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Screener / SEC EDGAR /CIK 0000318154 /10-K filed Feb 13, 2026, compared with Feb 14, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
AMGNMDTGILDBMYABTTMO
Nasdaq Health care · Biotechnology

Amgen AMGN

AMGN quote by TradingView

Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) discovers, develops, manufactures and delivers innovative medicines to fight some of the world’s toughest diseases. 10-K, Item 1

Headquarters
Thousand Oaks, CA
CEO
Robert A. Bradway
Next results
around Feb 2, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $36.8B through the costs to a net profit of $7.7B · income statement of the 10-K

25% operating margin
Revenue to Gross profit: $24.7BRevenue to Cost of revenue: $12.0BGross profit to Operating profit: $9.1BGross profit to Operating expenses: $15.6BOperating profit to Net profit: $7.7BOperating profit to Tax & other: $1.4BOperating expenses to R&D: $7.3BOperating expenses to Sales, admin & other: $8.4B Revenue: $36.8B REVENUE $36.8B +10% Y/Y Gross profit: $24.7B · 67% margin GROSS PROFIT $24.7B 67% margin Cost of revenue: $12.0B · 33% of revenue COST OF REVENUE $12.0B 33% of revenue Operating profit: $9.1B · 25% margin OPERATING PROFIT $9.1B 25% margin · +25% Y/Y Operating expenses: $15.6B · 43% of revenue OPERATING EXPENSES $15.6B 43% of revenue Net profit: $7.7B · 21% margin NET PROFIT $7.7B 21% margin · +89% Y/Y Tax & other: $1.4B · 4% of revenue TAX & OTHER $1.4B 4% of revenue R&D: $7.3B · 20% of revenue R&D $7.3B 20% of revenue Sales, admin & other: $8.4B · 23% of revenue SALES, ADMIN & OTHER $8.4B 23% of revenue
Gross profit $24.7B 67% margin
Operating profit $9.1B 25% margin · +25% Y/Y
Net profit $7.7B 21% margin · +89% Y/Y
The full income statement, year by year

AMGN among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 10.0%, above 69% of 59 peers (their median 7.1%) REVENUE GROWTH 10.0% · above 69% Gross margin: 70.9%, above 72% of 50 peers (their median 64.2%) GROSS MARGIN 70.9% · above 72% Operating margin: 32.4%, above 96% of 50 peers (their median 13.4%) OPERATING MARGIN 32.4% · above 96% Net margin: 24.1%, above 86% of 59 peers (their median 9.5%) NET MARGIN 24.1% · above 86% FCF margin: 24.6%, above 87% of 55 peers (their median 15.2%) FCF MARGIN 24.6% · above 87% Return on capital: 11.4%, above 66% of 41 peers (their median 9.0%) RETURN ON CAPITAL 11.4% · above 66%
AMGN Peer median Below the median

What changed

17 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 13, 2026 against Feb 14, 2025.

Risk factors
17 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +41.1% vs revenue +10.0% (+31.2 pts)
10-K · XBRL
Accounting checks
10 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
3 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 10 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +41.1% vs revenue +10.0% (+31.2 pts)
  • Cash from operations $10.0B vs net income $7.7B (FY ending Dec 31, 2025)
9 more checks with nothing to note
  • Inventory -11.0% vs revenue +10.0% (-21.0 pts)
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: F-1; Sales deductions; F-2; Unrecognized tax benefits
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

17 paragraphs in Risk Factors that were not in the 10-K filed Feb 14, 2025. Quoted as filed.

All 17 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 14, 2025 10-K, ITEM 1A
    OB3 includes significant provisions related to taxation, such as the permanent extension of certain expiring provisions of the 2017 Tax Act, and modifications to the international tax framework. This legislation has multiple effective dates, with certain provisions effective in 2026 and beyond. While we have incorporated the impact of…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 14, 2025 10-K, ITEM 1A
    Acquisition activities are complex, time consuming and expensive and may result in unanticipated costs, delays, or other operational or financial problems related to integrating the acquired company and business with our company, which may divert our management’s attention from other business issues and opportunities may prevent us from…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 14, 2025 10-K, ITEM 1A
    System vulnerabilities and/or cybersecurity breaches experienced by our third-party service providers have constituted a substantial share of the information security risks that have affected us. For example, in the past we have experienced cybersecurity incidents involving third-party service providers, including incidents in which…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 14, 2025 10-K, ITEM 1A
    We are also subject to various laws and regulations globally regarding cybersecurity, privacy and data protection, including laws and regulations relating to the collection, storage, handling, use, disclosure, transfer and security of personal data. The legislative and regulatory environment regarding privacy and data protection…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$26.3B$28.2B$33.4B$36.8B
Net income$6.6B$6.7B$4.1B$7.7B
Operating cash flow$9.7B$8.5B$11.5B$10.0B
Free cash flow$8.8B$7.4B$10.4B$8.1B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$36.8B ▲ 10.0% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Amgen, Thousand Oaks, CA · from the 10-K filed Feb 13, 2026

Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) discovers, develops, manufactures and delivers innovative medicines to fight some of the world’s toughest diseases. We focus on areas of high unmet medical need and leverage our expertise to strive for solutions that dramatically improve people’s lives, while also reducing the social and economic burden of disease. We helped launch the biotechnology industry more than 45 years ago and have grown to be one of the world’s leading independent biotechnology companies. Our robust pipeline includes potential first-in-class medicines at all stages of development.

Headquarters
Thousand Oaks, CA
Country
United States
Listed on
Nasdaq
Fiscal year ends
December 31
Last results
Nov 3, 2026
Incorporated in
DE

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Sources

The 10-K filed Feb 13, 2026 (open at SEC), compared with the 10-K filed Feb 14, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/AMGN/export.csv") into a cell.