AMZN
Amazon.com, Inc.
AMZN has the edge over M overall, supported by stronger valuation and stronger modeled upside.
M
Macy's, Inc.
M 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.
M Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
M'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 M in the historical PE scenario, which offers more potential upside but is not a forecast.
M PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.1x | $11.23 | -54% |
| Fair | 7.3x | $19.94 | -18% |
| Current | 8.9x | $24.33 | — |
| Forward | 11x | $24.33 | — |
| Expensive | 23x | $61.89 | +154% |
Historical ranges are pointers, not guarantees.
M's PE is in its fair range at 8.9x. On analysts' estimates for next year's earnings, today's price would be 11x, in its expensive range.
AMZN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
AMZN has the edge over M on the outlook, with more favorable revenue expectations.
M Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect M's earnings to grow and its profitability to improve, with its revenue 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'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.
M Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.24 | -18% |
| Q3 2026 | $2.73 | +55% |
| Q2 2026 | $2.42 | +22% |
| Q1 2026 | $2.32 | +12% |
| Q4 2025 | $1.70 | +183% |
| Q3 2025 | $1.76 | +171% |
| Q2 2025 | $1.98 | +4850% |
| Q1 2025 | $2.07 | +445% |
| Q4 2024 | $0.60 | -76% |
M's earnings per share have fallen from their peak: $2.73 over the past year, against $5.21 in early 2022.
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 M 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 has the edge over M on profitability, with a higher operating margin.
M Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +1.2% |
| Q2 2026 | $4.9B | +2.1% |
| Q1 2026 | $7.9B | -1.1% |
| Q4 2025 | $4.9B | +0.2% |
| Q3 2025 | $5B | -1.9% |
| Q2 2025 | $4.8B | -4.1% |
| Q1 2025 | $8B | -4.4% |
| Q4 2024 | $4.9B | -2.7% |
M's revenue fell from its 2022 peak and has held roughly level since: $5.1B last quarter, up 1.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.8% | +1.8 points |
| Q2 2026 | 2.3% | +0.3 points |
| Q1 2026 | 9.4% | +3.2 points |
| Q4 2025 | 0.8% | -0.5 points |
| Q3 2025 | 3% | -1.4 points |
| Q2 2025 | 2% | -0.5 points |
| Q1 2025 | 6.2% | +7.1 points |
| Q4 2024 | 1.3% | -0.4 points |
M's operating margin was 4.8% last quarter, up 1.8 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.
M Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $229M | -4.6% |
| Q2 2026 | $204M | +$368M |
| Q1 2026 | $1.1B | -9% |
| Q4 2025 | -$101M | +$194M |
| Q3 2025 | $240M | +$349M |
| Q2 2025 | -$164M | -$139M |
| Q1 2025 | $1.2B | +19% |
| Q4 2024 | -$295M | -$87M |
M 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 |
M Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -800K shares |
| 1 year | -1.4% | -4M shares |
| 3 years | -0.7% | -1.9M shares |
| 5 years | -15% | -46.7M shares |
| Available history | -13% | -39.1M shares |
M has the edge over AMZN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $53M |
| Q2 2026 | $51M |
| Q1 2026 | $50M |
| Q4 2025 | $51M |
| Q3 2025 | $52M |
| Q2 2025 | $97M |
| Q1 2025 | $1M |
| Q4 2024 | — |
M spent $205M buying back its own shares over the past year, up 37% 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.
M Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.1x | Healthy |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 2.1x | Moderate |
M 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).
M Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 61.4 | Neutral |
M's weekly RSI is 57 (neutral) and its Stochastic is 61 (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.
M PE vs Consumer Cyclical Sector
| Metric | M | Sector median | Relative |
|---|---|---|---|
| PE | 8.9x | 18x | 51% below |
| PE % | 60 | 47 | 13 pts above |
M 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.
M Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.5 | 3.7% above |
| 20 week MA | $23.3 | 4.4% above |
| 50 week MA | $22.0 | 11% above |
| 100 week MA | $18.3 | 33% above |
| 200 week MA | $17.6 | 38% above |
M is in an uptrend: it's above all five of its weekly moving averages, and 38% 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 the edge over M on returns for 2026, with the stronger performance.
M Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.5 | $10.8 | -35% |
| 2021 | $10.8 | $25.1 | +134% |
| 2022 | $25.1 | $20.3 | -19% |
| 2023 | $20.3 | $20.1 | -0.9% |
| 2024 | $20.1 | $17.5 | -13% |
| 2025 | $17.5 | $22.5 | +28% |
| 2026 YTD | $22.5 | $24.3 | +8.3% |
M has finished lower in four of the last six years. It's up 8.3% so far in 2026.