Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,26,718 1,40,139 1,54,142 1,40,103 1,76,250 1,97,690 - -
Change - 10.59% 9.99% -9.11% 25.8% 12.16% - -
Enterprise Value (EV) 1 1,51,990 1,69,779 2,07,811 1,88,229 2,21,725 2,39,631 2,33,980 2,29,258
Change - 11.7% 22.4% -9.42% 17.8% 8.08% -2.36% -2.02%
P/E 21.9x 21.7x 23.1x 34.5x 23x 24x 22x 21.2x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 18.5x 15.5x 12.8x
PEG - 1.2x 7.36x -0.9x 0.3x 3.36x 2.43x 5.29x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 5.24x 5.11x 4.97x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 6.35x 6.05x 5.77x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 11.2x 10.9x 11x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 14.5x 13.8x 13.1x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 18.9x 15.5x 15x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 5.3% 6.46% 6.65%
Dividend per Share 2 7.04 7.76 8.52 9 9.52 10.09 10.66 11.12
Rate of return 3.13% 2.95% 2.96% 3.45% 2.91% 2.75% 2.91% 3.04%
EPS 2 10.28 12.11 12.49 7.56 14.23 15.25 16.63 17.29
Distribution rate 68.5% 64.1% 68.2% 119% 66.9% 66.2% 64.1% 64.3%
Net sales 1 25,979 26,323 28,190 33,424 36,751 37,749 38,681 39,738
EBITDA 1 15,822 16,178 17,470 20,620 21,370 21,359 21,472 20,861
EBIT 1 12,424 12,761 13,399 15,028 16,203 16,489 16,993 17,480
Net income 1 5,893 6,552 6,717 4,090 7,711 8,219 8,851 9,284
Net Debt 1 25,272 29,640 53,669 48,126 45,475 41,942 36,290 31,568
Reference price 2 224.97 262.64 288.02 260.64 327.31 366.29 366.29 366.29
Nbr of stocks (in thousands) 5,63,266 5,33,579 5,35,178 5,37,533 5,38,481 5,39,708 - -
Announcement Date 07/02/22 31/01/23 06/02/24 04/02/25 03/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.02x6.35x11.22x2.75% 20TCr
35.04x12.53x26.21x0.57% 1,05100Cr
27.19x6.2x16.98x2.12% 61TCr
33.15x7.52x15.43x2.7% 45TCr
17.85x4.43x10.91x3% 33TCr
21.66x5.55x13.44x2.84% 28TCr
21.16x4.46x12.34x1.97% 26TCr
14.45x5.41x11.15x3.44% 22TCr
-48.37x5.78x31.95x2.42% 17TCr
12.72x3.11x7.86x6.89% 14TCr
Average 15.89x 6.13x 15.75x 2.87% 37.18TCr
Weighted average by Cap. 23.58x 7.64x 17.93x 2.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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