Amgen Inc. (AMGN) Income Statement
AMGN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAMGN revenue and net income
Where AMGN's revenue goes
2025Each bar shows an amount and its share of revenue. AMGN kept 21.0% of revenue as net income.
AMGN profit margins
AMGN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.9% | +11.8% | +7.6% | +5.4% |
| Gross profit | +26.5% | +9.3% | +6.2% | +4.1% |
| Operating income | +47.1% | +3.7% | +3.2% | +2.3% |
| Net income | +88.5% | +5.6% | +1.2% | +1.1% |
| EPS (diluted) | +10.2% | +7.3% | +5.6% | +7.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AMGN quarterly EPS vs estimates
Amgen beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 3, 2026 (estimate $5.72).
AMGN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.74B | $33.42B | $28.19B | $26.32B | $25.98B | $25.42B | $23.36B | $23.75B | $22.85B | $22.99B |
| Cost of revenue | $10.73B | $12.86B | $8.45B | $6.41B | $6.45B | $6.16B | $4.36B | $4.10B | $4.07B | $4.16B |
| Gross profit | $26.01B | $20.57B | $19.74B | $19.92B | $19.52B | $19.27B | $19.01B | $19.65B | $18.78B | $18.83B |
| Research & development | $6.97B | $5.96B | $4.78B | $4.43B | $6.32B | $4.21B | $4.12B | $3.74B | $3.56B | $3.84B |
| Sales, general & admin | $7.05B | $7.10B | $6.12B | $5.41B | $5.37B | $5.73B | $5.15B | $5.33B | $4.87B | $5.12B |
| Total operating expenses | $15.34B | $13.31B | $11.84B | $10.35B | $11.89B | $10.13B | $9.33B | $9.38B | $8.81B | $9.04B |
| Operating income | $10.68B | $7.26B | $7.90B | $9.57B | $7.64B | $9.14B | $9.67B | $10.26B | $9.97B | $9.79B |
| Interest income | — | — | — | — | — | $256.0M | $753.0M | $674.0M | $928.0M | $629.0M |
| Interest expense | $2.75B | $3.15B | $2.88B | $1.41B | $1.20B | $1.26B | $1.29B | $1.39B | $1.30B | $1.26B |
| Income before taxes | $8.98B | $4.61B | $7.86B | $7.35B | $6.70B | $8.13B | $9.14B | $9.54B | $9.60B | $9.16B |
| Income taxes | $1.26B | $519.0M | $1.14B | $794.0M | $808.0M | $869.0M | $1.30B | $1.15B | $7.62B | $1.44B |
| Net income | $7.71B | $4.09B | $6.72B | $6.55B | $5.89B | $7.26B | $7.84B | $8.39B | $1.98B | $7.72B |
| EBITDA | $16.90B | $13.36B | $7.90B | $12.17B | $11.30B | $13.00B | $12.63B | $12.88B | $12.86B | $12.53B |
| EPS (diluted) | $21.85 | $19.82 | $18.65 | $17.69 | $17.11 | $16.60 | $14.83 | $14.41 | $12.58 | $11.65 |
| Gross margin | 70.8% | 61.5% | 70.0% | 75.7% | 75.2% | 75.8% | 81.4% | 82.7% | 82.2% | 81.9% |
| Operating margin | 29.1% | 21.7% | 28.0% | 36.3% | 29.4% | 35.9% | 41.4% | 43.2% | 43.6% | 42.6% |
| Net margin | 21.0% | 12.2% | 23.8% | 24.9% | 22.7% | 28.6% | 33.6% | 35.3% | 8.7% | 33.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.05B | $8.62B | $9.90B | $9.56B | $9.17B | $8.15B | $9.09B | $8.50B | $8.39B | $7.45B | $8.20B | $6.90B |
| Cost of revenue | $2.81B | $2.74B | $1.79B | $3.08B | $3.01B | $2.97B | $3.11B | $3.31B | $3.24B | $3.20B | $3.11B | $1.81B |
| Gross profit | $7.24B | $5.87B | $8.11B | $6.47B | $6.16B | $5.18B | $5.97B | $5.19B | $5.15B | $4.25B | $5.08B | $5.10B |
| Research & development | $1.87B | $1.72B | $2.15B | $1.90B | $1.74B | $1.49B | $1.72B | $1.45B | $1.45B | $1.34B | $1.53B | $1.08B |
