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 revenue.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 10 years

Total assets $90.6B

Total liabilities $25.5B

Shareholders equity $8.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	24.8%	35.8%	38.8%	29.0%	30.8%	24.6%	25.8%	29.2%	16.6%	14.1%
Short Term Investments	0.0%	0.0%	0.0%	6.4%	0.2%	17.2%	12.3%	94.2%	165.8%	151.6%
Accounts Receivable	26.0%	20.3%	25.8%	21.1%	18.8%	17.8%	17.4%	15.1%	14.2%	13.8%
Inventory	16.9%	20.9%	33.8%	18.7%	15.7%	15.3%	15.3%	12.4%	12.4%	11.9%
Prepaid Expenses	11.2%	9.8%	9.2%	9.1%	9.1%	8.2%	8.1%	7.6%	7.6%	8.8%
Other Current Assets	11.2%	9.8%	9.2%	9.1%	9.1%	8.2%	8.1%	7.6%	7.6%	8.8%
Total Current Assets	79.1%	86.9%	107.6%	84.3%	74.6%	83.2%	78.9%	158.4%	216.5%	200.1%
Property,Plant and Equipment	21.5%	19.6%	21.1%	20.6%	20.0%	19.2%	21.1%	20.9%	21.8%	21.6%
Goodwill	50.8%	55.8%	66.1%	59.0%	57.3%	57.8%	62.9%	61.9%	64.6%	64.2%
Intangible Assets	60.6%	82.9%	115.8%	61.1%	58.4%	65.2%	83.1%	31.3%	37.7%	44.7%
Other Noncurrent Assets	34.4%	29.7%	34.1%	22.4%	25.1%	22.2%	9.5%	7.2%	9.3%	7.1%
Total Assets	246.5%	274.8%	344.6%	247.4%	235.4%	247.6%	255.6%	279.7%	349.9%	337.6%
Liabilities
Accounts Payable	6.4%	5.7%	5.6%	6.0%	5.3%	5.6%	5.9%	5.1%	5.9%	4.0%
Accrued Liabilities	50.4%	52.8%	54.5%	47.6%	41.3%	39.9%	36.4%	33.1%	28.5%	25.6%
Current Portion of Long Term Debt	12.5%	10.6%	5.1%	6.0%	0.3%	0.4%	12.6%	18.6%	5.0%	19.2%
Other Current Liabilities	6.5%	7.0%	8.3%	10.1%	9.5%	8.0%	6.9%	5.4%	5.4%	6.5%
Total Current Liabilities	69.4%	69.1%	65.2%	59.6%	46.9%	45.8%	54.9%	56.8%	39.5%	48.7%
Long Term Debt	136.1%	169.2%	224.1%	141.9%	127.9%	129.4%	115.4%	124.3%	149.6%	131.3%
Deferred Tax Liabilities	3.7%	4.8%	8.4%	7.1%	5.6%	6.0%	7.6%	8.3%	9.5%	16.5%
Other Noncurrent Liabilities	6.5%	7.0%	8.3%	10.1%	9.5%	8.0%	6.9%	5.4%	5.4%	6.5%
Total Liabilities	69.4%	69.1%	65.2%	59.6%	46.9%	45.8%	54.9%	56.8%	39.5%	48.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	8.9%	9.8%	11.7%	12.5%	12.7%	13.1%	14.3%	14.2%	15.2%	15.2%
Retained Earnings	-68.3%	-82.5%	-94.2%	-108.7%	-94.7%	-84.2%	-91.3%	-75.7%	-22.2%	-1.9%
Accumulated Other Comprehensive Income	-0.7%	-0.2%	-1.0%	-0.9%	-3.1%	-3.9%	-2.3%	-3.2%	-3.0%	-2.0%
Total Stockholders Equity	23.6%	17.6%	22.1%	13.9%	25.8%	37.0%	41.4%	52.6%	110.5%	129.9%
Total Liabilitiesand Equity	246.5%	274.8%	344.6%	247.4%	235.4%	247.6%	255.6%	279.7%	349.9%	337.6%

