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Fairly valued
Morningstar Quantitative Rating as of 11 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 231.55 Fair value 268.97 One-star price 312.43
Morningstar Quantitative Rating as of 11 NOV 2026.
Morningstar Quantitative Rating as of 11 NOV 2026. The slider runs from the five-star price (231.55) to the one-star price (312.43).
| Ratios |
|---|
| Currency (Price/reporting): USD/USD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 270.87 |
| Price - 12 month high | 287.16 |
| Price - 12 month low | 196.13 |
| Pricing date | 10 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 62.88 |
| Market capitalization | 2,878,133.02 |
| 12 Month High price date | 3 AUG 2026 |
| 12 Month Low price date | 17 FEB 2026 |
| Volume - avg. trading volume for the last 3 months | 38.92 |
| Price - 1 Day % Change | 1.48% |
| Price - 13 week price percent change | -2.60% |
| Price - 26 week price percent change | -0.66% |
| Price - 5 Day % Change | 8.05% |
| Price - 52 week price percent change | 9.05% |
| Price - YTD price percent change | 16.49% |
| Price % Change Month To Date | 3.22% |
| EPS excluding extraordinary items - most recent fiscal year | 7.170 |
| EPS excluding extraordinary items - trailing 12 month | 12.370 |
| EPS Normalized - most recent fiscal year | 7.479 |
| Revenue/share - most recent fiscal year | 66.216 |
| Revenue/share - trailing 12 month | 73.208 |
| Book value per share - most recent fiscal year | 38.306 |
| Book value per share - most recent quarter | 56.757 |
| Book value (tangible) per share - most recent fiscal year | 35.280 |
| Book value (tangible) per share - most recent quarter | 54.561 |
| Cash per share - most recent fiscal year | 8.090 |
| Cash per share - most recent quarter | 5.160 |
| Cash Flow per share - most recent fiscal year | 14.730 |
| Cash Flow per share - trailing 12 month | 18.483 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 23.249 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 7.290 |
| EPS Basic excluding extraordinary items - trailing 12 month | 12.530 |
| EPS including extraordinary items - most recent fiscal year | 7.290 |
| EPS including extraordinary items - trailing 12 month | 12.530 |
| Free Cash Flow per share - trailing 12 month | -1.272 |
| P/E excluding extraordinary items, most recent fiscal year | 21.52 |
| P/E Normalized, most recent fiscal year | 30.06 |
| Price to sales - most recent fiscal year | 3.64 |
| Price to Tangible Book - most fiscal year | 4.88 |
| Price to Free Cash Flow per Share - most recent fiscal year | — |
| Price to Cash Flow per share - trailing 12 month | 14.40 |
| Price to Book - most recent fiscal year | 4.69 |
| P/E excluding extraordinary items high, trailing 12 months | 36.82 |
| P/E excluding extraordinary items low, trailing 12 months | 18.95 |
| Net Debt, LFI | 157,723.00 |
| Net Debt, LFY | 29,958.00 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
| Free Cash Flow - most recent fiscal year | 27,664.00 |
| LT debt/equity - most recent fiscal year | 37.22% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 37.22% |
| LT debt/equity - most recent quarter | 44.32% |
| Total debt/total equity - most recent quarter | 44.32% |
| Free Cash Flow - trailing 12 month | -13,855.00 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 716,924.00 |
| Revenue - trailing 12 month | 797,455.00 |
| EBITD - most recent fiscal year | 160,960.00 |
| EBITD - trailing 12 month | 253,255.00 |
| Earnings before taxes - most recent fiscal year | 97,311.00 |
| Earnings before taxes - trailing 12 month | 174,165.00 |
| Net Income available to common - most recent fiscal year | 77,670.00 |
| Net Income available to common - trailing 12 months | 134,779.00 |
| Earnings before taxes Normalized - most recent fiscal year | 101,477.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 8.86 |
| Net Profit Margin % - 1st historical fiscal year | 10.83% |
| Net Profit Margin % - trailing 12 month | 16.90% |
| Operating margin - 1st historical fiscal year | 11.16% |
| Operating margin - trailing 12 month | 13.09% |
| Pretax margin - trailing 12 month | 21.84% |
| Pretax margin - 1st historical fiscal year | 13.57% |
| Operating Margin - 5 year average | 7.20% |
