A 
Amgen AMGN · USD
Health Care · Biotechnology · US listing · 🇺🇸 United States
S&P 500Nasdaq-100Dow Jones
465.23
+1.04%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$36.74bn
FY2016FY2025
Net income
$7.71bn
FY2016FY2025
Free cash flow
$8.10bn
FY2016FY2025
Shareholders' equity
$8.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.74bn | $33.42bn | $28.19bn | $26.32bn | $25.98bn | $25.42bn | $23.36bn | $23.75bn | $22.85bn | $22.99bn |
| Gross profit | $26.01bn | $20.57bn | $19.74bn | $19.92bn | $19.52bn | $19.27bn | $19.01bn | $19.65bn | $18.78bn | $18.83bn |
| Research and development | $6.97bn | $5.96bn | $4.78bn | $4.43bn | $6.32bn | $4.21bn | $4.12bn | $3.74bn | $3.56bn | $3.84bn |
| Operating income | $11.73bn | $7.26bn | $7.90bn | $9.57bn | $7.64bn | $9.14bn | $9.67bn | $10.94bn | $9.97bn | $9.79bn |
| Net income | $7.71bn | $4.09bn | $6.72bn | $6.55bn | $5.89bn | $7.26bn | $7.84bn | $8.39bn | $1.98bn | $7.72bn |
| Diluted earnings per share | 14.20 | 7.55 | 12.44 | 12.16 | 10.43 | 12.42 | 13.11 | 13.12 | 2.73 | 10.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $90.59bn | $91.84bn | $97.15bn | $65.12bn | $61.16bn | $62.95bn | $59.71bn | $66.42bn | $79.95bn | $77.63bn |
| Cash and short-term investments | $9.13bn | $11.97bn | $10.94bn | $9.30bn | $8.04bn | $10.65bn | $8.91bn | $29.30bn | $41.68bn | $38.09bn |
| Total liabilities | $81.93bn | $85.96bn | $90.92bn | $61.46bn | $54.47bn | $53.54bn | $50.03bn | $53.92bn | $54.71bn | $47.75bn |
| Debt | $54.60bn | $60.10bn | $64.61bn | $38.95bn | $33.31bn | $32.99bn | $29.90bn | $33.93bn | $35.34bn | $34.60bn |
| Shareholders' equity | $8.66bn | $5.88bn | $6.23bn | $3.66bn | $6.70bn | $9.41bn | $9.67bn | $12.50bn | $25.24bn | $29.88bn |
| Shares outstanding | 543m | 542m | 540m | 539m | 565m | 585m | 598m | 640m | 724m | 748m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $9.96bn | $11.49bn | $8.47bn | $9.72bn | $9.26bn | $10.50bn | $9.15bn | $11.30bn | $11.18bn | $10.35bn |
| Capital spending | −$1.86bn | −$1.10bn | −$1.11bn | −$936.0m | −$880.0m | −$608.0m | −$618.0m | −$738.0m | −$664.0m | −$837.0m |
| Free cash flow | $8.10bn | $10.39bn | $7.36bn | $8.79bn | $8.38bn | $9.89bn | $8.53bn | $10.56bn | $10.51bn | $9.52bn |
| Dividends paid | −$5.12bn | −$4.83bn | −$4.56bn | −$4.20bn | −$4.01bn | −$3.75bn | −$3.51bn | −$3.51bn | −$3.37bn | −$3.00bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.05bn | $8.62bn | $9.90bn | $9.56bn | $9.17bn | $8.15bn | $9.09bn | $8.50bn |
| Gross profit | $7.24bn | $5.87bn | $8.11bn | $6.47bn | $6.16bn | $5.18bn | $5.97bn | $5.19bn |
| Operating income | $3.51bn | $2.67bn | $3.94bn | $3.21bn | $2.64bn | $1.90bn | $1.53bn | $2.82bn |
| Net income | $2.38bn | $1.82bn | $1.33bn | $3.22bn | $1.43bn | $1.73bn | $627.0m | $2.83bn |
| Diluted earnings per share | 4.37 | 3.34 | 2.45 | 5.92 | 2.64 | 3.19 | 1.16 | 5.22 |
