Analysis of Inventory
Inventory Disclosure
Amazon.com Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventories | 38,325) | 34,214) | 33,318) | 34,405) | 32,640) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The reported inventories exhibited a generally increasing trend over the five-year period. Initial values demonstrated growth, followed by a slight contraction, and then resumed an upward trajectory.
- Overall Trend
- From December 31, 2021, to December 31, 2022, inventories increased from US$32,640 million to US$34,405 million, representing a growth of approximately 5.4%. A modest decrease was then observed between December 31, 2022, and December 31, 2023, with inventories falling to US$33,318 million. This represents a decline of roughly 3.1%. The trend reversed again, with inventories increasing to US$34,214 million by December 31, 2024, and further increasing to US$38,325 million by December 31, 2025. The increase from 2024 to 2025 represents a growth of approximately 11.7%.
- Growth Rates
- The highest year-over-year growth occurred between 2021 and 2022 at 5.4%. The largest decline occurred between 2022 and 2023, at 3.1%. The most substantial increase occurred between 2024 and 2025, at 11.7%.
The inventory levels demonstrate volatility, with periods of growth interspersed with contraction. The most recent period shows a significant increase, potentially indicating increased sales expectations, strategic stockpiling, or supply chain adjustments. Further investigation into the underlying drivers of these fluctuations would be beneficial.