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Amazon.com, Inc (1AMZN) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Amazon.com, Inc €54.67, price €223, upside -75.5%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Broad data
Sep 28, 2026
Amazon.com, Inc
1AMZN · MIStretched ValuationStrong overvaluation with only moderate quality.
!Fair value €54.67 · Strongly overvalued (−75.5%)
!Quality 52/100
!Expensive Growth (revenue 3y +11.7 %/yr)
✓Solidly profitable · 12.2% net margin (TTM)
✓Low debt · generates free cash flow
!Moderate moat 62/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range €77.39 – €248.55 · fair‑value band €41.32 – €87.68 · the €222.70 price screens above the €54.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
Company profile
Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS).
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Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, fire tablets, fire TVs, echo, ring, blink, and eero; and develops and produces media content. In addition, the company offers programs that enable sellers to sell their products in its stores; and programs that allow authors, independent publishers, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content. Further, it provides compute, storage, Artificial intelligence, database, analytics, machine learning, and other services, as well as advertising services through programs, such as sponsored ads, display, and video advertising. Additionally, the company offers Amazon Prime, a membership program. The company's products offered through its stores include merchandise and content purchased for resale and products offered by third-party sellers. It serves consumers, sellers, developers, enterprises, content creators, advertisers, and employees. The company was incorporated in 1994 and is headquartered in Seattle, Washington.
Stock analysis
Amazon.com, Inc (1AMZN) currently trades at €222.70, while our model-based Fair Value estimate is €54.67, 75.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €99.06 per share, and 0 of the 24 models we run sit above the €222.70 price.
Bear case: the Growth DCF group reads lowest at €20.92, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €41.32 (bear) to €87.68 (bull), the price of €222.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Amazon.com, Inc reported revenue of $717B in FY2025 versus $514B in FY2022, a compound +11.7%/yr. Reported net income was $77.7B in FY2025.
Key figures
Market cap €2.4T · P/E ratio 33.0 · P/S ratio 3.57 · EPS (TTM) €6.75 · Net margin 10.8% · Return on equity 24.3% · Return on assets (EBIT) 7.6% · Operating margin 13.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −75%, 1AMZN screens richer than that median.
Fair Value models
Bear €41.32
Fair Value €54.67
Bull €87.68
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€5.10 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
€12.42
€21.55
€38.18
74
Growth DCF
€12.38
€20.92
€36.32
73
EPV
€53.93
€63.13
€71.32
71
All 24 models by family
DCF Models
FCF DCF
€12.42
€21.55
€38.18
74
Owner Earnings
€16.82
€29.72
€53.20
70
5Y Revenue Exit
€39.17
€75.98
€127.35
67
5Y EBITDA Exit
€39.73
€77.13
€124.93
70
5Y P/E Exit
€48.18
€94.54
€148.40
66
10Y Revenue Exit
€28.70
€61.43
€114.02
60
10Y EBITDA Exit
€30.86
€62.29
€111.95
62
10Y P/E Exit
€36.59
€75.34
€132.04
58
Earnings-Based
Graham-Dodd
€43.62
€201.71
€277.00
61
Lynch FV
€53.12
€75.88
€98.65
58
PEG = 1.0
€53.12
€75.88
€98.65
55
EPV
€53.93
€63.13
€71.32
71
Multiples
P/E Multiple
€67.35
€89.80
€112.25
63
P/S Multiple
€53.29
€71.05
€88.81
58
P/B Multiple
€45.83
€61.11
€76.38
55
EV/EBIT
€51.28
€67.80
€84.31
66
EV/EBITDA
€55.91
€73.96
€92.01
67
EV/Revenue
€51.48
€72.80
€94.11
54
Asset-Based
NCAV (Graham)
€16.97
€22.75
€33.95
54
Growth DCF
Growth DCF
€12.38
€20.92
€36.32
73
Rev-Margin DCF
€39.17
€74.25
€119.38
68
Economic Profit
Residual Income
€42.66
€57.73
€103.47
64
ROIC Compounder
€61.22
€84.54
€116.79
68
Growth Earnings
Growth-Adj P/E
€69.34
€99.06
€128.77
65
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Set up alert →Quality Score breakdown
Overall quality
52/100
Of which business quality 54 · Market factors (momentum, volatility) 53
Profitability
65
Margins and returns on capital today
Quality Growth
43
Are margins and returns improving?
