# Big-tech megacap platforms peer review

Descriptive comparison assembled from public SEC filings and verified companyfacts.

**Descriptive comparison -- not investment advice.** This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better.

## Companies

[AAPL](/company/AAPL/), [MSFT](/company/MSFT/), [GOOGL](/company/GOOGL/), [AMZN](/company/AMZN/), [META](/company/META/)

## Governing statutes (not legal advice)

**Descriptive law cross-reference -- not legal advice.** grepcent publishes a curated industry-to-statute association only. This is not legal advice. It does not interpret statutes, assess company conduct, or mirror statute text. Deep links go to neochart.

Statutes grepcent curates as governing this industry, deep-linked to neochart's official text. Case-citation counts are shown as an importance signal, not the selection criterion. Not legal advice. Citing cases are shown as a case-citation in-degree importance signal, not an endorsement.

- [15 U.S.C. § 1](https://www.neochart.com/catalog/federal/title_15/section_1/title15_sec1_d96bfd19b1fb/1_trusts_etc_in_restraint_of_trade_illegal_penalty_every_con_0001/index.html): §1. Trusts, etc., in restraint of trade illegal; penalty (6,094 citing cases; source neochart)
- [15 U.S.C. § 15](https://www.neochart.com/catalog/federal/title_15/section_15/title15_sec15_21c55a14c57c/15_suits_by_persons_injured_0001/index.html): § 15. Suits by persons injured (2,849 citing cases; source neochart)
- [15 U.S.C. § 1125](https://www.neochart.com/catalog/federal/title_15/section_1125/title15_sec1125_08901a74b924/1125_false_designations_of_origin_false_descriptions_and_dil_0001/index.html): § 1125. False designations of origin, false descriptions, and dilution forbidden (5,351 citing cases; source neochart)

## Methodology

The cluster is defined by size and technology/internet-platform role, not by a single SEC SIC: AAPL is hardware/services, MSFT is software and cloud, GOOGL and META are advertising/platform businesses with cloud or metaverse segments, and AMZN combines e-commerce/logistics with AWS. Comparisons are descriptive across structurally different models. Narrative cells require company-specific grounding and may quarantine heavily. The review publishes no proprietary index-membership labels.

Pack hash: `c266ebd13d30591a9ab1b26355943ed5f2aef02e5e0a2b499a31812eec39aed9`. Generated: 2026-06-27.

