AMGN · Amgen Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $36.75B | $33.42B | $28.19B | $26.32B | $25.42B | $25.42B |
| Cost of Revenue | $12.04B | $12.86B | $8.45B | $6.41B | $6.45B | $6.16B |
| Gross Profit | $24.71B | $20.57B | $19.74B | $19.92B | $18.97B | $19.27B |
| R&D | $7.27B | $5.96B | $4.78B | $4.43B | $4.82B | $4.21B |
| SG&A | $7.05B | $7.10B | $6.18B | $5.41B | $5.37B | $5.73B |
| Total Operating Expenses | $27.67B | $26.17B | $20.29B | $16.76B | $18.34B | $16.29B |
| D&A | $5.17B | $5.59B | $4.07B | $3.42B | $3.40B | $3.60B |
| Operating Income | $9.08B | $7.26B | $7.90B | $9.57B | $7.64B | $9.14B |
| Interest Expense | $2.75B | $3.15B | $2.88B | $1.41B | $1.20B | $1.26B |
| Income Tax | $1.26B | $519.00M | $1.14B | $794.00M | $808.00M | $869.00M |
| Net Income | $7.71B | $4.09B | $6.72B | $6.55B | $5.89B | $7.26B |
| EPS - Basic | $14.33 | $7.62 | $12.56 | $12.18 | $10.34 | $12.40 |
| EPS - Diluted | $14.23 | $7.56 | $12.49 | $12.11 | $10.28 | $12.31 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.13B | $11.97B | $10.94B | $7.63B | $7.99B | $6.27B |
| Accounts Receivable | $9.57B | $6.78B | $7.27B | $5.56B | $4.89B | $4.53B |
| Inventory | $6.22B | $7.00B | $9.52B | $4.93B | $4.09B | $3.89B |
| Accounts Payable | $2.37B | $1.91B | $1.59B | $1.57B | $1.37B | $1.42B |
| Current Assets | $29.06B | $29.03B | $30.33B | $22.19B | $19.39B | $21.14B |
| Total Assets | $90.59B | $91.84B | $97.15B | $65.12B | $61.16B | $62.95B |
| Current Liabilities | $25.49B | $23.10B | $18.39B | $15.69B | $12.18B | $11.65B |
| Long-term Debt | $50.01B | $56.55B | $63.17B | $37.35B | $33.22B | $32.90B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $8.66B | $5.88B | $6.23B | $3.66B | $6.70B | $9.41B |
| Retained Earnings | ($25.11B) | ($27.59B) | ($26.55B) | ($28.62B) | ($24.60B) | ($21.41B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $9.96B | $11.49B | $8.47B | $9.72B | $9.26B | $10.50B |
| Investing Cash Flow | ($1.94B) | ($1.05B) | ($26.20B) | ($6.04B) | $733.00M | ($5.40B) |
| Financing Cash Flow | ($10.86B) | ($9.41B) | $21.05B | ($4.04B) | ($8.27B) | ($4.87B) |
| CapEx | $1.86B | $1.10B | $1.11B | $936.00M | $880.00M | $608.00M |
| Free Cash Flow | $8.10B | $10.39B | $7.36B | $8.79B | $8.38B | $9.89B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 67.2% | 61.5% | 70.0% | 75.7% | 74.6% | 75.8% |
| Operating margin | 24.7% | 21.7% | 28.0% | 36.3% | 30.0% | 35.9% |
| EBITDA margin | 38.8% | 38.4% | 42.5% | 49.3% | 43.4% | 50.1% |
| Net margin | 21.0% | 12.2% | 23.8% | 24.9% | 23.2% | 28.6% |
| Free cash flow margin | 22.0% | 31.1% | 26.1% | 33.4% | 33.0% | 38.9% |
| FCF / Net income | 1.05 | 2.54 | 1.10 | 1.34 | 1.42 | 1.36 |
| R&D / Revenue | 19.8% | 17.8% | 17.0% | 16.8% | 19.0% | 16.5% |
| SG&A / Revenue | 19.2% | 21.2% | 21.9% | 20.6% | 21.1% | 22.5% |
| Effective tax rate | 14.1% | 11.3% | 14.5% | 10.8% | 12.1% | 10.7% |
| Return on assets | 8.5% | 4.5% | 6.9% | 10.1% | 9.6% | 11.5% |
| Return on equity | 89.1% | 69.6% | 107.8% | 179.0% | 88.0% | 77.2% |
| Return on invested capital | 13.3% | 10.3% | 9.7% | 20.8% | 16.8% | 19.3% |
| Liquidity | ||||||
| Current ratio | 1.14 | 1.26 | 1.65 | 1.41 | 1.59 | 1.81 |
| Quick ratio | 0.90 | 0.95 | 1.13 | 1.10 | 1.26 | 1.48 |
| Cash ratio | 0.36 | 0.52 | 0.60 | 0.49 | 0.66 | 0.54 |
