Amgen (AMGN) FY2017 results: revenue $22.8 billion, down 0.6% on the year
Amgen Inc. (AMGN) reported revenue of $22.8 billion for fiscal 2017, the year ended 31 December 2017, down 0.6% on the year before. Net income was $2.0 billion, down 74.4%, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2018.
Revenue
$22.8 billion
-0.6% on the year
FY2010FY2017
Operating margin
43.6%
42.6% a year earlier
FY2010FY2017
Net income
$2.0 billion
-74.4% on the year
FY2010FY2017
Diluted EPS
$2.69
-73.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
22,849
22,991
21,662
-0.6%
Cost of revenue
4,069
4,162
4,227
-2.2%
Gross profit
18,780
18,829
17,435
-0.3%
Gross margin
82.2%
81.9%
80.5%
Research and development
3,562
3,840
4,070
-7.2%
Selling, general and administrative
4,870
5,062
4,846
-3.8%
Operating income
9,973
9,794
8,470
+1.8%
Operating margin
43.6%
42.6%
39.1%
Interest expense
1,304
1,260
1,095
+3.5%
Pre-tax income
9,597
9,163
7,978
+4.7%
Income tax
7,618
1,441
1,039
+428.7%
Effective tax rate
79.4%
15.7%
13.0%
Net income
1,979
7,722
6,939
-74.4%
Net margin
8.7%
33.6%
32.0%
Diluted EPS
$2.69
$10.24
$9.06
-73.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
11,177
10,354
9,731
+7.9%
Capital expenditure
664
738
594
-10.0%
Free cash flow
10,513
9,616
9,137
+9.3%
Free cash flow margin
46.0%
41.8%
42.2%
Cash from investing
-4,024
-8,658
-5,547
Cash from financing
-6,594
-2,599
-3,771
Depreciation and amortisation
1,955
2,105
2,108
-7.1%
Share-based compensation
329
311
322
+5.8%
Buybacks
3,160
2,965
1,867
+6.6%
Dividends paid
3,365
2,998
2,396
+12.2%
Dividend per share
$4.77
$4.15
n/a
+14.9%
Diluted shares, weighted
735m
754m
766m
-2.5%
Shares outstanding at period end
722m
738m
754m
-2.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
25,241
29,875
28,083
-15.5%
Debt
35,342
34,596
31,429
+2.2%
Other liabilities
19,371
13,155
12,064
+47.3%
Total liabilities and equity
79,954
77,626
71,576
+3.0%
Fixed assets
4,989
4,961
4,907
+0.6%
Goodwill
14,761
14,751
14,751
+0.1%
Intangible assets
8,609
10,279
11,641
-16.2%
Investments
37,878
34,844
27,238
+8.7%
Cash and equivalents
3,800
3,241
4,144
+17.2%
Receivables
3,237
3,165
2,995
+2.3%
Inventory
2,834
2,745
2,435
+3.2%
Other assets
3,846
3,640
3,465
+5.7%
Total assets
79,954
77,626
71,576
+3.0%
10-K for the year ended 31 December 2017, filed 13 February 2018: the filing.