Amgen (AMGN) FY2024 results: revenue $33.4 billion, up 18.6% on the year
Amgen Inc. (AMGN) reported revenue of $33.4 billion for fiscal 2024, the year ended 31 December 2024, up 18.6% on the year before. Net income was $4.1 billion, down 39.1%, and diluted earnings per share $7.56. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$33.4 billion
+18.6% on the year
FY2017FY2024
Operating margin
21.7%
28.0% a year earlier
FY2017FY2024
Net income
$4.1 billion
-39.1% on the year
FY2017FY2024
Diluted EPS
$7.56
-39.5% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
11,490
8,471
9,721
+35.6%
Capital expenditure
1,096
1,112
936
-1.4%
Free cash flow
10,394
7,359
8,785
+41.2%
Free cash flow margin
31.1%
26.1%
33.4%
Cash from investing
-1,046
-26,204
-6,044
Cash from financing
-9,415
21,048
-4,037
Depreciation and amortisation
5,592
4,071
3,417
+37.4%
Share-based compensation
530
431
401
+23.0%
Buybacks
200
0.0
6,360
Dividends paid
4,832
4,556
4,196
+6.1%
Dividend per share
$9.13
$8.64
$7.95
+5.7%
Diluted shares, weighted
541m
538m
541m
+0.6%
Shares outstanding at period end
537m
535m
534m
+0.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
5,877
6,232
3,661
-5.7%
Debt
60,099
64,613
38,945
-7.0%
Operating lease liabilities
673
691
539
-2.6%
Other liabilities
25,190
25,618
21,976
-1.7%
Total liabilities and equity
91,839
97,154
65,121
-5.5%
Fixed assets
6,543
5,941
5,427
+10.1%
Goodwill
18,637
18,629
15,529
+0.0%
Intangible assets
27,699
32,641
16,080
-15.1%
Investments
n/a
0.0
1,676
Securities held for sale or to maturity
11,486
n/a
n/a
Cash and equivalents
11,973
10,944
7,629
+9.4%
Receivables
6,782
7,268
5,563
-6.7%
Inventory
6,998
9,518
4,930
-26.5%
Other assets
1,721
12,213
8,287
-85.9%
Total assets
91,839
97,154
65,121
-5.5%
10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.