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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.89
AMGN's Cash to Debt is ranked lower than
81% of the 845 Companies
in the Global Biotechnology industry.

( Industry Median: 67.24 vs. AMGN: 0.89 )
Ranked among companies with meaningful Cash to Debt only.
AMGN' s 10-Year Cash to Debt Range
Min: 0.27  Med: 1.04 Max: 8.25
Current: 0.89
0.27
8.25
Equity to Asset 0.38
AMGN's Equity to Asset is ranked lower than
78% of the 600 Companies
in the Global Biotechnology industry.

( Industry Median: 0.69 vs. AMGN: 0.38 )
Ranked among companies with meaningful Equity to Asset only.
AMGN' s 10-Year Equity to Asset Range
Min: 0.33  Med: 0.66 Max: 0.84
Current: 0.38
0.33
0.84
F-Score: 5
Z-Score: 2.94
M-Score: -2.70
WACC vs ROIC
1.85%
20.06%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 33.29
AMGN's Operating margin (%) is ranked higher than
93% of the 663 Companies
in the Global Biotechnology industry.

( Industry Median: -69.59 vs. AMGN: 33.29 )
Ranked among companies with meaningful Operating margin (%) only.
AMGN' s 10-Year Operating margin (%) Range
Min: -14.21  Med: 36.92 Max: 42.33
Current: 33.29
-14.21
42.33
Net-margin (%) 27.74
AMGN's Net-margin (%) is ranked higher than
90% of the 663 Companies
in the Global Biotechnology industry.

( Industry Median: -66.45 vs. AMGN: 27.74 )
Ranked among companies with meaningful Net-margin (%) only.
AMGN' s 10-Year Net-margin (%) Range
Min: -25.2  Med: 27.34 Max: 34.22
Current: 27.74
-25.2
34.22
ROE (%) 22.88
AMGN's ROE (%) is ranked higher than
93% of the 763 Companies
in the Global Biotechnology industry.

( Industry Median: -29.44 vs. AMGN: 22.88 )
Ranked among companies with meaningful ROE (%) only.
AMGN' s 10-Year ROE (%) Range
Min: -11.85  Med: 21.39 Max: 39.26
Current: 22.88
-11.85
39.26
ROA (%) 8.27
AMGN's ROA (%) is ranked higher than
87% of the 851 Companies
in the Global Biotechnology industry.

( Industry Median: -25.50 vs. AMGN: 8.27 )
Ranked among companies with meaningful ROA (%) only.
AMGN' s 10-Year ROA (%) Range
Min: -9.01  Med: 11.13 Max: 28.29
Current: 8.27
-9.01
28.29
ROC (Joel Greenblatt) (%) 95.50
AMGN's ROC (Joel Greenblatt) (%) is ranked higher than
93% of the 822 Companies
in the Global Biotechnology industry.

( Industry Median: -343.99 vs. AMGN: 95.50 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
AMGN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -23.8  Med: 80.09 Max: 112.68
Current: 95.5
-23.8
112.68
Revenue Growth (3Y)(%) 15.10
AMGN's Revenue Growth (3Y)(%) is ranked higher than
73% of the 406 Companies
in the Global Biotechnology industry.

( Industry Median: 1.10 vs. AMGN: 15.10 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
AMGN' s 10-Year Revenue Growth (3Y)(%) Range
Min: 5.9  Med: 15.10 Max: 29.3
Current: 15.1
5.9
29.3
EBITDA Growth (3Y)(%) 19.00
AMGN's EBITDA Growth (3Y)(%) is ranked higher than
76% of the 430 Companies
in the Global Biotechnology industry.

( Industry Median: -3.90 vs. AMGN: 19.00 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
AMGN' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 1.1  Med: 15.70 Max: 25.3
Current: 19
1.1
25.3
EPS Growth (3Y)(%) 18.40
AMGN's EPS Growth (3Y)(%) is ranked higher than
77% of the 417 Companies
in the Global Biotechnology industry.

