Financials Amgen Inc.

Equities

AMGN

US0311621009

Pharmaceuticals

Market Closed - Nasdaq 01:30:00 27/04/2024 am IST 5-day change 1st Jan Change
270 USD +0.22% Intraday chart for Amgen Inc. +0.39% -6.26%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,43,240 1,33,852 1,26,718 1,40,139 1,54,142 1,44,811 - -
Enterprise Value (EV) 1 1,64,232 1,56,191 1,51,990 1,69,779 2,07,811 1,91,281 1,85,093 1,80,338
P/E ratio 18.7 x 18.7 x 21.9 x 21.7 x 23.1 x 23.5 x 18.2 x 17.3 x
Yield 2.41% 2.78% 3.13% 2.95% 2.96% 3.43% 3.72% 3.95%
Capitalization / Revenue 6.13 x 5.26 x 4.88 x 5.32 x 5.47 x 4.39 x 4.24 x 4.13 x
EV / Revenue 7.03 x 6.14 x 5.85 x 6.45 x 7.37 x 5.8 x 5.42 x 5.14 x
EV / EBITDA 12.3 x 9.8 x 9.61 x 10.5 x 11.9 x 9.89 x 9.34 x 8.6 x
EV / FCF 19.2 x 15.8 x 18.1 x 19.3 x 28.2 x 13.6 x 15.1 x 14.3 x
FCF Yield 5.2% 6.33% 5.51% 5.17% 3.54% 7.38% 6.63% 6.99%
Price to Book 14.7 x 14.1 x 18.7 x 38.3 x 24.7 x 18.2 x 13.3 x 10.8 x
Nbr of stocks (in thousands) 5,94,184 5,82,169 5,63,266 5,33,579 5,35,178 5,36,376 - -
Reference price 2 241.1 229.9 225.0 262.6 288.0 270.0 270.0 270.0
Announcement Date 30/01/20 02/02/21 07/02/22 31/01/23 06/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 23,362 25,424 25,979 26,323 28,190 32,951 34,144 35,084
EBITDA 1 13,363 15,935 15,822 16,178 17,470 19,332 19,817 20,962
EBIT 1 11,157 12,334 12,424 12,761 13,399 15,078 15,690 16,135
Operating Margin 47.76% 48.51% 47.82% 48.48% 47.53% 45.76% 45.95% 45.99%
Earnings before Tax (EBT) 1 9,138 8,133 6,701 7,346 7,855 6,554 8,985 8,801
Net income 1 7,842 7,264 5,893 6,552 6,717 6,121 7,560 8,119
Net margin 33.57% 28.57% 22.68% 24.89% 23.83% 18.57% 22.14% 23.14%
EPS 2 12.88 12.31 10.28 12.11 12.49 11.48 14.86 15.57
Free Cash Flow 1 8,532 9,889 8,381 8,785 7,359 14,115 12,277 12,600
FCF margin 36.52% 38.9% 32.26% 33.37% 26.11% 42.84% 35.96% 35.91%
FCF Conversion (EBITDA) 63.85% 62.06% 52.97% 54.3% 42.12% 73.01% 61.95% 60.11%
FCF Conversion (Net income) 108.8% 136.14% 142.22% 134.08% 109.56% 230.61% 162.4% 155.18%
Dividend per Share 2 5.800 6.400 7.040 7.760 8.520 9.269 10.03 10.67
Announcement Date 30/01/20 02/02/21 07/02/22 31/01/23 06/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 6,706 6,846 6,238 6,594 6,652 6,839 6,105 6,986 6,903 8,196 7,457 8,311 8,422 8,801 7,911
EBITDA 1 4,302 3,849 3,981 4,163 4,114 3,920 3,721 4,411 4,298 5,040 4,437 5,116 5,250 5,339 -
EBIT 1 3,452 2,997 3,140 3,335 3,277 3,009 2,821 3,515 3,403 3,660 3,171 3,887 3,991 4,029 3,776
Operating Margin 51.48% 43.78% 50.34% 50.58% 49.26% 44% 46.21% 50.31% 49.3% 44.66% 42.53% 46.77% 47.39% 45.77% 47.73%
Earnings before Tax (EBT) 1 2,155 2,131 1,675 1,531 2,392 1,748 3,442 1,614 1,947 852 1,214 1,780 1,790 1,010 2,995
Net income 1 1,884 1,899 1,476 1,317 2,143 1,616 2,841 1,379 1,730 767 1,143 1,702 1,828 1,560 2,018
Net margin 28.09% 27.74% 23.66% 19.97% 32.22% 23.63% 46.54% 19.74% 25.06% 9.36% 15.33% 20.48% 21.7% 17.73% 25.51%
EPS 2 3.310 3.360 2.680 2.450 3.980 3.000 5.280 2.570 3.220 1.420 2.708 3.254 3.600 2.975 3.780
Dividend per Share 2 1.760 1.760 1.940 1.940 1.940 1.940 2.130 2.130 2.130 2.130 2.314 2.314 2.314 2.314 2.580
Announcement Date 02/11/21 07/02/22 27/04/22 04/08/22 03/11/22 31/01/23 27/04/23 03/08/23 31/10/23 06/02/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 20,992 22,339 25,272 29,640 53,669 46,471 40,283 35,527
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.571 x 1.402 x 1.597 x 1.832 x 3.072 x 2.404 x 2.033 x 1.695 x
Free Cash Flow 1 8,532 9,889 8,381 8,785 7,359 14,115 12,277 12,600
ROE (net income / shareholders' equity) 81.4% 103% 122% 185% 203% 155% 197% 380%
ROA (Net income/ Total Assets) 14.3% 16% 15.8% 15.2% 12.4% 9.33% 10.1% 10.8%
Assets 1 54,778 45,481 37,328 43,230 54,315 65,603 74,518 74,970
Book Value Per Share 2 16.40 16.30 12.00 6.860 11.60 14.80 20.30 25.00
Cash Flow per Share 2 15.00 17.80 16.20 18.00 15.70 21.00 22.40 26.10
Capex 1 618 608 880 936 1,112 1,066 1,018 960
Capex / Sales 2.65% 2.39% 3.39% 3.56% 3.94% 3.23% 2.98% 2.74%
Announcement Date 30/01/20 02/02/21 07/02/22 31/01/23 06/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
30
Last Close Price
270 USD
Average target price
300.3 USD
Spread / Average Target
+11.22%
Consensus