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AMGN

Amgen Inc

US$421.51-0.50% (-US$2.13)
Day's range
US$420.63 – US$426.59
Day's volume
US$1.2bn
52-week range
US$282.30 – US$444.12

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AMGN in numbers

Market cap
US$227.9bn
P/E
26.06
P/B
19.50
Dividend yield (12m)
2.36%
Net debt/EBITDA
3.07

The 12-month dividend yield of AMGN is 2.36%, below its 5-year average of 3.08%.

AMGN price history

01/10/202530/09/2026
Compare with

AMGN risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+45.16%+80.35%+137.94%
Volatility (annualised)28.99%24.98%24.90%
Largest drawdown-12.58%-21.30%-21.54%
Positive months7/1220/3633/60

How much did investing in AMGN return?

US$1,000.00 invested on 01/10/2021 would be worth US$2,379.42 today.

Value today in AMGN
US$2,379.42
Return over the period
+137.94%
Return per year
+18.94%
In the S&P 500
US$1,661.44

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

AMGN fundamentals

Valuation

  • P/E
    26.06
  • P/B
    19.50
  • EV/EBITDA
    19.20
  • EV/EBIT
    23.74
  • EV/Revenue
    7.12
  • P/EBIT
    19.94
  • P/S
    5.98
  • P/OCF
    18.26
  • P/FCF
    22.40
  • Earnings yield
    4.21%
  • PEG ratio
    —
  • Earnings per share
    US$16.17
  • Book value per share
    US$21.62

Debt

  • Net debt
    US$43.3bn
  • Net debt/EBITDA
    3.07
  • Net debt/Equity
    3.71
  • Debt/Equity
    4.90
  • Current ratio
    1.37
  • Quick ratio
    1.13
  • Cash ratio
    0.55

Efficiency

  • Gross margin
    69.52%
  • EBITDA margin
    37.09%
  • Operating margin
    29.99%
  • Net margin
    22.95%
  • Asset turnover
    0.40

Profitability

  • ROE
    74.80%
  • ROA
    9.14%
  • ROIC
    17.66%
  • Payout
    61.46%

Growth

  • Revenue CAGR (5 years)
    8.37%
  • Earnings CAGR (5 years)
    8.76%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is AMGN's fair price?

Two classic value formulas, with today's numbers. The current price is US$421.51.

Graham's fair price
US$88.69
78.96% below the price

√(22.50 × US$16.17 × US$21.62)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$139.47
66.91% below the price

US$8.37 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

AMGN indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E22.8834.2322.9821.4021.2718.2818.1314.43
P/B20.3823.8224.7738.3118.7014.1114.709.69
EV/EBITDA15.5814.6417.3813.2113.6512.5213.9812.13
Dividend yield2.91%3.45%2.96%2.95%3.13%2.78%2.41%2.71%
Earnings per shareUS$14.30US$7.61US$12.53US$12.27US$10.58US$12.58US$13.30US$13.49
Book value per shareUS$16.06US$10.94US$11.63US$6.86US$12.03US$16.29US$16.40US$20.09
ROE89.06%69.59%107.78%178.97%87.96%77.20%81.07%67.15%
ROIC14.41%11.93%11.27%24.39%20.98%22.59%24.75%22.86%
Gross margin67.25%61.53%70.02%75.66%75.16%75.77%81.35%82.73%
EBITDA margin38.77%38.45%42.45%49.32%42.48%50.11%50.85%51.41%
Net margin20.98%12.24%23.83%24.89%22.68%28.57%33.57%35.35%
Net debt/EBITDA3.193.754.482.412.292.102.012.21

