Amazon.com (AMZN) FY2019 results: revenue $280.5 billion, up 20.5% on the year
Amazon.com Inc. (AMZN) reported revenue of $280.5 billion for fiscal 2019, the year ended 31 December 2019, up 20.5% on the year before. Net income was $11.6 billion, up 15.0%, and diluted earnings per share $1.15. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2020.
Revenue
$280.5 billion
+20.5% on the year
FY2012FY2019
Operating margin
5.2%
5.3% a year earlier
FY2012FY2019
Net income
$11.6 billion
+15.0% on the year
FY2012FY2019
Diluted EPS
$1.15
+14.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
280,522
232,887
177,866
+20.5%
Cost of revenue
165,536
139,156
111,934
+19.0%
Gross profit
114,986
93,731
65,932
+22.7%
Gross margin
41.0%
40.2%
37.1%
Operating income
14,541
12,421
4,106
+17.1%
Operating margin
5.2%
5.3%
2.3%
Interest expense
1,600
1,417
848
+12.9%
Pre-tax income
13,976
11,261
3,806
+24.1%
Income tax
2,374
1,197
769
+98.3%
Effective tax rate
17.0%
10.6%
20.2%
Net income
11,588
10,073
3,033
+15.0%
Net margin
4.1%
4.3%
1.7%
Diluted EPS
$1.15
$1.01
$0.31
+14.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
38,514
30,723
18,365
+25.4%
Capital expenditure
16,861
13,427
11,955
+25.6%
Free cash flow
21,653
17,296
6,410
+25.2%
Free cash flow margin
7.7%
7.4%
3.6%
Cash from investing
-24,281
-12,369
-27,084
Cash from financing
-10,066
-7,686
9,928
Depreciation and amortisation
21,789
15,341
11,478
+42.0%
Share-based compensation
6,864
5,418
4,215
+26.7%
Diluted shares, weighted
10,080m
10,000m
9,860m
+0.8%
Shares outstanding at period end
9,960m
9,820m
9,680m
+1.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
62,060
43,549
27,709
+42.5%
Debt
24,820
24,965
24,942
-0.6%
Operating lease liabilities
22,696
n/a
n/a
Finance lease liabilities
17,095
n/a
n/a
Other liabilities
98,577
94,134
78,659
+4.7%
Total liabilities and equity
225,248
162,648
131,310
+38.5%
Fixed assets
72,705
61,797
48,866
+17.7%
Goodwill
14,754
14,548
13,350
+1.4%
Intangible assets
4,049
4,110
3,371
-1.5%
Investments
18,929
9,500
10,464
+99.3%
Cash and equivalents
36,092
31,750
20,522
+13.7%
Receivables
20,816
16,677
13,164
+24.8%
Inventory
20,497
17,174
16,047
+19.3%
Other assets
37,406
7,092
5,526
+427.4%
Total assets
225,248
162,648
131,310
+38.5%
10-K for the year ended 31 December 2019, filed 31 January 2020: the filing.