Stock Analysis on Net
Stock Analysis on Net

Amazon.com Inc. (NASDAQ:AMZN)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level

Short-term Activity Ratios (Summary)

Amazon.com Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Turnover Ratios
Inventory turnover 9.80 8.76 9.81 9.33 8.08 8.33 7.97 8.66 8.10 8.38 8.59 8.69 6.98 7.47 8.35 8.66 7.70
Payables turnover 3.22 3.57 3.77 4.39 3.51 4.37 4.11 4.47 3.64 4.30 4.61 4.78 3.23 3.93 4.48 4.86 3.49
Working capital turnover 60.82 31.47 18.92 47.22 32.92 38.37 35.44 42.11 34.71 48.44 56.56 69.39 76.87 107.01 308.26 69.18 69.20
Average No. Days
Average inventory processing period 37 42 37 39 45 44 46 42 45 44 42 42 52 49 44 42 47
Less: Average payables payment period 113 102 97 83 104 84 89 82 100 85 79 76 113 93 81 75 105

Based on: 10-K (filing date: 2021-02-03), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-01), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Amazon.com Inc.’s inventory turnover ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 not reaching Q2 2020 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Amazon.com Inc.’s payables turnover ratio decreased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Amazon.com Inc.’s working capital turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Amazon.com Inc.’s number of days of payables outstanding increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Inventory Turnover

Amazon.com Inc., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Cost of sales 79,284  57,106  52,660  44,257  53,977  41,302  36,337  33,920  44,786  33,003  30,632  30,735  38,494  27,549  23,451  22,440  28,959  21,260  19,180  18,866 
Inventories 23,795  23,735  19,599  18,857  20,497  18,766  18,580  16,432  17,174  15,862  14,824  13,840  16,047  13,711  11,510  10,600  11,461  10,696  9,588  9,582 
Short-term Activity Ratio
Inventory turnover1 9.80 8.76 9.81 9.33 8.08 8.33 7.97 8.66 8.10 8.38 8.59 8.69 6.98 7.47 8.35 8.66 7.70
Benchmarks
Inventory Turnover, Competitors2
Costco Wholesale Corp. 11.84 12.70 11.63 9.73 11.66 11.52 11.28 10.34 11.16 11.40 11.06 10.27 11.38 10.97 11.02 9.66 11.47 11.46 11.44 9.76
Dollar General Corp. 4.12 4.22 4.20 4.43 4.35 4.37 4.37 4.62 4.50 4.50 4.56 4.69 4.67 4.21 4.43 4.65 4.57 4.46 4.49 4.71
Home Depot Inc. 5.00 4.65 4.91 4.65 5.10 4.70 4.88 4.65 5.22 4.87 4.98 4.63 4.96 4.64 4.92 4.50 4.93 4.55 4.72 4.48
Lowe’s Cos. Inc. 3.73 3.57 3.58 3.26 3.85 3.88 3.95 3.47 3.97 3.65 3.91 3.57 4.07 3.72 3.76 3.55 4.07 3.65 3.88 3.50
Target Corp. 6.10 4.80 5.95 5.95 5.61 4.30 5.75 5.97 5.91 4.66 5.95 6.11 5.88 4.91 5.83 6.06 6.05 5.01 6.25 5.97
TJX Cos. Inc. 6.13 4.64 5.64 5.59 6.08 4.99 5.96 5.98 6.09 5.17 6.24 6.35 6.47 5.28 5.90 5.76 5.96 4.86 5.68 5.95
Walmart Inc. 8.88 7.60 8.81 8.64 8.70 7.60 9.09 8.72 8.53 7.35 8.39 8.36 8.39 7.24 8.30 8.11 8.12 7.16 8.11 7.88

Based on: 10-K (filing date: 2021-02-03), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-01), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29).

1 Q4 2020 Calculation
Inventory turnover = (Cost of salesQ4 2020 + Cost of salesQ3 2020 + Cost of salesQ2 2020 + Cost of salesQ1 2020) ÷ Inventories
= (79,284 + 57,106 + 52,660 + 44,257) ÷ 23,795 = 9.80

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Amazon.com Inc.’s inventory turnover ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 not reaching Q2 2020 level.