( Industry Median: -9.10 vs. AMGN: 18.40 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
AMGN' s 10-Year EPS Growth (3Y)(%) Range
Min: 2.3  Med: 17.00 Max: 22.1
Current: 18.4
2.3
22.1
» AMGN's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2014

AMGN Guru Trades in Q3 2014

Stanley Druckenmiller 158,900 sh (New)
First Eagle Investment 714,178 sh (New)
Jana Partners 2,765,800 sh (New)
Ruane Cunniff 1,617 sh (New)
Daniel Loeb 1,325,000 sh (+194.44%)
Ken Fisher 156,629 sh (+83.59%)
John Buckingham 56,921 sh (+1.25%)
RS Investment Management 3,840 sh (unchged)
Pioneer Investments 108,816 sh (unchged)
Louis Moore Bacon Sold Out
Steven Cohen Sold Out
PRIMECAP Management 31,793,873 sh (-0.19%)
Bill Frels 10,941 sh (-0.45%)
Mario Gabelli 59,950 sh (-0.64%)
Vanguard Health Care Fund 7,022,755 sh (-12.75%)
Jim Simons 268,445 sh (-13.58%)
Dodge & Cox 72,907 sh (-15.08%)
Alan Fournier 160,000 sh (-32.20%)
Jeremy Grantham 1,992,020 sh (-38.91%)
John Hussman 25,000 sh (-50.00%)
Paul Tudor Jones 3,300 sh (-63.39%)
Joel Greenblatt 2,693 sh (-72.90%)
» More
Q4 2014

AMGN Guru Trades in Q4 2014

Daniel Loeb 10,675,000 sh (+705.66%)
Joel Greenblatt 10,393 sh (+285.93%)
Jim Simons 470,445 sh (+75.25%)
Paul Tudor Jones 4,600 sh (+39.39%)
RS Investment Management 4,020 sh (+4.69%)
John Buckingham 57,100 sh (+0.31%)
Ruane Cunniff 1,617 sh (unchged)
John Hussman 25,000 sh (unchged)
Bill Frels 10,941 sh (unchged)
Jana Partners Sold Out
Stanley Druckenmiller Sold Out
PRIMECAP Management 31,613,880 sh (-0.57%)
Ken Fisher 154,439 sh (-1.40%)
First Eagle Investment 651,855 sh (-8.73%)
Dodge & Cox 66,427 sh (-8.89%)
Vanguard Health Care Fund 5,580,485 sh (-20.54%)
Alan Fournier 127,000 sh (-20.63%)
Mario Gabelli 39,500 sh (-34.11%)
Jeremy Grantham 1,026,151 sh (-48.49%)
Pioneer Investments 2,625 sh (-97.59%)
» More
Q1 2015

AMGN Guru Trades in Q1 2015

Lee Ainslie 1,570 sh (New)
Ray Dalio 4,373 sh (New)
Joel Greenblatt 309,134 sh (+2874.44%)
Pioneer Investments 37,587 sh (+1331.89%)
Jim Simons 1,524,045 sh (+223.96%)
Paul Tudor Jones 9,865 sh (+114.46%)
Alan Fournier 130,000 sh (+2.36%)
Ken Fisher 156,623 sh (+1.41%)
Mario Gabelli 39,985 sh (+1.23%)
John Buckingham 57,549 sh (+0.79%)
Vanguard Health Care Fund 5,580,485 sh (unchged)
Ruane Cunniff 1,617 sh (unchged)
Bill Frels 10,941 sh (unchged)
John Hussman Sold Out
PRIMECAP Management 31,488,010 sh (-0.40%)
RS Investment Management 3,790 sh (-5.72%)
Daniel Loeb 10,000,000 sh (-6.32%)
Daniel Loeb 10,000,000 sh (-6.32%)
Dodge & Cox 54,704 sh (-17.65%)
First Eagle Investment 497,622 sh (-23.66%)
Jeremy Grantham 499,847 sh (-51.29%)
» More
Q2 2015

AMGN Guru Trades in Q2 2015

Vanguard Health Care Fund 5,580,485 sh (unchged)
Ken Fisher 155,101 sh (-0.97%)
» More
» Details

Insider Trades

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Guru Investment Theses on Amgen Inc

Vanguard Health Care Fund Comments on Amgen Inc - Mar 27, 2015

We trimmed our position in Amgen (AMGN), a U.S.-based global biotechnology company that discovers, develops, manufactures, and delivers human therapeutics. The stock was a strong performer in the latter half of 2014 given restructuring efforts to focus more attention on research and development.

