AMGEN INC (AMGN) Fundamental Analysis & Valuation

NASDAQ:AMGN • US0311621009

Current stock price

349.82 USD
-1.2 (-0.34%)
At close:
349.62 USD
-0.2 (-0.06%)
After Hours:

This AMGN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. AMGN Profitability Analysis

1.1 Basic Checks

  • In the past year AMGN was profitable.
  • AMGN had a positive operating cash flow in the past year.
  • Each year in the past 5 years AMGN has been profitable.
  • In the past 5 years AMGN always reported a positive cash flow from operatings.
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

  • With an excellent Return On Assets value of 8.51%, AMGN belongs to the best of the industry, outperforming 92.83% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 89.06%, AMGN belongs to the top of the industry, outperforming 99.22% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 16.85%, AMGN belongs to the best of the industry, outperforming 96.51% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for AMGN is significantly below the industry average of 27.73%.
  • The 3 year average ROIC (14.35%) for AMGN is below the current ROIC(16.85%), indicating increased profibility in the last year.
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

  • AMGN has a Profit Margin of 20.98%. This is amongst the best in the industry. AMGN outperforms 93.02% of its industry peers.
  • AMGN's Profit Margin has declined in the last couple of years.
  • With an excellent Operating Margin value of 34.19%, AMGN belongs to the best of the industry, outperforming 96.32% of the companies in the same industry.
  • In the last couple of years the Operating Margin of AMGN has grown nicely.
  • Looking at the Gross Margin, with a value of 73.30%, AMGN belongs to the top of the industry, outperforming 81.59% of the companies in the same industry.
  • In the last couple of years the Gross Margin of AMGN has grown nicely.
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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3

2. AMGN Health Analysis

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.
  • Compared to 1 year ago, AMGN has an improved debt to assets ratio.
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.
  • The Debt to FCF ratio of AMGN (6.74) is better than 90.50% 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 Debt to Equity ratio of 5.78. This is amonst the worse of the industry: AMGN underperforms 82.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.78
Debt/FCF 6.74
Altman-Z N/A
ROIC/WACC1.87
WACC9.02%
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

  • A Current Ratio of 1.14 indicates that AMGN should not have too much problems paying its short term obligations.
  • AMGN has a Current ratio of 1.14. This is amonst the worse of the industry: AMGN underperforms 85.08% of its industry peers.
  • A Quick Ratio of 0.90 indicates that AMGN may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.90, AMGN is doing worse than 86.63% of the companies in the same industry.
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. AMGN Growth Analysis

3.1 Past

  • AMGN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.24%, which is quite good.
  • AMGN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.65% yearly.
  • AMGN shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.95%.
  • 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

  • AMGN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.89% yearly.
  • The Revenue is expected to grow by 3.17% on average over the next years.
EPS Next Y4.51%
EPS Next 2Y4.28%
EPS Next 3Y4.5%
EPS Next 5Y4.89%
Revenue Next Year4.1%
Revenue Next 2Y3.29%
Revenue Next 3Y3.03%
Revenue Next 5Y3.17%

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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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6

4. AMGN Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 16.01, which indicates a correct valuation of AMGN.
  • 95.16% of the companies in the same industry are more expensive than AMGN, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of AMGN to the average of the S&P500 Index (27.18), we can say AMGN is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 15.32, AMGN is valued correctly.
  • Based on the Price/Forward Earnings ratio, AMGN is valued cheaper than 95.93% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 37.96. AMGN is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 16.01
Fwd PE 15.32
AMGN Price Earnings VS Forward Price EarningsAMGN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • AMGN's Price/Free Cash Flow ratio is rather cheap when compared to the industry. AMGN is cheaper than 94.57% of the companies in the same industry.
Industry RankSector Rank
P/FCF 23.28
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)3.55
PEG (5Y)2.83
EPS Next 2Y4.28%
EPS Next 3Y4.5%

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

7

5. AMGN Dividend Analysis

5.1 Amount

  • AMGN has a Yearly Dividend Yield of 2.83%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 0.97, AMGN pays a better dividend. On top of this AMGN pays more dividend than 98.84% of the companies listed in the same industry.
  • AMGN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.83%

5.2 History

  • On average, the dividend of AMGN grows each year by 9.41%, which is quite nice.
  • AMGN has been paying a dividend for at least 10 years, so it has a reliable track record.
  • AMGN has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)9.41%
Div Incr Years14
Div Non Decr Years14
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 2Y4.28%
EPS Next 3Y4.5%
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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AMGN Fundamentals: All Metrics, Ratios and Statistics

AMGEN INC

NASDAQ:AMGN (4/13/2026, 8:08:36 PM)

After market: 349.62 -0.2 (-0.06%)

349.82

-1.2 (-0.34%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-03
Earnings (Next)04-30
Inst Owners85.27%
Inst Owner Change0.01%
Ins Owners0.07%
Ins Owner Change3.94%
Market Cap188.58B
Revenue(TTM)36.75B
Net Income(TTM)7.71B
Analysts70.7
Price Target360.51 (3.06%)
Short Float %2.66%
Short Ratio4.96
Dividend
Industry RankSector Rank
Dividend Yield 2.83%
Yearly Dividend9.01
Dividend Growth(5Y)9.41%
DP0%
Div Incr Years14
Div Non Decr Years14
Ex-Date05-15
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)0.07%
PT rev (3m)7.72%
EPS NQ rev (1m)-1.06%
EPS NQ rev (3m)-6.15%
EPS NY rev (1m)0.05%
EPS NY rev (3m)1.95%
Revenue NQ rev (1m)-0.23%
Revenue NQ rev (3m)-0.66%
Revenue NY rev (1m)-0.01%
Revenue NY rev (3m)2.32%
Valuation
Industry RankSector Rank
PE 16.01
Fwd PE 15.32
P/S 5.13
P/FCF 23.28
P/OCF 18.94
P/B 21.78
P/tB N/A
EV/EBITDA N/A
EPS(TTM)21.85
EY6.25%
EPS(NY)22.84
Fwd EY6.53%
FCF(TTM)15.03
FCFY4.3%
OCF(TTM)18.47
OCFY5.28%
SpS68.17
BVpS16.06
TBVpS-59.91
PEG (NY)3.55
PEG (5Y)2.83
Graham Number88.86
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
WACC9.02%
ROIC/WACC1.87
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 Y4.51%
EPS Next 2Y4.28%
EPS Next 3Y4.5%
EPS Next 5Y4.89%
Revenue 1Y (TTM)9.95%
Revenue growth 3Y11.77%
Revenue growth 5Y7.65%
Sales Q2Q%8.58%
Revenue Next Year4.1%
Revenue Next 2Y3.29%
Revenue Next 3Y3.03%
Revenue Next 5Y3.17%
EBIT growth 1Y73.11%
EBIT growth 3Y16.9%
EBIT growth 5Y12.12%
EBIT Next Year31.72%
EBIT Next 3Y9.49%
EBIT Next 5Y8.55%
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 Fundamental Analysis 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 6 / 10 to AMGEN INC (AMGN). This can be considered as Fairly Valued.


How profitable is AMGEN INC (AMGN) stock?

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


What are the PE and PB ratios of AMGEN INC (AMGN) stock?

The Price/Earnings (PE) ratio for AMGEN INC (AMGN) is 16.01 and the Price/Book (PB) ratio is 21.78.


How financially healthy is AMGEN INC?

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