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Side-by-side financial comparison of Amazon (AMZN) and Netflix (NFLX). Click either name above to swap in a different company.
Amazon is the larger business by last-quarter revenue ($213.4B vs $12.2B, roughly 17.4× Netflix). Netflix runs the higher net margin — 43.1% vs 9.9%, a 33.2% gap on every dollar of revenue. On growth, Netflix posted the faster year-over-year revenue change (16.2% vs 13.6%). Amazon produced more free cash flow last quarter ($14.9B vs $5.1B). Over the past eight quarters, Amazon's revenue compounded faster (22.0% CAGR vs 13.2%).
Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). Its products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers The company also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire ...
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres. It is available internationally in multiple languages.
AMZN vs NFLX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $213.4B | $12.2B |
| Net Profit | $21.2B | $5.3B |
| Gross Margin | 48.5% | 51.9% |
| Operating Margin | 11.7% | 32.3% |
| Net Margin | 9.9% | 43.1% |
| Revenue YoY | 13.6% | 16.2% |
| Net Profit YoY | 5.9% | 82.8% |
| EPS (diluted) | $1.95 | $1.23 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $12.2B | ||
| Q4 25 | $213.4B | $12.1B | ||
| Q3 25 | $180.2B | $11.5B | ||
| Q2 25 | $167.7B | $11.1B | ||
| Q1 25 | $155.7B | $10.5B | ||
| Q4 24 | $187.8B | $10.2B | ||
| Q3 24 | $158.9B | $9.8B | ||
| Q2 24 | $148.0B | $9.6B |
| Q1 26 | — | $5.3B | ||
| Q4 25 | $21.2B | $2.4B | ||
| Q3 25 | $21.2B | $2.5B | ||
| Q2 25 | $18.2B | $3.1B | ||
| Q1 25 | $17.1B | $2.9B | ||
| Q4 24 | $20.0B | $1.9B | ||
| Q3 24 | $15.3B | $2.4B | ||
| Q2 24 | $13.5B | $2.1B |
| Q1 26 | — | 51.9% | ||
| Q4 25 | 48.5% | 45.9% | ||
| Q3 25 | 50.8% | 46.4% | ||
| Q2 25 | 51.8% | 51.9% | ||
| Q1 25 | 50.6% | 50.1% | ||
| Q4 24 | 47.3% | 43.7% | ||
| Q3 24 | 49.0% | 47.9% | ||
| Q2 24 | 50.1% | 45.9% |
| Q1 26 | — | 32.3% | ||
| Q4 25 | 11.7% | 24.5% | ||
| Q3 25 | 9.7% | 28.2% | ||
| Q2 25 | 11.4% | 34.1% | ||
| Q1 25 | 11.8% | 31.7% | ||
| Q4 24 | 11.3% | 22.2% | ||
| Q3 24 | 11.0% | 29.6% | ||
| Q2 24 | 9.9% | 27.2% |
| Q1 26 | — | 43.1% | ||
| Q4 25 | 9.9% | 20.1% | ||
| Q3 25 | 11.8% | 22.1% | ||
| Q2 25 | 10.8% | 28.2% | ||
| Q1 25 | 11.0% | 27.4% | ||
| Q4 24 | 10.7% | 18.2% | ||
| Q3 24 | 9.6% | 24.1% | ||
| Q2 24 | 9.1% | 22.5% |
| Q1 26 | — | $1.23 | ||
| Q4 25 | $1.95 | $-17.14 | ||
| Q3 25 | $1.95 | $5.87 | ||
| Q2 25 | $1.68 | $7.19 | ||
| Q1 25 | $1.59 | $0.66 | ||
| Q4 24 | $1.86 | $4.27 | ||
| Q3 24 | $1.43 | $5.40 | ||
| Q2 24 | $1.26 | $4.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $123.0B | $12.3B |
| Total DebtLower is stronger | $68.8B | $13.4B |
| Stockholders' EquityBook value | $411.1B | $31.1B |
| Total Assets | $818.0B | $61.0B |
| Debt / EquityLower = less leverage | 0.17× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.3B | ||