From Vanguard Health Care Fund (Trades, Portfolio) 2014 Annual Report

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Daniel Loeb Comments on Amgen Inc - Feb 10, 2015

Equity Position: Amgen (AMGN)

Our biggest winner in 2014 was our equity position in the biotechnology company Amgen. In our last letter and at the Robin Hood Investment Conference, we highlighted Amgen as a hidden value situation where investor skepticism in three areas – R&D productivity, operating efficiency, and capital allocation – had obscured the company’s fundamental value.

From our perspective, Amgen’s valuation discount to both biotech peers and even slower- growing pharmaceuticals was unwarranted given Amgen’s compelling mix of long-duration, highly cash-generative mature assets and soon-to-launch blockbuster products. To create shareholder value, we made three specific recommendations: 1) focus the company’s R&D efforts; 2) provide long-term margin guidance demonstrating a commitment to reducing a bloated cost structure; and 3) create clarity on additional shareholder returns.

Apparently, Amgen Chairman and CEO Bob Bradway recognized many of the same sources of investor frustration and he has responded with a company-wide transformation initiative. At Amgen’s Analyst Day in October, Mr. Bradway directly addressed two areas of shareholder skepticism: operating margins and capital allocation. The company shared long-term operating margin and cost reduction targets with investors, noting that 2018 spending will not exceed 2013 levels. This expense discipline should help drive operating margins from 38% to at least 52% over that period. In addition, Amgen guided to a 30% increase in its quarterly dividend and accelerated the resumption of its share repurchase program. The long-term vision and discipline presented at the Analyst Day combined with several subsequent positive clinical pipeline events helped Amgen return nearly 45% to shareholders in 2014, the best performance of all mega cap US healthcare companies and Amgen’s highest annual return since 1999.

Even so, we feel this story is still in its early innings and there is still substantially more value for Amgen shareholders to realize. We believe the company can be more aggressive with its share repurchase program, particularly since the stock remains undervalued at current levels. We also remain focused on Amgen’s R&D productivity, given the company’s disappointing returns on its $30 billion in R&D spending over the past decade. While changes to R&D can take longer to implement, we expect that Mr. Bradway will remain attentive to this area. We hope that the company’s recent immuno-oncology partnership with Kite Pharmaceuticals exemplifies Amgen’s increasing efforts to broaden its R&D capabilities in a financially responsible way. Our work suggests further meaningful opportunities exist to improve and optimize internal processes, particularly around decision-making and project selection. Finally, we believe Amgen should provide more granular detail (e.g., R&D spending by therapeutic area) to investors to provide comfort that its current R&D decisions reflect a careful approach to managing capital.

We look forward to continuing to work with the company and our distinguished Third Point Scientific and Medical Advisory Board Members – Dr. David Agus, Dr. Geoff Ginsburg, and Dr. David Parkinson – to further help tune up a world-class engine of scientific discovery and innovation.

From Daniel Loeb (Trades, Portfolio)’s Third Point Q4 2014 Investor Letter.

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Daniel Loeb Comments on Amgen Inc - Oct 22, 2014

Since its founding in 1980, Amgen (AMGN) (“the company”) has been a pioneer in the biotechnology industry, successfully discovering, developing, and marketing therapeutic agents that have meaningfully impacted human health. From 1989 to 2002, Amgen grew five revolutionary biologic drugs into billion dollar blockbuster products in oncology, nephrology, and inflammation. Today, Amgen is a $105 billion market cap company with annual revenues of nearly $20 billion and annual net income e of over $5billion.

Considering this track record, Amgen’s long‐term underperformance relative to its biotech peers is surprising. The company has a compelling mix of long‐duration, high‐margin mature products like Neulasta and Enbrel, and a number of exciting high growth assets, including recently launched blockbusters like Prolia and Xgeva along with innovative late-stage pipeline assets like evolocumab. Yet, using nearly any valuation metric, the Company trades at a substantial discount to peers. Amgen even trades at a discount to the US pharmaceutical sector, despite superior revenue and earnings growth rates. Amgen’s current discount to fair valuation – and the lack of structural hurdles to closing this gap – make it an attractive investment opportunity. Third Point is now one of the company’s largest shareholders.

