| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 34 | 27.6x | 17.3x | Bottom tier | |
Growth | 51 | 9.1% | 7.1% | Around median | |
Quality | 92 | 14.7% | 4.5% | Top tier | |
Safety | 53 | 2.7x | 2.6x | Around median | |
Capital Return | 50 | 2.20% | 0.06% | Around median | |
Momentum | 95 | 38.1% | -1.6% | Top tier | |
Sentiment | 44 | 20 | 3 | Around median |
The floor: what the company is worth if growth stopped today
71% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Amgen is a biotechnology company that generates revenue from the sale of innovative medicines and biosimilars across general medicine, inflammation, rare diseases, and oncology. Its main commercial drivers include Repatha, EVENITY, TEZSPIRE, the rare disease portfolio, the innovative oncology portfolio, and biosimilars; these six drivers represented approximately 70% of product sales in Q2 FY2026, after growing a combined 26% year over year.
In Q2 FY2026, revenue reached $10.1 billion, up 10% year over year, gross profit was $7.2 billion, net income was $2.4 billion, and earnings per share were $4.37. These figures equate to a gross margin of approximately 71.3% and a net income margin of approximately 23.8%, while the non-GAAP operating margin was 48%.
The growth mix was broad across the portfolio: rare diseases generated $1.6 billion, up 21%; innovative oncology generated approximately $2 billion, up 18%; and biosimilars generated $855 million, up 29%. In contrast, combined Prolia and XGEVA sales declined 33% to $1.1 billion following the launch of several competing biosimilars, demonstrating that growth from newer products is offsetting pressure on older products.
The analyst consensus for AMGN stock is “Buy,” with an average price target of $386.68 and a wide range between $230 and $460. The average target is above the midpoint of the 52-week range of approximately $358.39, but it is approximately 13.5% below the range high of $447.01, while the highest target exceeds that high and the lowest target falls below the range low of $269.77; this dispersion reflects substantial disagreement over the value of clinical growth and competitive risks.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue increased 10% year over year to $10.1 billion, and 22 products achieved double-digit growth. Repatha grew 37% to $953 million, UPLIZNA grew 90% to $335 million, and IMDELLTRA grew 115% to $288 million. The six main drivers collectively increased 26% and represented approximately 70% of product sales.
On August 4, 2026, the company raised its expected revenue range to $38.2–$39.4 billion. It also raised its non-GAAP earnings-per-share range to $22.30–$23.50, with an expected operating margin of between 45% and 46%. It also expects capital expenditures of approximately $2.6 billion and non-GAAP research and development expenses to grow at a high-single-digit rate.
MariTide is Amgen's main obesity asset, and as of August 2026, it was undergoing nine ongoing phase 3 studies, with three additional studies planned. The therapy was designed to begin with monthly dosing, with a maintenance study that could reduce the number of doses to four or six annually, compared with 52 annual doses for weekly therapies. The company has spent under its manufacturing plan in preparation for volume growth and the launch of MariTide, but the asset's success still depends on phase 3 results.
Automated analysis for informational purposes only — not investment advice.
Combined Prolia and XGEVA sales declined 33% to $1.1 billion in Q2 FY2026 as several biosimilars entered the market. In contrast, Amgen's biosimilars portfolio grew 29% to $855 million, including PAVBLU, which grew 121% to $287 million. The company is also developing biosimilars for EYLEA HD, OPDIVO, KEYTRUDA, and OCREVUS in advanced clinical stages.
Operational risks include the 33% decline in Prolia and XGEVA, pricing pressure on Otezla, and the reliance of approximately 70% of product sales on six main drivers. In the pipeline, the company discontinued AMG 513, and the phase 2 sunakiment study did not achieve statistical significance on its primary endpoint. A July 31, 2026 disclosure also revealed the theft of company data and patient health information from cloud systems managed by third parties, creating the potential for regulatory scrutiny and litigation.