Amgen Inc. (AMGN) financial statements: income statement, balance sheet and cash flow

Amgen Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Amgen Inc. reported revenue of $36.8B (+10.0% year on year) and net income of $7.7B (+88.5% year on year).

Income statement

Amgen Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total revenues	$36.8B	$33.4B	$28.2B	$26.3B
Cost of sales	$12.0B	$12.9B	$8.5B	$6.4B
Research and development	$7.3B	$6.0B	$4.8B	$4.4B
Selling, general and administrative	$7.0B	$7.1B	$6.2B	$5.4B
Other	$1.3B	$248.0M	$879.0M	$503.0M
Total operating expenses	$27.7B	$26.2B	$20.3B	$16.8B
Operating income	$9.1B	$7.3B	$7.9B	$9.6B
Interest expense, net	($2.8B)	($3.2B)	($2.9B)	($1.4B)
Other income, net	$2.7B	$506.0M	$2.8B	($814.0M)
Total income before income taxes	$9.0B	—	—	—
Provision for income taxes	$1.3B	$519.0M	$1.1B	$794.0M
Net income	$7.7B	$4.1B	$6.7B	$6.6B
Basic (in usd per share)	$14.33	$7.62	$12.56	$12.18
Diluted (in usd per share)	$14.23	$7.56	$12.49	$12.11
Basic (in shares)	538.0M	537.0M	535.0M	538.0M
Diluted (in shares)	542.0M	541.0M	538.0M	541.0M

Amgen Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total revenues	$10.1B	$8.6B	$9.6B	$9.2B
Cost of sales	$2.8B	$2.7B	$3.1B	$3.0B
Research and development	$1.9B	$1.7B	$1.9B	$1.7B
Selling, general and administrative	$1.7B	$1.6B	$1.7B	$1.7B
Other	$116.0M	($113.0M)	$329.0M	$77.0M
Total operating expenses	$6.5B	$6.0B	$7.0B	$6.5B
Operating income	$3.5B	$2.7B	$2.5B	$2.7B
Interest expense, net	($673.0M)	($657.0M)	($685.0M)	($694.0M)
Other (expense) income, net	($73.0M)	$75.0M	$2.1B	($394.0M)
Income before income taxes	$2.8B	$2.1B	$3.9B	$1.6B
Provision for income taxes	$393.0M	$265.0M	$705.0M	$136.0M
Net income	$2.4B	$1.8B	$3.2B	$1.4B
Basic (in usd per share)	$4.40	$3.37	$5.98	$2.66
Diluted (in usd per share)	$4.37	$3.34	$5.93	$2.65
Basic (in shares)	540.0M	540.0M	538.0M	538.0M
Diluted (in shares)	544.0M	544.0M	542.0M	541.0M

Balance sheet

Amgen Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$9.1B	$12.0B	$10.9B	$7.6B
Trade receivables, net	$9.6B	$6.8B	$7.3B	$5.6B
Inventories	$6.2B	$7.0B	$9.5B	$4.9B
Other current assets	$4.1B	$3.3B	$2.6B	$2.4B
Total current assets	$29.1B	$29.0B	$30.3B	$22.2B
Property, plant and equipment, net	$7.9B	$6.5B	$5.9B	$5.4B
Intangible assets, net	$22.3B	$27.7B	$32.6B	$16.1B
Goodwill	$18.7B	$18.6B	$18.6B	$15.5B
Other noncurrent assets	$12.7B	$9.9B	$9.6B	$5.9B
Total assets	$90.6B	$91.8B	$97.2B	$65.1B
Accounts payable	$2.4B	$1.9B	$1.6B	$1.6B
Accrued liabilities	$18.5B	$17.6B	$15.4B	$12.5B
Current portion of long-term debt	$4.6B	$3.5B	$1.4B	$1.6B
Total current liabilities	$25.5B	$23.1B	$18.4B	$15.7B
Long-term debt	$50.0B	$56.5B	$63.2B	$37.4B
Long-term deferred tax liabilities	$1.4B	$1.6B	$2.4B	—
Long-term tax liabilities	$2.7B	$2.3B	$4.7B	$5.8B
Other noncurrent liabilities	$2.4B	$2.3B	$2.3B	$2.7B
Common stock and additional paid-in capital; $0.0001 par value per share; 2,750.0 shares authorized; outstanding—538.8 shares in 2025 and 536.9 shares in 2024	$34023000000.00	$33533000000.00	$33070000000.00	$32514000000.00
Accumulated deficit	($25.1B)	($27.6B)	($26.5B)	($28.6B)
Accumulated other comprehensive loss	($258.0M)	($66.0M)	($289.0M)	($231.0M)
Total stockholders’ equity	$8.7B	$5.9B	$6.2B	$3.7B
Total liabilities and stockholders’ equity	$90.6B	$91.8B	$97.2B	$65.1B

