Amazon’s valuation metrics show a Price-to-Sales around 3.43, with concerns given the company is cash-flow-negative and not profitably measured by earnings.

Bloomberg Law is cited as the source, with access potentially requiring a subscription for full coverage.

Market context indicates Amazon earns about 74% of revenue from retail, 17% from AWS, and 9% from advertising, with international segments contributing 22% of total revenue and major markets including Germany, the UK, and Japan.

The piece notes growing attention to labor practices like ‘quiet hiring,’ where roles are redistributed within existing staff without filling vacancies, potentially increasing workloads.

The case reflects broader global labor tensions in logistics, with parallel union actions in Austria seeking heat-protection rules for parcel carriers and dock workers amid extreme weather.

Investors should approach Amazon cautiously due to ongoing legal challenges, insider selling, and high valuation despite growth potential.

Insider activity shows $36.7 million in shares sold in the last three months with no insider buying, signaling waning confidence.

New Jersey Attorney General filed an antitrust lawsuit against Amazon, Amazon.com Services LLC, and Amazon Logistics Inc, alleging monopsony power in the DSP delivery driver market that suppresses wages, blocks unionization, and restricts workers from switching to higher-paying jobs.

The Delivery Service Partner program, launched in 2018, is described as tightly controlled by Amazon, undermining DSPs’ operational independence with claims that Amazon sets routes, performance standards, uniforms, software, and branded vehicles.

The complaint says Amazon uses AI, in-vehicle cameras, and other technology to monitor drivers and retaliates against union drives by reallocating routes or, in at least one instance, ending a DSP’s work at a facility.

Market note: GF Value is cited at 244.49 with a current price around 277.44, implying roughly 13.5% overvaluation, presented as directional rather than precise fair value.

In Germany, about 36,000 wholesale workers in the Palatinate will receive a 2.9% pay raise retroactive to August 1, 2026, followed by a 2.1% increase in May 2027 under a 24‑month agreement that also includes apprenticeship wage bumps.