Amgen Inc.

BATS-CHIXE:AMGD Stock Report

Market Cap: €152.0b

Amgen Valuation

Is AMGD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AMGD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AMGD (€265.65) is trading below our estimate of fair value (€537.37)

Significantly Below Fair Value: AMGD is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AMGD?

Key metric: As AMGD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for AMGD. This is calculated by dividing AMGD's market cap by their current earnings.
What is AMGD's PE Ratio?
PE Ratio37.4x
EarningsUS$4.23b
Market CapUS$158.32b

Price to Earnings Ratio vs Peers

How does AMGD's PE Ratio compare to its peers?

The above table shows the PE ratio for AMGD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average55x
GNS Genus
142.9x37.7%UK£1.1b
AZN AstraZeneca
31.3x18.4%UK£162.4b
GSK GSK
21.8x21.9%UK£54.8b
BVXP Bioventix
24.2xn/aUK£195.7m
AMGD Amgen
37.4x19.1%€158.3b

Price-To-Earnings vs Peers: AMGD is good value based on its Price-To-Earnings Ratio (37.4x) compared to the peer average (55x).

Price to Earnings Ratio vs Industry

How does AMGD's PE Ratio compare vs other companies in the European Biotechs Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies5PE020406080100+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AMGD is expensive based on its Price-To-Earnings Ratio (37.4x) compared to the European Biotechs industry average (27x).

Price to Earnings Ratio vs Fair Ratio

What is AMGD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AMGD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio37.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AMGD's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AMGD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€265.65
€320.80
+20.8%
14.8%€388.92€192.06n/a27
Nov ’25n/a
€305.70
0%
14.9%€372.36€183.88n/a26
Oct ’25€293.05
€294.41
+0.5%
15.2%€362.72€179.12n/a25
Sep ’25n/a
€294.79
0%
15.6%€345.64€163.30n/a24
Aug ’25€308.30
€292.24
-5.2%
15.5%€349.33€156.28n/a24
Jul ’25€293.00
€295.65
+0.9%
15.4%€355.03€158.83n/a24
Jun ’25€275.50
€291.51
+5.8%
15.4%€350.25€156.69n/a24
May ’25€253.30
€284.21
+12.2%
16.7%€356.14€159.32n/a25
Apr ’25€259.60
€281.95
+8.6%
16.7%€350.85€156.96n/a25
Mar ’25n/a
€282.57
0%
16.9%€352.83€157.85n/a24
Feb ’25n/a
€268.89
0%
16.1%€323.16€170.81n/a24
Jan ’25€260.20
€255.79
-1.7%
14.8%€305.39€168.15n/a24
Dec ’24n/a
€253.09
0%
14.5%€308.04€169.61n/a24
Nov ’24€240.80
€259.94
+8.0%
14.4%€317.96€175.07n/a23
Oct ’24€254.20
€245.58
-3.4%
14.1%€299.49€173.14€293.0520
Sep ’24€236.80
€233.32
-1.5%
14.5%€284.15€160.41n/a20
Aug ’24€210.60
€225.30
+7.0%
13.7%€266.01€158.34€308.3020
Jul ’24n/a
€235.80
0%
14.2%€302.25€162.75€293.0020
Jun ’24n/a
€235.80
0%
14.2%€302.25€162.75€275.5020
May ’24n/a
€231.25
0%
14.3%€296.24€159.51€253.3020
Apr ’24n/a
€236.88
0%
14.7%€302.90€163.10€259.6019
Mar ’24n/a
€237.54
0%
14.8%€303.13€163.22n/a19
Feb ’24n/a
€237.40
0%
14.8%€295.85€163.85n/a19
Jan ’24n/a
€249.41
0%
15.2%€306.18€169.58€260.2019
Dec ’23n/a
€247.26
0%
15.0%€311.94€172.76n/a18
Nov ’23n/a
€256.47
0%
12.0%€299.10€184.53€240.8021

Analyst Forecast: Target price is less than 20% higher than the current share price.

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