Analysis of Revenues
Revenues as Reported
Amgen Inc., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Revenue Trends Overview
- The overall revenue demonstrates a consistent upward trajectory over the five-year period. Total revenues increased from US$25,424 million in 2020 to US$33,424 million in 2024, reflecting steady growth year on year.
- Human Therapeutics and Product Sales
- Human therapeutics, which coincides exactly with product sales in this data set, shows continuous growth. Starting at US$24,240 million in 2020, it edged marginally higher in 2021 to US$24,297 million, then progressively increased to US$32,026 million in 2024. The most notable increment occurs between 2023 and 2024, where revenue rose by approximately 19%, indicating strong expansion in this segment after a moderate growth phase.
- Other Revenues
- Other revenues exhibit more variability compared to human therapeutics. Rising from US$1,184 million in 2020 to a peak of US$1,682 million in 2021, these revenues then declined to US$1,280 million by 2023 before slightly recovering to US$1,398 million in 2024. This fluctuation signals some volatility or non-recurring elements affecting this revenue stream within the period.
- Comparative Insights
- The dominant contributor to total revenues is human therapeutics/product sales, maintaining over 90% of total revenue consistently. The steady growth in this primary revenue category drives the overall increase despite fluctuations in other revenues. The uptick in total revenues aligns closely with the trend in human therapeutics/product sales, confirming its critical role in the company's financial performance.