Interest costs rose 10%. The median company paid the same
A panel of 1,519 listed non-financial companies. Interest expense rose 10.1% in the first half of 2026 — and twenty companies produced three quarters of the rise.
6 primary sourcesTicker · 4 articles
AMZN
Every article on this page was built from the company's own filings. The documents they were read from are listed below, so you can check any figure yourself.
Last checked Aug 20, 2026All companies
When free cash flow falls, conversion says if it matters
A screen of 3,631 SEC filers found 45 companies whose profit rose and free cash flow fell. A third still converted above 100%. The full table, and what sorts it.
8 primary sourcesThree ways reported capex understates what a company spends
A semiconductor maker with capex at 0.48% of revenue. A retailer whose free cash flow flips sign. A tag that returns nothing. All three are in the filings.
5 primary sourcesAmazon's FY2025 free cash flow: $7.7B, $6.1B, or −$11.8B
Three standard definitions, one 10-K, three answers — and one of them is negative. The same test applied to Alphabet, Microsoft and Meta, computed from the filings.
7 primary sourcesFigures we worked out for AMZN
Not a data feed. Each of these was calculated inside one of the articles above, from the filings listed at the bottom of this page. The arithmetic is shown so you can redo it — and it is re-run every time this site is built.
| Figure | Value | Arithmetic |
|---|---|---|
| Interest costs rose 10%. The median company paid the same | ||
| Amazon, first half to first half | +100.0% | 2114 / 1057 - 1 |
| When free cash flow falls, conversion says if it matters | ||
| Amazon free cash flow, calendar 2025 | $7,695m | 139514 - 131819 |
| Amazon cash conversion | +9.9% | 7695 / 77670 |
| Amazon free cash flow decline | −76.6% | 7695 / 32878 - 1 |
| Amazon net income growth | +31.1% | 77670 / 59248 - 1 |
| Three ways reported capex understates what a company spends | ||
| Amazon free cash flow, also deducting finance leases | $6,138m | 139514 - 131819 - 1557 |
| Amazon's FY2025 free cash flow: $7.7B, $6.1B, or −$11.8B | ||
| Open gap on Jul 31 | +12.5% | 265.00 / 235.50 - 1 |
| Close-to-close on Jul 31 | +15.3% | 271.58 / 235.50 - 1 |
| Trailing twelve months, definition A | −$11,625m | 161403 - 173028 |
9 figures from 4 articles. Totals and industry averages that belong to no single company are not listed here.
Primary sources used
- Federal Reserve Bank of St. Louis (FRED) — Federal Funds Effective Rate, series DFFDaily effective rate · half-year averages and cut dates quoted here computed from the full daily series
- SEC XBRL frames API — InterestExpenseNonoperating, CY2026Q2The tag most of this panel uses · 1,283 of 1,519 companies
- SEC XBRL frames API — InterestExpense, CY2026Q2The older tag · 628 companies · one of eight frame calls behind the panel
- SEC company concept API — Alphabet Inc., InterestExpenseNonoperatingSpot-checked against the 10-Q values: $34M, $261M, $533M, $1,278M for the four quarters
- SEC company concept API — Amazon.com, Inc., InterestExpenseNonoperatingSpot-checked against the 10-Q values: $541M, $516M, $800M, $1,314M
- SEC company concept API — The Kraft Heinz Company, InterestExpenseThe negative second quarter discussed in the limitations is in the 10-Q, not an API artefact
- SEC XBRL frames API — NetIncomeLoss, CY20255,610 filers · the net income side of this screen
- SEC XBRL frames API — NetCashProvidedByUsedInOperatingActivities, CY20255,706 filers · operating cash flow
- SEC XBRL frames API — PaymentsToAcquirePropertyPlantAndEquipment, CY20253,529 filers · the standard capital expenditure tag
- SEC XBRL frames API — PaymentsToAcquireProductiveAssets, CY2025529 filers · the alternate capex tag · six companies on this list use it, including Amazon
- SEC company concept API — Vince Holding Corp, NetIncomeLossThe 10-K value ($6,378,000) and the DEF 14A value ($6,378,000,000) sit side by side in this response
- Oracle Corporation — SEC filing history (CIK 0001341439)Spot-checked: operating cash flow $31,977M, capex $55,663M, fiscal year ended 31 May 2026
- Amazon.com, Inc. — SEC filing history (CIK 0001018724)Spot-checked: operating cash flow $139,514M, capex $131,819M, calendar 2025
- Daily closing prices, ORCL and AMZN, February–August 2026 (market data, not a filing)The largest single-day moves quoted in the summary · prices may be delayed and are not from a filing
- Sandisk Corporation — Form 8-K and Q4 FY2026 earnings release, August 5 2026Cash flow statement showing $43M of capex, Flash Ventures note receivable issuances
- Amazon.com, Inc. — FY2025 Form 10-KFinance lease principal repayments; capex reported under PaymentsToAcquireProductiveAssets
- Daily closing prices, SNDK, July–August 2026 (market data, not a filing)The 6 August close-to-close move quoted in the summary · prices may be delayed and are not from a filing
- Amazon.com, Inc. — Form 10-Q, quarter ended June 30 2026Trailing-twelve-month cash flow presentation
- Alphabet Inc. — FY2025 Form 10-Kaccession 0001652044-26-000018
- Microsoft Corporation — FY2026 Form 10-KFiscal year ended June 30 2026
- Meta Platforms, Inc. — FY2025 Form 10-Kaccession 0001628280-26-003942
- SEC Division of Corporation Finance — Non-GAAP Financial Measures, C&DI 102.07Staff guidance on free cash flow · last updated December 13 2022
- Daily closing prices, AMZN, July–August 2026 (market data, not a filing)The close-to-close move quoted in the summary · prices may be delayed and are not from a filing
23documents, deduplicated. Links go to the original filing, not to a summary.