Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 126,718 140,139 154,142 140,103 176,250 186,048 - -
Change - 10.59% 9.99% -9.11% 25.8% 5.56% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 227,280 221,131 215,603
Change - 11.7% 22.4% -9.42% 17.8% 2.51% -2.71% -2.5%
P/E 21.9x 21.7x 23.1x 34.5x 23x 22.4x 20.4x 19.5x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 16.7x 13.3x 10.6x
PEG - 1.2x 7.36x -0.9x 0.3x 2.77x 2.06x 4.07x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 4.92x 4.8x 4.68x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 6.02x 5.71x 5.43x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 10.5x 10.2x 10.3x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 13.8x 13x 12.3x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 16.9x 14.6x 14.1x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 5.91% 6.83% 7.1%
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% - 2.93% 3.09% 3.23%
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 2 224.97 262.64 288.02 260.64 327.31 344.72 344.72 344.72
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.($)
22.41x6.02x10.5x2.93% 186B
32.11x11.73x24.06x0.62% 983B
24.72x5.7x15.5x2.31% 557B
28.55x6.84x14.01x3.01% 406B
16.98x4.23x10.4x3.14% 314B
22.08x4.62x13.09x1.89% 273B
20.6x5.34x12.96x3.01% 272B
13.31x4.94x10.16x3.78% 203B
-44.74x5.4x29.79x2.6% 155B
11.73x3.1x7.55x6.99% 143B
Average 14.77x 5.79x 14.80x 3.03% 349.33B
Weighted average by Cap. 21.62x 7.14x 16.62x 2.33%

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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