AMGEN INC (AMGN) Fundamental Analysis & Valuation

NASDAQ:AMGN • US0311621009

Current stock price

353.93 USD
+5.5 (+1.58%)
At close:
348.01 USD
-5.92 (-1.67%)
Pre-Market:

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

  • AMGN had positive earnings in the past year.
  • AMGN had a positive operating cash flow in the past year.
  • In the past 5 years AMGN has always been profitable.
  • AMGN had a positive operating cash flow in each of the past 5 years.
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 93.06% of its industry peers.
  • AMGN's Return On Equity of 89.06% is amongst the best of the industry. AMGN outperforms 99.42% of its industry peers.
  • AMGN has a better Return On Invested Capital (16.85%) than 96.72% 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 18.95%.
  • 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 93.45% of the companies in the same industry.
  • AMGN's Profit Margin has declined in the last couple of years.
  • AMGN has a Operating Margin of 34.19%. This is amongst the best in the industry. AMGN outperforms 96.53% of its industry peers.
  • In the last couple of years the Operating Margin of AMGN has grown nicely.
  • The Gross Margin of AMGN (73.30%) is better than 81.89% of its industry peers.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. AMGN Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AMGN 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.
  • AMGN has a better debt/assets ratio than last year.
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 90.56% of its industry peers.
  • A Debt/Equity ratio of 5.78 is on the high side and indicates that AMGN has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 5.78, AMGN is doing worse than 81.31% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 5.78
Debt/FCF 6.74
Altman-Z N/A
ROIC/WACC1.85
WACC9.12%
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.
  • Looking at the Current ratio, with a value of 1.14, AMGN is doing worse than 84.97% of the companies in the same industry.
  • A Quick Ratio of 0.90 indicates that AMGN may have some problems paying its short term obligations.
  • AMGN has a worse Quick ratio (0.90) than 86.32% 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. 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.
  • Looking at the last year, AMGN shows a quite strong growth in Revenue. The Revenue has grown by 9.95% in the last year.
  • AMGN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.65% yearly.
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

  • Based on estimates for the next years, AMGN will show a small growth in Earnings Per Share. The EPS will grow by 4.89% on average per year.
  • AMGN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.17% yearly.
EPS Next Y4.46%
EPS Next 2Y4.2%
EPS Next 3Y4.06%
EPS Next 5Y4.89%
Revenue Next Year4.11%
Revenue Next 2Y3.28%
Revenue Next 3Y3.03%
Revenue Next 5Y3.17%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • 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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Find the best growth stocksShow best growing peers

6

4. AMGN Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 16.20, the valuation of AMGN can be described as correct.
  • AMGN's Price/Earnings ratio is rather cheap when compared to the industry. AMGN is cheaper than 94.61% of the companies in the same industry.
  • AMGN is valuated rather cheaply when we compare the Price/Earnings ratio to 25.61, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 15.51, the valuation of AMGN can be described as correct.
  • AMGN's Price/Forward Earnings ratio is rather cheap when compared to the industry. AMGN is cheaper than 95.95% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.79, AMGN is valued a bit cheaper.
Industry RankSector Rank
PE 16.2
Fwd PE 15.51
AMGN Price Earnings VS Forward Price EarningsAMGN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, AMGN is valued cheaply inside the industry as 94.41% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 23.55
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 AMGN does not grow enough to justify the current Price/Earnings ratio.
  • AMGN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)3.63
PEG (5Y)2.87
EPS Next 2Y4.2%
EPS Next 3Y4.06%

More info and screens

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 2.88%.
  • Compared to an average industry Dividend Yield of 1.30, AMGN pays a better dividend. On top of this AMGN pays more dividend than 98.65% 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 1.89.
Industry RankSector Rank
Dividend Yield 2.88%

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
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 2Y4.2%
EPS Next 3Y4.06%
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

More info and screens

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AMGN Fundamentals: All Metrics, Ratios and Statistics

AMGEN INC

NASDAQ:AMGN (3/25/2026, 8:10:25 PM)

Premarket: 348.01 -5.92 (-1.67%)

353.93

+5.5 (+1.58%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)02-03
Earnings (Next)04-29
Inst Owners85.05%
Inst Owner Change2.63%
Ins Owners0.06%
Ins Owner Change3.94%
Market Cap190.79B
Revenue(TTM)36.75B
Net Income(TTM)7.71B
Analysts70.95
Price Target360.25 (1.79%)
Short Float %2.82%
Short Ratio5.48
Dividend
Industry RankSector Rank
Dividend Yield 2.88%
Yearly Dividend9.01
Dividend Growth(5Y)9.41%
DP0%
Div Incr Years13
Div Non Decr Years13
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)5.39%
PT rev (3m)7.64%
EPS NQ rev (1m)-0.73%
EPS NQ rev (3m)-5.16%
EPS NY rev (1m)1.29%
EPS NY rev (3m)2.16%
Revenue NQ rev (1m)-0.3%
Revenue NQ rev (3m)-0.45%
Revenue NY rev (1m)2.03%
Revenue NY rev (3m)2.4%
Valuation
Industry RankSector Rank
PE 16.2
Fwd PE 15.51
P/S 5.19
P/FCF 23.55
P/OCF 19.16
P/B 22.04
P/tB N/A
EV/EBITDA N/A
EPS(TTM)21.85
EY6.17%
EPS(NY)22.82
Fwd EY6.45%
FCF(TTM)15.03
FCFY4.25%
OCF(TTM)18.47
OCFY5.22%
SpS68.17
BVpS16.06
TBVpS-59.91
PEG (NY)3.63
PEG (5Y)2.87
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
WACC9.12%
ROIC/WACC1.85
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 Y4.46%
EPS Next 2Y4.2%
EPS Next 3Y4.06%
EPS Next 5Y4.89%
Revenue 1Y (TTM)9.95%
Revenue growth 3Y11.77%
Revenue growth 5Y7.65%
Sales Q2Q%8.58%
Revenue Next Year4.11%
Revenue Next 2Y3.28%
Revenue Next 3Y3.03%
Revenue Next 5Y3.17%
EBIT growth 1Y73.11%
EBIT growth 3Y16.9%
EBIT growth 5Y12.12%
EBIT Next Year31.85%
EBIT Next 3Y9.8%
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.


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 4.46% in the next year.