Stock Analysis on Net

Amgen Inc. (NASDAQ:AMGN)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Amgen Inc., profitability ratios (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Return on Sales
Gross profit margin 59.85% 58.71% 61.56% 64.76% 68.60% 72.35% 72.87% 73.65% 74.17% 73.99% 74.00% 73.30% 73.44% 74.00% 73.97% 74.37% 74.59%
Operating profit margin 22.66% 19.97% 20.96% 24.72% 29.35% 34.55% 37.50% 36.07% 38.57% 39.31% 38.04% 32.78% 31.44% 30.14% 30.72% 37.23% 37.70%
Net profit margin 12.77% 13.58% 10.60% 13.35% 24.96% 29.52% 31.52% 31.77% 26.42% 27.88% 26.73% 23.42% 24.25% 23.03% 23.80% 29.60% 29.97%
Return on Investment
Return on equity (ROE) 69.59% 56.20% 52.83% 74.93% 107.78% 98.82% 117.67% 148.04% 178.97% 187.11% 271.85% 624.78% 87.96% 68.26% 69.67% 75.91% 77.20%
Return on assets (ROA) 4.45% 4.65% 3.44% 4.05% 6.91% 8.36% 8.84% 8.92% 10.06% 10.73% 11.09% 9.67% 9.63% 8.63% 9.61% 11.33% 11.54%

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Amgen Inc. gross profit margin ratio deteriorated from Q2 2024 to Q3 2024 but then slightly improved from Q3 2024 to Q4 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Amgen Inc. operating profit margin ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Amgen Inc. net profit margin ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Amgen Inc. ROE improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
ROA A profitability ratio calculated as net income divided by total assets. Amgen Inc. ROA improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.

Gross Profit Margin

Amgen Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Gross profit from product sales 5,604 4,841 4,805 3,918 4,721 4,742 4,870 4,126 4,805 4,649 4,771 4,170 4,553 4,711 4,477 4,102 4,737 4,543 4,420 4,381
Product sales 8,716 8,151 8,041 7,118 7,833 6,548 6,683 5,846 6,552 6,237 6,281 5,731 6,271 6,320 6,114 5,592 6,334 6,104 5,908 5,894
Profitability Ratio
Gross profit margin1 59.85% 58.71% 61.56% 64.76% 68.60% 72.35% 72.87% 73.65% 74.17% 73.99% 74.00% 73.30% 73.44% 74.00% 73.97% 74.37% 74.59%
Benchmarks
Gross Profit Margin, Competitors2
AbbVie Inc. 69.99% 67.21% 62.75% 62.28% 62.42% 65.76% 68.91% 69.43% 70.00% 69.62% 70.48% 69.53% 68.96% 67.72% 65.62% 64.82% 66.41%
Bristol-Myers Squibb Co. 71.08% 74.91% 75.38% 75.71% 76.24% 76.54% 77.01% 77.68% 78.04% 78.82% 79.13% 79.62% 78.57% 76.92% 75.88% 74.42% 72.31%
Danaher Corp. 59.50% 59.37% 59.27% 58.39% 58.74% 58.77% 59.17% 60.22% 60.21% 60.65% 60.77% 60.77% 60.95% 60.44% 59.24% 57.60% 55.98%
Eli Lilly & Co. 81.31% 80.91% 80.75% 80.16% 79.25% 78.67% 77.77% 77.67% 76.77% 75.61% 75.98% 74.40% 74.18% 74.85% 74.27% 75.88% 77.66%
Gilead Sciences Inc. 78.15% 75.98% 75.56% 75.62% 75.87% 78.66% 79.27% 78.94% 79.03% 74.31% 75.30% 75.50% 75.56% 80.23% 79.90% 80.32% 81.23%
Johnson & Johnson 69.07% 69.05% 69.06% 69.20% 68.82% 68.54% 68.06% 67.34% 67.26% 67.43% 67.86% 67.97% 68.16% 67.51% 67.00% 66.24% 65.58%
Merck & Co. Inc. 76.32% 75.82% 75.25% 74.37% 73.17% 72.86% 72.96% 72.43% 70.63% 70.49% 70.41% 70.72% 72.02% 67.95% 67.48% 66.99% 67.74%
Pfizer Inc. 71.94% 67.73% 58.18% 58.09% 58.10% 60.97% 69.61% 68.61% 65.77% 65.53% 62.18% 60.35% 62.08% 65.28% 70.96% 76.46% 79.26%
Regeneron Pharmaceuticals Inc. 86.13% 86.12% 86.16% 86.32% 86.16% 85.96% 86.42% 86.96% 87.18% 85.39% 84.97% 84.65% 84.83% 86.65% 86.85% 86.84% 86.82%
Thermo Fisher Scientific Inc. 41.28% 40.77% 40.76% 40.40% 39.90% 39.87% 39.75% 40.28% 42.24% 44.42% 46.63% 48.37% 50.08% 51.05% 51.29% 51.47% 49.67%
Vertex Pharmaceuticals Inc. 86.11% 86.12% 86.45% 86.86% 87.21% 87.80% 87.92% 88.04% 87.90% 88.00% 88.13% 87.95% 88.06% 87.94% 87.89% 88.06% 88.14%

