AMGEN INC (AMGN) Fundamental Analysis & Valuation

NASDAQ:AMGN • US0311621009

Current stock price

349.92 USD
-1.56 (-0.44%)
At close:
349.92 USD
0 (0%)
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

  • AMGN had positive earnings in the past year.
  • AMGN had a positive operating cash flow in the past year.
  • 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 has a better Return On Assets (8.51%) than 93.04% 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.
  • AMGN's Return On Invested Capital of 16.85% is amongst the best of the industry. AMGN outperforms 96.91% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for AMGN is significantly below the industry average of 19.64%.
  • 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

  • AMGN has a Profit Margin of 20.98%. This is amongst the best in the industry. AMGN outperforms 94.00% of its industry peers.
  • In the last couple of years the Profit Margin of AMGN has declined.
  • With an excellent Operating Margin value of 34.19%, AMGN belongs to the best of the industry, outperforming 96.71% of the companies in the same industry.
  • AMGN's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 73.30%, AMGN belongs to the top of the industry, outperforming 82.59% of the companies in the same industry.
  • 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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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.
  • Compared to 1 year ago, AMGN has more shares outstanding
  • The number of shares outstanding for AMGN has been reduced compared to 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's Debt to FCF ratio of 6.74 is amongst the best of the industry. AMGN outperforms 91.10% 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.
  • The Debt to Equity ratio of AMGN (5.78) is worse than 82.20% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.78
Debt/FCF 6.74
Altman-Z N/A
ROIC/WACC2
WACC8.41%
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.
  • Looking at the Current ratio, with a value of 1.14, AMGN is doing worse than 85.49% of the companies in the same industry.
  • 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 Quick ratio of 0.90. This is amonst the worse of the industry: AMGN underperforms 86.85% 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

  • 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.
  • 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 4.89% 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 3.17% on average per year.
EPS Next Y4.46%
EPS Next 2Y4.2%
EPS Next 3Y4.06%
EPS Next 5Y4.89%
Revenue Next Year4.1%
Revenue Next 2Y3.29%
Revenue Next 3Y2.87%
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.
  • 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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6

4. AMGN Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 16.01, the valuation of AMGN can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of AMGN indicates a rather cheap valuation: AMGN is cheaper than 94.78% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 25.73, AMGN is valued a bit cheaper.
  • The Price/Forward Earnings ratio is 15.33, which indicates a correct valuation of AMGN.
  • Based on the Price/Forward Earnings ratio, AMGN is valued cheaply inside the industry as 96.13% of the companies are valued more expensively.
  • AMGN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.72.
Industry RankSector Rank
PE 16.01
Fwd PE 15.33
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 cheaper than 94.78% of the companies in the same industry.
Industry RankSector Rank
P/FCF 23.29
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.
  • The excellent profitability rating of AMGN may justify a higher PE ratio.
PEG (NY)3.59
PEG (5Y)2.83
EPS Next 2Y4.2%
EPS Next 3Y4.06%

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

6

5. AMGN Dividend Analysis

5.1 Amount

  • AMGN has a Yearly Dividend Yield of 2.74%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 1.27, 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 a higher than the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 2.74%

5.2 History

  • The dividend of AMGN is nicely growing with an annual growth rate of 9.41%!
  • 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 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

  • The dividend of AMGN is growing, but the earnings are growing slower. 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

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AMGN Fundamentals: All Metrics, Ratios and Statistics

AMGEN INC

NASDAQ:AMGN (3/19/2026, 8:00:01 PM)

After market: 349.92 0 (0%)

349.92

-1.56 (-0.44%)

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 Change6.01%
Market Cap188.63B
Revenue(TTM)36.75B
Net Income(TTM)7.71B
Analysts70.95
Price Target360.25 (2.95%)
Short Float %2.82%
Short Ratio5.48
Dividend
Industry RankSector Rank
Dividend Yield 2.74%
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)8.16%
EPS NQ rev (1m)-0.72%
EPS NQ rev (3m)-5.48%
EPS NY rev (1m)1.29%
EPS NY rev (3m)2.16%
Revenue NQ rev (1m)-0.27%
Revenue NQ rev (3m)-0.43%
Revenue NY rev (1m)2.02%
Revenue NY rev (3m)2.39%
Valuation
Industry RankSector Rank
PE 16.01
Fwd PE 15.33
P/S 5.13
P/FCF 23.29
P/OCF 18.94
P/B 21.79
P/tB N/A
EV/EBITDA N/A
EPS(TTM)21.85
EY6.24%
EPS(NY)22.82
Fwd EY6.52%
FCF(TTM)15.03
FCFY4.29%
OCF(TTM)18.47
OCFY5.28%
SpS68.17
BVpS16.06
TBVpS-59.91
PEG (NY)3.59
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
WACC8.41%
ROIC/WACC2
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 Year4.1%
Revenue Next 2Y3.29%
Revenue Next 3Y2.87%
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.