Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Amgen Inc., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Amgen Inc. P/E ratio increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Amgen Inc. P/OP ratio increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Amgen Inc. P/S ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Amgen Inc. P/BV ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Price to Earnings (P/E)
Amgen Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 537,532,723 | 537,329,220 | 536,434,692 | 535,918,901 | 535,178,027 | 534,901,181 | 534,326,594 | 533,976,238 | 533,579,206 | 534,930,850 | 534,199,933 | 557,029,370 | 563,265,902 | 567,852,353 | 574,553,986 | 577,566,383 | 582,168,612 | 585,693,775 | 588,247,399 | 589,806,819 | 594,183,541 | 599,701,222 | 609,935,682 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Net income (loss) (in millions) | 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) | 1,703) | 1,968) | 2,179) | 1,992) | |||||||
| Earnings per share (EPS)2 | 7.87 | 5.83 | 7.01 | 12.53 | 14.14 | 14.92 | 14.82 | 12.27 | 12.81 | 12.29 | 10.71 | 10.58 | 9.96 | 10.12 | 12.33 | 12.58 | 12.63 | 12.46 | 13.05 | 13.30 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 320.16 | 312.50 | 311.29 | 290.07 | 255.70 | 243.28 | 239.74 | 240.00 | 269.04 | 246.25 | 238.13 | 222.66 | 218.13 | 228.31 | 236.71 | 236.65 | 217.82 | 248.85 | 230.98 | 227.00 | 210.88 | 186.58 | 176.14 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/E ratio4 | 40.68 | 53.65 | 44.38 | 23.14 | 18.09 | 16.31 | 16.18 | 19.56 | 21.00 | 20.03 | 22.23 | 21.05 | 21.91 | 22.56 | 19.20 | 18.82 | 17.25 | 19.97 | 17.70 | 17.07 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 69.16 | 62.04 | 48.26 | 63.84 | 38.27 | 30.55 | 34.43 | 22.62 | 19.16 | 19.44 | 21.64 | 22.07 | 27.34 | 30.62 | 39.63 | 40.17 | 22.60 | 23.92 | 14.70 | 17.82 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | — | — | — | 12.27 | 13.01 | 15.93 | 19.43 | 23.97 | 23.71 | 24.14 | 25.64 | 20.92 | — | — | — | — | — | — | 144.77 | 41.99 | — | — | — | |||||||
| Danaher Corp. | 48.49 | 45.39 | 42.59 | 39.09 | 24.76 | 29.99 | 25.00 | 25.65 | 26.65 | 32.73 | 32.15 | 29.94 | 38.81 | 37.87 | 39.26 | 44.49 | 46.61 | 41.91 | 35.88 | 38.34 | — | — | — | |||||||
| Eli Lilly & Co. | 96.05 | 109.42 | 120.94 | 135.24 | 110.43 | 76.21 | 65.16 | 50.08 | 55.53 | 51.05 | 45.29 | 40.66 | 40.07 | 40.34 | 28.77 | 31.95 | 22.54 | 25.59 | 26.56 | 16.19 | — | — | — | |||||||
| Gilead Sciences Inc. | 925.87 | 89.29 | 166.76 | 16.17 | 17.10 | 17.88 | 17.75 | 22.68 | 29.30 | 18.66 | 17.25 | 12.36 | 11.44 | 16.83 | 277.25 | 641.48 | 59.19 | — | 19.58 | 16.45 | — | — | — | |||||||
| Johnson & Johnson | 27.19 | 10.11 | 9.46 | 10.73 | 10.12 | 33.35 | 33.43 | 22.97 | 23.52 | 24.98 | 23.95 | 20.93 | 23.98 | 25.51 | 28.35 | 28.92 | 22.51 | 25.68 | 23.06 | 25.99 | — | — | — | |||||||
| Merck & Co. Inc. | 20.98 | 20.73 | 140.05 | 893.99 | 56.85 | 86.53 | 22.92 | 19.21 | 16.41 | 13.36 | 15.70 | 14.78 | 28.65 | 34.23 | 28.00 | 26.72 | 17.67 | 19.70 | 19.18 | 20.60 | — | — | — | |||||||
