Reading the tape
NASDAQ: AMGN
Amgen Inc.
Healthcare · Drug Manufacturers - General
Market Cap
$178.00B
52w High
$391.29
52w Low
$261.43
P/E
22.83
Volume
3.82M
Outstanding Shares
539.69M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: 16.22%Revenue (TTM): 9.12%FCF (TTM): -21.24%P/FCF: 85th pct
What changed
The stock rose 16.22% over the last year. Revenue grew 9.12% over the trailing twelve months. Operating margin moved from 21.82% to 31.63%. Free cash flow declined 21.24% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 31.63%. A decisive move in revenue — currently up 9.12% — would be the clearest signal to resolve the ambiguity.
Company profile
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide.
CEORobert A. Bradway
SectorHealthcare
IndustryDrug Manufacturers - General
Employees28,000
IPO dateJun 17, 1983
Valuation
Forward P/E—
EV/EBITDA13.99
Enterprise value$221.57B
Stock splits
Nov 22, 1999↑ Forward
Every 1 shares became 2
Mar 1, 1999↑ Forward
Every 1 shares became 2
Aug 16, 1995↑ Forward
Every 1 shares became 2
Sep 11, 1991↑ Forward
Every 1 shares became 3
Aug 13, 1990↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth5.76%
Gross margin71.46%▲15.06%vs FY2024
Operating margin31.63%▲33.81%vs FY2024
ROE89.06%▲27.98%vs FY2024
Analyst consensus
RatingBuy
Target price$350.76▲6.35%
22
Buy
13
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 4, 2026
Q3 FY26 · EPS est $5.63 · Revenue est $9.42B
View
Dividends
$9.80/shareQuarterlyDividend Achiever · 14yrEx-div May 15, 2026 · in 12dAdequateAMGN pays a dividend with a 2.97% declared yield, 14 consecutive years of growth, growing at 7.84% annually, covered 1.6× by free cash flow.
Declared Yield
2.97%
Annual Div / Share
$9.80
5yr CAGR
+7.84%
Doubles every ~9.2yr
Payout Ratio
66.71%
Adequate
Dividend Growth Rate
3yr CAGR
+6.38%
5yr CAGR
+7.84%
10yr CAGR
+10.59%
Dividend Safety
6/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$9.80+5.8%
2025$9.26+5.7%
2024$8.76+7.6%
2023$8.14+10.0%
2022$7.40+10.1%
2021$6.72+10.2%
2020$6.10+10.1%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$30/yr
$2/mo
In 5 yrs
$43/yr+46%
$4/mo
In 10 yrs
$63/yr+113%
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$30/yr $2/mo | $43/yr+46% $4/mo | $63/yr+113% $5/mo |
Yield-on-cost grows from 2.97% → 6.32% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
AMGN has raised its dividend for 14 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 1.6× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 7.84% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.
Congressional Activity
Congress Trades in AMGN
STOCK Act disclosures from senators and representatives.
Mark Warner
VAsenateDemocratSaleJoint2026-04-07$1,001 - $15,000+24d to discloseMark Warner
VAsenateDemocratSaleSelf2026-04-07$1,001 - $15,000+24d to discloseMark Warner
VAsenateDemocratSaleJoint2026-04-06$1,001 - $15,000+25d to disclose
Maria Elvira Salazar
FLhouseRepublicanPurchase2026-03-24$15,001 - $50,000+29d to disclose