AMGN financial statements

The full income statement, balance sheet, and cash-flow statement for Amgen Inc. (AMGN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 537.3M2024-09 537.5M2024-12 537.2M2025-03 537.7M2025-06 538.4M2025-09 538.5M2025-12 539.1M2026-03 539.7M2026-06 540.6M+0.6% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	36.8B YoY+10.0%	33.4B YoY+18.6%	28.2B YoY+7.1%	26.3B YoY+1.3%	26.0B YoY+2.2%
Cost of revenue	12.0B YoY-6.4%	12.9B YoY+52.1%	8.45B YoY+31.9%	6.41B YoY-0.7%	6.45B YoY+4.8%
Research & development	7.27B YoY+21.9%	5.96B YoY+24.7%	4.78B YoY+7.9%	4.43B YoY-8.0%	4.82B YoY+14.5%
Selling, general & administrative	7.05B YoY-0.6%	7.10B YoY+14.8%	6.18B YoY+14.1%	5.41B YoY+0.9%	5.37B YoY-6.3%
Restructuring	—	—	267M	—	—
Amortization of intangibles	4.30B YoY-10.4%	4.80B YoY+50.0%	3.20B YoY+23.1%	2.60B YoY+0.0%	2.60B YoY-7.1%
Operating income	9.08B YoY+25.1%	7.26B YoY-8.1%	7.90B YoY-17.4%	9.57B YoY+25.2%	7.64B YoY-16.4%
Interest expense	2.75B YoY-12.7%	3.15B YoY+9.7%	2.88B YoY+104.5%	1.41B YoY+17.5%	1.20B YoY-5.2%
Interest & investment income	408M YoY-20.0%	510M YoY-57.5%	1.20B YoY+844.9%	127M YoY+1054.5%	11.0M
Other non-operating income	2.65B YoY+423.9%	506M YoY-82.1%	2.83B YoY+448.0%	-814M YoY-414.3%	259M YoY+1.2%
Equity-method income	—	10.0M YoY+190.9%	-11.0M YoY+98.8%	-891M YoY-2600.0%	-33.0M YoY+49.2%
Gain (loss) on equity securities	109M YoY+619.0%	-21.0M YoY-121.4%	98.0M YoY+159.4%	-165M YoY-202.5%	161M YoY-7.5%
Pre-tax income	8.98B YoY+94.7%	4.61B YoY-41.3%	7.86B YoY+6.9%	7.35B YoY+9.6%	6.70B YoY-17.6%
Income tax	1.26B YoY+143.7%	519M YoY-54.4%	1.14B YoY+43.3%	794M YoY-1.7%	808M YoY-7.0%
Net income	7.71B YoY+88.5%	4.09B YoY-39.1%	6.72B YoY+2.5%	6.55B YoY+11.2%	5.89B YoY-18.9%
	$14.23 YoY+88.2%	$7.56 YoY-39.5%	$12.49 YoY+3.1%	$12.11 YoY+17.8%	$10.28 YoY-16.5%
EPS (basic)	$14.33 YoY+88.1%	$7.62 YoY-39.3%	$12.56 YoY+3.1%	$12.18 YoY+17.8%	$10.34 YoY-16.6%
	538M YoY+0.2%	537M YoY+0.4%	535M YoY-0.6%	538M YoY-5.6%	570M YoY-2.7%
	542M YoY+0.2%	541M YoY+0.6%	538M YoY-0.6%	541M YoY-5.6%	573M YoY-2.9%
Dividends per share	$9.66 YoY+5.8%	$9.13 YoY+5.7%	$8.64 YoY+8.7%	$7.95 YoY+10.1%	$7.22 YoY+10.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	29.1B YoY+0.1%	29.0B YoY-4.3%	30.3B YoY+36.7%	22.2B YoY+14.4%	19.4B YoY-8.3%
Cash & equivalents	9.13B YoY-23.8%	12.0B YoY+9.4%	10.9B YoY+43.5%	7.63B YoY-4.5%	7.99B YoY+27.5%
Accounts receivable	9.57B YoY+41.1%	6.78B YoY-6.7%	7.27B YoY+30.6%	5.56B YoY+13.6%	4.89B YoY+8.2%
Inventory	6.22B YoY-11.0%	7.00B YoY-26.5%	9.52B YoY+93.1%	4.93B YoY+20.7%	4.09B YoY+5.0%
Other current assets	4.13B YoY+26.1%	3.28B YoY+25.9%	2.60B YoY+9.0%	2.39B YoY+0.9%	2.37B YoY+13.9%
