Amgen
AMGN stock analysis · Health Care · Biotechnology
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.
View share-count filing ↗DCF value
Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -37.2% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
6 industry peers · median 21.5×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 25.4× · 7.9% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Requires reported dividends, repurchases and issuance; missing values are not zero.
How this is calculated ↗Accrual quality
Parent-earnings fallback versus consolidated cash flow · scope limitation
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $285.44 | $311.45 | $339.41 |
| 10.0% | $209.17 | $227.58 | $247.34 |
| 12.0% | $165.02 | $179.06 | $194.12 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 36.8B | 7.7B | 10B | 1.9B | 90.6B |
| 2024-12-31 | 33.4B | 4.1B | 11.5B | 1.1B | 91.8B |
| 2023-12-31 | 28.2B | 6.7B | 8.5B | 1.1B | 97.2B |
| 2022-12-31 | 26.3B | 6.6B | 9.7B | 936M | 65.1B |
| 2021-12-31 | 26B | 5.9B | 9.3B | 880M | 61.2B |
| 2020-12-31 | 25.4B | 7.3B | 10.5B | 608M | 62.9B |
| 2019-12-31 | 23.4B | 7.8B | 9.2B | 618M | 59.7B |
| 2018-12-31 | 23.7B | 8.4B | 11.3B | 738M | 66.4B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 36.8B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-13 |
| netIncome | 7.7B | NetIncomeLoss Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-13 |
| Parent/common earnings proxy | 7.7B | NetIncomeLoss | 2026-02-13 |
| cfo | 10B | NetCashProvidedByUsedInOperatingActivities | 2026-02-13 |
| capex | 1.9B | PaymentsToAcquirePropertyPlantAndEquipment | 2026-02-13 |
| operatingIncome | 9.1B | OperatingIncomeLoss | 2026-02-13 |
| assets | 90.6B | Assets | 2026-02-13 |
| equity | 8.7B | StockholdersEquity Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-13 |
| Parent book equity proxy | 8.7B | StockholdersEquity | 2026-02-13 |
| debt | 54.6B | LongTermDebt | 2026-02-13 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 9.1B | CashAndCashEquivalentsAtCarryingValue | 2026-02-13 |
| shares | 542M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-13 |
| dividends | 5.1B | PaymentsOfDividendsCommonStock | 2026-02-13 |
| buybacks | 0 | PaymentsForRepurchaseOfCommonStock | 2026-02-13 |
| issuance | — | Not reported under a supported tag | — |