Amgen Inc.

NasdaqGS:AMGN Stock Report

Market Cap: US$160.6b

Amgen Valuation

Is AMGN 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 AMGN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AMGN ($301.44) is trading below our estimate of fair value ($548.34)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

AMGN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6.5x
Enterprise Value/EBITDA17.3x
PEG Ratio2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AMGN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38.4x
ABBV AbbVie
59.2x27.2%US$302.3b
REGN Regeneron Pharmaceuticals
18.6x8.1%US$88.3b
BIIB Biogen
15x13.6%US$24.5b
HZNP Horizon Therapeutics
60.8x16.4%US$26.6b
AMGN Amgen
38.3x19.1%US$160.6b

Price-To-Earnings vs Peers: AMGN is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the peer average (30.9x).

Price to Earnings Ratio vs Industry

How does AMGN's PE Ratio compare vs other companies in the US Biotechs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a27.4%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a27.4%
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Price-To-Earnings vs Industry: AMGN is expensive based on its Price-To-Earnings Ratio (38.3x) compared to the US Biotechs industry average (15x).

Price to Earnings Ratio vs Fair Ratio

What is AMGN'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.

AMGN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio38.3x
Fair PE Ratio38.7x

Price-To-Earnings vs Fair Ratio: AMGN is good value based on its Price-To-Earnings Ratio (38.3x) compared to the estimated Fair Price-To-Earnings Ratio (38.7x).

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 AMGN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$301.44
US$334.02
+10.8%
15.0%US$405.00US$200.00n/a26
Nov ’25US$319.22
US$332.50
+4.2%
14.9%US$405.00US$200.00n/a26
Oct ’25US$320.32
US$328.72
+2.6%
15.2%US$405.00US$200.00n/a25
Sep ’25US$333.83
US$324.94
-2.7%
15.6%US$381.00US$180.00n/a24
Aug ’25US$335.53
US$317.90
-5.3%
15.5%US$380.00US$170.00n/a24
Jul ’25US$311.01
US$316.44
+1.7%
15.4%US$380.00US$170.00n/a24
Jun ’25US$305.85
US$316.27
+3.4%
15.4%US$380.00US$170.00n/a24
May ’25US$277.37
US$303.26
+9.3%
16.7%US$380.00US$170.00n/a25
Apr ’25US$283.04
US$305.38
+7.9%
16.7%US$380.00US$170.00n/a25
Mar ’25US$280.33
US$304.33
+8.6%
16.9%US$380.00US$170.00n/a24
Feb ’25US$324.56
US$291.23
-10.3%
16.1%US$350.00US$185.00n/a24
Jan ’25US$288.02
US$281.43
-2.3%
14.8%US$336.00US$185.00n/a24
Dec ’24US$272.45
US$276.06
+1.3%
14.5%US$336.00US$185.00n/a24
Nov ’24US$260.84
US$274.70
+5.3%
14.4%US$336.00US$185.00US$319.2223
Oct ’24US$268.76
US$262.40
-2.4%
14.1%US$320.00US$185.00US$320.3220
Sep ’24US$256.71
US$254.55
-0.8%
14.5%US$310.00US$175.00US$333.8320
Aug ’24US$232.12
US$249.00
+7.3%
13.7%US$294.00US$175.00US$335.5320
Jul ’24US$222.02
US$253.55
+14.2%
14.2%US$325.00US$175.00US$311.0120
Jun ’24US$214.27
US$253.55
+18.3%
14.2%US$325.00US$175.00US$305.8520
May ’24US$238.90
US$253.70
+6.2%
14.3%US$325.00US$175.00US$277.3720
Apr ’24US$241.75
US$254.16
+5.1%
14.7%US$325.00US$175.00US$283.0419
Mar ’24US$236.19
US$254.68
+7.8%
14.8%US$325.00US$175.00US$280.3319
Feb ’24US$246.41
US$260.79
+5.8%
14.8%US$325.00US$180.00US$324.5619
Jan ’24US$262.64
US$264.74
+0.8%
15.2%US$325.00US$180.00US$288.0219
Dec ’23US$285.94
US$257.61
-9.9%
15.0%US$325.00US$180.00US$272.4518
Nov ’23US$272.06
US$252.95
-7.0%
12.0%US$295.00US$182.00US$260.8421

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

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