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AmgenCHIX:AMGD 85 Capex-to-Operating-Cash-Flow is 0.13 as of Jun. 2026, which is 63% above its 10-year median of 0.08. GuruFocus rates CHIX:AMGD with a GF Score™ of 85/100 and a GF Value™ of €302.77. The stock has 8 warning signs investors should review. Among 548 Drug Manufacturers companies, Amgen ranks better than 71.72% on this metric.
Capex-to-Operating-Cash-Flow assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. It’s also useful to distinguish whether the company is capital intensive or not.
Capex-to-Operating-Cash-Flow ratio assesses how much of a company’s Cash Flow from Operations is being devoted to Capital Expenditure. It is a good indicator in terms of how much the company is focused on growth. In general, a high Capex-to-Operating-Cash-Flow ratio indicates that the company is investing more in physical assets and is focused on growth and expansion. Conversely, lower ratio could indicate that a company has reached maturity and is no longer pursuing aggressive growth.
Moreover, the ratio is also useful to distinguish whether the company is capital intensive or not. If the ratio is large, then the company tends to be capital intensive. Lower ratio suggests that it’s a capital-light business. The ratio can be combined with ROIC % to identify whether the company is an asset-light business that has a high return on invested capital. This is one question investors commonly ask to see if a company qualifies as a good company.
Amgen Capex-to-Operating-Cash-Flow Related Terms
Amgen Capex-to-Operating-Cash-Flow Historical Data
* Premium members only.
The historical data trend for Amgen's Capex-to-Operating-Cash-Flow can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CHIX:AMGD vs GILD, PFE, BMY: Capex-to-Operating-Cash-Flow Comparison
For the Drug Manufacturers - General subindustry, Amgen's Capex-to-Operating-Cash-Flow, along with its competitors' market caps and Capex-to-Operating-Cash-Flow data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Amgen Capex-to-Operating-Cash-Flow vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Amgen's Capex-to-Operating-Cash-Flow distribution charts can be found below:
* The bar in red indicates where Amgen's Capex-to-Operating-Cash-Flow falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Capex-to-Operating-Cash-Flow of 0.13 mean?
Amgen (CHIX:AMGD) has a Capex-to-Operating-Cash-Flow of 0.13 as of Jun. 2026. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on Amgen and its competitors. This is 63% above median its historical median of 0.08. Over the past decade, Amgen's Capex-to-Operating-Cash-Flow has ranged from 0.06 to 0.19. According to the industry distribution chart, Amgen ranks #155 out of 548 companies in the Drug Manufacturers industry, placing it in the top 28.3%.
Is Amgen's Capex-to-Operating-Cash-Flow too high?
Amgen's current Capex-to-Operating-Cash-Flow of 0.13 is 63% above median its 10-year median of 0.08. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 0.19. The Drug Manufacturers industry median Capex-to-Operating-Cash-Flow is 0.36. Amgen's value of 0.13 is 63.9% below this industry median. Based on the distribution chart, Amgen ranks #155 out of 548 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Amgen has a GF Score™ of 85/100, reflecting its overall financial health beyond just this single metric.
How does Amgen's Capex-to-Operating-Cash-Flow compare to GILD and PFE?
According to the Drug Manufacturers industry distribution chart, Amgen ranks #155 out of 548 companies for Capex-to-Operating-Cash-Flow. This puts Amgen in the upper half of its industry. The industry median Capex-to-Operating-Cash-Flow is 0.36. Amgen's value of 0.13 is 63.9% below this benchmark. Historically, Amgen's own Capex-to-Operating-Cash-Flow has ranged from 0.06 to 0.19 over the past decade. While the company's 10-year median is 0.08 vs. the industry median of 0.36, Amgen has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Cash-Flow for a Drug Manufacturers company?
The median Capex-to-Operating-Cash-Flow among Drug Manufacturers companies is 0.36, based on 548 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Cash-Flow significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Cash-Flow should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Amgen's current Capex-to-Operating-Cash-Flow of 0.13 is 63.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Cash-Flow mean?
A high Capex-to-Operating-Cash-Flow can signal that a stock is expensive relative to its fundamentals. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on Amgen and its competitors. For the Drug Manufacturers industry, the median Capex-to-Operating-Cash-Flow is 0.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Amgen's current Capex-to-Operating-Cash-Flow is 0.13, which is 63% above median its own 10-year median of 0.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Amgen stock overvalued right now?
Amgen (CHIX:AMGD) has a current Capex-to-Operating-Cash-Flow of 0.13. The stock's GF Value™ is €302.77, compared to a current price of €362.00 — trading 19.6% above its estimated fair value. The current Capex-to-Operating-Cash-Flow is 0.13, which is 63% above median its 10-year median of 0.08 and 63.9% below the Drug Manufacturers industry median of 0.36. Amgen's overall GF Score™ is 85/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Cash-Flow calculated?
Capex-to-Operating-Cash-Flow is calculated from a company's financial statements. For Amgen (CHIX:AMGD), the current Capex-to-Operating-Cash-Flow is 0.13 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Amgen (CHIX:AMGD) Overvalued in 2026?
Based on GuruFocus' analysis, Amgen stock appears to be overvalued.
The current stock price of €362.00 is trading 19.6% above its estimated GF Value™ of €302.77.
Key valuation signals for CHIX:AMGD:
Capex-to-Operating-Cash-Flow: 0.13 (63% above median its 10-year median of 0.08)
GF Value™: €302.77 vs. price of €362.00 (19.6% above fair value)
Industry Position: 63.9% below the Drug Manufacturers median (#155 of 548)
No single metric tells the full story. See the CHIX:AMGD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drugs Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx Pharmaceuticals bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brought several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
85GF Score
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