| Q4 25 | $123.0B | $9.1B | ||
| Q3 25 | $94.2B | $9.3B | ||
| Q2 25 | $93.2B | $8.4B | ||
| Q1 25 | $94.6B | $8.4B | ||
| Q4 24 | $101.2B | $9.6B | ||
| Q3 24 | $88.1B | $9.2B | ||
| Q2 24 | $89.1B | $6.7B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $68.8B | $13.5B | ||
| Q3 25 | $55.1B | $14.5B | ||
| Q2 25 | $56.1B | $14.5B | ||
| Q1 25 | $58.8B | $14.0B | ||
| Q4 24 | $58.0B | $13.8B | ||
| Q3 24 | $60.5B | $14.2B | ||
| Q2 24 | $62.7B | $12.2B |
| Q1 26 | — | $31.1B | ||
| Q4 25 | $411.1B | $26.6B | ||
| Q3 25 | $369.6B | $26.0B | ||
| Q2 25 | $333.8B | $25.0B | ||
| Q1 25 | $305.9B | $24.0B | ||
| Q4 24 | $286.0B | $24.7B | ||
| Q3 24 | $259.2B | $22.7B | ||
| Q2 24 | $236.4B | $22.1B |
| Q1 26 | — | $61.0B | ||
| Q4 25 | $818.0B | $55.6B | ||
| Q3 25 | $727.9B | $54.9B | ||
| Q2 25 | $682.2B | $53.1B | ||
| Q1 25 | $643.3B | $52.1B | ||
| Q4 24 | $624.9B | $53.6B | ||
| Q3 24 | $584.6B | $52.3B | ||
| Q2 24 | $554.8B | $49.1B |
| Q1 26 | — | 0.43× | ||
| Q4 25 | 0.17× | 0.51× | ||
| Q3 25 | 0.15× | 0.56× | ||
| Q2 25 | 0.17× | 0.58× | ||
| Q1 25 | 0.19× | 0.58× | ||
| Q4 24 | 0.20× | 0.56× | ||
| Q3 24 | 0.23× | 0.62× | ||
| Q2 24 | 0.27× | 0.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $54.5B | $5.3B |
| Free Cash FlowOCF − Capex | $14.9B | $5.1B |
| FCF MarginFCF / Revenue | 7.0% | 41.6% |
| Capex IntensityCapex / Revenue | 18.5% | 1.6% |
| Cash ConversionOCF / Net Profit | 2.57× | 1.00× |
| TTM Free Cash FlowTrailing 4 quarters | $7.7B | $11.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.3B | ||
| Q4 25 | $54.5B | $2.1B | ||
| Q3 25 | $35.5B | $2.8B | ||
| Q2 25 | $32.5B | $2.4B | ||
| Q1 25 | $17.0B | $2.8B | ||
| Q4 24 | $45.6B | $1.5B | ||
| Q3 24 | $26.0B | $2.3B | ||
| Q2 24 | $25.3B | $1.3B |
| Q1 26 | — | $5.1B | ||
| Q4 25 | $14.9B | $1.9B | ||
| Q3 25 | $430.0M | $2.7B | ||
| Q2 25 | $332.0M | $2.3B | ||
| Q1 25 | $-8.0B | $2.7B | ||
| Q4 24 | $17.8B | $1.4B | ||
| Q3 24 | $3.4B | $2.2B | ||
| Q2 24 | $7.7B | $1.2B |
| Q1 26 | — | 41.6% | ||
| Q4 25 | 7.0% | 15.5% | ||
| Q3 25 | 0.2% | 23.1% | ||
| Q2 25 | 0.2% | 20.5% | ||
| Q1 25 | -5.1% | 25.2% | ||
| Q4 24 | 9.5% | 13.5% | ||
| Q3 24 | 2.1% | 22.3% | ||
| Q2 24 | 5.2% | 12.7% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | 18.5% | 2.0% | ||
| Q3 25 | 19.5% | 1.4% | ||
| Q2 25 | 19.2% | 1.4% | ||
| Q1 25 | 16.1% | 1.2% | ||
| Q4 24 | 14.8% | 1.5% | ||
| Q3 24 | 14.2% | 1.3% | ||
| Q2 24 | 11.9% | 0.8% |
| Q1 26 | — | 1.00× | ||
| Q4 25 | 2.57× | 0.87× | ||
| Q3 25 | 1.68× | 1.11× | ||
| Q2 25 | 1.79× | 0.78× | ||
| Q1 25 | 0.99× | 0.97× | ||
| Q4 24 | 2.28× | 0.82× | ||
| Q3 24 | 1.69× | 0.98× | ||
| Q2 24 | 1.87× | 0.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMZN
| Products | $90.0B | 42% |
| Third Party Seller Services | $52.8B | 25% |
| Other | $49.9B | 23% |
| Subscription Services | $13.1B | 6% |
| Physical Stores | $5.9B | 3% |
| Other Services | $1.7B | 1% |
NFLX
Segment breakdown not available.
