Stock Analysis on Net
Stock Analysis on Net

Amazon.com Inc. (NASDAQ:AMZN)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Amazon.com Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income (loss) 30,425 (2,722) 33,364 21,331 11,588
Net noncash charges 66,062 70,360 32,574 31,252 29,364
Changes in operating assets and liabilities (11,541) (20,886) (19,611) 13,481 (2,438)
Net cash provided by operating activities 84,946 46,752 46,327 66,064 38,514
Purchases of property and equipment (52,729) (63,645) (61,053) (40,140) (16,861)
Proceeds from property and equipment sales and incentives 4,596 5,324 5,657 5,096 4,172
Proceeds from short-term debt, and other 18,129 41,553 7,956 6,796 1,402
Repayments of short-term debt, and other (25,677) (37,554) (7,753) (6,177) (1,518)
Proceeds from long-term debt — 21,166 19,003 10,525 871
Repayments of long-term debt (3,676) (1,258) (1,590) (1,553) (1,166)
Principal repayments of finance leases (4,384) (7,941) (11,163) (10,642) (9,628)
Free cash flow to equity (FCFE) 21,205 4,397 (2,616) 29,969 15,786

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Amazon.com Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Amazon.com Inc. FCFE increased from 2021 to 2022 and from 2022 to 2023.

Price to FCFE Ratio, Current

Amazon.com Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 10,387,381,291
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 21,205
FCFE per share 2.04
Current share price (P) 177.23
Valuation Ratio
P/FCFE 86.82
Benchmarks
P/FCFE, Competitors1
Home Depot Inc. 17.84
Lowe’s Cos. Inc. 16.42
TJX Cos. Inc. 27.79
P/FCFE, Sector
Consumer Discretionary Distribution & Retail 44.03
P/FCFE, Industry
Consumer Discretionary 31.43

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Amazon.com Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 10,387,381,291 10,247,259,757 10,176,888,200 10,071,294,860 9,956,208,880
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 21,205 4,397 (2,616) 29,969 15,786
FCFE per share3 2.04 0.43 -0.26 2.98 1.59
Share price1, 4 171.81 103.39 157.64 165.63 100.44
Valuation Ratio
P/FCFE5 84.16 240.95 — 55.66 63.35
Benchmarks
P/FCFE, Competitors6
Home Depot Inc. 19.60 19.87 15.41 14.99 16.61
Lowe’s Cos. Inc. 7.08 13.55 12.28 8.69 20.45
TJX Cos. Inc. 33.59 — 10.55 19.71 21.79
P/FCFE, Sector
Consumer Discretionary Distribution & Retail 41.58 51.89 59.10 38.09 38.19
P/FCFE, Industry
Consumer Discretionary 32.07 38.31 86.53 30.52 28.87

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 21,205,000,000 ÷ 10,387,381,291 = 2.04

4 Closing price as at the filing date of Amazon.com Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 171.81 ÷ 2.04 = 84.16

6 Click competitor name to see calculations.