Amgen annual debt-to-equity ratio
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2025
Amgen Debt-to-Equity Ratio Growth & History (AMGN)
Amgen's debt-to-equity ratio was 6.40 for fiscal 2025.
View full Amgen company overviewAmgen annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 6.40 | −3.96 | −38.19% |
| 2024 | 2024-12-31 | 10.36 | −0.14 | −1.32% |
| 2023 | 2023-12-31 | 10.50 | −0.33 | −3.05% |
| 2022 | 2022-12-31 | 10.83 | 5.76 | +113.50% |
| 2021 | 2021-12-31 | 5.07 | 1.52 | +42.68% |
| 2020 | 2020-12-31 | 3.55 | 0.41 | +12.99% |
| 2019 | 2019-12-31 | 3.15 | 0.43 | +15.90% |
| 2018 | 2018-12-31 | 2.71 | 1.31 | +93.85% |
| 2017 | 2017-12-31 | 1.40 | 0.24 | +20.91% |
| 2016 | 2016-12-31 | 1.16 | 0.04 | +3.47% |
| 2015 | 2015-12-31 | 1.12 | −0.07 | −6.07% |
| 2014 | 2014-12-31 | 1.19 | −0.26 | −18.05% |
| 2013 | 2013-12-31 | 1.45 | 0.06 | +4.47% |
| 2012 | 2012-12-31 | 1.39 | 0.27 | +23.60% |
| 2011 | 2011-12-31 | 1.13 | 0.67 | +147.96% |
| 2010 | 2010-12-31 | 0.45 | −0.01 | −2.90% |
| 2009 | 2009-12-31 | 0.47 | 0.26 | +129.45% |
| 2008 | 2008-12-31 | 0.20 | — | — |
Amgen quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 4.90 | −2.66 | −35.20% |
| Q1 2026 | 2026-03-31 | 6.24 | −3.01 | −32.53% |
| Q4 2025 | 2025-12-31 | 6.40 | −3.96 | −38.19% |
| Q3 2025 | 2025-09-30 | 5.67 | −2.35 | −29.28% |
| Q2 2025 | 2025-06-30 | 7.57 | −3.01 | −28.44% |
| Q1 2025 | 2025-03-31 | 9.24 | −3.50 | −27.48% |
| Q4 2024 | 2024-12-31 | 10.36 | −0.14 | −1.32% |
| Q3 2024 | 2024-09-30 | 8.02 | 0.13 | +1.60% |
| Q2 2024 | 2024-06-30 | 10.57 | 1.50 | +16.49% |
| Q1 2024 | 2024-03-31 | 12.75 | 1.23 | +10.68% |
| Q4 2023 | 2023-12-31 | 10.50 | −0.33 | −3.05% |
| Q3 2023 | 2023-09-30 | 7.90 | −2.70 | −25.46% |
| Q2 2023 | 2023-06-30 | 9.08 | −6.02 | −39.89% |
| Q1 2023 | 2023-03-31 | 11.52 | −28.72 | −71.37% |
| Q4 2022 | 2022-12-31 | 10.83 | 5.76 | +113.50% |
| Q3 2022 | 2022-09-30 | 10.60 | 6.02 | +131.67% |
| Q2 2022 | 2022-06-30 | 15.10 | — | — |
| Q1 2022 | 2022-03-31 | 40.23 | 36.73 | +1048.97% |
| Q4 2021 | 2021-12-31 | 5.07 | 1.52 | +42.68% |
| Q3 2021 | 2021-09-30 | 4.57 | 1.44 | +46.18% |
| Q1 2021 | 2021-03-31 | 3.50 | 0.14 | +4.29% |
| Q4 2020 | 2020-12-31 | 3.55 | 0.41 | +12.99% |
| Q3 2020 | 2020-09-30 | 3.13 | — | — |
| Q2 2020 | 2020-06-30 | 3.21 | 0.33 | +11.40% |
| Q1 2020 | 2020-03-31 | 3.36 | 0.26 | +8.53% |
| Q4 2019 | 2019-12-31 | 3.15 | 0.43 | +15.90% |
| Q2 2019 | 2019-06-30 | 2.88 | 0.57 | +24.57% |
| Q1 2019 | 2019-03-31 | 3.09 | 0.82 | +35.97% |
| Q4 2018 | 2018-12-31 | 2.71 | 1.31 | +93.85% |
| Q3 2018 | 2018-09-30 | 2.40 | 1.29 | +116.14% |
| Q2 2018 | 2018-06-30 | 2.31 | 1.21 | +109.34% |
| Q1 2018 | 2018-03-31 | 2.28 | 1.16 | +104.48% |
| Q4 2017 | 2017-12-31 | 1.40 | 0.24 | +20.91% |
| Q3 2017 | 2017-09-30 | 1.11 | −0.04 | −3.29% |
| Q2 2017 | 2017-06-30 | 1.11 | 0.00 | +0.25% |
| Q1 2017 | 2017-03-31 | 1.11 | −0.08 | −6.97% |
| Q4 2016 | 2016-12-31 | 1.16 | 0.04 | +3.47% |
| Q3 2016 | 2016-09-30 | 1.15 | 0.01 | +1.07% |
| Q2 2016 | 2016-06-30 | 1.10 | −0.06 | −5.17% |
| Q1 2016 | 2016-03-31 | 1.20 | 0.05 | +4.49% |
| Q4 2015 | 2015-12-31 | 1.12 | −0.07 | −6.07% |
| Q3 2015 | 2015-09-30 | 1.14 | −0.17 | −12.79% |
| Q2 2015 | 2015-06-30 | 1.16 | −0.20 | −14.95% |
| Q1 2015 | 2015-03-31 | 1.14 | −0.26 | −18.71% |
| Q4 2014 | 2014-12-31 | 1.19 | −0.26 | −18.05% |
| Q3 2014 | 2014-09-30 | 1.30 | 0.05 | +4.07% |
| Q2 2014 | 2014-06-30 | 1.37 | — | — |
| Q1 2014 | 2014-03-31 | 1.41 | 0.18 | +14.88% |
| Q4 2013 | 2013-12-31 | 1.45 | 0.06 | +4.47% |
| Q3 2013 | 2013-09-30 | 1.25 | — | — |
| Q1 2013 | 2013-03-31 | 1.23 | — | — |
| Q4 2012 | 2012-12-31 | 1.39 | 0.27 | +23.60% |
| Q4 2011 | 2011-12-31 | 1.13 | 0.67 | +147.96% |
| Q1 2011 | 2011-03-31 | 0.43 | 0.33 | +339.71% |
| Q4 2010 | 2010-12-31 | 0.45 | −0.01 | −2.90% |
| Q3 2010 | 2010-09-30 | 0.45 | 0.26 | +131.50% |
| Q2 2010 | 2010-06-30 | 0.40 | 0.20 | +95.99% |
| Q1 2010 | 2010-03-31 | 0.10 | — | — |
| Q4 2009 | 2009-12-31 | 0.47 | 0.26 | +129.45% |
| Q3 2009 | 2009-09-30 | 0.19 | — | — |
| Q2 2009 | 2009-06-30 | 0.21 | — | — |
| Q4 2008 | 2008-12-31 | 0.20 | — | — |
Amgen debt-to-equity ratio trends
Over the last five fiscal years, Amgen's debt-to-equity ratio increased from 3.55 to 6.40, a change of 2.85. The latest reported quarter, Q2 2026, shows 4.90.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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