Question 1

What is Amazon's P/E ratio?

Accepted Answer

Amazon (AMZN) P/E ratio is 29.3× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Amazon?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Amazon specifically, the relevant sector benchmark is the current sector median of 21.7×.

Question 5

Is Amazon's P/E ratio high or low?

Accepted Answer

Amazon's P/E ratio of 29.3× is below its own 5-year average of 65.1× and above the sector median of 21.7×. That places the current reading at the 3th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Amazon's historical P/E ratio range?

Accepted Answer

In the available daily series, Amazon (AMZN) P/E ratio has ranged from a low of 26.5× in 2005 to a high of 2847.6× in 2012. The 5-year average is 65.1× and the 5-year median is 50.8×.

Question 7

What was Amazon's P/E ratio in 2025?

Accepted Answer

Amazon (AMZN) P/E ratio at the end of 2025 was 31.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Amazon's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$2.47T	$77.7B	31.8×	-7.2×	Dec 31, 2025
2024	$2.32T	$59.2B	39.1×	-12.6×	Dec 31, 2024
2023	$1.57T	$30.4B	51.7×	—	Dec 31, 2023
2022	$858B	-$2.72B	—	—	Dec 31, 2022
2021	$1.69T	$33.4B	50.8×	-25.9×	Dec 31, 2021
2020	$1.64T	$21.3B	76.6×	-2.4×	Dec 31, 2020
2019	$917B	$11.6B	79.1×	+6.0×	Dec 31, 2019
2018	$736B	$10.1B	73.1×	-113.1×	Dec 31, 2018
2017	$565B	$3.03B	186.2×	+35.6×	Dec 31, 2017
2016	$357B	$2.37B	150.5×	-382.4×	Dec 31, 2016
2015	$318B	$596M	532.9×	—	Dec 31, 2015
2014	$144B	-$241M	—	—	Dec 31, 2014
2013	$183B	$274M	666.6×	—	Dec 31, 2013
2012	$114B	-$39M	—	—	Dec 31, 2012
2011	$78.7B	$632M	124.5×	+54.3×	Dec 31, 2011
2010	$81B	$1.15B	70.3×	+4.6×	Dec 31, 2010
2009	$59.2B	$902M	65.7×	+31.6×	Dec 31, 2009
2008	$22B	$644M	34.1×	-46.8×	Dec 31, 2008
2007	$38.5B	$476M	80.9×	-5.2×	Dec 31, 2007
2006	$16.3B	$189M	86.1×	+22.3×	Dec 31, 2006
2005	$19.6B	$307M	63.8×	+33.0×	Dec 31, 2005
2004	$18.1B	$588M	30.8×	-564.9×	Dec 31, 2004
2003	$21B	$35.3M	595.7×	—	Dec 31, 2003
2002	$7.25B	-$150M	—	—	Dec 31, 2002


Avery Dennison (AVY)	19.3×
Darden Restaurants (DRI)	19.1×
Williams-Sonoma (WSM)	19.1×
Expedia Group (EXPE)	18.9×
Domino's Pizza (DPZ)	17.7×
Etsy (ETSY)	16.9×
Ball (BALL)	16.8×
Royal Caribbean Cruises (RCL)	16.6×
GameStop (GME)	15.6×
D.R. Horton (DHI)	15.3×
Norwegian Cruise Line (NCLH)	15.0×
Hasbro (HAS)	15.0×
NVR (NVR)	14.8×
LKQ (LKQ)	14.5×
Mohawk Industries (MHK)	14.3×
Deckers Outdoor (DECK)	13.8×
Lennar (LEN)	13.5×
Weyco Group (WEYS)	12.8×
Carnival Corporation (CCL)	12.4×
KB Home (KBH)	11.7×
Best Buy Co. (BBY)	11.1×
PDD Holdings (PDD)	10.7×
Toll Brothers (TOL)	10.5×
Lululemon Athletica (LULU)	10.2×
Leggett & Platt (LEG)	6.1×

P/E Ratio for Amazon (AMZN) 2003-2026

P/E Ratio daily chart for Amazon (AMZN)

Historical P/E Ratio for Amazon (AMZN) from 2002 to 2025

About P/E Ratio at Amazon (AMZN)

Amazon P/E Ratio by Year

Amazon P/E Ratio 2025: 31.8×

Amazon P/E Ratio 2024: 39.1×

Amazon P/E Ratio 2023: 51.7×

Amazon P/E Ratio 2021: 50.8×

Amazon P/E Ratio 2020: 76.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Amazon (AMZN) Key Financials