0000318154-26-000010
SEC filingAmgen Inc. reported strong financial results for the fiscal year ended December 31, 2025, with total revenues reaching $36.75 billion. The company demonstrated solid profitability, generating a net income of $7.71 billion, resulting in earnings per share (EPS) of $14.00 on a diluted basis. Operating income stood at $9.08 billion, supported by total operating expenses of $27.67 billion, which included significant investments in research and development ($7.27 billion) and selling, general, and administrative costs ($7.05 billion). The balance sheet reflects a robust asset base of $90.59 billion, though stockholders' equity remains comparatively low at $8.66 billion due to a substantial accumulated deficit of $25.11 billion and considerable long-term debt obligations totaling $50.01 billion. Cash flow generation remained a highlight, with net cash provided by operating activities totaling $9.96 billion. This liquidity supported significant capital returns to shareholders, including $5.12 billion in dividends paid. However, the company utilized $10.86 billion in financing activities, primarily for debt repayment and dividends, leading to a decrease in cash and cash equivalents by $2.84 billion during the period.
Amgen Inc. delivered solid financial performance for the fiscal year ended December 31, 2025. The company reported total revenues of $36.75 billion. Cost of sales amounted to $12.04 billion, resulting in a gross profit of $24.71 billion. Total operating expenses were recorded at $27.67 billion, inclusive of $7.27 billion in research and development and $7.05 billion in selling, general, and administrative expenses. Operating income totaled $9.08 billion. After accounting for $2.75 billion in net interest expense and $2.65 billion in other income, income before taxes was $8.98 billion. The provision for income taxes was $1.26 billion, culminating in a net income of $7.71 billion. Diluted earnings per share were reported at $14.00, based on 542.0 million weighted-average shares.
The provided financial data discloses total revenues of $36.75 billion for the fiscal year. However, the XBRL data and document content do not contain a detailed breakdown of revenues by specific product lines, therapeutic areas, or geographic segments. Consequently, a granular analysis of revenue drivers or segment-specific growth is not feasible based solely on the provided inputs. Revenue generation appears to be driven by the company's established portfolio, but specific product contributions are not detailed in the source text.
Amgen maintained healthy profitability margins for the fiscal year. The gross margin stood at 67.2%, calculated as gross profit of $24.71 billion divided by total revenues. The operating margin was 24.7%, derived from operating income of $9.08 billion against total revenues. The effective tax rate was approximately 14.0%, based on the provision for income taxes of $1.26 billion relative to the pre-tax income of $8.98 billion. Significant non-cash charges, including $5.17 billion in depreciation and amortization and $1.20 billion in intangible asset impairment, impacted the income statement but were add-backed in the cash flow reconciliation.
The company demonstrated robust cash generation capabilities. Net cash provided by operating activities was $9.96 billion. After deducting capital expenditures of $1.86 billion, free cash flow approximated $8.10 billion. On the balance sheet, total assets were $90.59 billion, including $9.13 billion in cash and cash equivalents. Total current liabilities were $25.49 billion. Long-term debt remained a significant obligation at $50.01 billion. Stockholders' equity was reported at $8.66 billion, constrained by an accumulated deficit of $25.11 billion. The company returned $5.12 billion to shareholders through dividends.
The provided XBRL financial data and document content do not contain specific forward-looking statements, management guidance, or strategic priorities regarding future fiscal periods. While the filing date is noted as 2026-02-13, the source text is limited to historical financial statements. Therefore, an assessment of future outlook, risk factors, or strategic initiatives cannot be provided based on the available information.