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Amgen Inc AMGN

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Stock XNAS Rating as of
$298.99 +0.70 (0.23%)
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Company Report

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Amgen's Diversified Portfolio and Strengthening Pipeline Support a Wide Moat

Karen Andersen

Amgen has its roots in providing supportive-care products to kidney disease and cancer patients, but the firm has expanded its portfolio to include innovative drugs in therapeutic areas ranging from cardiology to immunology. Despite headwinds from biosimilar and branded competition, Amgen's newer blockbusters like cholesterol-lowering drug Repatha defend its wide moat and keep free cash flow above 30% of sales in our forecast.

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Price vs Fair Value

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AMGN is trading at a 417% premium.
Price
$298.50
Fair Value
$847.00
Uncertainty
High
1-Star Price
$856.62
5-Star Price
$853.50
Economic Moat
Pcxfq
Capital Allocation
Mpzqwylft

Bulls Say, Bears Say

Bulls

Amgen's pipeline had been stale since the launch of Prolia/Xgeva, but cholesterol drug Repatha and migraine drug Aimovig revived our enthusiasm for the firm's research engine, and Blincyto and Tezspire also look differentiated.

Bears

Biosimilars have been on the market in Europe since 2007 but have had a larger impact on Amgen since 2019 as US exposure intensifies.

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Trading Information

Previous Close Price
$298.29
Day Range
$296.00–299.66
52-Week Range
$218.44–329.72
Bid/Ask
$298.98 / $299.19
Market Cap
$160.52 Bil
Volume/Avg
550,869 / 2.6 Mil

Key Statistics

Price/Earnings (Normalized)
16.02
Price/Sales
5.43
Dividend Yield (Trailing)
2.93%
Dividend Yield (Forward)
3.02%
Total Yield
2.93%

Company Profile

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 drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx 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 brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Sector
Healthcare
Industry
Drug Manufacturers - General
Stock Style Box
Large Core
Total Number of Employees
26,700
Website
https://www.amgen.com

Competitors

Valuation

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Metric
AMGN
NVS
REGN
Price/Earnings (Normalized)
 16.0215.3723.73
Price/Book Value
 31.855.454.19
Price/Sales
 5.434.418.93
Price/Cash Flow
 18.8414.6325.24
Price/Earnings
AMGN
NVS
REGN

Financial Strength

Metric
AMGN
NVS
REGN
Quick Ratio
 0.840.614.40
Current Ratio
 1.420.905.27
Interest Coverage
 2.3811.3249.94
Quick Ratio
AMGN
NVS
REGN

Profitability

Metric
AMGN
NVS
REGN
Return on Assets (Normalized)
 10.91%13.39%15.57%
Return on Equity (Normalized)
 161.62%31.09%19.91%
Return on Invested Capital (Normalized)
 18.59%19.67%16.29%
Return on Assets
AMGN
NVS
REGN
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Drug Manufacturers - General Industry Comparables

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1-Day Chart
Name
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Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
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ABBV
BmmmnnvyYzhbq$294.1 Bil
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NVS
TqmpcpglvSbbxp$215.0 Bil
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PFE
HpmcgrqWtbqm$156.7 Bil
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