AMAZON COM INC (AMZN)

Retail-Catalog & Mail-Order Houses

Latest Price

$251.89

TTM P/E

20.31

Normalized P/E

21.85

Div Yield

Book Value

51.28

P/B Ratio

4.91

Valuation metrics

EPS: $7.17

Book value / share: $38.31

Formula: √(22.5 × EPS × BVPS)

Graham Number

$78.61

69% downside

Norm. op. income: $24.9B (median of 7yr)

Tax rate: 15%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$24.66

90% downside

Base FCF: $32.2B (median of recent 5yr)

Growth: 2%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$46.21

82% downside

EPS: $7.17

Target P/E: 22×

Formula: EPS × P/E

P/E Fair Value

$157.74

37% downside

68.6% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	750.81M	$178.95B	6.96%	+14.12M	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	635.76M	$151.53B	5.90%	+4.59M	2026-06-30
STATE STREET CORP	397.19M	$94.67B	3.68%	+6.74M	2026-06-30
FMR LLC	365.66M	$87.15B	3.39%	+6.96M	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	233.21M	$55.40B	2.16%	-16.4K	2026-06-30
MORGAN STANLEY	179.38M	$42.75B	1.66%	+5.45M	2026-06-30
JPMORGAN CHASE & CO	167.98M	$40.34B	1.56%	+7.93M	2026-06-30
Invesco Ltd.	143.82M	$34.28B	1.33%	+86.68M	2026-06-30
NORGES BANK	140.57M	$33.50B	1.30%	-1.83M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	121.63M	$28.99B	1.13%	-5.39M	2026-06-30