AMGN Amgen

XNGS Up Alert

Health Care

· How we analyze

About the company

Amgen is a biotechnology company from California. It develops medicines for bone loss, cancer, cardiovascular disease, inflammation and rare diseases, such as Prolia, Repatha and Enbrel. Rare diseases were added through the acquisition of Horizon. As of Oct 13, 2026

Fact sheet (from the annual report) Biotechnology and vaccines · Thousand Oaks, USA

The company researches, develops, manufactures and delivers medicines and operates in a single segment for human therapeutics. Its products include Prolia for osteoporosis, Repatha for lipid disorders and Otezla for psoriasis. In the US market, almost all deliveries go to pharmaceutical wholesalers, including McKesson, Cencora and Cardinal Health. Outside that market, sales go mainly to healthcare providers or wholesalers, depending on the country. In the Asia-Pacific region the group also markets products with partners such as Astellas and Takeda. In January 2026 the FDA asked the subsidiary ChemoCentryx to voluntarily withdraw TAVNEOS from the US market, which the group declined.

Automatically summarized from SEC annual report (10-K, filed Feb 13, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026

What the methods say about Amgen

Calculated automatically by fixed rules – not investment advice, check for yourself. How we analyze

Price performance at a glance

Last 30 trading days
  • Today +1.2%
  • 7 days +4.6%
  • 30 days +7.2%
  • 1 year +52.4%
Day range (last trading day)
−1.2%Price at 50% of the range+1.2%
52-week range
−35.2%Price at 96% of the range+1.4%
Distance from the all-time high
−1.4%

Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

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Symbol on TradingView: NASDAQ:AMGN

Fundamental analysis

Amgen · Sector Health Care · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 13, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Dec 31, 2025

Quality Profitability, consistency, balance sheet 7 of 8 criteria met Growth Revenue and earnings per share 6 of 7 criteria met Dividend Level, consistency, coverage 6 of 7 criteria met Financial strength Piotroski, debt, liquidity 5 of 6 criteria met

Quality 7 of 8 met

  • met: Gross margin above 40% 67.2%
  • met: Operating margin above 15% 24.7%
  • met: Net margin above 10% 21.0%
  • met: Return on equity above 15% 89.1%
  • met: Free cash flow margin above 10% 22.0%
  • met: Profit in each of the last 5 fiscal years 5 of 5
  • met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
  • not met: Equity ratio above 30% 9.6%
Gross margin

67.2% Fiscal year 2025

Rank 75 of 100: higher than 75% of 153 peers (All). strong.

Rank 53 of 100: higher than 53% of 20 peers (Sector). medium.

Median Health Care: 66.6%

Share of revenue left after the direct cost of the products sold.

Operating margin

24.7% Fiscal year 2025

Rank 67 of 100: higher than 67% of 192 peers (All). strong.

Rank 73 of 100: higher than 73% of 20 peers (Sector). strong.

Median Health Care: 18.0%

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

21.0% Fiscal year 2025

Rank 70 of 100: higher than 70% of 237 peers (All). strong.

Rank 67 of 100: higher than 67% of 26 peers (Sector). strong.

Median Health Care: 13.9%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

89.1% Fiscal year 2025

Rank 96 of 100: higher than 96% of 218 peers (All). strong.

Rank 98 of 100: higher than 98% of 21 peers (Sector). strong.

Median Health Care: 14.3%

Net income divided by equity at fiscal year end.

Return on assets

8.5% Fiscal year 2025 (total assets at year end)

Rank 65 of 100: higher than 65% of 238 peers (All). medium.

Rank 63 of 100: higher than 63% of 26 peers (Sector). medium.

Median Health Care: 6.4%

Net income divided by total assets at fiscal year end.

Equity ratio

9.6% Fiscal year 2025

Rank 14 of 100: higher than 14% of 239 peers (All). weak.

Rank 21 of 100: higher than 21% of 26 peers (Sector). weak.

Median Health Care: 38.5%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

22.0% Fiscal year 2025

Rank 73 of 100: higher than 73% of 213 peers (All). strong.

