Question 1

What is Amgen's P/S ratio?

Accepted Answer

Amgen (AMGN) P/S ratio is 5.3× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Amgen?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Amgen specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

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

Accepted Answer

Amgen's P/S ratio of 5.3× is above its own 5-year average of 4.9× and above the sector median of 3.4×. That places the current reading at the 72th 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/S ratio range?

Accepted Answer

In the available daily series, Amgen (AMGN) P/S ratio has ranged from a low of 3.1× in 2008 to a high of 15.5× in 2002. The 5-year average is 4.9× and the 5-year median is 4.9×.

Question 7

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

Accepted Answer

Amgen (AMGN) P/S ratio at the end of 2025 was 4.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$36.8B	4.8×	+0.6×	Dec 31, 2025
2024	$141B	$33.4B	4.2×	-1.3×	Dec 31, 2024
2023	$154B	$28.2B	5.5×	+0.1×	Dec 31, 2023
2022	$141B	$26.3B	5.3×	+0.5×	Dec 31, 2022
2021	$126B	$26B	4.9×	-0.4×	Dec 31, 2021
2020	$134B	$25.4B	5.3×	-0.9×	Dec 31, 2020
2019	$143B	$23.4B	6.1×	+0.9×	Dec 31, 2019
2018	$124B	$23.7B	5.2×	-0.3×	Dec 31, 2018
2017	$126B	$22.8B	5.5×	+0.8×	Dec 31, 2017
2016	$108B	$23B	4.7×	-0.9×	Dec 31, 2016
2015	$122B	$21.7B	5.7×	-0.4×	Dec 31, 2015
2014	$121B	$20.1B	6.0×	+1.4×	Dec 31, 2014
2013	$86B	$18.7B	4.6×	+0.8×	Dec 31, 2013
2012	$65.8B	$17.3B	3.8×	+0.5×	Dec 31, 2012
2011	$50.8B	$15.6B	3.3×	-0.1×	Dec 31, 2011
2010	$51.2B	$15.1B	3.4×	-0.4×	Dec 31, 2010
2009	$55.6B	$14.6B	3.8×	-0.2×	Dec 31, 2009
2008	$59.6B	$15B	4.0×	+0.5×	Dec 31, 2008
2007	$50.6B	$14.8B	3.4×	-2.2×	Dec 31, 2007
2006	$79.7B	$14.3B	5.6×	-2.0×	Dec 31, 2006
2005	$94.8B	$12.4B	7.6×	+0.0×	Dec 31, 2005
2004	$80.1B	$10.5B	7.6×	-1.9×	Dec 31, 2004
2003	$79.1B	$8.36B	9.5×	-2.0×	Dec 31, 2003
2002	$62.4B	$5.44B	11.5×	—	Dec 31, 2002


Zimmer Biomet Holdings (ZBH)	2.1×
AptarGroup (ATR)	2.1×
Becton, Dickinson and (BDX)	2.1×
Charles River (CRL)	1.9×
Quest Diagnostics (DGX)	1.9×
IQVIA (IQV)	1.7×
GE HealthCare (GEHC)	1.6×
Labcorp Holdings (LH)	1.6×
HCA Healthcare (HCA)	1.4×
Solventum (SOLV)	1.4×
Viatris (VTRS)	1.1×
UnitedHealth Group (UNH)	0.8×
Baxter International (BAX)	0.8×
DaVita (DVA)	0.7×
Henry Schein (HSIC)	0.6×
Universal Health Services (UHS)	0.6×
Elevance Health (ELV)	0.4×
Teladoc Health (TDOC)	0.4×
McKesson (MCK)	0.3×
Cigna (CI)	0.3×
CVS Health (CVS)	0.2×
Cardinal Health (CAH)	0.2×
Cencora (COR)	0.2×
Humana (HUM)	0.2×
Centene (CNC)	0.1×

P/S Ratio for Amgen (AMGN) 2002-2026

P/S Ratio daily chart for Amgen (AMGN)

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

About P/S Ratio at Amgen (AMGN)

Amgen P/S Ratio by Year

Amgen P/S Ratio 2025: 4.8×

Amgen P/S Ratio 2024: 4.2×

Amgen P/S Ratio 2023: 5.5×

Amgen P/S Ratio 2022: 5.3×

Amgen P/S Ratio 2021: 4.9×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Amgen (AMGN) Key Financials