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

AMGN is expensive based on its Price-To-Earnings Ratio (33.5x) compared to the peer average (30.2x).

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

AMGN is expensive based on its Price-To-Earnings Ratio (33.5x) compared to the US Biotechs industry average (15.2x).

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 is good value based on its Price-To-Earnings Ratio (33.5x) compared to the estimated Fair Price-To-Earnings Ratio (37.8x).

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

AMGN ($263.38) is trading below our estimate of [[fair value]] ($526.08)

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

Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

AMGN Stock Overview

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. More details

AMGN fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	3/6
Past Performance	0/6
Financial Health	1/6
Dividends	4/6

Rewards

Trading at 49.9% below our estimate of its fair value

Earnings are forecast to grow 18.47% per year

Risk Analysis

Interest payments are not well covered by earnings

Profit margins (13%) are lower than last year (28.2%)

Dividend of 3.61% is not well covered by earnings

Large one-off items impacting financial results

My Notes

Capture your thoughts, links and company narrative

Community Narratives

Create a narrative

Narratives bring a range of perspectives from our community.

Analyst Price Target

Consensus Narrative from 26 Analysts

Breakthrough Therapies Like MariTide Will Target Broader Markets In The Future

Key Takeaways Diverse pipeline and oncology breakthroughs position Amgen for long-term revenue growth by targeting broad markets and innovative treatments. Geographic expansion and efficient operations enhance margins and support earnings and shareholder returns through strategic capital management.

View narrative

US$325.35

19.0% undervalued

2.91%

Revenue growth p.a.

2 days ago

Amgen Inc. Competitors

Regeneron Pharmaceuticals

NasdaqGS:REGN

US$76.2b

AbbVie

NYSE:ABBV

US$303.1b

Horizon Therapeutics

NasdaqGS:HZNP

US$26.6b

Biogen

NasdaqGS:BIIB

US$21.5b

Price History & Performance

Summary of share price highs, lows and changes for Amgen
Historical stock prices
Current Share Price	US$263.38
52 Week High	US$346.85
52 Week Low	US$253.30
Beta	0.54
1 Month Change	-8.51%
3 Month Change	-21.93%
1 Year Change	-7.31%
3 Year Change	17.69%
5 Year Change	9.05%
Change since IPO	187,192.44%

Recent updates

Amgen's (NASDAQ:AMGN) Dividend Will Be Increased To $2.38

Dec 14

Amgen: MariTide Underwhelms, But There Are Ways To Win

Nov 26

Here's Why Amgen (NASDAQ:AMGN) Has A Meaningful Debt Burden

Nov 26

Amgen Sells Off: Keep Calm And Buy The Dip

Nov 18

Amgen's (NASDAQ:AMGN) Problems Go Beyond Weak Profit

Nov 08

Amgen: A Biotech Giant Offering Value And Growth In A Frothy Market

Nov 03

Amgen Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year

Nov 02

Amgen Q3 Earnings Review: So Many Questions, But MariTide Data Top Of The List

Oct 25

Amgen: Pipeline Updates, Uplizna Performs And Rocatinlimab Underwhelms

Sep 26

Amgen: Growth Is Still A Better Choice

Aug 28

Amgen Inc. Just Missed EPS By 46%: Here's What Analysts Think Will Happen Next

Aug 09

Amgen: Shows Why Dividend Investing Is Getting Tougher

Aug 07

Amgen (NASDAQ:AMGN) Takes On Some Risk With Its Use Of Debt

Jul 26

The Price Is Right For Amgen Inc. (NASDAQ:AMGN)

Jul 11

Amgen: An Emerging GLP-1 Play, Modest Mid-Teens P/E With Strong Momentum

Jul 05

Amgen: You Haven't Seen Anything Yet

Jun 17

Amgen Is A Fantastic Dividend Growth Stock With A Weight-Loss Wild Card

Jun 04

Amgen Stock: Poised To Break Out (Technical Analysis)

May 21

Is Amgen Inc. (NASDAQ:AMGN) Trading At A 41% Discount?

May 04

Amgen Stock: Recent Weakness Is Not A Buying Opportunity Yet

May 01

Amgen: The Giant With An Impressive Pipeline

Apr 15

Is Amgen (NASDAQ:AMGN) Using Too Much Debt?