Amgen has all the hallmarks of a hidden value situation, one of our favorite investment themes. The company does not receive proper credit from investors for either the cash generative potential of its mature products or the coming financial impact of its growth assets. In the mature products segment, we believe revenues will be sustainable and concerns about potential erosion are overstated. With respect to Amgen’s pipeline, we believe the market underappreciates how disruptive some of its new products will be. Our conviction about the company’s growth pipeline has been bolstered by our discussions with Third Point’s newly created Scientific and Medical Advisory Board (“SMAB”) led by renowned oncologist Dr. David Agus. Dr. Agus has helped us assemble a world‐class team of scientists and physicians to assist in our evaluation of therapeutic companies and their clinicalassets.1

We believe the obscured fundamental value and investor skepticism that have led to Amgen’s valuation discount can be easily unlocked. Throughout our due diligence and discussions with sell‐side analysts and other investors, it became clear that the market has penalized Amgen for several key reasons: 1) its historical lack of R&D productivity; 2) more than a decade of flat operating margins; and 3) the suspension of its share repurchase program in 2013 following its $9 billion acquisition of Onyx Pharmaceuticals.

First, on R&D productivity, our analyses confirm that Amgen’s R&D efforts have been more costly and less efficient than those of its biotech peers. Despite investing a cumulative $32 billion in R&D since 2002, over 75% of Amgen’s current revenues still come from products introduced before that year. Amgen also appears to spend significantly more money on its late‐stage pipeline assets than any of its biotech peers – both in absolute terms and relative to the number of development projects. Given this sparse output versus to investment, we believe improvements are needed in Amgen’s R&D evaluation process, a hypothesis supported by members of our SMAB.

Second, the market has rightfully punished Amgen for having flat operating margins since 2002 despite a 3x increase in revenues, a failure we attribute to excessive spending. For starters, the bloated cost structure is troubling given that Amgen competes in specialized therapeutic areas which require small, highly focused sales and marketing efforts, and generates the majority of its revenues from just a few well‐established, popular drugs. Another puzzle is that while the biotechnology industry has seen substantial improvements in manufacturing efficiency, Amgen has not demonstrated any of the obvious economies of scale (e.g., procurement, sourcing) that should have been realized. Against this backdrop, the company’s lack of operating margin leverage over this period is doubly surprising. Given its revenue growth, we are convinced that Amgen should have seen meaningful operating margin expansion since 2002, a shortcoming which we believe management has now acknowledged. We believe recent efforts to trim costs do not even scratch the potential opportunity.

Third, in 2013, Amgen’s management made a questionable capital allocation decision: the company purchased Onyx Pharmaceuticals at a 40%+ premium for $9 billion in cash while halting its own share repurchase program. At the time, the company said that its buyback would remain halted until 2016. Based on corporate filings, during the deal negotiations, Amgen had concerns about Onyx’s lead compound, Kyprolis, and renegotiated to reduce the price. Since the acquisition closed, Amgen has disclosed that while the ASPIRE trial for Kyprolis met its clinical endpoints, its sister FOCUS trial failed to show clinical benefit and introduced potential concerns over renal‐adverse events. Instead of the Onyx purchase, Amgen could have accretively repurchased over 10% of its shares outstanding, at the depressed valuation of just 4x sales. Beyond Onyx, we question whether the return on Amgen’s $17 billion in M&A spending since 2002 (on top of the aforementioned $32 billion in R&D spending) has been economically justified, both in absolute terms and also relative to other transactions in the sector. We are challenged to identify any “home‐run” acquisitions and, while still early, believe that most of these transactions will turn out to show mediocre returns.

We believe that Amgen management can directly address all three sources of legitimate investor frustration and, based on our discussions to date with management, we believe that they will. While we applauded Amgen’s first steps in July to target the company’s inflated cost structure by rationalizing its US facilities footprint and creating centers of R&D excellence in San Francisco and Boston, we believe much more can and should be done. Immediate actions Amgen can take to create shareholder value include: 1) Focusing its R&D efforts; 2) Providing long‐term margin guidance demonstrating a commitment to reducing a bloated cost structure; and 3) Creating clarity on additional shareholder returns.

