AMGEN INC (AMGN) Stock Fundamental Analysis

NASDAQ:AMGN • US0311621009

375.615 USD
+0.12 (+0.03%)
Last: Feb 20, 2026, 11:14 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Taking everything into account, AMGN scores 5 out of 10 in our fundamental rating. AMGN was compared to 521 industry peers in the Biotechnology industry. While AMGN has a great profitability rating, there are quite some concerns on its financial health. AMGN has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • AMGN had positive earnings in the past year.
  • In the past year AMGN had a positive cash flow from operations.
  • Each year in the past 5 years AMGN has been profitable.
  • Each year in the past 5 years AMGN had a positive operating cash flow.
AMGN Yearly Net Income VS EBIT VS OCF VS FCFAMGN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

1.2 Ratios

  • AMGN's Return On Assets of 8.51% is amongst the best of the industry. AMGN outperforms 93.09% of its industry peers.
  • Looking at the Return On Equity, with a value of 89.06%, AMGN belongs to the top of the industry, outperforming 99.23% of the companies in the same industry.
  • The Return On Invested Capital of AMGN (16.85%) is better than 96.55% of its industry peers.
  • AMGN had an Average Return On Invested Capital over the past 3 years of 14.35%. This is below the industry average of 18.69%.
  • The last Return On Invested Capital (16.85%) for AMGN is above the 3 year average (14.35%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 8.51%
ROE 89.06%
ROIC 16.85%
ROA(3y)6.63%
ROA(5y)7.92%
ROE(3y)88.81%
ROE(5y)106.67%
ROIC(3y)14.35%
ROIC(5y)15.45%
AMGN Yearly ROA, ROE, ROICAMGN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50 100 150

1.3 Margins

  • With an excellent Profit Margin value of 20.98%, AMGN belongs to the best of the industry, outperforming 94.05% of the companies in the same industry.
  • AMGN's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 34.19%, AMGN belongs to the top of the industry, outperforming 97.50% of the companies in the same industry.
  • AMGN's Operating Margin has improved in the last couple of years.
  • AMGN has a Gross Margin of 73.30%. This is amongst the best in the industry. AMGN outperforms 83.11% of its industry peers.
  • AMGN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 34.19%
PM (TTM) 20.98%
GM 73.3%
OM growth 3Y4.6%
OM growth 5Y4.15%
PM growth 3Y-5.54%
PM growth 5Y-5.99%
GM growth 3Y2.93%
GM growth 5Y1.72%
AMGN Yearly Profit, Operating, Gross MarginsAMGN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • AMGN has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • AMGN has more shares outstanding than it did 1 year ago.
  • AMGN has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for AMGN has been reduced compared to a year ago.
AMGN Yearly Shares OutstandingAMGN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
AMGN Yearly Total Debt VS Total AssetsAMGN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B

2.2 Solvency

  • The Debt to FCF ratio of AMGN is 6.74, which is on the high side as it means it would take AMGN, 6.74 years of fcf income to pay off all of its debts.
  • AMGN has a better Debt to FCF ratio (6.74) than 91.36% of its industry peers.
  • AMGN has a Debt/Equity ratio of 5.78. This is a high value indicating a heavy dependency on external financing.
  • AMGN has a worse Debt to Equity ratio (5.78) than 81.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.78
Debt/FCF 6.74
Altman-Z N/A
ROIC/WACC1.99
WACC8.49%
AMGN Yearly LT Debt VS Equity VS FCFAMGN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.3 Liquidity

