Amgen (AMGN) FY2023 results: revenue $28.2 billion, up 7.1% on the year
Amgen Inc. (AMGN) reported revenue of $28.2 billion for fiscal 2023, the year ended 31 December 2023, up 7.1% on the year before. Net income was $6.7 billion, up 2.5%, and diluted earnings per share $12.49. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2024.
Revenue
$28.2 billion
+7.1% on the year
FY2016FY2023
Operating margin
28.0%
36.3% a year earlier
FY2016FY2023
Net income
$6.7 billion
+2.5% on the year
FY2016FY2023
Diluted EPS
$12.49
+3.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,471
9,721
9,261
-12.9%
Capital expenditure
1,112
936
880
+18.8%
Free cash flow
7,359
8,785
8,381
-16.2%
Free cash flow margin
26.1%
33.4%
32.3%
Cash from investing
-26,204
-6,044
733
Cash from financing
21,048
-4,037
-8,271
Depreciation and amortisation
4,071
3,417
3,398
+19.1%
Share-based compensation
431
401
341
+7.5%
Buybacks
0.0
6,360
4,975
Dividends paid
4,556
4,196
4,013
+8.6%
Dividend per share
$8.64
$7.95
$7.22
+8.7%
Diluted shares, weighted
538m
541m
573m
-0.6%
Shares outstanding at period end
535m
534m
558m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,232
3,661
6,700
+70.2%
Debt
64,613
38,945
33,309
+65.9%
Operating lease liabilities
691
539
525
+28.2%
Other liabilities
25,618
21,976
20,631
+16.6%
Total liabilities and equity
97,154
65,121
61,165
+49.2%
Fixed assets
5,941
5,427
5,184
+9.5%
Goodwill
18,629
15,529
14,890
+20.0%
Intangible assets
32,641
16,080
15,182
+103.0%
Investments
0.0
1,676
48.0
Cash and equivalents
10,944
7,629
7,989
+43.5%
Receivables
7,268
5,563
4,895
+30.6%
Inventory
9,518
4,930
4,086
+93.1%
Other assets
12,213
8,287
8,891
+47.4%
Total assets
97,154
65,121
61,165
+49.2%
10-K for the year ended 31 December 2023, filed 14 February 2024: the filing.