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 · 3 years

Total assets $90.6B

Total liabilities $25.5B

Shareholders equity $8.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	24.8%	35.8%	38.8%
Short Term Investments	0.0%	0.0%	0.0%
Accounts Receivable	26.0%	20.3%	25.8%
Inventory	16.9%	20.9%	33.8%
Prepaid Expenses	11.2%	9.8%	9.2%
Other Current Assets	11.2%	9.8%	9.2%
Total Current Assets	79.1%	86.9%	107.6%
Property,Plant and Equipment	21.5%	19.6%	21.1%
Goodwill	50.8%	55.8%	66.1%
Intangible Assets	60.6%	82.9%	115.8%
Other Noncurrent Assets	34.4%	29.7%	34.1%
Total Assets	246.5%	274.8%	344.6%
Liabilities
Accounts Payable	6.4%	5.7%	5.6%
Accrued Liabilities	50.4%	52.8%	54.5%
Current Portion of Long Term Debt	12.5%	10.6%	5.1%
Other Current Liabilities	6.5%	7.0%	8.3%
Total Current Liabilities	69.4%	69.1%	65.2%
Long Term Debt	136.1%	169.2%	224.1%
Deferred Tax Liabilities	3.7%	4.8%	8.4%
Other Noncurrent Liabilities	6.5%	7.0%	8.3%
Total Liabilities	69.4%	69.1%	65.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	8.9%	9.8%	11.7%
Retained Earnings	-68.3%	-82.5%	-94.2%
Accumulated Other Comprehensive Income	-0.7%	-0.2%	-1.0%
Total Stockholders Equity	23.6%	17.6%	22.1%
Total Liabilitiesand Equity	246.5%	274.8%	344.6%

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	100.0%	100.0%	100.0%
Expenses Cost of Revenue	32.8%	38.5%	30.0%
Expenses Research and Development	19.8%	17.8%	17.0%
Expenses Selling,General and Administrative	19.2%	21.2%	21.9%
Expenses Depreciation and Amortization	14.1%	16.7%	14.4%
Expenses Share Based Compensation	1.3%	1.6%	1.5%
Expenses Operating Expenses	75.3%	78.3%	72.0%
Other Income Expense Operating Income	24.7%	21.7%	28.0%
Other Income Expense Interest Income	1.1%	1.5%	4.3%
Other Income Expense Interest Expense	7.5%	9.4%	10.2%
Other Income Expense Other Income/expense	7.2%	1.5%	10.0%
Other Income Expense Income Before Tax	24.4%	13.8%	27.9%
Income Tax Income Tax Expense	3.4%	1.6%	4.0%
net Income net Income	21.0%	12.2%	23.8%
net Income Comprehensive Income	20.5%	12.9%	23.6%
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	1.5%	1.6%	1.9%
Earnings Per Share Weighted Average Shares Diluted	1.5%	1.6%	1.9%

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	21.0%	12.2%	23.8%
Operating Activities Depreciation and Amortization	14.1%	16.7%	14.4%
Operating Activities Stock Based Compensation	1.3%	1.6%	1.5%
Operating Activities Deferred Income Taxes	-1.9%	-3.7%	-4.3%
Operating Activities Changes In Operating Assets and Liabilities	7.4%	-7.7%	3.8%
Operating Activities Other Non Cash Items	-0.4%	-0.2%	-0.8%
Operating Activities net Cash From Operating Activities	27.1%	34.4%	30.0%
Investing Activities Capital Expenditures	5.1%	3.3%	3.9%
Investing Activities Business Acquisitions	0.1%	0.0%	95.7%
Investing Activities Proceeds From Sale of Investments	0.0%	0.0%	2.0%
Investing Activities Other Investing Activities	0.1%	-0.1%	-0.8%
Investing Activities net Cash From Investing Activities	-5.3%	-3.1%	-93.0%
Financing Activities Proceeds From Debt	0.0%	0.0%	98.5%
Financing Activities Repayment of Debt	13.6%	10.8%	5.2%
Financing Activities Repurchase of Common Stock	0.0%	0.6%	0.0%
Financing Activities Dividends Paid	13.9%	14.5%	16.2%
Financing Activities Other Financing Activities	-0.1%	-0.4%	-0.3%
Financing Activities net Cash From Financing Activities	-29.5%	-28.2%	74.7%
Cash Reconciliation Effect of Exchange Rate On Cash	24.8%	35.8%	38.8%
Cash Reconciliation net Change In Cash	-7.7%	3.1%	11.8%
Cash Reconciliation Cash At Beginning of Period	24.8%	35.8%	38.8%
Cash Reconciliation Cash At End of Period	24.8%	35.8%	38.8%

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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