Biotechnology
Price
$374.15
+3.55%Market Cap
$201.93B
Day High
$375.15
Day Low
$363.39
Amgen delivered a strong Q1 2026 with revenue up 5.8% YoY to $8.62B, while operating income more than doubled (+126.3%) to $2.67B driven by lower cost of revenue and reduced SG&A, though net income grew more modestly at 5.1% to $1.82B.
Key risk: High Leverage from Horizon Therapeutics Acquisition
Amgen carries $57.32B in long-term debt, a legacy of its large-scale acquisition strategy. This elevated debt burden constrains financial flexibility and increases sensitivity to interest rate movements. With ROA at only ~2.0%, the company must sustain strong cash generation to service this debt.
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