| Cash from operations | $4.00bn | $2.19bn | $1.60bn | $4.68bn | $2.28bn | $1.39bn | $4.77bn | $3.57bn |
| Capital spending | −$513.0m | −$712.0m | −$642.0m | −$436.0m | −$369.0m | −$411.0m | −$371.0m | −$257.0m |
| Free cash flow | $3.49bn | $1.48bn | $961.0m | $4.25bn | $1.91bn | $980.0m | $4.40bn | $3.31bn |
| Total assets | $95.64bn | $92.50bn | $90.59bn | $90.14bn | $87.90bn | $89.37bn | $91.84bn | $90.88bn |
| Cash and short-term investments | $13.99bn | $12.04bn | $9.13bn | $9.45bn | $8.03bn | $8.81bn | $11.97bn | $9.01bn |
| Debt | $57.30bn | $57.32bn | $54.60bn | $54.59bn | $56.20bn | $57.38bn | $60.10bn | $60.40bn |
| Shareholders' equity | $11.69bn | $9.19bn | $8.66bn | $9.62bn | $7.43bn | $6.21bn | $5.88bn | $7.53bn |
Financial ratios
Data as of 5 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 70.8% | 61.5% | 70.0% | 75.7% | 75.2% | 75.8% |
| Operating margin | 31.9% | 21.7% | 28.0% | 36.3% | 29.4% | 35.9% |
| Net margin | 21.0% | 12.2% | 23.8% | 24.9% | 22.7% | 28.6% |
| Return on equity | 89.1% | 69.6% | 107.8% | 179.0% | 88.0% | 77.2% |
| Return on assets | 8.5% | 4.5% | 6.9% | 10.1% | 9.6% | 11.5% |
| Free cash flow yield | 5.0% | 5.3% | 4.1% | 4.5% | 4.1% | 4.3% |
| Revenue growth | 9.9% | 18.6% | 7.1% | 1.3% | 2.2% | 8.8% |
| Earnings growth | 88.5% | -39.1% | 2.5% | 11.2% | -18.9% | -7.4% |
| Current ratio | 1.14x | 1.26x | 1.65x | 1.41x | 1.59x | 1.81x |
| Debt to equity | 6.31x | 10.23x | 10.37x | 10.64x | 4.97x | 3.51x |
| Equity ratio | 9.6% | 6.4% | 6.4% | 5.6% | 11.0% | 14.9% |
| Interest coverage | 4.26x | 2.30x | 2.75x | 6.80x | 6.38x | 7.24x |
| R&D as a share of sales | 19.0% | 17.8% | 17.0% | 16.8% | 24.3% | 16.5% |
| Buybacks as a share of market value | -0.2% | -0.4% | -0.2% | 4.6% | 3.4% | 2.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.8% | 7.6% | 5.4% |
| Operating income | 7.0% | 5.1% | 3.3% |
| Net income | 5.6% | 1.2% | 1.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 66.4% | 69.2% | 71.0% | 75.2% |
| Operating margin | 27.1% | 29.2% | 30.2% | 35.1% |
| Net margin | 16.8% | 20.1% | 21.7% | 24.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.1 | 34.5 | 23.1 | 21.6 | 21.6 | 18.5 | 18.4 | 14.8 | 63.6 | 14.2 |
| Price to sales | 4.8 | 4.2 | 5.5 | 5.4 | 4.9 | 5.3 | 6.2 | 5.3 | 5.5 | 4.8 |
Market value over time
31 Oct 2016 to 4 Sept 2026, in USD
$106.29bn$237.85bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 25% | -7% | 5% | 21% | -3% | -6% | 31% | 4% | 20% | -7% |
Dividends and splits
Per share, in the currency the company pays
Paid for 15 years. Last went ex-dividend on 20 Nov 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 7.56 | 9.66 | 9.13 | 8.64 | 7.95 | 7.22 | 6.56 | 5.95 |
- 2-for-1 split · 22 Nov 1999
- 2-for-1 split · 1 Mar 1999
- 2-for-1 split · 16 Aug 1995
- 3-for-1 split · 11 Sept 1991
- 2-for-1 split · 13 Aug 1990
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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