We have also asked the company to seriously consider a more radical option, one first proposed by Geoffrey Porges at Sanford Bernstein. It is well‐established that disparate business units generally benefit from operating separately due to distinct corporate cultures, superior efficiencies, and a greater focus for employees and management alike. Given the diverse nature of its assets – cash‐generative Mature Products and R&D‐intensive Growth Products – we believe that Amgen could benefit from a separation into distinct operating units with separate financial statements and should seriously consider separating into two companies (e.g., a MatureCo and a GrowthCo). Internally, each business would have different priorities: MatureCo would focus on efficiency and cashflow, while GrowthCo would emphasize product development and innovation. Externally, each business would be valued with different metrics: MatureCo on a dividend yield and GrowthCo on a peer‐based sales or earnings multiple. Our own extensive diligence suggests that a break‐up of Amgen is feasible and that purported constraints such as tax strategy and supply chain management can be managed.

A separation of Amgen into MatureCo and GrowthCo would likely be very well received by investors. We expect that MatureCo would receive a valuation based on its dividend yield while GrowthCo would be valued, like peers, on a high growth multiple on earnings, reflective of the burgeoning pipeline. Importantly, however, we believe that a separation would not just be good for shareholders, but that it is a more effective way of running each business. In particular, we believe that the benefits to GrowthCo would be the most meaningful: talent retention, more rapid decision making, and ultimately, accelerated development of new therapies to improve countless lives. We urge Amgen management and a committee of independent directors to conduct their own in‐depth evaluation of this strategic option and share their findings with investors.

We believe there are three ways to win in Amgen, depending on the path management takes from here. If Amgen is simply valued at one turn below its pharmaceutical peers at 17x earnings – a change we expect to be driven by management’s current restructuring plans – the stock should be worth $189 per share by the end of 2016. If Amgen fully seizes the opportunities outlined in our recommendations to focus its R&D, announce structural expense reductions, and accelerate capital deployment, we believe 2017 EPS will reach $12.82 (versus consensus of $11.12 currently), implying a share price of $218 on the same multiple. We see the most upside, however, in the scenario where Amgen strategically separates into two standalone business, as we have encouraged management to consider. In two years, we expect that such a separation could create almost $249 per share in total value, over 80% upside to the current share price.

CEO Bob Bradway and his team have been open‐minded and receptive to our ideas to date and we firmly believe that the company is at an inflection point. The company’s upcoming Analyst Day presents an excellent chance for Amgen management to take bold action and provide clear direction for the company, its investors, and its employees. We hope to maintain our constructive dialogue with management as the company moves towards closing its valuation gap.

From Daniel Loeb (Trades, Portfolio)’s Third Point Q3 2014 Investor Letter.

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Mario Gabelli Comments on Amgen Inc. - Jan 06, 2014

Amgen Inc. (0.2%) (AMGN - $111.94 - NASDAQ)(AMGN) is one of the largest biotechnology companies in the world, with medicines for cancer, kidney dialysis, osteoporosis, and other conditions. Given its large size and mature product portfolio, revenue growth has slowed, but the company has been able to cut costs and repurchase shares to sustain double digit earnings per share growth. Earlier this year, Amgen offered to acquire Onyx Pharmaceuticals Inc. (less than 0.1%) to bolster its oncology portfolio, with Nexavar for liver cancer and Kyprolis for blood cancers. On Aug 25, after a brief auction, Amgen agreed to pay $125 per share, or $10.4 billion, for Onyx. While initially dilutive to earnings, this acquisition provides significant visibility into Amgen's future, with two blockbuster drugs that could eventually generate over $5 billion in annual sales. 

 

From Mario Gabelli (Trades, Portfolio)'s third quarter 2013 commentary.

