Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
AMAZON.COM, INC.'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
+11.1%Compound growth, FY2021 to FY2025
Gross profit
+16.2%Compound growth, FY2021 to FY2025
Operating Income
+33.9%Compound growth, FY2021 to FY2025
Net income
+23.5%Compound growth, FY2021 to FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
AMAZON.COM, INC. headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for AMAZON.COM, INC., from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
AMAZON.COM, INC. expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for AMAZON.COM, INC..
Margins
How much of AMAZON.COM, INC.'s revenue survives through gross profit, operating income, and net income.
Gross margin
+825 bpsFY2025, versus FY2021
Operating Margin
+586 bpsFY2025, versus FY2021
Net income margin
+373 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
AMAZON.COM, INC. margins — FY2025
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of AMAZON.COM, INC.'s statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
AMAZON.COM, INC. year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the five-year period, revenue growth appears relatively steady and positive, with annual increases seen from 2021’s USD 469,822 million to 2025’s USD 716,924 million. This reflects a compound growth rate of roughly 11% per year, supporting Amazon's continued expansion in retail and cloud services. Gross profit has followed suit, rising from USD 197,478 million in 2021 to USD 360,510 million in 2025, indicating effective management of cost of goods sold despite scaling challenges. However, operating income trends show some volatility—with a dramatic decline from USD 24,879 million in 2021 to USD 12,248 million in 2022 (a drop surpassing 50%), suggesting significant operational pressures in that period, possibly linked to investments, increased competition, or market turbulence. Net income provides additional nuance; while 2021 recorded a healthy profit of USD 33,364 million, 2022 witnessed a swing into loss territory at -USD 2,722 million, marking a pivotal downturn of over 100% in profitability. Notably, in the subsequent years the company recovered robustly: 2023 saw net income rebound to USD 30,425 million, followed by gross improvements to USD 59,248 million in 2024 and USD 77,670 million in 2025, each representing impressive year-over-year gains exceeding 50% in some cases. Overall, Amazon’s financial health appears resilient, underpinned by strong topline growth and an ability to reverse operational setbacks. The rebound in operating and net income post-2022 indicates improved operational efficiencies and market repositioning, suggesting sustainable performance amid a competitive and dynamic industry landscape.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