Rank 74 of 100: higher than 74% of 25 peers (Sector). strong.

Median Health Care: 14.9%

Free cash flow divided by revenue.

Free cash flow

8.1B USD Fiscal year 2025

Operating cash flow minus capital expenditure on property and equipment.

Growth 6 of 7 met

  • met: Over 3 years, revenue grew by more than 5% per year +11.8%
  • met: Over 5 years, revenue grew by more than 5% per year +7.6%
  • met: Over 10 years, revenue grew by more than 5% per year +5.4%
  • met: Over 3 years, EPS grew by more than 5% per year +5.5%
  • not met: Over 5 years, EPS grew by more than 5% per year +2.9%
  • met: Revenue rose in at least 4 of the last 5 fiscal years 5 of 5
  • met: Revenue rose in the last fiscal year +10.0%
Revenue growth 3 years

+11.8% per year

Rank 63 of 100: higher than 63% of 230 peers (All). medium.

Rank 78 of 100: higher than 78% of 25 peers (Sector). strong.

Median Health Care: +5.6%

Average growth per year over 3 fiscal years.

Revenue growth 5 years

+7.6% per year

Rank 31 of 100: higher than 31% of 217 peers (All). weak.

Rank 38 of 100: higher than 38% of 25 peers (Sector). medium.

Median Health Care: +8.5%

Average growth per year over 5 fiscal years.

Revenue growth 10 years

+5.4% per year

Rank 39 of 100: higher than 39% of 157 peers (All). medium.

Rank 18 of 100: higher than 18% of 19 peers (Sector). weak.

Median Health Care: +10.1%

Average growth per year over 10 fiscal years.

EPS growth 3 years

+5.5% per year

Rank 33 of 100: higher than 33% of 157 peers (All). medium.

Rank 52 of 100: higher than 52% of 22 peers (Sector). medium.

Median Health Care: +5.5%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 5 years

+2.9% per year

Rank 17 of 100: higher than 17% of 146 peers (All). weak.

Rank 38 of 100: higher than 38% of 20 peers (Sector). medium.

Median Health Care: +7.0%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 10 years

+4.6% per year

Rank 25 of 100: higher than 25% of 140 peers (All). weak.

Rank 38 of 100: higher than 38% of 20 peers (Sector). medium.

Median Health Care: +8.3%

Growth of earnings per share per year, adjusted for stock splits.

Dividend 6 of 7 met

  • met: Pays a dividend 9.66 USD
  • not met: Payout ratio at most 60% of earnings 68%
  • met: Dividend paid in each of the last 5 fiscal years 5 of 5
  • met: Dividend per share never lowered in the last 5 fiscal years Dividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut. never
  • met: Dividend per share higher than 5 years ago +8.0%
  • met: Free cash flow per share covers the dividend 1.5x
  • met: Dividends paid over the last 5 years covered by free cash flow 53% of free cash flow
Payout ratio

68% Fiscal year 2025

Dividend per share divided by earnings per share.

Dividend growth 5 years

+8.0% per year

Rank 45 of 100: higher than 45% of 118 peers (All). medium.

Rank 53 of 100: higher than 53% of 16 peers (Sector). medium.

Median Health Care: +7.8%

Growth of the dividend per share per year.

Free cash flow coverage

1.5x Fiscal year 2025

Free cash flow per share divided by dividend per share. From 1x the dividend is covered.

Financial strength 5 of 6 met

  • met: Piotroski F-Score at least 7 of 9 7 of 9
  • not met: Long-term debt no higher than equity 6.31
  • met: Current assets cover current liabilities 1.14
  • met: Positive equity 8.7B USD
  • met: In 5 years, share count up by at most 5% −8.1%
  • met: Free cash flow positive in the last fiscal year 8.1B USD
Piotroski F-Score

7 of 9 Fiscal year 2025

Rank 72 of 100: higher than 72% of 134 peers (All). strong.

Rank 63 of 100: higher than 63% of 19 peers (Sector). medium.

