Amgen Inc. Financial Ratios — AMGN Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	17.27	23.01	24.68	21.47	25.53	26.22	7.03	42.84	66.83	70.54	65.88	115.07	129.01	65.63	103.79
Return on Assets (%)	7.98	8.42	8.44	7.63	9.88	10.36	2.51	11.47	12.44	11.84	9.5	10.38	8.28	4.33	8.45
Return on Capital (%)	10.91	12.27	12.16	11.09	13.55	14.06	3.56	17.74	20.5	20.1	16.5	18.67	16.1	10.05	15.56
Return on Invested Capital (%)	9.84	11.24	11.35	10.33	12.7	13.31	3.29	16.87	19.18	19.58	16.01	20.19	11.61	9.13	11.8
Gross Margin (%)	82.62	81.47	82.08	77.96	80.49	81.9	82.19	82.73	81.35	75.77	75.16	75.66	70.02	61.53	67.25
EBITDA Margin (%)	34.48	38.6	38.3	41.28	48.83	51.76	52.2	51.41	50.85	50.11	42.48	49.32	42.45	38.45	38.77
Operating Margin (%)	27.67	32.3	31.41	30.86	39.1	42.6	43.65	43.22	41.41	35.95	29.4	36.34	28.01	21.71	24.71
Incremental Operating Margin (%)	-233.08	75.16	20.55	23.36	142.53	99.62	-126.06	32.29	152.99	-25.95	-270.27	560.17	-89.39	-12.21	54.76
Pretax Margin (%)	26.63	29.01	28.19	27.84	36.83	39.85	42	40.19	39.11	31.99	25.79	27.91	27.86	13.79	24.42
Profit Margin (%)	23.64	25.17	27.21	25.71	32.03	33.59	8.66	35.35	33.57	28.57	22.68	24.89	23.83	12.24	20.98
Net Income to Common Margin (%)	23.64	25.17	27.21	25.71	32.03	33.59	8.66	35.35	33.57	28.57	22.68	24.89	23.83	12.24	20.98
Effective Tax Rate (%)	11.25	13.26	3.49	7.65	13.02	15.73	79.38	12.06	14.18	10.68	12.06	10.81	14.49	11.26	14.09
Dvd Payout Ratio (%)	13.58	25.73	27.85	35.89	34.53	38.82	170.04	41.78	44.75	51.69	68.1	64.04	67.83	118.14	66.45
Sustainable Growth Rate (%)	14.93	17.09	17.81	13.77	16.72	16.04	-4.93	24.94	36.92	34.08	21.02	41.38	41.51	-11.91	34.82

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	21,428	26,529	32,128	30,715	31,429	34,596	35,342	33,929	29,903	32,986	33,309	38,945	64,613	60,099	54,604
ST Debt	84	2,495	2,505	500	2,247	4,403	1,152	4,419	2,953	91	87	1,591	1,443	3,550	4,599
LT Debt	21,344	24,034	29,623	30,215	29,182	30,193	34,190	29,510	26,950	32,895	33,222	37,354	63,170	56,549	50,005
Total Debt/EBITDA	3.99	3.98	4.49	3.71	2.97	2.91	2.96	2.78	2.52	2.59	3.02	3	5.4	4.68	3.83
Net Debt/EBITDA	2.7	3.49	3.96	3.26	2.58	2.64	2.64	2.21	2.01	2.1	2.29	2.41	4.48	3.75	3.19
Total Debt/EBIT	4.97	4.76	5.48	4.96	3.71	3.53	3.54	3.31	3.09	3.61	4.36	4.07	8.18	8.28	6.01
Net Debt/EBIT	3.36	4.17	4.83	4.36	3.22	3.2	3.16	2.63	2.47	2.92	3.31	3.27	6.8	6.63	5.01
EBITDA to Interest Expense	8.81	6.33	7	7.73	9.66	9.44	9.15	8.77	9.22	10.1	9.22	9.23	4.16	4.07	5.17
EBITDA-CapEx/Interest Expense	7.88	5.65	6.32	6.8	9.07	8.78	8.64	8.24	8.74	9.61	8.49	8.57	3.78	3.73	4.5
EBIT to Interest Expense	7.07	5.3	5.74	5.78	7.74	7.77	7.65	7.37	7.51	7.24	6.38	6.8	2.75	2.3	3.3