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Top Ranked Articles about Amgen Inc

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Pasadena, California-based PRIMECAP Management (Trades, Portfolio) was founded in September 1983 as an independent investment management company. It evaluates securities based on their outlook over three to five years, longer if warranted. The Vanguard PRIMECAP Fund, one of the funds it manages, logged a return of 18.72% in 2014. Read more...
Vanguard Health Care Fund Comments on Amgen Inc
We trimmed our position in Amgen (AMGN), a U.S.-based global biotechnology company that discovers, develops, manufactures, and delivers human therapeutics. The stock was a strong performer in the latter half of 2014 given restructuring efforts to focus more attention on research and development. Read more...
Daniel Loeb Comments on Amgen Inc
Equity Position: Amgen (AMGN) Read more...
New Guru Jana Partners' Newest Stock Buys
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Daniel Loeb Comments on Amgen Inc
Since its founding in 1980, Amgen (AMGN) (“the company”) has been a pioneer in the biotechnology industry, successfully discovering, developing, and marketing therapeutic agents that have meaningfully impacted human health. From 1989 to 2002, Amgen grew five revolutionary biologic drugs into billion dollar blockbuster products in oncology, nephrology, and inflammation. Today, Amgen is a $105 billion market cap company with annual revenues of nearly $20 billion and annual net income e of over $5billion. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 23.90
AMGN's P/E(ttm) is ranked higher than
71% of the 221 Companies
in the Global Biotechnology industry.

( Industry Median: 43.00 vs. AMGN: 23.90 )
Ranked among companies with meaningful P/E(ttm) only.
AMGN' s 10-Year P/E(ttm) Range
Min: 10.4  Med: 17.33 Max: 37.29
Current: 23.9
10.4
37.29
Forward P/E 16.29
AMGN's Forward P/E is ranked higher than
74% of the 163 Companies
in the Global Biotechnology industry.

( Industry Median: 24.10 vs. AMGN: 16.29 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 23.90
AMGN's PE(NRI) is ranked higher than
72% of the 219 Companies
in the Global Biotechnology industry.

( Industry Median: 41.60 vs. AMGN: 23.90 )
Ranked among companies with meaningful PE(NRI) only.
AMGN' s 10-Year PE(NRI) Range
Min: 10.4  Med: 17.34 Max: 37.39
Current: 23.9
10.4
37.39
P/B 5.07
AMGN's P/B is ranked lower than
54% of the 746 Companies
in the Global Biotechnology industry.

( Industry Median: 4.54 vs. AMGN: 5.07 )
Ranked among companies with meaningful P/B only.
AMGN' s 10-Year P/B Range
Min: 1.8  Med: 3.54 Max: 5.21
Current: 5.07
1.8
5.21
P/S 6.61
AMGN's P/S is ranked higher than
65% of the 596 Companies
in the Global Biotechnology industry.

( Industry Median: 11.64 vs. AMGN: 6.61 )
Ranked among companies with meaningful P/S only.
AMGN' s 10-Year P/S Range
Min: 3.01  Med: 4.34 Max: 9.08
Current: 6.61
3.01
9.08
PFCF 17.47
AMGN's PFCF is ranked higher than
79% of the 146 Companies
in the Global Biotechnology industry.

( Industry Median: 45.41 vs. AMGN: 17.47 )
Ranked among companies with meaningful PFCF only.
AMGN' s 10-Year PFCF Range
Min: 8.78  Med: 14.93 Max: 35.64
Current: 17.47
8.78
35.64
POCF 15.56
AMGN's POCF is ranked higher than
81% of the 204 Companies
in the Global Biotechnology industry.

( Industry Median: 35.29 vs. AMGN: 15.56 )
Ranked among companies with meaningful POCF only.
AMGN' s 10-Year POCF Range
Min: 7.24  Med: 12.34 Max: 23.4
Current: 15.56
7.24
23.4
EV-to-EBIT 19.38
AMGN's EV-to-EBIT is ranked higher than
70% of the 227 Companies
in the Global Biotechnology industry.

( Industry Median: 32.48 vs. AMGN: 19.38 )
Ranked among companies with meaningful EV-to-EBIT only.
AMGN' s 10-Year EV-to-EBIT Range
Min: 8  Med: 14.50 Max: 26.4
Current: 19.38
8
26.4
PEG 2.25
AMGN's PEG is ranked higher than
59% of the 73 Companies
in the Global Biotechnology industry.

( Industry Median: 2.73 vs. AMGN: 2.25 )
Ranked among companies with meaningful PEG only.
AMGN' s 10-Year PEG Range
Min: 0.25  Med: 1.34 Max: 2.54
Current: 2.25
0.25
2.54
Shiller P/E 30.43
AMGN's Shiller P/E is ranked higher than
73% of the 108 Companies
in the Global Biotechnology industry.