| Moderna Inc. | — | — | — | — | — | 34.67 | 10.70 | 6.43 | 4.82 | 5.19 | 4.21 | 5.00 | 16.31 | 48.08 | 107.74 | — | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 37.00 | — | — | 73.42 | 16.60 | 9.42 | 7.44 | 7.58 | 8.81 | 9.56 | 11.11 | 11.76 | 14.03 | 20.05 | 20.15 | 19.62 | 25.36 | 14.99 | 13.04 | 11.63 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 19.79 | 27.88 | 26.78 | 25.99 | 22.35 | 19.48 | 19.77 | 19.68 | 14.98 | 11.67 | 9.15 | 8.37 | 9.96 | 10.38 | 13.27 | 15.09 | 19.91 | 22.27 | 28.35 | 19.86 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 34.78 | 37.81 | 36.21 | 35.65 | 29.57 | 37.01 | 34.99 | 30.55 | 27.64 | 31.09 | 28.15 | 27.35 | 29.43 | 24.63 | 23.23 | 27.89 | 38.43 | 44.19 | 35.50 | 33.36 | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
EPS
= (Net income (loss)Q3 2024
+ Net income (loss)Q2 2024
+ Net income (loss)Q1 2024
+ Net income (loss)Q4 2023)
÷ No. shares of common stock outstanding
= (2,830,000,000 + 746,000,000 + -113,000,000 + 767,000,000)
÷ 537,532,723 = 7.87
3 Closing price as at the filing date of Amgen Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/E ratio = Share price ÷ EPS
= 320.16 ÷ 7.87 = 40.68
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Amgen Inc. P/E ratio increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024. |
Price to Operating Profit (P/OP)
Amgen Inc., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 537,532,723 | 537,329,220 | 536,434,692 | 535,918,901 | 535,178,027 | 534,901,181 | 534,326,594 | 533,976,238 | 533,579,206 | 534,930,850 | 534,199,933 | 557,029,370 | 563,265,902 | 567,852,353 | 574,553,986 | 577,566,383 | 582,168,612 | 585,693,775 | 588,247,399 | 589,806,819 | 594,183,541 | 599,701,222 | 609,935,682 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Operating income (in millions) | 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) | 2,048) | 2,476) | 2,678) | 2,472) | |||||||
| Operating profit per share2 | 11.57 | 11.52 | 12.99 | 14.74 | 16.55 | 17.75 | 16.82 | 17.91 | 18.07 | 17.49 | 14.99 | 13.71 | 13.04 | 13.06 | 15.51 | 15.82 | 15.77 | 15.71 | 16.25 | 16.40 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 320.16 | 312.50 | 311.29 | 290.07 | 255.70 | 243.28 | 239.74 | 240.00 | 269.04 | 246.25 | 238.13 | 222.66 | 218.13 | 228.31 | 236.71 | 236.65 | 217.82 | 248.85 | 230.98 | 227.00 | 210.88 | 186.58 | 176.14 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/OP ratio4 | 27.68 | 27.12 | 23.97 | 19.69 | 15.45 | 13.71 | 14.25 | 13.40 | 14.89 | 14.08 | 15.88 | 16.24 | 16.73 | 17.48 | 15.26 | 14.96 | 13.82 | 15.84 | 14.22 | 13.84 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 25.63 | 26.99 | 22.62 | 24.34 | 16.55 | 15.26 | 16.15 | 14.78 | 14.52 | 14.12 | 14.57 | 14.21 | 12.41 | 13.12 | 17.23 | 16.32 | 14.42 | 15.23 | 9.13 | 10.82 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | — | — | — | 13.53 | 14.14 | 16.24 | 17.09 | 18.29 | 17.79 | 18.62 | 20.32 | 19.84 | — | — | — | — | 39.45 | 33.97 | 27.33 | 24.42 | — | — | — | |||||||
| Danaher Corp. | 39.52 | 38.14 | 37.52 | 35.64 | 23.61 | 27.01 | 21.31 | 20.97 | 20.71 | 25.91 | 26.48 | 25.14 | 32.12 | 30.83 | 32.62 | 36.91 | 46.28 | 43.09 | 35.22 | 34.47 | — | — | — | |||||||
