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Amgen

DB:AMG
Snowflake Description

Proven track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AMG
DB
$111B
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The last earnings update was 70 days ago. More info.


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AMG Share Price and Events
7 Day Returns
-1.2%
DB:AMG
-0.1%
DE Biotechs
1%
DE Market
1 Year Returns
13.6%
DB:AMG
-7.4%
DE Biotechs
-5.6%
DE Market
AMG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Amgen (AMG) -1.2% -2.2% -9.5% 13.6% 12.9% 100.5%
DE Biotechs -0.1% 6% -6.7% -7.4% 53.2% 11.6%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • AMG outperformed the Biotechs industry which returned -7.4% over the past year.
  • AMG outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
AMG
Industry
5yr Volatility vs Market
Related Companies

AMG Value

 Is Amgen undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Amgen to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Amgen.

DB:AMG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:AMG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.453 (1 + (1- 21%) (30.64%))
1.539
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.54
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.539 * 5.96%)
9.4%

Discounted Cash Flow Calculation for DB:AMG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Amgen is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:AMG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.4%)
2019 9,272.60 Analyst x5 8,475.79
2020 9,690.50 Analyst x6 8,096.62
2021 9,966.75 Analyst x4 7,611.85
2022 10,025.75 Analyst x4 6,998.94
2023 10,020.25 Analyst x4 6,394.01
2024 10,023.25 Est @ 0.03% 5,846.31
2025 10,032.21 Est @ 0.09% 5,348.71
2026 10,045.35 Est @ 0.13% 4,895.49
2027 10,061.43 Est @ 0.16% 4,481.98
2028 10,079.58 Est @ 0.18% 4,104.23
Present value of next 10 years cash flows $62,253.93
DB:AMG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $10,079.58 × (1 + 0.23%) ÷ (9.4% – 0.23%)
$110,134.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $110,134.27 ÷ (1 + 9.4%)10
$44,844.73
DB:AMG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $62,253.93 + $44,844.73
$107,098.66
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $107,098.66 / 615.95
$173.88
DB:AMG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AMG represents 0.89849x of NasdaqGS:AMGN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89849x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 173.88 x 0.89849
€156.23
Value per share (EUR) From above. €156.23
Current discount Discount to share price of €160.20
= -1 x (€160.20 - €156.23) / €156.23
-2.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Amgen is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Amgen's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Amgen's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AMG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $12.70
NasdaqGS:AMGN Share Price ** NasdaqGS (2019-04-24) in USD $178.3
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.73x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Amgen.

DB:AMG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:AMGN Share Price ÷ EPS (both in USD)

= 178.3 ÷ 12.70

14.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amgen is good value based on earnings compared to the Europe Biotechs industry average.
  • Amgen is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Amgen's expected growth come at a high price?
Raw Data
DB:AMG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
3.9%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:AMG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.04x ÷ 3.9%

3.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amgen is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Amgen's assets?
Raw Data
DB:AMG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $19.85
NasdaqGS:AMGN Share Price * NasdaqGS (2019-04-24) in USD $178.3
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.72x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:AMG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:AMGN Share Price ÷ Book Value per Share (both in USD)

= 178.3 ÷ 19.85

8.98x

* Primary Listing of Amgen.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amgen is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Amgen's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Amgen has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AMG Future Performance

 How is Amgen expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Amgen expected to grow at an attractive rate?
  • Amgen's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Amgen's earnings growth is positive but not above the Germany market average.
  • Amgen's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AMG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AMG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 3.9%
DB:AMG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 0.1%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.6%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:AMG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AMG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 23,667 11,728 9,666 10
2022-12-31 23,447 11,358 9,340 10
2021-12-31 23,253 11,094 8,857 13
2020-12-31 22,938 9,720 8,107 19
2019-12-31 22,839 9,661 7,734 20
DB:AMG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 23,747 11,296 8,394
2018-09-30 23,319 11,114 2,202
2018-06-30 23,188 11,295 2,364
2018-03-31 22,939 11,519 2,219
2017-12-31 22,849 11,177 1,979
2017-09-30 23,012 11,265 8,178
2017-06-30 23,050 10,473 8,174
2017-03-31 22,928 10,824 7,893
2016-12-31 22,991 10,354 7,722
2016-09-30 22,562 9,327 7,587
2016-06-30 22,474 9,557 7,433
2016-03-31 22,156 10,164 7,216