Cashflow
44
Earnings quality: real cash, not paper profit
Fin. Strength
80
Balance sheet, leverage, solvency risk
Investment
3
Disciplined investing over empire-building
Low Volatility
42
Calm price path (market factor)
Momentum
56
Price trend over the last 3–12 months (market factor)
52W Momentum
61
Distance to the 52-week high (market factor)
Net Issuance
67
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+12.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.7%
’22
’23
’24
’25
What shareholders gained per year (last 3 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+57.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+57.2%
Dividend (yield on the price)0.0%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.2% → 11%
2025 sits 70% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+78.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +74.2% a year for the price and +9.1% for the forecasts.
Forecast 2026 (sales)+14.9%
Forecast 2027 (sales)+13.0%
Projected 2028 (sales)+11.6%
Projected 2029 (sales)+10.3%
Projected 2030 (sales)+8.9%
1AMZN screens overvalued: fair value 75% below the price. Compare with Alibaba Group →
Recent news
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.
Very negative
Recent news coverage is unusually downbeat.
- Constellation Stock Rises as Amazon Backs Nuclear Plant Expansion
- Constellation Energy stock climbs on Amazon nuclear power deal
- Constellation and Amazon Announce 20-Year Power Purchase Agreement Adding 190 Megawatts of Nuclear Capacity at Calvert Cliffs
- Amazon Signs $1 Billion Synopsys Deal as AWS Steps Up Nvidia Challenge
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Context: sector, industry, market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Internet Retail stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Alibaba Group BABA | $107.54 | $66.62 | −38% |
| MercadoLibre, Inc MELI | $1,725 | $1,897 | +10% |
| DoorDash, Inc DASH | $178.39 | $196.23 | +10% |
| Sea Limited SE | $95.27 | $129.32 | +36% |
| eBay Inc EBAY | $107.32 | $118.05 | +10% |
| JD.com, Inc JD | $26.30 | $33.32 | +27% |
| Coupang, Inc CPNG | $13.88 | $4.96 | −64% |
| Wayfair Inc W | $102.56 | $34.72 | −66% |
| Allegro.eu S.A ALE | 49.56 PLN | 54.51 PLN | +10% |
| Delivery Hero SE DHER | €36.68 | €12.59 | −66% |
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Frequently asked questions
Is Amazon.com, Inc (1AMZN) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of €54.67 versus a price of €222.70, about −75% upside (overvalued).
What is the fair value of 1AMZN?
Our model-based fair value for Amazon.com, Inc is €54.67 (as of Sep 28, 2026), built from audited fundamentals. The current price: €222.70.
What is the quality score of 1AMZN?
Amazon.com, Inc has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Amazon.com, Inc (1AMZN)?
Our model-based price target is the fair value of €54.67 (as of Sep 28, 2026) from 24 valuation models. Cautious scenario €41.32, optimistic scenario €87.68. It is a calculation from audited fundamentals, not an analyst target.
What is the Amazon.com, Inc stock forecast for 2026?
Our models put fair value at €54.67, about −75% upside versus a price of €222.70 (overvalued). Cautious scenario €41.32, optimistic scenario €87.68. The calculation is refreshed regularly with new filings.
What is the revenue of Amazon.com, Inc (1AMZN)?
Amazon.com, Inc reported trailing-twelve-month revenue of about $743B (latest available figure, as of Sep 28, 2026).
What growth is priced into Amazon.com, Inc (1AMZN)?
For today's price to be fair in a discounted-cash-flow model, Amazon.com, Inc would have to grow free cash flow by +78.4 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +11.7 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of 1AMZN use?
Our models discount Amazon.com, Inc at 12.2 %: a base by market capitalisation (mega), damped by beta 1.44, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Amazon.com, Inc that is +78.4 % per year a year over ten years, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Amazon.com, Inc (1AMZN) delivered so far?
Over the past 3 years revenue at Amazon.com, Inc grew +11.7 % a year. The price currently implies +78.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Amazon.com, Inc (1AMZN) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into Amazon.com, Inc (+78.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Amazon.com, Inc (1AMZN)?
The free-cash-flow yield on the price is 0.29 %: that much free cash flow Amazon.com, Inc produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Amazon.com, Inc (1AMZN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Amazon.com, Inc it is €54.67 per share (as of Sep 28, 2026), against a price of €222.70. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Amazon.com, Inc stock overvalued or undervalued in 2026?
As of Sep 28, 2026, 1AMZN trades above its calculated fair value: price €222.70, fair value €54.67, a gap of about −75% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1AMZN?
No. The price is what the market pays today (€222.70); the fair value is what the company's own numbers justify (€54.67). For Amazon.com, Inc the two are €168.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is Amazon.com, Inc worth?
The market values Amazon.com, Inc at about €2.4T (market capitalisation, as of Sep 28, 2026). Per share that is €222.70; our models calculate a fair value of €54.67 per share.
What do the bullish and bearish scenarios say about 1AMZN?
Our models span a range for Amazon.com, Inc: cautious scenario €41.32, base €54.67, optimistic €87.68 per share (as of Sep 28, 2026, price €222.70). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 1AMZN from its 52-week high?
Amazon.com, Inc trades at €222.70, about 10% below its 52-week high of €248.55 and 33% above the low of €167.06 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €54.67 is for.
Which stocks are comparable to Amazon.com, Inc?
From the same area (Consumer Cyclical) we also value Alibaba Group, MercadoLibre, Inc, DoorDash, Inc, Sea Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Amazon.com, Inc stock attractive at the current price?
The data as of Sep 28, 2026: price €222.70, calculated fair value €54.67 (−75%), Quality Score 52/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1AMZN calculated?
We run Amazon.com, Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €54.67, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Amazon.com, Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Amazon.com, Inc (1AMZN)?
The closing price on Oct 2, 2026 was €222.70. Our model-based fair value is €54.67, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Amazon.com, Inc right now?
The price sits above even our optimistic bull case (€87.68). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€41.32 to €87.68) leaves room in how you read the outcome.
Key figures of Amazon.com, Inc
How large is the market capitalisation of Amazon.com, Inc (1AMZN)?
The market capitalisation of Amazon.com, Inc is €2.4T. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Amazon.com, Inc (1AMZN)?
The price-to-earnings ratio of Amazon.com, Inc is 33.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Amazon.com, Inc (1AMZN)?
The price-to-sales ratio of Amazon.com, Inc is 3.57 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Amazon.com, Inc (1AMZN)?
Earnings per share at Amazon.com, Inc are €6.75 (price ÷ EPS = P/E 33.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Amazon.com, Inc (1AMZN)?
The net margin of Amazon.com, Inc is 10.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Amazon.com, Inc (1AMZN)?
The return on equity (ROE) of Amazon.com, Inc is 24.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Amazon.com, Inc (1AMZN)?
On an EBIT basis the return on assets of Amazon.com, Inc is 7.6% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Amazon.com, Inc (1AMZN)?
The operating margin of Amazon.com, Inc is 13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Amazon.com, Inc (1AMZN)?
Revenue at Amazon.com, Inc is growing +16.6% versus a year earlier (3y avg +11.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Amazon.com, Inc (1AMZN)?
Earnings per share at Amazon.com, Inc are growing +74.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Amazon.com, Inc (1AMZN) carry?
The net debt of Amazon.com, Inc is $13.3B (fiscal year 2022, ≈ 1.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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