Amazon Com Inc (AMZN) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Retail / Consumer Discretionary · as of Sep 24, 2026
Amazon Com Inc (AMZN)
A forensic read on Amazon Com Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
8.7
Distress distance
Clean
Earnings quality
3
Forensic signals
20.2
P / E (ttm)
18.9%
ROE
$2.7T
Market cap
12.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Amazon Com Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 8.7, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+38.9%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +38.9% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by PP&E up +41% against revenue +12% and receivables up +22% against revenue +12%. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 19% of net operating assets, against an accruals ratio of 38.9%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
+1.6%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +3% over the last 2 years to FY2025 (+1.6%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~3%.
12.5%
FY2025
Return on invested capital.Return on invested capital is 12.5% in the latest fiscal year, against 10% in FY2023, having run between 10.0% and 16.0% across FY2023–FY2025 with no direction held. The capital base behind it grew +73% across FY2023–FY2025, from $298.0B to $516.0B, and the return did not fall doing it, so the dollars added over that window earned at least the 10% the older base was already earning.
Key fundamentals
Latest Revenue$716.92B
Revenue Growth YoY+12.4%
Revenue CAGR (2yr)+11.7%
Net Margin10.8%
Free Cash Flow$7.70B
Return on Equity18.9%
Debt / Equity0.17x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Amazon Com Inc's actual 10-K/10-Q/8-K filings?