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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.

Revenue: +8.45%
EPS: +19.4%
Free cash flow: −0.16%
Total debt: −1.06%

Quarter to September 2026, against a year earlier

461.53 1.25 +0.27%

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Market cap: $248.8B
P/E: 26.6×
Fwd P/E: 29.6×
Dividend yield: 2.15%
F-score: 7/9
Altman Z: 1.69
Beneish M: −2.27
Dividend safety: 56/100

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Amgen Inc. (AMGN) Price to free cash flow

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As of 5 November 2026, Amgen Inc. (AMGN) trades at a price to free cash flow of 27.3×. Over the past ten years it has ranged from 10.4× (September 2015) to 35.9× (September 2024); the current reading is higher than 97% of that period. That is above the Drug Manufacturers General industry median of 21.3× and above the Healthcare sector median of 21.1×.

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<iframe src="https://stockrow.com/embed/AMGN/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="Amgen Inc. price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/AMGN/metrics/price-to-free-cash-flow">Amgen Inc. (AMGN) price to free cash flow — stockrow.com</a></p>

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%)

Period	Price to free cash flow	Change
Sep 2026	24.9×	24.19%
Jun 2026	20.1×	(13.75%)
Mar 2026	23.3×	1.33%
Dec 2025	23.0×	68.02%
43 more quarters	Free account

Against its own ten years

Low 10.4× High 35.9×

Ten-year median 15.0×

Current reading's percentile 97

Company	Price to free cash flow
BMY Bristol Myers Squibb Company compare	13.9×
GILD Gilead Sciences, Inc. compare	15.1×
PFE Pfizer Inc. compare	15.5×
NVS Novartis AG compare	21.7×
MRK Merck & Co., Inc. compare	22.6×
NVO Novo Nordisk A/S compare	23.5×
ABBV AbbVie Inc. compare	27.1×
AMGN Amgen Inc.	27.3×
AZN AstraZeneca PLC compare	45.8×
Drug Manufacturers General industry median	21.3×
Healthcare sector median	21.1×
Market median	14.1×

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 →

Amgen Inc. (AMGN) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

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Price to free cash flow against peers

What Price to free cash flow is

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