Financials · AMGN

Amgen Inc. (AMGN) financials

For the twelve months ended Sep 30, 2026, Amgen Inc. reported $38.90B of revenue and $9.39B of net income.

Revenue, TTM
$38.90B
Revenue growth, YoY
+8.2%
Net income, TTM
$9.39B
Net income growth, YoY
+34.1%
Net margin
24.1%
Free cash flow, TTM
$9.58B
EPS, diluted, TTM
$17.24
EPS growth, YoY
+33.1%
Cash
$13.19B
Total debt
$54.01B
P/E
26.52
P/S
6.40
Market cap
$249.05B
Annual revenue$36.75B
FY2016FY2025
Annual net income$7.71B
FY2016FY2025
Annual free cash flow$8.10B
FY2016FY2025

AMGN revenue and earnings growth

AMGN revenueQ3 2026$10.37B

Quarter YoY
+8.5%
QoQ
+3.1%
FY YoY
+10.0%
5Y CAGR
+7.6%
10Y CAGR
+5.4%

AMGN revenue was $10.37B in fiscal Q3 2026 (ended Sep 30, 2026), up 8.5% from a year earlier and up 3.1% from the prior quarter. For the full fiscal 2025 it was $36.75B, up 10.0% from fiscal 2024. Compound annual growth was +7.6% over 5 years and +5.4% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

AMGN net incomeQ3 2026$3.86B

Quarter YoY
+20.1%
QoQ
+62.7%
FY YoY
+88.5%
5Y CAGR
+1.2%
10Y CAGR
+1.1%

AMGN net income was $3.86B in fiscal Q3 2026 (ended Sep 30, 2026), up 20.1% from a year earlier and up 62.7% from the prior quarter. For the full fiscal 2025 it was $7.71B, up 88.5% from fiscal 2024. Compound annual growth was +1.2% over 5 years and +1.1% over 10 years. It rose in 5 of the last 10 fiscal years.

AMGN EPSQ3 2026$7.08

Quarter YoY
+19.4%
QoQ
+62.0%
FY YoY
+88.2%
5Y CAGR
+2.9%
10Y CAGR
+4.6%

AMGN diluted EPS was $7.08 in fiscal Q3 2026 (ended Sep 30, 2026), up 19.4% from a year earlier and up 62.0% from the prior quarter. For the full fiscal 2025 it was $14.23, up 88.2% from fiscal 2024. Compound annual growth was +2.9% over 5 years and +4.6% over 10 years.

AMGN free cash flowQ3 2026$3.65B

Quarter YoY
-14.0%
QoQ
+4.7%
FY YoY
-22.1%
5Y CAGR
-3.9%
10Y CAGR
-1.2%

AMGN free cash flow was $3.65B in fiscal Q3 2026 (ended Sep 30, 2026), down 14.0% from a year earlier and up 4.7% from the prior quarter. For the full fiscal 2025 it was $8.10B, down 22.1% from fiscal 2024. Compound annual growth was -3.9% over 5 years and -1.2% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$36.75B$33.42B$28.19B$26.32B$25.98B$25.42B$23.36B$23.75B$22.85B$22.99B
Cost of revenue$12.04B$12.86B$8.45B$6.41B$6.45B$6.16B$4.36B$4.10B$4.07B$4.16B
Gross profit$24.71B$20.57B$19.74B$19.92B$19.52B$19.27B$19.01B$19.65B$18.78B$18.83B
Research and development$7.27B$5.96B$4.78B$4.43B$4.82B$4.21B$4.12B$3.74B$3.56B$3.84B
Selling, general and admin$7.05B$7.10B$6.18B$5.41B$5.37B$5.73B$5.15B$5.33B$4.87B$5.06B
Operating income$9.08B$7.26B$7.90B$9.57B$7.64B$9.14B$9.67B$10.26B$9.97B$9.79B
Pre-tax income$8.98B$4.61B$7.86B$7.35B$6.70B$8.13B$9.14B$9.54B$9.60B$9.16B
Income tax$1.26B$519.00M$1.14B$794.00M$808.00M$869.00M$1.30B$1.15B$7.62B$1.44B
Net income$7.71B$4.09B$6.72B$6.55B$5.89B$7.26B$7.84B$8.39B$1.98B$7.72B
EPS, basic$14.33$7.62$12.56$12.18$10.34$12.40$12.96$12.70$2.71$10.32
EPS, diluted$14.23$7.56$12.49$12.11$10.28$12.31$12.88$12.62$2.69$10.24
Diluted shares542.0M541.0M538.0M541.0M573.0M590.0M609.0M665.0M735.0M754.0M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$9.13B$11.97B$10.94B$7.63B$7.99B$6.27B$6.04B$6.95B$3.80B$3.24B
Receivables$9.57B$6.78B$7.27B$5.56B$4.89B$4.53B$4.06B$3.58B$3.24B$3.17B
Inventory$6.22B$7.00B$9.52B$4.93B$4.09B$3.89B$3.58B$2.94B$2.83B$2.75B
Current assets$29.06B$29.03B$30.33B$22.19B$19.39B$21.14B$18.44B$37.62B$49.48B$46.01B
Goodwill$18.68B$18.64B$18.63B$15.53B$14.89B$14.69B$14.70B$14.70B$14.76B$14.76B
Total assets$90.59B$91.84B$97.15B$65.12B$61.16B$62.95B$59.71B$66.42B$79.95B$77.63B
Current liabilities$25.49B$23.10B$18.39B$15.69B$12.18B$11.65B$12.84B$13.49B$9.02B$11.20B
Short-term debt$4.60B$3.55B$1.44B$1.59B$87.00M$91.00M$2.95B$4.42B$1.15B$4.40B
Long-term debt$50.01B$56.55B$63.17B$37.35B$33.22B$32.90B$26.95B$29.51B$34.19B$30.19B
Total debt$54.60B$60.10B$64.61B$38.95B$33.31B$32.99B$29.90B$33.93B$35.34B$34.60B
Shareholders' equity$8.66B$5.88B$6.23B$3.66B$6.70B$9.41B$9.67B$12.50B$25.24B$29.88B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$9.96B$11.49B$8.47B$9.72B$9.26B$10.50B$9.15B$11.30B$11.18B$10.35B
Capital expenditures$1.86B$1.10B$1.11B$936.00M$880.00M$608.00M$618.00M$738.00M$664.00M$738.00M
Free cash flow$8.10B$10.39B$7.36B$8.79B$8.38B$9.89B$8.53B$10.56B$10.51B$9.62B
Investing cash flow-$1.94B-$1.05B-$26.20B-$6.04B$733.00M-$5.40B$5.71B$14.34B-$4.02B-$8.66B
Financing cash flow-$10.86B-$9.41B$21.05B-$4.04B-$8.27B-$4.87B-$15.77B-$22.49B-$6.59B-$2.60B
Dividends paid$5.12B$4.83B$4.56B$4.20B$4.01B$3.75B$3.51B$3.51B$3.37B$3.00B
Share repurchases$0$200.00M$0$6.36B$4.97B$3.49B$7.70B$17.79B$3.16B$2.96B
Stock-based compensation$494.00M$530.00M$431.00M$401.00M$341.00M$330.00M$308.00M$311.00M$329.00M$311.00M
Depreciation and amortization$5.17B$5.59B$4.07B$3.42B$3.40B$3.60B$2.21B$1.95B$1.96B$2.10B