Amgen Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$14.0B	$12.0B	$9.4B	$8.0B
Trade receivables, net	$10.2B	$9.1B	$8.5B	$8.7B
Inventories	$6.2B	$6.2B	$6.3B	$6.6B
Other current assets	$4.5B	$4.1B	$3.6B	$3.4B
Total current assets	$35.0B	$31.5B	$27.9B	$26.7B
Property, plant and equipment, net	$8.5B	$8.2B	$7.2B	$6.9B
Intangible assets, net	$20.5B	$21.4B	$23.1B	$24.6B
Goodwill	$18.7B	$18.7B	$18.7B	$18.7B
Other noncurrent assets	$13.0B	$12.8B	$13.2B	$11.0B
Total assets	$95.6B	$92.5B	$90.1B	$87.9B
Accounts payable	$2.9B	$2.9B	$2.8B	$3.0B
Accrued liabilities	$17.2B	$16.6B	$16.8B	$15.0B
Current portion of long-term debt	$5.4B	$5.4B	$2.2B	$2.4B
Total current liabilities	$25.5B	$25.0B	$21.8B	$20.5B
Long-term debt	$51.9B	$51.9B	$52.4B	$53.8B
Long-term deferred tax liabilities	$1.3B	$1.3B	$1.5B	$1.4B
Long-term tax liabilities	$2.8B	$2.8B	$2.6B	$2.5B
Other noncurrent liabilities	$2.4B	$2.4B	$2.2B	$2.3B
Common stock and additional paid-in capital; $0.0001 par value; 2,750.0 shares authorized; outstanding—540.6 shares in 2026 and 538.8 shares in 2025	34.1B	34.0B	33.8B	33.7B
Accumulated deficit	($22.3B)	($24.6B)	($23.8B)	($25.7B)
Accumulated other comprehensive loss	($119.0M)	($190.0M)	($422.0M)	($544.0M)
Total stockholders’ equity	$11.7B	$9.2B	$9.6B	$7.4B
Total liabilities and stockholders’ equity	$95.6B	$92.5B	$90.1B	$87.9B

