Biotechnology pioneer discovering, developing, manufacturing, and delivering human therapeutics for serious illnesses.MoreShow less
Profile & Fundamentals
Amgen (AMGN.NASDAQ) Profile & Fundamentals
Review Amgen reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Amgen: Company Profile & Ownership
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel for the treatment of rheumatoid arthritis, plaque psoriasis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout. It also markets other products, including PROLIA, REPATHA, OTEZLA, ENBREL, EVENITY, XGEVA, TEPEZZA, BLINCYTO, NPLATE, TEZSPIRE, KYPROLIS, ARANESP, KRYSTEXXA AND VECTIBIX, MVASI, PAVBLU, UPLIZNA, IMDELLTRA/IMDYLLTRA, AMJEVITA/AMGEVITA, TAVNEOS, NEULASTA, LUMAKRAS/LUMYKRAS, RAVICTI, PARSABIV, AIMOVIG, WEZLANA/WEZENLA, AND PROCYSBI. The company serves healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies. It distributes its products through pharmaceutical wholesale distributors. The company has collaboration agreements with AstraZeneca plc for the development and commercialization of TEZSPIRE; BEONE MEDICINES LTD. to develop and commercialize Aimovig; UCB for the development and commercialization of EVENITY; Kyowa Kirin Co., Ltd. for rocatinlimab development and commercialization; and BeiGene, Ltd. for oncology products expansion and development. The company was incorporated in 1980 and is he
Company profile record
Amgen Inc
Common Stock · Health Care · Biotechnology
Company
- Company / asset
- Amgen Inc
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Biotechnology
- HQ
- 🇺🇸 United States
- Head office
- One Amgen Center Drive, Thousand Oaks, CA, United States, 91320-1799
Leadership & scale
- Chief executive
- Mr. Robert A. Bradway
- CEO year born
- 1963
- Full-time employees
- 31.5K
- Fiscal year end
- December
- IPO date
- 1983-06-17
Fundamentals snapshot
- Market Cap
- USD 254.0B
- P/E
- 27.0x
- Revenue (Q3 26)
- USD 10.4B
- Profit (Q3 26)
- USD 3.9B
- Dividend Yield
- 1.5%
- Revenue (FY 25)
- USD 36.7B
- Shares in public float
- 539.4M
- Insider ownership
- 0.23%
Reporting & identifiers
- Symbol
- AMGN.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US0311621009
- Asset ID
- equity_3f8ad8b5-f4b0-5cb9-9c03-b91a45b1c70a
Amgen: Ownership
Shares Outstanding
Latest: 546.0M | Max: 724.0M | Min: 539.0M
Latest reported ownership snapshot
Float Shares
98.80%
539.4M latest reported shares
Insider Ownership
0.23%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 724,000,000 |
| 2018-01-01 | 640,000,000 |
| 2019-01-01 | 598,000,000 |
| 2020-01-01 | 585,000,000 |
| 2021-01-01 | 565,000,000 |
| 2022-01-01 | 539,000,000 |
| 2023-01-01 | 540,000,000 |
| 2024-01-01 | 542,000,000 |
| 2025-01-01 | 543,000,000 |
| 2026-01-01 | 546,000,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 49,362,016 | 9.13% | 2026-06-30 |
| Vanguard Capital Management, LLC | 35,250,101 | 6.52% | 2026-06-30 |
| State Street Corp | 30,560,537 | 5.65% | 2026-06-30 |
| Capital World Investors | 29,075,329 | 5.38% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 17,162,763 | 3.17% | 2026-09-30 |
| Amvescap Plc. | 16,320,446 | 3.02% | 2026-06-30 |
| Geode Capital Management, LLC | 15,696,068 | 2.9% | 2026-06-30 |
| Charles Schwab Investment Management Inc | 15,034,038 | 2.78% | 2026-06-30 |
| Vanguard Portfolio Management, LLC | 14,853,366 | 2.75% | 2026-06-30 |
| Vanguard 500 Index Investor | 14,198,816 | 2.63% | 2026-09-30 |
| Morgan Stanley - Brokerage Accounts | 13,653,692 | 2.52% | 2026-06-30 |
| Invesco QQQ Trust | 11,246,649 | 2.08% | 2026-10-30 |
| Schwab US Dividend Equity ETF™ | 10,610,581 | 1.96% | 2026-10-31 |
| Wells Fargo & Co | 7,235,462 | 1.34% | 2026-06-30 |
| iShares Core S&P 500 ETF | 7,209,050 | 1.33% | 2026-10-30 |
Amgen: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Amgen's recent earnings tell a story of commercial resilience overcoming regulatory and generic headwinds. Total revenue reached $38.1 billion over the trailing twelve months, powered by nearly ten percent growth in the second quarter of 2026. Rapid double-digit volume expansion in newer treatments like Repatha and rare-disease therapies from the Horizon acquisition successfully offset a thirty-three percent drop in older bone-health drugs facing biosimilar competition. Reported GAAP net income surged to $12.65 billion on an operating basis, though headline growth was magnified by declining acquisition-related accounting amortization rather than pure operational improvement. More importantly, underlying free cash flow remained exceptionally sturdy at $10.18 billion, proving that Amgen generates dependable cash to manage patent expirations.
