Question 1

What is Amgen's P/E ratio?

Accepted Answer

Amgen (AMGN) P/E ratio is 25.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Amgen?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Amgen specifically, the relevant sector benchmark is the current sector median of 24.2×.

Question 5

Is Amgen's P/E ratio high or low?

Accepted Answer

Amgen's P/E ratio of 25.5× is below its own 5-year average of 25.6× and above the sector median of 24.2×. That places the current reading at the 71th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Amgen's historical P/E ratio range?

Accepted Answer

In the available daily series, Amgen (AMGN) P/E ratio has ranged from a low of 10.8× in 2010 to a high of 63.6× in 2017. The 5-year average is 25.6× and the 5-year median is 22.8×.

Question 7

What was Amgen's P/E ratio in 2025?

Accepted Answer

Amgen (AMGN) P/E ratio at the end of 2025 was 22.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Amgen's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$176B	$7.71B	22.9×	-11.6×	Dec 31, 2025
2024	$141B	$4.09B	34.4×	+11.5×	Dec 31, 2024
2023	$154B	$6.72B	22.9×	+1.5×	Dec 31, 2023
2022	$141B	$6.55B	21.4×	-0.0×	Dec 31, 2022
2021	$126B	$5.89B	21.5×	+3.1×	Dec 31, 2021
2020	$134B	$7.26B	18.4×	+0.2×	Dec 31, 2020
2019	$143B	$7.84B	18.2×	+3.5×	Dec 31, 2019
2018	$124B	$8.39B	14.7×	-48.9×	Dec 31, 2018
2017	$126B	$1.98B	63.6×	+49.5×	Dec 31, 2017
2016	$108B	$7.72B	14.0×	-3.6×	Dec 31, 2016
2015	$122B	$6.94B	17.6×	-5.9×	Dec 31, 2015
2014	$121B	$5.16B	23.5×	+6.6×	Dec 31, 2014
2013	$86B	$5.08B	16.9×	+1.8×	Dec 31, 2013
2012	$65.8B	$4.35B	15.1×	+1.3×	Dec 31, 2012
2011	$50.8B	$3.68B	13.8×	+2.7×	Dec 31, 2011
2010	$51.2B	$4.63B	11.1×	-1.0×	Dec 31, 2010
2009	$55.6B	$4.61B	12.1×	-2.1×	Dec 31, 2009
2008	$59.6B	$4.2B	14.2×	-1.8×	Dec 31, 2008
2007	$50.6B	$3.17B	16.0×	-11.0×	Dec 31, 2007
2006	$79.7B	$2.95B	27.0×	+1.2×	Dec 31, 2006
2005	$94.8B	$3.67B	25.8×	-8.1×	Dec 31, 2005
2004	$80.1B	$2.36B	33.9×	-1.1×	Dec 31, 2004
2003	$79.1B	$2.26B	35.0×	—	Dec 31, 2003
2002	$62.4B	-$1.39B	—	—	Dec 31, 2002


Medtronic (MDT)	22.2×
McKesson (MCK)	22.2×
Illumina (ILMN)	21.7×
ResMed (RMD)	21.6×
GE HealthCare (GEHC)	21.6×
Pfizer (PFE)	21.1×
Quest Diagnostics (DGX)	21.1×
Henry Schein (HSIC)	21.0×
AptarGroup (ATR)	20.9×
IQVIA (IQV)	20.7×
Biogen (BIIB)	19.7×
Zoetis (ZTS)	18.9×
Gilead Sciences (GILD)	18.8×
Humana (HUM)	18.5×
Regeneron Pharmaceuticals (REGN)	18.2×
Bristol-Myers Squibb (BMY)	17.0×
Elevance Health (ELV)	17.0×
HCA Healthcare (HCA)	15.8×
AstraZeneca (AZN)	14.7×
DaVita (DVA)	13.3×
Incyte (INCY)	13.1×
Cigna (CI)	11.1×
Novo Nordisk (NVO)	8.6×
Solventum (SOLV)	7.9×
Universal Health Services (UHS)	7.2×

P/E Ratio for Amgen (AMGN) 2003-2026

P/E Ratio daily chart for Amgen (AMGN)

Historical P/E Ratio for Amgen (AMGN) from 2002 to 2025

About P/E Ratio at Amgen (AMGN)

Amgen P/E Ratio by Year

Amgen P/E Ratio 2025: 22.9×

Amgen P/E Ratio 2024: 34.4×

Amgen P/E Ratio 2023: 22.9×

Amgen P/E Ratio 2022: 21.4×

Amgen P/E Ratio 2021: 21.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Amgen (AMGN) Key Financials