AMGEN INC (AMGN) Stock Fundamental Analysis
NASDAQ:AMGN • US0311621009
374.75 USD
-0.75 (-0.2%)
At close: Feb 20, 2026
374.35 USD
-0.4 (-0.11%)
After Hours: 2/20/2026, 8:16:49 PM
We assign a fundamental rating of 5 out of 10 to AMGN. AMGN was compared to 520 industry peers in the Biotechnology industry. AMGN has an excellent profitability rating, but there are concerns on its financial health. AMGN has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
- In the past year AMGN was profitable.
- AMGN had a positive operating cash flow in the past year.
- AMGN had positive earnings in each of the past 5 years.
- Each year in the past 5 years AMGN had a positive operating cash flow.
1.2 Ratios
- With an excellent Return On Assets value of 8.51%, AMGN belongs to the best of the industry, outperforming 93.09% of the companies in the same industry.
- With an excellent Return On Equity value of 89.06%, AMGN belongs to the best of the industry, outperforming 99.23% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 16.85%, AMGN belongs to the top of the industry, outperforming 96.55% of the companies in the same industry.
- The Average Return On Invested Capital over the past 3 years for AMGN 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 Rank | Sector 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%
1.3 Margins
- AMGN's Profit Margin of 20.98% is amongst the best of the industry. AMGN outperforms 94.05% of its industry peers.
- 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.
- In the last couple of years the Operating Margin of AMGN has grown nicely.
- AMGN's Gross Margin of 73.30% is amongst the best of the industry. AMGN outperforms 83.11% of its industry peers.
- AMGN's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AMGN is creating value.
- The number of shares outstanding for AMGN has been increased compared to 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.
2.2 Solvency
- AMGN has a debt to FCF ratio of 6.74. This is a slightly negative value and a sign of low solvency as AMGN would need 6.74 years to pay back of all of its debts.
- With an excellent Debt to FCF ratio value of 6.74, AMGN belongs to the best of the industry, outperforming 91.36% of the companies in the same industry.
- AMGN has a Debt/Equity ratio of 5.78. This is a high value indicating a heavy dependency on external financing.
- Looking at the Debt to Equity ratio, with a value of 5.78, AMGN is doing worse than 81.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.78 | ||
| Debt/FCF | 6.74 | ||
| Altman-Z | N/A |
ROIC/WACC1.99
WACC8.49%
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 has a worse Quick ratio (0.90) than 85.99% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.14 | ||
| Quick Ratio | 0.9 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an nice 10.24% over the past year.
- The Earnings Per Share has been growing slightly by 5.65% on average over the past years.
- Looking at the last year, AMGN shows a quite strong growth in Revenue. The Revenue has grown by 9.95% in the last year.
- Measured over the past years, AMGN shows a small growth in Revenue. The Revenue has been growing by 7.65% on average per year.
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 4.94% yearly.
- The Revenue is expected to grow by 3.16% on average over the next years.
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.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 17.15, which indicates a rather expensive current valuation of AMGN.
- Based on the Price/Earnings ratio, AMGN is valued cheaper than 95.78% of the companies in the same industry.
- When comparing the Price/Earnings ratio of AMGN to the average of the S&P500 Index (26.99), we can say AMGN is valued slightly cheaper.
- The Price/Forward Earnings ratio is 16.63, which indicates a correct valuation of AMGN.
- Based on the Price/Forward Earnings ratio, AMGN is valued cheaply inside the industry as 95.20% of the companies are valued more expensively.
- AMGN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 28.06, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.15 | ||
| Fwd PE | 16.63 |
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 Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.91 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- AMGN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)5.49
PEG (5Y)3.04
EPS Next 2Y3.35%
EPS Next 3Y2.5%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.62%, AMGN has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 1.17, AMGN pays a better dividend. On top of this AMGN pays more dividend than 98.85% of the companies listed in the same industry.
- AMGN's Dividend Yield is a higher than the S&P500 average which is at 1.81.
| Industry Rank | Sector 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 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 Years13
Div Non Decr Years13
5.3 Sustainability
- The dividend of AMGN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP0%
EPS Next 2Y3.35%
EPS Next 3Y2.5%
374.75
-0.75 (-0.2%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-03 2026-02-03/amc
Earnings (Next)04-29 2026-04-29/amc
Inst Owners83.87%
Inst Owner Change0.6%
Ins Owners0.06%
Ins Owner Change-0.95%
Market Cap201.80B
Revenue(TTM)36.75B
Net Income(TTM)7.71B
Analysts71.71
Price Target341.81 (-8.79%)
Short Float %2.47%
Short Ratio4.48
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.62% |
Yearly Dividend9.01
Dividend Growth(5Y)9.41%
DP0%
Div Incr Years13
Div Non Decr Years13
Ex-Date02-13 2026-02-13 (2.52)
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.15 | ||
| Fwd PE | 16.63 | ||
| P/S | 5.49 | ||
| P/FCF | 24.91 | ||
| P/OCF | 20.26 | ||
| P/B | 23.31 | ||
| P/tB | N/A | ||
| EV/EBITDA | N/A |
EPS(TTM)21.85
EY5.83%
EPS(NY)22.53
Fwd EY6.01%
FCF(TTM)15.04
FCFY4.01%
OCF(TTM)18.49
OCFY4.93%
SpS68.25
BVpS16.08
TBVpS-59.98
PEG (NY)5.49
PEG (5Y)3.04
Graham Number88.91
Profitability
| Industry Rank | Sector 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 Rank | Sector 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.