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Amgen's earnings are expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).
  • Amgen's revenue is expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:AMG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Amgen Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AMG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 16.18 17.26 14.03 5.00
2022-12-31 15.67 17.08 13.69 5.00
2021-12-31 14.73 16.30 13.21 6.00
2020-12-31 13.45 15.56 11.26 9.00
2019-12-31 12.53 14.06 11.88 9.00
DB:AMG Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 12.70
2018-09-30 3.22
2018-06-30 3.36
2018-03-31 3.07
2017-12-31 2.71
2017-09-30 11.15
2017-06-30 11.05
2017-03-31 10.61
2016-12-31 10.32
2016-09-30 10.09
2016-06-30 9.86
2016-03-31 9.54

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Amgen is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Amgen's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Amgen has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AMG Past Performance

  How has Amgen performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Amgen's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Amgen's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Amgen's 1-year earnings growth exceeds its 5-year average (324.2% vs -1.8%)
  • Amgen's earnings growth has exceeded the Europe Biotechs industry average in the past year (324.2% vs 18.2%).
Earnings and Revenue History
Amgen's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Amgen Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AMG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 23,747.00 8,394.00 5,332.00 3,737.00
2018-09-30 23,319.00 2,202.00 5,268.00 3,598.00
2018-06-30 23,188.00 2,364.00 5,145.00 3,549.00
2018-03-31 22,939.00 2,219.00 5,001.00 3,553.00
2017-12-31 22,849.00 1,979.00 4,938.00 3,562.00
2017-09-30 23,012.00 8,178.00 4,824.00 3,597.00
2017-06-30 23,050.00 8,174.00 4,898.00 3,710.00
2017-03-31 22,928.00 7,893.00 4,981.00 3,737.00
2016-12-31 22,991.00 7,722.00 5,120.00 3,840.00
2016-09-30 22,562.00 7,587.00 5,164.00 3,791.00
2016-06-30 22,474.00 7,433.00 5,164.00 3,920.00
2016-03-31 22,156.00 7,216.00 5,032.00 3,984.00
2015-12-31 21,662.00 6,939.00 4,855.00 4,006.00
2015-09-30 21,457.00 6,433.00 4,778.00 4,162.00
2015-06-30 20,765.00 5,814.00 4,747.00 4,061.00
2015-03-31 20,575.00 5,708.00 4,723.00 4,115.00
2014-12-31 20,063.00 5,158.00 4,720.00 4,248.00
2014-09-30 19,743.00 4,885.00 4,851.00 4,312.00
2014-06-30 19,460.00 5,009.00 4,887.00 4,283.00
2014-03-31 18,959.00 4,720.00 5,007.00 4,232.00
2013-12-31 18,676.00 5,081.00 5,142.00 4,083.00
2013-09-30 17,980.00 4,848.00 5,012.00 3,772.00
2013-06-30 17,551.00 4,587.00 4,894.00 3,663.00
2013-03-31 17,349.00 4,595.00 4,869.00 3,522.00
2012-12-31 17,265.00 4,345.00 4,790.00 3,380.00
2012-09-30 16,666.00 4,491.00 4,696.00 3,293.00
2012-06-30 16,291.00 3,838.00 4,690.00 3,174.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Amgen made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Amgen used its assets more efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Amgen has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Amgen's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Amgen has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AMG Health

 How is Amgen's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Amgen's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Amgen is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Amgen's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Amgen's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Amgen Company Filings, last reported 3 months ago.

DB:AMG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 12,500.00 33,929.00 29,304.00
2018-09-30 14,349.00 34,427.00 29,921.00
2018-06-30 14,909.00 34,497.00 29,395.00
2018-03-31 15,620.00 35,541.00 32,172.00
2017-12-31 25,241.00 35,342.00 41,678.00
2017-09-30 32,229.00 35,776.00 41,361.00
2017-06-30 31,722.00 35,062.00 39,227.00
2017-03-31 30,637.00 34,092.00 38,398.00
2016-12-31 29,875.00 34,596.00 38,085.00
2016-09-30 30,773.00 35,323.00 37,980.00
2016-06-30 30,133.00 33,222.00 35,034.00
2016-03-31 28,682.00 34,307.00 34,740.00
2015-12-31 28,083.00 31,429.00 31,382.00
2015-09-30 27,967.00 31,761.00 31,120.00
2015-06-30 27,484.00 31,952.00 29,993.00
2015-03-31 26,506.00 30,341.00 27,118.00
2014-12-31 25,778.00 30,715.00 27,026.00
2014-09-30 25,325.00 32,980.00 28,075.00
2014-06-30 24,382.00 33,328.00 26,188.00
2014-03-31 22,741.00 32,024.00 19,802.00
2013-12-31 22,096.00 32,128.00 19,401.00
2013-09-30 21,728.00 27,189.00 22,558.00
2013-06-30 20,594.00 23,915.00 22,018.00
2013-03-31 19,491.00 23,892.00 21,271.00
2012-12-31 19,060.00 26,529.00 24,061.00
2012-09-30 19,902.00 26,478.00 25,374.00
2012-06-30 19,239.00 24,378.00 22,475.00
  • Amgen's level of debt (271.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (145.3% vs 271.4% today).
  • Debt is well covered by operating cash flow (33.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 46.7x coverage).
X
Financial health checks
We assess Amgen's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Amgen has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AMG Dividends