Interest Expense	610	1,053	1,022	1,071	1,095	1,260	1,304	1,392	1,289	1,262	1,197	1,406	2,875	3,155	2,755
Common Equity/Total Assets	38.59	34.83	33.66	37.37	39.98	39.09	32.42	19.98	17.09	16.51	12.26	5.98	6.71	6.47	9.84
Long-Term Debt/Equity (%)	112.17	126.1	134.06	117.21	103.91	101.06	135.45	236.08	278.61	349.61	495.85	1,020.32	1,013.64	962.21	577.56
Long-Term Debt/Capital (%)	52.98	52.89	54.47	53.48	48.64	46.49	55.81	62.52	67.2	75.83	81.42	87.2	88.8	85.63	78.72
Long-Term Debt/Total Assets (%)	43.67	44.26	44.8	43.78	40.84	38.9	42.76	44.43	45.14	52.26	54.32	57.36	65.02	61.57	55.2
Total Debt/Equity (%)	112.61	139.19	145.4	119.15	111.91	115.8	140.02	271.43	309.14	350.58	497.15	1,063.78	1,036.79	1,022.61	630.68
Total Debt/Capital (%)	53.19	58.38	59.08	54.36	52.39	53.27	57.69	71.89	74.56	76.04	81.63	90.91	90.83	91	85.96
Total Debt/Total Assets (%)	43.85	48.86	48.59	44.51	43.99	44.57	44.2	51.09	50.08	52.4	54.46	59.8	66.51	65.44	60.28
Net Debt to Equity	76.1	122.1	128.18	104.68	97.16	104.95	124.96	215.87	246.73	283.98	377.91	855.39	861.18	818.89	525.24
Net Debt/Capital (%)	43.44	55.17	56	51.14	48.86	50.82	54.89	67.04	70.06	71.99	77.16	88.95	89.17	89.01	83.61
EBITDA	5,372	6,665	7,153	8,283	10,578	11,899	11,928	12,209	11,880	12,740	11,037	12,983	11,968	12,850	14,247
EBITDA-CapEx	4,805	5,951	6,460	7,280	9,929	11,062	11,264	11,471	11,262	12,132	10,157	12,047	10,856	11,754	12,389
Operating Income (Loss)	4,312	5,577	5,867	6,191	8,470	9,794	9,973	10,263	9,674	9,139	7,639	9,566	7,897	7,258	9,080

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	3.59	2.94	2.44	3.86	3.62	3.4	4.62	2.17	0.69	0.91	0.66	0.59	0.6	0.52	0.36
Current Ratio	4.8	3.81	3.44	4.95	4.45	4.11	5.49	2.79	1.44	1.81	1.59	1.41	1.65	1.26	1.14
Quick Ratio	4.09	3.24	2.78	4.22	3.97	3.68	4.98	2.44	1.01	1.3	1.14	1	1.03	0.81	0.73
CFO/Avg Current Liab	0.83	0.84	0.78	1.2	1.24	1.04	1.11	1	0.7	0.86	0.78	0.7	0.5	0.55	0.41
Common Equity/Total Assets	38.59	34.83	33.66	37.37	39.98	39.09	32.42	19.98	17.09	16.51	12.26	5.98	6.71	6.47	9.84
Long-Term Debt/Equity (%)	112.17	126.1	134.06	117.21	103.91	101.06	135.45	236.08	278.61	349.61	495.85	1,020.32	1,013.64	962.21	577.56
Long-Term Debt/Capital (%)	52.98	52.89	54.47	53.48	48.64	46.49	55.81	62.52	67.2	75.83	81.42	87.2	88.8	85.63	78.72
Long-Term Debt/Total Assets (%)	43.67	44.26	44.8	43.78	40.84	38.9	42.76	44.43	45.14	52.26	54.32	57.36	65.02	61.57	55.2
Total Debt/Equity (%)	112.61	139.19	145.4	119.15	111.91	115.8	140.02	271.43	309.14	350.58	497.15	1,063.78	1,036.79	1,022.61	630.68
Total Debt/Capital (%)	53.19	58.38	59.08	54.36	52.39	53.27	57.69	71.89	74.56	76.04	81.63	90.91	90.83	91	85.96
