A

Amgen Inc.

AMGN · CIK 0000318154

19 fiscal years · 70 SEC filings · every number carries its receipt

Revenue (FY)
$36.75B10.0%
FY2025
Net income (FY)
$7.71B88.5%
FY2025
Free cash flow (FY)
$8.10B22.1%
FY2025
Diluted EPS (FY)
$14.2388.2%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20B$30BFY2007 · Revenue $14.77B · Net income $3.08B · 0001193125-10-044311 · filed 2010-03-01FY07Revenue $14.77BNet income $3.08B0001193125-10-044311 · filed 2010-03-01FY2008 · Revenue $15.00B · Net income $4.05B · 0000950123-11-018800 · filed 2011-02-25FY08Revenue $15.00BNet income $4.05B0000950123-11-018800 · filed 2011-02-25FY2009 · Revenue $14.64B · Net income $4.61B · 0001193125-12-086670 · filed 2012-02-29FY09Revenue $14.64BNet income $4.61B0001193125-12-086670 · filed 2012-02-29FY2010 · Revenue $15.05B · Net income $4.63B · 0001445305-13-000364 · filed 2013-02-27FY10Revenue $15.05BNet income $4.63B0001445305-13-000364 · filed 2013-02-27FY2011 · Revenue $15.58B · Net income $3.68B · 0000318154-14-000004 · filed 2014-02-24FY11Revenue $15.58BNet income $3.68B0000318154-14-000004 · filed 2014-02-24FY2012 · Revenue $17.27B · Net income $4.34B · 0000318154-15-000005 · filed 2015-02-19FY12Revenue $17.27BNet income $4.34B0000318154-15-000005 · filed 2015-02-19FY2013 · Revenue $18.68B · Net income $5.08B · 0000318154-16-000031 · filed 2016-02-16FY13Revenue $18.68BNet income $5.08B0000318154-16-000031 · filed 2016-02-16FY2014 · Revenue $20.06B · Net income $5.16B · 0000318154-17-000004 · filed 2017-02-14FY14Revenue $20.06BNet income $5.16B0000318154-17-000004 · filed 2017-02-14FY2015 · Revenue $21.66B · Net income $6.94B · 0000318154-18-000004 · filed 2018-02-13FY15Revenue $21.66BNet income $6.94B0000318154-18-000004 · filed 2018-02-13FY2016 · Revenue $22.99B · Net income $7.72B · 0000318154-19-000008 · filed 2019-02-13FY16Revenue $22.99BNet income $7.72B0000318154-19-000008 · filed 2019-02-13FY2017 · Revenue $22.85B · Net income $1.98B · 0000318154-20-000017 · filed 2020-02-12FY17Revenue $22.85BNet income $1.98B0000318154-20-000017 · filed 2020-02-12FY2018 · Revenue $23.75B · Net income $8.39B · 0000318154-21-000010 · filed 2021-02-09FY18Revenue $23.75BNet income $8.39B0000318154-21-000010 · filed 2021-02-09FY2019 · Revenue $23.36B · Net income $7.84B · 0000318154-22-000010 · filed 2022-02-16FY19Revenue $23.36BNet income $7.84B0000318154-22-000010 · filed 2022-02-16FY2020 · Revenue $25.42B · Net income $7.26B · 0000318154-23-000017 · filed 2023-02-09FY20Revenue $25.42BNet income $7.26B0000318154-23-000017 · filed 2023-02-09FY2021 · Revenue $25.98B · Net income $5.89B · 0000318154-24-000011 · filed 2024-02-14FY21Revenue $25.98BNet income $5.89B0000318154-24-000011 · filed 2024-02-14FY2022 · Revenue $26.32B · Net income $6.55B · 0000318154-25-000010 · filed 2025-02-14FY22Revenue $26.32BNet income $6.55B0000318154-25-000010 · filed 2025-02-14FY2023 · Revenue $28.19B · Net income $6.72B · 0000318154-26-000010 · filed 2026-02-13FY23Revenue $28.19BNet income $6.72B0000318154-26-000010 · filed 2026-02-13FY2024 · Revenue $33.42B · Net income $4.09B · 0000318154-26-000010 · filed 2026-02-13FY24Revenue $33.42BNet income $4.09B0000318154-26-000010 · filed 2026-02-13FY2025 · Revenue $36.75B · Net income $7.71B · 0000318154-26-000010 · filed 2026-02-13FY25Revenue $36.75BNet income $7.71B0000318154-26-000010 · filed 2026-02-13FY25Revenue $36.75BNet income $7.71B0000318154-26-000010 · filed 2026-02-13FY07FY10FY13FY16FY19FY22FY25

