Return on Invested Capital snapshot
Amazon's return on invested capital was 15.9% in FY2025, compared with 21.5% in FY2024. On a trailing-twelve-month basis it was 14.2% as of Q1 FY26. Return on invested capital (ROIC) is after-tax operating profit divided by invested capital (debt plus equity, less cash). It measures the return a company earns on the total capital put to work in the business.
Return on Invested Capital (latest FY)
15.9%
Return on Invested Capital (TTM)
14.2%
Return on equity (latest FY)
18.9%
Return on assets (latest FY)
9.5%
Amazon Return on Invested Capital
After-tax operating profit ÷ invested capital
Return on Invested Capital vs. related metrics
Amazon Return on Invested Capital — by fiscal year
| Fiscal year | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| FY2025 | 15.9% | 18.9% | 9.5% |
| FY2024 | 21.5% | 20.7% | 9.5% |
| FY2023 | 14.4% | 15.1% | 5.8% |
| FY2022 | 3.2% | -1.9% | -0.6% |
| FY2021 | 12.4% | 24.1% | 7.9% |
| FY2020 | 17.9% | 22.8% | 6.6% |
| FY2019 | 15.5% | 18.7% | 5.1% |
| FY2018 | 20.5% | 23.1% | 6.2% |
| FY2017 | 7.1% | 10.9% | 2.3% |
| FY2016 | 14.9% | 12.3% | 2.8% |
| FY2015 | 6.7% | 4.5% | 0.9% |
| FY2014 | 4.0% | -2.2% | -0.4% |
| FY2013 | 9.2% | 2.8% | 0.7% |
| FY2012 | 2.8% | -0.5% | -0.1% |
| FY2011 | 15.4% | 8.1% | 2.5% |
| FY2010 | 32.3% | 16.8% | 6.1% |
| FY2009 | 45.9% | 17.2% | 6.5% |
| FY2008 | 195.9% | 24.1% | 7.8% |
| FY2007 | — | 39.8% | — |
| FY2006 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| Q1 FY26 | 14.2% | 17.9% | 8.6% |
| Q4 FY25 | 15.9% | 16.0% | 8.1% |
| Q3 FY25 | 17.0% | 20.7% | 10.5% |
| Q2 FY25 | 18.9% | 21.2% | 10.4% |
| Q1 FY25 | 19.8% | 21.6% | 10.3% |
| Q4 FY24 | 21.5% | 20.7% | 9.5% |
| Q3 FY24 | 19.8% | 19.2% | 8.5% |
| Q2 FY24 | 18.8% | 18.8% | 8.0% |
| Q1 FY24 | 17.4% | 17.4% | 7.1% |
| Q4 FY23 | 14.4% | 15.1% | 5.8% |
| Q3 FY23 | 10.8% | 11.0% | 4.1% |
| Q2 FY23 | 8.4% | 7.8% | 2.7% |
Figures normalized from SEC filings. See the full Amazon ratios & metrics.