  • AMGN has a Current Ratio of 1.14. This is a normal value and indicates that AMGN is financially healthy and should not expect problems in meeting its short term obligations.
  • AMGN's Current ratio of 1.14 is on the low side compared to the rest of the industry. AMGN is outperformed by 84.45% of its industry peers.
  • AMGN has a Quick Ratio of 1.14. This is a bad value and indicates that AMGN is not financially healthy enough and could expect problems in meeting its short term obligations.
  • AMGN's Quick ratio of 0.90 is on the low side compared to the rest of the industry. AMGN is outperformed by 85.99% of its industry peers.
Industry RankSector Rank
Current Ratio 1.14
Quick Ratio 0.9
AMGN Yearly Current Assets VS Current LiabilitesAMGN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 10.24% over the past year.
  • AMGN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.65% yearly.
  • Looking at the last year, AMGN shows a quite strong growth in Revenue. The Revenue has grown by 9.95% in the last year.
  • The Revenue has been growing slightly by 7.65% on average over the past years.
EPS 1Y (TTM)10.24%
EPS 3Y7.29%
EPS 5Y5.65%
EPS Q2Q%-0.38%
Revenue 1Y (TTM)9.95%
Revenue growth 3Y11.77%
Revenue growth 5Y7.65%
Sales Q2Q%8.58%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.94% on average over the next years.
  • Based on estimates for the next years, AMGN will show a small growth in Revenue. The Revenue will grow by 3.16% on average per year.
EPS Next Y3.12%
EPS Next 2Y3.35%
EPS Next 3Y2.5%
EPS Next 5Y4.94%
Revenue Next Year2.04%
Revenue Next 2Y2.46%
Revenue Next 3Y1.68%
Revenue Next 5Y3.16%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AMGN Yearly Revenue VS EstimatesAMGN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10B 20B 30B 40B
AMGN Yearly EPS VS EstimatesAMGN Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10 20 30

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 17.19, the valuation of AMGN can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of AMGN indicates a rather cheap valuation: AMGN is cheaper than 95.78% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.09. AMGN is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 16.67 indicates a correct valuation of AMGN.
  • 95.20% of the companies in the same industry are more expensive than AMGN, based on the Price/Forward Earnings ratio.
  • AMGN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.98, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.19
Fwd PE 16.67
AMGN Price Earnings VS Forward Price EarningsAMGN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, AMGN is valued cheaply inside the industry as 94.82% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 24.97
EV/EBITDA N/A
AMGN Per share dataAMGN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 -40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of AMGN may justify a higher PE ratio.
PEG (NY)5.5
PEG (5Y)3.04
EPS Next 2Y3.35%
EPS Next 3Y2.5%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.62%, AMGN has a reasonable but not impressive dividend return.
  • AMGN's Dividend Yield is rather good when compared to the industry average which is at 1.17. AMGN pays more dividend than 98.85% of the companies in the same industry.
  • AMGN's Dividend Yield is a higher than the S&P500 average which is at 1.85.
Industry RankSector Rank
Dividend Yield 2.62%

5.2 History

  • On average, the dividend of AMGN grows each year by 9.41%, which is quite nice.
  • AMGN has paid a dividend for at least 10 years, which is a reliable track record.
  • AMGN has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.41%
Div Incr Years13
Div Non Decr Years13
AMGN Yearly Dividends per shareAMGN Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8

5.3 Sustainability

  • AMGN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP0%
EPS Next 2Y3.35%
EPS Next 3Y2.5%
AMGN Yearly Income VS Free CF VS DividendAMGN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

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AMGEN INC

NASDAQ:AMGN (2/20/2026, 11:14:03 AM)