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Gross profit margin = 100 × (Gross profit from product salesQ4 2024 + Gross profit from product salesQ3 2024 + Gross profit from product salesQ2 2024 + Gross profit from product salesQ1 2024) ÷ (Product salesQ4 2024 + Product salesQ3 2024 + Product salesQ2 2024 + Product salesQ1 2024)
= 100 × (5,604 + 4,841 + 4,805 + 3,918) ÷ (8,716 + 8,151 + 8,041 + 7,118) = 59.85%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Amgen Inc. gross profit margin ratio deteriorated from Q2 2024 to Q3 2024 but then slightly improved from Q3 2024 to Q4 2024.

Operating Profit Margin

Amgen Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Operating income 2,311 2,047 1,909 991 1,271 2,021 2,684 1,921 2,230 2,660 2,176 2,500 2,304 2,378 828 2,129 2,008 2,453 2,323 2,355
Product sales 8,716 8,151 8,041 7,118 7,833 6,548 6,683 5,846 6,552 6,237 6,281 5,731 6,271 6,320 6,114 5,592 6,334 6,104 5,908 5,894
Profitability Ratio
Operating profit margin1 22.66% 19.97% 20.96% 24.72% 29.35% 34.55% 37.50% 36.07% 38.57% 39.31% 38.04% 32.78% 31.44% 30.14% 30.72% 37.23% 37.70%
Benchmarks
Operating Profit Margin, Competitors2
AbbVie Inc. 16.22% 24.89% 22.31% 23.50% 23.49% 27.32% 31.03% 28.49% 31.21% 30.59% 30.33% 32.68% 31.89% 30.09% 28.95% 23.63% 24.81%
Bristol-Myers Squibb Co. -15.50% -14.05% -14.39% -14.30% 16.18% 16.96% 17.29% 18.13% 17.96% 19.04% 18.19% 16.79% 15.91% -15.73% -17.02% -19.19% -21.60%
Danaher Corp. 20.37% 20.11% 21.22% 21.05% 21.77% 23.83% 25.06% 27.02% 27.61% 27.35% 25.44% 25.23% 25.35% 24.63% 25.04% 22.30% 18.99%
Eli Lilly & Co. 28.64% 24.81% 23.28% 20.80% 18.92% 18.42% 24.17% 22.45% 24.97% 24.65% 25.50% 25.94% 22.45% 23.17% 21.81% 22.06% 24.69%
Gilead Sciences Inc. 5.81% 2.92% 9.26% 5.79% 28.24% 30.37% 31.18% 33.03% 27.17% 22.39% 25.78% 26.56% 36.72% 42.79% 37.20% 18.07% 16.72%
Johnson & Johnson 23.42% 24.42% 25.31% 25.04% 24.90% 25.55% 25.61% 25.21% 24.63% 23.89% 23.47% 23.76% 24.95% 24.69% 25.23% 24.10% 23.60%
Merck & Co. Inc. 31.03% 21.60% 24.75% 6.93% 3.92% 13.08% 10.34% 27.85% 30.27% 30.66% 33.04% 28.85% 25.74% 14.07% 10.64% 14.02% 16.47%
Pfizer Inc. 19.51% 9.56% -4.19% -2.08% 2.15% 14.36% 28.13% 34.44% 34.83% 33.59% 30.37% 26.12% 23.91% 24.67% 24.12% 21.20% 19.47%
Regeneron Pharmaceuticals Inc. 28.10% 28.69% 28.95% 29.40% 30.85% 32.23% 34.20% 35.79% 38.93% 45.45% 48.19% 55.08% 55.67% 55.19% 53.94% 43.37% 42.09%
Thermo Fisher Scientific Inc. 17.11% 16.93% 17.01% 16.38% 16.00% 15.81% 15.42% 16.29% 18.69% 20.54% 22.51% 23.83% 25.57% 27.04% 28.00% 27.68% 24.19%
Vertex Pharmaceuticals Inc. -2.11% -2.54% -3.37% 41.16% 38.83% 40.16% 41.72% 43.93% 48.23% 47.72% 48.85% 36.93% 36.73% 37.17% 33.93% 47.14% 46.03%

