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Amazon AMZN Debt-to-equity

Debt-to-equity at other companies

International Business Machines logo
International Business MachinesIBM
2.3×-0.4×
Walmart
 logo
Walmart WMT
0.8×0.0×
TJX Companies logo
TJX CompaniesTJX
1.4×-0.2×
Apple logo
AppleAAPL
0.8×-0.6×
Best Buy logo
Best BuyBBY
1.4×-0.1×
Microsoft logo
MicrosoftMSFT
0.3×0.0×

Other financials

Income statement

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Revenue$181.52B+16.6%
Gross profit$94.1B+19.5%
Operating income$23.9B+29.6%
Net income$30.3B+76.6%
EPS (diluted)$2.78+74.8%

Balance sheet

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Cash & equivalents$101.82B+53.8%
Total debt$232.71B+52.2%
Total equity$441.91B+44.5%
Total assets$916.63B+42.5%

Cash flow

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Operating cash flow$26.0B+53.0%
CapEx$44.2B+76.7%
Free cash flow-$18.2B-127%

Valuation

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Market cap$2.55T+10.9%
Enterprise value$2.69T+12.5%
P/E32.3×-2.6×
P/S3.4×-0.1×

Profitability

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Gross margin50.6%+1.4pp
Operating margin11.5%+0.5pp
Net margin10.6%+0.5pp

Returns & leverage

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Return on equity21.1%-4.1pp
Current ratio1.2×+0.1×

Where this comes from

Calculated from Amazon’s reported figures.

Based on the most recent quarter.

The official record: Amazon’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Amazon's debt-to-equity?
Amazon (AMZN) reported debt-to-equity of 0.5× in Q1 2026.
How has Amazon's debt-to-equity changed year-over-year?
Amazon's debt-to-equity increased by 5.3% year-over-year, from 0.5× to 0.5×.
What is the long-term trend for Amazon's debt-to-equity?
Over 4 years (2021 to 2025), Amazon's debt-to-equity has grown at a -18.9% compound annual growth rate (CAGR), from 4.2× to 1.8×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.