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Forensic Analysis · Pharmaceuticals & Biotechnology · as of Nov 9, 2026

Amgen Inc (AMGN)

A forensic read on Amgen Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution
Forensic grade
Distress
Financial health
0.1
Distress distance
1
Forensic signals
106.1%
ROE
10.0%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Amgen Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.1, placing it in the Distress zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

12.9%
FY2025
Return on invested capital. Return on invested capital is 12.9% in the latest fiscal year and rising across FY2023–FY2025 from 9.7%. After-tax operating profit was $6.8B in FY2023 and $7.8B in FY2025, with operating income at 28.0% of revenue in FY2023, 21.7% in FY2024 and 24.7% in FY2025. The capital base behind it came down -13% across FY2023–FY2025, from $69.3B to $60.4B, so this return is struck on a smaller base than it started on.

Key fundamentals

Latest Revenue$36.75B
Revenue Growth YoY+10.0%
Revenue CAGR (2yr)+14.2%
Net Margin21.0%
Free Cash Flow$8.10B
Return on Equity106.1%
Debt / Equity6.31x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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