Amgen (AMG) AI Stock Analysis

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Amgen

(XETRA:AMG)

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Positive Factors

Broad portfolio growthGrowth is broad rather than dependent on one product, with multiple therapies delivering double-digit gains and key drivers representing most product sales. This diversification supports more durable revenue expansion, improves commercial resilience, and gives Amgen a stronger base for continued investment.

Negative Factors

Heavy financial leverageHeavy leverage leaves Amgen more exposed if earnings weaken, because interest obligations and refinancing needs can absorb cash that might otherwise support innovation or shareholder returns. The relatively small equity base also amplifies financial risk when operating performance becomes less consistent.

Amgen (AMG) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 253.21B
Dividend Yield: 2.09%
Average Volume (3M): 496
Price to Earnings (P/E): 26.9
Beta (1Y): 0.30
Revenue Growth: 3.40%
EPS Growth: 29.11%
Country: Germany
Employees: 31,500
Sector: Healthcare
Sector Strength: 51
Industry: Drug Manufacturers - General

Amgen Business Overview & Revenue Model

Company Description

Amgen Inc., established in 1980 and headquartered in Thousand Oaks, California, is a global biotechnology leader focused on discovering, developing, manufacturing, and delivering groundbreaking human medicines. The company's scientific endeavors span...

Amgen Earnings Call Summary

Earnings Call Date:Nov 03, 2026(Q3-2026)|% Change Since:0.34%|Next Earnings Date:Feb 09, 2027

Earnings Call SentimentPositive

The call was strongly optimistic, supported by 8% revenue growth, 27% growth from the six key growth drivers, broad product momentum, positive late-stage clinical results, strong free cash flow and raised 2026 revenue and EPS guidance. The principal negatives were a 6% TEPEZZA sales decline, expected fourth-quarter expense increases, higher full-year other expense guidance and some uncertainty around upcoming symptomatic Sjogren's data and international MariTide reimbursement. Highlights significantly outweighed the lowlights.

Positive Updates

Broad Revenue Growth and Portfolio Momentum

Third-quarter total revenues grew 8% year-over-year to $10.4 billion. The six key growth drivers grew 27% year-over-year and represented more than 70% of third-quarter product sales. Across the portfolio, 17 products delivered double-digit sales growth, and 17 products were annualizing at more than $1 billion based on third-quarter sales.

Negative Updates

TEPEZZA Sales Decline

TEPEZZA generated $526 million in third-quarter sales, a 6% decline year-over-year, impacted by an inventory build in the third quarter of the prior year.

Company Guidance

For 2026, Amgen now expects total revenues in the range of $38.9 billion to $39.7 billion and non-GAAP earnings per share between $22.90 and $23.70; non-GAAP other income and expense is expected to be in the range of $2 billion to $2.1 billion of expense, full-year non-GAAP operating margin as a percentage of product sales is expected to be roughly 45% to 46%, other revenue is expected to be approximately $1.9 billion, the non-GAAP tax rate is expected to be in the range of 15% to 16.5%, share repurchases are expected not to exceed $3 billion, and capital expenditures are expected to be approximately $2.6 billion. For the fourth quarter, Amgen expects a meaningful sequential increase in operating expenses, including a sequentially higher cost of sales margin and higher SG&A expense. Looking ahead to 2027, Amgen does not anticipate a step-down in operating margin compared with its 2026 guidance.

Amgen Risk Analysis

Amgen disclosed 28 risk factors in its most recent earnings report. Amgen reported the most risks in the "Ability to Sell" category.

Ability to Sell - Risks related to the company’s ability to sell goods and services

Latest Risks Added

0 New Risks

Amgen Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

DE:AMG against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVS	72Outperform	$295.79B	30.66	24.24%	2.96%	1.64%	-28.72%
ABBV	71Outperform	$519.48B	50.60	-202.50%	2.35%	10.68%	338.08%
JNJ	70Outperform	$675.92B	42.51	19.55%	1.88%	7.81%	-35.95%
BMY	66Neutral	$128.37B	13.92	43.88%	4.01%	4.19%	52.55%
MRK	64Neutral	$364.98B	150.19	5.29%	2.31%	5.21%	-86.88%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

* Healthcare Sector Average

Performance Comparison

DE:AMG and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:AMG	Amgen Inc	416.10	130.17	45.52%
BMY	Bristol-Myers Squibb Company	62.91	16.35	35.12%
JNJ	Johnson & Johnson	280.41	89.46	46.85%
MRK	Merck & Company	147.18	56.90	63.03%
NVS	Novartis AG	160.32	30.94	23.92%
ABBV	Abbvie	294.98	69.44	30.79%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Amgen AI Stock Analysis