AMZN
Amazon.com, Inc.
AMZN has the edge over HSAI overall, supported by lower modeled downside and stronger valuation.
HSAI
Hesai Group
HSAI 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.
HSAI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Stable | |
| Healthy |
HSAI's revenue and balance sheet are currently healthy, and its profitability and cash flow are 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's PE is in its cheap range at 22x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 27x.
HSAI PE Valuation
HSAI has no meaningful PE right now: it lost money over the past year.
AMZN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AMZN, with profitability improving.
HSAI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for HSAI, with profitability improving. However, they disagree widely on these estimates.
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's earnings per share have climbed steadily: $12.37 over the past year, up 75% from the year before, and higher year over year for 14 quarters in a row. Its recent earnings include one-off gains.
HSAI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.48 | +336% |
| Q1 2026 | $0.47 | +$0.49 |
| Q4 2025 | $0.43 | +$0.56 |
| Q3 2025 | $0.46 | +$0.92 |
| Q2 2025 | $0.11 | +$0.66 |
| Q1 2025 | -$0.02 | +$0.53 |
| Q4 2024 | -$0.13 | +$0.44 |
| Q3 2024 | -$0.46 | +$0.11 |
HSAI's earnings per share have climbed steadily: $0.48 over the past year, about four times what it earned the year before, and higher year over year for eight quarters in a row. Its recent earnings include one-off gains.
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's revenue has grown year over year every quarter since late 2020: $202B last quarter, up 12% from the same quarter a year ago.
| 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 has the edge over HSAI on profitability, with a higher operating margin.
HSAI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $129.2M | +22% |
| Q1 2026 | $102.1M | +30% |
| Q4 2025 | $150.1M | +39% |
| Q3 2025 | $119.4M | +47% |
| Q2 2025 | $106M | +54% |
| Q1 2025 | $78.8M | +46% |
| Q4 2024 | $108M | +28% |
| Q3 2024 | $81M | +21% |
HSAI has the edge over AMZN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 0.3% | -3 points |
| Q1 2026 | -1.3% | +5.1 points |
| Q4 2025 | 5.7% | -9.1 points |
| Q3 2025 | 9.7% | +24 points |
| Q2 2025 | 3.2% | +24 points |
| Q1 2025 | -6.4% | +32 points |
| Q4 2024 | 15% | +44 points |
| Q3 2024 | -14% | +23 points |
HSAI's operating margin was 0.3% last quarter, down 3 points from the same quarter a year ago.
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.
HSAI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | $0 |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | $0 |
| Q3 2025 | $0 | $0 |
| Q2 2025 | $0 | $0 |
| Q1 2025 | $0 | $0 |
| Q4 2024 | $0 | $0 |
| Q3 2024 | $0 | $0 |
HSAI's free cash flow was $0 over the past year, against $0 the year before.
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 the edge over HSAI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $3.3B |
HSAI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +17% | +24M shares |
| 3 years | +30% | +37.5M shares |
| 5 years | +69% | +66.7M shares |
| Available history | +84% | +74.6M shares |
HSAI has 163M diluted shares, up 17% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
HSAI hasn't bought back shares in the past year.
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.
HSAI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -1.5x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | -1.3x | Net Cash |
| Q3 2025 | -3.2x | Net Cash |
| Q2 2025 | -9.7x | Net Cash |
| Q1 2025 | -58.4x | Net Cash |
HSAI 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).
HSAI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.4 | Neutral |
| Stochastic | 20.8 | Neutral |
HSAI's weekly RSI is 42 (neutral) and its Stochastic is 21 (neutral).
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.
HSAI PE vs Consumer Cyclical Sector
| Metric | HSAI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 18x | — |
HSAI has no meaningful PE right now: it lost money over the past year.
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 has stronger trend alignment. AMZN is above 5 of 5 weekly averages versus HSAI above 0 of 4.
HSAI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.2 | 0.4% below |
| 20 week MA | $16.0 | 12% below |
| 50 week MA | $20.0 | 29% below |
| 100 week MA | $19.8 | 28% below |
HSAI is in a downtrend: it's below all four of its weekly moving averages, and 28% below its 100-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 the edge over HSAI on returns for 2026, with the stronger performance.
HSAI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $22.2 | $8.91 | -60% |
| 2024 | $8.91 | $13.5 | +52% |
| 2025 | $13.5 | $22.5 | +67% |
| 2026 YTD | $22.5 | $14.2 | -37% |
HSAI is down 37% so far in 2026, after finishing higher in two of the previous three years.