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $36.8B

Operating income $9.1B

Net income $7.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	32.8%	38.5%	30.0%	24.3%	24.8%	24.2%	18.6%	17.3%	17.8%	18.1%
Expenses Research and Development	19.8%	17.8%	17.0%	16.8%	18.5%	16.5%	17.6%	15.7%	15.6%	16.7%
Expenses Selling,General and Administrative	19.2%	21.2%	21.9%	20.6%	20.7%	22.5%	22.0%	22.5%	21.3%	22.0%
Expenses Depreciation and Amortization	14.1%	16.7%	14.4%	13.0%	13.1%	14.2%	9.4%	8.2%	8.6%	9.2%
Expenses Share Based Compensation	1.3%	1.6%	1.5%	1.5%	1.3%	1.3%	1.3%	1.3%	1.4%	1.4%
Expenses Operating Expenses	75.3%	78.3%	72.0%	63.7%	70.6%	64.1%	58.6%	56.8%	56.4%	57.4%
Other Income Expense Operating Income	24.7%	21.7%	28.0%	36.3%	29.4%	35.9%	41.4%	43.2%	43.6%	42.6%
Other Income Expense Interest Income	1.1%	1.5%	4.3%	0.5%	0.0%	—	—	—	—	—
Other Income Expense Interest Expense	7.5%	9.4%	10.2%	5.3%	4.6%	5.0%	5.5%	5.9%	5.7%	5.5%
Other Income Expense Other Income/expense	7.2%	1.5%	10.0%	-3.1%	1.0%	1.0%	3.2%	2.8%	4.1%	2.7%
Other Income Expense Income Before Tax	24.4%	13.8%	27.9%	27.9%	25.8%	32.0%	39.1%	40.2%	42.0%	39.9%
Income Tax Income Tax Expense	3.4%	1.6%	4.0%	3.0%	3.1%	3.4%	5.5%	4.8%	33.3%	6.3%
net Income net Income	21.0%	12.2%	23.8%	24.9%	22.7%	28.6%	33.6%	35.3%	8.7%	33.6%
net Income Comprehensive Income	20.5%	12.9%	23.6%	27.0%	23.4%	26.8%	34.6%	35.0%	7.8%	33.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.5%	1.6%	1.9%	2.0%	2.2%	2.3%	2.6%	2.8%	3.2%	3.3%
Earnings Per Share Weighted Average Shares Diluted	1.5%	1.6%	1.9%	2.1%	2.2%	2.3%	2.6%	2.8%	3.2%	3.3%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $10.0B

