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Amgen AMGN Q3 2025 earnings

Reported November 4, 2025 · After market close

Revenue$9.6BBeat by $590.5M
EPS$5.64Beat by $0.62
Revenue estimate$9.0B
EPS estimate$5.02

Next report

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

Financials

Q3 2025

Income statement

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Revenue$9.6B+12.4%
Gross profit$6.5B+24.7%
Operating income$2.5B+23.4%
Net income$3.2B+13.6%
EPS (diluted)$5.93+13.6%

Balance sheet

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Cash & equivalents$737.0M+69.4%
Total debt$54.6B-9.6%
Total equity$9.6B+27.8%
Total assets$90.1B-0.8%

Cash flow

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Operating cash flow$4.7B+31.2%
CapEx$436.0M+69.6%
Free cash flow$4.2B+28.2%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$151.93B-12.2%
Enterprise value$205.78B-11.7%
P/E21.7×-19.2×
P/S4.2×-1.1×

Profitability

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Gross margin66.2%+5.7pp
Operating margin24.1%+5.0pp
Net margin19.5%+6.5pp
FCF margin32.1%+12.8pp

Returns & leverage

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Return on equity81.7%+26.0pp
Debt / equity5.7×-2.3×
Current ratio1.3×0.0×

Segments

By product

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Other products$1.9B+36.0%
Prolia$1.1B+9.0%
Otezla$585.0M+3.7%
ENBREL$580.0M-29.7%
TEPEZZA$560.0M+14.8%

By segment

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Reportable Segment$9.6B+12.4%

By geography

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ROW$2.6B+8.1%

FAQ

When did Amgen report Q3 2025 earnings?
Amgen (AMGN) reported Q3 2025 earnings on November 4, 2025 after market close.
What were Amgen's Q3 2025 revenue and EPS?
Amgen reported revenue of $9.6B and eps of $5.64 for Q3 2025.
Did Amgen beat estimates in Q3 2025?
Revenue beat the consensus estimate of $9.0B by $590.5M. EPS beat the consensus estimate of $5.02 by $0.62.
How did Amgen's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 12.4% from $8.5B a year earlier and eps grew 1.1% from $5.58.
Where can I find Amgen's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000318154-25-000070) and the 10-Q periodic report (0000318154-25-000072) directly on SEC EDGAR. The filing index links above go to sec.gov.