 What is Amgen's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.25%
Current annual income from Amgen dividends. Estimated to be 3.47% next year.
If you bought €2,000 of Amgen shares you are expected to receive €65 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Amgen's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Amgen's dividend is below the markets top 25% of dividend payers in Germany (3.7%).
Upcoming dividend payment

Purchase Amgen before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:AMG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:AMG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 8.66 1.00
2022-12-31 7.87 1.00
2021-12-31 6.61 5.00
2020-12-31 6.09 10.00
2019-12-31 5.71 11.00
DB:AMG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-07 5.800 3.082
2018-12-07 5.800 3.032
2018-10-23 5.280 2.723
2018-07-31 5.280 2.638
2018-03-07 5.280 2.926
2017-12-12 5.280 2.897
2017-10-24 4.600 2.650
2017-07-28 4.600 2.565
2017-03-07 4.600 2.763
2016-12-20 4.600 2.862
2016-10-14 4.000 2.710
2016-07-22 4.000 2.345
2016-03-02 4.000 2.596
2015-12-15 4.000 2.627
2015-07-28 3.160 2.025
2015-03-04 3.160 1.974
2014-12-17 3.160 2.010
2014-10-17 2.440 1.531
2014-07-25 2.440 1.814
2014-03-05 2.440 2.070
2013-12-13 2.440 2.057
2013-10-16 1.880 1.641
2013-07-26 1.880 1.699
2013-03-06 1.880 1.848
2012-12-13 1.880 2.163
2012-10-11 1.440 1.653
2012-07-19 1.440 1.736
2012-03-15 1.440 2.054
2011-12-15 1.440 2.161
2011-10-13 1.120 1.965
2011-07-29 1.120 2.069

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Amgen has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Amgen only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Amgen's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Amgen's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Amgen afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Amgen has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AMG Management

 What is the CEO of Amgen's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Bradway
COMPENSATION $16,899,789
AGE 55
TENURE AS CEO 6.9 years
CEO Bio

Mr. Robert A. Bradway, also known as Bob, has been the Chief Executive Officer of Amgen Inc. since May 23, 2012 and has been its President from May 2010 . Mr. Bradway is responsible for the Amgen's global commercial operations, manufacturing operations, information technology, global government affairs and worldwide compliance and business ethics organizations. He served as the Chief Operating Officer of Amgen from May 2010 to May 23, 2012. He served as the Chief Financial Officer and Executive Vice President at Amgen Inc. from April 10, 2007 to May 2010. Mr. Bradway joined Amgen in 2006 and served as its Vice President of Operations Strategy. He served as Managing Director in investment banking at Morgan Stanley, where he was responsible for the Morgan Stanley's banking department and corporate finance activities in Europe. He joined Morgan Stanley in New York as a health care industry investment banker in 1985 and moved to London in 1990, where he served as the Head of the Morgan Stanley's international health care investment banking activities. He has been the Chairman of Amgen Inc. since January 1, 2013. He has been an Independent Director of The Boeing Company since October 14, 2016. He has been a Director at Amgen Inc. since October 2011. He serves as a Trustee of University of Southern California. He served as an Independent Director of Norfolk Southern Corporation from July 2011 to May 11, 2017. He served as a Director of Micromet, Inc. from March 2, 2012 to March 7, 2012. He is chairman of the CEO Roundtable on Cancer, a non-profit organization comprised of executives founded to have solutions to cancer treatment and prevention. He holds a B.A in Biology from Amherst College and an MBA from Harvard University.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year.
  • Bob's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Amgen management team in years:

