Last 48 quarters of trend data · Healthcare · Drug Manufacturers - General
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Amgen Inc.'s quarterly P/E stands at 33.4x, down 40.5% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 16.6% YoY to 10.7x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 27.28 | 33.40 | 11.90 | 26.34 | 24.34 | 56.17 | 15.43 | 56.60 | — | 50.71 | 20.87 | 21.60 | 11.45 |
| — | -40.5% | -22.9% | -53.5% | — | +10.8% | -26.0% | +162.1% | — | +131.7% | +47.4% | -13.0% | -49.3% | |
| P/S Ratio | 5.69 | 4.50 | 4.00 | 4.12 | 5.17 | 3.89 | 5.13 | 5.04 | 5.12 | 4.74 | 5.24 | 4.27 | 5.33 |
| — | +15.9% | -22.1% | -18.2% | +1.1% | -18.1% | -1.9% | +18.1% | -3.9% | -8.3% | +14.9% | -13.9% | -0.3% | |
| P/B Ratio | 24.30 | 20.53 | 15.90 | 20.34 | 27.15 | 24.04 | 23.20 | 28.53 | 30.35 | 24.96 | 18.89 | 17.58 | 24.32 |
| — | -14.6% | -31.5% | -28.7% | -10.5% | -3.7% | +22.8% | +62.3% | +24.8% | -35.5% | -43.1% | -67.4% | -83.3% | |
| P/FCF | 25.83 | 46.24 | 9.00 | 19.76 | 43.00 | 8.03 | 13.17 | 19.03 | 83.00 | 134.54 | 14.39 | 7.77 | 45.16 |
| — | +476.0% | -31.7% | +3.9% | -48.2% | -94.0% | -8.4% | +145.0% | +83.8% | +777.8% | +33.8% | -60.0% | +167.6% | |
| EV / EBITDA | 12.56 | 10.66 | 12.92 | 12.50 | 21.16 | 12.77 | 16.41 | 16.80 | 21.62 | 19.73 | 14.60 | 10.23 | 14.19 |
| — | -16.6% | -21.3% | -25.6% | -2.1% | -35.3% | +12.4% | +64.2% | +52.4% | +43.4% | +35.7% | -24.1% | +15.9% | |
| EV / EBIT | 17.10 | 25.68 | 10.75 | 21.88 | 20.13 | 30.97 | 14.57 | 34.70 | 68.36 | 31.26 | 15.74 | 15.48 | 10.04 |
| — | -17.1% | -26.2% | -36.9% | -70.5% | -0.9% | -7.4% | +124.2% | +580.6% | +56.5% | +15.5% | -28.9% | -51.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Amgen Inc.'s operating margin was 39.8% in Q4 2025, up 13.4 pp QoQ and up 14.4 pp YoY. The trailing four-quarter average of 27.4% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 24.5% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.5% | 81.9% | 67.8% | 67.2% | 63.6% | 65.7% | 61.1% | 61.4% | 57.0% | 62.0% | 73.8% | 74.0% | 71.8% |
| — | +24.5% | +10.9% | +9.3% | +11.5% | +6.0% | -17.3% | -17.1% | -20.6% | -16.7% | -3.0% | -4.0% | -4.2% | |
| Operating Margin | 40.5% | 39.8% | 26.4% | 28.8% | 14.5% | 25.4% | 24.1% | 22.8% | 13.3% | 15.5% | 29.3% | 38.4% | 31.5% |
| — | +56.6% | +9.8% | +26.7% | +8.6% | +64.0% | -17.8% | -40.8% | -57.7% | -52.4% | -26.8% | +16.4% | -21.5% | |
| Net Margin | 21.0% | 13.5% | 33.7% | 15.6% | 21.2% | 6.9% | 33.3% | 8.9% | -1.5% | 9.4% | 25.1% | 19.7% | 46.5% |
| — | +95.8% | +1.1% | +75.6% | +1499.1% | -26.3% | +32.8% | -54.9% | -103.3% | -60.4% | -22.2% | -1.2% | +96.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 106.1% | 14.6% | 37.7% | 21.0% | 28.6% | 9.4% | 42.1% | 13.6% | -2.0% | 11.0% | 24.0% | 22.7% | 63.1% |
| — | +55.9% | -10.3% | +54.1% | +1525.8% | -15.3% | +75.6% | -40.1% | -103.2% | -75.0% | -66.0% | -71.2% | +62.7% | |
| ROA | 8.5% | 1.5% | 3.6% | 1.6% | 1.9% | 0.7% | 3.1% | 0.8% | -0.1% | 0.8% | 1.9% | 1.5% | 3.7% |
| — | +114.9% | +16.0% | +99.1% | +1705.9% | -16.0% | +62.7% | -47.3% | -103.2% | -67.4% | -45.1% | -30.7% | +50.6% | |
| ROIC | 20.7% | 5.4% | 3.4% | 3.6% | 1.6% | 3.1% | 2.6% | 2.4% | 1.2% | 2.0% | 4.5% | 5.8% | 4.1% |
| — | +76.3% | +32.1% | +48.8% | +30.3% | +50.2% | -42.2% | -58.3% | -69.6% | -58.6% | -25.0% | +15.4% | -30.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Amgen Inc.'s Debt/EBITDA ratio is 10.4x, down from 14.2x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 9.3% YoY to 1.14x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.31 | 6.31 | 5.67 | 7.57 | 9.24 | 10.23 | 8.02 | 10.57 | 12.75 | 10.37 | 7.90 | 9.08 | 11.52 |
| — | -38.3% | -29.3% | -28.4% | -27.5% | -1.4% | +1.6% | +16.5% | +10.7% | -2.5% | -25.5% | -39.9% | -71.4% | |
| Debt / EBITDA | 2.69 | 10.43 | 14.24 | 14.10 | 22.37 | 16.21 | 17.54 | 18.93 | 26.79 | 24.37 | 20.74 | 17.19 | 21.83 |
| — | -35.7% | -18.8% | -25.5% | -16.5% | -33.5% | -15.4% | +10.1% | +22.7% | +96.6% | +87.4% | +41.4% | +97.9% | |
| Current Ratio | 1.14 | 1.14 | 1.28 | 1.31 | 1.17 | 1.26 | 1.32 | 1.26 | 1.42 | 1.65 | 2.86 | 2.77 | 3.14 |
| — | -9.3% | -2.9% | +3.3% | -17.7% | -23.8% | -53.9% | -54.4% | -54.8% | +16.6% | +70.3% | +81.0% | +118.8% | |
| Quick Ratio | 0.90 | 0.90 | 0.99 | 0.98 | 0.88 | 0.95 | 0.96 | 0.89 | 0.98 | 1.13 | 2.56 | 2.48 | 2.79 |
| — | -6.1% | +3.5% | +10.2% | -10.3% | -15.7% | -62.7% | -64.0% | -64.9% | +2.9% | +90.3% | +111.9% | +155.0% | |
| Interest Coverage | 5.41 | 6.02 | 3.69 | 3.73 | 1.63 | 3.09 | 2.64 | 2.36 | 1.20 | 1.55 | 2.66 | 3.57 | 3.54 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonAmgen Inc.'s current P/E is 27.3x. The average P/E over the last 4 quarters is 24.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Amgen Inc.'s current operating margin is 40.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Amgen Inc.'s business trajectory between earnings reports.