AMGNAmgen
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
The biggest changes in the 10-K filed 2026-02-13, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
+88.5% Big change FY to 2025-12-31 vs 2024-12-31“The increase in Other income, net, for 2025 was primarily due to current year net unrealized gains on equity investments, primarily BeOne, compared to net unrealized losses on equity investments in the prior year.”
Read it in the 10-K ↗
“The increase in our effective tax rate for 2025 compared with 2024 was primarily due to a change in earnings mix, including the net unrealized gains on equity investments compared to net unrealized losses on equity investments in the prior year, partially offset by the prior-year deferred tax adjustments associated with U.S. tax on the earnings of our foreign subsidiaries and the current year Otezla intangible asset impairment charges and related tax impacts.”
Read it in the 10-K ↗
Operating margin
21.7% → 24.7% (+3.0 pts) Big change FY to 2025-12-31 vs 2024-12-31“Operating expenses increased 6% for 2025, primarily driven by investments in Later-Stage Clinical Programs and Otezla intangible asset impairment charges in 2025, partially offset by lower amortization expense from acquisition-related assets, including the fair value step-up of inventory acquired from Horizon.”
Read it in the 10-K ↗
Cash from operations
-13.3% Big change FY to 2025-12-31 vs 2024-12-31“Cash provided by operating activities decreased in 2025 as compared to 2024 due to the timing of working capital items primarily driven by higher collections in the fourth quarter of 2024, partially offset by higher net income after adjustments for noncash items and lower interest payments.”
Read it in the 10-K ↗
Revenue
+10.0% FY to 2025-12-31 vs 2024-12-31“Total product sales increased 10% in 2025, driven by volume growth of 13%, partially offset by declines in net selling price of 3%.”
Read it in the 10-K ↗
“Total product sales increased 10% in 2025, driven by volume growth of 13%, partially offset by declines in net selling price of 3%.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on AMGN in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/AMGN/export.csv") into a cell.