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Amgen Valuation Multiples
Discover revenue and EBITDA valuation multiples for Amgen and similar public comparables like Gilead Sciences, Novo Nordisk, Pfizer, Bristol-Myers Squibb and more.
Amgen Overview
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drugs Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx Pharmaceuticals bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brought several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Founded
1980
HQ
Employees
31.5K
Website
Sectors
Financials (LTM)
EV
$253B
Amgen Financials
Amgen reported last 12-month revenue of $37B and EBITDA of $19B.
In the same LTM period, Amgen generated $31B in gross profit, $19B in EBITDA, and $12B in net income.
Revenue (LTM)
Amgen P&L
In the most recent fiscal year, Amgen reported revenue of $37B and EBITDA of $18B.
Amgen expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $37B | XXX | $37B | XXX | XXX | XXX |
| Gross Profit | $31B | XXX | $25B | XXX | XXX | XXX |
| Gross Margin | 83% | XXX | 67% | XXX | XXX | XXX |
| EBITDA | $19B | XXX | $18B | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 50% | XXX | XXX | XXX |
| EBIT Margin | 44% | XXX | 44% | XXX | XXX | XXX |
| Net Profit | $12B | XXX | $12B | XXX | XXX | XXX |
| Net Margin | 32% | XXX | 32% | XXX | XXX | XXX |
| Net Debt | — | — | $45B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Amgen Stock Performance
Amgen has current market cap of $208B, and enterprise value of $253B.
Market Cap Evolution
Amgen's stock price is $385.70.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $253B | $208B | 0.0% | XXX | XXX | XXX | $21.96 |
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Start Free TrialAmgen Valuation Multiples
Amgen trades at 6.9x EV/Revenue multiple, and 13.6x EV/EBITDA.
EV / Revenue (LTM)
Amgen Financial Valuation Multiples
As of March 19, 2026, Amgen has market cap of $208B and EV of $253B.
Equity research analysts estimate Amgen's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Amgen has a P/E ratio of 17.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $208B | XXX | $208B | XXX | XXX | XXX |
| EV (current) | $253B | XXX | $253B | XXX | XXX | XXX |
| EV/Revenue | 6.9x | XXX | 6.9x | XXX | XXX | XXX |
| EV/EBITDA | 13.6x | XXX | 13.7x | XXX | XXX | XXX |
| EV/EBIT | 15.6x | XXX | 15.7x | XXX | XXX | XXX |
| EV/Gross Profit | 8.3x | XXX | 10.3x | XXX | XXX | XXX |
| P/E | 17.5x | XXX | 17.6x | XXX | XXX | XXX |
| EV/FCF | 33.9x | XXX | 31.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Amgen Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Amgen Margins & Growth Rates
Amgen's revenue in the last 12 month grew by 3%.
Amgen's revenue per employee in the last FY averaged $1.2M.
Amgen's rule of 40 is 53% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Amgen's rule of X is 58% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Amgen Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 3% | XXX | 3% | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 50% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | 3% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 53% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 58% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.2M | XXX | XXX | XXX |
| R&D Expenses to Revenue | 20% | XXX | 20% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 43% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Amgen Public Comps
See public comps and valuation multiples for other Biopharmaceuticals comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Gilead Sciences | XXX | XXX | XXX | XXX | XXX | XXX |
| Novo Nordisk | XXX | XXX | XXX | XXX | XXX | XXX |
| Pfizer | XXX | XXX | XXX | XXX | XXX | XXX |
| Bristol-Myers Squibb | XXX | XXX | XXX | XXX | XXX | XXX |
| AstraZeneca | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Amgen M&A Activity
Amgen acquired XXX companies to date.
Last acquisition by Amgen was on XXXXXXXX, XXXXX. Amgen acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Amgen
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialAmgen Investment Activity
Amgen invested in XXX companies to date.
Amgen made its latest investment on XXXXXXXX, XXXXX. Amgen invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Amgen
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Amgen
| When was Amgen founded? | Amgen was founded in 1980. |
| Where is Amgen headquartered? | Amgen is headquartered in United States. |
| How many employees does Amgen have? | As of today, Amgen has over 31K employees. |
| Who is the CEO of Amgen? | Amgen's CEO is Robert A. Bradway. |
| Is Amgen publicly listed? | Yes, Amgen is a public company listed on Nasdaq. |
| What is the stock symbol of Amgen? | Amgen trades under AMGN ticker. |
| When did Amgen go public? | Amgen went public in 1983. |
| Who are competitors of Amgen? | Amgen main competitors are Gilead Sciences, Novo Nordisk, Pfizer, Bristol-Myers Squibb. |
| What is the current market cap of Amgen? | Amgen's current market cap is $208B. |
| What is the current revenue of Amgen? | Amgen's last 12 months revenue is $37B. |
| What is the current revenue growth of Amgen? | Amgen revenue growth (NTM/LTM) is 3%. |
| What is the current EV/Revenue multiple of Amgen? | Current revenue multiple of Amgen is 6.9x. |
| Is Amgen profitable? | Yes, Amgen is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Amgen? | Amgen's last 12 months EBITDA is $19B. |
| What is Amgen's EBITDA margin? | Amgen's last 12 months EBITDA margin is 50%. |
| What is the current EV/EBITDA multiple of Amgen? | Current EBITDA multiple of Amgen is 13.6x. |
| What is the current FCF of Amgen? | Amgen's last 12 months FCF is $7B. |
| What is Amgen's FCF margin? | Amgen's last 12 months FCF margin is 20%. |
| What is the current EV/FCF multiple of Amgen? | Current FCF multiple of Amgen is 33.9x. |
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