Amgen (AMGN) Q3 2025 10-Q Quarterly Report
Filed: Nov 5, 2025Period ending Sep 30, 2025
Health Care
Biological Products, (No Diagnostic Substances)SEC EDGAR Amgen (AMGN) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Amgen Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $9.56B for Q3 2025, up 12% YoY from $8.15B; driven by volume growth (+14%), offset by net selling price declines (-4%)
- • Operating margin 26.4% (Operating income $2.53B from $2.05B), net income margin 33.6% (Net income $3.22B from $2.83B) for Q3 2025
Risk Factors
- • New risk: July 31, 2025 MFN Executive Order and July MFN Letter impose potential US drug price mandates affecting Medicaid, Medicare, and commercial payers
- • Updated regulatory risk: IRA Medicare price setting extended to approx. 100 drugs by 2031, with ENBREL and Otezla prices lowered for 2026 and 2027 respectively
Amgen Q3 2025 Quarterly FinancialsXBRL
Revenue
$9.6B
▲ +12.4% YoY▲ +4.1% QoQ
Net Income
$3.2B
▲ +13.6% YoY▲ +124.6% QoQ
Operating Margin
26.4%
▲ +236bp YoY▼ -250bp QoQ
Net Margin
33.7%
▲ +37bp YoY▲ +1805bp QoQ
ROE
33.4%
Total Assets
$90.1B
EPS (Diluted)
$5.93
▲ +13.4% YoY▲ +124.6% QoQ
Operating Cash Flow
$4.7B
▲ +31.2% YoY▲ +105.4% QoQ
Source: XBRL data from Amgen Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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