Total Debt/Total Assets (%)	43.85	48.86	48.59	44.51	43.99	44.57	44.2	51.09	50.08	52.4	54.46	59.8	66.51	65.44	60.28
CFO/Total Liabilities	17.15	16.69	14.29	20.71	22.44	21.68	20.43	20.95	18.29	19.61	17	15.82	9.32	13.37	12.15
CFO/CapEx	9.03	8.24	9.08	8.93	14.99	12.37	16.83	15.31	14.81	17.26	10.52	10.39	7.62	10.48	5.36
Altman's Z-Score	2.43	2.43	2.51	3.3	3.54	3.21	3.11	2.82	3.01	2.68	2.23	2.14	1.7	1.55	2.01

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	5.96	6.38	7.16	7.65	7.82	7.46	7.14	6.97	6.12	5.92	5.52	5.03	4.39	4.76	4.49
Days Sales Outstanding	61.27	57.23	50.96	47.69	46.68	48.9	51.13	52.39	59.66	61.6	66.17	72.51	83.07	76.72	81.2
Inventory Turnover	1.2	1.22	1.16	1.56	1.66	1.61	1.46	1.42	1.34	1.65	1.62	1.42	1.17	1.56	1.82
Days Inventory Outstanding	303.67	298.25	314.33	233.84	219.41	227.14	250.23	256.95	273.33	221.55	225.62	256.86	312.01	234.42	200.48
Accounts Payable Turnover	4.67	4.47	4.28	4.55	4.1	4.75	3.67	3.29	3.88	4.63	4.77	4.94	8.25	5.91	5.27
Accounts Payable Turnover Days	78.18	81.62	85.28	80.3	89.09	76.8	99.59	111.01	94.1	78.78	76.52	73.96	44.26	61.75	69.26
Cash Conversion Cycle	286.76	273.86	280.01	201.23	177.01	199.23	201.77	198.33	238.89	204.38	215.28	255.41	350.82	249.38	212.42
Inventory to Cash Days	-242.41	-241.02	-263.37	-186.15	-172.73	-178.24	-199.09	-204.56	-213.67	-159.95	-159.45	-184.35	-228.94	-157.7	-119.28
Inventories	2,484	2,744	3,019	2,647	2,435	2,745	2,834	2,940	3,584	3,893	4,086	4,930	9,518	6,998	6,225
Raw Materials	158	192	217	198	201	225	232	257	358	486	647	828	993	818	915
Work In Process	1,802	1,723	2,064	1,551	1,529	1,608	1,668	1,660	2,227	2,437	2,367	3,098	5,747	4,120	3,425
Finished Goods	524	829	738	898	705	912	934	1,023	999	970	1,072	1,004	2,778	2,060	1,885
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	58,110	66,805	85,902	120,901	123,046	109,365	127,121	128,677	145,847	134,733	128,233	141,300	154,091	139,964	176,093
- Cash & Cash Equivalents	6,946	3,257	3,805	3,731	4,144	3,241	3,800	6,945	6,037	6,266	7,989	7,629	10,944	11,973	9,129
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	21,428	26,529	32,128	30,715	31,429	34,596	35,342	33,929	29,903	32,986	33,309	38,945	64,613	60,099	54,604
Enterprise Value	58,897	69,273	98,629	124,590	123,093	105,876	120,785	133,302	166,839	157,072	153,505	170,940	207,760	188,090	221,568
Total Capital	40,286	45,443	54,385	56,501	59,992	64,942	61,262	47,198	40,104	43,380	40,805	42,837	71,134	66,042	63,520
Total Debt/Capital (%)	53.19	58.38	59.08	54.36	52.39	53.27	57.69	71.89	74.56	76.04	81.63	90.91	90.83	91	85.96
Total Debt / EV	0.36	0.38	0.33	0.25	0.26	0.33	0.29	0.25	0.18	0.21	0.22	0.23	0.31	0.32	0.25
