Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 126,718 140,139 154,142 140,103 176,250 182,206 - -
Change - 10.59% 9.99% -9.11% 25.8% 3.38% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 223,437 217,288 211,760
Change - 11.7% 22.4% -9.42% 17.8% 0.77% -2.75% -2.54%
P/E 21.9x 21.7x 23.1x 34.5x 23x 21.9x 20x 19.1x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 16.4x 13x 10.4x
PEG - 1.2x 7.36x -0.9x 0.3x 2.71x 2.02x 3.98x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 4.82x 4.7x 4.58x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 5.91x 5.61x 5.33x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 10.3x 10.1x 10.1x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 13.5x 12.8x 12.1x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 16.6x 14.4x 13.8x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 6.02% 6.95% 7.23%
Dividend per Share 2 7.04 7.76 8.52 9 - 10.09 10.66 11.13
Rate of return 3.13% 2.95% 2.96% 3.45% - 2.99% 3.16% 3.3%
EPS 2 10.28 12.11 12.49 7.56 14.23 15.38 16.91 17.72
Distribution rate 68.5% 64.1% 68.2% 119% - 65.6% 63% 62.8%
Net sales 1 25,979 26,323 28,190 33,424 36,751 37,780 38,749 39,740
EBITDA 1 15,822 16,178 17,470 20,620 21,370 21,638 21,587 21,007
EBIT 1 12,424 12,761 13,399 15,028 16,203 16,507 17,026 17,494
Net income 1 5,893 6,552 6,717 4,090 7,711 8,265 9,041 9,541
Net Debt 1 25,272 29,640 53,669 48,126 45,475 41,232 35,083 29,554
Reference price 2 224.97 262.64 288.02 260.64 327.31 337.60 337.60 337.60
Nbr of stocks (in thousands) 563,266 533,579 535,178 537,533 538,481 539,708 - -
Announcement Date 07/02/22 31/01/23 06/02/24 04/02/25 03/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.95x5.91x10.33x2.99% 182B
32.01x11.69x23.99x0.62% 980B
24.41x5.63x15.32x2.34% 550B
26.86x6.49x13.28x3.17% 382B
17.04x4.24x10.43x3.13% 316B
21.94x4.59x13.02x1.91% 272B
20.28x5.27x12.78x3.05% 268B
13x4.83x9.94x3.87% 199B
-44.34x5.36x29.54x2.62% 154B
11.79x3.11x7.57x6.95% 144B
Average 14.49x 5.71x 14.62x 3.07% 344.6B
Weighted average by Cap. 21.27x 7.06x 16.47x 2.36%

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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  4. Valuation Amgen Inc.
-40%: Exceptional extension
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