AMGEN INC AMGN

Healthcare SIC 2836 - Biological Products, (No Diagnostic Substances) NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Biological Product (except Diagnostic) Manufacturing derived Nasdaq

Amgen Inc. (including its subsidiaries, referred to as "Amgen," "the Company," "we," "our" or "us") discovers, develops, manufactures and delivers innovative medicines to fight some of the world's toughest diseases. We focus on areas of high unmet medical need and leverage our expertise to strive for solutions that dramatically improve people's lives, while also reducing the social and economic burden of disease. We helped launch the biotechnology industry more than 45 years ago and have grown to be one of the world's leading independent biotechnology companies. Our robust pipeline includes potential first-in-class medicines at all stages of development. We have a presence in approximately 100 countries worldwide.

Last close 439.26 2026-10-23
Market cap $237.48B 2026-06-30 share count
52-week range 288.00 - 450.98

Valuation FY2025 figures against the last close

P/S6.5x
P/E30.9x
P/FCF29.3x
EV/EBITDA19.9x
Dividend yield2.2%
Diluted EPS14.23

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.S.
  • ROW
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 U.S., FY2025: 26.4B (71.9%) 72% U.S. ROW, FY2025: 10.3B (28.1%) 28% ROW FY2024 U.S., FY2024: 23.9B (71.4%) 71% ROW, FY2024: 9.6B (28.6%) 29% FY2023 U.S., FY2023: 19.8B (70.3%) 70% ROW, FY2023: 8.4B (29.7%) 30%
Region FY2025FY2024FY2023
U.S. $26.42B $23.86B $19.81B
ROW $10.33B $9.56B $8.38B

