Stock Analysis on Net
Stock Analysis on Net

Amgen Inc. (NASDAQ:AMGN)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Amgen Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Product sales1 ÷ Total assets1
Dec 31, 2025 = ÷
Dec 31, 2024 = ÷
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Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The total asset turnover ratio for the period examined demonstrates a generally declining trend, with some fluctuations. Initially, the ratio remained relatively stable before exhibiting a more pronounced decrease, followed by a period of modest recovery and then a significant drop, and finally a partial recovery.

Initial Stability (2005-2007)
From 2005 to 2007, the total asset turnover ratio remained consistently around 0.41. This indicates a stable relationship between product sales and total assets during this period, suggesting consistent efficiency in asset utilization.
Decline (2008-2016)
Beginning in 2008, the ratio began a downward trajectory, decreasing from 0.40 to a low of 0.27 in 2016. This suggests a decreasing efficiency in generating sales from its asset base. The decline could be attributed to several factors, including an increase in total assets outpacing the growth in product sales, or potentially, a shift in asset composition towards less liquid or slower-turning assets.
Modest Recovery (2017-2019)
From 2017 to 2019, the ratio experienced a modest recovery, increasing from 0.27 to 0.37. This improvement suggests a renewed efficiency in asset utilization, potentially due to better asset management practices or increased sales relative to the asset base.
Significant Drop and Partial Recovery (2020-2025)
In 2020, the ratio rose to 0.39, but then experienced a substantial decline to 0.28 in 2022. This sharp decrease indicates a significant reduction in the efficiency of asset utilization. However, the ratio partially recovered in the following years, reaching 0.35 in 2023 and 0.39 in 2025. The large increase in total assets in 2022, coupled with a slower growth in product sales, likely contributed to the initial drop. The subsequent recovery suggests some stabilization or improvement in asset utilization in later years.

Overall, the observed fluctuations in the total asset turnover ratio warrant further investigation to understand the underlying drivers. A detailed analysis of changes in asset composition, sales strategies, and operational efficiency would be necessary to provide a comprehensive explanation for these trends.

Comparison to Competitors

Amgen Inc., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Amgen Inc. AbbVie Inc. Bristol-Myers Squibb Co. Danaher Corp. Eli Lilly & Co. Gilead Sciences Inc. Johnson & Johnson Merck & Co. Inc. Pfizer Inc. Regeneron Pharmaceuticals Inc. Thermo Fisher Scientific Inc. Vertex Pharmaceuticals Inc.
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

Amgen Inc., total asset turnover, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
Amgen Inc. Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Health Care)

Amgen Inc., total asset turnover, long-term trends, comparison to industry (health care)

Microsoft Excel
Amgen Inc. Health Care
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).