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Amgen AMGN Operating margin

Operating margin at other companies

Regeneron Pharmaceuticals logo
Regeneron PharmaceuticalsREGN
24.3%-2.9pp
Revolution Medicines, Inc. logo
Revolution Medicines, Inc.RVMD
-88,031.9%-89,488pp
Roivant Sciences logo
Roivant SciencesROIV
-9,130.5%-13,995pp
Abbott logo
AbbottABT
17.1%+0.2pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
26.4%+2.8pp
ALN
Alnylam PharmaceuticalsALNY
17.5%+14.4pp

Other financials

Income statement

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Revenue$8.6B+5.8%
Gross profit$5.9B+13.4%
Operating income$2.7B+126%
Net income$1.8B+5.1%
EPS (diluted)$3.34+4.4%

Balance sheet

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Cash & equivalents$559.0M+10.0%
Total debt$57.3B-0.1%
Total equity$9.2B+48.1%
Total assets$92.5B+3.5%

Cash flow

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Operating cash flow$2.2B+57.4%
CapEx$712.0M+73.2%
Free cash flow$1.5B+50.7%

Valuation

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Market cap$184.4B+13.3%
Enterprise value$241.16B+9.9%
P/E23.6×-3.8×
P/S+0.2×

Profitability

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Gross margin68.3%+5.3pp
Net margin21%+3.6pp

Returns & leverage

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Return on equity101.3%-4.4pp
Debt / equity6.2×-3.0×
Current ratio1.3×+0.1×

Where this comes from

Calculated from Amgen’s reported figures.

Based on trailing twelve months.

The official record: Amgen’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Amgen's operating margin?
Amgen (AMGN) reported operating margin of 28.4% in Q1 2026.
How has Amgen's operating margin changed year-over-year?
Amgen's operating margin increased by 30.1% year-over-year, from 21.8% to 28.4%.
What is the long-term trend for Amgen's operating margin?
Over 4 years (2021 to 2025), Amgen's operating margin has grown at a -6.4% compound annual growth rate (CAGR), from 122.4% to 94.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.