Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 126,718 140,139 154,142 140,103 176,250 239,089 - -
Change - 10.59% 9.99% -9.11% 25.8% 35.65% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 280,575 274,917 269,920
Change - 11.7% 22.4% -9.42% 17.8% 26.54% -2.02% -1.82%
P/E 21.9x 21.7x 23.1x 34.5x 23x 28x 25x 24.1x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 21.1x 17.3x 13.9x
PEG - 1.2x 7.36x -0.9x 0.3x 2.5x 2.1x 6.51x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 6.14x 5.95x 5.76x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 7.21x 6.84x 6.5x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 12.8x 12.4x 12.1x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 16.5x 15.6x 14.7x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 25.2x 18.7x 17.5x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 3.96% 5.36% 5.7%
Dividend per Share 2 7.04 7.76 8.52 9 9.52 10.09 10.66 11.12
Rate of return 3.13% 2.95% 2.96% 3.45% 2.91% 2.28% 2.41% 2.51%
EPS 2 10.28 12.11 12.49 7.56 14.23 15.81 17.68 18.33
Distribution rate 68.5% 64.1% 68.2% 119% 66.9% 63.8% 60.3% 60.7%
Net sales 1 25,979 26,323 28,190 33,424 36,751 38,939 40,196 41,525
EBITDA 1 15,822 16,178 17,470 20,620 21,370 21,919 22,189 22,265
EBIT 1 12,424 12,761 13,399 15,028 16,203 16,964 17,660 18,321
Net income 1 5,893 6,552 6,717 4,090 7,711 8,598 9,394 9,890
Net Debt 1 25,272 29,640 53,669 48,126 45,475 41,486 35,828 30,831
Reference price 2 224.97 262.64 288.02 260.64 327.31 442.24 442.24 442.24
Nbr of stocks (in thousands) 563,266 533,579 535,178 537,533 538,481 540,632 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
35.12x12.73x25.81x0.56% 1,100B
30.38x - - 1.97% 658B
33.92x7.84x16.3x2.58% 470B
20.83x4.94x12.23x2.67% 372B
22.71x5.84x14.47x2.73% 304B
21.88x4.48x12.79x1.96% 264B
27.97x7.21x12.8x2.28% 239B
13.99x4.96x10.35x3.67% 213B
-45.46x6.56x25.6x2.22% 184B
Average 17.93x 6.82x 16.29x 2.29% 422.54B
Weighted average by Cap. 25.31x 8.41x 18.55x 1.89%

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