EV/Sales	3.78	4.01	5.28	6.21	5.68	4.61	5.29	5.61	7.14	6.18	5.91	6.49	7.37	5.63	6.03
EV/EBITDA	10.96	10.39	13.79	15.04	11.64	8.9	10.13	10.92	14.04	12.33	13.91	13.17	17.36	14.64	15.55
EV/EBIT	13.66	12.42	16.81	20.12	14.53	10.81	12.11	12.99	17.25	17.19	20.09	17.87	26.31	25.91	24.4
EV/Cash Flow to Firm	10.41	10.19	13.55	12.53	11.52	9.27	10.55	10.65	16.27	13.51	14.88	15.58	19.01	13.16	17.98
EV/Free Cash Flow to Firm	9.46	9.22	12.37	11.38	10.86	8.64	9.97	10.05	15.34	12.84	13.71	14.35	17.25	12.22	15.62
Diluted Market Cap	58,560	67,839	87,271	122,653	124,345	110,242	127,816	129,456	146,812	135,653	128,908	142,088	154,955	141,006	177,402
Diluted Enterprise Value	73,042	91,111	115,594	149,637	151,630	141,597	159,358	156,440	170,678	162,373	154,228	173,404	208,624	189,132	222,877
EV per Share	65.08	89.38	130.98	164.15	162.39	141.55	165.23	201.67	275.77	268.04	269.31	317.73	388.34	350.26	411.84
TTM Sales	15,582	17,265	18,676	20,063	21,662	22,991	22,849	23,747	23,362	25,424	25,979	26,323	28,190	33,424	36,751
TTM EBITDA	5,372	6,665	7,153	8,283	10,578	11,899	11,928	12,209	11,880	12,740	11,037	12,983	11,968	12,850	14,247
TTM Operating Income	4,312	5,577	5,867	6,191	8,470	9,794	9,973	10,263	9,674	9,139	7,639	9,566	7,897	7,258	9,080
TTM Cash Flow to Firm	5,660	6,795	7,277	9,941	10,683	11,416	11,446	12,520	10,256	11,624	10,314	10,975	10,929	14,290	12,325
TTM Free Cash Flow to Firm	6,227	7,509	7,970	10,944	11,332	12,253	12,110	13,258	10,874	12,232	11,194	11,911	12,041	15,386	14,183

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	10.3	10.28	12.5	12.32	11.98	9.85	10.79	10.76	15.03	12.22	12.71	13.33	16.17	11.2	15.01
EV/EBIT	13.66	12.42	16.81	20.12	14.53	10.81	12.11	12.99	17.25	17.19	20.09	17.87	26.31	25.91	24.4
Enterprise Value	58,897	69,273	98,629	124,590	123,093	105,876	120,785	133,302	166,839	157,072	153,505	170,940	207,760	188,090	221,568
Low Price	47.66	63.3	81.56	108.2	130.09	133.64	147.12	163.31	166.3	177.05	198.64	214.39	211.71	253.3	257.05
EV/Sales	3.78	4.01	5.28	6.21	5.68	4.61	5.29	5.61	7.14	6.18	5.91	6.49	7.37	5.63	6.03
EV/EBITDA	10.96	10.39	13.79	15.04	11.64	8.9	10.13	10.92	14.04	12.33	13.91	13.17	17.36	14.64	15.55
Price/Earnings	15.78	15.38	16.91	23.44	17.73	14.16	64.23	15.33	18.6	18.55	21.76	21.57	22.94	34.22	22.84
Price/Earnings Average	13.77	13.62	15.4	19.28	17.27	15.11	63.08	14.82	15.1	18.66	22.37	20.23	19.91	39.74	20.69
Price/Earnings High	15.97	16.2	17.74	25.48	19.86	17.13	70.59	16.55	18.9	21.38	26.76	24.36	23.02	45.54	24.17
Price/Earnings Low	11.71	11.29	12.09	15.92	14.21	12.95	54.34	12.86	12.83	14.28	19.21	17.6	16.86	33.26	17.93