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY10.0%18.6%7.1%1.3%2.2%8.8%-1.6%3.9%-0.6%6.1%
Net income growth, YoY88.5%-39.1%2.5%11.2%-18.9%-7.4%-6.6%324.2%-74.4%11.3%
EPS growth, YoY88.2%-39.5%3.1%17.8%-16.5%-4.4%2.1%369.1%-73.7%13.0%
Gross margin67.2%61.5%70.0%75.7%75.2%75.8%81.4%82.7%82.2%81.9%
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%
Free cash flow margin22.0%31.1%26.1%33.4%32.3%38.9%36.5%44.5%46.0%41.8%
Return on equity89.1%69.6%107.8%179.0%88.0%77.2%81.1%67.2%7.8%25.8%
Return on assets8.5%4.5%6.9%10.1%9.6%11.5%13.1%12.6%2.5%9.9%
Current ratio1.141.261.651.411.591.811.442.795.494.11
Debt to equity6.3110.2310.3710.644.973.513.092.711.401.16

Source: XBRL data Amgen Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

AMGN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
AMGN$38.90B+8.2%$9.39B24.1%$249.05B
ABBV$66.01B+10.7%$10.34B15.7%$514.92B
MRK$67.38B+4.9%$2.45B3.6%$361.71B
NVS$54.53B+8.4%$13.98B25.6%$310.17B
AZN$58.74B+8.6%$10.22B17.4%$289.10B
PFE$63.63B+1.3%$4.03B6.3%$167.49B
BMY$50.03B+4.2%$9.24B18.5%$127.01B
SNY€43.63B+6.2%€7.81B17.9%$114.71B
TAK¥4.51T-1.7%-¥152.39B-3.4%$66.40B

AMGN FAQ

9 questions
  • What is AMGN revenue?
    Amgen Inc. (AMGN) reported $38.90B of revenue for the twelve months ended Sep 30, 2026. That is up 8.2% from the year before. Revenue for fiscal 2025 was $36.75B.
  • Is AMGN profitable?
    Yes. Amgen Inc. earned $9.39B in net income for the twelve months ended Sep 30, 2026, a net margin of 24.1%.
  • How much cash and debt does AMGN have?
    Amgen Inc. reported $13.19B in cash and cash equivalents and $54.01B of debt on its most recent balance sheet in SEC filings.
  • How fast is AMGN revenue growing?
    Amgen Inc.'s revenue changed +10.0% in fiscal 2025, to $36.75B. Its compound annual growth rate was +7.6% over 5 years and +5.4% over 10 years.
  • What is AMGN gross margin?
    Amgen Inc.'s gross profit was $27.58B on $38.90B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 70.9%.
  • What is AMGN free cash flow?
    Amgen Inc. generated $9.58B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $12.04B less capital expenditures.
  • What is AMGN earnings per share?
    Diluted earnings per share were $17.24 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did AMGN last report financial results?
    The latest statements here come from Amgen Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this AMGN financial data come from?
    Quantisnow builds these statements from the structured XBRL data Amgen Inc. files with the SEC. It is provided for information only and is not investment advice.