Amgen (AMGN): analysis in plain words
Is Amgen cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Amgen (AMGN) is listed on the Nasdaq and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Amgen according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Amgen (AMGN) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $478.48 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 29.7x | Price over earnings per share |
| Revenue growth | +9.5% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 23.0% | Profit for every 100 of sales |
| Net debt / EBITDA | 2.5x | Years of operating profit to repay debt |
| Dividend yield | 2.19% | Annual dividend over price |
| Market cap | $258.7 billion | What the stock market values it at |
The Amgen figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any AMGN figure that is not available shows as N/A: we do not estimate it.
How Amgen makes money
Amgen is a biotech that sells branded medicines such as Repatha for cholesterol, Prolia and Evenity for bone health, Enbrel and Tezspire for inflammation, and Tepezza and Krystexxa for rare diseases, along with biosimilars. It reports a single segment, and the United States accounts for most of its sales.
Over the last 12 months, Amgen brought in revenue of $38.1 billion. For every 100 it sells, Amgen keeps 71.9 after the direct cost of what it sells (gross margin) and 35.5 after all operating costs (operating margin). With 31,500 full-time employees, that is about $1 million of revenue per employee.
Amgen against its sector
To know whether a Amgen figure is high or low you have to put it next to similar companies. This table compares Amgen with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Amgen | healthcare and pharma median |
|---|---|---|
| P/E | 29.7x | 31.3x (30) |
| Revenue growth | +9.5% | +8.3% (33) |
| Net margin | 23.0% | 14.9% (33) |
| Dividend yield | 2.19% | 1.52% (33) |
| Net debt / EBITDA | 2.5x | 1.6x (31) |
In short, against the typical healthcare and pharma company, Amgen earns a wider margin, pays a higher dividend yield and carries more debt. By size, Amgen ranks number 7 of 28 healthcare and pharma companies quoted in USD on Fintols.
The bull case for Amgen
These are the strengths in the Amgen figures as of November 4, 2026:
- Its net margin over the last 12 months is 23.0% (sector median: 14.9%): Amgen turns a large share of its sales into profit.
- Analysts expect Amgen earnings to rise: its P/E on the next 12 months of estimated earnings is 19.5x, below the current 29.7x.
- Amgen earns 91.5% a year on its shareholders' money (return on equity).
The main risk for Amgen
The Amgen figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Amgen
Is it a good time to buy Amgen stock?
Fintols does not tell you whether to buy or sell Amgen, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Amgen stock trades at $478.48, 1% below its 52-week high ($482.48) and 58% above its low ($302.13). Its P/E is 29.7x against a healthcare and pharma median of 31.3x, and 19.5x on the earnings analysts expect over the next 12 months. With Amgen, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Amgen pay a dividend?
Yes. As of November 4, 2026, Amgen pays $10.08 per share a year, which at today's price is a yield of 2.19%. It uses 61% of its profit to pay it. Its average dividend yield over the last five years is 2.99%. The healthcare and pharma median on Fintols is 1.52%.
Is Amgen stock expensive?
It depends on what you compare it with. On P/E, Amgen trades at 29.7x its last 12 months of earnings: in line with the healthcare and pharma median (31.3x). Including its debt, Amgen is valued at 16.9x its EBITDA (EV/EBITDA). A high P/E alone does not make Amgen expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Amgen's competitors?
On Fintols we compare Amgen with AbbVie, Abbott and Eli Lilly, which are also in healthcare and pharma. As of November 4, 2026, AbbVie is worth $521.0 billion and trades on a P/E of 50.7; Abbott is worth $199.9 billion and trades on a P/E of 42.9; Eli Lilly is worth $1.26 trillion and trades on a P/E of 46.0. Each has a side-by-side comparison with Amgen below.
Amgen competitors
- AbbVie (ABBV) analysis · Amgen vs AbbVie comparison
- Abbott (ABT) analysis · Amgen vs Abbott comparison
- Eli Lilly (LLY) analysis · Amgen vs Eli Lilly comparison
To understand Amgen better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Amgen: healthcare and pharma stocks, S&P 500 companies and S&P 100 companies. Open the full AMGN analysis with its valuation and scenarios. Educational content about Amgen, not investment advice.