Median Health Care: 7.0 of 9

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Debt / equity

6.31 at fiscal year end

Rank 3 of 100: lower than 3% of 199 peers (All). weak.

Rank 3 of 100: lower than 3% of 18 peers (Sector). weak.

Median Health Care: 0.72

Long-term financial debt divided by equity.

Liquidity (current ratio)

1.14 at fiscal year end

Rank 36 of 100: higher than 36% of 215 peers (All). medium.

Rank 29 of 100: higher than 29% of 26 peers (Sector). weak.

Median Health Care: 1.56

Current assets divided by current liabilities.

Change in share count

−8.1% in 5 years

Rank 75 of 100: lower than 75% of 199 peers (All). strong.

Rank 73 of 100: lower than 73% of 24 peers (Sector). strong.

Median Health Care: −2.7%

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • met: Profit in the last fiscal year (positive return on assets)
  • met: Positive operating cash flow
  • met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • met: Long-term debt relative to total assets fell
  • not met: Liquidity (current assets / current liabilities) rose
  • not met: No additional shares (diluted share count did not rise)
  • met: Gross margin higher than the prior year
  • met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light yellow: Revenue grew over 5 years (+7.6% per year), more slowly than the sector median.
  • Light yellow: Net income (total) grew over 5 years (+1.2% per year), more slowly than the sector median; per share +2.9% per year.
  • Light green: Net margin 21.0%, above the sector median (12.9%).
  • Light red: Debt much higher than usual in the sector.
  • Light green: Profit in each of the last 10 fiscal years.
  • Light yellow: High payout ratio (68% of earnings).

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 23.0B USD · Net income 7.7B USD · Net margin 33.6%
  2. Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 22.8B USD · Net income 2.0B USD · Net margin 8.7%
  3. Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 23.7B USD · Net income 8.4B USD · Net margin 35.3%
  4. Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 23.4B USD · Net income 7.8B USD · Net margin 33.6%
  5. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 25.4B USD · Net income 7.3B USD · Net margin 28.6%
  6. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 26.0B USD · Net income 5.9B USD · Net margin 22.7%
  7. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 26.3B USD · Net income 6.6B USD · Net margin 24.9%
  8. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 28.2B USD · Net income 6.7B USD · Net margin 23.8%
  9. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 33.4B USD · Net income 4.1B USD · Net margin 12.2%
  10. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 36.8B USD · Net income 7.7B USD · Net margin 21.0%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 36.8B USD · Net income 7.7B USD · Net margin 21.0%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2025

Of 100 USD of revenue, 67.2 USD gross profit, 24.7 USD operating income and 21.0 USD net income remained.

Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
ItemAmountof revenue
Revenue36.8B USD100.0%
Gross profit24.7B USD67.2%
Cost of revenue12.0B USD32.8%
Operating income9.1B USD24.7%
Research & development7.3B USD19.8%
Other operating expenses8.4B USD22.8%
Net income7.7B USD21.0%
Taxes1.3B USD3.4%
Interest & other (net)104.0M USD0.3%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

The operating margin fell in 5 years from 35.9% to 24.7%.

Gross marginOperating marginNet margin
  1. Fiscal year 2016: Gross margin 81.9% · Operating margin 42.6% · Net margin 33.6%
  2. Fiscal year 2017: Gross margin 82.2% · Operating margin 43.6% · Net margin 8.7%
  3. Fiscal year 2018: Gross margin 82.7% · Operating margin 43.2% · Net margin 35.3%
  4. Fiscal year 2019: Gross margin 81.4% · Operating margin 41.4% · Net margin 33.6%
  5. Fiscal year 2020: Gross margin 75.8% · Operating margin 35.9% · Net margin 28.6%
  6. Fiscal year 2021: Gross margin 75.2% · Operating margin 29.4% · Net margin 22.7%
  7. Fiscal year 2022: Gross margin 75.7% · Operating margin 36.3% · Net margin 24.9%
  8. Fiscal year 2023: Gross margin 70.0% · Operating margin 28.0% · Net margin 23.8%
  9. Fiscal year 2024: Gross margin 61.5% · Operating margin 21.7% · Net margin 12.2%
  10. Fiscal year 2025: Gross margin 67.2% · Operating margin 24.7% · Net margin 21.0%

Returns

Return on equity rose in 5 years from 77.2% to 89.1%.