AMGN financial statements

Line202520242023202220212020
Net revenueUS$36.8bnUS$33.4bnUS$28.2bnUS$26.3bnUS$26bnUS$25.4bn
Cost of sales-US$12bn-US$12.9bn-US$8.5bn-US$6.4bn-US$6.5bn-US$6.2bn
Gross profitUS$24.7bnUS$20.6bnUS$19.7bnUS$19.9bnUS$19.5bnUS$19.3bn
EBITDAUS$14.2bnUS$12.9bnUS$12bnUS$13bnUS$11bnUS$12.7bn
EBITUS$9.1bnUS$7.3bnUS$7.9bnUS$9.6bnUS$7.6bnUS$9.1bn
Net finance resultUS$2.7bnUS$506mUS$2.8bn-US$814mUS$259mUS$256m
Profit before taxUS$9bnUS$4.6bnUS$7.9bnUS$7.3bnUS$6.7bnUS$8.1bn
Income tax-US$1.3bn-US$519m-US$1.1bn-US$794m-US$808m-US$869m
Net incomeUS$7.7bnUS$4.1bnUS$6.7bnUS$6.6bnUS$5.9bnUS$7.3bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does AMGN pay dividends?

Dividend yield per year

  • 2.65%2017
  • 2.71%2018
  • 2.41%2019
  • 2.78%2020
  • 3.13%2021
  • 2.95%2022
  • 2.96%2023
  • 3.45%2024
  • 2.91%2025
  • 1.79%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend20/08/202611/09/2026US$2.52
Dividend14/05/202605/06/2026US$2.52
Dividend12/02/202606/03/2026US$2.52
Dividend20/11/202512/12/2025US$2.38
Dividend21/08/202512/09/2025US$2.38
Dividend15/05/202506/06/2025US$2.38
Dividend13/02/202507/03/2025US$2.38
Dividend15/11/202409/12/2024US$2.25
Dividend15/08/202406/09/2024US$2.25
Dividend15/05/202407/06/2024US$2.25
Dividend14/02/202407/03/2024US$2.25
Dividend15/11/202308/12/2023US$2.13
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend16/08/202308/09/2023US$2.13
Dividend16/05/202308/06/2023US$2.13
Dividend13/02/202308/03/2023US$2.13
Dividend15/11/202208/12/2022US$1.94
Dividend16/08/202208/09/2022US$1.94
Dividend13/05/202208/06/2022US$1.94
Dividend11/02/202208/03/2022US$1.94
Dividend12/11/202108/12/2021US$1.76
Dividend13/08/202108/09/2021US$1.76
Dividend13/05/202108/06/2021US$1.76
Dividend11/02/202108/03/2021US$1.76
Dividend12/11/202008/12/2020US$1.60
Dividend13/08/202008/09/2020US$1.60
Dividend14/05/202008/06/2020US$1.60
Dividend12/02/202006/03/2020US$1.60
Dividend13/11/201906/12/2019US$1.45
Dividend13/08/201906/09/2019US$1.45
Dividend15/05/201907/06/2019US$1.45
Dividend13/02/201908/03/2019US$1.45
Dividend14/11/201807/12/2018US$1.32
Dividend15/08/201807/09/2018US$1.32
Dividend15/05/201808/06/2018US$1.32
Dividend13/02/201808/03/2018US$1.32
Dividend15/11/201708/12/2017US$1.15
Dividend14/08/201708/09/2017US$1.15
Dividend12/05/201708/06/2017US$1.15
Dividend10/02/201708/03/2017US$1.15
Dividend11/11/201608/12/2016US$1.00

About Amgen

Sector
Manufacturing

Questions about AMGN

How much is AMGN today?

AMGN is at US$421.51 (-0.50% on the day), last traded on 30/09/2026.

How much did AMGN pay in dividends in 2025?

AMGN paid US$9.52 per share in 2025, a dividend yield of 2.91%.

What are the P/E and P/B of AMGN?

AMGN trades at a P/E of 26.06 and a P/B of 19.50.

How much did AMGN return in 12 months?

AMGN returned 45.16% in 12 months, with annualised volatility of 28.99% and a largest drawdown of -12.58%.