Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Amazon.com Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 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).
- Net Income (Loss)
- The net income exhibited considerable volatility over the periods analyzed. It showed strong growth reaching a peak at the end of 2021, followed by a sharp decline in early 2022 into negative territory. Subsequently, profits recovered steadily with significant increases observed in late 2023 through 2025, suggesting a rebound and growth phase.
- Depreciation and Amortization
- Depreciation and amortization expenses consistently increased quarter over quarter with some fluctuations, reflecting ongoing capital investments and asset utilization. The trend peaked towards the end of the period, indicating substantial capital expenditure and asset base expansion.
- Stock-Based Compensation
- Stock-based compensation showed an overall upward trajectory, peaking intermittently which may indicate periods of increased employee incentivization or stock option grants. The fluctuations reflect variable compensation strategies with heightened levels observed in mid-2023 and some moderation thereafter.
- Non-Operating Income (Expense), Net
- This category displayed significant swings between positive and negative values, with notable large negative spikes in late 2021 and early 2025, and positive spikes midway through 2022. This volatility suggests irregular non-operating gains or losses, possibly from investments, currency fluctuations, or other one-time events.
- Deferred Income Taxes
- Deferred tax amounts moved irregularly, alternating between positive and negative values. Large negative entries in late 2020 and into 2022 indicate periods of tax asset usage or valuation adjustments, while improvements and positive amounts toward the end of the timeline suggest stabilization or reversals in deferred tax positions.
- Inventories
- Inventory levels fluctuated significantly, with negative values indicative of inventory reduction or write-downs in several quarters, especially in 2020 and 2022. Positive spikes in inventory in late 2022 and 2023 suggest restocking or accumulation, possibly in response to changing demand or supply chain conditions.
- Accounts Receivable, Net and Other
- Accounts receivable experienced wide variation, with both large decreases and increases. Negative movements suggest collection efforts or lower sales, while positive values in some periods may reflect increased sales or extension of credit. The irregular pattern indicates dynamic customer payment behavior or business cycles.
- Other Assets
- Other assets remained negative and relatively stable in the later quarters, suggesting a consistent change or write-down occurring regularly in this asset category.
- Accounts Payable
- Accounts payable numbers fluctuated widely, with some quarters showing significant decreases and others substantial increases. These swings may denote variable supplier payment timing or shifts in procurement strategies. Notably large negative changes suggest periods of aggressive paydown of liabilities.
- Accrued Expenses and Other
- Accrued expenses and other liabilities showed inconsistent patterns with both large negative and positive movements, reflecting variations in accrued costs and other short-term liabilities. Increased liabilities in some quarters denote growing operational costs or accruals.
- Unearned Revenue
- Unearned revenue figures varied but generally maintained a modest positive balance, indicating ongoing receipt of customer payments in advance. Fluctuations suggest changes in sales terms or customer prepayments.
- Changes in Operating Assets and Liabilities
- The changes in operating assets and liabilities displayed significant volatility, with sharp negative and positive values. These fluctuations imply dynamic working capital management, with periods of both releasing and investing in working capital impacting cash flows.
- Adjustments to Reconcile Net Income to Net Cash from Operating Activities
- Adjustments showed large positive peaks, particularly in 2020 and 2022, reflecting significant non-cash expenses or changes in operating assets/liabilities that reconcile net income to cash flows, aid in smoothing operational cash flow reporting.
- Net Cash Provided by (Used in) Operating Activities
- Operating cash flows demonstrated notable variability but generally showed strong positive cash generation after early 2022, consistent with recovering net income trends. This indicates efficient conversion of earnings into cash.
- Purchases of Property and Equipment
- Capital expenditures consistently increased over time, peaking near the end of the period. This pattern suggests aggressive investment in property, plant, equipment, and possibly content, reflecting growth and expansion initiatives.
- Proceeds from Property and Equipment Sales and Incentives
- Proceeds from assets sales and incentives remained relatively stable with minor fluctuations, implying routine disposals or incentive receipts without major impact on overall investing cash flow.
- Acquisitions, Net of Cash Acquired, and Other Investments
- Acquisition activities exhibited irregular behavior, with some large one-time outflows especially in early to mid-2022, followed by smaller and sporadic outflows, indicating selective investment and acquisition patterns.
- Sales and Maturities of Marketable Securities
- Proceeds from sales and maturities of marketable securities showed substantial spikes in some quarters, particularly in 2020 and early 2022, illustrating deliberate portfolio management or liquidity events.
- Purchases of Marketable Securities
- Purchases of marketable securities remained high but decreased notably in late 2021 and 2022, reflecting adjustments in investment strategy or cash management priorities over time.
- Net Cash Provided by (Used in) Investing Activities
- Investing cash flows were predominantly negative, attributed mainly to high capital expenditures and securities purchases. Occasional positive cash flows indicate sales or maturities of investments but overall capital deployment trends suggest expansionary investment.
- Common Stock Repurchased
- Stock repurchases were limited and only occurred in late 2021, indicating a potential buyback strategy executed selectively in this period.
- Proceeds from and Repayments of Short-Term Debt
- Short-term debt showed active management with both proceeds and repayments fluctuating widely but generally balancing out, suggesting tactical borrowing and repayment to manage liquidity requirements.
- Proceeds from and Repayments of Long-Term Debt
- Long-term debt inflows and outflows displayed irregular timing with major inflows seen in 2021 and early 2022, while large repayments occurred mostly in mid to late 2022 and beyond, reflecting refinancing or debt maturity management.
- Principal Repayments of Finance Leases and Financing Obligations
- Repayments under finance leases and other financing obligations steadily decreased over time, indicating reduced lease liabilities or refinanced obligations.
- Net Cash Provided by (Used in) Financing Activities
- Financing activities experienced high volatility, alternating between inflows and outflows. Periods of strong cash inflows in 2021 contrast with significant outflows in other years, reflecting changing capital structure, debt management, and shareholder returns.
- Foreign Currency Effect on Cash
- The foreign currency impact on cash was variable with moderate positive and negative effects, showing sensitivity of cash balances to exchange rate movements across different periods.
- Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash
- The net change in cash fluctuated widely with alternating periods of cash inflows and outflows. Early periods saw declines, followed by substantial increases in 2020, late 2022, and 2024, indicating cyclical liquidity needs and effective cash management over time.