Amgen (AMGN) FY2011 results: revenue $15.6 billion, up 3.5% on the year
Amgen Inc. (AMGN) reported revenue of $15.6 billion for fiscal 2011, the year ended 31 December 2011, up 3.5% on the year before. Net income was $3.7 billion, down 20.4%, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2012.
Revenue
$15.6 billion
+3.5% on the year
FY2007FY2011
Operating margin
27.7%
36.8% a year earlier
FY2007FY2011
Net income
$3.7 billion
-20.4% on the year
FY2007FY2011
Diluted EPS
$4.04
-15.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
15,582
15,053
14,642
+3.5%
Cost of revenue
2,708
n/a
n/a
Gross profit
12,874
n/a
n/a
Gross margin
82.6%
n/a
n/a
Research and development
3,167
2,894
2,864
+9.4%
Selling, general and administrative
4,499
3,983
3,820
+13.0%
Operating income
4,312
5,545
5,506
-22.2%
Operating margin
27.7%
36.8%
37.6%
Interest expense
610
604
578
+1.0%
Pre-tax income
4,150
5,317
5,204
-21.9%
Income tax
467
690
599
-32.3%
Effective tax rate
11.3%
13.0%
11.5%
Net income
3,683
4,627
4,605
-20.4%
Net margin
23.6%
30.7%
31.5%
Diluted EPS
$4.04
$4.79
$4.51
-15.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
5,119
5,787
6,336
-11.5%
Capital expenditure
567
580
530
-2.2%
Free cash flow
4,552
5,207
5,806
-12.6%
Free cash flow margin
29.2%
34.6%
39.7%
Cash from investing
-786
-4,152
-3,202
Cash from financing
-674
-1,232
-2,024
Depreciation and amortisation
1,060
1,017
1,049
+4.2%
Share-based compensation
341
353
284
-3.4%
Buybacks
8,315
3,786
3,208
+119.6%
Dividends paid
500
0.0
0.0
Diluted shares, weighted
912m
965m
1,021m
-5.5%
Shares outstanding at period end
796m
932m
995m
-14.6%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
19,029
23,944
22,667
-20.5%
Debt
21,428
13,362
10,601
+60.4%
Other liabilities
8,414
6,180
6,361
+36.1%
Total liabilities and equity
48,871
43,486
39,629
+12.4%
Fixed assets
5,420
5,522
5,738
-1.8%
Goodwill
11,750
11,334
11,335
+3.7%
Intangible assets
2,584
2,230
2,567
+15.9%
Investments
13,695
14,135
10,558
-3.1%
Cash and equivalents
6,946
3,287
2,884
+111.3%
Receivables
2,896
2,335
2,109
+24.0%
Inventory
2,484
2,022
2,220
+22.8%
Other assets
3,096
2,621
2,218
+18.1%
Total assets
48,871
43,486
39,629
+12.4%
10-K for the year ended 31 December 2011, filed 29 February 2012: the filing.