Apr 01

Move Over Eli Lilly: Amgen Could Be The Next Obesity Wonder Stock

Mar 31

Amgen Will Benefit From Increased Medical Spending

Mar 12

Amgen: A Good Dividend Growth Stock For The Watch List

Mar 04

Amgen's (NASDAQ:AMGN) Shareholders May Want To Dig Deeper Than Statutory Profit

Feb 21

Pinning Down Amgen Inc.'s (NASDAQ:AMGN) P/E Is Difficult Right Now

Feb 16

Amgen: Weight Loss Drug Candidate Debate A Red Herring - Buying The Dip Advisable

Feb 08

Amgen: Accelerating The Business And Dividend Growth

Jan 29

Is Amgen Inc. (NASDAQ:AMGN) Trading At A 44% Discount?

Jan 29

Up 40%, 3%-Yielding Amgen Is Still One Of My Favorite Healthcare Stocks

Jan 22

Is Amgen (NASDAQ:AMGN) A Risky Investment?

Dec 28

Shareholder Returns

	AMGN	US Biotechs	US Market
7D	-2.7%	-3.6%	-2.4%
1Y	-7.3%	-2.7%	23.3%

Return vs Industry: AMGN underperformed the US Biotechs industry which returned -2.7% over the past year.

Return vs Market: AMGN underperformed the US Market which returned 23.3% over the past year.

Price Volatility

Is AMGN's price volatile compared to industry and market?
AMGN volatility
AMGN Average Weekly Movement	3.8%
Biotechs Industry Average Movement	10.8%
Market Average Movement	6.3%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.1%

Stable Share Price: AMGN has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: AMGN's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1980	26,700	Bob Bradway	www.amgen.com

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The company’s principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout. It also markets other products, including Neulasta, MVASI, AMJEVITA/AMGEVITA, TEZSPIRE, Parsabiv, Aimovig, LUMAKRAS/LUMYKRAS, EPOGEN, KANJINTI, TAVNEOS, RAVICTI, UPLIZNA and PROCYSBI.

Amgen Inc. Fundamentals Summary

How do Amgen's earnings and revenue compare to its market cap?
AMGN fundamental statistics
Market cap	US$140.40b
Earnings (TTM)	US$4.23b
Revenue (TTM)	US$32.53b

33.5x

P/E Ratio

4.4x

P/S Ratio

Is AMGN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
AMGN income statement (TTM)
Revenue	US$32.53b
Cost of Revenue	US$12.82b
Gross Profit	US$19.71b
Other Expenses	US$15.48b
Earnings	US$4.23b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	7.87
Gross Margin	60.59%
Net Profit Margin	13.00%
Debt/Equity Ratio	802.4%

How did AMGN perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

113%

Payout Ratio

Does AMGN pay a reliable dividends?

See AMGN dividend history and benchmarks

When do you need to buy AMGN by to receive an upcoming dividend?
Amgen dividend dates
Ex Dividend Date	Feb 14 2025
Dividend Pay Date	Mar 07 2025
Days until Ex dividend	55 days
Days until Dividend pay date	76 days

Does AMGN pay a reliable dividends?

See AMGN dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/20 05:20
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Amgen Inc. is covered by 66 analysts. 30 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
David Toung	Argus Research Company
Brian Skorney	Baird
Ishan Majumdar	Baptista Research

AMGN Stock Overview

Rewards

Risk Analysis

Breakthrough Therapies Like MariTide Will Target Broader Markets In The Future

Amgen Inc. Competitors

NasdaqGS:REGN

US$76.2b

NYSE:ABBV

US$303.1b

NasdaqGS:HZNP

US$26.6b

NasdaqGS:BIIB

US$21.5b

Price History & Performance

Recent News & Updates

Amgen's (NASDAQ:AMGN) Dividend Will Be Increased To $2.38

Dividend of US$2.38 announced

Amgen Inc. Declares Dividend for First Quarter of 2025, Payable on March 7, 2025

Amgen Inc. Announces Blincyto (Blinatumomab) Added to Chemotherapy Significantly Improves Survival in Newly Diagnosed Pediatric Patients with B-Cell Precursor Acute Lymphoblastic Leukemia (B-All)

Amgen: MariTide Underwhelms, But There Are Ways To Win

Here's Why Amgen (NASDAQ:AMGN) Has A Meaningful Debt Burden

Recent updates

Amgen's (NASDAQ:AMGN) Dividend Will Be Increased To $2.38

Dividend of US$2.38 announced

Amgen Inc. Declares Dividend for First Quarter of 2025, Payable on March 7, 2025

Amgen Inc. Announces Blincyto (Blinatumomab) Added to Chemotherapy Significantly Improves Survival in Newly Diagnosed Pediatric Patients with B-Cell Precursor Acute Lymphoblastic Leukemia (B-All)