revenue 2.5× since FY2007 · net margin 20.8% → 21.0%

MarginsNet marginFCF margin
0%20%40%FY2007 · Net margin 20.8% · FCF margin 28.0%FY07Net margin 20.8%FCF margin 28.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 27.0% · FCF margin 35.4%FY08Net margin 27.0%FCF margin 35.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 31.5% · FCF margin 39.7%FY09Net margin 31.5%FCF margin 39.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 30.7% · FCF margin 34.6%FY10Net margin 30.7%FCF margin 34.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 23.6% · FCF margin 29.2%FY11Net margin 23.6%FCF margin 29.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 25.2% · FCF margin 30.1%FY12Net margin 25.2%FCF margin 30.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 27.2% · FCF margin 30.0%FY13Net margin 27.2%FCF margin 30.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 25.7% · FCF margin 41.0%FY14Net margin 25.7%FCF margin 41.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 32.0% · FCF margin 42.2%FY15Net margin 32.0%FCF margin 42.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 33.6% · FCF margin 41.8%FY16Net margin 33.6%FCF margin 41.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 8.7% · FCF margin 46.0%FY17Net margin 8.7%FCF margin 46.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 35.3% · FCF margin 44.5%FY18Net margin 35.3%FCF margin 44.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 33.6% · FCF margin 36.5%FY19Net margin 33.6%FCF margin 36.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 28.6% · FCF margin 38.9%FY20Net margin 28.6%FCF margin 38.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 22.7% · FCF margin 32.3%FY21Net margin 22.7%FCF margin 32.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 24.9% · FCF margin 33.4%FY22Net margin 24.9%FCF margin 33.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 23.8% · FCF margin 26.1%FY23Net margin 23.8%FCF margin 26.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 12.2% · FCF margin 31.1%FY24Net margin 12.2%FCF margin 31.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 21.0% · FCF margin 22.0%FY25Net margin 21.0%FCF margin 22.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 21.0%FCF margin 22.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 21.0% · free cash flow 22.0% of revenue

