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Barchart
Barchart
Mark R. Hake, CFA

Amazon's Massive Capex Spending Reduces FCF to a Trickle - But Does the Market Care?

Amazon Amazon.com Inc. TTM Barchart AWS

Amazon Inc. (AMZN) produced just $1.232 billion in free cash flow (FCF) on a trailing 12-month (TTM) basis in Q1. That's barely 0.17% of its TTM sales, despite a 19.8% operating cash flow (OCF) margin. But does the market care? Apparently not, as AMZN stock has been rising.

AMZN closed at $268.26 on Friday, May 1, up 2% from April 29 ($257.70) when Amazon released its Q1 earnings after the market close. In fact, it's now at a 6-month high.

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