Common-Size Balance Sheet: Assets
Quarterly Data
Amazon.com Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets fluctuated over the observed periods. Initially, it rose from 12.29% in March 2020 to a peak of 14.5% by June 2020, followed by a general decline reaching its lowest point around 7.83% in September 2021. Subsequently, the ratio experienced several increases and decreases, culminating in a moderate rise towards the end of the timeline, stabilizing near 10.29% by March 2025. This pattern indicates periodic adjustments in liquidity management.
- Marketable Securities
- The percentage of marketable securities exhibited a decreasing trend overall. Starting at 9.99% in March 2020, the ratio grew to peak near 14.23% by December 2021. After that, a significant decline occurred, dropping below 3.0% between early 2023 and late 2024. Slight recoveries were observed in the last few quarters, ending at 4.41% in March 2025. This suggests a tapering in holdings of liquid investment instruments during the latter periods.
- Inventories
- Inventory levels as a share of total assets showed moderate volatility. The ratio generally hovered between approximately 5.5% and 9%, starting at 8.52% in March 2020, slightly dipping and rising over time, with a declining tendency after 2021. The lowest value of 5.48% was recorded in March 2025, suggesting more efficient inventory management or shifts in operational focus during recent quarters.
- Accounts Receivable, Net and Other
- The share represented by accounts receivable and related items remained relatively stable, typically within a narrow range of about 7.3% to 9.9%. The ratio saw a gradual increase from around 7.52% in March 2021 to a peak of 9.9% in December 2023 before mildly decreasing again towards March 2025. This stability reflects consistency in credit sales and collections processes over the period.
- Current Assets
- Current assets as a percentage of total assets showed a declining trend through the periods. From a high near 42.94% in June 2020, there was a steady decrease to about 28.7% by March 2025. This shift may indicate a strategic pivot towards increasing long-term asset holdings or changes in operational liquidity requirements.
- Property and Equipment, Net
- Property and equipment consistently constituted a substantial and generally increasing share of total assets. Beginning at approximately 35.16% in March 2020, this ratio rose steadily to a range around 40% to 42% from 2022 onwards, reaching 42.41% by March 2025. The sustained increase suggests ongoing investment in fixed assets and infrastructure.
- Operating Leases
- The proportion of operating leases relative to total assets remained mostly stable with slight fluctuations, ranging between roughly 11.05% and 14.7%. After a peak near 14.7% in early 2023, the figure gradually decreased to around 12.2% by early 2025, implying some reduction in leased asset reliance or amortization effects.
- Goodwill
- Goodwill's share of total assets generally declined from 6.66% in March 2020 to a low of 3.59% by March 2025. This reduction suggests impairment, amortization, or revaluation impacts on acquired intangible assets during the analyzed timeframe.
- Other Assets
- Other assets demonstrated a noticeable increasing trend. Initially around 7.44% in March 2020, this category grew steadily, reaching above 13% by March 2025. The rising proportion indicates expanding miscellaneous or non-core asset holdings.
- Long-Term Assets
- The relative weight of long-term assets increased from 61.13% in March 2020 to over 70% after 2022, culminating near 71.3% in March 2025. This expansion aligns with the growth observed in property and equipment and other assets, showing a strategic emphasis on long-term asset investment.