Cash engineOperating cash flowFree cash flow
$0$5B$10BFY2007 · OCF $5.40B · FCF $4.13B · 0001193125-10-044311 · filed 2010-03-01FY07OCF $5.40BFCF $4.13B0001193125-10-044311 · filed 2010-03-01FY2008 · OCF $5.99B · FCF $5.32B · 0000950123-11-018800 · filed 2011-02-25FY08OCF $5.99BFCF $5.32B0000950123-11-018800 · filed 2011-02-25FY2009 · OCF $6.34B · FCF $5.81B · 0001193125-12-086670 · filed 2012-02-29FY09OCF $6.34BFCF $5.81B0001193125-12-086670 · filed 2012-02-29FY2010 · OCF $5.79B · FCF $5.21B · 0001445305-13-000364 · filed 2013-02-27FY10OCF $5.79BFCF $5.21B0001445305-13-000364 · filed 2013-02-27FY2011 · OCF $5.12B · FCF $4.55B · 0000318154-14-000004 · filed 2014-02-24FY11OCF $5.12BFCF $4.55B0000318154-14-000004 · filed 2014-02-24FY2012 · OCF $5.88B · FCF $5.19B · 0000318154-15-000005 · filed 2015-02-19FY12OCF $5.88BFCF $5.19B0000318154-15-000005 · filed 2015-02-19FY2013 · OCF $6.29B · FCF $5.60B · 0000318154-16-000031 · filed 2016-02-16FY13OCF $6.29BFCF $5.60B0000318154-16-000031 · filed 2016-02-16FY2014 · OCF $8.95B · FCF $8.23B · 0000318154-17-000004 · filed 2017-02-14FY14OCF $8.95BFCF $8.23B0000318154-17-000004 · filed 2017-02-14FY2015 · OCF $9.73B · FCF $9.14B · 0000318154-18-000004 · filed 2018-02-13FY15OCF $9.73BFCF $9.14B0000318154-18-000004 · filed 2018-02-13FY2016 · OCF $10.35B · FCF $9.62B · 0000318154-19-000008 · filed 2019-02-13FY16OCF $10.35BFCF $9.62B0000318154-19-000008 · filed 2019-02-13FY2017 · OCF $11.18B · FCF $10.51B · 0000318154-20-000017 · filed 2020-02-12FY17OCF $11.18BFCF $10.51B0000318154-20-000017 · filed 2020-02-12FY2018 · OCF $11.30B · FCF $10.56B · 0000318154-21-000010 · filed 2021-02-09FY18OCF $11.30BFCF $10.56B0000318154-21-000010 · filed 2021-02-09FY2019 · OCF $9.15B · FCF $8.53B · 0000318154-22-000010 · filed 2022-02-16FY19OCF $9.15BFCF $8.53B0000318154-22-000010 · filed 2022-02-16FY2020 · OCF $10.50B · FCF $9.89B · 0000318154-23-000017 · filed 2023-02-09FY20OCF $10.50BFCF $9.89B0000318154-23-000017 · filed 2023-02-09FY2021 · OCF $9.26B · FCF $8.38B · 0000318154-24-000011 · filed 2024-02-14FY21OCF $9.26BFCF $8.38B0000318154-24-000011 · filed 2024-02-14FY2022 · OCF $9.72B · FCF $8.79B · 0000318154-25-000010 · filed 2025-02-14FY22OCF $9.72BFCF $8.79B0000318154-25-000010 · filed 2025-02-14FY2023 · OCF $8.47B · FCF $7.36B · 0000318154-26-000010 · filed 2026-02-13FY23OCF $8.47BFCF $7.36B0000318154-26-000010 · filed 2026-02-13FY2024 · OCF $11.49B · FCF $10.39B · 0000318154-26-000010 · filed 2026-02-13FY24OCF $11.49BFCF $10.39B0000318154-26-000010 · filed 2026-02-13FY2025 · OCF $9.96B · FCF $8.10B · 0000318154-26-000010 · filed 2026-02-13FY25OCF $9.96BFCF $8.10B0000318154-26-000010 · filed 2026-02-13FY25OCF $9.96BFCF $8.10B0000318154-26-000010 · filed 2026-02-13’09’13’17’21’25

FY2025: $9.96B operating cash − $1.86B capex = $8.10B free cash flow

Returns on capitalReturn on equityReturn on assets
0%50%100%150%FY2008 · ROE 19.4% · ROA 11.1%FY08ROE 19.4%ROA 11.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 20.3% · ROA 11.6%FY09ROE 20.3%ROA 11.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 19.3% · ROA 10.6%FY10ROE 19.3%ROA 10.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 19.4% · ROA 7.5%FY11ROE 19.4%ROA 7.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 22.8% · ROA 8.0%FY12ROE 22.8%ROA 8.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 23.0% · ROA 7.7%FY13ROE 23.0%ROA 7.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 20.0% · ROA 7.5%FY14ROE 20.0%ROA 7.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 24.7% · ROA 9.7%FY15ROE 24.7%ROA 9.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 25.8% · ROA 9.9%FY16ROE 25.8%ROA 9.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 7.8% · ROA 2.5%FY17ROE 7.8%ROA 2.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 67.2% · ROA 12.6%FY18ROE 67.2%ROA 12.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 81.1% · ROA 13.1%FY19ROE 81.1%ROA 13.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 77.2% · ROA 11.5%FY20ROE 77.2%ROA 11.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 88.0% · ROA 9.6%FY21ROE 88.0%ROA 9.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 179.0% · ROA 10.1%FY22ROE 179.0%ROA 10.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 107.8% · ROA 6.9%FY23ROE 107.8%ROA 6.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 69.6% · ROA 4.5%FY24ROE 69.6%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 89.1% · ROA 8.5%FY25ROE 89.1%ROA 8.5%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 89.1%ROA 8.5%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 19% (FY2008) → 89% (FY2025) · on assets 8.5%

The receipts

Financial statements

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. See methodology.