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Nasdaq · Healthcare

AMGEN INC (AMGN)

As-reported financials and SEC filings for AMGEN INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About AMGEN INC

Amgen Inc discovers, develops, manufactures, and delivers medicines to treat serious diseases. The company offers products such as Repatha for cardiovascular risk, UPLIZNA for immunoglobulin G4-related disease and myasthenia gravis, and IMDELLTRA for small cell lung cancer. Amgen serves healthcare providers and patients worldwide, with a presence in about 100 countries and sales primarily through pharmaceutical wholesalers and direct-to-patient channels.

Snapshot

Revenue
$36.75B
Revenue growth (YoY)
10.0%
Net income
$7.71B
Diluted EPS
$14.23
Gross margin
67.2%
Operating margin
24.7%
Net margin
21.0%
FCF margin
22.0%
ROE
89.1%
net income / fiscal-year-end equity
P/E
24.4×
trailing when available, otherwise FY EPS
Market cap
$212.56B
Long-term debt / equity
5.78×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Amgen

  • Revenue grew 10.0% to $36.8B in FY2025, slower than the 18.6% the year before.
  • Operating margin is 24.7% in FY2025, -4.7 pp against 29.4% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $10.1B, up 9.5% from Q2 FY2025.
  • Free cash flow was $8.1B in FY2025, 22.0% of revenue.
  • Net income rose 88.5% to $7.7B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Amgen’s fundamentals sit among the 71 biotech companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin67.2%
54th percentile of 14
Operating margin24.7%
70th percentile of 31
Net margin21.0%
68th percentile of 32
FCF margin22.0%
74th percentile of 28
Revenue growth (YoY)+10.0%
41st percentile of 64
ROE89.1%
95th percentile of 61
P/E24.4×
68th percentile of 20
Long-term debt / equity5.78×
95th percentile of 20
Short interest4.34d
27th percentile of 71

Amgen’s return on equity of 89.1% ranks in the 95th percentile of the 61 biotech companies reporting it. Amgen’s long-term debt to equity of 5.78 ranks in the 95th percentile of the 20 biotech companies reporting it.

No reported insider purchases (code P) in the last 90 days; 6 insider sales totaling $4.1M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+5 quant / multi-strat
Initiated / added
5
0 new, 5 added
Reduced / exited
3
3 trimmed, 0 exited
Combined position
$1.30B
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$467.2M1.3MAdded
Two Sigma InvestmentsquantQ2 2026$408.7M1.1MAdded
Citadel AdvisorsquantQ2 2026$254.9M704.0KAdded
AQR Capital ManagementquantQ2 2026$107.8M300.0KAdded
Millennium ManagementquantQ2 2026$28.7M79.3KReduced
Gotham Asset ManagementQ2 2026$16.9M46.6KReduced
Bridgewater AssociatesQ2 2026$7.9M21.9KAdded
Dodge & CoxQ2 2026$4.6M12.8KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
6
$4.1M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-13
Khosla RachnaSVP, Business DevelopmentSell1.3K$416.43$521K
2026-08-11
filed 2026-08-13
Khosla RachnaSVP, Business DevelopmentSell2.0K$412.57$825K
2026-08-06
filed 2026-08-07
Miller DerekSVP, Human ResourcesSell2.1K$402.54$833K
2026-08-06
filed 2026-08-07
Grygiel Nancy A.SVP & CCOSell2.0K$402.16$792K
2026-08-06
filed 2026-08-07
Miller DerekSVP, Human ResourcesSell1.8K$402.54$733K
2026-08-06
filed 2026-08-07
Grygiel Nancy A.SVP & CCOSell1.0K$402.16$402K
2026-05-04
filed 2026-05-05
Grygiel Nancy A.SVP & CCOSell1.2K$323.73$400K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
12.0M
settled 2026-08-14
Change vs prior
-9.3%
vs previous settlement
Days to cover
4.34
at avg daily volume
Avg daily volume
2.8M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1412.0M-9.3%4.34
2026-07-3113.3M+3.4%5.16
2026-07-1512.8M-0.2%6.36
2026-06-3012.9M+5.5%3.93
2026-06-1512.2M+2.9%4.11
2026-05-2911.9M-3.6%4.98
2026-05-1512.3M-5.2%4.27
2026-04-3013.0M+1.7%5.28

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$36.75B$33.42B$28.19B$26.32B$25.98B
Gross profit$24.71B$20.57B$19.74B$19.92B$19.52B
Operating income$9.08B$7.26B$7.90B$9.57B$7.64B
Net income$7.71B$4.09B$6.72B$6.55B$5.89B
Diluted EPS$14.23$7.56$12.49$12.11$10.28

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$9.13B$11.97B$10.94B$7.63B$7.99B
Current assets$29.06B$29.03B$30.33B$22.19B$19.39B
Total assets$90.59B$91.84B$97.15B$65.12B$61.16B
Current liabilities$25.49B$23.10B$18.39B$15.69B$12.18B
Long-term debt$50.01B$56.55B$63.17B$37.35B$33.22B
Total liabilities$81.93B$85.96B$90.92B$61.46B$54.47B
Total equity$8.66B$5.88B$6.23B$3.66B$6.70B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$9.96B$11.49B$8.47B$9.72B$9.26B
Capital expenditure$1.86B$1.10B$1.11B$936.0M$880.0M
Free cash flow$8.10B$10.39B$7.36B$8.79B$8.38B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$10.05B9.5%$2.38B$4.37
Q1 FY2026$8.62B5.8%$1.82B$3.34
Q4 FY2025$9.87B8.6%$1.33B$2.46
Q3 FY2025$9.56B12.4%$3.22B$5.93
Q2 FY2025$9.18B9.4%$1.43B$2.65
Q1 FY2025$8.15B9.4%$1.73B$3.20
Q4 FY2024$9.09B10.9%$627.0M$1.16
Q3 FY2024$8.50B23.2%$2.83B$5.22

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryBiological Products, (No Diagnostic Substances)
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2018
SEC CIK318154

Selected SEC filings

10-K2026-02-13
View on EDGAR →
10-K2025-02-14
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-01
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-07-31
View on EDGAR →

Largest biotech peers

All biotech stocksAll Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.