Price/Book Value	3.08	3.53	3.86	4.69	4.31	3.6	4.9	9.7	14.3	12.96	17.11	36.31	23.63	23.55	19.75
Price/Book Value Average	2.69	3.13	3.52	3.86	4.2	3.85	4.82	9.37	11.61	13.04	17.59	34.06	20.51	27.35	17.9
Price/Book Value High	3.12	3.72	4.05	5.1	4.82	4.36	5.39	10.47	14.53	14.94	21.04	41.01	23.71	31.34	20.9
Price/Book Value Low	2.29	2.59	2.76	3.18	3.45	3.29	4.15	8.14	9.86	9.98	15.1	29.64	17.37	22.89	15.51
Price/Tangible Book Value	12.38	27.49	-14	-70.99	74.35	22.57	67.94	-13.35	-5.97	-6.16	-5.49	-5.06	-3.42	-3.46	-5.45
Price/Tangible Book Value Average	10.8	24.36	-12.76	-58.4	72.42	24.09	66.72	-12.9	-4.84	-6.2	-5.64	-4.74	-2.97	-4.02	-4.94
Price/Tangible Book Value High	12.53	28.96	-14.69	-77.17	83.27	27.3	74.66	-14.41	-6.06	-7.1	-6.75	-5.71	-3.43	-4.6	-5.77
Price/Tangible Book Value Low	9.19	20.19	-10.01	-48.22	59.58	20.63	57.48	-11.2	-4.12	-4.74	-4.84	-4.13	-2.51	-3.36	-4.28
Price/Sales	3.73	3.87	4.6	6.03	5.68	4.76	5.56	5.42	6.24	5.3	4.94	5.37	5.47	4.19	4.79
Price/Sales Average	3.25	3.43	4.19	4.96	5.53	5.08	5.46	5.24	5.07	5.33	5.08	5.04	4.74	4.86	4.34
Price/Sales High	3.78	4.08	4.83	6.55	6.36	5.75	6.11	5.85	6.34	6.11	6.07	6.06	5.49	5.57	5.07
Price/Sales Low	2.77	2.84	3.29	4.09	4.55	4.35	4.71	4.55	4.31	4.08	4.36	4.38	4.02	4.07	3.76
Price/Cash Flow	11.35	11.36	13.65	13.51	12.64	10.56	11.37	11.39	15.94	12.84	13.85	14.54	18.19	12.18	17.68
Price/Cash Flow Average	9.91	10.06	12.44	11.11	12.32	11.27	11.17	11.01	12.94	12.91	14.24	13.64	15.79	14.15	16.02
Price/Cash Flow High	11.49	11.96	14.33	14.68	14.16	12.78	12.5	12.3	16.2	14.79	17.03	16.42	18.25	16.21	18.71
Price/Cash Flow Low	8.43	8.34	9.76	9.17	10.13	9.65	9.62	9.56	11	9.88	12.23	11.87	13.37	11.84	13.89
Price/Free Cash Flow Average	8.99	9.11	11.38	10.13	11.67	10.51	10.6	10.4	12.2	12.29	13.07	12.51	14.03	13.01	13.6
Price/Free Cash Flow High	10.43	10.83	13.11	13.39	13.42	11.92	11.86	11.62	15.27	14.08	15.63	15.06	16.23	14.91	15.89
Price/Free Cash Flow Low	7.64	7.55	8.93	8.37	9.6	9	9.13	9.02	10.37	9.41	11.22	10.88	11.89	10.89	11.79
EV/Sales Average	4.18	4.78	5.71	6.3	6.79	6.44	6.84	6.37	6.09	6.38	6.05	6.23	6.65	6.3	5.58
EV/Sales High	4.7	5.42	6.34	7.89	7.62	7.12	7.49	6.99	7.37	7.16	7.05	7.25	7.39	7.01	6.31
EV/Sales Low	3.7	4.19	4.8	5.44	5.81	5.71	6.09	5.68	5.33	5.13	5.33	5.57	5.92	5.51	5
EV/EBITDA Average	12.14	12.37	14.9	15.26	13.91	12.44	13.11	12.4	11.98	12.74	14.24	12.62	15.66	16.4	14.39
EV/EBITDA High	13.65	14.05	16.56	19.12	15.61	13.75	14.36	13.59	14.49	14.29	16.58	14.71	17.41	18.24	16.27
EV/EBITDA Low	10.72	10.85	12.55	13.17	11.9	11.04	11.66	11.05	10.48	10.24	12.55	11.3	13.95	14.33	12.9
