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 2,11,001 - -
Change - 10.59% 9.99% -9.11% 25.8% 19.72% - -
Enterprise Value (EV) 1 1,51,990 1,69,779 2,07,811 1,88,229 2,21,725 2,51,813 2,47,094 2,40,903
Change - 11.7% 22.4% -9.42% 17.8% 13.57% -1.87% -2.51%
P/E 21.9x 21.7x 23.1x 34.5x 23x 24.3x 23.1x 22.3x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 16.7x 16.3x 13.4x
PEG - 1.2x 7.36x -0.9x 0.3x 1.9x 4.56x 6.5x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 5.45x 5.37x 5.22x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 6.5x 6.29x 5.96x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 11.3x 11.4x 11.1x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 15x 14.3x 13.6x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 19.6x 16.7x 15.8x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 5.11% 5.99% 6.33%
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% 2.59% 2.73% 2.85%
EPS 2 10.28 12.11 12.49 7.56 14.23 16.06 16.87 17.45
Distribution rate 68.5% 64.1% 68.2% 119% 66.9% 62.8% 63.2% 63.7%
Net sales 1 25,979 26,323 28,190 33,424 36,751 38,715 39,270 40,421
EBITDA 1 15,822 16,178 17,470 20,620 21,370 22,257 21,703 21,712
EBIT 1 12,424 12,761 13,399 15,028 16,203 16,811 17,240 17,774
Net income 1 5,893 6,552 6,717 4,090 7,711 8,689 9,033 9,439
Net Debt 1 25,272 29,640 53,669 48,126 45,475 40,812 36,093 29,902
Reference price 2 224.97 262.64 288.02 260.64 327.31 390.02 390.02 390.02
Nbr of stocks (in thousands) 5,63,266 5,33,579 5,35,178 5,37,533 5,38,481 5,41,000 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.61x6.68x11.78x2.59% 21TCr
34.02x11.84x24.88x0.61% 99TCr
28.36x6.26x17.51x2.11% 61TCr
31.72x7.19x14.9x2.84% 43TCr
19.93x4.73x11.72x2.79% 35TCr
21.85x5.66x14.11x2.84% 29TCr
20.2x4.19x11.86x2.11% 24TCr
13.52x5.15x10.43x3.7% 21TCr
-48.74x5.83x32.22x2.44% 17TCr
13.25x3.14x7.99x6.77% 14TCr
Average 15.97x 6.07x 15.74x 2.88% 36.63TCr
Weighted average by Cap. 23.28x 7.37x 17.56x 2.23%

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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