Payables Turnover

Amazon.com Inc., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Cost of sales 79,284  57,106  52,660  44,257  53,977  41,302  36,337  33,920  44,786  33,003  30,632  30,735  38,494  27,549  23,451  22,440  28,959  21,260  19,180  18,866 
Accounts payable 72,539  58,334  51,036  40,056  47,183  35,794  36,063  31,809  38,192  30,904  27,657  25,172  34,616  26,075  21,439  18,891  25,309  18,801  16,123  14,990 
Short-term Activity Ratio
Payables turnover1 3.22 3.57 3.77 4.39 3.51 4.37 4.11 4.47 3.64 4.30 4.61 4.78 3.23 3.93 4.48 4.86 3.49
Benchmarks
Payables Turnover, Competitors2
Costco Wholesale Corp. 10.23 12.93 12.45 9.31 11.38 11.49 11.96 9.61 10.96 11.32 11.73 9.61 11.64 11.34 11.98 9.41 13.52 11.59 12.39 9.76
Dollar General Corp. 6.73 6.67 6.80 7.42 7.47 7.45 7.42 8.22 8.09 8.19 8.40 9.53 9.76 7.55 8.43 9.88 9.41 9.41 8.85 9.31
Home Depot Inc. 9.33 7.91 7.62 6.99 9.16 7.66 7.29 6.90 9.19 7.63 7.51 6.90 8.90 7.63 7.32 6.83 8.87 7.86 7.46 6.83
Lowe’s Cos. Inc. 6.42 5.54 5.18 4.26 5.85 5.16 5.22 4.53 6.86 5.09 5.15 4.41 6.40 5.21 5.18 4.45 6.84 5.18 5.28 4.63
Target Corp. 5.53 4.86 5.93 6.45 5.46 4.45 5.75 6.35 5.89 4.94 6.48 7.47 6.74 5.98 7.39 8.02 7.01 5.84 7.44 7.57
TJX Cos. Inc. 11.17 8.45 11.00 10.97 10.53 8.28 9.99 10.42 10.25 8.18 10.28 10.91 10.56 8.62 10.11 10.52 10.00 8.01 9.43 9.76
Walmart Inc. 8.40 7.87 8.48 8.57 8.19 7.70 8.84 8.46 8.10 7.74 8.60 8.76 8.72 8.39 9.03 9.50 9.38 8.95 9.80 9.80

Based on: 10-K (filing date: 2021-02-03), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-01), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29).

1 Q4 2020 Calculation
Payables turnover = (Cost of salesQ4 2020 + Cost of salesQ3 2020 + Cost of salesQ2 2020 + Cost of salesQ1 2020) ÷ Accounts payable
= (79,284 + 57,106 + 52,660 + 44,257) ÷ 72,539 = 3.22

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Amazon.com Inc.’s payables turnover ratio decreased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Working Capital Turnover

Amazon.com Inc., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Current assets 132,733  112,969  110,908  85,985  96,334  79,054  76,790  69,431  75,101  59,885  54,481  50,829  60,197  48,578  41,007  39,460  45,781  35,609  32,220  30,513 
Less: Current liabilities 126,385  101,912  93,896  79,711  87,812  72,136  69,678  63,695  68,391  55,324  50,801  48,045  57,883  47,072  40,520  37,399  43,816  33,498  29,587  28,187 
Working capital 6,348  11,057  17,012  6,274  8,522  6,918  7,112  5,736  6,710  4,561  3,680  2,784  2,314  1,506  487  2,061  1,965  2,111  2,633  2,326 
 
