Stock Analysis on Net
Stock Analysis on Net

Amgen Inc. (NASDAQ:AMGN)

Total Asset Turnover 
since 2005

Microsoft Excel

Calculation

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

Microsoft Excel
Total asset turnover = Product sales1 ÷ Total assets1
Dec 31, 2024 0.35 = 32,026 ÷ 91,839
Dec 31, 2023 0.28 = 26,910 ÷ 97,154
Dec 31, 2022 0.38 = 24,801 ÷ 65,121
Dec 31, 2021 0.40 = 24,297 ÷ 61,165
Dec 31, 2020 0.39 = 24,240 ÷ 62,948
Dec 31, 2019 0.37 = 22,204 ÷ 59,707
Dec 31, 2018 0.34 = 22,533 ÷ 66,416
Dec 31, 2017 0.27 = 21,795 ÷ 79,954
Dec 31, 2016 0.28 = 21,892 ÷ 77,626
Dec 31, 2015 0.29 = 20,944 ÷ 71,576
Dec 31, 2014 0.28 = 19,327 ÷ 69,009
Dec 31, 2013 0.28 = 18,192 ÷ 66,125
Dec 31, 2012 0.31 = 16,639 ÷ 54,298
Dec 31, 2011 0.31 = 15,295 ÷ 48,871
Dec 31, 2010 0.34 = 14,660 ÷ 43,486
Dec 31, 2009 0.36 = 14,351 ÷ 39,629
Dec 31, 2008 0.40 = 14,687 ÷ 36,443
Dec 31, 2007 0.41 = 14,311 ÷ 34,639
Dec 31, 2006 0.41 = 13,858 ÷ 33,788
Dec 31, 2005 0.41 = 12,022 ÷ 29,297

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), 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 analysis of the financial data reveals several notable trends over the period from 2005 to 2024 in key aspects such as product sales, total assets, and total asset turnover.

Product Sales
Product sales show a generally consistent upward trend throughout the years. Starting from US$12,022 million in 2005, sales experienced steady growth, reaching US$16,639 million by 2012. This positive trajectory continued, with some minor fluctuations around 2017 to 2019, where sales slightly decreased or stabilized around the US$22,000 million mark. From 2020 onwards, a significant increase is noted, reaching a peak of US$32,026 million in 2024. This growth pattern indicates a robust market demand and expanding revenues over the long term.
Total Assets
Total assets demonstrate an increasing trend from US$29,297 million in 2005 to a peak above US$79,954 million in 2017, indicating considerable asset accumulation and possible investment in growth or acquisitions. However, in 2018 and 2019, total assets show a marked decline, dropping to US$66,416 million and US$59,707 million respectively. After this decline, assets slightly recover to about US$65,121 million in 2022 but then experience a sharp increase to US$97,154 million in 2023, followed by a decline to US$91,839 million in 2024. This volatility suggests significant asset revaluations, disposals, or strategic shifts in asset management during this period.
Total Asset Turnover
The total asset turnover ratio generally declines from 0.41 in 2005 to a low of 0.27 by 2017, reflecting a reduction in revenue generated per unit of asset. This trend implies that asset growth initially outpaced sales increases, possibly indicating less efficient asset utilization. However, from 2018 onwards, the ratio improves reaching approximately 0.39 by 2021, showing enhanced efficiency or better leveraging of assets. The ratio slightly decreases to 0.28 in 2023 but rebounds to 0.35 by 2024. These fluctuations correspond with changes in asset base and sales volume, suggesting periods of adjustment in operational efficiency.

