Amazon.com Inc. (AMZN) 10-K Red Flags
Risk signals extracted deterministically from Amazon.com Inc.’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (12)
- Free cash flow deteriorating: FCF declined +76.6% YoY (from $32.88B to $7.70B). With OCF at $139.51B and capex at $131.82B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- Operating cash flow exceeds net income: OCF is 1.80x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- NEW: Impairment charge: Impairment charge appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- 7 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Impairment charge, Off-balance sheet arrangements.
- Market cap $2.85T at $264.21 per share.
- Trailing P/E 36.85, P/S 3.98, P/B 5.17.
- Free cash flow deteriorating: FCF declined +76.6% YoY (from $32.88B to $7.70B). With OCF at $139.51B and capex at $131.82B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- Operating cash flow exceeds net income: OCF is 1.80x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
Filings & ownership
- Latest annual report (10-K) filed Feb 6, 2026.
- Latest quarterly report (10-Q) filed Jul 31, 2026.
- 12 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Amazon.com Inc.; broad institutional reporting.
- Recent filers include Game Plan Financial Advisors, LLC, Mitsubishi UFJ Securities International PLC, Mitsubishi UFJ Securities International PLC.
- 5 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 15 recent 13G passive institutional ownership notices.
Full AMZN analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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