Investing cash flow $-1.9B

Financing cash flow $-10.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	21.0%	12.2%	23.8%	24.9%	22.7%	28.6%	33.6%	35.3%	8.7%	33.6%
Operating Activities Depreciation and Amortization	14.1%	16.7%	14.4%	13.0%	13.1%	14.2%	9.4%	8.2%	8.6%	9.2%
Operating Activities Stock Based Compensation	1.3%	1.6%	1.5%	1.5%	1.3%	1.3%	1.3%	1.3%	1.4%	1.4%
Operating Activities Deferred Income Taxes	-1.9%	-3.7%	-4.3%	-4.8%	-1.7%	-1.4%	-1.3%	-1.5%	-5.6%	0.9%
Operating Activities Changes In Operating Assets and Liabilities	7.4%	-7.7%	3.8%	6.6%	2.0%	2.7%	3.1%	1.0%	1.5%	1.1%
Operating Activities Other Non Cash Items	-0.4%	-0.2%	-0.8%	-0.7%	-0.2%	3.9%	1.7%	5.1%	1.0%	1.4%
Operating Activities net Cash From Operating Activities	27.1%	34.4%	30.0%	36.9%	35.6%	41.3%	39.2%	47.6%	48.9%	45.0%
Investing Activities Capital Expenditures	5.1%	3.3%	3.9%	3.6%	3.4%	2.4%	2.6%	3.1%	2.9%	3.2%
Investing Activities Business Acquisitions	0.1%	0.0%	95.7%	14.6%	9.7%	0.0%	58.3%	-0.8%	0.1%	0.0%
Investing Activities Proceeds From Sale of Investments	0.0%	0.0%	2.0%	4.3%	34.0%	17.2%	88.0%	22.8%	106.1%	78.1%
Investing Activities Other Investing Activities	0.1%	-0.1%	-0.8%	-0.4%	0.7%	0.3%	0.1%	0.4%	0.6%	1.1%
Investing Activities net Cash From Investing Activities	-5.3%	-3.1%	-93.0%	-23.0%	2.8%	-21.2%	24.4%	60.4%	-17.6%	-37.7%
Financing Activities Proceeds From Debt	0.0%	0.0%	98.5%	26.3%	19.0%	35.1%	0.0%	0.0%	19.6%	31.8%
Financing Activities Repayment of Debt	13.6%	10.8%	5.2%	0.0%	16.0%	25.4%	19.3%	4.7%	19.3%	16.2%
Financing Activities Repurchase of Common Stock	0.0%	0.6%	0.0%	24.2%	19.2%	13.7%	33.0%	74.9%	13.8%	12.9%
Financing Activities Dividends Paid	13.9%	14.5%	16.2%	15.9%	15.4%	14.8%	15.0%	14.8%	14.7%	13.0%
Financing Activities Other Financing Activities	-0.1%	-0.4%	-0.3%	-0.4%	-0.3%	-0.4%	-0.2%	-0.3%	0.2%	0.1%
Financing Activities net Cash From Financing Activities	-29.5%	-28.2%	74.7%	-15.3%	-31.8%	-19.1%	-67.5%	-94.7%	-28.9%	-11.3%
Cash Reconciliation Effect of Exchange Rate On Cash	24.8%	35.8%	38.8%	29.0%	30.8%	24.6%	25.8%	29.2%	16.6%	—
Cash Reconciliation net Change In Cash	-7.7%	3.1%	11.8%	-1.4%	6.6%	0.9%	-3.9%	13.2%	2.4%	-3.9%
Cash Reconciliation Cash At Beginning of Period	24.8%	35.8%	38.8%	29.0%	30.8%	24.6%	25.8%	29.2%	16.6%	14.1%
Cash Reconciliation Cash At End of Period	24.8%	35.8%	38.8%	29.0%	30.8%	24.6%	25.8%	29.2%	16.6%	14.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+67.2%	+61.5%	+70.0%	+75.7%	+75.2%	+75.8%	+81.4%	+82.7%	+82.2%	+81.9%
Operating margin	+24.7%	+21.7%	+28.0%	+36.3%	+29.4%	+35.9%	+41.4%	+43.2%	+43.6%	+42.6%
Net margin	+21.0%	+12.2%	+23.8%	+24.9%	+22.7%	+28.6%	+33.6%	+35.3%	+8.7%	+33.6%
FCF margin	+22.0%	+31.1%	+26.1%	+33.4%	+32.3%	+38.9%	+36.5%	+44.5%	+46.0%	+41.8%
Growth
Revenue CAGR (3y)	+11.8%	+8.8%	+3.5%	+4.1%	+3.0%	+3.6%	+0.5%	+3.1%	+4.4%	+7.2%
Returns
ROE	+89.1%	+69.6%	+107.8%	+179.0%	+88.0%	+77.2%	+81.1%	+67.2%	+7.8%	+25.8%
ROA	+8.5%	+4.5%	+6.9%	+10.1%	+9.6%	+11.5%	+13.1%	+12.6%	+2.5%	+9.9%
ROIC	+14.4%	+11.9%	+11.3%	+24.4%	+21.0%	+22.6%	+24.8%	+22.9%	+3.6%	+13.5%
Liquidity
Current ratio	1.14x	1.26x	1.65x	1.41x	1.59x	1.81x	1.44x	2.79x	5.49x	4.11x
Quick ratio	0.73x	0.81x	0.99x	0.84x	1.06x	0.93x	0.79x	0.78x	0.78x	0.57x
Leverage
D/E	2.94x	3.93x	2.95x	4.28x	1.82x	1.24x	1.33x	1.08x	0.36x	0.38x
Interest coverage	3.30x	2.30x	2.75x	6.80x	6.38x	7.24x	7.51x	7.37x	7.65x	7.77x
Efficiency
Asset turnover	0.41x	0.36x	0.29x	0.40x	0.42x	0.40x	0.39x	0.36x	0.29x	0.30x
Cash conversion cycle	+212d	+219d	+437d	+268d	+223d	+211d	+249d	+209d	+185d	+211d

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