( Industry Median: 48.33 vs. AMGN: 30.43 )
Ranked among companies with meaningful Shiller P/E only.
AMGN' s 10-Year Shiller P/E Range
Min: 12.76  Med: 22.49 Max: 71.21
Current: 30.43
12.76
71.21
Current Ratio 5.53
AMGN's Current Ratio is ranked higher than
57% of the 817 Companies
in the Global Biotechnology industry.

( Industry Median: 4.36 vs. AMGN: 5.53 )
Ranked among companies with meaningful Current Ratio only.
AMGN' s 10-Year Current Ratio Range
Min: 1.31  Med: 3.02 Max: 6.33
Current: 5.53
1.31
6.33
Quick Ratio 5.11
AMGN's Quick Ratio is ranked higher than
56% of the 817 Companies
in the Global Biotechnology industry.

( Industry Median: 4.17 vs. AMGN: 5.11 )
Ranked among companies with meaningful Quick Ratio only.
AMGN' s 10-Year Quick Ratio Range
Min: 1.17  Med: 2.69 Max: 5.75
Current: 5.11
1.17
5.75
Days Inventory 236.44
AMGN's Days Inventory is ranked lower than
79% of the 404 Companies
in the Global Biotechnology industry.

( Industry Median: 118.28 vs. AMGN: 236.44 )
Ranked among companies with meaningful Days Inventory only.
AMGN' s 10-Year Days Inventory Range
Min: 168.79  Med: 272.23 Max: 454.39
Current: 236.44
168.79
454.39
Days Sales Outstanding 45.20
AMGN's Days Sales Outstanding is ranked higher than
66% of the 564 Companies
in the Global Biotechnology industry.

( Industry Median: 60.21 vs. AMGN: 45.20 )
Ranked among companies with meaningful Days Sales Outstanding only.
AMGN' s 10-Year Days Sales Outstanding Range
Min: 37.43  Med: 50.07 Max: 67.84
Current: 45.2
37.43
67.84

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.59
AMGN's Dividend Yield is ranked higher than
89% of the 218 Companies
in the Global Biotechnology industry.

( Industry Median: 1.10 vs. AMGN: 1.59 )
Ranked among companies with meaningful Dividend Yield only.
AMGN' s 10-Year Dividend Yield Range
Min: 0.48  Med: 1.58 Max: 1.89
Current: 1.59
0.48
1.89
Dividend Payout 0.35
AMGN's Dividend Payout is ranked higher than
99% of the 115 Companies
in the Global Biotechnology industry.

( Industry Median: 0.37 vs. AMGN: 0.35 )
Ranked among companies with meaningful Dividend Payout only.
AMGN' s 10-Year Dividend Payout Range
Min: 0.22  Med: 0.30 Max: 0.56
Current: 0.35
0.22
0.56
Dividend growth (3y) 63.30
AMGN's Dividend growth (3y) is ranked higher than
93% of the 61 Companies
in the Global Biotechnology industry.

( Industry Median: 6.30 vs. AMGN: 63.30 )
Ranked among companies with meaningful Dividend growth (3y) only.
AMGN' s 10-Year Dividend growth (3y) Range
Min: 0  Med: 0.00 Max: 63.3
Current: 63.3
0
63.3
Yield on cost (5-Year) 1.59
AMGN's Yield on cost (5-Year) is ranked higher than
81% of the 224 Companies
in the Global Biotechnology industry.

( Industry Median: 1.42 vs. AMGN: 1.59 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
AMGN' s 10-Year Yield on cost (5-Year) Range
Min: 0.48  Med: 1.58 Max: 1.89
Current: 1.59
0.48
1.89
Share Buyback Rate 5.50
AMGN's Share Buyback Rate is ranked higher than
99% of the 539 Companies
in the Global Biotechnology industry.

( Industry Median: -10.20 vs. AMGN: 5.50 )
Ranked among companies with meaningful Share Buyback Rate only.
AMGN' s 10-Year Share Buyback Rate Range
Min: 8.3  Med: 4.00 Max: -7.5
Current: 5.5

Valuation & Return

vs
industry
vs
history
Price/Projected FCF 1.28
AMGN's Price/Projected FCF is ranked higher than
90% of the 136 Companies
in the Global Biotechnology industry.

