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NASDAQ · HEALTHCARE · Financials

Amgen Inc financial statements.

Q1 FY2026 snapshot — revenue, profitability, balance-sheet strength, and cash generation. Provider-attributed so you can verify any line.

Balance sheet coverage

AMGN assets, liabilities, debt, and equity are now visible.

The financials page now surfaces the balance sheet alongside income and cash-flow statements, with full quarterly and annual statement rows available in the explorer below.

20 quarterly · 20 annual rows · Market data feed · balance-sheet-statement quarterly

Open balance sheet table

Latest period

Q1 FY2026

20 quarterly · 20 annual rows

Assets / liabilities

$92.50B

Liabilities $83.31B

Cash / debt

$12.04B

Net cash -$45.28B

Equity / working capital

$9.19B

Working capital $6.52B

Financial statement period

AMGN statement history

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly rows Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly rows Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly rows

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Gross profit	Operating income	Interest income	Continuing ops	Net income	Comprehensive income	Net margin	Revenue QoQ	Net income QoQ
Q1 FY2026	$8.62B	$5.87B	$2.67B	—	$1.82B	$1.82B	—	21.11%	-12.9%	+36.5%
Q4 FY2025	$9.90B	$8.11B	$3.94B	—	$1.33B	$1.33B	—	13.47%	+3.5%	-58.6%
Q3 FY2025	$9.56B	$6.47B	$2.53B	—	$3.22B	$3.22B	—	33.65%	+4.3%	+124.6%
Q2 FY2025	$9.17B	$6.16B	$2.64B	—	$1.43B	$1.43B	—	15.62%	+12.5%	-17.2%
Q1 FY2025	$8.15B	$5.18B	$1.18B	—	$1.73B	$1.73B	—	21.23%	-10.3%	+175.9%
Q4 FY2024	$9.09B	$5.97B	$2.31B	—	$627.00M	$627.00M	—	6.90%	+6.9%	-77.8%
Q3 FY2024	$8.50B	$5.19B	$2.05B	—	$2.83B	$2.83B	—	33.28%	+1.4%	+279.4%
Q2 FY2024	$8.39B	$5.15B	$1.91B	—	$746.00M	$746.00M	—	8.89%	+12.6%	+760.2%

Balance sheet

Provider-attributed balance-sheet rows for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total debt	Capital leases	Total equity	Shares	Debt QoQ
Q1 FY2026	$12.04B	$31.48B	$24.95B	$92.50B	$83.31B	$57.32B	—	$9.19B	544.00M	+5.0%
Q4 FY2025	$9.13B	$29.06B	$25.49B	$90.59B	$81.93B	$54.60B	—	$8.66B	543.00M	+0.0%
Q3 FY2025	$9.45B	$27.89B	$21.79B	$90.14B	$80.52B	$54.59B	—	$9.62B	542.00M	-2.9%
Q2 FY2025	$8.03B	$26.73B	$20.48B	$87.90B	$80.47B	$56.20B	—	$7.43B	541.00M	-2.1%
Q1 FY2025	$8.81B	$26.93B	$23.01B	$89.37B	$83.16B	$57.38B	—	$6.21B	541.00M	-4.5%
Q4 FY2024	$11.97B	$29.03B	$23.10B	$91.84B	$85.96B	$60.10B	—	$5.88B	542.00M	-0.5%
Q3 FY2024	$9.01B	$26.77B	$20.31B	$90.88B	$83.36B	$60.40B	—	$7.53B	542.00M	-3.6%
Q2 FY2024	$9.30B	$27.21B	$21.52B	$90.91B	$84.98B	$62.65B	—	$5.92B	541.00M	-2.1%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	CapEx	Free cash flow	Net income	Stock comp	Debt issuance	Dividends paid	Buybacks	Change in cash	FCF QoQ
Q1 FY2026	$2.19B	$712.00M	$1.48B	$1.82B	$75.00M	—	$1.36B	—	—	+53.7%
Q4 FY2025	$1.60B	$642.00M	$961.00M	$1.33B	$125.00M	—	$1.28B	—	—	-77.4%
Q3 FY2025	$4.68B	$436.00M	$4.25B	$3.22B	$127.00M	—	$1.28B	—	—	+122.3%
Q2 FY2025	$2.28B	$369.00M	$1.91B	$1.43B	$157.00M	—	$1.28B	—	—	+95.0%
Q1 FY2025	$1.39B	$411.00M	$980.00M	$1.73B	$85.00M	—	$1.28B	—	—	-77.7%
Q4 FY2024	$4.77B	$371.00M	$4.40B	$627.00M	$134.00M	—	$1.21B	-$200.00M	—	+32.8%
Q3 FY2024	$3.57B	$257.00M	$3.31B	$2.83B	$136.00M	—	$1.21B	—	—	+49.2%
Q2 FY2024	$2.46B	$238.00M	$2.22B	$746.00M	$157.00M	—	$1.21B	—	—	+383.9%

Valuation and returns

Enterprise value: $227.04B; Market data feed · key-metrics-ttm.enterpriseValueTTM

Return on equity: 101.30%; Market data feed · ratios-ttm.returnOnEquityTTM

Return on assets: 8.35%; Market data feed · ratios-ttm.returnOnAssetsTTM

Debt / equity: 6.24; Current ratio 1.26

These metrics are core inputs to TECHi’s Forward model and quant scoring — the same signals that drive our multi-horizon edge over generic analyst views.

