Historical source-based research. Compilation date and financial period are different dates.

Executive summary

Annual revenue of USD 36.751 billion and net income of USD 7.711 billion for the period ended 2025-12-31. This is a structured data brief from filed financial statements, not an independently audited investment opinion.

Business and industry context

AMGEN INC is an SEC-reporting issuer listed on NASDAQ under AMGN. Its SEC industry description is Biological Products, (No Diagnostic Substances). This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications. Drug developers, device manufacturers and care providers depend on distinct clinical, reimbursement and operating economics.

Financial evidence

The selected fiscal period runs from 2025-01-01 to 2025-12-31. Revenue was USD 36.751 billion; operating income was USD 9.080 billion; diluted EPS was USD 14.23 per share. Prior-period revenue was USD 33.424 billion. The reported revenue change was 9.95%. Comparisons are not adjusted for acquisitions, disposals, foreign exchange or fiscal-week differences.

Profitability and cash generation

Net margin, calculated as net income divided by revenue, was 20.98%. Operating cash flow was USD 9.958 billion; capital expenditure was USD 1.858 billion. Free cash flow (operating cash flow less purchases of property, plant and equipment) was USD 8.100 billion. Missing standard tags are not interpreted as zero. These measures may not be directly comparable between business models.

Balance-sheet context

Total assets were USD 90.586 billion, total liabilities not available and reported shareholder equity USD 8.658 billion at the period end. Total liabilities include operating obligations and are not a measure of interest-bearing debt.

Valuation context

Company profiles show eligible dated valuation ratios using the September 17, 2026 price snapshot and selected annual accounting denominators. Capitalization-based measures use estimates and are identified as such. These are not live, TTM or forward values. A historical-multiple series and EV/EBITDA are not available. Sector medians describe a selected sample; they do not establish fair value or expected returns.

Risks and uncertainties

Patent expiry, trial outcomes, reimbursement changes, litigation and acquisition integration. Standardized XBRL can omit custom-tag disclosures. Annual data cannot establish the direction of the latest quarter.

What to monitor

Product concentration, research investment, utilization, reimbursement and cash generation. Read subsequent quarterly filings, footnotes and accounting-policy changes before interpreting these historical observations.

Methodology note

Source snapshots were collected on September 18, 2026. Values preserve reported currency and periods. This brief was compiled on September 26, 2026; the publication date is not a new source retrieval date.

Sources & dates

Methodology protocol ↗SMS research updates ↗