Stock Analysis on Net
Stock Analysis on Net

Amgen Inc. (NASDAQ:AMGN)

Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability Ratios (Summary)

Amgen Inc., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Return on Sales
Gross profit margin 74.59% 75.55% 77.15% 78.90% 80.38% 81.19% 81.23% 81.26% 81.80% 81.61% 81.78% 81.69% 81.33% 81.37% 81.26% 81.05% 80.99%
Operating profit margin 37.70% 38.59% 39.76% 41.89% 43.57% 44.83% 44.05% 44.53% 45.55% 45.82% 46.46% 46.07% 45.76% 46.66% 46.93% 45.68% 44.74%
Net profit margin 29.97% 30.91% 31.53% 33.64% 35.32% 36.14% 35.57% 35.93% 37.25% 9.96% 10.72% 10.11% 9.08% 37.36% 37.24% 36.12% 35.27%
Return on Investment
Return on equity (ROE) 77.20% 67.09% 68.48% 80.92% 81.07% 73.83% 73.73% 74.55% 67.15% 15.35% 15.86% 14.21% 7.84% 25.37% 25.77% 25.76% 25.85%
Return on assets (ROA) 11.54% 11.37% 11.23% 12.45% 13.13% 13.55% 13.40% 12.62% 12.64% 3.27% 3.49% 3.12% 2.48% 10.18% 10.27% 10.14% 9.95%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Amgen Inc.’s gross profit margin ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Amgen Inc.’s operating profit margin ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Amgen Inc.’s net profit margin ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Amgen Inc.’s ROE deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.
ROA A profitability ratio calculated as net income divided by total assets. Amgen Inc.’s ROA improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Gross Profit Margin

Amgen Inc., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Gross profit from product sales 4,737  4,543  4,420  4,381  4,628  4,427  4,562  4,231  4,905  4,473  4,655  4,399  4,510  4,463  4,550  4,203  4,596  4,489  4,424  4,221 
Product sales 6,334  6,104  5,908  5,894  5,881  5,463  5,574  5,286  6,001  5,510  5,679  5,343  5,569  5,453  5,574  5,199  5,663  5,516  5,474  5,239 
Profitability Ratio
Gross profit margin1 74.59% 75.55% 77.15% 78.90% 80.38% 81.19% 81.23% 81.26% 81.80% 81.61% 81.78% 81.69% 81.33% 81.37% 81.26% 81.05% 80.99%
Benchmarks
Gross Profit Margin, Competitors2
Abbott Laboratories 50.49% 50.18% 50.97% 52.13% 52.46% 52.39% 52.17% 51.57% 51.32% 50.57% 50.38% 49.39% 47.75% 48.59% 49.21% 51.32% 54.09%
AbbVie Inc. 66.41% 68.74% 73.56% 77.43% 77.64% 77.32% 77.41% 77.07% 76.44% 75.22% 74.93% 75.18% 75.05% 76.85% 76.78% 76.81% 77.25%
Bristol-Myers Squibb Co. 72.31% 71.18% 69.47% 68.02% 69.10% 69.90% 70.10% 70.86% 70.98% 70.37% 70.12% 69.62% 70.80% 71.92% 72.78% 74.19% 74.54%
Eli Lilly & Co. 77.66% 78.26% 78.67% 79.22% 78.85% 77.78% 76.67% 74.96% 73.81% 73.39% 72.92% 72.95% 73.46% 73.69% 73.89% 73.78% 73.35%
Gilead Sciences Inc. 81.23% 78.72% 78.25% 79.06% 78.86% 79.27% 78.98% 78.02% 77.61% 79.21% 80.31% 81.82% 82.97% 84.51% 84.71% 85.95% 85.77%
Illumina Inc. 68.01% 69.02% 70.34% 70.36% 69.63% 69.24% 68.84% 69.06% 69.01% 69.44% 68.85% 67.98% 66.35% 65.68% 66.26% 67.53% 69.48%
Johnson & Johnson 65.58% 65.68% 65.66% 66.15% 66.42% 66.49% 66.67% 66.80% 66.79% 66.36% 65.69% 66.22% 66.84% 68.20% 69.35% 69.88% 69.84%
Merck & Co. Inc. 67.74% 71.23% 70.06% 70.11% 69.87% 70.13% 69.89% 68.94% 68.06% 67.35% 67.81% 68.22% 68.16% 68.09% 67.92% 66.61% 65.10%
Pfizer Inc. 79.26% 79.86% 79.94% 79.94% 80.25% 79.85% 79.91% 79.36% 79.03% 78.58% 78.24% 78.48% 78.61% 78.66% 78.15% 77.28% 76.66%
Regeneron Pharmaceuticals Inc. 86.82% 87.98% 88.21% 89.72% 90.05% 91.14% 92.27% 92.79% 93.53% 93.36% 93.28% 92.95% 93.24% 93.37% 94.16% 94.53% 93.83%
Vertex Pharmaceuticals Inc. 88.14% 88.01% 87.71% 87.24% 86.84% 86.60% 86.56% 86.74% 86.56% 86.88% 87.31% 87.59% 88.95% 89.04% 89.08% 89.76% 87.64%
Zoetis Inc. 69.18% 69.64% 69.73% 69.51% 68.18% 67.38% 66.92% 66.49% 67.19% 68.12% 68.04% 67.31% 66.55% 65.14% 64.91% 65.30% 65.92%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02).

