value indicates significant investment in physical capacity, while a decline may suggest asset aging or a shift toward asset-light models.
The carrying value of physical assets such as warehouses, data centers, and delivery vehicles located in North America,...
Comparable to the 'Net PPE' reported by logistics-heavy companies like FedEx or UPS.
amzn_segment_north_america_property_and_equipment_net| Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|
| Value | $83.64B | $90.08B | $93.63B | $103.04B | $102.30B | $113.25B | $115.66B | $122.04B |
| QoQ Change | — | +7.7% | +3.9% | +10.0% | -0.7% | +10.7% | +2.1% | +5.5% |
| YoY Change | — | +7.7% | +3.9% | +10.0% | — | — | — | +18.4% |
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