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Amgen Inc.

AMGN Healthcare Drug Manufacturers General

Amgen Inc.’s revenue for fiscal 2025 (year ended December 2025) was $36.8 billion, up 9.95% from fiscal 2024. In the quarter to June 2026, revenue grew 9.53%, EPS grew 65.4%, free cash flow grew 82.6% and total debt rose 1.96%, each against the same quarter a year earlier. Member of the S&P 500, Nasdaq 100 and Dow Jones; dividend growth for ten consecutive years, revenue growth for five.

432.49 1.54 −0.35%
Market cap
$234.7B
P/E
26.7×
Fwd P/E
22.7×
Dividend yield
2.30%
F-score
7/9
Altman Z
1.69
Beneish M
−2.27
Dividend safety
56/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Amgen Inc. (AMGN) Price to free cash flow

Alert me on Price to free cash flow

As of 16 October 2026, Amgen Inc. (AMGN) trades at a price to free cash flow of 24.0×. Over the past ten years it has ranged from 10.4× (September 2015) to 35.9× (September 2024); the current reading is higher than 92% of that period. That is above the Drug Manufacturers General industry median of 16.5× and above the Healthcare sector median of 20.2×.

Price to free cash flow, daily

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Annual newest first

Period Price to free cash flow Change
FY2025 23.0× 63.46%
FY2024 14.1× (38.84%)
FY2023 23.0× 36.30%
FY2022 16.9× 4.46%
FY2021 16.1× 13.24%
FY2020 14.2× (20.88%)
FY2019 18.0× 41.70%
FY2018 12.7× (0.99%)
FY2017 12.8× 4.55%
FY2016 12.3× (9.43%)

Quarterly newest first

Period Price to free cash flow Change
Jun 2026 20.1× (13.75%)
Mar 2026 23.3× 1.33%
Dec 2025 23.0× 68.02%
Sep 2025 13.7× (7.43%)
42 more quarters

Against its own ten years

Low 10.4× High 35.9×
Ten-year median 15.0×
Current reading's percentile 92

Price to free cash flow against peers

Company Price to free cash flow
BMY Bristol Myers Squibb Company compare 10.7×
GILD Gilead Sciences, Inc. compare 15.0×
PFE Pfizer Inc. compare 16.5×
NVS Novartis AG compare 18.9×
MRK Merck & Co., Inc. compare 22.4×
NVO Novo Nordisk A/S compare 22.6×
AMGN Amgen Inc. 24.0×
ABBV AbbVie Inc. compare 27.7×
AZN AstraZeneca PLC compare 40.9×
Drug Manufacturers General industry median 16.5×
Healthcare sector median 20.2×
Market median 14.2×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

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