Amgen reported 8% revenue growth and 14% non-GAAP EPS growth in the third quarter. Management raised full-year guidance for both measures, with the revenue midpoint up $500 million to $39.3 billion and the non-GAAP EPS midpoint up $0.40 to $23.30. Shares fell 2% after hours on Nov. 3.
Amgen's cholesterol drug Repatha revived our enthusiasm for the firm's research engine, and Blincyto (blood cancer) and Tezspire (asthma) also look differentiated.
Biosimilars have been on the market in Europe since 2007 but have had a larger impact on Amgen since 2019 as US exposure intensifies. Pressure on Prolia/Xgeva intensified in 2026.
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Metric
|
AMGN
|
REGN
|
NVS
|
|---|---|---|---|
Price/Earnings (Normalized) | 20.62 | 19.14 | 16.24 |
Price/Book Value | 17.38 | 3.00 | 8.08 |
Price/Sales | 6.45 | 6.14 | 5.33 |
Price/Cash Flow | 20.86 | 17.77 | 15.65 |
|
Metric
|
AMGN
|
REGN
|
NVS
|
|---|---|---|---|
Quick Ratio | 1.01 | 2.72 | 0.58 |
Current Ratio | 1.48 | 3.35 | 0.88 |
Interest Coverage | 5.19 | 106.89 | 8.78 |
|
Metric
|
AMGN
|
REGN
|
NVS
|
|---|---|---|---|
Return on Assets (Normalized) | 13.57% | 14.40% | 14.70% |
Return on Equity (Normalized) | 117.90% | 18.83% | 40.76% |
Return on Invested Capital (Normalized) | 22.42% | 15.64% | 21.22% |
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1-Day Chart
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