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Operating profit margin = 100 × (Operating incomeQ4 2024 + Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024) ÷ (Product salesQ4 2024 + Product salesQ3 2024 + Product salesQ2 2024 + Product salesQ1 2024)
= 100 × (2,311 + 2,047 + 1,909 + 991) ÷ (8,716 + 8,151 + 8,041 + 7,118) = 22.66%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Amgen Inc. operating profit margin ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Net Profit Margin

Amgen Inc., net profit margin calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) 627 2,830 746 (113) 767 1,730 1,379 2,841 1,616 2,143 1,317 1,476 1,899 1,884 464 1,646 1,615 2,021 1,803 1,825
Product sales 8,716 8,151 8,041 7,118 7,833 6,548 6,683 5,846 6,552 6,237 6,281 5,731 6,271 6,320 6,114 5,592 6,334 6,104 5,908 5,894
Profitability Ratio
Net profit margin1 12.77% 13.58% 10.60% 13.35% 24.96% 29.52% 31.52% 31.77% 26.42% 27.88% 26.73% 23.42% 24.25% 23.03% 23.80% 29.60% 29.97%
Benchmarks
Net Profit Margin, Competitors2
AbbVie Inc. 7.59% 9.22% 9.71% 11.02% 8.95% 11.81% 15.50% 13.37% 20.39% 23.19% 22.04% 22.00% 20.54% 13.66% 12.40% 10.28% 10.08%
Bristol-Myers Squibb Co. -18.53% -15.30% -14.06% -13.50% 17.83% 18.44% 17.62% 15.95% 13.71% 14.29% 14.04% 13.31% 15.08% -11.89% -11.44% -14.53% -21.20%
Danaher Corp. 16.33% 16.39% 17.83% 18.54% 19.94% 22.89% 22.80% 23.32% 22.91% 21.65% 20.61% 21.32% 21.84% 20.97% 21.00% 19.17% 16.36%
Eli Lilly & Co. 23.51% 20.48% 18.86% 17.08% 15.36% 15.55% 22.01% 20.54% 21.88% 20.63% 19.58% 20.90% 19.71% 21.52% 22.71% 23.91% 25.24%
Gilead Sciences Inc. 1.68% 0.45% 3.82% 1.78% 21.03% 21.60% 20.18% 20.87% 17.02% 12.44% 15.22% 16.60% 23.05% 27.21% 19.62% 1.19% 0.51%
Johnson & Johnson 15.84% 16.74% 43.91% 44.92% 41.28% 39.58% 14.52% 13.77% 18.90% 19.95% 19.21% 20.90% 22.26% 19.55% 19.92% 17.95% 17.82%
Merck & Co. Inc. 26.68% 19.23% 21.98% 3.76% 0.61% 7.77% 5.34% 22.52% 24.49% 25.88% 29.00% 26.27% 26.79% 15.09% 11.83% 15.09% 14.72%
Pfizer Inc. 12.62% 7.04% -4.62% -0.55% 3.56% 15.13% 27.38% 31.19% 31.27% 29.81% 28.94% 27.01% 27.04% 28.77% 23.86% 24.03% 22.95%
Regeneron Pharmaceuticals Inc. 31.07% 33.61% 32.04% 29.45% 30.14% 30.47% 33.93% 33.81% 35.64% 39.17% 39.97% 48.06% 50.25% 51.65% 50.11% 43.53% 41.35%
Thermo Fisher Scientific Inc. 14.77% 14.48% 14.69% 14.20% 13.99% 13.68% 13.14% 13.75% 15.47% 15.92% 17.37% 18.49% 19.70% 21.93% 22.47% 22.08% 19.79%
Vertex Pharmaceuticals Inc. -4.86% -4.52% -4.74% 39.46% 36.68% 35.94% 35.40% 35.40% 37.20% 37.62% 38.26% 30.84% 30.92% 30.52% 29.80% 43.06% 43.70%

