AMGN Stock Analysis: Amgen | NASDAQ
Drug Manufacturers - General | NASDAQ, USA | Market Cap: 220.636m USD | 12M Return: 46.5% | US0311621009 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 943M
EPS Trend: 96.7%
Qual. Beats: 8
Rev. Trend: 98.2%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Amgen is a global biotechnology company that discovers, develops, manufactures, and commercializes human therapeutics across a broad range of disease areas, including autoimmune disorders, oncology, cardiovascular disease, osteoporosis, and rare conditions. Its marketed portfolio spans well-established franchises such as Enbrel (rheumatoid arthritis and psoriasis), Prolia/XGEVA (osteoporosis and bone-related events), Repatha (cholesterol-related cardiovascular risk), KYPROLIS (multiple myeloma), and TEPEZZA (thyroid eye disease), alongside newer offerings like IMDELLTRA and TAVNEOS. As one of the worlds largest independent biotechnology companies, the business model depends on heavy research and development investment, long product lifecycles under patent protection, and recurring revenue from biologics administered in clinical settings.
The company sells primarily to healthcare providers, including physicians, dialysis centers, hospitals, and pharmacies, channeling distribution through pharmaceutical wholesale distributors. Amgen has also built a network of collaboration and co-development agreements with partners such as AstraZeneca (TEZSPIRE), BeiGene (oncology), UCB (EVENITY), Kyowa Kirin (rocatinlimab), and BeOne Medicines (Aimovig), which extend its reach into geographies and indications it does not fully cover on its own.
The company was incorporated in 1980 and has been publicly traded since its 1983 IPO on NASDAQ under the ticker AMGN.
- MariTide obesity drug pivotal trial results drive valuation
- Prolia and Enbrel biosimilars pressure legacy franchise sales
- IRA Medicare price negotiations impact Part D revenue
| Net Income: 8.74b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -1.43 > 1.0 |
| NWC/Revenue: 24.81% < 20% (prev 17.93%; Δ 6.88% < -1%) |
| CFO/TA 0.13 > 3% & CFO 12.5b > Net Income 8.74b |
| Net Debt (43.3b) to EBITDA (17.8b): 2.43 < 3 |
| Current Ratio: 1.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (544.0m) vs 12m ago 0.55% < -2% |
| Gross Margin: 72.65% > 18% (prev 64.47%; Δ 8.18% > 0.5%) |
| Asset Turnover: 41.54% > 50% (prev 39.71%; Δ 1.83% > 0%) |
| Interest Coverage Ratio: 4.74 > 6 (EBIT TTM 12.6b / Interest Expense TTM 2.67b) |
| A: 0.10 (Total Current Assets 35.0b - Total Current Liabilities 25.5b) / Total Assets 95.6b |
| B: -0.23 (Retained Earnings -22.3b / Total Assets 95.6b) |
| C: 0.14 (EBIT TTM 12.6b / Avg Total Assets 91.8b) |
| D: 0.14 (Book Value of Equity 11.7b / Total Liabilities 84.0b) |
| Altman-Z'' = 0.96 = BB |
| DSRI: 1.08 (Receivables 10.2b/8.70b, Revenue 38.1b/34.9b) |
| GMI: 0.89 (GM 64.47% / 72.65%) |
| AQI: 0.88 (AQ_t 0.55 / AQ_t-1 0.62) |
| SGI: 1.09 (Revenue 38.1b / 34.9b) |
| TATA: -0.04 (NI 8.74b - CFO 12.5b) / TA 95.6b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of August 07, 2026, the stock is trading at USD 404.85 with a total of 2,437,017 shares traded. Over the past week, the price has changed by +4.44%, over one month by +10.48%, over three months by +23.19% and over the past year by +46.49%.
Current recommended Stop Loss: 390.90 (which is 3.4% or 1.2 ATR below the current price).
Amgen has received a consensus analysts rating of 3.63. Therefore, it is recommended to hold AMGN.
