Amgen

Health Care Biotechnology Thousand Oaks, California Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$36.8B
                    3y CAGR +11.8%
                    
                    P83
                    
                    +10.0%
                    
                    Net income
                    FY2025
                
$7.7B
                    Net margin +21.0%
                    
                    P80
                    
                    +88.5%
                    
                    Total assets
                    FY2025
                
$90.6B
                    ROA +8.5%
                    
                    P68
                    
                    -1.4%
                    
                    Operating cash flow
                    FY2025
                
$10.0B
                    FCF margin +22.0%
                    
                    P82
                    
                    -13.3%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 3 years

Total assets $90.6B

Total liabilities $25.5B

Shareholders equity $8.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	10.1%	13.0%	11.3%
Short Term Investments	0.0%	0.0%	0.0%
Accounts Receivable	10.6%	7.4%	7.5%
Inventory	6.9%	7.6%	9.8%
Prepaid Expenses	4.6%	3.6%	2.7%
Other Current Assets	4.6%	3.6%	2.7%
Total Current Assets	32.1%	31.6%	31.2%
Property,Plant and Equipment	8.7%	7.1%	6.1%
Goodwill	20.6%	20.3%	19.2%
Intangible Assets	24.6%	30.2%	33.6%
Other Noncurrent Assets	14.0%	10.8%	9.9%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	2.6%	2.1%	1.6%
Accrued Liabilities	20.4%	19.2%	15.8%
Current Portion of Long Term Debt	5.1%	3.9%	1.5%
Other Current Liabilities	2.6%	2.6%	2.4%
Total Current Liabilities	28.1%	25.2%	18.9%
Long Term Debt	55.2%	61.6%	65.0%
Deferred Tax Liabilities	1.5%	1.8%	2.4%
Other Noncurrent Liabilities	2.6%	2.6%	2.4%
Total Liabilities	28.1%	25.2%	18.9%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	3.6%	3.6%	3.4%
Retained Earnings	-27.7%	-30.0%	-27.3%
Accumulated Other Comprehensive Income	-0.3%	-0.1%	-0.3%
Total Stockholders Equity	9.6%	6.4%	6.4%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $36.8B

Operating income $9.1B

Net income $7.7B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	40.6%	36.4%	29.0%
Expenses Cost of Revenue	13.3%	14.0%	8.7%
Expenses Research and Development	8.0%	6.5%	4.9%
Expenses Selling,General and Administrative	7.8%	7.7%	6.4%
Expenses Depreciation and Amortization	5.7%	6.1%	4.2%
Expenses Share Based Compensation	0.5%	0.6%	0.4%
Expenses Operating Expenses	30.5%	28.5%	20.9%
Other Income Expense Operating Income	10.0%	7.9%	8.1%
Other Income Expense Interest Income	0.5%	0.6%	1.2%
Other Income Expense Interest Expense	3.0%	3.4%	3.0%
Other Income Expense Other Income/expense	2.9%	0.6%	2.9%
Other Income Expense Income Before Tax	9.9%	5.0%	8.1%
Income Tax Income Tax Expense	1.4%	0.6%	1.2%
net Income net Income	8.5%	4.5%	6.9%
net Income Comprehensive Income	8.3%	4.7%	6.9%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.6%	0.6%	0.6%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.6%	0.6%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 3 years

Operating cash flow $10.0B

Investing cash flow $-1.9B

Financing cash flow $-10.9B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	8.5%	4.5%	6.9%
Operating Activities Depreciation and Amortization	5.7%	6.1%	4.2%
Operating Activities Stock Based Compensation	0.5%	0.6%	0.4%
Operating Activities Deferred Income Taxes	-0.8%	-1.3%	-1.3%
Operating Activities Changes In Operating Assets and Liabilities	3.0%	-2.8%	1.1%
Operating Activities Other Non Cash Items	-0.2%	-0.1%	-0.2%
Operating Activities net Cash From Operating Activities	11.0%	12.5%	8.7%
Investing Activities Capital Expenditures	2.1%	1.2%	1.1%
Investing Activities Business Acquisitions	0.1%	0.0%	27.8%
Investing Activities Proceeds From Sale of Investments	0.0%	0.0%	0.6%
Investing Activities Other Investing Activities	0.0%	-0.1%	-0.2%
Investing Activities net Cash From Investing Activities	-2.1%	-1.1%	-27.0%
Financing Activities Proceeds From Debt	0.0%	0.0%	28.6%
Financing Activities Repayment of Debt	5.5%	3.9%	1.5%
Financing Activities Repurchase of Common Stock	0.0%	0.2%	0.0%
Financing Activities Dividends Paid	5.7%	5.3%	4.7%
Financing Activities Other Financing Activities	-0.1%	-0.1%	-0.1%
Financing Activities net Cash From Financing Activities	-12.0%	-10.3%	21.7%
Cash Reconciliation Effect of Exchange Rate On Cash	10.1%	13.0%	11.3%
Cash Reconciliation net Change In Cash	-3.1%	1.1%	3.4%
Cash Reconciliation Cash At Beginning of Period	10.1%	13.0%	11.3%
Cash Reconciliation Cash At End of Period	10.1%	13.0%	11.3%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+67.2%	+61.5%	+70.0%
Operating margin	+24.7%	+21.7%	+28.0%
Net margin	+21.0%	+12.2%	+23.8%
FCF margin	+22.0%	+31.1%	+26.1%
Growth
Revenue CAGR (3y)	+11.8%	+8.8%	+3.5%
Returns
ROE	+89.1%	+69.6%	+107.8%
ROA	+8.5%	+4.5%	+6.9%
ROIC	+14.4%	+11.9%	+11.3%
Liquidity
Current ratio	1.14x	1.26x	1.65x
Quick ratio	0.73x	0.81x	0.99x
Leverage
D/E	2.94x	3.93x	2.95x
Interest coverage	3.30x	2.30x	2.75x
Efficiency
Asset turnover	0.41x	0.36x	0.29x
Cash conversion cycle	+212d	+219d	+437d

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Amgen

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