| Leverage | ||||||
| Debt / Equity | 5.78 | 9.62 | 10.14 | 10.20 | 4.96 | 3.50 |
| Debt / Assets | 0.55 | 0.62 | 0.65 | 0.57 | 0.54 | 0.52 |
| Debt / EBITDA | 3.51 | 4.40 | 5.28 | 2.88 | 3.01 | 2.58 |
| Interest coverage | 3.3x | 2.3x | 2.7x | 6.8x | 6.4x | 7.2x |
| Equity multiplier | 10.46 | 15.63 | 15.59 | 17.79 | 9.13 | 6.69 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.41 | 0.36 | 0.29 | 0.40 | 0.42 | 0.40 |
| Inventory turnover | 1.93 | 1.84 | 0.89 | 1.30 | 1.58 | 1.58 |
| Days sales outstanding | 95d | 74d | 94d | 77d | 70d | 65d |
| Days inventory outstanding | 189d | 199d | 411d | 281d | 231d | 231d |
| Days payable outstanding | 72d | 54d | 69d | 90d | 77d | 84d |
| Cash conversion cycle | 212d | 219d | 437d | 268d | 224d | 211d |
| Valuation | ||||||
| P / E | 23.0x | 34.5x | 23.1x | 21.7x | 21.9x | 18.7x |
| P / B | 20.5x | 24.0x | 24.9x | 38.8x | 19.2x | 14.4x |
| P / S | 4.8x | 4.2x | 5.5x | 5.4x | 5.1x | 5.3x |
| EV / EBITDA | 15.3x | 14.4x | 17.3x | 13.2x | 14.0x | 12.7x |
| Growth | ||||||
| Revenue growth (YoY) | 10.0% | 18.6% | 7.1% | 3.5% | 0.0% | 8.8% |
| Revenue CAGR (3y) | 11.8% | 9.5% | 3.5% | 4.1% | 2.3% | 3.6% |
| Revenue CAGR (5y) | 7.6% | 7.4% | 3.5% | 2.9% | 2.0% | 3.3% |
| Gross profit growth (YoY) | 20.2% | 4.2% | -0.9% | 5.0% | -1.5% | 1.4% |
| Operating income growth (YoY) | 25.1% | -8.1% | -17.4% | 25.2% | -16.4% | -5.5% |
| Net income growth (YoY) | 88.5% | -39.1% | 2.5% | 11.2% | -18.9% | -7.4% |
| EPS growth (YoY) | 88.2% | -39.5% | 3.1% | 17.8% | -16.5% | -4.4% |
| EPS CAGR (3y) | 5.5% | -9.7% | 0.5% | -2.0% | -6.6% | 66.0% |
| EPS CAGR (5y) | 2.9% | -10.1% | -0.2% | 35.1% | 0.1% | 6.3% |
| FCF growth (YoY) | -22.1% | 41.2% | -16.2% | 4.8% | -15.2% | 15.9% |
| FCF CAGR (5y) | -3.9% | 4.0% | -7.0% | -3.5% | -2.7% | 3.1% |
| Book value growth (YoY) | 47.3% | -5.7% | 70.2% | -45.4% | -28.8% | -2.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$62.67B totalProduct$35.15B · 56.1%
Other Products$5.44B · 8.7%
Prolia$2.98B · 4.8%
Enbrel$2.20B · 3.5%
Otezla$1.84B · 2.9%
TEPEZZA$1.76B · 2.8%
Repatha$1.66B · 2.7%
Product And Service Other$1.60B · 2.6%
EVENITY$1.60B · 2.6%
TEZSPIRE$1.48B · 2.4%
Xgeva$1.35B · 2.2%
KRYSTEXXA$1.34B · 2.1%
BLINCYTO$1.05B · 1.7%
Nplate$1.03B · 1.6%
KYPROLIS$913.00M · 1.5%
Vectibix$604.00M · 1.0%
Aranesp$416.00M · 0.7%
Be One$266.00M · 0.4%
Geographic
$36.75B totalUS$26.42B · 71.9%
Non Us$10.33B · 28.1%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing AMGEN INC against the 5 most active filers in the same SIC group.
Dividends
$9.80/share trailing 12 months · +5.8% YoY
| Ex-date | Per share |
|---|---|
| May 15, 2026 | $2.5200 |
| Feb 13, 2026 | $2.5200 |
| Nov 21, 2025 | $2.3800 |
| Aug 22, 2025 | $2.3800 |
| May 16, 2025 | $2.3800 |
| Feb 14, 2025 | $2.3800 |
| Nov 18, 2024 | $2.2500 |
| Aug 16, 2024 | $2.2500 |
| May 16, 2024 | $2.2500 |
| Feb 15, 2024 | $2.2500 |
| Nov 16, 2023 | $2.1300 |
| Aug 17, 2023 | $2.1300 |
| May 17, 2023 | $2.1300 |
| Feb 14, 2023 | $2.1300 |
| Nov 16, 2022 | $1.9400 |
| Aug 17, 2022 | $1.9400 |
| May 16, 2022 | $1.9400 |
| Feb 14, 2022 | $1.9400 |
| Nov 15, 2021 | $1.7600 |
| Aug 16, 2021 | $1.7600 |
| May 14, 2021 | $1.7600 |
| Feb 11, 2021 | $1.7600 |
| Nov 13, 2020 | $1.6000 |
| Aug 14, 2020 | $1.6000 |