(AMGN) Amgen - Ratings and Ratios
Biologics, Biosimilars, Oncology, Osteoporosis, Autoimmune
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 3.21% |
| Yield on Cost 5y | 5.86% |
| Yield CAGR 5y | 7.84% |
| Payout Consistency | 100.0% |
| Payout Ratio | 44.2% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 28.6% |
| Value at Risk 5%th | 41.3% |
| Relative Tail Risk | -12.29% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.82 |
| Alpha | 14.91 |
| CAGR/Max DD | 0.67 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.501 |
| Beta | 0.442 |
| Beta Downside | 0.333 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.74% |
| Mean DD | 7.68% |
| Median DD | 6.57% |
Description: AMGN Amgen January 27, 2026
Amgen Inc. (NASDAQ: AMGN) is a U.S.-based biotechnology firm that discovers, develops, manufactures, and markets a broad portfolio of human therapeutics, ranging from biologics such as Enbrel and Repatha to small-molecule drugs like Otezla and KRYSTEXXA. The company serves physicians, hospitals, dialysis centers, and pharmacies through both wholesale distributors and direct-to-consumer channels, and it maintains strategic collaborations with AstraZeneca, Novartis, UCB, Kyowa Kirin, and BeiGene to expand its oncology and rare-disease pipelines.
Key products generating the bulk of revenue include Enbrel (rheumatoid arthritis), Repatha (cardiovascular risk reduction), Prolia/EVENITY (osteoporosis), and newer entrants like LUMAKRAS (KRAS-G12C lung cancer) and TEZSPIRE (multiple sclerosis). In 2023, Amgen reported that these four brands together accounted for roughly 55 % of total sales, underscoring a concentration risk that the company mitigates through ongoing pipeline diversification.
According to Amgen’s Q4 2023 earnings release (ended 31 Dec 2023), the firm posted total revenue of **$7.9 billion**, a **5 % year-over-year increase** driven primarily by higher sales of Repatha and LUMAKRAS. Adjusted earnings per share rose to **$7.31**, while research-and-development spending reached **$3.2 billion**, representing about **40 % of revenue**-a level consistent with the biotech sector’s capital-intensive nature. The company’s free cash flow remained robust at **$2.1 billion**, supporting a dividend yield of roughly **3.2 %**.
Macro-level drivers affecting Amgen’s outlook include: (1) an aging U.S. population that expands demand for chronic-disease biologics; (2) accelerating biosimilar competition, which pressures pricing on legacy products like Enbrel; and (3) a sustained increase in biotech R&D investment, with industry-wide R&D intensity averaging **≈ 35 % of sales**, aligning with Amgen’s own spending pattern. These factors suggest that while revenue growth may be modest, the company’s pipeline-driven launches and partnership model are critical levers for future upside.
For a deeper quantitative assessment of Amgen’s valuation dynamics, you might explore the analytical tools available on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income: 7.00b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 5.89 > 1.0 |
| NWC/Revenue: 16.95% < 20% (prev 19.84%; Δ -2.89% < -1%) |
| CFO/TA 0.15 > 3% & CFO 13.13b > Net Income 7.00b |
| Net Debt (45.14b) to EBITDA (16.54b): 2.73 < 3 |
| Current Ratio: 1.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (542.0m) vs 12m ago 0.0% < -2% |
| Gross Margin: 66.15% > 18% (prev 0.60%; Δ 6554 % > 0.5%) |
| Asset Turnover: 39.73% > 50% (prev 35.80%; Δ 3.93% > 0%) |
| Interest Coverage Ratio: 3.88 > 6 (EBITDA TTM 16.54b / Interest Expense TTM 2.86b) |
Altman Z'' 0.53
| A: 0.07 (Total Current Assets 27.89b - Total Current Liabilities 21.79b) / Total Assets 90.14b |
| B: -0.26 (Retained Earnings -23.80b / Total Assets 90.14b) |
| C: 0.12 (EBIT TTM 11.11b / Avg Total Assets 90.51b) |
| D: 0.12 (Book Value of Equity 9.62b / Total Liabilities 80.52b) |
| Altman-Z'' Score: 0.53 = B |
Beneish M -3.08
| DSRI: 1.05 (Receivables 8.49b/7.32b, Revenue 35.96b/32.53b) |
| GMI: 0.91 (GM 66.15% / 60.48%) |
| AQI: 0.96 (AQ_t 0.61 / AQ_t-1 0.64) |
| SGI: 1.11 (Revenue 35.96b / 32.53b) |
| TATA: -0.07 (NI 7.00b - CFO 13.13b) / TA 90.14b) |
| Beneish M-Score: -3.08 (Cap -4..+1) = AA |
What is the price of AMGN shares?