	90.6B YoY-1.4%	91.8B YoY-5.5%	97.2B YoY+49.2%	65.1B YoY+6.5%	61.2B YoY-2.8%
Property, plant & equipment	7.91B YoY+20.9%	6.54B YoY+10.1%	5.94B YoY+9.5%	5.43B YoY+4.7%	5.18B YoY+6.0%
Operating lease right-of-use	602M YoY+8.1%	557M YoY-14.4%	651M YoY+12.4%	579M YoY+2.3%	566M YoY+38.7%
Goodwill	18.7B YoY+0.2%	18.6B YoY+0.0%	18.6B YoY+20.0%	15.5B YoY+4.3%	14.9B YoY+1.4%
Intangible assets	22.3B YoY-19.6%	27.7B YoY-15.1%	32.6B YoY+103.0%	16.1B YoY+5.9%	15.2B YoY-8.5%
Other non-current assets	12.7B YoY+27.5%	9.93B YoY+3.3%	9.61B YoY+62.9%	5.90B YoY-9.6%	6.52B YoY+15.7%
	25.5B YoY+10.3%	23.1B YoY+25.6%	18.4B YoY+17.2%	15.7B YoY+28.8%	12.2B YoY+4.6%
Accounts payable	2.37B YoY+24.1%	1.91B YoY+20.0%	1.59B YoY+1.1%	1.57B YoY+15.1%	1.37B YoY-3.9%
Accrued liabilities	18.5B YoY+5.0%	17.6B YoY+14.9%	15.4B YoY+22.6%	12.5B YoY+16.7%	10.7B YoY+5.8%
Short-term & current debt	4.60B YoY+29.5%	3.55B YoY+146.0%	1.44B YoY-9.3%	1.59B YoY+1728.7%	87.0M YoY-4.4%
Current lease liability	135M YoY+26.2%	107M YoY-10.1%	119M YoY-23.7%	156M YoY+7.6%	145M YoY-5.2%
Long-term debt	50.0B YoY-11.6%	56.5B YoY-10.5%	63.2B YoY+69.1%	37.4B YoY+12.4%	33.2B YoY+1.0%
Non-current lease liability	696M YoY+3.4%	673M YoY-2.6%	691M YoY+28.2%	539M YoY+2.7%	525M YoY+71.6%
Operating lease liability (total)	831M YoY+6.5%	780M YoY-3.7%	810M YoY+16.5%	695M YoY+3.7%	670M YoY+46.0%
Deferred tax liabilities	1.37B YoY-15.5%	1.62B YoY-31.4%	2.35B YoY+21300.0%	11.0M	—
Other non-current liabilities	2.38B YoY+1.2%	2.35B YoY+1.0%	2.33B YoY-12.3%	2.65B YoY+7.5%	2.46B YoY+21.8%
	8.66B YoY+47.3%	5.88B YoY-5.7%	6.23B YoY+70.2%	3.66B YoY-45.4%	6.70B YoY-28.8%
Retained earnings	-25.1B YoY+9.0%	-27.6B YoY-3.9%	-26.5B YoY+7.2%	-28.6B YoY-16.3%	-24.6B YoY-14.9%
Accumulated other comprehensive income	-258M YoY-290.9%	-66.0M YoY+77.2%	-289M YoY-25.1%	-231M YoY+71.0%	-796M YoY+19.2%
Total liabilities & equity	90.6B YoY-1.4%	91.8B YoY-5.5%	97.2B YoY+49.2%	65.1B YoY+6.5%	61.2B YoY-2.8%
	539M YoY+0.4%	537M YoY+0.3%	535M YoY+0.3%	534M YoY-4.4%	558M YoY-3.5%
	539M YoY+0.3%	537M YoY+0.2%	536M YoY+0.4%	534M YoY-4.1%	557M YoY-3.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	9.96B YoY-13.3%	11.5B YoY+35.6%	8.47B YoY-12.9%	9.72B YoY+5.0%	9.26B YoY-11.8%
Depreciation & amortization	5.17B YoY-7.6%	5.59B YoY+37.4%	4.07B YoY+19.1%	3.42B YoY+0.6%	3.40B YoY-5.6%
Intangible amortization	4.30B YoY-10.4%	4.80B YoY+50.0%	3.20B YoY+23.1%	2.60B YoY+0.0%	2.60B YoY-7.1%
Share-based compensation	494M YoY-6.8%	530M YoY+23.0%	431M YoY+7.5%	401M YoY+17.6%	341M YoY+3.3%
Deferred income taxes	-700M YoY+43.5%	-1.24B YoY-1.9%	-1.22B YoY+4.7%	-1.27B YoY-193.8%	-434M YoY-19.6%