| Eli Lilly & Co. | 79.30 | 88.66 | 99.34 | 109.75 | 93.27 | 69.42 | 59.60 | 43.88 | 46.48 | 39.20 | 36.49 | 35.70 | 37.21 | 42.01 | 31.17 | 32.66 | 22.98 | 25.58 | 24.82 | 27.08 | — | — | — | |||||||
| Gilead Sciences Inc. | 143.05 | 36.80 | 51.26 | 12.05 | 12.16 | 11.57 | 11.21 | 14.21 | 16.27 | 11.02 | 10.78 | 7.76 | 7.27 | 8.88 | 18.31 | 19.38 | 29.86 | — | 21.83 | 20.66 | — | — | — | |||||||
| Johnson & Johnson | 18.65 | 17.54 | 16.96 | 17.78 | 15.69 | 18.91 | 18.26 | 17.62 | 19.64 | 20.45 | 21.06 | 18.68 | 18.99 | 20.14 | 21.12 | 21.84 | 19.46 | 19.66 | 18.67 | 19.83 | — | — | — | |||||||
| Merck & Co. Inc. | 18.67 | 18.41 | 75.94 | 138.56 | 33.75 | 44.67 | 18.53 | 15.55 | 13.85 | 11.72 | 14.29 | 15.39 | 30.71 | 38.03 | 30.14 | 23.89 | 16.00 | 17.23 | 15.88 | 17.47 | — | — | — | |||||||
| Moderna Inc. | — | — | — | — | — | 81.57 | 10.61 | 5.71 | 4.28 | 4.66 | 3.79 | 4.59 | 15.13 | 44.01 | 101.69 | — | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 27.24 | — | — | 121.54 | 17.49 | 9.17 | 6.74 | 6.80 | 7.82 | 9.11 | 11.49 | 13.30 | 16.37 | 19.83 | 22.85 | 23.12 | 22.27 | 22.17 | 17.42 | 14.36 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 23.18 | 30.86 | 26.82 | 25.39 | 21.13 | 19.32 | 18.68 | 18.01 | 12.91 | 9.68 | 7.98 | 7.55 | 9.32 | 9.65 | 13.32 | 14.82 | 20.36 | 23.98 | 26.60 | 19.01 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 29.74 | 32.66 | 31.40 | 31.16 | 25.59 | 31.55 | 29.54 | 25.30 | 21.43 | 23.99 | 21.84 | 21.07 | 23.87 | 19.77 | 18.53 | 22.81 | 31.49 | 36.59 | 28.44 | 26.84 | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
Operating profit per share
= (Operating incomeQ3 2024
+ Operating incomeQ2 2024
+ Operating incomeQ1 2024
+ Operating incomeQ4 2023)
÷ No. shares of common stock outstanding
= (2,047,000,000 + 1,909,000,000 + 991,000,000 + 1,271,000,000)
÷ 537,532,723 = 11.57
3 Closing price as at the filing date of Amgen Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 320.16 ÷ 11.57 = 27.68
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Amgen Inc. P/OP ratio increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Price to Sales (P/S)
Amgen Inc., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 537,532,723 | 537,329,220 | 536,434,692 | 535,918,901 | 535,178,027 | 534,901,181 | 534,326,594 | 533,976,238 | 533,579,206 | 534,930,850 | 534,199,933 | 557,029,370 | 563,265,902 | 567,852,353 | 574,553,986 | 577,566,383 | 582,168,612 | 585,693,775 | 588,247,399 | 589,806,819 | 594,183,541 | 599,701,222 | 609,935,682 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Product sales (in millions) | 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) | 5,881) | 5,463) | 5,574) | 5,286) | |||||||
| Sales per share2 | 57.94 | 54.98 | 52.54 | 50.21 | 47.89 | 47.33 | 46.63 | 46.45 | 45.95 | 45.99 | 45.74 | 43.62 | 43.25 | 42.52 | 41.66 | 41.97 | 40.86 | 39.52 | 38.78 | 37.65 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 320.16 | 312.50 | 311.29 | 290.07 | 255.70 | 243.28 | 239.74 | 240.00 | 269.04 | 246.25 | 238.13 | 222.66 | 218.13 | 228.31 | 236.71 | 236.65 | 217.82 | 248.85 | 230.98 | 227.00 | 210.88 | 186.58 | 176.14 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/S ratio4 | 5.53 | 5.68 | 5.93 | 5.78 | 5.34 | 5.14 | 5.14 | 5.17 | 5.85 | 5.35 | 5.21 | 5.10 | 5.04 | 5.37 | 5.68 | 5.64 | 5.33 | 6.30 | 5.96 | 6.03 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 6.38 | 6.02 | 5.32 | 5.72 | 4.52 | 4.74 | 4.60 | 4.61 | 4.44 | 4.28 | 4.76 | 4.53 | 3.73 | 3.80 | 4.07 | 4.05 | 4.10 | 4.59 | 3.64 | 4.22 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 2.38 | 2.20 | 1.99 | 2.19 | 2.40 | 2.81 | 3.10 | 3.29 | 3.39 | 3.39 | 3.41 | 3.16 | 2.85 | 3.44 | 3.28 | 3.16 | 3.66 | 3.97 | 4.45 | 5.52 | — | — | — | |||||||
