Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 126,718 140,139 154,142 140,103 176,250 198,264 - -
Change - 10.59% 9.99% -9.11% 25.8% 12.49% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 237,814 231,207 224,509
Change - 11.7% 22.4% -9.42% 17.8% 7.26% -2.78% -2.9%
P/E ratio 21.9x 21.7x 23.1x 34.5x 23x 24.7x 22.8x 20.9x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 16.6x 12.9x 9.66x
PEG - 1.2x 7.36x -0.9x 0.3x 5.54x 2.71x 2.3x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 5.24x 5.12x 5.01x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 6.28x 5.97x 5.67x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 11.2x 10.6x 10.1x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 14.3x 13.6x 12.9x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 17.7x 17.4x 16.2x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 5.64% 5.74% 6.16%
Dividend per Share 2 7.04 7.76 8.52 9 - 10.04 10.72 11.43
Rate of return 3.13% 2.95% 2.96% 3.45% - 2.73% 2.91% 3.11%
EPS 2 10.28 12.11 12.49 7.56 14.23 14.86 16.11 17.58
Distribution rate 68.5% 64.1% 68.2% 119% - 67.5% 66.5% 65.1%
Net sales 1 25,979 26,323 28,190 33,424 36,751 37,846 38,742 39,592
EBITDA 1 15,822 16,178 17,470 20,620 21,370 21,278 21,840 22,196
EBIT 1 12,424 12,761 13,399 15,028 16,203 16,669 17,014 17,420
Net income 1 5,893 6,552 6,717 4,090 7,711 8,045 8,736 9,560
Net Debt 1 25,272 29,640 53,669 48,126 45,475 39,550 32,944 26,245
Reference price 2 224.97 262.64 288.02 260.64 327.31 367.79 367.79 367.79
Nbr of stocks (in thousands) 563,266 533,579 535,178 537,533 538,481 539,068 - -
Announcement Date 2/7/22 1/31/23 2/6/24 2/4/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.74x6.28x11.18x2.73% 198B
28.72x10.82x21.74x0.68% 873B
25.68x5.98x16.28x2.19% 583B
24.62x6.7x13.46x3.08% 398B
17.19x4.19x10.36x3.16% 324B
24.12x5.03x13.93x1.73% 297B
20.99x5.66x13.99x2.86% 294B
27.09x4.75x14.85x2.91% 287B
20.13x6.12x11.08x2.24% 180B
12.57x3.19x7.6x6.55% 153B
Average 22.58x 5.87x 13.45x 2.81% 358.81B
Weighted average by Cap. 24.25x 6.78x 15.35x 2.3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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