Return on equityReturn on assets
  1. Fiscal year 2016: Return on equity 25.8% · Return on assets 9.9%
  2. Fiscal year 2017: Return on equity 7.8% · Return on assets 2.5%
  3. Fiscal year 2018: Return on equity 67.2% · Return on assets 12.6%
  4. Fiscal year 2019: Return on equity 81.1% · Return on assets 13.1%
  5. Fiscal year 2020: Return on equity 77.2% · Return on assets 11.5%
  6. Fiscal year 2021: Return on equity 88.0% · Return on assets 9.6%
  7. Fiscal year 2022: Return on equity 179.0% · Return on assets 10.1%
  8. Fiscal year 2023: Return on equity 107.8% · Return on assets 6.9%
  9. Fiscal year 2024: Return on equity 69.6% · Return on assets 4.5%
  10. Fiscal year 2025: Return on equity 89.1% · Return on assets 8.5%

Equity and long-term debt

The equity ratio fell in 5 years from 14.9% to 9.6%.

EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.
  1. Fiscal year 2016: Equity 29.9B USD · Long-term debt 34.6B USD
  2. Fiscal year 2017: Equity 25.2B USD · Long-term debt 35.3B USD
  3. Fiscal year 2018: Equity 12.5B USD · Long-term debt 33.9B USD
  4. Fiscal year 2019: Equity 9.7B USD · Long-term debt 29.9B USD
  5. Fiscal year 2020: Equity 9.4B USD · Long-term debt 33.0B USD
  6. Fiscal year 2021: Equity 6.7B USD · Long-term debt 33.3B USD
  7. Fiscal year 2022: Equity 3.7B USD · Long-term debt 38.9B USD
  8. Fiscal year 2023: Equity 6.2B USD · Long-term debt 64.6B USD
  9. Fiscal year 2024: Equity 5.9B USD · Long-term debt 60.1B USD
  10. Fiscal year 2025: Equity 8.7B USD · Long-term debt 54.6B USD

Liquidity (current ratio)

The current ratio fell in 5 years from 1.81 to 1.14.

Current ratio
  1. Fiscal year 2016: Current ratio 4.11
  2. Fiscal year 2017: Current ratio 5.49
  3. Fiscal year 2018: Current ratio 2.79
  4. Fiscal year 2019: Current ratio 1.44
  5. Fiscal year 2020: Current ratio 1.81
  6. Fiscal year 2021: Current ratio 1.59
  7. Fiscal year 2022: Current ratio 1.41
  8. Fiscal year 2023: Current ratio 1.65
  9. Fiscal year 2024: Current ratio 1.26
  10. Fiscal year 2025: Current ratio 1.14

Cash flow

Free cash flow fell in 5 years from 9.9B USD to 8.1B USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2016: Operating cash flow 10.4B USD · Capital expenditure 738.0M USD · Free cash flow 9.6B USD
  2. Fiscal year 2017: Operating cash flow 11.2B USD · Capital expenditure 664.0M USD · Free cash flow 10.5B USD
  3. Fiscal year 2018: Operating cash flow 11.3B USD · Capital expenditure 738.0M USD · Free cash flow 10.6B USD
  4. Fiscal year 2019: Operating cash flow 9.2B USD · Capital expenditure 618.0M USD · Free cash flow 8.5B USD
  5. Fiscal year 2020: Operating cash flow 10.5B USD · Capital expenditure 608.0M USD · Free cash flow 9.9B USD
  6. Fiscal year 2021: Operating cash flow 9.3B USD · Capital expenditure 880.0M USD · Free cash flow 8.4B USD
  7. Fiscal year 2022: Operating cash flow 9.7B USD · Capital expenditure 936.0M USD · Free cash flow 8.8B USD
  8. Fiscal year 2023: Operating cash flow 8.5B USD · Capital expenditure 1.1B USD · Free cash flow 7.4B USD
  9. Fiscal year 2024: Operating cash flow 11.5B USD · Capital expenditure 1.1B USD · Free cash flow 10.4B USD
  10. Fiscal year 2025: Operating cash flow 10.0B USD · Capital expenditure 1.9B USD · Free cash flow 8.1B USD