- StrongBuy: 10
- Buy: 5
- Hold: 14
- Sell: 1
- StrongSell: 2
| Analysts Target Price | 357 | -11.8% |
P/E Trailing = 28.4004
P/E Forward = 17.331
P/S = 5.9279
P/B = 22.6196
P/EG = 2.1139
Revenue TTM = 38.1b USD
EBIT TTM = 12.6b USD
EBITDA TTM = 17.8b USD
Long Term Debt = 50.0b USD (from longTermDebt, last fiscal year)
Short Term Debt = 5.45b USD (from shortTermDebt, last quarter)
Debt = 57.3b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 43.3b USD (calculated: Debt 57.3b - CCE 14.0b)
Enterprise Value = 264b USD (221b + Debt 57.3b - CCE 14.0b)
Interest Coverage Ratio = 4.74 (Ebit TTM 12.6b / Interest Expense TTM 2.67b)
EV/FCF = 25.94x (Enterprise Value 264b / FCF TTM 10.2b)
FCF Yield = 3.85% (FCF TTM 10.2b / Enterprise Value 264b)
FCF Margin = 26.69% (FCF TTM 10.2b / Revenue TTM 38.1b)
Net Margin = 22.93% (Net Income TTM 8.74b / Revenue TTM 38.1b)
Gross Margin = 72.65% ((Revenue TTM 38.1b - Cost of Revenue TTM 10.4b) / Revenue TTM)
Gross Margin QoQ = 72.04% (prev 68.16%)
Tobins Q-Ratio = 2.76 (Enterprise Value 264b / Total Assets 95.6b)
Interest Expense / Debt = 4.66% (Interest Expense 2.67b / Debt 57.3b)
Taxrate = 15.01% (1.54b / 10.3b)
NOPAT = 10.7b (EBIT 12.6b * (1 - 15.01%))
Current Ratio = 1.37 (Total Current Assets 35.0b / Total Current Liabilities 25.5b)
Debt / Equity = 4.90 (Debt 57.3b / totalStockholderEquity, last quarter 11.7b)
Debt / EBITDA = 2.43 (Net Debt 43.3b / EBITDA 17.8b)
Debt / FCF = 4.26 (Net Debt 43.3b / FCF TTM 10.2b)
Total Stockholder Equity = 9.79b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.53% (Net Income 8.74b / Total Assets 95.6b)
RoE = 89.32% (Net Income TTM 8.74b / Total Stockholder Equity 9.79b)
RoCE = 21.15% (EBIT 12.6b / Capital Employed (Equity 9.79b + L.T.Debt 50.0b))
RoIC = 14.59% (NOPAT 10.7b / Invested Capital 73.7b)
WACC = 5.82% (E(221b)/V(278b) * Re(6.31%) + D(57.3b)/V(278b) * Rd(4.66%) * (1-Tc(0.15)))
Discount Rate = 6.31% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 79.20 | Cagr: 0.66%
[DCF] Terminal Value 74.87% ; FCFF base≈10.3b ; Y1≈10.0b ; Y5≈9.92b
[DCF] Fair Price = 207.4 (EV 156b - Net Debt 43.3b = Equity 112b / Shares 541.0m; r=8.35% [WACC [floored]]; 5y FCF grow -4.05% → 2.50% )
EPS Correlation: 96.74 | EPS CAGR: 9.14% | SUE: 2.73 | # QB: 8
Revenue Correlation: 98.18 | Revenue CAGR: 13.24% | SUE: 3.08 | # QB: 1
EPS current Quarter (2026-09-30): EPS=5.76 | Chg30d=+0.08% | Revisions=-42% | Analysts=23
EPS current Year (2026-12-31): EPS=22.35 | Chg30d=-0.16% | Revisions=-59% | GrowthEPS=+2.3% | GrowthRev=+2.7%
EPS next Year (2027-12-31): EPS=23.44 | Chg30d=-0.16% | Revisions=-13% | GrowthEPS=+4.9% | GrowthRev=+2.5%
[Analyst] Revisions Ratio: -45% (up=9, down=26)