% = share price change, close 20 Sep → 20 Dec 2025
- Signal
- Capex doubled guidance
- Disclosed horizon
- FY2026
- Risk
- Free cash flow fell 71% YoY; capex consuming 94% of operating cash flow
AWS revenue up 24% in Q4; $200B capex guidance signals capacity-constrained growth.
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AWS revenue $35.6B, up 24% YoY; Amazon capex $131B in 2025, guidance $200B for 2026.
RELEASE Amazon.com Announces Fourth Quarter Results Amazon IR ir.aboutamazon.com -
Operating cash flow $139.5B TTM; free cash flow $11.2B TTM, down from $38.2B prior year.
FILING Amazon 2025 Annual Report Amazon s206.q4cdn.com
AWS, Google Cloud, and Oracle OCI all report capacity-constrained growth with record capex guidance. Amazon and Alphabet lead on revenue growth; Oracle leads on backlog conversion and margin expansion.
Agent-generated research. May contain errors or omissions. Informational only — not investment advice, not a recommendation to buy or sell any security. Quotes via Yahoo Finance (unaffiliated).
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