Amgen (AMGN) Balance Sheet: Assets & Liabilities

Amgen (AMGN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Amgen reported total assets of $90.59B and total liabilities of $81.93B. Shareholders' equity was $8.66B, up 47.3% from $5.88B a year earlier. Total debt stood at $54.60B against $9.13B in cash and short-term investments, a net debt position of $45.48B. That puts debt-to-equity at 6.31, compared with 10.23 a year earlier.

Amgen Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Balance sheet showing assets, liabilities, and shareholders' equity for Amgen Inc. (AMGN) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	9.13	11.97	10.94	7.63	7.99	6.27	6.04	6.95	3.80
Short-Term Investments	0.00	0.00	0.00	1.68	0.05	4.38	2.87	22.36	37.88
Cash & Short-Term Investments	9.13	11.97	10.94	9.31	8.04	10.65	8.91	29.30	41.68
Accounts Receivable	9.57	6.78	7.94	5.56	5.84	4.53	4.06	3.58	3.24
Inventory	6.23	7.00	9.52	4.93	4.09	3.89	3.58	2.94	2.83
Other Current Assets	1.19	3.28	1.93	0.36	1.42	2.08	1.89	1.79	1.73
Total Current Assets	29.06	29.03	30.33	22.19	19.39	21.14	18.44	37.62	49.48
Non-Current Assets
Property, Plant & Equipment (Net)	7.91	6.54	5.94	5.43	5.18	4.89	4.93	4.96	4.99
Long-Term Investments	6.80	4.77	4.71	3.16	0.00	0.00	0.00	0.00	0.00
Goodwill	18.68	18.64	18.63	15.53	14.89	14.69	14.70	14.70	14.76
Intangible Assets	22.28	27.70	32.64	16.08	15.18	16.59	19.41	7.44	8.61
Other Non-Current Assets	12.66	9.93	4.90	5.90	6.52	5.64	2.22	1.70	2.12
Total Non-Current Assets	61.53	62.81	66.82	42.94	41.78	41.80	41.27	28.80	30.48
Total Assets	90.59	91.84	97.15	65.12	61.17	62.95	59.71	66.42	79.95
Current Liabilities
Accounts Payable	2.37	1.91	1.59	1.57	1.37	1.42	1.37	1.21	1.35
Short-Term Debt	4.60	3.55	1.44	1.59	0.09	0.09	2.95	4.42	1.15
Current Portion of Long-Term Debt	4.60	3.55	1.44	1.59	0.09	-	-	-	-
Accrued Liabilities	15.35	17.64	11.11	9.09	10.73	-	-	-	-
Other Current Liabilities	18.52	9.68	13.70	7.12	10.03	9.31	8.51	7.86	6.52
Total Current Liabilities	25.49	23.10	18.39	15.69	12.18	11.65	12.84	13.49	9.02
Non-Current Liabilities
Long-Term Debt	50.01	56.55	63.17	37.35	33.22	32.90	26.95	29.51	34.19
Deferred Tax Liabilities	1.37	1.62	2.35	0.01	0.00	0.00	0.61	0.86	1.17
Other Non-Current Liabilities	2.38	6.31	7.01	2.65	9.06	8.99	9.64	10.05	10.34
Total Non-Current Liabilities	56.44	62.86	72.53	45.77	42.28	41.89	37.20	40.43	45.69
Total Liabilities	81.93	85.96	90.92	61.46	54.47	53.54	50.03	53.92	54.71
Stockholders' Equity
Common Stock	34.02	33.53	33.07	32.51	32.10	31.80	31.53	31.25	30.99
Retained Earnings	-25.11	-27.59	-26.55	-28.62	-24.60	-21.41	-21.33	-17.98	-5.07
Accumulated Other Comprehensive Income	-0.26	-0.07	-0.29	-0.23	-0.80	-0.99	-0.53	-0.77	-0.68
Shares Outstanding	0.54	0.54	0.54	0.53	-	-	-	-	-
Total Stockholders' Equity	8.66	5.88	6.23	3.66	6.70	9.41	9.67	12.50	25.24
Total Liabilities & Equity	90.59	91.84	97.15	65.12	61.17	62.95	59.71	66.42	79.95

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Amgen Balance Sheet

How much debt does Amgen have?

Amgen had total debt of $54.60B as of Dec 31, 2025, against $9.13B in cash and short-term investments. Its debt-to-equity ratio was 6.31. Total debt was $60.10B a year earlier.

What are Amgen's total assets?

Amgen reported total assets of $90.59B as of Dec 31, 2025, down 1.4% from $91.84B a year earlier. Total liabilities were $81.93B.

What is Amgen's shareholders' equity?

Amgen's shareholders' equity was $8.66B as of Dec 31, 2025, or about $16.07 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition