Amazon
AMZN · Broadline Retail
$248.00
1.0%Alphabet
GOOGL · Interactive Media & Services
$320.21
1.2%The short version
- Amazon is the larger business, with $716.9B of revenue in fiscal 2025 against $402.8B for Alphabet, about 1.8 times as much.
- Alphabet grew revenue faster (15.1%, against 12.4%).
- Alphabet kept more of each dollar of sales as operating profit (32.0% operating margin, against 11.2% operating margin).
- Alphabet turned more of its sales into free cash flow (18.2% FCF margin, against 1.1% FCF margin).
- Alphabet earned a higher return on the capital invested in it (36.7%, against 20.6%).
- Investors pay more for each dollar of Amazon’s earnings: a P/E of 20.0x against 16.1x for Alphabet.
| Latest fiscal year | AMZN · FY25 | GOOGL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.70T | $3.94T |
| Revenue | $716.9B | $402.8B |
| Free cash flow | $7.7B | $73.3B |
| Net income | $77.7B | $132.2B |
| Growth | ||
| Revenue growth | 12.4% | 15.1% |
| 5-year growth | 13.2% | 17.2% |
| Share count change | 1.0% | −1.7% |
| Profitability | ||
| Gross margin | 50.3% | 59.7% |
| Operating margin | 11.2% | 32.0% |
| Net margin | 10.8% | 32.8% |
| FCF margin | 1.1% | 18.2% |
| Return on capital | 20.6% | 36.7% |
| Return on equity | 22.3% | 35.7% |
| Balance sheet | ||
| Net debt | −$41.5B | −$75.3B |
| Net debt / EBITDA | −0.3x | −0.5x |
| Dividends and buybacks | $0.0M | $55.8B |
| Valuation & quality | ||
| P/E | 20.0x | 16.1x |
| Piotroski F-score | 6 | 8 |
FY16
AMZN $136.0B
GOOGL $90.3B
FY17
AMZN $177.9B
GOOGL $110.9B
FY18
AMZN $232.9B
GOOGL $136.8B
FY19
AMZN $280.5B
GOOGL $161.9B
FY20
AMZN $386.1B
GOOGL $182.5B
FY21
AMZN $469.8B
GOOGL $257.6B
FY22
AMZN $514.0B
GOOGL $282.8B
FY23
AMZN $574.8B
GOOGL $307.4B
FY24
AMZN $638.0B
GOOGL $350.0B
FY25
AMZN $716.9B
GOOGL $402.8B
AMZN
GOOGL
FY16
AMZN 3.1%
GOOGL 26.3%
FY17
AMZN 2.3%
GOOGL 23.6%
FY18
AMZN 5.3%
GOOGL 20.1%
FY19
AMZN 5.2%
GOOGL 21.2%
FY20
AMZN 5.9%
GOOGL 22.6%
FY21
AMZN 5.3%
GOOGL 30.6%
FY22
AMZN 2.4%
GOOGL 26.5%
FY23
AMZN 6.4%
GOOGL 27.4%
FY24
AMZN 10.8%
GOOGL 32.1%
FY25
AMZN 11.2%
GOOGL 32.0%
AMZN
GOOGL
FY16
AMZN $10.5B
GOOGL $25.8B
FY17
AMZN $6.4B
GOOGL $23.9B
FY18
AMZN $17.3B
GOOGL $22.8B
FY19
AMZN $21.7B
GOOGL $31.0B
FY20
AMZN $25.9B
GOOGL $42.8B
FY21
AMZN −$14.7B
GOOGL $67.0B
FY22
AMZN −$16.9B
GOOGL $60.0B
FY23
AMZN $32.2B
GOOGL $69.5B
FY24
AMZN $32.9B
GOOGL $72.8B
FY25
AMZN $7.7B
GOOGL $73.3B
AMZN
GOOGL
FY16
AMZN —
GOOGL 35.0%
FY17
AMZN 27.5%
GOOGL 23.5%
FY18
AMZN 45.4%
GOOGL 38.1%
FY19
AMZN 28.0%
GOOGL 37.2%
FY20
AMZN 31.2%
GOOGL 36.4%
FY21
AMZN 23.3%
GOOGL 56.9%
FY22
AMZN 6.9%
GOOGL 43.5%
FY23
AMZN 16.7%
GOOGL 41.8%
FY24
AMZN 26.5%
GOOGL 43.4%
FY25
AMZN 20.6%
GOOGL 36.7%
AMZN
GOOGL
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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.