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Amgen AMGN Q2 2025 earnings

Reported August 5, 2025 · After market close

Revenue$9.2BBeat by $231.5M
EPS$6.02Beat by $0.74
Revenue estimate$8.9B
EPS estimate$5.28

Next report

Nov 3, 2026 (in a month)
Revenue estimate$10.0B
EPS estimate$5.78

Financials

Q2 2025

Income statement

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Revenue$9.2B+9.4%
Gross profit$6.2B+19.7%
Operating income$2.7B+39.1%
Net income$1.4B+92.0%
EPS (diluted)$2.65+92.0%

Balance sheet

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Cash & equivalents$542.0M+10.8%
Total debt$56.2B-10.3%
Total equity$7.4B+25.4%
Total assets$87.9B-3.3%

Cash flow

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Operating cash flow$2.3B-7.3%
CapEx$369.0M+55.0%
Free cash flow$1.9B-14.0%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$149.21B-11.0%
Enterprise value$204.87B-10.8%
P/E22.5×-31.0×
P/S4.3×-1.1×

Profitability

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Gross margin64.5%+1.2pp
Operating margin23.5%+3.4pp
Net margin19%+8.8pp
FCF margin30.4%+12.7pp

Returns & leverage

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Return on equity99.1%+49.9pp
Debt / equity7.6×-3.0×
Current ratio1.3×0.0×

Segments

By product

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Other products$1.4B+4.1%
Prolia$1.1B-3.7%
Repatha$754.0M—
Otezla$618.0M+13.6%
ENBREL$604.0M-33.6%

By segment

See full
Reportable Segment$9.2B+9.4%

By geography

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ROW$2.6B+8.1%

FAQ

When did Amgen report Q2 2025 earnings?
Amgen (AMGN) reported Q2 2025 earnings on August 5, 2025 after market close.
What were Amgen's Q2 2025 revenue and EPS?
Amgen reported revenue of $9.2B and eps of $6.02 for Q2 2025.
Did Amgen beat estimates in Q2 2025?
Revenue beat the consensus estimate of $8.9B by $231.5M. EPS beat the consensus estimate of $5.28 by $0.74.
How did Amgen's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.3% from $8.4B a year earlier and eps grew 21.1% from $4.97.
Where can I find Amgen's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000318154-25-000054) and the 10-Q periodic report (0000318154-25-000056) directly on SEC EDGAR. The filing index links above go to sec.gov.