375.615

+0.12 (+0.03%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-03
Earnings (Next)04-29
Inst Owners83.87%
Inst Owner Change0.6%
Ins Owners0.06%
Ins Owner Change-0.95%
Market Cap202.26B
Revenue(TTM)36.75B
Net Income(TTM)7.71B
Analysts71.71
Price Target341.81 (-9%)
Short Float %2.47%
Short Ratio4.48
Dividend
Industry RankSector Rank
Dividend Yield 2.62%
Yearly Dividend9.01
Dividend Growth(5Y)9.41%
DP0%
Div Incr Years13
Div Non Decr Years13
Ex-Date02-13
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)9.92%
Min EPS beat(2)9.56%
Max EPS beat(2)10.28%
EPS beat(4)4
Avg EPS beat(4)10.8%
Min EPS beat(4)9.56%
Max EPS beat(4)11.73%
EPS beat(8)7
Avg EPS beat(8)6.29%
EPS beat(12)11
Avg EPS beat(12)5.41%
EPS beat(16)14
Avg EPS beat(16)4.51%
Revenue beat(2)2
Avg Revenue beat(2)3.3%
Min Revenue beat(2)2.11%
Max Revenue beat(2)4.49%
Revenue beat(4)3
Avg Revenue beat(4)1.61%
Min Revenue beat(4)-0.84%
Max Revenue beat(4)4.49%
Revenue beat(8)4
Avg Revenue beat(8)0.19%
Revenue beat(12)5
Avg Revenue beat(12)-0.22%
Revenue beat(16)6
Avg Revenue beat(16)-0.27%
PT rev (1m)2.13%
PT rev (3m)6.94%
EPS NQ rev (1m)-5.13%
EPS NQ rev (3m)-4.61%
EPS NY rev (1m)0.6%
EPS NY rev (3m)2.41%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)0.32%
Revenue NY rev (1m)0.37%
Revenue NY rev (3m)2.09%
Valuation
Industry RankSector Rank
PE 17.19
Fwd PE 16.67
P/S 5.5
P/FCF 24.97
P/OCF 20.31
P/B 23.36
P/tB N/A
EV/EBITDA N/A
EPS(TTM)21.85
EY5.82%
EPS(NY)22.53
Fwd EY6%
FCF(TTM)15.04
FCFY4%
OCF(TTM)18.49
OCFY4.92%
SpS68.25
BVpS16.08
TBVpS-59.98
PEG (NY)5.5
PEG (5Y)3.04
Graham Number88.91
Profitability
Industry RankSector Rank
ROA 8.51%
ROE 89.06%
ROCE 19.3%
ROIC 16.85%
ROICexc 19.6%
ROICexgc 73.08%
OM 34.19%
PM (TTM) 20.98%
GM 73.3%
FCFM 22.04%
ROA(3y)6.63%
ROA(5y)7.92%
ROE(3y)88.81%
ROE(5y)106.67%
ROIC(3y)14.35%
ROIC(5y)15.45%
ROICexc(3y)16.88%
ROICexc(5y)18.44%
ROICexgc(3y)72.7%
ROICexgc(5y)79.08%
ROCE(3y)16.43%
ROCE(5y)17.69%
ROICexgc growth 3Y-3.21%
ROICexgc growth 5Y2.03%
ROICexc growth 3Y4.63%
ROICexc growth 5Y5.17%
OM growth 3Y4.6%
OM growth 5Y4.15%
PM growth 3Y-5.54%
PM growth 5Y-5.99%
GM growth 3Y2.93%
GM growth 5Y1.72%
F-Score7
Asset Turnover0.41
Health
Industry RankSector Rank
Debt/Equity 5.78
Debt/FCF 6.74
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 5.06%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 105.05%
Current Ratio 1.14
Quick Ratio 0.9
Altman-Z N/A
F-Score7
WACC8.49%
ROIC/WACC1.99
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)4.09%
Cap/Sales(5y)3.84%
Profit Quality(3y)156.25%
Profit Quality(5y)149.01%
High Growth Momentum
Growth
EPS 1Y (TTM)10.24%
EPS 3Y7.29%
EPS 5Y5.65%
EPS Q2Q%-0.38%
EPS Next Y3.12%
EPS Next 2Y3.35%
EPS Next 3Y2.5%
EPS Next 5Y4.94%
Revenue 1Y (TTM)9.95%
Revenue growth 3Y11.77%
Revenue growth 5Y7.65%
Sales Q2Q%8.58%
Revenue Next Year2.04%
Revenue Next 2Y2.46%
Revenue Next 3Y1.68%
Revenue Next 5Y3.16%
EBIT growth 1Y73.11%
EBIT growth 3Y16.9%
EBIT growth 5Y12.12%
EBIT Next Year31.54%
EBIT Next 3Y9.81%
EBIT Next 5Y8.21%
FCF growth 1Y-22.07%
FCF growth 3Y-2.67%
FCF growth 5Y-3.91%
OCF growth 1Y-13.33%
OCF growth 3Y0.81%
OCF growth 5Y-1.05%

AMGEN INC / AMGN FAQ

Can you provide the ChartMill fundamental rating for AMGEN INC?

ChartMill assigns a fundamental rating of 5 / 10 to AMGN.


What is the valuation status of AMGEN INC (AMGN) stock?

ChartMill assigns a valuation rating of 5 / 10 to AMGEN INC (AMGN). This can be considered as Fairly Valued.


What is the profitability of AMGN stock?

AMGEN INC (AMGN) has a profitability rating of 8 / 10.


How financially healthy is AMGEN INC?

The financial health rating of AMGEN INC (AMGN) is 3 / 10.


What is the earnings growth outlook for AMGEN INC?

The Earnings per Share (EPS) of AMGEN INC (AMGN) is expected to grow by 3.12% in the next year.