1 Q4 2020 Calculation
Gross profit margin = 100 × (Gross profit from product salesQ4 2020 + Gross profit from product salesQ3 2020 + Gross profit from product salesQ2 2020 + Gross profit from product salesQ1 2020) ÷ (Product salesQ4 2020 + Product salesQ3 2020 + Product salesQ2 2020 + Product salesQ1 2020)
= 100 × (4,737 + 4,543 + 4,420 + 4,381) ÷ (6,334 + 6,104 + 5,908 + 5,894) = 74.59%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Amgen Inc.’s gross profit margin ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Operating Profit Margin

Amgen Inc., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Operating income 2,008  2,453  2,323  2,355  2,048  2,476  2,678  2,472  2,382  2,323  2,832  2,726  2,245  2,439  2,698  2,591  2,485  2,527  2,380  2,402 
Product sales 6,334  6,104  5,908  5,894  5,881  5,463  5,574  5,286  6,001  5,510  5,679  5,343  5,569  5,453  5,574  5,199  5,663  5,516  5,474  5,239 
Profitability Ratio
Operating profit margin1 37.70% 38.59% 39.76% 41.89% 43.57% 44.83% 44.05% 44.53% 45.55% 45.82% 46.46% 46.07% 45.76% 46.66% 46.93% 45.68% 44.74%
Benchmarks
Operating Profit Margin, Competitors2
Abbott Laboratories 15.48% 13.39% 12.78% 14.18% 14.21% 13.74% 13.27% 12.31% 11.94% 10.45% 10.11% 8.92% 6.30% 7.89% 8.77% 11.03% 15.27%
AbbVie Inc. 24.81% 28.45% 30.17% 39.86% 39.03% 20.04% 21.85% 19.88% 19.49% 32.99% 32.84% 34.03% 33.99% 37.24% 36.74% 36.33% 36.60%
Bristol-Myers Squibb Co. -21.60% 9.27% 11.67% 16.30% 22.62% 28.63% 28.59% 23.43% 22.69% 18.64% 15.93% 17.50% 17.39% 19.71% 21.73% 24.06% 23.83%
Eli Lilly & Co. 24.69% 23.55% 24.48% 25.64% 22.29% 20.00% 19.48% 12.50% 15.15% 12.34% 9.11% 14.88% 9.38% 12.43% 14.23% 12.92% 16.30%
Gilead Sciences Inc. 16.72% 11.01% -4.40% 19.89% 19.38% 19.71% 38.44% 37.87% 37.83% 42.81% 46.25% 51.51% 55.04% 58.72% 58.71% 58.46% 58.87%
Illumina Inc. 17.91% 22.08% 25.69% 27.28% 27.80% 26.42% 24.88% 25.58% 26.49% 28.25% 27.58% 26.29% 22.02% 20.01% 20.06% 21.35% 24.48%
Johnson & Johnson 23.60% 24.30% 24.64% 25.62% 24.15% 24.15% 22.63% 22.69% 24.27% 22.59% 23.05% 23.63% 24.07% 27.02% 28.55% 28.83% 28.72%
Merck & Co. Inc. 16.47% 26.87% 25.40% 25.49% 24.77% 25.56% 26.73% 24.38% 19.62% 17.84% 12.28% 13.57% 16.28% 9.92% 16.85% 14.45% 13.51%
Pfizer Inc. 19.47% 24.77% 23.75% 25.38% 25.46% 26.30% 27.50% 26.86% 26.10% 26.18% 26.00% 25.86% 25.92% 24.69% 23.57% 22.94% 22.73%
Regeneron Pharmaceuticals Inc. 42.09% 37.43% 34.64% 30.45% 28.10% 29.55% 29.58% 35.41% 37.77% 37.00% 36.89% 36.54% 35.41% 34.22% 32.29% 28.76% 27.38%
Vertex Pharmaceuticals Inc. 46.03% 44.43% 38.67% 34.05% 28.77% 21.38% 25.48% 23.98% 20.84% 22.38% 3.87% -0.77% 4.95% 1.62% 16.16% 14.62% 0.58%
Zoetis Inc. 33.62% 33.87% 33.36% 32.72% 31.42% 31.01% 29.80% 30.05% 31.12% 33.00% 33.86% 33.02% 32.15% 29.43% 28.34% 28.55% 28.48%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02).

