Amgen (AMGN) FY2016 results: revenue $23.0 billion, up 6.1% on the year
Amgen Inc. (AMGN) reported revenue of $23.0 billion for fiscal 2016, the year ended 31 December 2016, up 6.1% on the year before. Net income was $7.7 billion, up 11.3%, and diluted earnings per share $10.24. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2017.
Revenue
$23.0 billion
+6.1% on the year
FY2009FY2016
Operating margin
42.6%
39.1% a year earlier
FY2009FY2016
Net income
$7.7 billion
+11.3% on the year
FY2009FY2016
Diluted EPS
$10.24
+13.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
22,991
21,662
20,063
+6.1%
Cost of revenue
4,162
4,227
4,422
-1.5%
Gross profit
18,829
17,435
15,641
+8.0%
Gross margin
81.9%
80.5%
78.0%
Research and development
3,840
4,070
4,297
-5.7%
Selling, general and administrative
5,062
4,846
4,699
+4.5%
Operating income
9,794
8,470
6,191
+15.6%
Operating margin
42.6%
39.1%
30.9%
Interest expense
1,260
1,095
1,071
+15.1%
Pre-tax income
9,163
7,978
5,585
+14.9%
Income tax
1,441
1,039
427
+38.7%
Effective tax rate
15.7%
13.0%
7.6%
Net income
7,722
6,939
5,158
+11.3%
Net margin
33.6%
32.0%
25.7%
Diluted EPS
$10.24
$9.06
$6.70
+13.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
10,354
9,731
8,952
+6.4%
Capital expenditure
738
594
718
+24.2%
Free cash flow
9,616
9,137
8,234
+5.2%
Free cash flow margin
41.8%
42.2%
41.0%
Cash from investing
-8,658
-5,547
-5,752
Cash from financing
-2,599
-3,771
-3,274
Depreciation and amortisation
2,105
2,108
2,092
-0.1%
Share-based compensation
311
322
408
-3.4%
Buybacks
2,965
1,867
138
+58.8%
Dividends paid
2,998
2,396
1,851
+25.1%
Dividend per share
$4.15
n/a
n/a
Diluted shares, weighted
754m
766m
770m
-1.6%
Shares outstanding at period end
738m
754m
760m
-2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
29,875
28,083
25,778
+6.4%
Debt
34,596
31,429
30,588
+10.1%
Other liabilities
13,155
12,064
12,643
+9.0%
Total liabilities and equity
77,626
71,576
69,009
+8.5%
Fixed assets
4,961
4,907
5,223
+1.1%
Goodwill
14,751
14,751
14,788
0.0%
Intangible assets
10,279
11,641
12,693
-11.7%
Investments
34,844
27,238
23,295
+27.9%
Cash and equivalents
3,241
4,144
3,731
-21.8%
Receivables
3,165
2,995
2,546
+5.7%
Inventory
2,745
2,435
2,647
+12.7%
Other assets
3,640
3,465
4,086
+5.1%
Total assets
77,626
71,576
69,009
+8.5%
10-K for the year ended 31 December 2016, filed 14 February 2017: the filing.