Change in receivables	2.68B YoY+706.8%	-441M YoY-143.4%	1.01B YoY+36.1%	746M YoY+73.9%	429M YoY+0.5%
Change in inventory	-886M YoY+65.0%	-2.53B YoY-415.7%	-491M YoY-166.2%	742M YoY+349.7%	165M YoY-23.3%
Change in payables	428M YoY+37.2%	312M YoY+177.6%	-402M YoY-361.0%	154M YoY+323.2%	-69.0M YoY-253.3%
	-1.94B YoY-85.8%	-1.05B YoY+96.0%	-26.2B YoY-333.6%	-6.04B YoY-924.6%	733M YoY+113.6%
Capital expenditure	1.86B YoY+69.5%	1.10B YoY-1.4%	1.11B YoY+18.8%	936M YoY+6.4%	880M YoY+44.7%
Free cash flow	8.10B YoY-22.1%	10.4B YoY+41.2%	7.36B YoY-16.2%	8.79B YoY+4.8%	8.38B YoY-15.2%
Acquisitions	53.0M	0.00 YoY-100.0%	27.0B YoY+603.0%	3.84B YoY+51.8%	2.53B
Sales/maturities of investments	0.00	0.00 YoY-100.0%	550M YoY-50.9%	1.12B YoY-87.3%	8.83B YoY+101.6%
Other investing activities	32.0M YoY+164.0%	-50.0M YoY+77.7%	-224M YoY-124.0%	-100M YoY-152.1%	192M YoY+156.0%
	-10.9B YoY-15.3%	-9.41B YoY-144.7%	21.0B YoY+621.4%	-4.04B YoY+51.2%	-8.27B YoY-69.9%
Long-term debt issued	0.00	0.00 YoY-100.0%	27.8B YoY+301.5%	6.92B YoY+39.9%	4.95B YoY-44.5%
Long-term debt repaid	5.00B YoY+38.9%	3.60B YoY+147.6%	1.45B	0.00 YoY-100.0%	4.15B YoY-35.7%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00 YoY-100.0%	200M	0.00 YoY-100.0%	6.36B YoY+27.8%	4.97B YoY+42.7%
Dividends paid	5.12B YoY+6.0%	4.83B YoY+6.1%	4.56B YoY+8.6%	4.20B YoY+4.6%	4.01B YoY+6.9%
Other financing activities	-52.0M YoY+58.1%	-124M YoY-72.2%	-72.0M YoY+30.1%	-103M YoY-32.1%	-78.0M YoY+13.3%
Net change in cash	-2.84B YoY-376.4%	1.03B YoY-69.0%	3.31B YoY+1020.8%	-360M YoY-120.9%	1.72B YoY+652.4%
Interest paid	2.90B YoY-12.1%	3.30B YoY+37.5%	2.40B YoY+100.0%	1.20B YoY+0.0%	1.20B YoY+0.0%
Income taxes paid	4.30B YoY+48.3%	2.90B YoY-14.7%	3.40B YoY+41.7%	2.40B YoY+26.3%	1.90B YoY+35.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	176B YoY+26.0%	140B YoY-9.2%	154B YoY+10.0%	140B YoY+11.8%	125B YoY-5.6%
P/E	22.9× YoY-33.2%	34.2× YoY+68.0%	20.4× YoY-0.6%	20.5× YoY-3.6%	21.3× YoY+16.3%
P/S	4.8× YoY+14.6%	4.2× YoY-27.1%	5.7× YoY+7.9%	5.3× YoY+10.3%	4.8× YoY-7.6%
P/B	20.4× YoY-14.5%	23.8× YoY+18.3%	20.1× YoY-47.5%	38.4× YoY+105.1%	18.7× YoY+32.5%
P/FCF	21.8× YoY+61.7%	13.5× YoY-18.0%	16.4× YoY+5.5%	15.6× YoY+4.2%	15.0× YoY+11.3%
	4.4% YoY+49.6%	2.9% YoY-40.5%	4.9% YoY+0.6%	4.9% YoY+3.7%	4.7% YoY-14.0%
	4.6% YoY-38.2%	7.4% YoY+22.0%	6.1% YoY-5.2%	6.4% YoY-4.0%	6.7% YoY-10.2%
	3.0% YoY-15.7%	3.5% YoY+16.8%	3.0% YoY-0.9%	3.0% YoY-5.7%	3.2% YoY+12.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: AMGN's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AMGN filings on SEC EDGAR → Not investment advice.