Stock Analysis on Net

Amazon.com Inc. (NASDAQ:AMZN)

$24.99

Analysis of Reportable Segments

Microsoft Excel

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Segment Profit Margin

Amazon.com Inc., profit margin by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS

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).

Segment profitability ratio Reportable segment The company
Segment profit margin North America North America segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
International International segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
AWS AWS segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Profit Margin: North America

Amazon.com Inc.; North America; segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss)
Net sales
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin North America North America segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Profit Margin: International

Amazon.com Inc.; International; segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss)
Net sales
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin International International segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment Profit Margin: AWS

Amazon.com Inc.; AWS; segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss)
Net sales
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin AWS AWS segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Return on Assets (Segment ROA)

Amazon.com Inc., ROA by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS

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).

Segment profitability ratio Reportable segment The company
Segment ROA North America North America segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
International International segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
AWS AWS segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment ROA: North America

Amazon.com Inc.; North America; segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss)
Assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating income (loss) ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA North America North America segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment ROA: International

Amazon.com Inc.; International; segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss)
Assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating income (loss) ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA International International segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment ROA: AWS

Amazon.com Inc.; AWS; segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss)
Assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating income (loss) ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA AWS AWS segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Asset Turnover

Amazon.com Inc., asset turnover by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS

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).

Segment activity ratio Reportable segment The company
Segment asset turnover North America North America segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
International International segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
AWS AWS segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Asset Turnover: North America

Amazon.com Inc.; North America; segment asset turnover calculation

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
Assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover North America North America segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Asset Turnover: International

Amazon.com Inc.; International; segment asset turnover calculation

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
Assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover International International segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Segment Asset Turnover: AWS

Amazon.com Inc.; AWS; segment asset turnover calculation

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
Assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover AWS AWS segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation

Amazon.com Inc., capital expenditures to depreciation by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS

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).

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation North America North America segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
International International segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
AWS AWS segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Segment Capital Expenditures to Depreciation: North America

Amazon.com Inc.; North America; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net additions to property and equipment
Depreciation and amortization expense on property and equipment
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Net additions to property and equipment ÷ Depreciation and amortization expense on property and equipment
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation North America North America segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: International

Amazon.com Inc.; International; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net additions to property and equipment
Depreciation and amortization expense on property and equipment
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Net additions to property and equipment ÷ Depreciation and amortization expense on property and equipment
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation International International segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: AWS

Amazon.com Inc.; AWS; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net additions to property and equipment
Depreciation and amortization expense on property and equipment
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Net additions to property and equipment ÷ Depreciation and amortization expense on property and equipment
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation AWS AWS segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net sales

Amazon.com Inc., net sales by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS
Consolidated

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).


Operating income (loss)

Amazon.com Inc., operating income (loss) by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS
Consolidated

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).


Assets

Amazon.com Inc., assets by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS
Corporate
Consolidated

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).


Net additions to property and equipment

Amazon.com Inc., net additions to property and equipment by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS
Corporate
Consolidated

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).


Depreciation and amortization expense on property and equipment

Amazon.com Inc., depreciation and amortization expense on property and equipment by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
North America
International
AWS
Consolidated

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).