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Net profit margin = 100 × (Net income (loss)Q4 2024 + Net income (loss)Q3 2024 + Net income (loss)Q2 2024 + Net income (loss)Q1 2024) ÷ (Product salesQ4 2024 + Product salesQ3 2024 + Product salesQ2 2024 + Product salesQ1 2024)
= 100 × (627 + 2,830 + 746 + -113) ÷ (8,716 + 8,151 + 8,041 + 7,118) = 12.77%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Amgen Inc. net profit margin ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.

Return on Equity (ROE)

Amgen Inc., ROE calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) 627 2,830 746 (113) 767 1,730 1,379 2,841 1,616 2,143 1,317 1,476 1,899 1,884 464 1,646 1,615 2,021 1,803 1,825
Stockholders’ equity 5,877 7,527 5,925 5,022 6,232 7,656 6,781 5,348 3,661 3,653 2,419 916 6,700 8,217 8,247 9,334 9,409 10,959 10,659 9,485
Profitability Ratio
ROE1 69.59% 56.20% 52.83% 74.93% 107.78% 98.82% 117.67% 148.04% 178.97% 187.11% 271.85% 624.78% 87.96% 68.26% 69.67% 75.91% 77.20%
Benchmarks
ROE, Competitors2
AbbVie Inc. 128.66% 84.91% 78.77% 74.85% 46.94% 53.86% 67.50% 57.14% 68.60% 83.83% 86.24% 76.64% 74.91% 55.60% 53.01% 37.63% 35.30%
Bristol-Myers Squibb Co. -54.78% -42.34% -38.44% -37.28% 27.27% 28.57% 24.91% 22.97% 20.37% 20.44% 20.30% 19.79% 19.46% -14.52% -13.80% -16.54% -23.84%
Danaher Corp. 7.87% 7.59% 8.42% 8.24% 8.91% 11.29% 12.30% 13.47% 14.39% 14.40% 13.63% 13.93% 14.24% 13.54% 13.12% 11.76% 9.17%
Eli Lilly & Co. 74.62% 58.78% 54.14% 47.91% 48.65% 44.46% 58.73% 50.82% 58.64% 59.91% 66.61% 65.69% 62.16% 76.99% 94.20% 88.31% 109.79%
Gilead Sciences Inc. 2.48% 0.69% 5.77% 2.77% 24.81% 26.33% 25.92% 26.59% 21.62% 15.82% 20.44% 22.66% 29.55% 34.44% 26.20% 1.59% 0.68%
Johnson & Johnson 19.68% 20.93% 53.14% 54.95% 51.11% 48.61% 17.37% 17.95% 23.36% 25.68% 24.05% 26.54% 28.20% 25.44% 25.53% 22.96% 23.25%
Merck & Co. Inc. 36.96% 27.30% 31.52% 5.71% 0.97% 11.17% 8.04% 27.82% 31.57% 34.32% 38.34% 34.68% 34.17% 20.10% 16.73% 26.08% 27.91%
Pfizer Inc. 9.11% 4.61% -2.96% -0.33% 2.38% 10.81% 21.68% 28.77% 32.79% 32.14% 33.61% 30.29% 28.47% 26.28% 18.86% 16.23% 15.21%
Regeneron Pharmaceuticals Inc. 15.03% 15.87% 15.32% 14.29% 15.22% 16.03% 17.90% 17.80% 19.14% 25.05% 27.49% 39.84% 43.03% 40.53% 41.02% 33.43% 31.86%
Thermo Fisher Scientific Inc. 12.78% 12.52% 13.12% 13.26% 12.83% 13.11% 13.08% 14.26% 15.80% 16.15% 17.59% 18.56% 18.94% 22.13% 23.32% 22.60% 18.47%
Vertex Pharmaceuticals Inc. -3.26% -3.07% -3.32% 21.67% 20.59% 21.01% 21.75% 22.59% 23.88% 25.12% 26.77% 22.47% 23.19% 22.83% 21.66% 30.76% 31.22%

