AMGEN INC AMGN
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 14.33 | 7.62 | 12.56 | 12.18 | 10.34 | 12.40 | 12.96 | 12.70 | 2.71 | 10.32 |
| EPS, diluted | 14.23 | 7.56 | 12.49 | 12.11 | 10.28 | 12.31 | 12.88 | 12.62 | 2.69 | 10.24 |
| Shares, diluted (wtd. avg.) | $542.0M | $541.0M | $538.0M | $541.0M | $573.0M | $590.0M | $609.0M | $665.0M | $735.0M | $754.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
Others in SIC 2836
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| GILD | GILEAD SCIENCES, INC. | $187.23B | 22.3x | 2.4% |
| MRNA | Moderna, Inc. | $58.11B | — | -39.9% |
| RVMD | Revolution Medicines, Inc. | $45.01B | — | — |
| BIIB | BIOGEN INC. | $32.60B | 25.1x | 2.2% |
| SCNI | Scinai Immunotherapeutics Ltd. | $25.80B | — | 99.2% |
| NBIX | NEUROCRINE BIOSCIENCES INC | $15.82B | 33.3x | 21.4% |
| EXEL | EXELIXIS, INC. | $14.62B | 21.2x | 7.0% |
| HALO | HALOZYME THERAPEUTICS, INC. | $12.51B | 43.0x | 37.6% |