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Amgen AMGN Q4 2025 Annual earnings

Reported February 3, 2026 · After market close

Revenue$9.9BBeat by $392.0M
EPS$5.29Beat by $0.56
Revenue estimate$9.5B
EPS estimate$4.73

Next report

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

Financials

Q4 2025

Income statement

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Revenue$9.9B+8.6%
Gross profit$6.9B+15.3%
Operating income$2.7B+17.7%
Net income$1.3B+113%
EPS (diluted)$2.46+112%

Balance sheet

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Cash & equivalents$604.0M+24.0%
Total debt$55.4B-8.9%
Total equity$8.7B+47.3%
Total assets$90.6B-1.4%

Cash flow

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Operating cash flow$1.6B-66.4%
CapEx$642.0M+73.0%
Free cash flow$961.0M-78.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$176.25B+25.8%
Enterprise value$231.08B+15.3%
P/E22.9×-11.4×
P/S4.8×+0.6×

Profitability

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Gross margin67.2%+5.7pp
Operating margin24.7%+3.0pp
Net margin21%+8.7pp
FCF margin22%-9.1pp

Returns & leverage

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Return on equity106.1%+38.5pp
Debt / equity6.4×-4.0×
Current ratio1.1×-0.1×

Segments

By product

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Other products$2.1B+32.2%
Prolia$1.1B-9.5%
Repatha$754.0M—
Otezla$625.0M+0.2%
EVENITY$599.0M+39.0%

FAQ

When did Amgen report Q4 2025 earnings?
Amgen (AMGN) reported Q4 2025 earnings on February 3, 2026 after market close.
What were Amgen's Q4 2025 revenue and EPS?
Amgen reported revenue of $9.9B and eps of $5.29 for Q4 2025.
Did Amgen beat estimates in Q4 2025?
Revenue beat the consensus estimate of $9.5B by $392.0M. EPS beat the consensus estimate of $4.73 by $0.56.
How did Amgen's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.6% from $9.1B a year earlier and eps declined 0.4% from $5.31.
Where can I find Amgen's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000318154-26-000003) and the 10-K periodic report (0000318154-26-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.