Share count

The share count fell in 5 years by 8.1% (mostly through share repurchases).

Diluted share count
  1. Fiscal year 2016: Diluted share count 754.0M
  2. Fiscal year 2017: Diluted share count 735.0M
  3. Fiscal year 2018: Diluted share count 665.0M
  4. Fiscal year 2019: Diluted share count 609.0M
  5. Fiscal year 2020: Diluted share count 590.0M
  6. Fiscal year 2021: Diluted share count 573.0M
  7. Fiscal year 2022: Diluted share count 541.0M
  8. Fiscal year 2023: Diluted share count 538.0M
  9. Fiscal year 2024: Diluted share count 541.0M
  10. Fiscal year 2025: Diluted share count 542.0M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
9.66 USD · Fiscal year 2025
Dividend growth per year
3 y +6.7%5 y +8.0%10 y –
Years without a cut
at least 10 as far as the data goes
Payout ratio
of earnings 68% of free cash flow 63%
To shareholders (5 years)
34.3B USD 34% through repurchases
Share count over 5 years
−8.1% fewer shares – each share is a larger stake

Dividend per share

The dividend per share rose in 5 years from 6.56 USD to 9.66 USD.

Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.
  1. Fiscal year 2016: Dividend per share 4.15 USD
  2. Fiscal year 2017: Dividend per share 4.77 USD
  3. Fiscal year 2018: Dividend per share 5.41 USD
  4. Fiscal year 2019: Dividend per share 5.95 USD
  5. Fiscal year 2020: Dividend per share 6.56 USD
  6. Fiscal year 2021: Dividend per share 7.22 USD
  7. Fiscal year 2022: Dividend per share 7.95 USD
  8. Fiscal year 2023: Dividend per share 8.64 USD
  9. Fiscal year 2024: Dividend per share 9.13 USD
  10. Fiscal year 2025: Dividend per share 9.66 USD

Payout ratios

The payout ratio rose in 5 years from 53.3% to 67.9%.

Payout ratio (earnings)Payout ratio (free cash flow)
  1. Fiscal year 2016: Payout ratio (earnings) 40.5% · Payout ratio (free cash flow) 31.2%
  2. Fiscal year 2017: Payout ratio (earnings) 177.3% · Payout ratio (free cash flow) 32.0%
  3. Fiscal year 2018: Payout ratio (earnings) 42.9% · Payout ratio (free cash flow) 33.2%
  4. Fiscal year 2019: Payout ratio (earnings) 46.2% · Payout ratio (free cash flow) 41.1%
  5. Fiscal year 2020: Payout ratio (earnings) 53.3% · Payout ratio (free cash flow) 38.0%
  6. Fiscal year 2021: Payout ratio (earnings) 70.2% · Payout ratio (free cash flow) 47.9%
  7. Fiscal year 2022: Payout ratio (earnings) 65.6% · Payout ratio (free cash flow) 47.8%
  8. Fiscal year 2023: Payout ratio (earnings) 69.2% · Payout ratio (free cash flow) 61.9%
  9. Fiscal year 2024: Payout ratio (earnings) 120.8% · Payout ratio (free cash flow) 46.5%
  10. Fiscal year 2025: Payout ratio (earnings) 67.9% · Payout ratio (free cash flow) 63.3%

What goes back to shareholders

Over 5 years, 34.3B USD went back to shareholders, 34% of it through share repurchases. That is 80% of the free cash flow of those years.

Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD
  1. Fiscal year 2016: Dividends paid 3.0B USD · Share repurchases 3.0B USD · New shares issued (including employee plans) not available · Free cash flow 9.6B USD
  2. Fiscal year 2017: Dividends paid 3.4B USD · Share repurchases 3.2B USD · New shares issued (including employee plans) not available · Free cash flow 10.5B USD
  3. Fiscal year 2018: Dividends paid 3.5B USD · Share repurchases 17.8B USD · New shares issued (including employee plans) not available · Free cash flow 10.6B USD
  4. Fiscal year 2019: Dividends paid 3.5B USD · Share repurchases 7.7B USD · New shares issued (including employee plans) not available · Free cash flow 8.5B USD
  5. Fiscal year 2020: Dividends paid 3.8B USD · Share repurchases 3.5B USD · New shares issued (including employee plans) not available · Free cash flow 9.9B USD
  6. Fiscal year 2021: Dividends paid 4.0B USD · Share repurchases 5.0B USD · New shares issued (including employee plans) not available · Free cash flow 8.4B USD
  7. Fiscal year 2022: Dividends paid 4.2B USD · Share repurchases 6.4B USD · New shares issued (including employee plans) not available · Free cash flow 8.8B USD
  8. Fiscal year 2023: Dividends paid 4.6B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 7.4B USD
  9. Fiscal year 2024: Dividends paid 4.8B USD · Share repurchases 200.0M USD · New shares issued (including employee plans) not available · Free cash flow 10.4B USD
  10. Fiscal year 2025: Dividends paid 5.1B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 8.1B USD

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

Amgen next to 8 stocks of the sector Health Care we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison AMGN, sector Health Care; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
ABBV AbbVie 61.2B USD +6.0%70.2%24.6%6.9%–−2.4%29.1%8/9
BMY Bristol Myers Squibb 48.2B USD +2.5%71.1%–14.6%38.2%20.5%26.7%8/9
TMO Thermo Fisher Scientific 44.6B USD +6.7%–17.4%15.0%12.6%48.4%14.1%–
ABT Abbott Laboratories 44.3B USD +5.1%56.4%18.2%14.7%12.5%60.1%16.7%6/9
AMGN Amgen this stock 36.8B USD +7.6%67.2%24.7%21.0%89.1%9.6%22.0%7/9
MDT Medtronic 36.4B USD +3.8%65.0%17.8%13.2%9.7%53.2%14.9%7/9
GILD Gilead Sciences 29.4B USD +3.6%78.8%34.0%28.9%37.5%38.5%32.1%8/9
SYK Stryker Corporation 25.1B USD +11.8%64.0%19.5%12.9%14.5%46.9%17.1%6/9
DHR Danaher Corporation 24.6B USD +2.0%59.1%19.1%14.7%6.9%62.9%21.4%7/9
Median of the sector 26 symbols 44.4B USD +8.5%66.6%18.0%13.9%14.3%38.5%14.9%7/9

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 63 symbols in the Health Care sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light yellow: below sector

+7.6% per year, last 5 years

Sector Health Care: median +7.8% (60 symbols)

What does this mean? Revenue: over 5 years it grew by 7.6% per year on average, but more slowly than the median company in the sector (+7.8%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light yellow: below sector

+1.2% per year, last 5 years

Sector Health Care: median +7.5% (46 symbols)

per share: +2.9% per year (5 years, split-adjusted)

What does this mean? Total net income: over 5 years it grew by 1.2% per year on average, but more slowly than the median company in the sector (+7.5%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light green: above sector

21.0% last fiscal year

Sector Health Care: median 12.9% (63 symbols)

What does this mean? Of every 100 USD in revenue, 20.98 USD remained as profit – at least as much as the median company in the sector (12.9%). Five years ago the margin was 28.6%.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light red: much higher

4.90 latest balance sheet

Sector Health Care: median 0.66 (49 symbols)

What does this mean? For every 1 USD of equity there is 4.90 USD of financial debt – more than twice as much as the median company in the sector (0.66). More debt amplifies good and bad years alike.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light yellow: high

