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Earnings transcript
Read the complete earnings call transcript.
AMGN
Amgen Inc.
$347.94
-5.34
(-1.51%)
| Exchange: | NASDAQ |
| Market Cap: | 187.563B |
| Shares Outstanding: | 940.856M |
About The Company
| Sector: | Healthcare | |||||
| Industry: | Drug Manufacturers – General | |||||
| CEO: | Robert A. Bradway | |||||
| Full Time Employees: | 28000 | |||||
| Address: |
| |||||
| Website: | https://www.amgen.com |
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company’s products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization. It also markets Nplate, Vectibix, MVASI, Parsabiv, EPOGEN, KANJINTI, BLINCYTO, Aimovig, EVENITY, AMGEVITATM, Sensipar/Mimpara, NEUPOGEN, IMLYGIC, Corlanor, and AVSOLA. Amgen Inc. serves healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies. It distributes its products through pharmaceutical wholesale distributors, as well as direct-to-consumer channels. It has collaboration agreements with Novartis Pharma AG; UCB; Bayer HealthCare LLC; BeiGene, Ltd.; Eli Lilly and Company; Datos Health; and Verastem, Inc. to evaluate VS-6766 in combination with lumakrastm (Sotorasib) in patients with KRAS G12C-mutant non-small cell lung cancer. It has an agreement with Kyowa Kirin Co., Ltd. to jointly develop and commercialize KHK4083, a Phase 3-ready anti-OX40 fully human monoclonal antibody for the treatment of atopic dermatitis and other autoimmune diseases; and research and development collaboration with Neumora Therapeutics, Inc. and Plexium, Inc. Amgen Inc. was incorporated in 1980 and is headquartered in Thousand Oaks, California.
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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 | 15,843,000 |
| 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 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 41,502,397.851 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 44,376,734.519 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 42,634,510.630 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 18,700,591.642 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 19,995,740.816 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 19,210,711.054 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 14,365,265.586 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 15,669,301.328 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 14,878,886.467 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 8,596,653.479 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 9,192,032.965 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 8,831,155.140 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 27.450 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 28.910 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 26.500 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 15 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 4 | Full Access | Full Access | Full Access | Full 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.
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?
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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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-1.51
Trading Metrics:
| Open: | 351.8 | Previous Close: | 353.28 | |
| Day Low: | 345.87 | Day High: | — | |
| Year Low: | Year High: | |||
| Price Avg 50: | Price Avg 200: | |||
| Volume: | Average Volume: |
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