Amgen
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
24.0921.8313.8013.54
Price/Sales ratio
4.934.824.784.74
Earnings per Share (EPS)
$12.34$13.61$21.54$21.94

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
23.4317.7314.1664.2315.3218.5918.5421.7621.5622.9433.3415.32
Price/Sales ratio
6.025.684.755.565.416.245.294.935.365.464.356.24
Price/Book Value ratio
4.694.383.665.0310.2915.0714.3119.1338.5924.7218.7310.29
Price/Cash Flow ratio
14.1313.5510.5611.3711.3915.9312.8313.8414.5318.1919.4311.39
Price/Free Cash Flow ratio
16.0014.5911.4912.0912.1817.0913.6215.3016.0820.9322.4712.18
Price/Earnings Growth ratio
31.640.511.10-0.870.049.08-4.29-1.301.217.355.260.04
Dividend Yield
1.53%1.94%2.74%2.64%2.72%2.40%2.78%3.12%2.96%2.95%3.42%2.72%
Profitability Indicator Ratios
Gross Profit Margin
77.95%80.48%81.89%82.19%82.73%81.35%75.77%75.15%75.66%70.14%60.34%81.35%
Operating Profit Margin
30.85%39.10%42.59%43.64%43.21%41.40%22.78%23.11%20.26%28.01%18.84%41.40%
Pretax Profit Margin
27.83%36.82%39.85%42.00%40.19%39.11%31.98%25.79%27.90%27.86%14.42%39.11%
Net Profit Margin
25.70%32.03%33.58%8.66%35.34%33.56%28.57%22.68%24.89%23.82%13.04%33.56%
Effective Tax Rate
7.64%13.02%15.72%79.37%12.05%14.18%10.68%12.05%10.80%14.48%9.59%14.18%
Return on Assets
7.47%9.69%9.94%2.47%12.63%13.13%11.53%9.63%10.06%6.91%4.65%13.13%
Return On Equity
20.00%24.70%25.84%7.84%67.15%81.07%77.20%87.95%178.96%107.78%68.48%67.15%
Return on Capital Employed
9.98%13.46%14.74%14.05%19.39%20.63%11.29%12.25%10.79%10.02%8.66%20.63%
Liquidity Ratios
Current Ratio
4.954.444.105.482.781.431.81N/AN/AN/A1.311.43
Quick Ratio
4.574.163.865.172.571.151.481.251.101.130.951.15
Cash ratio
0.530.470.280.420.510.470.530.650.480.590.440.47
Days of Sales Outstanding
46.3150.4650.2451.7055.0263.3864.9668.7777.13102.8382.3555.02
Days of Inventory outstanding
218.48210.26240.73254.21261.66300.31230.71231.07280.90412.84208.98300.31
Operating Cycle
264.80260.72290.97305.92316.69363.69295.67299.85358.03515.67291.34363.69
Days of Payables Outstanding
82.1283.3280.41121.27107.42114.8784.2177.2589.5668.9660.94114.87
Cash Conversion Cycle
182.67177.39210.55184.64209.26248.81211.46222.60268.46446.70230.39209.26
Debt Ratios
Debt Ratio
0.440.430.440.440.510.500.520.540.590.660.660.51
Debt Equity Ratio
1.191.111.151.402.713.093.504.9710.6310.368.022.71
Long-term Debt to Capitalization
0.530.500.500.570.700.730.770.830.910.910.880.70
Total Debt to Capitalization
0.540.520.530.580.730.750.770.830.910.910.880.73
Interest Coverage Ratio
5.787.737.777.647.377.507.24N/AN/AN/A1.897.50
Cash Flow to Debt Ratio
0.270.280.290.310.330.300.310.270.240.130.120.30
Company Equity Multiplier
2.672.542.593.165.316.176.699.1217.7815.5812.075.31
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.420.410.450.480.470.390.410.350.360.300.220.39
Free Cash Flow / Operating Cash Flow Ratio
0.880.920.910.940.930.930.940.900.900.860.860.93
Cash Flow Coverage Ratio
0.270.280.290.310.330.300.310.270.240.130.120.30
Short Term Coverage Ratio
17.114.032.359.702.553.09115.35106.446.105.872.043.09
Dividend Payout Ratio
35.88%34.52%38.82%170.03%41.77%44.74%51.69%68.09%64.04%67.82%112.69%41.77%