Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 143,240 133,852 126,718 140,139 154,142 148,047 148,047 -
Change - -6.55% -5.33% 10.59% 9.99% -3.95% 0% -
Enterprise Value (EV) 1 164,232 156,191 151,990 169,779 207,811 197,510 191,892 186,293
Change - -4.9% -2.69% 11.7% 22.4% -4.96% -2.84% -2.92%
P/E ratio 18.7x 18.7x 21.9x 21.7x 23.1x 30.2x 21.5x 20.2x
PBR 14.7x 14.1x 18.7x 38.3x 24.7x 22.8x 18.7x 15x
PEG - -4.23x -1.3x 1.2x 7.36x -1.1x 0.5x 3.3x
Capitalization / Revenue 6.13x 5.26x 4.88x 5.32x 5.47x 4.46x 4.3x 4.22x
EV / Revenue 7.03x 6.14x 5.85x 6.45x 7.37x 5.95x 5.58x 5.31x
EV / EBITDA 12.3x 9.8x 9.61x 10.5x 11.9x 10.5x 10.1x 9.75x
EV / EBIT 14.7x 12.7x 12.2x 13.3x 15.5x 13.3x 12.3x 11.9x
EV / FCF 19.2x 15.8x 18.1x 19.3x 28.2x 16.3x 15.7x 14.2x
FCF Yield 5.2% 6.33% 5.51% 5.17% 3.54% 6.14% 6.37% 7.05%
Dividend per Share 2 5.8 6.4 7.04 7.76 8.52 9.035 9.638 10.18
Rate of return 2.41% 2.78% 3.13% 2.95% 2.96% 3.28% 3.5% 3.7%
EPS 2 12.88 12.31 10.28 12.11 12.49 9.134 12.83 13.62
Distribution rate 45% 52% 68.5% 64.1% 68.2% 98.9% 75.1% 74.8%
Net sales 1 23,362 25,424 25,979 26,323 28,190 33,175 34,407 35,067
EBITDA 1 13,363 15,935 15,822 16,178 17,470 18,850 19,044 19,102
EBIT 1 11,157 12,334 12,424 12,761 13,399 14,819 15,571 15,664
Net income 1 7,842 7,264 5,893 6,552 6,717 4,983 6,259 6,979
Net Debt 1 20,992 22,339 25,272 29,640 53,669 49,463 43,844 38,245
Reference price 2 241.07 229.92 224.97 262.64 288.02 275.42 275.42 275.42
Nbr of stocks (in thousands) 594,184 582,169 563,266 533,579 535,178 537,533 537,533 -
Announcement Date 1/30/20 2/2/21 2/7/22 1/31/23 2/6/24 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

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P/E ratio EV / Sales EV / EBITDA Yield Capi. ($)
30.42x5.99x10.55x+3.25%149B
61.02x15.74x44x+0.68%690B
25.98x9.22x18.6x+1.88%360B
21.18x4.1x11.98x+3.25%353B
37.66x6.42x14.25x+3.65%302B
13.72x4.17x9.96x+3.16%244B
16.71x3.89x10.16x+3.59%243B
25.56x4.39x13.83x+2.28%211B
17.87x4.22x10.75x+3.78%199B
15.05x3.3x8.38x+6.30%150B
Average 26.52x 6.14x 15.25x +3.18% 290.15B
Weighted average by Cap. 32.22x 7.82x 20.12x +2.65%
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Year-on-year evolution of the PER

evolution-chart AMGEN-INC

Historical PBR trend

evolution-chart AMGEN-INC

Evolution Enterprise Value / Sales

evolution-chart AMGEN-INC

Change in Enterprise Value/EBITDA

evolution-chart AMGEN-INC

Year-on-year evolution of the Yield

evolution-chart AMGEN-INC