68% Dividend / earnings per share

Sector Health Care: median 28% (31 symbols)

What does this mean? Of every 1 USD of earnings per share, 0.68 USD went to shareholders as a dividend. Little buffer remains for weaker years. Median company in the sector: 28%.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light green: profit every year

10 of 10 fiscal years with a profit

What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
36.8B USD
Revenue vs. prior year
+10.0%
Net income (FY)
7.7B USD
Net income vs. prior year
+88.5%
EPS (FY)
14.23 USD
13F funds with a position
0 of 9
Funds vs. prior quarter
±0
Shares held vs. prior quarter
–
Fiscal year to Dec 31, 2025 · 10-K filed Feb 13, 2026 · Balance sheet Jun 30, 2026 (filed Aug 5, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 36.8B7.7B 21.0% 14.23 9.66 68%
2024Dec 31, 2024 33.4B4.1B 12.2% 7.56 9.13 121%
2023Dec 31, 2023 28.2B6.7B 23.8% 12.49 8.64 69%
2022Dec 31, 2022 26.3B6.6B 24.9% 12.11 7.95 66%
2021Dec 31, 2021 26.0B5.9B 22.7% 10.28 7.22 70%
2020Dec 31, 2020 25.4B7.3B 28.6% 12.31 6.56 53%
2019Dec 31, 2019 23.4B7.8B 33.6% 12.88 5.95 46%
2018Dec 31, 2018 23.7B8.4B 35.3% 12.62 5.41 43%
2017Dec 31, 2017 22.8B2.0B 8.7% 2.69 4.77 177%
2016Dec 31, 2016 23.0B7.7B 33.6% 10.24 4.15 41%
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q2/26Jun 30, 2026 10.1B2.4B 23.6% 4.37 – –
Q1/26Mar 31, 2026 8.6B1.8B 21.1% 3.34 2.52 75%
Q4/25*Dec 31, 2025 9.9B1.3B 13.5% – 2.38 –
Q3/25Sep 30, 2025 9.6B3.2B 33.7% 5.93 2.38 40%
Q2/25Jun 30, 2025 9.2B1.4B 15.6% 2.65 2.38 90%
Q1/25Mar 31, 2025 8.1B1.7B 21.2% 3.20 2.38 74%
Q4/24*Dec 31, 2024 9.1B627.0M 6.9% – 2.38 –
Q3/24Sep 30, 2024 8.5B2.8B 33.3% 5.22 2.25 43%
Q2/24Jun 30, 2024 8.4B746.0M 8.9% 1.38 2.25 163%
Q1/24Mar 31, 2024 7.4B−113.0M −1.5% −0.21 2.25 –
Q4/23*Dec 31, 2023 8.2B767.0M 9.4% – 2.25 –
Q3/23Sep 30, 2023 6.9B1.7B 25.1% 3.22 2.13 66%

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $00 people $4.1M3 people −$4.1M
6 months $00 people $4.5M3 people −$4.5M
12 months $00 people $29.3M6 people −$29.3M

Latest transactions

  • Aug 13, 2026 Khosla Rachna Officer Open-market sale 1,252 shares · $521.4K · SEC
  • Aug 11, 2026 Khosla Rachna Officer Open-market sale 2,000 shares · $825.1K · SEC
  • Aug 6, 2026 Miller Derek Officer Open-market sale 1,821 shares · $733.0K · SEC
  • Aug 6, 2026 Miller Derek Officer Open-market sale 2,069 shares · $832.9K · SEC
  • Aug 6, 2026 Grygiel Nancy A. Officer Open-market sale 1,000 shares · $402.2K · SEC
  • Aug 6, 2026 Grygiel Nancy A. Officer Open-market sale 1,970 shares · $792.3K · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score +80

Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+15
Highs and lows+0
Relative strength+15

Volatility and trend strength

ADX 14 (trend strength)27.8
Rel. strength 60 d+12.7%

ATR and moving averages as price values only when logged in.

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