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 headquartered in Thousand Oaks, California.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $36.8B | $16.9B | $7.7B | $8.1B | 89.1% | 10.0% | 88.5% |
| 2024 | $33.4B | $13.4B | $4.1B | $10.4B | 69.6% | 18.6% | -39.1% |
| 2023 | $28.2B | $14.8B | $6.7B | $7.4B | 107.8% | 7.1% | 2.5% |
| 2022 | $26.3B | $12.2B | $6.6B | $8.8B | 179.0% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 26,323 | 28,190 | 33,424 | 36,751 |
| Operating Revenue | - | 24,801 | 26,910 | 32,026 | 35,148 |
| Cost Of Revenue | - | 6,406 | 8,451 | 12,858 | 12,037 |
| Gross Profit | - | 19,917 | 19,739 | 20,566 | 24,714 |
| Operating Expense | - | 10,351 | 11,842 | 13,308 | 15,634 |
| Research And Development | - | 4,434 | 4,784 | 5,964 | 7,272 |
| Selling General And Administration | - | 5,414 | 6,179 | 7,096 | 7,050 |
| Total Expenses | - | 16,757 | 20,293 | 26,166 | 27,671 |
| Operating Income | - | 9,566 | 7,897 | 7,258 | 9,080 |
| Total Operating Income As Reported | - | 9,566 | 7,897 | 7,258 | 9,080 |
| EBITDA | - | 12,169 | 14,801 | 13,356 | 16,898 |
| Normalized EBITDA | - | 12,169 | 14,801 | 13,356 | 16,898 |
| EBIT | - | 8,752 | 10,730 | 7,764 | 11,731 |
| Interest Expense | - | 1,406 | 2,875 | 3,155 | 2,755 |
| Net Interest Income | - | -1,406 | -2,875 | -3,155 | -2,755 |
| Other Non Operating Income Expenses | - | -814 | 2,833 | 506 | 2,651 |
| Other Income Expense | - | -814 | 2,833 | 506 | 2,651 |
| Interest Expense Non Operating | - | 1,406 | 2,875 | 3,155 | 2,755 |
| Net Non Operating Interest Income Expense | - | -1,406 | -2,875 | -3,155 | -2,755 |
| Pretax Income | - | 7,346 | 7,855 | 4,609 | 8,976 |
| Tax Provision | - | 794 | 1,138 | 519 | 1,265 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Net Income From Continuing And Discontinued Operation | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Net Income From Continuing Operation Net Minority Interest | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Net Income | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Net Income Common Stockholders | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Net Income Including Noncontrolling Interests | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Normalized Income | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Diluted NI Availto Com Stockholders | - | 6,552 | 6,717 | 4,090 | 7,711 |
| Basic Average Shares | - | 538 | 535 | 537 | 538 |
| Diluted Average Shares | - | 541 | 538 | 541 | 542 |
| Reconciled Depreciation | - | 3,417 | 4,071 | 5,592 | 5,167 |
| Reconciled Cost Of Revenue | - | 6,406 | 8,451 | 12,858 | 12,037 |
| Total Unusual Items | -1,505 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -1,505 | 0 | 0 | - | - |
| Special Income Charges | -1,505 | 0 | 0 | - | - |
| Other Special Charges | 1,505 | - | - | - | - |
| Other Operating Expenses | - | 503 | 879 | 248 | 1,312 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Amgen Inc.this co. | AMGN | $186.5B | 24.19 | 21.54 | 89.1% | 13.73 |
| Thermo Fisher Scientific Inc. | TMO | $179.1B | 26.72 | 3.35 | 12.6% | 18.11 |
| Gilead Sciences, Inc. | GILD | $160.4B | 18.85 | 7.06 | 37.5% | 12.94 |
