Amgen annual free cash flow
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2025
Amgen Free Cash Flow (FCF) History (AMGN)
Amgen reported $8.10B in free cash flow for fiscal 2025, a decrease of 22.07% from the previous fiscal year, with a free cash flow margin of 22.04%.
View full Amgen company overviewAmgen free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $8.10B | −$2.29B | −22.07% | +22.04% |
| 2024 | 2024-12-31 | $10.39B | $3.04B | +41.24% | +31.10% |
| 2023 | 2023-12-31 | $7.36B | −$1.43B | −16.23% | +26.11% |
| 2022 | 2022-12-31 | $8.79B | $404.0M | +4.82% | +33.37% |
| 2021 | 2021-12-31 | $8.38B | −$1.51B | −15.25% | +32.26% |
| 2020 | 2020-12-31 | $9.89B | $1.36B | +15.90% | +38.90% |
| 2019 | 2019-12-31 | $8.53B | −$2.03B | −19.19% | +36.52% |
| 2018 | 2018-12-31 | $10.56B | $45.0M | +0.43% | +44.46% |
| 2017 | 2017-12-31 | $10.51B | $897.0M | +9.33% | +46.01% |
| 2016 | 2016-12-31 | $9.62B | $479.0M | +5.24% | +41.83% |
| 2015 | 2015-12-31 | $9.14B | $903.0M | +10.97% | +42.18% |
| 2014 | 2014-12-31 | $8.23B | $2.64B | +47.09% | +41.04% |
| 2013 | 2013-12-31 | $5.60B | $405.0M | +7.80% | +29.97% |
| 2012 | 2012-12-31 | $5.19B | $641.0M | +14.08% | +30.08% |
| 2011 | 2011-12-31 | $4.55B | −$655.0M | −12.58% | +29.21% |
| 2010 | 2010-12-31 | $5.21B | −$599.0M | −10.32% | +34.59% |
| 2009 | 2009-12-31 | $5.81B | $490.0M | +9.22% | +39.65% |
| 2008 | 2008-12-31 | $5.32B | $1.18B | +28.59% | +35.43% |
| 2007 | 2007-12-31 | $4.13B | — | — | +27.99% |
Amgen quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $3.49B | $1.58B | +82.57% | +34.70% |
| Q1 2026 | 2026-03-31 | $1.48B | $497.0M | +50.71% | +17.14% |
| Q4 2025 | 2025-12-31 | $961.0M | −$3.44B | −78.16% | +9.74% |
| Q3 2025 | 2025-09-30 | $4.25B | $934.0M | +28.18% | +44.45% |
| Q2 2025 | 2025-06-30 | $1.91B | −$310.0M | −13.96% | +20.82% |
| Q1 2025 | 2025-03-31 | $980.0M | $521.0M | +113.51% | +12.03% |
| Q4 2024 | 2024-12-31 | $4.40B | $4.11B | +1422.49% | +48.43% |
| Q3 2024 | 2024-09-30 | $3.31B | $802.0M | +31.93% | +38.97% |
| Q2 2024 | 2024-06-30 | $2.22B | −$1.62B | −42.13% | +26.48% |
| Q1 2024 | 2024-03-31 | $459.0M | −$261.0M | −36.25% | +6.16% |
| Q4 2023 | 2023-12-31 | $289.0M | −$2.02B | −87.48% | +3.53% |
| Q3 2023 | 2023-09-30 | $2.51B | −$306.0M | −10.86% | +36.39% |
| Q2 2023 | 2023-06-30 | $3.84B | $2.15B | +127.91% | +54.94% |
| Q1 2023 | 2023-03-31 | $720.0M | −$1.25B | −63.53% | +11.79% |
| Q4 2022 | 2022-12-31 | $2.31B | −$212.0M | −8.41% | +33.76% |
| Q3 2022 | 2022-09-30 | $2.82B | $642.0M | +29.50% | +42.36% |
| Q2 2022 | 2022-06-30 | $1.68B | −$62.0M | −3.55% | +25.54% |
| Q1 2022 | 2022-03-31 | $1.97B | $36.0M | +1.86% | +31.64% |
| Q4 2021 | 2021-12-31 | $2.52B | $541.0M | +27.32% | +36.82% |
| Q3 2021 | 2021-09-30 | $2.18B | −$1.06B | −32.69% | +32.45% |
| Q2 2021 | 2021-06-30 | $1.75B | −$938.0M | −34.95% | +26.75% |
| Q1 2021 | 2021-03-31 | $1.94B | −$54.0M | −2.71% | +32.84% |
| Q4 2020 | 2020-12-31 | $1.98B | −$346.0M | −14.88% | +29.85% |
