Amgen Inc. (AMGN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 2.19B | 1.6B | 4.68B | 2.28B | 1.39B | 4.77B | 3.57B | 2.46B | 689M | 538M | 2.76B | 4.11B | 1.06B | 2.65B | 2.98B | 1.93B | 2.16B | 2.81B | 2.42B | 1.93B |
| Operating CF Margin % | 25.4% | 16.2% | 49.01% | 24.87% | 17.07% | 52.51% | 42% | 29.32% | 9.25% | 6.56% | 39.98% | 58.82% | 17.43% | 38.73% | 44.77% | 29.27% | 34.69% | 41.02% | 36.06% | 29.59% |
| Operating CF Growth % | 57.37% | -66.4% | 31.17% | -7.28% | 101.89% | 786.8% | 29.38% | -40.16% | -35.24% | -79.69% | -7.32% | 112.9% | -50.83% | -5.66% | 23.16% | -0.05% | 2.85% | 30.42% | -28.21% | -32.05% |
| Net Income | 1.82B | 1.33B | 3.22B | 1.43B | 1.73B | 627M | 2.83B | 746M | -113M | 767M | 1.73B | 1.38B | 2.84B | 1.62B | 2.14B | 1.32B | 1.48B | 1.9B | 1.88B | 464M |
| Depreciation & Amortization | 0 | 1.13B | 1.31B | 1.34B | 1.39B | 1.4B | 1.4B | 1.4B | 1.4B | 1.38B | 895M | 896M | 900M | 911M | 837M | 828M | 841M | 852M | 850M | 855M |
| Stock-Based Compensation | 0 | 0 | 127M | 157M | 85M | 134M | 136M | 157M | 103M | 473M | 104M | 119M | 47M | 401M | 0 | 0 | 0 | 341M | 0 | 0 |
| Deferred Taxes | 0 | -19M | -30M | -422M | -250M | -334M | -110M | -383M | -401M | -623M | -447M | -154M | -49M | -351M | -333M | -263M | -251M | -189M | -127M | -46M |
| Other Non-Cash Items | 370M | 1.02B | -1.6B | 531M | -545M | 868M | -1.54B | 417M | 393M | -561M | 425M | 754M | -1.92B | -232M | 21M | 948M | 545M | -416M | 17M | 1.6B |
| Working Capital Changes | 0 | -1.87B | 1.66B | -759M | -1.02B | 2.08B | 856M | 122M | -692M | -898M | 53M | 1.11B | -754M | 304M | 310M | -900M | -447M | 321M | -206M | -938M |
| Change in Receivables | 0 | -1.07B | 222M | -515M | -1.31B | 473M | -342M | -176M | 486M | -433M | -342M | -96M | -144M | -180M | -62M | -309M | -195M | -160M | -304M | -56M |
| Change in Inventory | 0 | 119M | 240M | 239M | 288M | 323M | 681M | 722M | 806M | 573M | -54M | 30M | -58M | -91M | -241M | -180M | -230M | 50M | -48M | -41M |
| Change in Payables | 0 | -484M | -174M | 589M | 497M | -232M | -122M | 643M | 23M | -187M | 156M | -118M | -253M | 296M | -44M | -140M | 42M | 191M | -104M | -127M |
| Cash from Investing | -716M | -693M | -414M | -389M | -447M | -402M | -210M | -217M | -217M | -27.09B | -262M | -211M | 1.36B | -3.47B | -267M | -2.19B | -111M | -230M | 73M | 1.21B |
| Capital Expenditures | -712M | -642M | -436M | -369M | -411M | -371M | -257M | -238M | -230M | -249M | -248M | -271M | -344M | -340M | -160M | -246M | -190M | -287M | -242M | -185M |
| CapEx % of Revenue | 8.26% | 6.49% | 4.56% | 4.03% | 5.04% | 4.08% | 3.02% | 2.84% | 3.09% | 3.04% | 3.59% | 3.88% | 5.63% | 4.97% | 2.41% | 3.73% | 3.05% | 4.19% | 3.61% | 2.83% |
| Acquisitions | 0 | -53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -26.99B | 0 | 0 | 0 | -3.73B | 0 | 0 | 0 | -893M | -164M | -1.63B |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4M | 2M | 22M | -20M | -36M | -31M | 47M | 21M | 13M | -26.84B | -13M | 59M | 28M | 47M | -120M | 14M | 47M | 45M | -18M | 17M |
| Cash from Financing | 1.44B | -1.23B | -2.85B | -2.67B | -4.11B | -1.41B | -3.65B | -2.65B | -1.71B | 2.75B | -2B | -1.21B | 21.51B | -1.05B | 1.59B | -1.06B | -3.51B | -6.56B | 2.85B | -2.62B |
| Debt Issued (Net) | 0 | 0 | -1.58B | -1.3B | -2.8B | 4.01B | -2.2B | -1.4B | -410M | 4B | -749M | -18M | 23.09B | 278M | 2.98B | 2M | 3.95B | -4.15B | 4.95B | 0 |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | -200M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.36B | -1.44B | -1.08B | -1.58B |
| Dividends Paid | 0 | -1.28B | -1.28B | -1.28B | -1.28B | -1.21B | -1.21B | -1.21B | -1.21B | -1.14B | -1.14B | -1.14B | -1.14B | -1.04B | -1.04B | -1.04B | -1.08B | -990M | -999M | -1.01B |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -200M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.36B | -1.44B | -1.08B | -1.58B |
| Other Financing | 1.44B | 57M | 10M | -92M | -27M | -4.01B | -241M | -40M | -90M | -102M | -116M | -53M | -448M | -287M | -358M | -26M | -26M | 26M | -19M | -33M |
| Net Change in Cash | 2.91B | -316M | 1.42B | -782M | -3.16B | 2.96B | -290M | -407M | -1.24B | -23.8B | 493M | 2.69B | 23.93B | -1.87B | 4.3B | -1.32B | -1.46B | -3.98B | 5.34B | 518M |
| Free Cash Flow | 1.48B | 961M | 4.25B | 1.91B | 980M | 4.4B | 3.31B | 2.22B | 459M | 289M | 2.51B | 3.84B | 720M | 2.31B | 2.82B | 1.68B | 1.97B | 2.52B | 2.18B | 1.75B |
| FCF Margin % | 17.14% | 9.71% | 44.45% | 20.85% | 12.03% | 48.43% | 38.97% | 26.48% | 6.16% | 3.53% | 36.39% | 54.94% | 11.79% | 33.76% | 42.36% | 25.54% | 31.64% | 36.82% | 32.45% | 26.75% |
| FCF Growth % | 50.71% | -78.16% | 28.18% | -13.96% | 113.51% | 1422.49% | 31.93% | -42.13% | -36.25% | -87.48% | -10.86% | 127.91% | -63.53% | -8.41% | 29.5% | -3.55% | 1.86% | 27.32% | -32.69% | -34.95% |
| FCF per Share | 2.72 | 1.77 | 7.84 | 3.53 | 1.81 | 8.12 | 6.11 | 4.11 | 0.86 | 0.54 | 4.67 | 7.15 | 1.34 | 4.28 | 5.24 | 3.14 | 3.58 | 4.46 | 3.82 | 3.03 |
| FCF Conversion (FCF/Net Income) | 1.20x | 1.20x | 1.46x | 1.59x | 0.80x | 7.61x | 1.26x | 3.30x | -6.10x | 0.70x | 1.60x | 2.98x | 0.37x | 1.64x | 1.39x | 1.47x | 1.47x | 1.48x | 1.28x | 4.16x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |