AMGN Stock Analysis: Amgen | NASDAQ
Drug Manufacturers - General | NASDAQ, USA | Market Cap: 248.971m USD | 12M Return: 47.7% | US0311621009 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 1.24B
EPS Trend: 96.7%
Qual. Beats: 9
Rev. Trend: 98.3%
Qual. Beats: 2
Warnings
Tailwinds
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Amgen Inc. is a global biopharmaceutical company that discovers, develops, manufactures, and delivers human therapeutics, operating within the biotechnology sub-industry of the healthcare sector. The company markets a broad portfolio of biologic and small-molecule therapies spanning oncology, inflammation, bone health, cardiovascular disease, hematology, and rare diseases, including blockbusters such as Enbrel, Prolia, Repatha, Otezla, and KYPROLIS. As one of the largest independent biotechnology firms, Amgen is distinguished by its focus on biologic medicines rather than traditional small-molecule drugs.
Amgen distributes its products primarily through pharmaceutical wholesale distributors, serving healthcare providers such as physicians, dialysis centers, hospitals, and pharmacies. The company pursues a strategy of pairing internally developed therapies with external collaboration and licensing deals, including partnerships with AstraZeneca for TEZSPIRE, UCB for EVENITY, and Kyowa Kirin for rocatinlimab. Founded in 1980 and headquartered in the United States, Amgen has been publicly traded since 1983 and operates at mega-cap scale, reflecting its position among the worlds largest biotechnology companies.
- MariTide obesity drug faces competitive pressure from Lilly and Novo
- Enbrel and Prolia biosimilar erosion weighs on legacy franchise revenue
- Horizon Therapeutics acquisition adds debt and rare disease growth
| Net Income: 9.39b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -2.83 > 1.0 |
| NWC/Revenue: 28.59% < 20% (prev 16.95%; Δ 11.65% < -1%) |
| CFO/TA 0.13 > 3% & CFO 12.0b > Net Income 9.39b |
| Net Debt (40.8b) to EBITDA (18.2b): 2.25 < 3 |
| Current Ratio: 1.48 > 1.5 & < 3 |
| Outstanding Shares: last quarter (546.0m) vs 12m ago 0.74% < -2% |
| Gross Margin: 73.97% > 18% (prev 66.15%; Δ 7.83% > 0.5%) |
| Asset Turnover: 41.82% > 50% (prev 39.89%; Δ 1.93% > 0%) |
| Interest Coverage Ratio: 5.19 > 6 (EBIT TTM 13.7b / Interest Expense TTM 2.64b) |
| A: 0.12 (Total Current Assets 34.4b - Total Current Liabilities 23.2b) / Total Assets 96.0b |
| B: -0.21 (Retained Earnings -19.8b / Total Assets 96.0b) |
| C: 0.15 (EBIT TTM 13.7b / Avg Total Assets 93.1b) |
| D: 0.18 (Book Value of Equity 14.4b / Total Liabilities 81.7b) |
| Altman-Z'' = 1.26 = BB |
| DSRI: 1.13 (Receivables 10.4b/8.49b, Revenue 38.9b/36.0b) |
| GMI: 0.89 (GM 66.15% / 73.97%) |
| AQI: 0.90 (AQ_t 0.55 / AQ_t-1 0.61) |
| SGI: 1.08 (Revenue 38.9b / 36.0b) |
| TATA: -0.03 (NI 9.39b - CFO 12.0b) / TA 96.0b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of November 12, 2026, the stock is trading at USD 465.23 with a total of 2,138,955 shares traded. Over the past week, the price has changed by +0.86%, over one month by +11.41%, over three months by +12.16% and over the past year by +47.73%.
Current recommended Stop Loss: 436.10 (which is 6.3% or 2.3 ATR below the current price).
Amgen has received a consensus analysts rating of 3.35. Therefore, it is recommended to hold AMGN.
- StrongBuy: 8
- Buy: 4
- Hold: 17
- Sell: 2
- StrongSell: 3
| Analysts Target Price | 404.3 | -13.1% |
P/E Trailing = 26.6829
P/E Forward = 19.4175
P/S = 6.3998
P/B = 18.0241
P/EG = 2.8534
Revenue TTM = 38.9b USD
EBIT TTM = 13.7b USD
EBITDA TTM = 18.2b USD
Long Term Debt = 51.6b USD (from longTermDebt, last quarter)
Short Term Debt = 2.40b USD (from shortTermDebt, last quarter)
Debt = 54.0b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 40.8b USD (calculated: Debt 54.0b - CCE 13.2b)
Enterprise Value = 290b USD (249b + Debt 54.0b - CCE 13.2b)
Interest Coverage Ratio = 5.19 (Ebit TTM 13.7b / Interest Expense TTM 2.64b)
EV/FCF = 30.25x (Enterprise Value 290b / FCF TTM 9.58b)
FCF Yield = 3.31% (FCF TTM 9.58b / Enterprise Value 290b)
FCF Margin = 24.61% (FCF TTM 9.58b / Revenue TTM 38.9b)
Net Margin = 24.12% (Net Income TTM 9.39b / Revenue TTM 38.9b)
Gross Margin = 73.97% ((Revenue TTM 38.9b - Cost of Revenue TTM 10.1b) / Revenue TTM)
Gross Margin QoQ = 73.10% (prev 72.04%)
Tobins Q-Ratio = 3.02 (Enterprise Value 290b / Total Assets 96.0b)
Interest Expense / Debt = 4.88% (Interest Expense 2.64b / Debt 54.0b)
Taxrate = 15.03% (1.66b / 11.1b)
NOPAT = 11.6b (EBIT 13.7b * (1 - 15.03%))
Current Ratio = 1.48 (Total Current Assets 34.4b / Total Current Liabilities 23.2b)
Debt / Equity = 3.76 (Debt 54.0b / totalStockholderEquity, last quarter 14.4b)
Debt / EBITDA = 2.25 (Net Debt 40.8b / EBITDA 18.2b)
Debt / FCF = 4.26 (Net Debt 40.8b / FCF TTM 9.58b)
Total Stockholder Equity = 11.0b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.09% (Net Income 9.39b / Total Assets 96.0b)
RoE = 85.59% (Net Income TTM 9.39b / Total Stockholder Equity 11.0b)
RoCE = 21.87% (EBIT 13.7b / Capital Employed (Equity 11.0b + L.T.Debt 51.6b))
RoIC = 15.87% (NOPAT 11.6b / Invested Capital 73.3b)
WACC = 5.78% (E(249b)/V(303b) * Re(6.13%) + D(54.0b)/V(303b) * Rd(4.88%) * (1-Tc(0.15)))
Discount Rate = 6.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.70 | Cagr: 0.41%
[DCF] Terminal Value 73.10% ; FCFF base≈10.4b ; Y1≈9.09b ; Y5≈7.34b
[DCF] Fair Price = 142.4 (EV 118b - Net Debt 40.8b = Equity 77.1b / Shares 540.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 96.71 | EPS CAGR: 9.11% | SUE: 4.0 | # QB: 9
Revenue Correlation: 98.32 | Revenue CAGR: 11.84% | SUE: 1.25 | # QB: 2
EPS current Quarter (2027-03-31): EPS=5.68 | Chg30d=+1.37% | Revisions=+17% | Analysts=9
EPS current Year (2026-12-31): EPS=23.33 | Chg30d=+1.17% | Revisions=-11% | GrowthEPS=+6.8% | GrowthRev=+7.0%
EPS next Year (2027-12-31): EPS=24.63 | Chg30d=+0.73% | Revisions=+32% | GrowthEPS=+5.6% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: +13% (up=20, down=15)