How does Amgen (AMGN) make money?

Amgen (AMGN) generates revenue primarily from Other Products, which accounted for 20.5% of total revenue in TTM through Q1 2026. The company reported $37.2B in revenue and converted 20.9% of it into net profit, equivalent to roughly $7.8B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Amgen (AMGN)?

Amgen (AMGN) reported a gross profit margin of 71.5% in TTM through Q1 2026, equivalent to $26.6B in gross profit on $37.2B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Amgen (AMGN)?

Amgen (AMGN) reported an operating profit margin of 31.6% in TTM through Q1 2026, equivalent to $11.8B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Amgen (AMGN)?

Amgen (AMGN) reported a net profit margin of 20.9% in TTM through Q1 2026, equivalent to $7.8B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Amgen (AMGN) profitable?

Yes. Amgen (AMGN) reported $7.8B in net income for TTM through Q1 2026, with a net profit margin of 20.9%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Amgen (AMGN) invest in research and development?

Amgen (AMGN) invested $7.51B in research and development during TTM through Q1 2026, roughly 20.2% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Amgen (AMGN) spend on capital expenditures?

Amgen (AMGN) spent $2.16B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 5.8% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Amgen (AMGN) generate?

Amgen (AMGN) generated $8.6B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 23.1%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Amgen (AMGN)?

Amgen (AMGN) had an effective tax rate of 14.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Amgen (AMGN)?

Amgen (AMGN) reports revenue across 16 reportable product segments, led by Other Products at 20.5% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Amgen Makes Money: 2026 Visual Revenue Map

Amgen (AMGN) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

Amgen discloses geographic revenue only in annual filings. to view the full breakdown.

Amgen (AMGN) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Amgen (AMGN), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Other Products	$7.64B	20.5%
Prolia	$4.51B	12.1%
Otezla	$2.49B	6.7%
ENBREL	$2.33B	6.3%
EVENITY	$2.25B	6.1%
TEPEZZA	$2.07B	5.6%
XGEVA	$2.06B	5.5%
Repatha (evolocumab)	$2.03B	5.4%
Other segments	$11.9B	31.8%
Total	$37.2B	100%

Other Products$7.64B
Prolia$4.51B
Otezla$2.49B
ENBREL$2.33B
EVENITY$2.25B
TEPEZZA$2.07B
XGEVA$2.06B
Repatha (evolocumab)$2.03B
Other segments$11.9B
Total$37.2B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Amgen (AMGN) reports revenue across 16 reportable product segments; the largest segment was Other Products at 20.5%, followed by Prolia (12.1%) and Otezla (6.7%).

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