Common-Size Income Statement
Quarterly Data
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- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Amazon.com Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
A structural shift in the revenue model is evident, characterized by a sustained transition from product-based sales to service-based revenue. This evolution is accompanied by a significant expansion in gross and operating margins, reflecting improved operational efficiency and a more favorable revenue mix over the analyzed period.
- Revenue Composition
- A consistent migration in the revenue mix is observed. Net product sales declined from 52.98% of net sales in March 2021 to 38.68% by June 2026. Conversely, net service sales grew from 47.02% to 61.32% over the same period. This indicates a strategic pivot toward higher-margin service offerings, which has fundamentally altered the company's income profile.
- Gross Margin and Cost of Sales
- The cost of sales demonstrates a downward trend, decreasing from a peak of 60.28% in December 2021 to 47.74% by June 2026. This contraction in cost of sales has driven a corresponding increase in gross profit, which rose from 42.50% in March 2021 to 52.26% by June 2026. The expansion suggests either a reduction in the direct cost of goods sold or the positive impact of the increasing proportion of service-based revenue.
- Operating Expenditure Analysis
- Operating expenses show divergent trends across different functional areas. Fulfillment costs remained relatively stable, oscillating between 14.45% and 17.41%. Technology and infrastructure expenses exhibited an upward trajectory, increasing from 11.51% in March 2021 to 16.53% by June 2026, suggesting increased investment in technical capabilities. In contrast, general and administrative expenses decreased from 1.83% to 1.39%, and sales and marketing expenses saw a general reduction from early peaks, ending at 5.83% in June 2026.
- Operating and Net Profitability
- Operating income margin experienced significant volatility, reaching a low of 1.83% in December 2022 before entering a strong recovery phase to reach 13.69% by June 2026. Net income followed a similar pattern of recovery; after dipping into negative territory during 2022, it surged to 31.23% by June 2026. This final surge is heavily influenced by a substantial increase in non-operating income, which reached 26.62% of net sales in the final quarter, offsetting an increase in income tax provisions which rose to 9.07%.