1 Q4 2020 Calculation
Operating profit margin = 100 × (Operating incomeQ4 2020 + Operating incomeQ3 2020 + Operating incomeQ2 2020 + Operating incomeQ1 2020) ÷ (Product salesQ4 2020 + Product salesQ3 2020 + Product salesQ2 2020 + Product salesQ1 2020)
= 100 × (2,008 + 2,453 + 2,323 + 2,355) ÷ (6,334 + 6,104 + 5,908 + 5,894) = 37.70%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Amgen Inc.’s operating profit margin ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Net Profit Margin

Amgen Inc., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net income 1,615  2,021  1,803  1,825  1,703  1,968  2,179  1,992  1,928  1,859  2,296  2,311  (4,264) 2,021  2,151  2,071  1,935  2,017  1,870  1,900 
Product sales 6,334  6,104  5,908  5,894  5,881  5,463  5,574  5,286  6,001  5,510  5,679  5,343  5,569  5,453  5,574  5,199  5,663  5,516  5,474  5,239 
Profitability Ratio
Net profit margin1 29.97% 30.91% 31.53% 33.64% 35.32% 36.14% 35.57% 35.93% 37.25% 9.96% 10.72% 10.11% 9.08% 37.36% 37.24% 36.12% 35.27%
Benchmarks
Net Profit Margin, Competitors2
Abbott Laboratories 12.99% 10.50% 9.89% 11.15% 11.56% 10.50% 9.36% 8.53% 7.74% 2.91% 3.13% 1.67% 1.74% 8.37% 4.96% 6.74% 6.71%
AbbVie Inc. 10.08% 18.16% 19.20% 24.77% 23.69% 9.90% 12.62% 16.42% 17.36% 23.50% 20.84% 21.55% 18.82% 24.38% 24.77% 24.07% 23.22%
Bristol-Myers Squibb Co. -21.20% -0.11% -1.61% 3.08% 13.15% 23.39% 26.00% 22.09% 21.81% 6.50% 1.74% 4.37% 4.85% 20.56% 22.66% 24.22% 22.94%
Eli Lilly & Co. 25.24% 24.01% 24.48% 23.97% 37.27% 35.10% 33.76% 26.12% 13.16% 1.85% -0.60% 4.82% -0.89% 9.90% 11.12% 10.13% 12.90%
Gilead Sciences Inc. 0.51% 5.56% -1.18% 22.17% 24.35% 12.24% 27.14% 26.93% 25.16% 7.27% 9.69% 14.26% 18.03% 42.90% 43.55% 44.11% 45.07%
Illumina Inc. 20.25% 19.70% 20.68% 26.49% 28.28% 28.13% 27.55% 25.05% 24.78% 21.09% 20.88% 19.31% 26.38% 30.14% 30.07% 30.52% 19.29%
Johnson & Johnson 17.82% 21.01% 18.86% 20.75% 18.42% 17.32% 20.08% 17.99% 18.75% 1.89% 1.70% 1.58% 1.70% 21.28% 22.52% 22.87% 23.01%
Merck & Co. Inc. 14.72% 24.33% 22.20% 21.10% 21.01% 20.26% 21.10% 19.50% 14.71% 8.02% 3.25% 3.88% 5.97% 7.15% 12.71% 10.88% 9.85%
Pfizer Inc. 22.95% 17.85% 28.80% 31.17% 31.45% 30.57% 23.58% 21.31% 20.79% 44.63% 42.35% 41.29% 40.55% 18.69% 15.90% 13.88% 13.66%
Regeneron Pharmaceuticals Inc. 41.35% 38.28% 37.30% 28.56% 26.91% 28.13% 28.59% 35.12% 36.42% 28.24% 25.65% 23.54% 20.41% 23.17% 22.05% 19.34% 18.42%
Vertex Pharmaceuticals Inc. 43.70% 44.91% 38.51% 31.35% 28.27% 59.23% 64.13% 66.01% 68.80% 22.87% 15.84% 9.36% 10.59% 8.53% 12.19% 8.78% -6.58%
Zoetis Inc. 24.54% 25.42% 25.50% 25.41% 23.96% 23.76% 22.74% 23.47% 24.52% 20.35% 19.95% 17.97% 16.28% 18.29% 17.50% 17.25% 16.80%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02).

