Amgen Inc (AMGN) Valuation
Historical valuation analysis based on 1281 data points (2021-09-10 to 2026-10-16)
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla f...
Amgen Inc (AMGN) currently trades at a P/E ratio of 26.74 (historical range: 14.56–48.06, median: 23.45), placing it at the 70th percentile — above its historical average, P/S ratio of 6.14 (range: 4.16–6.51, 98th percentile — expensive relative to its history), EV/EBITDA of 24.25 (range: 15.02–36.26, 61th percentile).
Over the historical period (2021-09-10 to 2026-10-16), Amgen Inc's P/E ratio has expanded by 62% over the observed period (from an average of 20.2 to 32.7).
Amgen Inc trades well above its own historical valuation range across most metrics.
Historical Valuation Metrics
| Metric | Current | Median | %ile | Assessment |
|---|---|---|---|---|
| P/E Ratio | 26.74 | 23.45 | 70th | above its historical average |
| P/S Ratio | 6.14 | 5.10 | 98th | expensive relative to its history |
| EV/EBITDA | 24.25 | 21.70 | 61th | above its historical average |
| FCF Yield | 4.35% | 6.15% | 16th | expensive relative to its history |
Amgen Inc (AMGN) Valuation & P/E History
Amgen Inc (AMGN) is a US-listed stock operating in the Healthcare sector, specifically the Biotechnology industry currently trading at $430.01 with a market capitalization of $232.5 billion. This page provides historical valuation analysis for AMGN based on 1281 data points covering 2021-09-10 to 2026-10-16. The P/E ratio of 26.74 is above the historical median of 23.45, placing AMGN at the 70th percentile of its valuation range. The P/S ratio of 6.14 compares to a median of 5.10.
AMGN Valuation Metrics & Historical Range
The valuation table above shows Amgen Inc's current and historical valuation multiples, including P/E ratio, P/S ratio, EV/EBITDA, FCF yield, and dividend yield. Each metric is compared to its own historical range to determine whether AMGN is currently trading above or below its typical valuation levels.
- P/E ratio: Price-to-earnings measures how much investors pay per dollar of earnings. A P/E above the historical median suggests AMGN is expensively valued; below the median suggests it is cheap.
- P/S ratio: Price-to-sales is useful for companies with volatile or negative earnings. Lower P/S relative to history may indicate value.
- EV/EBITDA: Enterprise value to EBITDA adjusts for debt and cash, providing a capital-structure-neutral valuation measure for Amgen Inc.
- FCF yield: Free cash flow yield shows the cash return relative to market price. Higher yields may indicate undervaluation.
Is AMGN Overvalued or Undervalued?
Amgen Inc trades well above its own historical valuation range across most metrics. The overall valuation percentile of 76 combines P/E, P/S, and EV/EBITDA percentiles into a single measure of how expensive AMGN is relative to its own history. A percentile below 25 suggests the stock may be undervalued, while a percentile above 75 suggests it may be overvalued.
However, valuation is only one factor in investment decisions. A stock can remain "overvalued" for years if growth accelerates, or "undervalued" if the business deteriorates. Always combine valuation analysis with financial statement analysis and the full AMGN analysis page for a complete picture.
Valuation data is computed from historical price and fundamental data via Polygon.io and Finnhub.AMGN trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.