Free cash flow
Amgen Free cash flow increased by 53.7% to $1.48B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 50.7%, from $980.00M to $1.48B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows relatively stable performance with a -0.8% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.75B | $2.18B | $2.52B | $1.97B | $1.68B | $2.82B | $2.31B | $720.00M | $3.84B | $2.51B | $289.00M | $459.00M | $2.22B | $3.31B | $4.40B | $980.00M | $1.91B | $4.25B | $961.00M | $1.48B |
| QoQ Change | — | +24.6% | +15.9% | -21.7% | -14.7% | +67.3% | -18.1% | -68.8% | +433.1% | -34.5% | -88.5% | +58.8% | +383.9% | +49.2% | +32.8% | -77.7% | +95.0% | +122.3% | -77.4% | +53.7% |
| YoY Change | — | — | — | — | -3.6% | +29.5% | -8.4% | -63.5% | +127.9% | -10.9% | -87.5% | -36.3% | -42.1% | +31.9% | >999% | +113.5% | -14.0% | +28.2% | -78.2% | +50.7% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Amgen's free cash flow?
- Amgen (AMGN) reported free cash flow of $1.48B in Q1 2026.
- How has Amgen's free cash flow changed year-over-year?
- Amgen's free cash flow increased by 50.7% year-over-year, from $980.00M to $1.48B.
- What is the long-term trend for Amgen's free cash flow?
- Over 4 years (2021 to 2025), Amgen's free cash flow has grown at a -0.8% compound annual growth rate (CAGR), from $8.38B to $8.10B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.