Amgen Inc (AMGN)
Health Care · Biotechnology · US stock · S&P 500 component
$432.49
▼ -1.54 (0.35%)
Fair valueFair
$376 −13.0% to fair value
$188fair band $263–$489$564
Day's range
$431.39 – $438.82
52-week range
$280.23 – $447.03
About Amgen Inc
Amgen is a biotechnology company that discovers, develops and manufactures medicines for serious illnesses, including cancer, heart disease, bone disorders and inflammatory conditions. It sells its products to wholesalers, hospitals and pharmacies, and revenue is driven by a portfolio of established drugs and some newer ones. Earnings depend on patent protection, competition from biosimilars, pricing and the success of its research pipeline.
Revenue over the last twelve months came to $38.1 billion, and sales grew by 11.8% a year on average across the past three years. Operating margin is 30.0% and return on invested capital is 18%. Net debt to EBITDA is 3.1 times. It pays a dividend with a yield of 2.3%. The X-Ray Score is 50 out of 100. Taken together, these numbers give a factual snapshot of the business.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $280.23 – $447.03Volume 2,567,100Daily, split-adjusted
Vitals
Market cap$235.3B
52-week range$280.23 – $447.03
Volume (last day)2,567,100
P/E (TTM)26.9
EBIT / EV yield4.1%
Free-cash-flow yield4.3%
Dividend yield2.3%
Revenue (TTM)$38.1B
Net income (TTM)$8.7B
Operating margin30.0%
Return on capital17.7%
Debt incl. leases$57.3B
Cash & securities$14.0B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$376model spread $359 – $393
Fair
−13.0% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $432
Undervalued < $263Fair $263 – $489Overvalued > $489
10-year DCF (market-scaled)
$294
Peer multiples
$432
Earnings power floor (not blended)
$95
Fundamentals-adjusted multiple
$402
Growth the price implies
17.9%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Valuation
Weak
49/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.1%
Free-cash-flow yield4.3%
Fair value vs price0.9×
Growth
Fair
61/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)11.8%
EPS growth (3y)5.5%
Growth consistency100%
Profitability
Fair
55/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital17.7%
Operating margin30.0%
Gross profitability27.7%
Financial health
Weak
36/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA3.1×
Interest cover4.3×
Dividends
Fair
57/100
Dividend is typical for its sector.
See the numbers →
Dividend yield2.3%
Dividends vs free cash flow53%
Dividend growth6.9%
Quarterly results: last 6 quarters
+9.4%
Mar '25
+9.4%
Jun '25
+12.4%
Sep '25
+8.6%
Dec '25
+5.8%
Mar '26
+9.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $10.1B, diluted EPS $4.37.
Compare with peers
INCY Incyte Corp81 VRTX Vertex Pharmaceuticals...55 REGN Regeneron Pharmaceutic...50 BIIB Biogen Inc.47Other Biotechnology companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 9 Average · ● 4 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 51/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $26.0B | $26.3B | $28.2B | $33.4B | $36.8B |
| Operating income | $7.6B | $9.6B | $7.9B | $7.3B | $9.1B |
| Net income | $5.9B | $6.6B | $6.7B | $4.1B | $7.7B |
| Operating cash flow | $9.3B | $9.7B | $8.5B | $11.5B | $10.0B |
| Operating margin | 29.4% | 36.3% | 28.0% | 21.7% | 24.7% |
| Free cash flow | $8.4B | $8.8B | $7.4B | $10.4B | $8.1B |
| Diluted EPS | $10.28 | $12.11 | $12.49 | $7.56 | $14.23 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 3 neutral · 1 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 416.4 | Bullish |
| EMA 10 | 420.2 | Bullish |
| SMA 20 | 413.4 | Bullish |
| EMA 20 | 414.8 | Bullish |
| SMA 50 | 414.5 | Bullish |
| EMA 50 | 406.5 | Bullish |
| SMA 100 | 386.5 | Bullish |
| EMA 100 | 391.5 | Bullish |
| SMA 200 | 365.7 | Bullish |
| EMA 200 | 368.8 | Bullish |
Oscillators (daily)
| RSI (14) | 62.53 | Neutral |
| MACD (12, 26) | 5.51 | Bullish |
| Momentum (12) | 2.60 | Bullish |
| Stochastic %K (14) | 79.74 | Neutral |
| Williams %R (14) | -20.26 | Neutral |
| CCI (20) | 174.6 | Bearish |
Pivot points (classic, last session)
S3 422.2 | S2 426.8 | S1 429.6 | Pivot 434.2 | R1 437.1 | R2 441.7 | R3 444.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
9.94 USD
Yield on today's price
2.30%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 21 Aug 2026 | 2.5200 |
| 15 May 2026 | 2.5200 |
| 13 Feb 2026 | 2.5200 |
| 21 Nov 2025 | 2.3800 |
| 22 Aug 2025 | 2.3800 |
| 16 May 2025 | 2.3800 |
| 14 Feb 2025 | 2.3800 |
| 18 Nov 2024 | 2.2500 |
| 16 Aug 2024 | 2.2500 |
| 16 May 2024 | 2.2500 |
| 15 Feb 2024 | 2.2500 |
| 16 Nov 2023 | 2.1300 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
AMGN SEC filings
5 Aug 2026
10-QSEC EDGAR
Quarterly report
4 Aug 2026
8-KSEC EDGAR
Results of operations
31 Jul 2026
8-KSEC EDGAR
Current report
20 May 2026
8-KSEC EDGAR
Shareholder vote results
19 May 2026
8-KSEC EDGAR
Director or officer change
1 May 2026
10-QSEC EDGAR
Quarterly report
30 Apr 2026
8-KSEC EDGAR
Results of operations
22 Apr 2026
8-KSEC EDGAR
Director or officer change
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.