Amazon vs Microsoft — Free Cash Flow Comparison

Amazon (AMZN) free cash flow was $7.7B in FY2025 (-77% YoY); Microsoft (MSFT) free cash flow was $71.6B in FY2025 (-3% YoY). The tables below show the complete quarterly and annual free cash flow history, sourced from SEC EDGAR 10-K and 10-Q filings.

Fiscal Year	Amazon	Microsoft
2025	$7.7B	$71.6B
2024	$32.9B	$74.1B
2023	$32.2B	$59.5B
2022	-$16.9B	$65.1B
2021	-$14.7B	$56.1B
2020	$25.9B	$45.2B
2019	$21.7B	$38.3B
2018	$17.3B	$32.3B
2017	$6.4B	$31.4B
2016	$9.4B	$25.0B
2015	$6.7B	—
2014	$1.9B	—
2013	$2.0B	$24.6B
2012	$395M	$29.3B
2011	$2.1B	$24.6B
2010	$2.5B	$22.1B
2009	$2.9B	$15.9B
2008	$1.4B	$18.4B
2007	$1.2B	—

Amazon — Annual Free Cash Flow

Fiscal Year	Free Cash Flow	YoY
2025	$7.7B	-77%
2024	$32.9B	+2%
2023	$32.2B	+291%
2022	-$16.9B	-15%
2021	-$14.7B	-157%
2020	$25.9B	+20%
2019	$21.7B	+25%
2018	$17.3B	+170%
2017	$6.4B	-32%
2016	$9.4B	+41%
2015	$6.7B	+241%
2014	$1.9B	-4%
2013	$2.0B	+414%
2012	$395M	-81%
2011	$2.1B	-17%
2010	$2.5B	-14%
2009	$2.9B	+114%
2008	$1.4B	+15%
2007	$1.2B

Microsoft — Annual Free Cash Flow

Fiscal Year	Free Cash Flow	YoY
2025	$71.6B	-3%
2024	$74.1B	+25%
2023	$59.5B	-9%
2022	$65.1B	+16%
2021	$56.1B	+24%
2020	$45.2B	+18%
2019	$38.3B	+19%
2018	$32.3B	+3%
2017	$31.4B	+26%
2016	$25.0B	+2%
2013	$24.6B	-16%
2012	$29.3B	+19%
2011	$24.6B	+12%
2010	$22.1B	+39%
2009	$15.9B	-14%
2008	$18.4B

Source: AMZN on EDGAR · MSFT on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.