Stock Analysis on Net

Amgen Inc. (NASDAQ:AMGN)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Amgen Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 4.53 4.57 4.69 4.96 4.51
Net fixed asset turnover (including operating lease, right-of-use asset) 4.08 4.13 4.23 4.58 4.11
Total asset turnover 0.28 0.38 0.40 0.39 0.37
Equity turnover 4.32 6.77 3.63 2.58 2.30

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Amgen Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Amgen Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Amgen Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Amgen Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Net Fixed Asset Turnover

Amgen Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Product sales 26,910 24,801 24,297 24,240 22,204
Property, plant and equipment, net 5,941 5,427 5,184 4,889 4,928
Long-term Activity Ratio
Net fixed asset turnover1 4.53 4.57 4.69 4.96 4.51
Benchmarks
Net Fixed Asset Turnover, Competitors2
AbbVie Inc. 10.89 11.76 11.00 8.73 11.23
Bristol-Myers Squibb Co. 6.77 7.38 7.67 7.22 4.18
Eli Lilly & Co. 2.64 2.81 3.15 2.83 2.83
Gilead Sciences Inc. 5.07 4.93 5.27 4.90 4.91
Johnson & Johnson 4.28 4.79 4.95 4.40 4.65
Merck & Co. Inc. 2.61 2.77 2.53 2.67 3.11
Pfizer Inc. 3.09 6.17 5.46 3.01 3.71
Regeneron Pharmaceuticals Inc. 3.16 3.23 4.62 2.64 2.72
Thermo Fisher Scientific Inc. 4.54 4.84 4.71 5.45 5.38
Vertex Pharmaceuticals Inc. 8.51 8.06 6.92 6.47 5.59
Net Fixed Asset Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences 4.06 4.86 4.86 4.21 4.22
Net Fixed Asset Turnover, Industry
Health Care 10.19 10.62 10.38 9.62 9.72

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Product sales ÷ Property, plant and equipment, net
= 26,910 ÷ 5,941 = 4.53

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Amgen Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Amgen Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Product sales 26,910 24,801 24,297 24,240 22,204
 
Property, plant and equipment, net 5,941 5,427 5,184 4,889 4,928
Operating lease right-of-use (ROU) assets (included in Other noncurrent assets) 651 579 566 408 469
Property, plant and equipment, net (including operating lease, right-of-use asset) 6,592 6,006 5,750 5,297 5,397
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.08 4.13 4.23 4.58 4.11
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
AbbVie Inc. 9.47 10.24 9.57 7.46 10.06
Bristol-Myers Squibb Co. 5.60 6.18 6.66 6.30 3.76
Eli Lilly & Co. 2.43 2.63 2.93 2.63 2.66
Gilead Sciences Inc. 4.57 4.51 4.77 4.34 4.28
Johnson & Johnson 4.07 4.54 4.72 4.18 4.41
Merck & Co. Inc. 2.45 2.60 2.33 2.43 2.90
Pfizer Inc. 2.68 5.20 4.59 2.74 3.39
Regeneron Pharmaceuticals Inc. 3.11 3.17 4.52 2.58 2.66
Thermo Fisher Scientific Inc. 3.89 4.13 3.98 4.82 4.69
Vertex Pharmaceuticals Inc. 6.79 6.13 5.32 4.83 5.00
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Pharmaceuticals, Biotechnology & Life Sciences 3.68 4.39 4.37 3.84 3.89
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Health Care 8.32 8.55 8.22 7.54 7.63

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Product sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 26,910 ÷ 6,592 = 4.08

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Amgen Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023.

Total Asset Turnover

Amgen Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Product sales 26,910 24,801 24,297 24,240 22,204
Total assets 97,154 65,121 61,165 62,948 59,707
Long-term Activity Ratio
Total asset turnover1 0.28 0.38 0.40 0.39 0.37
Benchmarks
Total Asset Turnover, Competitors2
AbbVie Inc. 0.40 0.42 0.38 0.30 0.37
Bristol-Myers Squibb Co. 0.47 0.48 0.42 0.36 0.20
Eli Lilly & Co. 0.53 0.58 0.58 0.53 0.57
Gilead Sciences Inc. 0.43 0.43 0.40 0.36 0.36
Johnson & Johnson 0.51 0.51 0.52 0.47 0.52
Merck & Co. Inc. 0.56 0.54 0.46 0.52 0.55
Pfizer Inc. 0.26 0.51 0.45 0.27 0.31
Regeneron Pharmaceuticals Inc. 0.40 0.42 0.63 0.50 0.53
Thermo Fisher Scientific Inc. 0.43 0.46 0.41 0.47 0.44
Vertex Pharmaceuticals Inc. 0.43 0.49 0.56 0.53 0.50
Total Asset Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.41 0.48 0.45 0.39 0.40
Total Asset Turnover, Industry
Health Care 0.80 0.81 0.76 0.70 0.71

Based on: 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).

1 2023 Calculation
Total asset turnover = Product sales ÷ Total assets
= 26,910 ÷ 97,154 = 0.28

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Amgen Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

Amgen Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Product sales 26,910 24,801 24,297 24,240 22,204
Stockholders’ equity 6,232 3,661 6,700 9,409 9,673
Long-term Activity Ratio
Equity turnover1 4.32 6.77 3.63 2.58 2.30
Benchmarks
Equity Turnover, Competitors2
AbbVie Inc. 5.24 3.36 3.65 3.50
Bristol-Myers Squibb Co. 1.53 1.49 1.29 1.12 0.51
Eli Lilly & Co. 3.17 2.68 3.15 4.35 8.56
Gilead Sciences Inc. 1.18 1.27 1.28 1.34 0.98
Johnson & Johnson 1.24 1.24 1.27 1.31 1.38
Merck & Co. Inc. 1.60 1.29 1.28 1.90 1.81
Pfizer Inc. 0.66 1.05 1.05 0.66 0.82
Regeneron Pharmaceuticals Inc. 0.51 0.54 0.86 0.77 0.71
Thermo Fisher Scientific Inc. 0.92 1.02 0.96 0.93 0.86
Vertex Pharmaceuticals Inc. 0.56 0.64 0.75 0.71 0.68
Equity Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences 1.25 1.32 1.35 1.31 1.26
Equity Turnover, Industry
Health Care 2.22 2.17 2.10 2.06 2.06

Based on: 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).

1 2023 Calculation
Equity turnover = Product sales ÷ Stockholders’ equity
= 26,910 ÷ 6,232 = 4.32

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Amgen Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.