( Industry Median: 5.34 vs. AMGN: 1.28 )
Ranked among companies with meaningful Price/Projected FCF only.
AMGN' s 10-Year Price/Projected FCF Range
Min: 0.59  Med: 1.19 Max: 6.23
Current: 1.28
0.59
6.23
Price/DCF (Earnings Based) 1.35
AMGN's Price/DCF (Earnings Based) is ranked higher than
54% of the 13 Companies
in the Global Biotechnology industry.

( Industry Median: 1.35 vs. AMGN: 1.35 )
Ranked among companies with meaningful Price/DCF (Earnings Based) only.
N/A
Price/Median PS Value 1.52
AMGN's Price/Median PS Value is ranked lower than
64% of the 505 Companies
in the Global Biotechnology industry.

( Industry Median: 1.14 vs. AMGN: 1.52 )
Ranked among companies with meaningful Price/Median PS Value only.
AMGN' s 10-Year Price/Median PS Value Range
Min: 0.72  Med: 1.58 Max: 5.19
Current: 1.52
0.72
5.19
Price/Peter Lynch Fair Value 1.84
AMGN's Price/Peter Lynch Fair Value is ranked higher than
62% of the 40 Companies
in the Global Biotechnology industry.

( Industry Median: 2.46 vs. AMGN: 1.84 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
AMGN' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.58  Med: 1.58 Max: 3.34
Current: 1.84
0.58
3.34
Earnings Yield (Greenblatt) (%) 5.20
AMGN's Earnings Yield (Greenblatt) (%) is ranked higher than
92% of the 817 Companies
in the Global Biotechnology industry.

( Industry Median: -5.40 vs. AMGN: 5.20 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
AMGN' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 3.8  Med: 6.90 Max: 12.5
Current: 5.2
3.8
12.5
Forward Rate of Return (Yacktman) (%) 16.90
AMGN's Forward Rate of Return (Yacktman) (%) is ranked higher than
57% of the 87 Companies
in the Global Biotechnology industry.

( Industry Median: 14.59 vs. AMGN: 16.90 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
AMGN' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: 1.9  Med: 15.00 Max: 71.3
Current: 16.9
1.9
71.3

Business Description

Industry: Biotechnology » Biotechnology
Compare:NVO, GILD, BIIB, CELG, CMXHY » details
Traded in other countries:AMG N.Mexico, AMGN.Argentina, AMG.Germany, AMGN.Chile, 0R0T.UK, AMGN34.Brazil, AMGN.Switzerland, 04332.Hongkong,
Amgen Inc was incorporated in the State of Delaware on October 31, 1986. It is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics. It operates in one business segment being human therapeutics. Its Cardiovascular products include Repatha, Corlanor, Inflammation products include Brodalumab, Nephrology, Oncology products include BLINCYTO, Kyprolis, Neulasta, Rilotumumab, Talimogene laherparepvec, Trebananib, Biosimilars, among others. Its geographic areas of operations include USA, Europe and Canada. Certain raw materials, medical devices and components necessary for the commercial and/or clinical manufacturing of the Company's products are provided by and are the proprietary products of unaffiliated third-party suppliers, certain of which may be its only sources for such materials. The Company's sales and marketing forces are mainly located in the United States and Europe. Together with its partners, the Company markets its products to healthcare providers, including physicians or their clinics, dialysis centers, hospitals and pharmacies. In the United States, the Company sells primarily to pharmaceutical wholesale distributors. The Company's competitors include Teva Pharmaceutical Industries Ltd., Janssen Biotech, Inc., AbbVie Inc., Merck & Company, Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Eli Lilly/Bristol-Myers Squibb Company, Merck KGaA, Genentech, Inc., GlaxoSmithKline PLC, Millennium Pharmaceuticals, Inc., and Celgene Corporation. Some of the Company's patents include Neulasta, NEUPOGEN, Enbrel, XGEVA, Prolia, EPOGEN, Aranesp, Sensipar, Mimpara, Kyprolis, Nplate, Vectibix, and BLINCYTO. The Company's business has been and will continue to be subject to various other U.S. and foreign laws, rules and/or regulations.
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