3.8
Average Tenure
55.5
Average Age
  • The tenure for the Amgen management team is about average.
Management Team

Bob Bradway

TITLE
Chairman
COMPENSATION
$17M
AGE
55
TENURE
6.9 yrs

David Meline

TITLE
Executive VP & CFO
COMPENSATION
$6M
AGE
61
TENURE
4.8 yrs

Jon Graham

TITLE
Senior VP
COMPENSATION
$5M
AGE
57
TENURE
3.8 yrs

Esteban Santos

TITLE
Executive Vice President of Operations
AGE
50
TENURE
2.8 yrs

Mike Zahigian

TITLE
Senior VP & Chief Information Officer
TENURE
0.3 yrs

Arvind Sood

TITLE
Vice President of Investor Relations
TENURE
14.6 yrs

Cynthia Patton

TITLE
Senior VP & Chief Compliance Officer
AGE
56
TENURE
6.5 yrs

Lori Johnston

TITLE
Senior Vice President of Human Resources
AGE
53
TENURE
2.3 yrs

Joshua Ofman

TITLE
Senior Vice President of Global Health Policy
TENURE
2.3 yrs

Victoria Blatter

TITLE
Senior Vice President of U.S. Government Affairs
Board of Directors Tenure

Average tenure and age of the Amgen board of directors in years:

5.9
Average Tenure
62.5
Average Age
  • The tenure for the Amgen board of directors is about average.
Board of Directors

Bob Bradway

TITLE
Chairman
COMPENSATION
$17M
AGE
55
TENURE
6.3 yrs

Ron Sugar

TITLE
Director
COMPENSATION
$361K
AGE
69
TENURE
8.8 yrs

Robert Eckert

TITLE
Lead Independent Director
COMPENSATION
$388K
AGE
64
TENURE
2.9 yrs

Greg Garland

TITLE
Director
COMPENSATION
$365K
AGE
61
TENURE
5.5 yrs

Charles Holley

TITLE
Independent Director
COMPENSATION
$335K
AGE
61
TENURE
2.2 yrs

Frank Herringer

TITLE
Director
COMPENSATION
$426K
AGE
75
TENURE
14.9 yrs

Rebecca Henderson

TITLE
Director
COMPENSATION
$350K
AGE
57
TENURE
9.8 yrs

Tyler Jacks

TITLE
Director
COMPENSATION
$344K
AGE
57
TENURE
6.9 yrs

R. Williams

TITLE
Director
COMPENSATION
$340K
AGE
69
TENURE
4.5 yrs

Fred Hassan

TITLE
Director
COMPENSATION
$340K
AGE
72
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Amgen's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Amgen has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AMG News

Simply Wall St News

AMG Company Info

Description

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company’s products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells. It also markets other products in various markets, including Kyprolis, Nplate, Vectibix, Repatha, NEUPOGEN, Parsabiv, Blincyto, Aimovig, Imlygic, Corlanor, Kanjintitm, and Amgevitatm. Amgen Inc. serves healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies. It distributes its products through pharmaceutical wholesale distributors, as well as direct-to-consumer channels. The company has collaborative agreements with Novartis; UCB; Bayer HealthCare Pharmaceuticals Inc.; and DaVita Inc. Amgen Inc. was founded in 1980 and is headquartered in Thousand Oaks, California.

Details
Name: Amgen Inc.
AMG
Exchange: DB
Founded: 1980
$98,931,054,760
615,949,381
Website: http://www.amgen.com
Address: Amgen Inc.
One Amgen Center Drive,
Thousand Oaks,
California, 91320,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS AMGN Common Stock Nasdaq Global Select US USD 17. Jun 1983
DB AMG Common Stock Deutsche Boerse AG DE EUR 17. Jun 1983
XTRA AMG Common Stock XETRA Trading Platform DE EUR 17. Jun 1983
SWX AMGN Common Stock SIX Swiss Exchange CH CHF 17. Jun 1983
WBAG AMGN Common Stock Wiener Boerse AG AT EUR 17. Jun 1983
SNSE AMGN Common Stock Santiago Stock Exchange CL USD 17. Jun 1983
BMV AMGN * Common Stock Bolsa Mexicana de Valores MX MXN 17. Jun 1983
BOVESPA AMGN34 BDR EACH REPR 1 COM SHS Bolsa de Valores de Sao Paulo BR BRL 23. Aug 2012
Number of employees
Current staff
Staff numbers
21,500
Amgen employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:53
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/24
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.