Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 126,718 140,139 154,142 140,103 176,250 224,476 - -
Change - 10.59% 9.99% -9.11% 25.8% 27.36% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 266,144 260,489 255,433
Change - 11.7% 22.4% -9.42% 17.8% 20.03% -2.12% -1.94%
P/E 21.9x 21.7x 23.1x 34.5x 23x 26.3x 23.5x 22.7x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 20.3x 16.4x 13.2x
PEG - 1.2x 7.36x -0.9x 0.3x 2.4x 2x 6.13x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 5.77x 5.61x 5.44x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 6.84x 6.51x 6.19x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 12.1x 11.7x 11.5x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 15.7x 14.8x 14.1x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 22.9x 18x 16.9x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 4.36% 5.56% 5.91%
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% 2.43% 2.57% 2.68%
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 38,890 40,003 41,242
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 16,942 17,560 18,172
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 41,669 36,013 30,957
Reference price 2 224.97 262.64 288.02 260.64 327.31 415.21 415.21 415.21
Nbr of stocks (in thousands) 563,266 533,579 535,178 537,533 538,481 540,632 - -
Announcement Date 2/7/22 1/31/23 2/6/24 2/4/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.26x6.84x12.14x2.43% 224B
33.76x12.18x24.85x0.59% 1,052B
28.96x - - 2.06% 627B
31.84x7.42x15.42x2.75% 441B
19.79x4.7x11.65x2.81% 349B
21.42x5.54x13.77x2.89% 287B
19.89x4.11x11.68x2.14% 241B
13.32x4.79x9.96x3.83% 202B
-42.28x6.13x23.96x2.38% 172B
16.79x3.22x8.21x6.43% 153B
Average 16.97x 6.10x 14.63x 2.83% 374.79B
Weighted average by Cap. 23.87x 7.80x 17.26x 2.18%

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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