Amgen (AMGN) FY2018 results: revenue $23.7 billion, up 3.9% on the year
Amgen Inc. (AMGN) reported revenue of $23.7 billion for fiscal 2018, the year ended 31 December 2018, up 3.9% on the year before. Net income was $8.4 billion, up 324.2%, and diluted earnings per share $12.62. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$23.7 billion
+3.9% on the year
FY2011FY2018
Operating margin
43.2%
43.6% a year earlier
FY2011FY2018
Net income
$8.4 billion
+324.2% on the year
FY2011FY2018
Diluted EPS
$12.62
+369.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
23,747
22,849
22,991
+3.9%
Cost of revenue
4,101
4,069
4,162
+0.8%
Gross profit
19,646
18,780
18,829
+4.6%
Gross margin
82.7%
82.2%
81.9%
Research and development
3,737
3,562
3,840
+4.9%
Selling, general and administrative
5,332
4,870
5,062
+9.5%
Operating income
10,263
9,973
9,794
+2.9%
Operating margin
43.2%
43.6%
42.6%
Interest expense
1,392
1,304
1,260
+6.7%
Pre-tax income
9,545
9,597
9,163
-0.5%
Income tax
1,151
7,618
1,441
-84.9%
Effective tax rate
12.1%
79.4%
15.7%
Net income
8,394
1,979
7,722
+324.2%
Net margin
35.3%
8.7%
33.6%
Diluted EPS
$12.62
$2.69
$10.24
+369.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
11,296
11,177
10,354
+1.1%
Capital expenditure
738
664
738
+11.1%
Free cash flow
10,558
10,513
9,616
+0.4%
Free cash flow margin
44.5%
46.0%
41.8%
Cash from investing
14,339
-4,024
-8,658
Cash from financing
-22,490
-6,594
-2,599
Depreciation and amortisation
1,946
1,955
2,105
-0.5%
Share-based compensation
311
329
311
-5.5%
Buybacks
17,794
3,160
2,965
+463.1%
Dividends paid
3,507
3,365
2,998
+4.2%
Dividend per share
$5.41
$4.77
$4.15
+13.4%
Diluted shares, weighted
665m
735m
754m
-9.5%
Shares outstanding at period end
630m
722m
738m
-12.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
12,500
25,241
29,875
-50.5%
Debt
33,929
35,342
34,596
-4.0%
Other liabilities
19,987
19,371
13,155
+3.2%
Total liabilities and equity
66,416
79,954
77,626
-16.9%
Fixed assets
4,958
4,989
4,961
-0.6%
Goodwill
14,699
14,761
14,751
-0.4%
Intangible assets
7,443
8,609
10,279
-13.5%
Investments
22,359
37,878
34,844
-41.0%
Cash and equivalents
6,945
3,800
3,241
+82.8%
Receivables
3,580
3,237
3,165
+10.6%
Inventory
2,940
2,834
2,745
+3.7%
Other assets
3,492
3,846
3,640
-9.2%
Total assets
66,416
79,954
77,626
-16.9%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.