Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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 balance sheet: liabilities and stockholders’ equity (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 fundamental shift in the capital structure is evident over the analyzed period, characterized by a consistent migration from liability-based financing toward equity-based financing. Total liabilities decreased from a peak of 68.47% in September 2021 to 49.66% by June 2026. Conversely, stockholders' equity rose from 31.98% in March 2021 to 50.34% in June 2026, indicating a significantly strengthened solvency position and a reduced reliance on external debt and obligations.
- Current Liabilities Analysis
- Current liabilities exhibited a sustained downward trend, declining from 35.72% in March 2021 to 22.02% by June 2026. This reduction is primarily driven by a contraction in accounts payable, which fell from 19.79% to 13.46%, and a marked decrease in accrued expenses and other liabilities, which dropped from 12.67% to 6.70%. Unearned revenue remained relatively stable for several years but showed a gradual decline toward the end of the period, reaching 1.86% in June 2026.
- Long-Term Liabilities Analysis
- Long-term liabilities showed more volatility than current liabilities but trended downward over the long term, moving from 32.30% in March 2021 to 27.64% in June 2026. A notable decline is observed in long-term lease liabilities, which decreased from 16.43% to 8.61%. Long-term debt, excluding the current portion, fluctuated significantly, peaking at 14.51% in December 2022 before declining and then spiking again to 12.99% in March 2026, suggesting periodic strategic adjustments in long-term borrowing.
- Stockholders' Equity Drivers
- The expansion of stockholders' equity was largely propelled by a substantial increase in retained earnings, which grew from 18.78% in March 2021 to 31.34% by June 2026, reflecting strong cumulative profitability. Additional paid-in capital saw an initial increase, peaking at 19.94% in June 2024, before receding to 13.66% by June 2026. Furthermore, accumulated other comprehensive income transitioned from a negative position, bottoming at -1.66% in September 2022, to a positive 6.05% by June 2026, contributing to the overall equity growth.
- Lease Liability Trends
- Both finance and operating lease liabilities decreased as a proportion of total liabilities and equity. Finance lease liabilities saw a precipitous drop from 3.05% (current) and 5.24% (long-term) in March 2021 to 0.15% (current) and 1.07% (long-term) by June 2026. Operating lease liabilities followed a similar, albeit less aggressive, downward trajectory, signaling a shift in the company's long-term asset acquisition or leasing strategy.