Company Valuation: Amgen Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 126,718 140,139 154,142 140,103 176,250 237,516 - -
Change - 10.59% 9.99% -9.11% 25.8% 34.76% - -
Enterprise Value (EV) 1 151,990 169,779 207,811 188,229 221,725 279,002 273,344 268,347
Change - 11.7% 22.4% -9.42% 17.8% 25.83% -2.03% -1.83%
P/E 21.9x 21.7x 23.1x 34.5x 23x 27.8x 24.9x 24x
PBR 18.7x 38.3x 24.7x 23.8x 20.4x 21x 17.1x 13.8x
PEG - 1.2x 7.36x -0.9x 0.3x 2.5x 2.1x 6.48x
Capitalization / Revenue 4.88x 5.32x 5.47x 4.19x 4.8x 6.1x 5.91x 5.72x
EV / Revenue 5.85x 6.45x 7.37x 5.63x 6.03x 7.17x 6.8x 6.46x
EV / EBITDA 9.61x 10.5x 11.9x 9.13x 10.4x 12.7x 12.3x 12.1x
EV / EBIT 12.2x 13.3x 15.5x 12.5x 13.7x 16.4x 15.5x 14.6x
EV / FCF 18.1x 19.3x 28.2x 18.1x 27.4x 25.1x 18.5x 17.4x
FCF Yield 5.51% 5.17% 3.54% 5.52% 3.65% 3.98% 5.39% 5.73%
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% 2.3% 2.43% 2.53%
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 2 224.97 262.64 288.02 260.64 327.31 439.33 439.33 439.33
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.74x12.95x26.26x0.55% 1,119B
30.06x - - 1.99% 651B
33.82x7.82x16.26x2.59% 468B
20.93x4.96x12.28x2.66% 374B
22.59x5.81x14.4x2.75% 302B
21.37x4.4x12.49x1.99% 259B
27.79x7.17x12.73x2.3% 238B
13.71x4.87x10.23x3.75% 208B
-44.65x6.45x25.18x2.26% 181B
Average 17.93x 6.80x 16.23x 2.31% 422.21B
Weighted average by Cap. 25.51x 8.51x 18.70x 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