Net sales 125,555  96,145  88,912  75,452  87,437  69,981  63,404  59,700  72,383  56,576  52,886  51,042  60,453  43,744  37,955  35,714  43,741  32,714  30,404  29,128 
Short-term Activity Ratio
Working capital turnover1 60.82 31.47 18.92 47.22 32.92 38.37 35.44 42.11 34.71 48.44 56.56 69.39 76.87 107.01 308.26 69.18 69.20
Benchmarks
Working Capital Turnover, Competitors2
Costco Wholesale Corp. 49.82 63.59 153.67 400.20 602.22 294.44 381.36 483.61 1,194.83 201.79
Dollar General Corp. 43.75 48.44 43.95 41.68 15.56 15.23 15.35 14.61 18.29 19.21 19.41 21.13 20.84 21.08 21.25 14.13 14.18 13.37 15.49 16.47
Home Depot Inc. 76.81 68.95 57.87 124.59 59.68 65.46 43.91 33.09 36.84 26.96 20.77 27.68 26.34 18.99 20.84 23.41 19.82 32.97 27.27 85.23
Lowe’s Cos. Inc. 530.50 119.81 74.71 46.13 1,031.26 78.17 266.87 101.51 254.28 166.37 112.95 2,500.65 657.58 363.64 25.59 856.14 250.55
Target Corp. 352.16 143.21 37.77 48.93 54.91 42.15 28.66
TJX Cos. Inc. 23.97 24.08 23.99 26.62 13.27 11.75 11.43 10.67 10.67 11.76 11.64 11.36 11.09 10.72 12.87 12.25 13.06 11.57 11.34 10.77
Walmart Inc.

Based on: 10-K (filing date: 2021-02-03), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-01), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29).

1 Q4 2020 Calculation
Working capital turnover = (Net salesQ4 2020 + Net salesQ3 2020 + Net salesQ2 2020 + Net salesQ1 2020) ÷ Working capital
= (125,555 + 96,145 + 88,912 + 75,452) ÷ 6,348 = 60.82

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Amazon.com Inc.’s working capital turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Average Inventory Processing Period

Amazon.com Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Inventory turnover 9.80 8.76 9.81 9.33 8.08 8.33 7.97 8.66 8.10 8.38 8.59 8.69 6.98 7.47 8.35 8.66 7.70
Short-term Activity Ratio (no. days)
Average inventory processing period1 37 42 37 39 45 44 46 42 45 44 42 42 52 49 44 42 47
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Costco Wholesale Corp. 31 29 31 37 31 32 32 35 33 32 33 36 32 33 33 38 32 32 32 37
Dollar General Corp. 89 87 87 82 84 83 84 79 81 81 80 78 78 87 82 78 80 82 81 78
Home Depot Inc. 73 78 74 78 72 78 75 78 70 75 73 79 74 79 74 81 74 80 77 81
Lowe’s Cos. Inc. 98 102 102 112 95 94 92 105 92 100 93 102 90 98 97 103 90 100 94 104
Target Corp. 60 76 61 61 65 85 63 61 62 78 61 60 62 74 63 60 60 73 58 61
TJX Cos. Inc. 60 79 65 65 60 73 61 61 60 71 58 57 56 69 62 63 61 75 64 61
Walmart Inc. 41 48 41 42 42 48 40 42 43 50 44 44 43 50 44 45 45 51 45 46

Based on: 10-K (filing date: 2021-02-03), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-01), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29).

1 Q4 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 9.80 = 37

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Payables Payment Period

Amazon.com Inc., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data
Payables turnover 3.22 3.57 3.77 4.39 3.51 4.37 4.11 4.47 3.64 4.30 4.61 4.78 3.23 3.93 4.48 4.86 3.49
Short-term Activity Ratio (no. days)
Average payables payment period1 113 102 97 83 104 84 89 82 100 85 79 76 113 93 81 75 105
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Costco Wholesale Corp. 36 28 29 39 32 32 31 38 33 32 31 38 31 32 30 39 27 31 29 37
Dollar General Corp. 54 55 54 49 49 49 49 44 45 45 43 38 37 48 43 37 39 39 41 39
Home Depot Inc. 39 46 48 52 40 48 50 53 40 48 49 53 41 48 50 53 41 46 49 53
Lowe’s Cos. Inc. 57 66 70 86 62 71 70 81 53 72 71 83 57 70 70 82 53 70 69 79
Target Corp. 66 75 62 57 67 82 63 57 62 74 56 49 54 61 49 45 52 63 49 48
TJX Cos. Inc. 33 43 33 33 35 44 37 35 36 45 35 33 35 42 36 35 36 46 39 37
Walmart Inc. 43 46 43 43 45 47 41 43 45 47 42 42 42 44 40 38 39 41 37 37

Based on: 10-K (filing date: 2021-02-03), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-01), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29).

1 Q4 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.22 = 113

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Amazon.com Inc.’s number of days of payables outstanding increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.