Amgen's recent earnings tell a story of commercial resilience overcoming regulatory and generic headwinds. Total revenue reached $38.1 billion over the trailing twelve months, powered by nearly ten percent growth in the second quarter of 2026. Rapid double-digit volume expansion in newer treatments like Repatha and rare-disease therapies from the Horizon acquisition successfully offset a thirty-three percent drop in older bone-health drugs facing biosimilar competition. Reported GAAP net income surged to $12.65 billion on an operating basis, though headline growth was magnified by declining acquisition-related accounting amortization rather than pure operational improvement. More importantly, underlying free cash flow remained exceptionally sturdy at $10.18 billion, proving that Amgen generates dependable cash to manage patent expirations.
Revenue, Net Income, and Free Cash Flow
Latest: USD 36.7B | Max: USD 36.7B | Min: USD 2.0B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 23x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability margins staged a strong recovery following the initial digestion of the Horizon merger. Gross margins rebounded to 70.8% in 2025 as inventory write-ups rolled off, while GAAP operating margins climbed to 36.8% in the second quarter of 2026. Synergies from specialized sales forces and strict administrative overhead control drove this operational rebound. Beneath the surface, non-GAAP operating margins held steady near 48.4%. While biosimilar competition against Prolia and mandatory Medicare discounts on Enbrel exert downward pressure on legacy lines, shifting product mix toward high-margin rare-disease treatments and manufacturing efficiencies should keep consolidated margins structurally healthy over the medium term.
Profitability margins staged a strong recovery following the initial digestion of the Horizon merger. Gross margins rebounded to 70.8% in 2025 as inventory write-ups rolled off, while GAAP operating margins climbed to 36.8% in the second quarter of 2026. Synergies from specialized sales forces and strict administrative overhead control drove this operational rebound. Beneath the surface, non-GAAP operating margins held steady near 48.4%. While biosimilar competition against Prolia and mandatory Medicare discounts on Enbrel exert downward pressure on legacy lines, shifting product mix toward high-margin rare-disease treatments and manufacturing efficiencies should keep consolidated margins structurally healthy over the medium term.
Profitability Margins
Latest: 70.8% | Max: 82.7% | Min: 8.7%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
70.8%
Gross profit / revenue
Operating Margin
29.1%
Operating income / revenue
Net Margin
21.0%
Net income / revenue
FCF Margin
22.0%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 22,991,000,000 | 7,722,000,000 | 9,517,000,000 |
| 2017-12-31 | 22,849,000,000 | 1,979,000,000 | 10,513,000,000 |
| 2018-12-31 | 23,747,000,000 | 8,394,000,000 | 10,558,000,000 |
| 2019-12-31 | 23,362,000,000 | 7,842,000,000 | 8,532,000,000 |
| 2020-12-31 | 25,424,000,000 | 7,264,000,000 | 9,889,000,000 |
| 2021-12-31 | 25,979,000,000 | 5,893,000,000 | 8,381,000,000 |
| 2022-12-31 | 26,323,000,000 | 6,552,000,000 | 8,785,000,000 |
| 2023-12-31 | 28,190,000,000 | 6,717,000,000 | 7,359,000,000 |
| 2024-12-31 | 33,424,000,000 | 4,090,000,000 | 10,394,000,000 |
| 2025-12-31 | 36,741,000,000 | 7,711,000,000 | 8,100,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 23 | Trailing four quarters |
| 2024-12-31 | 34.5 | Trailing four quarters |
| 2023-12-31 | 23.2 | Trailing four quarters |
| 2022-12-31 | 21.6 | Annual net income |
| 2021-12-31 | 21.6 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 81.9 | 42.6 | 33.59 | 41.39 |
| 2017-12-31 | 82.19 | 43.65 | 8.66 | 46.01 |
| 2018-12-31 | 82.73 | 43.22 | 35.35 | 44.46 |
| 2019-12-31 | 81.35 | 41.41 | 33.57 | 36.52 |
| 2020-12-31 | 75.77 | 35.95 | 28.57 | 38.9 |
| 2021-12-31 | 75.16 | 29.4 | 22.68 | 32.26 |
| 2022-12-31 | 75.66 | 36.34 | 24.89 | 33.37 |
| 2023-12-31 | 70.02 | 28.01 | 23.83 | 26.11 |
| 2024-12-31 | 61.53 | 21.71 | 12.24 | 31.1 |
| 2025-12-31 | 70.8 | 29.06 | 20.99 | 22.05 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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