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Amgen AMGN Operating margin

Operating margin at other companies

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24.7%-2.3pp
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-242%
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Rigel PharmaceuticalsRIGL
41.6%+19.9pp
Jazz Pharmaceuticals logo
Jazz PharmaceuticalsJAZZ
-11.9%-28.1pp
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AnaptysBio, Inc.ANAB
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Protagonist Therapeutics logo
Protagonist TherapeuticsPTGX
-192.4%-205pp

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$207.87B+28.0%
Enterprise value$264.64B+21.4%
P/E26.7×+2.1×
P/S5.6×+0.9×

Profitability

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Gross margin68.3%+5.3pp
Net margin21%+3.6pp
FCF margin23.1%-8.9pp

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 source filing: Amgen’s 10-Q, filed April 30, 2026. Open the filing →

Filed
Apr 30, 2026, 7:04 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000318154-26-000057

FAQ

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 5 years (2020 to 2025), Amgen's operating margin has grown at a -7.2% compound annual growth rate (CAGR), from 35.9% to 24.7%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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