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Amazon AMZN Operating margin

Operating margin at other companies

Lowe's Companies logo
Lowe's CompaniesLOW
11.5%-0.8pp
Walmart
 logo
Walmart WMT
4.2%-0.2pp
Apple logo
AppleAAPL
32.6%+0.8pp
Best Buy logo
Best BuyBBY
3.7%+0.9pp
Microsoft logo
MicrosoftMSFT
46.8%+1.6pp
Costco Wholesale logo
Costco WholesaleCOST
3.8%+0.1pp

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
Net margin10.6%+0.5pp

Returns & leverage

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Return on equity21.1%-4.1pp
Debt / equity0.5×0.0×
Current ratio1.2×+0.1×

Where this comes from

Calculated from Amazon’s reported figures.

Based on trailing twelve months.

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 operating margin?
Amazon (AMZN) reported operating margin of 11.5% in Q1 2026.
How has Amazon's operating margin changed year-over-year?
Amazon's operating margin increased by 4.3% year-over-year, from 11% to 11.5%.
What is the long-term trend for Amazon's operating margin?
Over 4 years (2021 to 2025), Amazon's operating margin has grown at a 15.8% compound annual growth rate (CAGR), from 24.8% to 44.6%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.