Apple
AAPL · Technology Hardware, Storage & Peripherals
$347.73
0.1%Amazon
AMZN · Broadline Retail
$248.00
1.0%The short version
- Amazon is the larger business, with $716.9B of revenue in fiscal 2025 against $416.2B for Apple, about 1.7 times as much.
- Amazon grew revenue faster (12.4%, against 6.4%).
- Apple kept more of each dollar of sales as operating profit (32.0% operating margin, against 11.2% operating margin).
- Apple turned more of its sales into free cash flow (23.7% FCF margin, against 1.1% FCF margin).
- Apple earned a higher return on the capital invested in it (102.9%, against 20.6%).
- Investors pay more for each dollar of Apple’s earnings: a P/E of 39.9x against 20.0x for Amazon.
| Latest fiscal year | AAPL · FY25 | AMZN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.12T | $2.70T |
| Revenue | $416.2B | $716.9B |
| Free cash flow | $98.8B | $7.7B |
| Net income | $112.0B | $77.7B |
| Growth | ||
| Revenue growth | 6.4% | 12.4% |
| 5-year growth | 8.7% | 13.2% |
| Share count change | −2.6% | 1.0% |
| Profitability | ||
| Gross margin | 46.9% | 50.3% |
| Operating margin | 32.0% | 11.2% |
| Net margin | 26.9% | 10.8% |
| FCF margin | 23.7% | 1.1% |
| Return on capital | 102.9% | 20.6% |
| Return on equity | 171.4% | 22.3% |
| Balance sheet | ||
| Net debt | $45.2B | −$41.5B |
| Net debt / EBITDA | 0.3x | −0.3x |
| Dividends and buybacks | $106.1B | $0.0M |
| Valuation & quality | ||
| P/E | 39.9x | 20.0x |
| Piotroski F-score | 8 | 6 |
FY16
AAPL $215.6B
AMZN $136.0B
FY17
AAPL $229.2B
AMZN $177.9B
FY18
AAPL $265.6B
AMZN $232.9B
FY19
AAPL $260.2B
AMZN $280.5B
FY20
AAPL $274.5B
AMZN $386.1B
FY21
AAPL $365.8B
AMZN $469.8B
FY22
AAPL $394.3B
AMZN $514.0B
FY23
AAPL $383.3B
AMZN $574.8B
FY24
AAPL $391.0B
AMZN $638.0B
FY25
AAPL $416.2B
AMZN $716.9B
AAPL
AMZN
FY16
AAPL 27.8%
AMZN 3.1%
FY17
AAPL 26.8%
AMZN 2.3%
FY18
AAPL 26.7%
AMZN 5.3%
FY19
AAPL 24.6%
AMZN 5.2%
FY20
AAPL 24.2%
AMZN 5.9%
FY21
AAPL 29.8%
AMZN 5.3%
FY22
AAPL 30.3%
AMZN 2.4%
FY23
AAPL 29.8%
AMZN 6.4%
FY24
AAPL 31.5%
AMZN 10.8%
FY25
AAPL 32.0%
AMZN 11.2%
AAPL
AMZN
FY16
AAPL $53.5B
AMZN $10.5B
FY17
AAPL $51.8B
AMZN $6.4B
FY18
AAPL $64.1B
AMZN $17.3B
FY19
AAPL $58.9B
AMZN $21.7B
FY20
AAPL $73.4B
AMZN $25.9B
FY21
AAPL $93.0B
AMZN −$14.7B
FY22
AAPL $111.4B
AMZN −$16.9B
FY23
AAPL $99.6B
AMZN $32.2B
FY24
AAPL $108.8B
AMZN $32.9B
FY25
AAPL $98.8B
AMZN $7.7B
AAPL
AMZN
FY16
AAPL 25.0%
AMZN —
FY17
AAPL 21.8%
AMZN 27.5%
FY18
AAPL 30.1%
AMZN 45.4%
FY19
AAPL 42.4%
AMZN 28.0%
FY20
AAPL 61.2%
AMZN 31.2%
FY21
AAPL 88.5%
AMZN 23.3%
FY22
AAPL 80.3%
AMZN 6.9%
FY23
AAPL 82.6%
AMZN 16.7%
FY24
AAPL 88.2%
AMZN 26.5%
FY25
AAPL 102.9%
AMZN 20.6%
AAPL
AMZN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.