Stocktoria

AMGEN INC AMGN

Nasdaq · stock · Biological Products, (No Diagnostic Substances) · website · IPO 1983-06-17 · LEI

AMGEN INC statistics & valuation

Market cap$193.4B
P / E25.1×
P / S5.3×
P / B22.3×
P / FCF23.9×
Dividend yield2.65%
Net margin21.0%
Return on equity89.1%
FCF margin22.0%
Net debt$45.5B
Net debt / EBITDA3.2×
Enterprise value USD$238.9B
EV / EBITDA16.8×
Earnings yield EBIT/EV3.8%
Return on capital13.9%
Graham number -82.8%$71.52

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($71.52); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
33.60% 8.70% 35.30% 33.60% 28.60% 22.70% 24.90% 23.80% 12.20% 21.00% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
42.60% 43.60% 43.20% 41.40% 35.90% 29.40% 36.30% 28.00% 21.70% 24.70% 2016201720182019202020212022202320242025
Return on equity (%)
25.80% 7.80% 67.20% 81.10% 77.20% 88.00% 179.00% 107.80% 69.60% 89.10% 2016201720182019202020212022202320242025
Shares outstanding
754.0M 735.0M 665.0M 609.0M 590.0M 573.0M 541.0M 538.0M 541.0M 542.0M 2016201720182019202020212022202320242025
Net debt ($)
$31.36B $31.54B $26.98B $23.87B $26.72B $25.32B $31.32B $53.67B $48.13B $45.48B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
9.90% 2.50% 12.60% 13.10% 11.50% 9.60% 10.10% 6.90% 4.50% 8.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
41.80% 46.00% 44.50% 36.50% 38.90% 32.30% 33.40% 26.10% 31.10% 22.00% 2016201720182019202020212022202320242025
Debt / equity (×)
1.16× 1.40× 2.71× 3.09× 3.51× 4.97× 10.64× 10.37× 10.23× 6.31× 2016201720182019202020212022202320242025
EPS ($)
$10.24 $2.69 $12.62 $12.88 $12.31 $10.28 $12.11 $12.49 $7.56 $14.23 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AMGEN INC trades at about 29.2× earnings — above its 10-year norm (10-year range 14.8×–69.2×, median 22.1×).

14.8× 69.2×

Shaded band = 10-year range (14.8×–69.2×); dot = today's 29.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin24.7%21.7%28.0%36.3%29.4%35.9%41.4%43.2%43.6%42.6%
Net margin21.0%12.2%23.8%24.9%22.7%28.6%33.6%35.3%8.7%33.6%
FCF margin22.0%31.1%26.1%33.4%32.3%38.9%36.5%44.5%46.0%41.8%
Return on assets8.5%4.5%6.9%10.1%9.6%11.5%13.1%12.6%2.5%9.9%
Return on equity89.1%69.6%107.8%179.0%88.0%77.2%81.1%67.2%7.8%25.8%
Debt / equity6.31×10.23×10.37×10.64×4.97×3.51×3.09×2.71×1.40×1.16×
Current ratio1.141.261.651.411.591.811.442.795.494.11

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.