As the company reported it, from the “Revenues - Schedule of Disaggregation of Revenue by Product and by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $36.75B$33.42B$28.19B$26.32B$25.98B$25.42B$23.36B$23.75B$22.85B$22.99B
Cost of revenue $12.04B$12.86B$8.45B$6.41B$6.45B$6.16B$4.36B$4.10B$4.07B$4.16B
Gross profit $24.71B$20.57B$19.74B$19.92B$19.52B$19.27B$19.01B$19.65B$18.78B$18.83B
SG&A $7.05B$7.10B$6.18B$5.41B$5.37B$5.73B$5.15B$5.33B$4.87B$5.06B
Total operating expenses $27.67B$26.17B$20.29B$16.76B$18.34B$16.29B$13.69B$13.48B$12.88B$13.20B
Operating income $9.08B$7.26B$7.90B$9.57B$7.64B$9.14B$9.67B$10.26B$9.97B$9.79B
Pre-tax income $8.98B$4.61B$7.86B$7.35B$6.70B$8.13B$9.14B$9.54B$9.60B$9.16B
Income tax $1.26B$519.0M$1.14B$794.0M$808.0M$869.0M$1.30B$1.15B$7.62B$1.44B
Net income $7.71B$4.09B$6.72B$6.55B$5.89B$7.26B$7.84B$8.39B$1.98B$7.72B
EPS, basic 14.337.6212.5612.1810.3412.4012.9612.702.7110.32
EPS, diluted 14.237.5612.4912.1110.2812.3112.8812.622.6910.24
Shares, diluted (wtd. avg.) 542.0M541.0M538.0M541.0M573.0M590.0M609.0M665.0M735.0M754.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $9.13B$11.97B$10.94B$7.63B$7.99B$6.27B$6.04B$6.95B$3.80B$3.24B
Short-term investments ——$0$1.68B$48.0M$4.38B$2.87B$22.36B$37.88B—
Receivables $9.57B$6.78B$7.27B$5.56B$4.89B$4.53B$4.06B$3.58B$3.24B$3.17B
Inventory $6.22B$7.00B$9.52B$4.93B$4.09B$3.89B$3.58B$2.94B$2.83B$2.75B
Total current assets $29.06B$29.03B$30.33B$22.19B$19.39B$21.14B$18.44B$37.62B$49.48B$46.01B
Property, plant and equipment $7.91B$6.54B$5.94B$5.43B$5.18B$4.89B$4.93B$4.96B$4.99B$4.96B
Goodwill $18.68B$18.64B$18.63B$15.53B$14.89B$14.69B$14.70B$14.70B$14.76B$14.76B
Other intangibles $22.28B$27.70B$32.64B$16.08B$15.18B$16.59B$19.41B$7.44B$8.61B$10.28B
Total assets $90.59B$91.84B$97.15B$65.12B$61.16B$62.95B$59.71B$66.42B$79.95B$77.63B
Accounts payable $2.37B$1.91B$1.59B$1.57B$1.37B$1.42B$1.37B$1.21B$1.35B$917.0M
Short-term debt $4.60B$3.55B$1.44B$1.59B$87.0M$91.0M$2.95B$4.42B$1.15B$4.40B
Total current liabilities $25.49B$23.10B$18.39B$15.69B$12.18B$11.65B$12.84B$13.49B$9.02B$11.20B
Long-term debt $50.01B$56.55B$63.17B$37.35B$33.22B$32.90B$26.95B$29.51B$34.19B$30.19B
Retained earnings -$25.11B-$27.59B-$26.55B-$28.62B-$24.60B-$21.41B-$21.33B-$17.98B-$5.07B-$438.0M
Total equity $8.66B$5.88B$6.23B$3.66B$6.70B$9.41B$9.67B$12.50B$25.24B$29.88B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $9.96B$11.49B$8.47B$9.72B$9.26B$10.50B$9.15B$11.30B$11.18B$10.35B
Depreciation and amortisation $5.17B$5.59B$4.07B$3.42B$3.40B$3.60B$2.21B$1.95B$1.96B$2.10B
Stock-based compensation $494.0M$530.0M$431.0M$401.0M$341.0M$330.0M$308.0M$311.0M$329.0M$311.0M
Capital expenditure $1.86B$1.10B$1.11B$936.0M$880.0M$608.0M$618.0M$738.0M$664.0M$738.0M
Investing cash flow -$1.94B-$1.05B-$26.20B-$6.04B$733.0M-$5.40B$5.71B$14.34B-$4.02B-$8.66B
Financing cash flow -$10.86B-$9.41B$21.05B-$4.04B-$8.27B-$4.87B-$15.77B-$22.49B-$6.59B-$2.60B
Dividends paid $5.12B$4.83B$4.56B$4.20B$4.01B$3.75B$3.51B$3.51B$3.37B$3.00B
Buybacks $0$200.0M$0$6.36B$4.97B$3.49B$7.70B$17.79B$3.16B$2.96B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-145588.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 23B Gross profit, FY2016: 18.8B Net income, FY2016: 7.7B Revenue, FY2017: 22.8B Gross profit, FY2017: 18.8B Net income, FY2017: 2B Revenue, FY2018: 23.7B Gross profit, FY2018: 19.6B Net income, FY2018: 8.4B Revenue, FY2019: 23.4B Gross profit, FY2019: 19B Net income, FY2019: 7.8B Revenue, FY2020: 25.4B Gross profit, FY2020: 19.3B Net income, FY2020: 7.3B Revenue, FY2021: 26B Gross profit, FY2021: 19.5B Net income, FY2021: 5.9B Revenue, FY2022: 26.3B Gross profit, FY2022: 19.9B Net income, FY2022: 6.6B Revenue, FY2023: 28.2B Gross profit, FY2023: 19.7B Net income, FY2023: 6.7B Revenue, FY2024: 33.4B Gross profit, FY2024: 20.6B Net income, FY2024: 4.1B Revenue, FY2025: 36.8B Gross profit, FY2025: 24.7B Net income, FY2025: 7.7B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $22.99B $22.85B $23.75B $23.36B $25.42B $25.98B $26.32B $28.19B $33.42B $36.75B
Gross profit $18.83B $18.78B $19.65B $19.01B $19.27B $19.52B $19.92B $19.74B $20.57B $24.71B
Net income $7.72B $1.98B $8.39B $7.84B $7.26B $5.89B $6.55B $6.72B $4.09B $7.71B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Cybersecurity incident A cybersecurity incident the company has determined to be material. Required since December 2023. Item 1.05
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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