Amgen (AMGN) FY2025 10-K Annual Report
Amgen (AMGN) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 13, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Amgen FY2025 10-K Analysis
Business Overview
- • Core business: Biopharmaceutical company focused on innovative therapies for serious illnesses
- • NEW segment emphasis: Integration and conversion of Horizon Therapeutics' equity plans post-acquisition in October 2023
Management Discussion & Analysis
- • Cash and equivalents $9.1B in 2025 vs $12.0B in 2024, decline of $2.9B
- • Long-term debt decreased to $50.0B in 2025 from $56.5B in 2024
Risk Factors
- • Litigation risk: Ongoing U.S. Antitrust trial with Regeneron; jury awarded $135.6M compensatory damages, potential trebling to $406.8M total damages
- • Geopolitical exposure: Patent disputes in Germany and Japan with Sanofi and Regeneron, including upheld EP’004 patent validity and ongoing appeals
Amgen FY2025 Key Financial MetricsXBRL
Revenue
$36.8B
▲ +10.0% YoY
Net Income
$7.7B
▲ +88.5% YoY
Operating Margin
24.7%
▲ +299bp YoY
Net Margin
21.0%
▲ +875bp YoY
ROE
89.1%
▲ +1947bp YoY
Total Assets
$90.6B
▼ -1.4% YoY
EPS (Diluted)
$14.23
▲ +88.2% YoY
Operating Cash Flow
$10.0B
▼ -13.3% YoY
Source: XBRL data from Amgen FY2025 10-K filing on SEC EDGAR. All figures in USD.
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