Bugs
0
Under review
Financials Missing For AMAZON and TTM
Hi, two things I wanted to point out.
1) OSV isn't listing Amazons R&D expense and that will eschew the valuations like EBIT, understandably.
2) Some of the stocks show a 0 for TTM.
Customer support service by UserEcho
But thank you for your hard work and continued commitment to OSV! Have a great Holiday! God Bless.
Hi Brian,
Unfortunately, AMZN doesn't list an R&D expense in its financial statements. Here's a link to their latest 10-K:
https://www.sec.gov/Archives/edgar/data/1018724/000101872418000005/amzn-20171231x10k.htm
You can see that they list a "Technology and content" expense on their income statement, and one of their notes mentions that this includes their company-sponsored R&D expense, but it would be impossible to know what is R&D and what is content, among other things. Like Netflix, I'm sure they're spending a lot on content. There's no way for us to systematically know what's R&D, content, or other technology. However, those expenses are included in our other operating expense lines, and thus would be deducted from EBITDA and EBIT. Unless you're adding back R&D for some reason, this shouldn't affect DCF or EBIT multiples valuations.
Thanks for your feedback! Let us know if we missed something.
Mike