# Amgen Inc. (AMGN) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Healthcare / Pharmaceuticals. Price $461.26, market value $249.4 billion.

## Valuation
- **P/E (trailing): 28.6×** (5-yr avg 23.1×, 3-yr avg 25.7×). Amgen Inc. trades at 28.6× trailing earnings, well above its own five-year average of 23.1×: investors are paying up relative to the company's past. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 18.8×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.21**. A PEG of 0.21 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 6.5×**. Each dollar of revenue is priced at 6.5×.
- **Price / book: 28.7×**. The shares trade at 28.7× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 18.3×**. Enterprise value is 18.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 4.1%** (5-yr avg 6.4%). Free cash flow equals 4.1% of the market value, below its five-year average of 6.4%, so the shares are pricier on cash than usual.
- **Earnings yield: 3.5%**. The inverse of the P/E: 3.5% of the price is earned each year.

## Profitability
- **Operating margin: 30.0%**. 30.0% of revenue is left after running the business, an exceptional level.
- **Net margin: 21.0%**. 21.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 89.1%**. A 89.1% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: 16.7%**. Return on all capital, debt included, is 16.7%: comfortably above what that capital costs.
- **Return on assets: 9.7%**. Each dollar of assets produces 9.7% of profit.

## Growth
- **Revenue growth (1 yr): 10.0%** (3-yr 11.8%/yr, 5-yr 7.6%/yr). Revenue grew 10.0% over the last year, against 7.6% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 88.2%** (3-yr 5.5%/yr, 5-yr 2.9%/yr). Earnings per share rose 88.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -2.7%/yr**. Free cash flow has compounded at -2.7% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 6.31**. Debt is 6.31 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.8×**. It would take 2.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 1.14** (quick 1.14). Current assets cover the next year's liabilities 1.14 times.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.19%** ($9.80 per share, trailing). Amgen Inc. yields 2.19%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 66%** (52% of free cash flow). 66% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 15**. 15 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 8.3%/yr** (1-yr 5.8%). The dividend has grown 8.3% a year over five years.

## Analyst view
- **Analyst consensus: hold** (29 analysts). 29 analysts cover Amgen Inc.; the consensus is hold, with an average price target of $397.32 (-14% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 59.4%** (YTD 44.3%, 3-mo 22.9%). The shares are up 59.4% over twelve months including dividends.
- **From 52-week high: -3.0%** (56.6% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 71**. An RSI of 71 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 0.47** (volatility 30%). Beta of 0.47 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AMGN · Page: https://foliofundamentals.com/stocks/amgn

Not investment advice.