AMAZON COM INC
AMZN · scored from FY2025 filings · Narrow moat
On the watchlist
The four filters
Pricing power62
Median gross margin 41.5% over 10y, stable.
Returns on capital94
Median ROIC 19.4%, above the 9% hurdle in 90% of years.
Balance-sheet safety100
Net cash position — no leverage risk.
Capital discipline60
Owner earnings +40.0%/yr, share count growing (dilution).
Margin of safety
Above valueOn sale
- Owner earnings (normalized)
- $33.4B
- Est. intrinsic value / share
- $55.96
- Recent price
- —
- Discount to value
- No price data
Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).
Moat Score history
Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.