| Sales, general & admin | $1.75B | $1.60B | $1.95B | $1.72B | $1.69B | $1.69B | $1.88B | $1.62B | $1.78B | $1.81B | $2.27B | $1.35B |
| Total operating expenses | $3.73B | $3.21B | $4.16B | $3.95B | $3.51B | $4.00B | $3.66B | $3.15B | $3.24B | $3.26B | $3.81B | $3.08B |
| Operating income | $3.51B | $2.67B | $3.94B | $2.53B | $2.64B | $1.18B | $2.31B | $2.05B | $1.91B | $991.0M | $1.27B | $2.02B |
| Interest expense | $673.0M | $657.0M | $653.0M | $685.0M | $708.0M | $723.0M | $747.0M | $776.0M | $808.0M | $824.0M | $821.0M | $759.0M |
| Income before taxes | $2.77B | $2.08B | $1.51B | $3.92B | $1.57B | $1.97B | $782.0M | $3.10B | $794.0M | −$68.0M | $852.0M | $1.95B |
| Income taxes | $393.0M | $265.0M | $181.0M | $705.0M | $136.0M | $243.0M | $155.0M | $271.0M | $48.0M | $45.0M | $85.0M | $217.0M |
| Net income | $2.38B | $1.82B | $1.33B | $3.22B | $1.43B | $1.73B | $627.0M | $2.83B | $746.0M | −$113.0M | $767.0M | $1.73B |
| EBITDA | $4.55B | $3.86B | $3.30B | $5.91B | $3.62B | $4.08B | $2.93B | $5.27B | $3.00B | $2.15B | $3.05B | $3.60B |
| EPS (diluted) | $6.29 | $5.15 | $5.29 | $5.64 | $6.02 | $4.90 | $5.31 | $5.58 | $4.97 | $3.96 | $4.71 | $4.96 |
| Gross margin | 72.0% | 68.2% | 81.9% | 67.8% | 67.2% | 63.6% | 65.7% | 61.1% | 61.4% | 57.0% | 62.0% | 73.8% |
| Operating margin | 35.0% | 30.9% | 39.8% | 26.4% | 28.8% | 14.5% | 25.4% | 24.1% | 22.8% | 13.3% | 15.5% | 29.3% |
| Net margin | 23.6% | 21.1% | 13.5% | 33.7% | 15.6% | 21.2% | 6.9% | 33.3% | 8.9% | −1.5% | 9.4% | 25.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AMGN's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AMGN financial results
In fiscal year 2025 (ended December 31, 2025), Amgen reported revenue of $36.7 billion, up 9.9% from the year before. It had net income of $7.7 billion (up 88.5%), a net profit margin of 21.0%. Diluted earnings per share came to $21.85. Over five years revenue grew at an average rate of 7.6% a year.
See the AMGN stock overview for the latest quote and news, or the AMGN chart for price history and technical indicators.
AMGN income statement FAQ
What is Amgen's annual revenue?
Amgen reported total revenue of $36.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.9% from $33.4 billion the previous year.
Is Amgen profitable?
Yes. Amgen reported net income of $7.7 billion in fiscal 2025, a net profit margin of 21.0%; its operating margin was 29.1%.
What is Amgen's gross margin?
Amgen's gross margin was 70.8% in fiscal 2025: for every $100 of revenue, Amgen kept $71 after the direct cost of its products and services.
How much does Amgen spend on research and development?
Amgen spent $7.0 billion on research and development in fiscal 2025, 19.0% of revenue.
How fast is Amgen growing?
Revenue grew 7.6% a year on average over the last five fiscal years, from $25.4 billion to $36.7 billion.
What are Amgen's earnings per share?
Amgen earned $21.85 per diluted share in fiscal 2025, compared with $19.82 a year earlier.
When will Amgen report its next earnings?
Amgen is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Amgen's fiscal year end?
Amgen's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.