Return on Capital Employed snapshot
Amazon's return on capital employed was 13.3% in FY2025, compared with 15.4% in FY2024. On a trailing-twelve-month basis it was 12.2% as of Q1 FY26. Return on capital employed (ROCE) is operating income divided by capital employed (total assets less current liabilities). It measures operating return relative to long-term capital.
Return on Capital Employed (latest FY)
13.3%
Return on Capital Employed (TTM)
12.2%
Return on equity (latest FY)
18.9%
Return on invested capital (latest FY)
15.9%
Amazon Return on Capital Employed
Operating income ÷ (total assets − current liabilities)
Return on Capital Employed vs. related metrics
Amazon Return on Capital Employed — by fiscal year
| Fiscal year | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| FY2025 | 13.3% | 18.9% | 15.9% |
| FY2024 | 15.4% | 20.7% | 21.5% |
| FY2023 | 10.2% | 15.1% | 14.4% |
| FY2022 | 4.0% | -1.9% | 3.2% |
| FY2021 | 8.9% | 24.1% | 12.4% |
| FY2020 | 11.8% | 22.8% | 17.9% |
| FY2019 | 10.6% | 18.7% | 15.5% |
| FY2018 | 13.2% | 23.1% | 20.5% |
| FY2017 | 5.6% | 10.9% | 7.1% |
| FY2016 | 10.6% | 12.3% | 14.9% |
| FY2015 | 7.2% | 4.5% | 6.7% |
| FY2014 | 0.7% | -2.2% | 4.0% |
| FY2013 | 4.3% | 2.8% | 9.2% |
| FY2012 | 5.0% | -0.5% | 2.8% |
| FY2011 | 8.3% | 8.1% | 15.4% |
| FY2010 | 16.7% | 16.8% | 32.3% |
| FY2009 | 17.5% | 17.2% | 45.9% |
| FY2008 | 23.6% | 24.1% | 195.9% |
| FY2007 | — | 39.8% | — |
| FY2006 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| Q1 FY26 | 12.2% | 17.9% | 14.2% |
| Q4 FY25 | 13.3% | 16.0% | 15.9% |
| Q3 FY25 | 14.3% | 20.7% | 17.0% |
| Q2 FY25 | 15.4% | 21.2% | 18.9% |
| Q1 FY25 | 15.3% | 21.6% | 19.8% |
| Q4 FY24 | 15.4% | 20.7% | 21.5% |
| Q3 FY24 | 14.3% | 19.2% | 19.8% |
| Q2 FY24 | 13.7% | 18.8% | 18.8% |
| Q1 FY24 | 12.5% | 17.4% | 17.4% |
| Q4 FY23 | 10.2% | 15.1% | 14.4% |
| Q3 FY23 | 7.7% | 11.0% | 10.8% |
| Q2 FY23 | 5.4% | 7.8% | 8.4% |
Figures normalized from SEC filings. See the full Amazon ratios & metrics.