| Q3 2020 | 2020-09-30 | $3.23B | $26.0M | +0.81% | +50.33% |
| Q2 2020 | 2020-06-30 | $2.68B | $1.41B | +111.34% | +43.25% |
| Q1 2020 | 2020-03-31 | $1.99B | $263.0M | +15.21% | +32.33% |
| Q4 2019 | 2019-12-31 | $2.33B | −$643.0M | −21.66% | +37.53% |
| Q3 2019 | 2019-09-30 | $3.21B | $105.0M | +3.38% | +55.90% |
| Q2 2019 | 2019-06-30 | $1.27B | −$645.0M | −33.68% | +21.63% |
| Q1 2019 | 2019-03-31 | $1.73B | −$843.0M | −32.78% | +31.11% |
| Q4 2018 | 2018-12-31 | $2.97B | $110.0M | +3.85% | +47.66% |
| Q3 2018 | 2018-09-30 | $3.10B | −$194.0M | −5.89% | +52.54% |
| Q2 2018 | 2018-06-30 | $1.92B | −$226.0M | −10.56% | +31.61% |
| Q1 2018 | 2018-03-31 | $2.57B | $355.0M | +16.01% | +46.31% |
| Q4 2017 | 2017-12-31 | $2.86B | — | — | +51.34% |
| Q3 2017 | 2017-09-30 | $3.30B | $801.0M | +32.10% | +57.09% |
| Q2 2017 | 2017-06-30 | $2.14B | −$348.0M | −13.98% | +36.85% |
| Q1 2017 | 2017-03-31 | $2.22B | $458.0M | +26.04% | +40.57% |
| Q3 2016 | 2016-09-30 | $2.50B | −$259.0M | −9.40% | +42.94% |
| Q2 2016 | 2016-06-30 | $2.49B | −$662.0M | −21.01% | +43.76% |
| Q1 2016 | 2016-03-31 | $1.76B | $395.0M | +28.96% | +31.83% |
| Q4 2015 | 2015-12-31 | $1.87B | — | — | +35.05% |
| Q3 2015 | 2015-09-30 | $2.75B | $183.0M | +7.12% | +48.12% |
| Q2 2015 | 2015-06-30 | $3.15B | $1.10B | +53.41% | +58.68% |
| Q1 2015 | 2015-03-31 | $1.36B | $394.0M | +40.62% | +27.10% |
| Q3 2014 · Sep 30 | 2014-09-30 | $2.57B | $939.0M | +57.54% | +51.10% |
| Q2 2014 | 2014-06-30 | $2.05B | $613.0M | +42.54% | +39.65% |
| Q1 2014 | 2014-03-31 | $970.0M | $79.0M | +8.87% | +21.46% |
| Q3 2013 · Sep 30 | 2013-09-30 | $1.63B | $82.0M | +5.29% | +34.37% |
| Q2 2013 · Jun 30 | 2013-06-30 | $1.44B | −$762.0M | −34.59% | +30.80% |
| Q1 2013 · Mar 31 | 2013-03-31 | $891.0M | $63.0M | +7.61% | +21.02% |
| Q3 2012 · Sep 30 | 2012-09-30 | $1.55B | $701.0M | +82.57% | +35.89% |
| Q2 2012 · Jun 30 | 2012-06-30 | $2.20B | $790.0M | +55.91% | +49.21% |
| Q1 2012 · Mar 31 | 2012-03-31 | $828.0M | −$102.0M | −10.97% | +20.45% |
| Q3 2011 | 2011-09-30 | $849.0M | −$326.0M | −27.74% | +21.53% |
| Q2 2011 | 2011-06-30 | $1.41B | $26.0M | +1.87% | +35.69% |
| Q1 2011 | 2011-03-31 | $930.0M | $111.0M | +13.55% | +25.09% |
| Q4 2010 | 2010-12-31 | $1.83B | $147.0M | +8.76% | +48.56% |
| Q3 2010 | 2010-09-30 | $1.18B | −$670.0M | −36.31% | +30.79% |
| Q2 2010 | 2010-06-30 | $1.39B | −$153.0M | −9.94% | +36.46% |
| Q1 2010 | 2010-03-31 | $819.0M | $77.0M | +10.38% | +22.80% |
| Q4 2009 | 2009-12-31 | $1.68B | — | — | +44.86% |
| Q3 2009 | 2009-09-30 | $1.84B | — | — | +48.40% |
| Q2 2009 | 2009-06-30 | $1.54B | — | — | +41.48% |
| Q1 2009 | 2009-03-31 | $742.0M | — | — | +22.43% |
Amgen free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $9.89B to $8.10B, a compound annual decline of 3.91%. Amgen's latest reported quarter, Q2 2026, generated $3.49B in free cash flow, an increase of 82.57% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Amgen source filings ↗