Cash flow statement

Amgen Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$7.7B	$4.1B	$6.7B	$6.6B
Depreciation, amortization and other	$5.2B	$5.6B	$4.1B	$3.4B
Impairment of intangible assets	$1.2B	—	—	—
Stock-based compensation expense	$494.0M	$530.0M	$431.0M	$401.0M
Deferred income taxes	($721.0M)	($1.2B)	($1.3B)	($1.2B)
(Gains) losses on equity securities	($2.1B)	$159.0M	($1.6B)	—
Other items, net	$149.0M	($8.0M)	$563.0M	($176.0M)
Trade receivables, net	($2.7B)	$441.0M	($1.0B)	($746.0M)
Inventories	$886.0M	$2.5B	$491.0M	($742.0M)
Other assets	($1.3B)	($652.0M)	($564.0M)	$258.0M
Accounts payable	$428.0M	$312.0M	($402.0M)	$154.0M
Accrued income taxes, net	($2.1B)	($1.0B)	($1.0B)	($647.0M)
Long-term tax liabilities	$311.0M	($492.0M)	$371.0M	$229.0M
Accrued liabilities	$499.0M	$92.0M	—	—
Accrued sales incentives and allowance	$2.1B	$1.2B	$935.0M	—
Other liabilities	($156.0M)	($51.0M)	$731.0M	$761.0M
Net cash provided by operating activities	$10.0B	$11.5B	$8.5B	$9.7B
Cash paid for acquisitions, net of cash acquired	($53.0M)	$0	($27.0B)	($3.8B)
Proceeds from sales of marketable securities	$0	$0	$1.1B	$98.0M
Proceeds from maturities of marketable securities	$0	$0	$550.0M	$1.1B
Purchases of property, plant and equipment	($1.9B)	($1.1B)	($1.1B)	($936.0M)
Other	($32.0M)	$50.0M	$225.0M	($12.0M)
Net cash used in investing activities	($1.9B)	($1.0B)	($26.2B)	($6.0B)
Net proceeds from issuance of debt	$0	$0	$27.8B	$6.9B
Extinguishment of debt	($683.0M)	($659.0M)	($647.0M)	($297.0M)
Repayment of debt	($5.0B)	($3.6B)	($1.5B)	$0
Repurchases of common stock	$0	($200.0M)	$0	($6.4B)
Dividends paid	($5.1B)	($4.8B)	($4.6B)	($4.2B)
Other	($52.0M)	($124.0M)	($72.0M)	($103.0M)
Net cash (used in) provided by financing activities	($10.9B)	($9.4B)	$21.0B	($4.0B)
(Decrease) increase in cash and cash equivalents	($2.8B)	$1.0B	$3.3B	($360.0M)
Cash and cash equivalents at beginning of year	$12.0B	$10.9B	$7.6B	$8.0B
Cash and cash equivalents at end of year	$9.1B	$12.0B	$10.9B	$7.6B

Amgen Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$4.2B	$1.8B	$6.4B	$3.2B
Depreciation, amortization and other	$2.2B	$1.1B	$4.0B	$2.7B
Impairment of intangible assets	$0	$0	$1.2B	$800.0M
Stock-based compensation expense	$240.0M	$75.0M	$369.0M	$242.0M
Deferred income taxes	($467.0M)	($176.0M)	($702.0M)	($672.0M)
Loss (gain) on equity securities	$301.0M	$143.0M	($2.7B)	($741.0M)
Other items, net	$8.0M	($67.0M)	($101.0M)	($73.0M)
Trade receivables, net	($680.0M)	$413.0M	($1.6B)	($1.8B)
Inventories	($13.0M)	$18.0M	$767.0M	$527.0M
Other assets	($322.0M)	$8.0M	($690.0M)	($407.0M)
Accounts payable	$501.0M	$571.0M	$912.0M	$1.1B
Accrued income taxes, net	($60.0M)	$71.0M	($1.7B)	($2.3B)
Long-term tax liabilities	$148.0M	$71.0M	$236.0M	$162.0M
Accrued liabilities	($58.0M)	($959.0M)	($250.0M)	($50.0M)
Accrued sales incentives and allowance	$278.0M	($839.0M)	$2.3B	$1.1B
Other liabilities	($107.0M)	($75.0M)	($80.0M)	($70.0M)
Net cash provided by operating activities	$6.2B	$2.2B	$8.4B	$3.7B
Purchases of property, plant and equipment	($1.2B)	($712.0M)	($1.2B)	($780.0M)
Other	($60.0M)	($4.0M)	($34.0M)	($56.0M)
Net cash used in investing activities	($1.3B)	($716.0M)	($1.3B)	($836.0M)
Net proceeds from issuance of debt	$4.0B	$4.0B	—	—
Extinguishment of debt	($233.0M)	($233.0M)	($683.0M)	($602.0M)
Repayment of debt	($833.0M)	($833.0M)	($5.0B)	($3.5B)
Dividends paid	($2.7B)	($1.4B)	($3.8B)	($2.6B)
Other	($224.0M)	($104.0M)	($109.0M)	($119.0M)
Net cash used in financing activities	($46.0M)	$1.4B	($9.6B)	($6.8B)
Increase (decrease) in cash and cash equivalents	$4.9B	$2.9B	($2.5B)	($3.9B)
Cash and cash equivalents at beginning of period	$9.1B	$9.1B	$12.0B	$12.0B
Cash and cash equivalents at end of period	$14.0B	$12.0B	$9.4B	$8.0B

Amgen Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.