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Earnings transcript
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AMGN
Amgen Inc.
$410.95
6.1
(1.51%)
| Exchange: | NASDAQ |
| Market Cap: | 221.79B |
| Shares Outstanding: | 940.856M |
Delayed data
About The Company
| Sector: | Healthcare | |||||
| Industry: | Drug Manufacturers – General | |||||
| CEO: | Robert A. Bradway | |||||
| Full Time Employees: | 31500 | |||||
| Address: |
| |||||
| Website: | https://www.amgen.com |
Amgen Inc., established in 1980 and headquartered in Thousand Oaks, California, is a global biotechnology leader focused on discovering, developing, manufacturing, and delivering groundbreaking human medicines. The company’s scientific endeavors span several critical therapeutic categories, including inflammatory conditions, oncology and hematology, bone health, cardiovascular diseases, nephrology, and neuroscience. Its extensive portfolio features a range of significant pharmaceutical products. Notable examples include Enbrel, prescribed for conditions like plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, which helps cancer patients by reducing the risk of infection linked to a low white blood cell count; Prolia, utilized in postmenopausal women to combat osteoporosis; and Xgeva, designed to prevent skeletal-related complications. Otezla offers relief for adult patients suffering from plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease. Aranesp addresses anemia and low red blood cell counts, while KYPROLIS is employed to treat patients with relapsed or refractory multiple myeloma. Furthermore, Repatha plays a vital role in lowering the incidence of major cardiovascular events such as myocardial infarction, stroke, and coronary revascularization. Amgen’s comprehensive product lineup also encompasses Nplate, Vectibix, MVASI, Parsabiv, EPOGEN, KANJINTI, BLINCYTO, Aimovig, EVENITY, AMGEVITATM, Sensipar/Mimpara, NEUPOGEN, IMLYGIC, Corlanor, and AVSOLA. The company distributes its therapies worldwide, primarily serving healthcare providers, including physicians and their clinics, dialysis centers, hospitals, and pharmacies. Distribution is facilitated through pharmaceutical wholesale distributors, complemented by direct-to-consumer channels. Amgen actively engages in strategic collaborations. It has partnered with entities such as Novartis Pharma AG, UCB, Bayer HealthCare LLC, BeiGene, Ltd., Eli Lilly and Company, Datos Health, and Verastem, Inc., to jointly assess VS-6766 when combined with lumakrastm (Sotorasib) in patients with KRAS G12C-mutant non-small cell lung cancer. Another key alliance involves Kyowa Kirin Co., Ltd., for the co-development and commercialization of KHK4083, a Phase 3-ready anti-OX40 fully human monoclonal antibody targeting atopic dermatitis and other autoimmune conditions. Additionally, Amgen maintains research and development partnerships with Neumora Therapeutics, Inc. and Plexium, Inc.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 28,190,000 | 33,424,000 | 36,741,000 |
| Gross Profit | 19,775,000 | 20,566,000 | 26,012,000 |
| EBITDA | 14,801,000 | 13,356,000 | 16,898,000 |
| Operating Income | 7,897,000 | 7,258,000 | 10,676,000 |
| Net Income | 6,717,000 | 4,090,000 | 7,711,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 97,154,000 | 91,839,000 | 90,586,000 |
| Total Liabilities | 90,922,000 | 85,962,000 | 81,928,000 |
| Total Stockholders Equity | 6,232,000 | 5,877,000 | 8,658,000 |
| Total Debt | 64,613,000 | 60,099,000 | 54,604,000 |
| Cash and Cash Equivalents | 10,944,000 | 11,973,000 | 9,129,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 8,471,000 | 11,490,000 | 9,958,000 |
| Capital Expenditure | -1,112,000 | -1,096,000 | -1,858,000 |
| Free Cash Flow | 7,359,000 | 10,394,000 | 8,100,000 |
| Net Income | 6,717,000 | 4,090,000 | 7,711,000 |
| Net Change in Cash | 3,315,000 | 1,029,000 | -2,844,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 42,155,321.761 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 46,723,871.339 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 43,907,303.782 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 19,236,886.964 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 21,321,669.339 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 20,036,375.111 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 14,556,130.886 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 16,632,787.630 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 15,352,502.328 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 8,731,897.727 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 9,678,210.221 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 9,094,796.815 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 28.330 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 30.690 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 26.860 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 13 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 4 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Amgen Inc. reported strong financial results for Q4 2025, with significant revenue growth and improved net income as highlighted in the earnings call transcript. Key metrics such as gross profit margin and net profit margin (TTM) indicate operational efficiency compared to industry averages.
- Strong Cash Flow Generation: The company demonstrates healthy free cash flow (TTM) and operating cash flow as per cash flow statements, supporting reinvestment in innovation and debt management while maintaining a competitive dividend yield (TTM).
- Innovative Product Portfolio: The Q4 2025 earnings call emphasized Amgen’s focus on expanding its product portfolio in key therapeutic areas, positioning the company as a leader in the biotechnology industry within the healthcare sector.
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates AMGN intrinsic value between $282.70 – $335.71 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about AMGN valuation
Is Amgen Inc. (AMGN) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Amgen Inc. (AMGN) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is AMGN a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether AMGN trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is AMGN’s P/E ratio?
You can see AMGN’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for AMGN?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is AMGN a good long-term investment?
Whether AMGN fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
AMGN
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Daily snapshot
1.51
Trading Metrics:
| Open: | 404.09 | Previous Close: | 404.85 | |
| Day Low: | 401.07 | Day High: | 411.6 | |
| Year Low: | 269.77 | Year High: | 411.6 | |
| Price Avg 50: | 356.69 | Price Avg 200: | 344.25 | |
| Volume: | 0 | Average Volume: | 2.69M |
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Login — it's freeAMGN full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of Amgen Inc., ticker AMGN, one of the heavyweights in the biotech and pharmaceutical space. If you’re looking to understand whether this stock deserves a spot in your portfolio, stick around because we’re covering everything from financials to recent performance, valuation, and more. Let’s get started! So, why are we talking about Amgen today? Well, this is a company that’s been a staple in the…