| Pretax Margin - 5 year average | 7.57% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 3.84% |
| Free Operating Cash Flow/Revenue, TTM | -1.74% |
| Net Profit Margin - 5 year average | 6.40% |
| Return on average assets - most recent fiscal year | 11.11% |
| Return on average assets - trailing 12 month | 14.03% |
| Return on average equity - most recent fiscal year | 22.76% |
| Return on average equity - trailing 12 month | 28.22% |
| Return on average assets - 5 year average | 7.89% |
| Return on average equity - 5 year average | 18.85% |
| Net Income/employee - most recent fiscal year | 49,282.99 |
| Revenue/employee - most recent fiscal year | 454,901.02 |
| Revenue growth rate, 5 year | 13.18% |
| EPS growth rate, 5 year | 27.96% |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | 11.83% |
| Growth rate% - Revenue, 3 year | 11.73% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | 32.77% |
| Capital Spending growth rate, 5 year | 26.85% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 26.12% |
Financial forecast (USD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | 2029 | ||||
| Estimate breakdown | ||||||||
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
Announcements are available for ASX-listed companies only.
Amazon reported post close overnight and delivered a very strong second-quarter result, with AWS growth accelerating for a fifth consecutive quarter and easing concerns around returns on its enormous AI investment. Shares were up ~13% in afterhours trade.
Most people think of Amazon as a tech business which is no surprise, but it still sold ~$US158bn worth of goods last quarter, making up more than 70% of its revenue and affording it the title of the largest retailer in the US. However, while the retail arm is enormous in revenue terms, it’s only relatively modest when looking at the contribution to overall profit.
Amazon’s cloud unit posted the strongest growth rate in almost three years, reassuring investors who were concerned that the largest seller of rented computing power was losing ground to rivals.
e-commerce giant Amazon posted higher fiscal second-quarter profit and sales, helped by its four-day sales event in July and underscoring its resilience despite tariff uncertainty.
After providing a weaker-than-expected forecast for operating profit in the current quarter, Amazon struggled in early after-market trade, falling ~4%. The company cited tariffs and trade policies causing consumers to pull back on spending.
Earlier this month, Amazon reported weaker-than-expected revenue for the second quarter and issued a disappointing forecast for the current period; the stock fell accordingly. Amazon’s cloud business exceeded analyst estimates, but its advertising unit came up short. The traditional earnings numbers looked good, but under the hood, it was a touch light
The markets embraced AMZN’s earnings beat in late April: Advertising revenue grew 24% in the first quarter, outpacing retail and cloud computing, plus Amazon Web Services also reported results that topped estimates. Earnings per share came in at 98 cents vs. 83 cents expected by LSEG (the data vendor used on the MM website).
Last week saw AMZN report better-than-expected 3rd quarter earnings, with revenue increasing +13%, illustrating the resilience of the US consumer. Understandably, the company was cautious with its 4th quarter forecast – for the 3rd quarter, EPS came in at 94c v 58c expected by LSEG while revenue of $US143.1bn beat estimates of $US141.4bn.
It was interesting overnight to see Amazon rally +1.7% after the online retailer announced it plans to invest up to $4 billion into artificial intelligence firm Anthropic, it appears the AI boom has much further to play out.
MM remains bullish AMZN US ~$US235
MM is bullish towards AMZN around $US250
MM is bullish towards AMZN as it trades ~$US220
MM is cautiously bullish on AMZN
MM is cautiously bullish towards AMZN
MM is cautiously bullish on AMZN
MM is cautiously bullish toward AMZN into further weakness
MM is cautiously bullish towards AMZN
MM is cautiously bullish on AMZN into Christmas
MM is cautiously bullish toward AMZN
Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%). International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.
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