AMZN
Amazon.com, Inc.
AMZN has the edge over ASO overall, supported by stronger valuation and stronger modeled upside.
ASO
Academy Sports and Outdoors, Inc.
ASO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
AMZN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Healthy |
AMZN's revenue, profitability and balance sheet are currently healthy, but its cash flow is weak.
ASO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
ASO's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
AMZN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 22x | $267 | — |
| Forward | 27x | $267 | — |
| Cheap | 34x | $415 | +55% |
| Fair | 60x | $745 | +179% |
| Expensive | 102x | $1,262 | +372% |
Historical ranges are pointers, not guarantees.
AMZN has the edge over ASO in the historical PE scenario, which offers more potential upside but is not a forecast.
ASO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.5x | $39.11 | -42% |
| Fair | 8.2x | $48.95 | -27% |
| Expensive | 9.6x | $57.29 | -15% |
| Forward | 9.7x | $67.29 | — |
| Current | 11x | $67.29 | — |
Historical ranges are pointers, not guarantees.
ASO's PE is in its expensive range at 11x. If earnings grow as analysts expect, today's price would be 9.7x next year's earnings.
AMZN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AMZN, with profitability improving.
ASO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect ASO's earnings to grow, with its revenue and profitability holding steady.
AMZN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.87 | -20% |
| Q3 2026 | $12.37 | +75% |
| Q2 2026 | $12.43 | +89% |
| Q1 2026 | $8.36 | +36% |
| Q4 2025 | $7.17 | +30% |
| Q3 2025 | $7.08 | +52% |
| Q2 2025 | $6.56 | +57% |
| Q1 2025 | $6.14 | +72% |
| Q4 2024 | $5.53 | +91% |
AMZN has the edge over ASO on earnings, with more consistent year-over-year improvement.
ASO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.94 | +16% |
| Q3 2026 | $5.98 | +12% |
| Q2 2026 | $5.66 | +4% |
| Q1 2026 | $5.54 | -4% |
| Q4 2025 | $5.47 | -10% |
| Q3 2025 | $5.34 | -18% |
| Q2 2025 | $5.44 | -17% |
| Q1 2025 | $5.77 | -14% |
| Q4 2024 | $6.09 | -6% |
ASO earned $5.98 per share over the past year, up 12% from the year before.
AMZN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $201.9B | +12% |
| Q2 2026 | $200.6B | +20% |
| Q1 2026 | $181.5B | +17% |
| Q4 2025 | $213.4B | +14% |
| Q3 2025 | $180.2B | +13% |
| Q2 2025 | $167.7B | +13% |
| Q1 2025 | $155.7B | +8.6% |
| Q4 2024 | $187.8B | +10% |
AMZN has the edge over ASO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +4.2 points |
| Q2 2026 | 14% | +2.3 points |
| Q1 2026 | 13% | +1.3 points |
| Q4 2025 | 12% | +0.4 points |
| Q3 2025 | 9.7% | -1.3 points |
| Q2 2025 | 11% | +1.5 points |
| Q1 2025 | 12% | +1.1 points |
| Q4 2024 | 11% | +3.5 points |
AMZN's operating margin was 14% last quarter, up 4.2 points from the same quarter a year ago, near the top of its range since 2019.
ASO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +3% |
| Q2 2026 | $1.4B | +6.7% |
| Q1 2026 | $1.7B | +2.5% |
| Q4 2025 | $1.4B | +3% |
| Q3 2025 | $1.6B | +3.3% |
| Q2 2025 | $1.4B | -0.9% |
| Q1 2025 | $1.7B | -6.6% |
| Q4 2024 | $1.3B | -3.9% |
ASO's revenue grew through 2022 and has held roughly level since: $1.6B last quarter, up 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +4.2 points |
| Q2 2026 | 5.2% | 0 points |
| Q1 2026 | 9.9% | +0.7 points |
| Q4 2025 | 7.3% | +0.5 points |
| Q3 2025 | 11% | -1.5 points |
| Q2 2025 | 5.1% | -2.4 points |
| Q1 2025 | 9.2% | -2.1 points |
| Q4 2024 | 6.8% | -3 points |
ASO has the edge over AMZN on profitability, with a higher operating margin.