1 Q4 2020 Calculation
Net profit margin = 100 × (Net incomeQ4 2020 + Net incomeQ3 2020 + Net incomeQ2 2020 + Net incomeQ1 2020) ÷ (Product salesQ4 2020 + Product salesQ3 2020 + Product salesQ2 2020 + Product salesQ1 2020)
= 100 × (1,615 + 2,021 + 1,803 + 1,825) ÷ (6,334 + 6,104 + 5,908 + 5,894) = 29.97%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Amgen Inc.’s net profit margin ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Return on Equity (ROE)

Amgen Inc., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net income 1,615  2,021  1,803  1,825  1,703  1,968  2,179  1,992  1,928  1,859  2,296  2,311  (4,264) 2,021  2,151  2,071  1,935  2,017  1,870  1,900 
Stockholders’ equity 9,409  10,959  10,659  9,485  9,673  10,927  10,794  10,832  12,500  14,349  14,909  15,620  25,241  32,229  31,722  30,637  29,875  30,773  30,133  28,682 
Profitability Ratio
ROE1 77.20% 67.09% 68.48% 80.92% 81.07% 73.83% 73.73% 74.55% 67.15% 15.35% 15.86% 14.21% 7.84% 25.37% 25.77% 25.76% 25.85%
Benchmarks
ROE, Competitors2
Abbott Laboratories 13.71% 10.78% 10.17% 11.84% 11.86% 10.35% 9.14% 8.48% 7.76% 2.89% 3.03% 1.52% 1.54% 6.57% 3.71% 4.79% 6.82%
AbbVie Inc. 35.30% 48.34% 47.30% 179.59% 104.16% 99.42% 110.08% 126.25% 128.41%
Bristol-Myers Squibb Co. -23.84% -0.09% -1.15% 1.91% 6.66% 32.04% 38.65% 33.80% 35.07% 10.50% 3.05% 7.18% 8.58% 28.61% 31.20% 33.55% 27.55%
Eli Lilly & Co. 109.79% 115.45% 137.26% 179.72% 319.09% 234.97% 282.08% 252.24% 32.88% 3.44% -1.24% 7.74% -1.76% 14.94% 17.35% 15.58% 19.54%
Gilead Sciences Inc. 0.68% 7.27% -1.43% 22.49% 23.91% 13.07% 26.33% 26.84% 25.51% 6.94% 10.19% 16.82% 22.64% 46.69% 53.86% 61.82% 71.48%
Illumina Inc. 13.98% 13.57% 15.19% 20.32% 21.72% 21.92% 21.65% 21.36% 21.98% 19.53% 19.90% 18.85% 26.41% 27.38% 27.54% 29.01% 21.06%
Johnson & Johnson 23.25% 26.35% 24.11% 28.01% 25.42% 24.31% 26.87% 24.90% 25.60% 2.39% 2.18% 1.97% 2.16% 21.39% 22.71% 23.46% 23.49%
Merck & Co. Inc. 27.91% 39.47% 37.91% 38.72% 37.99% 34.70% 33.88% 30.50% 23.30% 10.32% 4.12% 4.69% 6.97% 7.44% 12.89% 10.91% 9.78%
Pfizer Inc. 15.21% 13.31% 22.02% 24.28% 25.77% 24.91% 21.24% 19.52% 17.59% 33.40% 32.31% 29.72% 29.88% 16.14% 14.26% 12.49% 12.12%
Regeneron Pharmaceuticals Inc. 31.86% 31.17% 32.94% 18.79% 19.08% 20.41% 21.21% 25.70% 27.91% 22.85% 22.14% 21.74% 19.51% 21.12% 20.91% 19.79% 20.13%
Vertex Pharmaceuticals Inc. 31.22% 33.08% 27.67% 23.38% 19.34% 40.81% 43.70% 45.63% 47.28% 22.27% 15.46% 9.41% 12.99% 10.93% 15.55% 11.82% -9.69%
Zoetis Inc. 43.46% 46.17% 54.23% 58.52% 55.39% 54.56% 57.03% 59.91% 65.35% 54.96% 56.60% 49.90% 48.81% 47.11% 51.20% 53.14% 55.21%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02).