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
ROE = 100 × (Net income (loss)Q4 2024 + Net income (loss)Q3 2024 + Net income (loss)Q2 2024 + Net income (loss)Q1 2024) ÷ Stockholders’ equity
= 100 × (627 + 2,830 + 746 + -113) ÷ 5,877 = 69.59%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Amgen Inc. ROE improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Return on Assets (ROA)

Amgen Inc., ROA calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) 627 2,830 746 (113) 767 1,730 1,379 2,841 1,616 2,143 1,317 1,476 1,899 1,884 464 1,646 1,615 2,021 1,803 1,825
Total assets 91,839 90,883 90,907 92,980 97,154 90,534 90,269 88,720 65,121 63,700 59,294 59,196 61,165 64,993 59,773 62,539 62,948 64,637 65,011 61,669
Profitability Ratio
ROA1 4.45% 4.65% 3.44% 4.05% 6.91% 8.36% 8.84% 8.92% 10.06% 10.73% 11.09% 9.67% 9.63% 8.63% 9.61% 11.33% 11.54%
Benchmarks
ROA, Competitors2
AbbVie Inc. 3.17% 3.57% 3.76% 4.03% 3.61% 4.78% 6.42% 5.64% 8.53% 9.49% 8.83% 8.71% 7.88% 5.06% 4.50% 3.43% 3.07%
Bristol-Myers Squibb Co. -9.66% -7.75% -6.91% -6.21% 8.43% 9.08% 8.52% 7.75% 6.53% 6.80% 6.59% 6.07% 6.40% -4.87% -4.58% -5.53% -7.61%
Danaher Corp. 5.03% 4.83% 5.35% 5.28% 5.64% 6.74% 7.49% 8.15% 8.55% 8.35% 7.76% 7.74% 7.73% 7.13% 7.19% 6.30% 4.79%
Eli Lilly & Co. 13.45% 11.07% 10.22% 9.60% 8.19% 8.61% 11.85% 10.70% 12.62% 12.71% 12.09% 13.06% 11.44% 12.39% 12.70% 13.01% 13.28%
Gilead Sciences Inc. 0.81% 0.23% 1.97% 0.86% 9.12% 9.42% 8.80% 9.02% 7.27% 5.33% 6.58% 7.16% 9.16% 11.02% 7.59% 0.45% 0.18%
Johnson & Johnson 7.81% 8.24% 20.99% 22.37% 20.98% 20.85% 6.81% 6.49% 9.57% 10.94% 10.33% 11.12% 11.47% 9.98% 10.07% 8.76% 8.41%
Merck & Co. Inc. 14.62% 10.34% 12.20% 2.18% 0.34% 4.32% 2.98% 12.09% 13.30% 14.25% 15.48% 13.29% 12.35% 7.70% 6.14% 7.73% 7.72%
Pfizer Inc. 3.76% 1.94% -1.20% -0.14% 0.94% 4.87% 9.75% 14.85% 15.91% 15.32% 15.01% 13.58% 12.11% 11.10% 7.78% 7.01% 6.23%
Regeneron Pharmaceuticals Inc. 11.69% 12.43% 11.98% 11.22% 11.95% 12.41% 14.02% 13.91% 14.85% 19.40% 20.90% 30.11% 31.75% 29.55% 28.88% 22.53% 20.47%
Thermo Fisher Scientific Inc. 6.51% 6.11% 6.32% 6.21% 6.07% 6.12% 6.08% 6.36% 7.15% 7.77% 8.21% 8.20% 8.12% 11.64% 12.70% 12.02% 9.23%
Vertex Pharmaceuticals Inc. -2.38% -2.16% -2.43% 16.81% 15.92% 15.97% 16.54% 17.18% 18.30% 19.59% 20.50% 17.19% 17.44% 17.25% 16.30% 22.80% 23.07%

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
ROA = 100 × (Net income (loss)Q4 2024 + Net income (loss)Q3 2024 + Net income (loss)Q2 2024 + Net income (loss)Q1 2024) ÷ Total assets
= 100 × (627 + 2,830 + 746 + -113) ÷ 91,839 = 4.45%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Amgen Inc. ROA improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.