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, 2024 0.35 0.42 0.52 0.31 0.57 0.48 0.49 0.55 0.30 0.38 0.44 0.49
Dec 31, 2023 0.28 0.40 0.47 0.28 0.53 0.43 0.51 0.56 0.26 0.40 0.43 0.43
Dec 31, 2022 0.38 0.42 0.48 0.37 0.58 0.43 0.51 0.54 0.51 0.42 0.46 0.49
Dec 31, 2021 0.40 0.38 0.42 0.35 0.58 0.40 0.52 0.46 0.45 0.63 0.41 0.56
Dec 31, 2020 0.39 0.30 0.36 0.29 0.53 0.36 0.47 0.52 0.28 0.50 0.47 0.53
Dec 31, 2019 0.37 0.37 0.20 0.29 0.57 0.36 0.52 0.55 0.31 0.53 0.44 0.50
Dec 31, 2018 0.34 0.55 0.64 0.42 0.56 0.34 0.53 0.51 0.34 0.57 0.43 0.49
Dec 31, 2017 0.27 0.40 0.62 0.39 0.51 0.37 0.49 0.46 0.31 0.67 0.37 0.70
Dec 31, 2016 0.28 0.39 0.58 0.37 0.55 0.53 0.51 0.42 0.31 0.70 0.40 0.59
Dec 31, 2015 0.29 0.43 0.52 0.43 0.56 0.62 0.53 0.39 0.29 0.73 0.41 0.41
Dec 31, 2014 0.28 0.72 0.47 0.54 0.53 0.71 0.57 0.43 0.29 0.73 0.39 0.25
Dec 31, 2013 0.28 0.64 0.42 0.55 0.66 0.48 0.54 0.42 0.30 0.71 0.41 0.52
Dec 31, 2012 0.31 0.68 0.49 0.55 0.66 0.44 0.55 0.45 0.32 0.66 0.46 0.55
Dec 31, 2011 0.31 — 0.64 0.54 0.72 0.47 0.57 0.46 0.36 0.34 0.44 0.64
Dec 31, 2010 0.34 — 0.63 0.59 0.74 0.64 0.60 0.43 0.35 0.42 0.51 0.08
Dec 31, 2009 0.36 — 0.61 0.57 0.80 0.67 0.65 0.24 0.23 0.51 0.47 0.05
Dec 31, 2008 0.40 — 0.70 0.73 0.70 0.72 0.75 0.51 0.43 0.36 0.50 0.18
Dec 31, 2007 0.41 — 0.74 0.63 0.70 0.64 0.75 0.50 0.42 0.13 0.46 0.33
Dec 31, 2006 0.41 — 0.70 0.75 0.71 0.63 0.76 0.51 0.42 0.11 0.18 0.23
Dec 31, 2005 0.41 — 0.68 0.87 0.60 0.48 0.87 0.49 0.44 0.16 0.62 0.29

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), 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, 2024 0.35 0.43
Dec 31, 2023 0.28 0.40
Dec 31, 2022 0.38 0.47
Dec 31, 2021 0.40 0.45
Dec 31, 2020 0.39 0.39
Dec 31, 2019 0.37 0.39
Dec 31, 2018 0.34 0.45
Dec 31, 2017 0.27 0.40
Dec 31, 2016 0.28 0.41
Dec 31, 2015 0.29 0.42
Dec 31, 2014 0.28 0.44
Dec 31, 2013 0.28 0.43
Dec 31, 2012 0.31 0.45
Dec 31, 2011 0.31 0.47
Dec 31, 2010 0.34 0.47
Dec 31, 2009 0.36 0.39
Dec 31, 2008 0.40 0.57
Dec 31, 2007 0.41 0.56
Dec 31, 2006 0.41 0.54
Dec 31, 2005 0.41 0.57

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), 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, 2024 0.35 0.75
Dec 31, 2023 0.28 0.73
Dec 31, 2022 0.38 0.75
Dec 31, 2021 0.40 0.70
Dec 31, 2020 0.39 0.64
Dec 31, 2019 0.37 0.65
Dec 31, 2018 0.34 0.68
Dec 31, 2017 0.27 0.66
Dec 31, 2016 0.28 0.67
Dec 31, 2015 0.29 0.64
Dec 31, 2014 0.28 0.69
Dec 31, 2013 0.28 0.67
Dec 31, 2012 0.31 0.67
Dec 31, 2011 0.31 0.69
Dec 31, 2010 0.34 0.68
Dec 31, 2009 0.36 0.63
Dec 31, 2008 0.40 0.80
Dec 31, 2007 0.41 0.77
Dec 31, 2006 0.41 0.74
Dec 31, 2005 0.41 0.72

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), 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).