Amazon.com, Inc. (AMZN)
Amazon runs the largest US e-commerce marketplace and, through AWS, the leading cloud-computing platform. It also holds sizeable positions in advertising, logistics, and streaming media.
Consumer Discretionary stock comparison
AMZN vs GOOGL: which business are you actually underwriting?
Amazon.com (AMZN) is the larger business by reported revenue: $716.9B in its fiscal year ended Dec 2025, about 1.8× GOOGL's $402.8B (fiscal year ended Dec 2025). AMZN's net margin was 10.8% and GOOGL's 32.8%. The SEC classifies them differently (Retail-Catalog & Mail-Order Houses; Services-Computer Programming, Data Processing, Etc); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Sector
- Different
- Consumer Discretionary / Communication Services
- SEC industry
- Different
- Separate classifications
- Fiscal year ends
- December 31
- Same calendar
- Reviewed
- Feb 6, 2026
AMZN vs GOOGL: quick comparison
| Company fact | AMZN | GOOGL |
|---|---|---|
| Company | Amazon.com, Inc. | Alphabet Inc. |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | Seattle, Washington | Mountain View, California |
| Founded | 1994 | 1998 |
| SEC industry | Retail-Catalog & Mail-Order Houses | Services-Computer Programming, Data Processing, Etc. |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-06 | 10-K · 2026-02-05 |
AMZN vs GOOGL: audited financials
- Scale: AMZN's $716.9B of revenue is about 1.8× GOOGL's $402.8B.
- Net margin: GOOGL kept 32.8% of revenue as net income versus 10.8% at AMZN.
- Cash conversion: operating cash flow equalled AMZN 19.5% of revenue, or 1.80× net income; GOOGL 40.9% of revenue, or 1.25× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | AMZN | GOOGL |
|---|---|---|
| Revenue | $716.9B2025-01-01 to 2025-12-31 · SEC filing | $402.8B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $77.7B2025-01-01 to 2025-12-31 · SEC filing | $132.2B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $139.5B2025-01-01 to 2025-12-31 · SEC filing | $164.7B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $7.172025-01-01 to 2025-12-31 · SEC filing | $10.812025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 10.8%2025-01-01 to 2025-12-31 · SEC filing | 32.8%2025-01-01 to 2025-12-31 · SEC filing |
AMZN: FY ending 2025-12-31 · GOOGL: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where AMZN and GOOGL overlap, and where they don't
Overlap
- Shared research theme: Artificial intelligence.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: AMZN files as Retail-Catalog & Mail-Order Houses; GOOGL as Services-Computer Programming, Data Processing, Etc.
- Scale: AMZN reported about 1.8× the annual revenue of GOOGL.
- Profitability: net margin of 10.8% for AMZN versus 32.8% for GOOGL.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Alphabet Inc. (GOOGL)
Alphabet is the parent of Google, which operates the world's dominant search engine, YouTube, the Android platform, and the Google Cloud business. Its Gemini models place it at the center of the competition in consumer and enterprise AI.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves AMZN
- AWS revenue growth and the pace of AI-related infrastructure spending
- Third-party seller services, advertising, and Prime subscription fees within North America and International
- Fulfillment network and data-center utilization and cost per unit
- Cash capital expenditures relative to operating cash flow
What moves GOOGL
- Google Search & other advertising revenue and query monetization as AI features expand
- Google Cloud consumption growth and operating margin
- Traffic acquisition costs and the mix shift away from Google Network
- Capital expenditures for AI infrastructure and TPUs
The investment question
You now know AMZN reports about 1.8× GOOGL's revenue, and GOOGL keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about “AWS revenue growth and the pace of AI-related infrastructure spending” at AMZN and “Google Search & other advertising revenue and query monetization as AI features expand” at GOOGL, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 119 matched transaction rows for AMZN and 89 matched transaction rows for GOOGL. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
AMZN primary filings
GOOGL primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
AMZN vs GOOGL FAQs
Are AMZN and GOOGL direct competitors?
Not necessarily. Amazon.com files as Retail-Catalog & Mail-Order Houses and Alphabet as Services-Computer Programming, Data Processing, Etc. The pair is compared because both map to the Artificial intelligence research theme, not because the filings show head-to-head competition.
Is AMZN or GOOGL the bigger company by revenue?
Amazon.com (AMZN) is the larger business by reported revenue: $716.9B in its fiscal year ended Dec 2025, about 1.8× GOOGL's $402.8B (fiscal year ended Dec 2025). AMZN's net margin was 10.8% and GOOGL's 32.8%. The SEC classifies them differently (Retail-Catalog & Mail-Order Houses; Services-Computer Programming, Data Processing, Etc); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, AMZN or GOOGL?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this AMZN vs GOOGL comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Amazon.com, Inc. and Alphabet Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-01. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-01. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
AMZN vs GOOGL compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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