Stock Analysis on Net

Amazon.com Inc. (NASDAQ:AMZN)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Amazon.com Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 2.82 2.75 2.93 3.41 3.86
Net fixed asset turnover (including operating lease, right-of-use asset) 2.08 2.03 2.17 2.56 2.87
Total asset turnover 1.09 1.11 1.12 1.20 1.25
Equity turnover 2.85 3.52 3.40 4.13 4.52

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Amazon.com Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Amazon.com Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Amazon.com Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Amazon.com Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover

Amazon.com Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 574,785 513,983 469,822 386,064 280,522
Property and equipment, net 204,177 186,715 160,281 113,114 72,705
Long-term Activity Ratio
Net fixed asset turnover1 2.82 2.75 2.93 3.41 3.86
Benchmarks
Net Fixed Asset Turnover, Competitors2
GameStop Corp. 43.42 36.74 25.30 23.44 25.79
Home Depot Inc. 6.14 6.00 5.35 4.84 4.84
Lowe’s Cos. Inc. 5.53 5.05 4.68 3.86 3.87
TJX Cos. Inc. 8.63 9.21 6.38 7.83 7.42
Net Fixed Asset Turnover, Sector
Consumer Discretionary Distribution & Retail 3.49 3.45 3.48 3.85 4.26
Net Fixed Asset Turnover, Industry
Consumer Discretionary 3.51 3.48 3.32 3.39 3.74

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property and equipment, net
= 574,785 ÷ 204,177 = 2.82

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Amazon.com Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Amazon.com Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 574,785 513,983 469,822 386,064 280,522
 
Property and equipment, net 204,177 186,715 160,281 113,114 72,705
Operating leases 72,513 66,123 56,082 37,553 25,141
Property and equipment, net (including operating lease, right-of-use asset) 276,690 252,838 216,363 150,667 97,846
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 2.08 2.03 2.17 2.56 2.87
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
GameStop Corp. 8.50 8.01 5.90 6.20 25.79
Home Depot Inc. 4.83 4.85 4.31 3.89 4.84
Lowe’s Cos. Inc. 4.60 4.15 3.90 3.20 3.87
TJX Cos. Inc. 3.36 3.44 2.29 2.90 7.42
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Consumer Discretionary Distribution & Retail 2.56 2.53 2.56 2.84 3.52
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Discretionary 2.69 2.66 2.52 2.58 3.16

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 574,785 ÷ 276,690 = 2.08

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Amazon.com Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Total Asset Turnover

Amazon.com Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 574,785 513,983 469,822 386,064 280,522
Total assets 527,854 462,675 420,549 321,195 225,248
Long-term Activity Ratio
Total asset turnover1 1.09 1.11 1.12 1.20 1.25
Benchmarks
Total Asset Turnover, Competitors2
GameStop Corp. 1.90 1.72 2.06 2.29 2.05
Home Depot Inc. 2.06 2.10 1.87 2.15 2.46
Lowe’s Cos. Inc. 2.22 2.16 1.92 1.83 2.07
TJX Cos. Inc. 1.76 1.71 1.04 1.73 2.72
Total Asset Turnover, Sector
Consumer Discretionary Distribution & Retail 1.30 1.34 1.28 1.41 1.57
Total Asset Turnover, Industry
Consumer Discretionary 0.97 0.96 0.88 0.85 0.94

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 574,785 ÷ 527,854 = 1.09

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Amazon.com Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

Amazon.com Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 574,785 513,983 469,822 386,064 280,522
Stockholders’ equity 201,875 146,043 138,245 93,404 62,060
Long-term Activity Ratio
Equity turnover1 2.85 3.52 3.40 4.13 4.52
Benchmarks
Equity Turnover, Competitors2
GameStop Corp. 4.48 3.75 11.66 10.57 6.20
Home Depot Inc. 100.77 40.05
Lowe’s Cos. Inc. 62.35 36.59 19.57
TJX Cos. Inc. 7.85 8.09 5.51 7.01 7.72
Equity Turnover, Sector
Consumer Discretionary Distribution & Retail 4.50 5.55 4.88 6.24 7.23
Equity Turnover, Industry
Consumer Discretionary 3.87 4.21 3.75 4.84 5.85

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Equity turnover = Net sales ÷ Stockholders’ equity
= 574,785 ÷ 201,875 = 2.85

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Amazon.com Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.