## Verified Quantitative Matrix

| Metric | AAPL | MSFT | GOOGL | AMZN | META | Comparability |
| --- | --- | --- | --- | --- | --- | --- |
| Revenue | 416,161,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 281,724,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 402,836,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_REVENUE_FY2025; concept us-gaap:Revenues | 716,924,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 200,966,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; AMZN -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:Revenues; META -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Gross margin | 46.91%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_GROSS_MARGIN_FY2025; concept us-gaap:GrossProfit; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 68.82%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_GROSS_MARGIN_FY2025; concept us-gaap:GrossProfit; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 59.65%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_GROSS_MARGIN_FY2025; concept us-gaap:Revenues; us-gaap:CostOfRevenue | 50.29%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_GROSS_MARGIN_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; us-gaap:CostOfGoodsAndServicesSold | 82.00%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_GROSS_MARGIN_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; us-gaap:CostOfRevenue | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:CostOfGoodsAndServicesSold, us-gaap:CostOfRevenue, us-gaap:GrossProfit, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:GrossProfit + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; AMZN -> us-gaap:CostOfGoodsAndServicesSold + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:CostOfRevenue + us-gaap:Revenues; META -> us-gaap:CostOfRevenue + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:GrossProfit + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Operating margin | 31.97%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 45.62%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 32.03%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 11.16%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 41.44%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:OperatingIncomeLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; AMZN -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; META -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Net margin | 26.92%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 36.15%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 32.81%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 10.83%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 30.08%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:NetIncomeLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; AMZN -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:NetIncomeLoss + us-gaap:Revenues; META -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| R&D expense | 34,550,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_RESEARCH_AND_DEVELOPMENT_FY2025; concept us-gaap:ResearchAndDevelopmentExpense | 32,488,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_RESEARCH_AND_DEVELOPMENT_FY2025; concept us-gaap:ResearchAndDevelopmentExpense | 61,087,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_RESEARCH_AND_DEVELOPMENT_FY2025; concept us-gaap:ResearchAndDevelopmentExpense | Not available | 57,372,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_RESEARCH_AND_DEVELOPMENT_FY2025; concept us-gaap:ResearchAndDevelopmentExpense | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags clean |
| R&D / revenue | 8.30%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_R_AND_D_INTENSITY_FY2025; concept us-gaap:ResearchAndDevelopmentExpense; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 11.53%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_R_AND_D_INTENSITY_FY2025; concept us-gaap:ResearchAndDevelopmentExpense; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 15.16%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_R_AND_D_INTENSITY_FY2025; concept us-gaap:ResearchAndDevelopmentExpense; us-gaap:Revenues | Not available | 28.55%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_R_AND_D_INTENSITY_FY2025; concept us-gaap:ResearchAndDevelopmentExpense; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:ResearchAndDevelopmentExpense, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:ResearchAndDevelopmentExpense + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:ResearchAndDevelopmentExpense + us-gaap:Revenues; META -> us-gaap:ResearchAndDevelopmentExpense + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:ResearchAndDevelopmentExpense + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Capital expenditures | 12,715,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 64,551,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 91,447,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 131,819,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_CAPEX_FY2025; concept us-gaap:PaymentsToAcquireProductiveAssets | 69,691,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; concept mapping AAPL -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; AMZN -> us-gaap:PaymentsToAcquireProductiveAssets; GOOGL -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; META -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; MSFT -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Capex / revenue | 3.06%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_CAPEX_INTENSITY_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 22.91%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_CAPEX_INTENSITY_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 22.70%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_CAPEX_INTENSITY_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:Revenues | 18.39%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_CAPEX_INTENSITY_FY2025; concept us-gaap:PaymentsToAcquireProductiveAssets; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 34.68%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_CAPEX_INTENSITY_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; AMZN -> us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:Revenues; META -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Free cash flow | 98,767,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 71,611,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 73,266,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 7,695,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquireProductiveAssets | 46,109,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; concept mapping AAPL -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; AMZN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets; GOOGL -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; META -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; MSFT -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| FCF / revenue | 23.73%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_FCF_MARGIN_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 25.42%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_FCF_MARGIN_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 18.19%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_FCF_MARGIN_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:Revenues | 1.07%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_FCF_MARGIN_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquireProductiveAssets; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 22.94%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_FCF_MARGIN_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AAPL -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; AMZN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:Revenues; META -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; MSFT -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Stock-based compensation | 12,863,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_STOCK_BASED_COMPENSATION_FY2025; concept us-gaap:ShareBasedCompensation | 11,974,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_STOCK_BASED_COMPENSATION_FY2025; concept us-gaap:ShareBasedCompensation | 24,953,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_STOCK_BASED_COMPENSATION_FY2025; concept us-gaap:ShareBasedCompensation | 19,467,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_STOCK_BASED_COMPENSATION_FY2025; concept us-gaap:ShareBasedCompensation | 20,427,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_STOCK_BASED_COMPENSATION_FY2025; concept us-gaap:ShareBasedCompensation | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags clean |
| SBC / revenue | 3.09%; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_SBC_INTENSITY_FY2025; concept us-gaap:ShareBasedCompensation; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 4.25%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_SBC_INTENSITY_FY2025; concept us-gaap:ShareBasedCompensation; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 6.19%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_SBC_INTENSITY_FY2025; concept us-gaap:ShareBasedCompensation; us-gaap:Revenues | 2.72%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_SBC_INTENSITY_FY2025; concept us-gaap:ShareBasedCompensation; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 10.16%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_SBC_INTENSITY_FY2025; concept us-gaap:ShareBasedCompensation; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues, us-gaap:ShareBasedCompensation; concept mapping AAPL -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax + us-gaap:ShareBasedCompensation; AMZN -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax + us-gaap:ShareBasedCompensation; GOOGL -> us-gaap:Revenues + us-gaap:ShareBasedCompensation; META -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax + us-gaap:ShareBasedCompensation; MSFT -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax + us-gaap:ShareBasedCompensation |
| Share buybacks | 90,711,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 18,420,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 45,709,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 0.00; FY 2024; period end 2024-12-31; offset different fiscal year (365 days before row reference) (offset); fact NUM_AMZN_SHARE_BUYBACKS_FY2024; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 26,248,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN different fiscal year (365 days before row reference) offset, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags clean |
| Liabilities / equity leverage | 3.87; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 0.80; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 0.43; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 0.99; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Assets; us-gaap:StockholdersEquity | 0.68; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags mixed; concepts us-gaap:Assets, us-gaap:Liabilities, us-gaap:StockholdersEquity; concept mapping AAPL -> us-gaap:Liabilities + us-gaap:StockholdersEquity; AMZN -> us-gaap:Assets + us-gaap:StockholdersEquity; GOOGL -> us-gaap:Liabilities + us-gaap:StockholdersEquity; META -> us-gaap:Liabilities + us-gaap:StockholdersEquity; MSFT -> us-gaap:Liabilities + us-gaap:StockholdersEquity |
| Cash and equivalents | 35,934,000,000; FY 2025; period end 2025-09-27; offset about 3 months before row reference (-95d) (offset); fact NUM_AAPL_CASH_FY2025; concept us-gaap:CashAndCashEquivalentsAtCarryingValue | 30,242,000,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_MSFT_CASH_FY2025; concept us-gaap:CashAndCashEquivalentsAtCarryingValue | 30,708,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GOOGL_CASH_FY2025; concept us-gaap:CashAndCashEquivalentsAtCarryingValue | 86,810,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_AMZN_CASH_FY2025; concept us-gaap:CashAndCashEquivalentsAtCarryingValue | 35,873,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_META_CASH_FY2025; concept us-gaap:CashAndCashEquivalentsAtCarryingValue | period offset; reference 2025-12-31; offsets AAPL about 3 months before row reference (-95d) offset, AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned, MSFT about 6 months before row reference (-184d) offset; tags clean |