| Danaher Corp. | 7.95 | 8.10 | 7.90 | 7.76 | 5.63 | 6.77 | 5.76 | 5.79 | 5.66 | 6.59 | 6.68 | 6.37 | 7.91 | 7.72 | 7.27 | 7.01 | 8.15 | 7.48 | 6.34 | 6.29 | — | — | — | |||||||
| Eli Lilly & Co. | 19.67 | 20.64 | 20.66 | 20.77 | 17.18 | 16.78 | 13.38 | 10.96 | 11.46 | 9.99 | 9.47 | 8.01 | 8.62 | 9.16 | 6.88 | 8.06 | 5.41 | 6.26 | 6.36 | 6.03 | — | — | — | |||||||
| Gilead Sciences Inc. | 4.18 | 3.41 | 2.97 | 3.40 | 3.69 | 3.61 | 3.70 | 3.86 | 3.64 | 2.84 | 2.86 | 2.85 | 3.11 | 3.30 | 3.31 | 3.24 | 3.29 | 3.95 | 4.34 | 4.00 | — | — | — | |||||||
| Johnson & Johnson | 4.55 | 4.44 | 4.25 | 4.43 | 4.01 | 4.84 | 4.60 | 4.34 | 4.69 | 4.80 | 5.00 | 4.66 | 4.69 | 5.08 | 5.09 | 5.15 | 4.73 | 4.84 | 4.78 | 4.79 | — | — | — | |||||||
| Merck & Co. Inc. | 4.03 | 4.56 | 5.26 | 5.43 | 4.42 | 4.62 | 5.16 | 4.71 | 4.25 | 3.87 | 4.12 | 3.96 | 4.32 | 4.05 | 4.23 | 3.93 | 4.30 | 4.38 | 4.05 | 4.33 | — | — | — | |||||||
| Moderna Inc. | 3.90 | 7.39 | 9.61 | 5.52 | 3.38 | 4.14 | 3.57 | 2.92 | 2.76 | 3.29 | 2.82 | 3.45 | 10.53 | 27.41 | 33.34 | 309.64 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 2.60 | 3.00 | 2.86 | 2.61 | 2.51 | 2.58 | 2.32 | 2.37 | 2.63 | 2.77 | 3.00 | 3.18 | 4.04 | 4.78 | 4.84 | 4.50 | 4.71 | 4.69 | 4.21 | 3.66 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 6.65 | 8.93 | 7.89 | 7.84 | 6.81 | 6.61 | 6.69 | 7.01 | 5.87 | 4.66 | 4.40 | 4.20 | 5.14 | 5.20 | 5.78 | 6.24 | 7.62 | 8.31 | 8.10 | 5.34 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 5.04 | 5.55 | 5.14 | 4.99 | 4.05 | 4.87 | 4.81 | 4.73 | 4.40 | 5.40 | 5.20 | 5.39 | 6.45 | 5.54 | 5.13 | 5.52 | 6.58 | 6.24 | 5.08 | 4.83 | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
Sales per share
= (Product salesQ3 2024
+ Product salesQ2 2024
+ Product salesQ1 2024
+ Product salesQ4 2023)
÷ No. shares of common stock outstanding
= (8,151,000,000 + 8,041,000,000 + 7,118,000,000 + 7,833,000,000)
÷ 537,532,723 = 57.94
3 Closing price as at the filing date of Amgen Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 320.16 ÷ 57.94 = 5.53
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Amgen Inc. P/S ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Price to Book Value (P/BV)
Amgen Inc., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 537,532,723 | 537,329,220 | 536,434,692 | 535,918,901 | 535,178,027 | 534,901,181 | 534,326,594 | 533,976,238 | 533,579,206 | 534,930,850 | 534,199,933 | 557,029,370 | 563,265,902 | 567,852,353 | 574,553,986 | 577,566,383 | 582,168,612 | 585,693,775 | 588,247,399 | 589,806,819 | 594,183,541 | 599,701,222 | 609,935,682 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | 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) | 9,673) | 10,927) | 10,794) | 10,832) | |||||||
