Consumer Discretionary • Broadline E-Commerce, Logistics & Hyperscale Cloud (AWS) • SIC 5961
$240.35 ▼ -3.44
(-1.41%)
MKT CAP: $2.63T • VOL: 104.90M
52W L $81 52W H $287
AMZN // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>)
SOURCE: Form 10-K (FY2025) // Item 1 North America, International & AWS
01 // UPSTREAM SUPPLIERS & FOUNDRIES
NVDA <GO>
CRITICAL
NVIDIA Corporation
SUPPLIER • AWS EC2 GPU Clusters for Bedrock & Enterprise AI Customers
EST. COGS / CAPEX SHARE 38%
EVIDENCE: 10-K Property & Equipment Capex ($75B+ AWS/Fulfillment Capex)
MRVL <GO>
HIGH
Marvell / TSMC Custom AWS Silicon (Trainium & Graviton)
FOUNDRY / INFRA • Co-Design & 3nm Foundry Fabrication for Custom AWS Chips
EST. COGS / CAPEX SHARE 24%
EVIDENCE: AWS Custom Silicon Supply Agreements & 10-K Infrastructure
PLD <GO>
HIGH
Prologis, Inc.
FOUNDRY / INFRA • Last-Mile & Regional Fulfillment Warehouse Leases Globally
EST. COGS / CAPEX SHARE 16%
EVIDENCE: 10-K Note 4 Operating & Finance Lease Obligations
CORE VALUE-CHAIN HUB NASDAQ
AMZN // Amazon.com, Inc.
GROSS MARGIN
—
OP MARGIN
—
ROIC %
17.6%
MKT CAP
$2.63T
UPSTREAM INPUTS ──► AMZN OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
NFLX <GO>
REV SHARE: ~18%
Enterprise Cloud Natives (Netflix, Salesforce, Capital One)
CUSTOMER • Multi-Year AWS Cloud Compute, Storage & AI Commitments
EVIDENCE: 10-K Note 10 AWS Segment ($105B+ Run-Rate) & $160B+ Backlog
AAPL <GO>
REV SHARE: ~34%
Third-Party Marketplace Sellers & Brand Advertisers (>60% Units)
CUSTOMER • FBA Fulfillment Fees, Seller Commissions & Sponsored Product Ads
EVIDENCE: 10-K Third-Party Seller Services & Advertising Services Breakdown
DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX
LIVE DB CROSS-COMPARISON
| TICKER | COMPANY | LAST | MKT CAP | GROSS MGN | OP MGN | ROIC % | EV/EBITDA | REV YOY | HEAD-TO-HEAD |
|---|---|---|---|---|---|---|---|---|---|
| AMZN ★ | Amazon.com, Inc. | $240.35 | $2.63T | — | — | 17.6% | 15.8x | — | SUBJECT ISSUER |
| WMT | Walmart Inc. | $121.25 | $961.97B | 25.2% | 4.4% | 20.1% | 22.5x | +6.2% | AMZN VS WMT <GO> |
| MSFT | Microsoft Corporation | $530.14 | $3.94T | 67.7% | 47.1% | 26.5% | 19.9x | +17.9% | AMZN VS MSFT <GO> |
| COST | Costco Wholesale Corporation | $996.08 | $441.39B | 12.8% | 3.9% | 42.4% | 31.4x | +10.1% | AMZN VS COST <GO> |
| TSLA | Tesla, Inc. | $403.30 | $1.59T | 19.3% | 3.4% | 3.4% | 199.0x | +8.3% | AMZN VS TSLA <GO> |
| V | Visa Inc. | $410.54 | $733.53B | — | 60.0% | 32.3% | 28.9x | +11.3% | AMZN VS V <GO> |
| MA | Mastercard Incorporated | $635.70 | $556.88B | — | 57.6% | 33.5% | 29.2x | +16.4% | AMZN VS MA <GO> |