EV/EBIT Average	15.12	14.79	18.17	20.42	17.37	15.12	15.68	14.75	14.71	17.76	20.57	17.13	23.73	29.03	22.58
EV/EBIT High	17	16.79	20.19	25.59	19.49	16.71	17.17	16.17	17.79	19.91	23.96	19.96	26.38	32.29	25.53
EV/EBIT Low	13.36	12.97	15.3	17.62	14.86	13.41	13.95	13.15	12.87	14.28	18.14	15.33	21.14	25.37	20.24
Last Price	64.21	86.2	114.08	159.29	162.33	146.21	173.9	194.67	241.07	229.92	224.97	262.64	288.02	260.64	327.31
High Price	65	90.81	119.7	173.14	181.81	176.85	191.1	210.19	244.99	264.97	276.69	296.67	289.04	346.85	346.38
Enterprise Value Average	65,197	82,456	106,583	126,435	147,143	148,058	156,368	151,349	142,277	162,281	157,170	163,865	187,405	210,676	205,033
Enterprise Value High	73,307	93,650	118,457	158,397	165,097	163,639	171,236	165,920	172,085	181,992	183,033	190,924	208,305	234,384	231,827
Enterprise Value Low	57,614	72,330	89,738	109,108	125,893	131,318	139,087	134,932	124,478	130,471	138,545	146,658	166,934	184,148	183,768

Shares Outstanding	796	756	755	760	754	738	722	630	591	578	558	534	535	537	539
Diluted Weighted Avg Shares	912	787	765	770	766	754	735	665	609	590	573	541	538	541	542
Basic Weighted Avg Shares	905	775	753	759	758	748	731	661	605	586	570	538	535	537	538
Revenue per Share	17.22	22.28	24.8	26.43	28.58	30.74	31.26	35.93	38.61	43.39	45.58	48.93	52.69	62.24	68.31
EBITDA per Share	5.94	8.6	9.5	10.91	13.96	15.91	16.32	18.47	19.64	21.74	19.36	24.13	22.37	23.93	26.48
Operating Income per Share	4.76	7.2	7.79	8.16	11.17	13.09	13.64	15.53	15.99	15.6	13.4	17.78	14.76	13.52	16.88
Basic EPS, GAAP	4.07	5.61	6.75	6.8	9.15	10.32	2.71	12.7	12.96	12.4	10.34	12.18	12.56	7.62	14.33
Basic EPS from Cont Ops	4.07	5.61	6.75	6.8	9.15	10.32	2.71	12.7	12.96	12.4	10.34	12.18	12.56	7.62	14.33
Diluted EPS, GAAP	4.04	5.52	6.64	6.7	9.06	10.24	2.69	12.62	12.88	12.31	10.28	12.11	12.49	7.56	14.23
Diluted EPS from Cont Ops	4.04	5.52	6.64	6.7	9.06	10.24	2.69	12.62	12.88	12.31	10.28	12.11	12.49	7.56	14.23
Dividend per Share	0.55	1.44	1.88	2.44	3.16	4.01	4.6	5.31	5.8	6.41	7.04	7.8	8.52	9	9.52
Cash Flow per Share	5.66	7.59	8.35	11.79	12.84	13.84	15.29	17.09	15.12	17.91	16.25	18.07	15.83	21.4	18.51
Free Cash Flow per Basic Share	5.03	6.67	7.43	10.47	11.98	12.72	14.38	15.97	14.1	16.88	14.7	16.33	13.76	19.36	15.06
Cash & Equivalents per Share	22.81	31.05	25.76	35.61	41.4	50.92	57.02	44.33	14.73	18.17	14.1	17.3	20.46	22.3	16.97
Book Value per Share	20.84	24.41	29.56	33.97	37.68	40.57	35.46	20.07	16.86	17.74	13.15	7.23	12.19	11.07	16.57
Tangible Book Value per Share	5.19	3.14	-8.15	-2.24	2.18	6.48	2.56	-14.59	-40.4	-37.32	-41	-51.95	-84.18	-75.34	-60.03

Amgen Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)