| Abbott Laboratories | ABT | $158.1B | 24.24 | 3.03 | 12.5% | 13.54 |
| Intuitive Surgical, Inc. | ISRG | $148.3B | 51.94 |
| - |
| - |
| - |
| - |
| 8.32 |
| 16.0% |
| 39.33 |
| Pfizer Inc. | PFE | $146.4B | 18.84 | 1.69 | 9.0% | 12.47 |
| Danaher Corporation | DHR | $132.1B | 36.55 | 2.51 | 6.9% | 21.19 |
| CVS Health Corporation | CVS | $121.0B | 68.43 | 1.61 | 2.4% | 19.52 |
| Bristol-Myers Squibb Company | BMY | $115.6B | 16.39 | 6.26 | 38.2% | 10.01 |
| Peer Median | - | 25.48 | 3.19 | 12.5% | 15.82 | |
Historically, Jul has averaged the highest return (+4.1%); Apr the lowest (-3.3%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +4.5%Positive MonthJan 2026: +4.45% | +13.5%Positive MonthFeb 2026: +13.54% | -9.4%Negative MonthMar 2026: -9.35% | -1.6%Neutral MonthApr 2026: -1.59% | -2.7%Negative MonthMay 2026: -2.73% | +7.5%Positive MonthJun 2026: +7.52% | +6.4%Positive MonthJul 2026: +6.36% | +14.9%*Positive MonthAug 2026: +14.85% | — | — | — | — |
| 2025 | +9.5%Positive MonthJan 2025: +9.51% | +7.9%Positive MonthFeb 2025: +7.93% | +1.1%Neutral MonthMar 2025: +1.13% | -6.6%Negative MonthApr 2025: -6.62% | -0.9%Neutral MonthMay 2025: -0.94% | -3.1%Negative MonthJun 2025: -3.11% | +5.7%Positive MonthJul 2025: +5.69% | -2.5%Negative MonthAug 2025: -2.50% | -1.9%Neutral MonthSep 2025: -1.92% | +5.8%Positive MonthOct 2025: +5.75% | +15.8%Positive MonthNov 2025: +15.76% | -5.3%Negative MonthDec 2025: -5.25% |
| 2024 | +9.1%Positive MonthJan 2024: +9.11% | -12.9%Negative MonthFeb 2024: -12.87% | +3.8%Positive MonthMar 2024: +3.83% | -3.7%Negative MonthApr 2024: -3.65% | +11.6%Positive MonthMay 2024: +11.65% | +2.2%Positive MonthJun 2024: +2.16% | +6.4%Positive MonthJul 2024: +6.41% | +0.4%Neutral MonthAug 2024: +0.41% | -3.5%Negative MonthSep 2024: -3.48% | -0.6%Neutral MonthOct 2024: -0.64% | -11.6%Negative MonthNov 2024: -11.65% | -7.9%Negative MonthDec 2024: -7.86% |
| 2023 | -3.9%Negative MonthJan 2023: -3.90% | -8.2%Negative MonthFeb 2023: -8.22% | +4.4%Positive MonthMar 2023: +4.36% | -0.8%Neutral MonthApr 2023: -0.83% | -8.0%Negative MonthMay 2023: -7.96% | +0.6%Neutral MonthJun 2023: +0.62% | +5.5%Positive MonthJul 2023: +5.46% | +9.5%Positive MonthAug 2023: +9.48% | +4.8%Positive MonthSep 2023: +4.85% | -4.9%Negative MonthOct 2023: -4.86% | +5.5%Positive MonthNov 2023: +5.45% | +6.8%Positive MonthDec 2023: +6.82% |
| 2022 | +1.0%Neutral MonthJan 2022: +0.96% | -0.3%Neutral MonthFeb 2022: -0.29% | +6.8%Positive MonthMar 2022: +6.77% | -3.6%Negative MonthApr 2022: -3.57% | +10.1%Positive MonthMay 2022: +10.10% | -5.2%Negative MonthJun 2022: -5.23% | +1.7%Neutral MonthJul 2022: +1.71% | -2.9%Negative MonthAug 2022: -2.90% | -6.2%Negative MonthSep 2022: -6.20% | +19.9%Positive MonthOct 2022: +19.94% | +5.9%Positive MonthNov 2022: +5.94% | -8.3%Negative MonthDec 2022: -8.30% |
| 2021 | — | — | — | — | -0.7%Neutral MonthMay 2021: -0.71% | +2.4%Positive MonthJun 2021: +2.44% | -0.9%Neutral MonthJul 2021: -0.91% | -6.6%Negative MonthAug 2021: -6.63% | -5.7%Negative MonthSep 2021: -5.71% | -2.7%Negative MonthOct 2021: -2.67% | -3.9%Negative MonthNov 2021: -3.91% | +13.1%Positive MonthDec 2021: +13.12% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.