## Code-computed comparisons

- grepcent-computed capex intensity range: range endpoints are [AMZN](/company/AMZN/) (18.39%) and [META](/company/META/) (34.68%). Computed from facts NUM_AMZN_CAPEX_INTENSITY_FY2025 and NUM_META_CAPEX_INTENSITY_FY2025; comparability: period aligned; reference 2025-12-31; offsets AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned; tags mixed; concepts us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AMZN -> us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:Revenues; META -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Excluded: AAPL: period not aligned (2025-Q3 vs 2025-Q4); MSFT: period not aligned (2025-Q2 vs 2025-Q4).
- grepcent-computed FCF margin range: range endpoints are [AMZN](/company/AMZN/) (1.07%) and [META](/company/META/) (22.94%). Computed from facts NUM_AMZN_FCF_MARGIN_FY2025 and NUM_META_FCF_MARGIN_FY2025; comparability: period aligned; reference 2025-12-31; offsets AMZN 0d aligned, GOOGL 0d aligned, META 0d aligned; tags mixed; concepts us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping AMZN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GOOGL -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:Revenues; META -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Excluded: AAPL: period not aligned (2025-Q3 vs 2025-Q4); MSFT: period not aligned (2025-Q2 vs 2025-Q4).

Market-risk companion: [/compare/big-tech/risk/](/compare/big-tech/risk/).

## Gate summary

Facts: 85. Claims survived: 3. Claims dropped: 0. Cells quarantined: 27.