Over the past week, the price has changed by -0.40%, over one month by +3.82%, over three months by +18.00% and over the past year by +26.06%.
Is AMGN a buy, sell or hold?
- StrongBuy: 10
- Buy: 5
- Hold: 14
- Sell: 1
- StrongSell: 2
What are the forecasts/targets for the AMGN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 331.6 | -3.1% |
| Analysts Target Price | 331.6 | -3.1% |
| ValueRay Target Price | 400.8 | 17.1% |
AMGN Fundamental Data Overview January 24, 2026
P/E Forward = 15.674
P/S = 5.1956
P/B = 19.4293
P/EG = 1.0849
Revenue TTM = 35.96b USD
EBIT TTM = 11.11b USD
EBITDA TTM = 16.54b USD
Long Term Debt = 52.43b USD (from longTermDebt, last quarter)
Short Term Debt = 2.15b USD (from shortTermDebt, last quarter)
Debt = 54.59b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 45.14b USD (from netDebt column, last quarter)
Enterprise Value = 232.03b USD (186.89b + Debt 54.59b - CCE 9.45b)
Interest Coverage Ratio = 3.88 (Ebit TTM 11.11b / Interest Expense TTM 2.86b)
EV/FCF = 20.11x (Enterprise Value 232.03b / FCF TTM 11.54b)
FCF Yield = 4.97% (FCF TTM 11.54b / Enterprise Value 232.03b)
FCF Margin = 32.09% (FCF TTM 11.54b / Revenue TTM 35.96b)
Net Margin = 19.48% (Net Income TTM 7.00b / Revenue TTM 35.96b)
Gross Margin = 66.15% ((Revenue TTM 35.96b - Cost of Revenue TTM 12.17b) / Revenue TTM)
Gross Margin QoQ = 67.75% (prev 67.15%)
Tobins Q-Ratio = 2.57 (Enterprise Value 232.03b / Total Assets 90.14b)
Interest Expense / Debt = 1.25% (Interest Expense 685.0m / Debt 54.59b)
Taxrate = 17.98% (705.0m / 3.92b)
NOPAT = 9.11b (EBIT 11.11b * (1 - 17.98%))
Current Ratio = 1.28 (Total Current Assets 27.89b / Total Current Liabilities 21.79b)
Debt / Equity = 5.67 (Debt 54.59b / totalStockholderEquity, last quarter 9.62b)
Debt / EBITDA = 2.73 (Net Debt 45.14b / EBITDA 16.54b)
Debt / FCF = 3.91 (Net Debt 45.14b / FCF TTM 11.54b)
Total Stockholder Equity = 7.28b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.74% (Net Income 7.00b / Total Assets 90.14b)
RoE = 96.19% (Net Income TTM 7.00b / Total Stockholder Equity 7.28b)
RoCE = 18.60% (EBIT 11.11b / Capital Employed (Equity 7.28b + L.T.Debt 52.43b))
RoIC = 14.16% (NOPAT 9.11b / Invested Capital 64.35b)
WACC = 6.07% (E(186.89b)/V(241.48b) * Re(7.54%) + D(54.59b)/V(241.48b) * Rd(1.25%) * (1-Tc(0.18)))
Discount Rate = 7.54% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 81.65 | Cagr: 0.19%
[DCF Debug] Terminal Value 86.17% ; FCFF base≈9.44b ; Y1≈9.95b ; Y5≈11.70b
Fair Price DCF = 526.2 (EV 328.50b - Net Debt 45.14b = Equity 283.36b / Shares 538.5m; r=6.07% [WACC]; 5y FCF grow 5.91% → 2.90% )
EPS Correlation: 68.70 | EPS CAGR: 7.11% | SUE: 2.23 | # QB: 5
Revenue Correlation: 89.96 | Revenue CAGR: 9.30% | SUE: 4.0 | # QB: 2
EPS next Quarter (2026-03-31): EPS=5.12 | Chg30d=+0.080 | Revisions Net=+2 | Analysts=11
EPS next Year (2026-12-31): EPS=22.05 | Chg30d=+0.119 | Revisions Net=+2 | Growth EPS=+3.7% | Growth Revenue=+1.7%