Is AMAZON COM INC's free cash flow repeatable?
See how much operating cash flow came from receivables, inventory, payables and customer advances, period by period.
Where the latest operating cash flow came from
In the fiscal year ending Jun 30, 2026, operating cash flow was $161.40B against net income of $135.28B (1.19× conversion). Tagged working-capital movements contributed $15.25B.
| 2025 | 2025 | 2025 | 2025 | 2026 | 2026 | |
|---|---|---|---|---|---|---|
| Net income | $65.94B | $70.62B | $76.48B | $77.67B | $90.80B | $135.28B |
| Depreciation & amortization | $55.37B | $58.56B | $61.92B | $65.76B | $70.44B | $75.20B |
| Receivables | Not disclosed in structured data | Not disclosed in structured data | Not disclosed in structured data | Not disclosed in structured data | Not disclosed in structured data | Not disclosed in structured data |
| Inventory | −$4.88B | −$5.85B | −$5.17B | −$3.00B | −$158.0M | $2.08B |
| Payables | $5.21B | $6.26B | $8.89B | $11.23B | $11.54B | $13.92B |
| Customer advances | $3.17B | $2.64B | $1.59B | −$214.0M | −$587.0M | −$749.0M |
| Other items (reconciling) | −$10.91B | −$11.10B | −$13.02B | −$11.93B | −$23.50B | −$64.33B |
| Operating cash flow | $113.90B | $121.14B | $130.69B | $139.51B | $148.53B | $161.40B |
| Cash conversion (OCF ÷ net income) | 1.73× | 1.72× | 1.71× | 1.80× | 1.64× | 1.19× |
Signs show the cash effect: a rise in receivables or inventory is negative; a rise in payables or customer advances is positive. "Other items" is operating cash flow minus every tagged line, so the bridge always reconciles to reported cash flow.
10-Q filed 2026-07-31 · NetCashProvidedByUsedInOperatingActivities
What would cash flow look like if working-capital days stayed constant?
Balance-sheet working-capital balances are not tagged for consecutive years, so the constant-days comparison is unavailable.