1 Q4 2020 Calculation
ROE = 100 × (Net incomeQ4 2020 + Net incomeQ3 2020 + Net incomeQ2 2020 + Net incomeQ1 2020) ÷ Stockholders’ equity
= 100 × (1,615 + 2,021 + 1,803 + 1,825) ÷ 9,409 = 77.20%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Amgen Inc.’s ROE deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.

Return on Assets (ROA)

Amgen Inc., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net income 1,615  2,021  1,803  1,825  1,703  1,968  2,179  1,992  1,928  1,859  2,296  2,311  (4,264) 2,021  2,151  2,071  1,935  2,017  1,870  1,900 
Total assets 62,948  64,637  65,011  61,669  59,707  59,535  59,373  63,997  66,416  67,333  67,684  71,164  79,954  80,331  79,587  77,862  77,626  78,150  75,471  75,116 
Profitability Ratio
ROA1 11.54% 11.37% 11.23% 12.45% 13.13% 13.55% 13.40% 12.62% 12.64% 3.27% 3.49% 3.12% 2.48% 10.18% 10.27% 10.14% 9.95%
Benchmarks
ROA, Competitors2
Abbott Laboratories 6.20% 4.90% 4.52% 5.36% 5.43% 4.80% 4.23% 3.88% 3.53% 1.24% 1.35% 0.67% 0.63% 2.91% 1.65% 2.12% 2.66%
AbbVie Inc. 3.07% 4.93% 4.65% 9.25% 8.84% 5.48% 7.21% 9.44% 9.58% 11.43% 10.46% 9.20% 7.50% 9.66% 9.87% 9.61% 9.01%
Bristol-Myers Squibb Co. -7.61% -0.04% -0.44% 0.74% 2.65% 9.85% 11.24% 14.77% 14.06% 4.24% 1.15% 2.78% 3.00% 12.45% 13.73% 14.68% 13.22%
Eli Lilly & Co. 13.28% 12.68% 13.39% 13.46% 21.17% 20.97% 20.28% 16.46% 7.36% 1.01% -0.34% 2.53% -0.45% 5.17% 5.98% 5.81% 7.05%
Gilead Sciences Inc. 0.18% 2.08% -0.46% 8.31% 8.74% 4.55% 9.42% 9.38% 8.57% 2.47% 3.38% 5.30% 6.58% 17.94% 20.27% 21.90% 23.70%
Illumina Inc. 8.65% 8.62% 9.56% 12.97% 13.70% 13.73% 13.45% 11.52% 11.87% 10.12% 11.08% 10.23% 13.81% 15.49% 15.39% 16.10% 10.81%
Johnson & Johnson 8.41% 9.95% 9.59% 11.07% 9.59% 9.10% 10.53% 9.78% 10.00% 0.99% 0.88% 0.79% 0.83% 10.17% 10.69% 11.39% 11.71%
Merck & Co. Inc. 7.72% 12.83% 11.56% 11.95% 11.66% 11.18% 11.15% 10.20% 7.53% 3.93% 1.58% 1.84% 2.72% 3.11% 5.48% 4.50% 4.11%
Pfizer Inc. 6.23% 4.85% 7.96% 9.49% 9.72% 9.51% 8.10% 7.38% 7.00% 14.19% 13.67% 13.21% 12.40% 5.70% 4.94% 4.32% 4.20%
Regeneron Pharmaceuticals Inc. 20.47% 19.62% 20.68% 14.46% 14.29% 15.38% 15.71% 18.88% 20.83% 16.64% 15.99% 15.23% 13.67% 14.69% 14.24% 12.32% 12.84%
Vertex Pharmaceuticals Inc. 23.07% 23.81% 20.37% 16.99% 14.15% 28.53% 31.50% 32.94% 33.57% 14.00% 9.58% 5.72% 7.43% 6.12% 7.91% 6.02% -3.87%
Zoetis Inc. 12.04% 12.12% 12.37% 13.97% 12.99% 12.96% 12.52% 12.75% 13.25% 11.13% 12.96% 11.25% 10.06% 10.09% 11.25% 11.18% 10.73%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02).

1 Q4 2020 Calculation
ROA = 100 × (Net incomeQ4 2020 + Net incomeQ3 2020 + Net incomeQ2 2020 + Net incomeQ1 2020) ÷ Total assets
= 100 × (1,615 + 2,021 + 1,803 + 1,825) ÷ 62,948 = 11.54%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Amgen Inc.’s ROA improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.