| Book value per share (BVPS)2 | 14.00 | 11.03 | 9.36 | 11.63 | 14.31 | 12.68 | 10.01 | 6.86 | 6.85 | 4.52 | 1.71 | 12.03 | 14.59 | 14.52 | 16.25 | 16.29 | 18.82 | 18.20 | 16.12 | 16.40 | 18.39 | 18.00 | 17.76 | |||||||
| Share price1, 3 | 320.16 | 312.50 | 311.29 | 290.07 | 255.70 | 243.28 | 239.74 | 240.00 | 269.04 | 246.25 | 238.13 | 222.66 | 218.13 | 228.31 | 236.71 | 236.65 | 217.82 | 248.85 | 230.98 | 227.00 | 210.88 | 186.58 | 176.14 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/BV ratio4 | 22.86 | 28.34 | 33.25 | 24.94 | 17.87 | 19.19 | 23.95 | 35.01 | 39.30 | 54.46 | 138.87 | 18.51 | 14.95 | 15.72 | 14.57 | 14.53 | 11.57 | 13.67 | 14.33 | 13.84 | 11.47 | 10.37 | 9.92 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 58.73 | 48.87 | 36.12 | 29.97 | 20.61 | 20.62 | 19.68 | 15.52 | 16.06 | 16.76 | 16.59 | 16.53 | 15.20 | 16.23 | 14.91 | 14.18 | 10.93 | 11.31 | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 6.60 | 6.01 | 5.49 | 3.35 | 3.72 | 3.97 | 4.46 | 4.88 | 4.85 | 4.90 | 5.07 | 4.07 | 3.48 | 4.15 | 3.73 | 3.55 | 2.87 | 2.82 | 2.77 | 2.80 | 5.30 | 4.63 | 4.91 | |||||||
| Danaher Corp. | 3.68 | 3.82 | 3.51 | 3.47 | 2.78 | 3.65 | 3.33 | 3.64 | 3.77 | 4.36 | 4.36 | 4.16 | 5.11 | 4.82 | 4.46 | 3.93 | 4.38 | 3.90 | 3.68 | 3.72 | 3.02 | 3.19 | 2.88 | |||||||
| Eli Lilly & Co. | 56.45 | 59.24 | 57.94 | 65.80 | 49.10 | 44.75 | 33.11 | 29.36 | 33.27 | 34.00 | 29.75 | 25.28 | 30.85 | 38.00 | 25.41 | 35.07 | 26.02 | 35.12 | 47.73 | 51.67 | 31.28 | 39.03 | 46.37 | |||||||
| Gilead Sciences Inc. | 6.36 | 5.15 | 4.61 | 4.01 | 4.50 | 4.63 | 4.72 | 4.90 | 4.63 | 3.82 | 3.91 | 3.65 | 3.94 | 4.41 | 4.40 | 4.33 | 4.30 | 4.79 | 4.40 | 3.93 | 4.02 | 3.58 | 3.83 | |||||||
| Johnson & Johnson | 5.69 | 5.37 | 5.20 | 5.48 | 4.92 | 5.79 | 6.00 | 5.37 | 6.04 | 6.01 | 6.36 | 5.90 | 6.10 | 6.51 | 6.51 | 6.72 | 5.93 | 6.19 | 6.46 | 6.61 | 5.84 | 5.78 | 6.39 | |||||||
| Merck & Co. Inc. | 5.73 | 6.53 | 8.00 | 8.68 | 6.35 | 6.96 | 6.38 | 6.07 | 5.63 | 5.12 | 5.44 | 5.05 | 5.76 | 5.73 | 7.30 | 7.46 | 6.97 | 7.47 | 7.43 | 7.83 | 7.87 | 7.82 | 7.31 | |||||||
| Moderna Inc. | 1.62 | 3.09 | 3.76 | 2.66 | 2.20 | 2.47 | 2.71 | 2.81 | 3.15 | 4.06 | 3.61 | 4.31 | 11.37 | 25.06 | 16.79 | 24.16 | 9.67 | 9.88 | 12.03 | 8.21 | 4.29 | 3.25 | 5.29 | |||||||
| Pfizer Inc. | 1.70 | 1.92 | 1.74 | 1.75 | 1.80 | 2.04 | 2.14 | 2.48 | 2.83 | 3.21 | 3.37 | 3.35 | 3.69 | 3.78 | 3.27 | 2.98 | 3.10 | 3.31 | 3.16 | 3.00 | 3.14 | 3.42 | 3.84 | |||||||
| Regeneron Pharmaceuticals Inc. | 3.14 | 4.27 | 3.83 | 3.96 | 3.58 | 3.49 | 3.52 | 3.77 | 3.75 | 3.21 | 3.65 | 3.60 | 4.04 | 4.26 | 4.44 | 4.81 | 6.21 | 7.34 | 5.33 | 3.79 | 3.48 | 3.38 | 3.74 | |||||||
| Thermo Fisher Scientific Inc. | 4.36 | 4.96 | 4.80 | 4.57 | 3.88 | 4.84 | 4.99 | 4.83 | 4.46 | 5.47 | 5.23 | 5.18 | 6.51 | 5.75 | 5.25 | 5.15 | 5.89 | 5.48 | 4.56 | 4.16 | 4.15 | 3.83 | 4.02 | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 7,527,000,000 ÷ 537,532,723 = 14.00
3 Closing price as at the filing date of Amgen Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 320.16 ÷ 14.00 = 22.86
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Amgen Inc. P/BV ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |