Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 126,718 140,139 154,142 140,103 176,250 191,704 - -
Change - 10.59% 9.99% -9.11% 25.8% 8.77% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 232,936 226,787 221,259
Change - 11.7% 22.4% -9.42% 17.8% 5.06% -2.64% -2.44%
P/E Ratio 21.9x 21.7x 23.1x 34.5x 23x 23.1x 21x 20x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 17.2x 13.7x 10.9x
PEG - 1.2x 7.36x -0.9x 0.3x 2.86x 2.12x 4.17x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 5.07x 4.95x 4.83x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 6.16x 5.85x 5.57x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 10.8x 10.5x 10.5x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 14.1x 13.3x 12.7x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 17.3x 15x 14.5x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 5.77% 6.66% 6.92%
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% - 2.84% 3% 3.13%
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 37,794 38,753 39,716
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 16,512 17,022 17,474
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 2 224.97 262.64 288.02 260.64 327.31 355.20 355.20 355.20
Nbr of stocks (in thousands) 563,266 533,579 535,178 537,533 538,481 539,708 - -
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.($)
33.15x12.05x24.81x0.6% 1,010B
25.74x5.93x16.13x2.22% 580B
27.88x6.79x13.86x3.01% 402B
17.71x4.37x10.73x3.04% 330B
21.24x5.49x13.32x2.92% 281B
22.78x4.74x13.47x1.85% 280B
12.7x4.75x9.72x3.95% 197B
-45x5.43x29.95x2.58% 156B
12.26x3.2x7.8x6.68% 149B
Average 14.27x 5.86x 15.53x 2.98% 376.27B
Weighted average by Cap. 22.19x 7.36x 17.37x 2.25%

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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