AMZN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$34.8B | -8202% |
| Q2 2026 | -$8.8B | -2757% |
| Q1 2026 | -$18.2B | -$10.2B |
| Q4 2025 | $14.9B | -16% |
| Q3 2025 | $430M | -87% |
| Q2 2025 | $332M | -96% |
| Q1 2025 | -$8B | -297% |
| Q4 2024 | $17.8B | -36% |
AMZN's free cash flow was −$46.9B over the past year, against $10.6B the year before.
ASO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $116.1M | +432% |
| Q2 2026 | $121.7M | +14% |
| Q1 2026 | $107.2M | +40% |
| Q4 2025 | -$13.6M | -139% |
| Q3 2025 | $21.8M | -56% |
| Q2 2025 | $106.6M | -36% |
| Q1 2025 | $76.4M | -57% |
| Q4 2024 | $34.4M | +126% |
ASO has the edge over AMZN on cash generation, producing positive trailing cash flow while its opponent burns cash.
AMZN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +26M shares |
| 1 year | +0.8% | +84M shares |
| 3 years | +3.5% | +371M shares |
| 5 years | +6.1% | +629M shares |
| Available history | +8.2% | +829M shares |
AMZN has 10.9B diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $3.3B |
ASO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.6% | -2.4M shares |
| 1 year | -6.1% | -4.1M shares |
| 3 years | -19% | -14.5M shares |
| 5 years | -34% | -32.3M shares |
| Available history | -19% | -15M shares |
ASO has the edge over AMZN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $82.1M |
| Q2 2026 | $98.4M |
| Q1 2026 | $99.9M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $99M |
| Q1 2025 | $91.1M |
| Q4 2024 | $53.4M |
ASO spent $280M buying back its own shares over the past year, up 15% from the year before.
AMZN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
AMZN's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
ASO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.3x | Very low |
ASO has the edge over AMZN on leverage, with a lower net debt burden relative to earnings.
AMZN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 50.0 | Neutral |
AMZN's weekly RSI is 57 (neutral) and its Stochastic is 50 (neutral).
ASO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.7 | Neutral |
| Stochastic | 88.0 | Overbought |
ASO's weekly RSI is 69 (neutral) and its Stochastic is 88 (overbought).
AMZN PE vs Consumer Cyclical Sector
| Metric | AMZN | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 18x | 20% above |
| PE % | 4 | 47 | 43 pts below |
AMZN is trading at 22x earnings, a 20% premium to the Consumer Cyclical sector's median of 18x, though its recent earnings include one-off gains.
ASO PE vs Consumer Cyclical Sector
| Metric | ASO | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 18x | 38% below |
| PE % | 99 | 48 | 51 pts above |
ASO has the edge over AMZN on valuation relative to its sector.
AMZN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $253.6 | 5.5% above |
| 20 week MA | $254.9 | 4.9% above |
| 50 week MA | $242.5 | 10% above |
| 100 week MA | $229.6 | 17% above |
| 200 week MA | $191.4 | 40% above |
AMZN is in an uptrend: it's above all five of its weekly moving averages, and 40% above its 200-week average.
ASO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $58.0 | 16% above |
| 20 week MA | $51.7 | 30% above |
| 50 week MA | $53.6 | 26% above |
| 100 week MA | $50.9 | 32% above |
| 200 week MA | $53.7 | 25% above |
ASO has climbed back above all five of its weekly moving averages, and it's now 25% above its 200-week average.
AMZN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.5 | $158.6 | +70% |
| 2021 | $158.6 | $171.1 | +7.8% |
| 2022 | $171.1 | $85.3 | -50% |
| 2023 | $85.3 | $151.9 | +78% |
| 2024 | $151.9 | $223.8 | +47% |
| 2025 | $223.8 | $232.5 | +3.9% |
| 2026 YTD | $232.5 | $267.4 | +15% |
AMZN has finished higher in five of the last six years, two of them by more than 50%. It's up 15% so far in 2026.
ASO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.0 | $20.1 | +55% |
| 2021 | $20.1 | $40.1 | +99% |
| 2022 | $40.1 | $51.4 | +28% |
| 2023 | $51.4 | $66.0 | +28% |
| 2024 | $66.0 | $60.1 | -9% |
| 2025 | $60.1 | $50.9 | -15% |
| 2026 YTD | $50.9 | $67.3 | +32% |
ASO has the edge over AMZN on returns for 2026, with the stronger performance.