Annual revenue and income multiples

Annual revenue: $36.77B; Latest annual statement · ANNUAL FY2025 · TECHi computed · annual income statement derived from quarterly rows

Annual net income: $7.71B; Latest annual statement · ANNUAL FY2025 · TECHi computed · annual income statement derived from quarterly rows

Market cap / revenue: 4.94; Market value divided by annual revenue

Market cap / income: 23.57; Market value divided by annual net income

These multiples are key inputs to TECHi’s Forward model and quant framework — the same signals that power our multi-horizon edge.

Annual sales and income multiple

Market cap / annual revenue4.94

Market cap / annual income23.57

EV / annual revenue6.17

EV / annual income22.06

Interest burden

Interest paid / expense$2.77B

Interest / revenue7.53%

Interest / market cap1.52%

Interest / income35.91%

Uses absolute annual net income when positive or negative

Latest income statement · Q1 FY2026

Revenue: $8.62B; +5.8% YoY

Gross profit: $5.87B; 68.16%

Operating income: $2.67B; 30.94%

Net income: $1.82B; 21.11%

Revenue, net income, and free cash flow

Revenue$8.62BNet income$1.82BFree cash flow$1.48B

Q4 FY2024Q3 FY2025Q1 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Revenue / employee: Pending; Employee count pending

Net income / employee: Pending; TTM net income divided by employees

FCF / employee: Pending; TTM free cash flow divided by employees

Market cap / employee: Pending; Live value per employee

Growth vs cost pressure

Revenue growth YoY+5.8%

Debt growth YoY-0.1%

Operating expense growth YoY-19.9%

Cash conversion

FCF margin23.09%

CapEx / revenue5.80%

FCF / net income1.10

Above 1.0 means cash flow exceeds reported earnings

EBITDA margin46.58%

OCF / revenue28.88%

Quarterly margin heatmap

Gross margin

Q1 FY2026

68.16%

Q4 FY2025

81.91%

Q3 FY2025

67.75%

Q2 FY2025

67.15%

Q1 FY2025

63.58%

Q4 FY2024

65.75%

Operating margin

Q1 FY2026

30.94%

Q4 FY2025

39.83%

Q3 FY2025

26.43%

Q2 FY2025

28.84%

Q1 FY2025

14.46%

Q4 FY2024

25.43%

Net margin

Q1 FY2026

21.11%

Q4 FY2025

13.47%

Q3 FY2025

33.65%

Q2 FY2025

15.62%

Q1 FY2025

21.23%

Q4 FY2024

6.90%

Latest quarter expense mix

Cost of revenue$2.74B

Operating expenses$3.21B

R&D$1.72B

SG&A$1.60B

Profit bridge

EBIT$2.67B

EBITDA$2.74B

Pretax income$2.08B

Interest expense$657.00M

Tax expense$265.00M

Detailed income lines

Interest income—

Net interest income-$657.00M

Investment income net—

Continuing operations income$1.82B

Comprehensive income—

Other income statement lines

Other non-operating income—

Income before tax$2.08B

Income tax expense$265.00M

Balance sheet · Q1 FY2026

Cash & equivalents: $12.04B

Total debt: $57.32B

Net cash: -$45.28B; Net debt position

Total equity: $9.19B

Balance sheet detail

Current assets: $31.48B

Current liabilities: $24.95B

Inventory: $6.19B

Receivables: $9.14B

Property, plant & equipment: Pending

Current debt: $5.44B

Long-term debt: $51.89B

Shares outstanding: 544.00M

Balance sheet assets detail

Short-term investments—

Long-term investments—

Goodwill$18.67B

Intangible assets$21.38B

Balance sheet liabilities detail

Deferred revenue—

Current long-term debt$5.44B

Capital lease obligations—

Treasury stock—

Debt and liquidity

Debt / revenue1.54

Debt / income7.35

Debt / EBITDA3.30

Interest coverage4.06

Operating income / interest expense

Cash / debt0.21

Quick ratio1.01

Current assets less inventory / current liabilities

Shares outstanding trend

Shares544.00M

Q4 FY2024Q3 FY2025Q1 FY2026

Quarterly balance-sheet shares outstanding, useful for spotting buybacks, dilution, and split-adjusted share-count drift.

Cash generation

Operating cash flow: $2.19B

Capital expenditure: $712.00M

Free cash flow: $1.48B

Capital returned: $1.36B; Buybacks + dividends paid

Cash-flow detail

Depreciation & amortization: $1.12B

Investing cash flow: -$716.00M

Financing cash flow: $1.44B

Change in receivables: Pending

Change in inventory: $18.00M

Stock issuance: Pending; Provider field pending

Buybacks: Pending

Net buybacks: Pending; Repurchases less stock issuance

Dividends paid: $1.36B

Cash flow read

AMGN converts most of its earnings into cash.

Free cash flow of $1.48B versus $1.82B of reported net income means accruals aren't doing much heavy lifting — the cash is showing up alongside the earnings. That's the cleanest profile a fundamentals desk wants to see.

Frequently asked

Common questions.

Where can I see AMGN financial statements?

The AMGN Financials page hosts the latest income statement, balance sheet, and cash-flow statement for Amgen Inc — quarterly and annual views, with TECHi's source attribution next to every line.

What is Amgen Inc's revenue trend?

Quarterly and annual revenue, gross profit, operating income, and net income trends for Amgen Inc are charted at the top of the AMGN Financials page; analyst estimates for the next two periods overlay the historical bars.

What is Amgen Inc's profit margin?

Amgen Inc reports a net margin of 21.00%. Gross / operating / net margin trends and the segment mix that drives them are broken out on the AMGN Financials page.

Does Amgen Inc have positive free cash flow?

Operating cash flow, capital expenditure, and free cash flow are tracked quarterly on the AMGN Financials page. FCF margin and FCF yield are normalized on the /quote/AMGN/statistics/ page.