Amgen: MariTide Underwhelms, But There Are Ways To Win

Here's Why Amgen (NASDAQ:AMGN) Has A Meaningful Debt Burden

Howard Chang Joins Amgen as Senior Vice President of Research and Chief Scientific Officer, Effective December 16, 2024

Amgen Sells Off: Keep Calm And Buy The Dip

Upcoming dividend of US$2.25 per share

Consensus EPS estimates increase by 13%

Amgen's (NASDAQ:AMGN) Problems Go Beyond Weak Profit

Amgen and AstraZeneca Announce Positive Top-Line Results from the Phase 3 WayPOINT Trial in Patients with Chronic Rhinosinusitis with Nasal Polyps

Consensus EPS estimates increase by 25%

Amgen: A Biotech Giant Offering Value And Growth In A Frothy Market

Amgen Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year

Amgen Inc. Provides Earnings Guidance for the Full Year 2024

Third quarter 2024 earnings: EPS exceeds analyst expectations

Second quarter dividend of US$2.25 announced

Amgen Inc. Announces Dividend for the Fourth Quarter of 2024, Payable on December 9, 2024

Amgen Q3 Earnings Review: So Many Questions, But MariTide Data Top Of The List

Amgen Inc. to Report Q3, 2024 Results on Oct 30, 2024

Amgen Announces Presents Positive Top-Line Results from the Phase 3 MINT Trial Evaluating the Efficacy and Safety of UPLIZNA

Amgen: Pipeline Updates, Uplizna Performs And Rocatinlimab Underwhelms

Amgen Inc. Appoints Anumita Tripathi as Director of Corporate Affairs for Amgen India

Amgen: Growth Is Still A Better Choice

Amgen Announces Otezla®? (Apremilast) Now Available in the U.S. for Moderate to Severe Plaque Psoriasis

Consensus EPS estimates fall by 19%

Amgen Inc. Just Missed EPS By 46%: Here's What Analysts Think Will Happen Next

Second quarter 2024 earnings: EPS misses analyst expectations

Amgen: Shows Why Dividend Investing Is Getting Tougher

Amgen Inc. Provides Earnings Guidance for the Year Ending December 31, 2024

Amgen Inc. to Report Q2, 2024 Results on Aug 06, 2024

Insufficient new directors

Amgen (NASDAQ:AMGN) Takes On Some Risk With Its Use Of Debt

The Price Is Right For Amgen Inc. (NASDAQ:AMGN)

Amgen: An Emerging GLP-1 Play, Modest Mid-Teens P/E With Strong Momentum

Amgen: You Haven't Seen Anything Yet

Amgen Inc. Announces U.S. Food and Drug Administration Approves Blincyto

Amgen Announces Positive Results for Phase 3 Registrational Trial Evaluating Uplizna® (Inebilizumab-Cdon) for Treatment of Immunoglobulin G4-Related Disease (Igg4-Rd)

Amgen Is A Fantastic Dividend Growth Stock With A Weight-Loss Wild Card

Amgen Stock: Poised To Break Out (Technical Analysis)

New minor risk - Earnings quality

FDA Approves Amgen's IMDELLTRA™? (Tarlatamab-Llle) for the Treatment of Adult Patients with Extensive-Stage Small Cell Lung Cancer

Insider recently sold US$663k worth of stock

Upcoming dividend of US$2.25 per share

Is Amgen Inc. (NASDAQ:AMGN) Trading At A 41% Discount?

New minor risk - Profit margin trend

First quarter 2024 earnings: EPS misses analyst expectations

Amgen Inc. Provides Earnings Guidance for the Year Ending December 31, 2024

Amgen Stock: Recent Weakness Is Not A Buying Opportunity Yet

Amgen Inc. to Report Q1, 2024 Results on May 02, 2024

Amgen to Submits Marketing Authorization Application to the European Medicines Agency

Amgen Inc., Annual General Meeting, May 31, 2024

Amgen: The Giant With An Impressive Pipeline

Is Amgen (NASDAQ:AMGN) Using Too Much Debt?

Move Over Eli Lilly: Amgen Could Be The Next Obesity Wonder Stock

Amgen Will Benefit From Increased Medical Spending

Dividend of US$2.25 announced