AMGNAMGEN INC
Biological Products, (no Diagnostic Substances)
- Revenue
- $36.8B
- 10.0% YoY
- Operating margin
- 24.7%
- 14% YoY
- EBITDA
- $14.2B
- 11% YoY
- Market cap
- $251.9B
- Employees
- —
- Net debt / EBITDA
- 3.0×
- $43.3B net debt
- AI in 10-K
- 3.0
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$23M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo129% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo51% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo20% of assetsOver 40% of assets
- Shareholder dissentNo97% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo3.0 per 10K words · 70th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo3.0× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$251.9B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$29M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $26.0B | $26.3B | $28.2B | $33.4B | $36.8B | 10.0% |
| Operating income | $7.6B | $9.6B | $7.9B | $7.3B | $9.1B | 25% |
| Net income | $5.9B | $6.6B | $6.7B | $4.1B | $7.7B | 89% |
| Operating cash flow | $9.3B | $9.7B | $8.5B | $11.5B | $10.0B | 13% |
| Capex | $880M | $936M | $1.1B | $1.1B | $1.9B | 70% |
| Stock-based comp | $341M | $401M | $431M | $530M | $494M | 6.8% |
| Buybacks | $5.0B | $6.4B | $0 | $200M | $0 | 100% |
| Dividends | $4.0B | $4.2B | $4.6B | $4.8B | $5.1B | 6.0% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $29M · 14
- Net
- −$29M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $25M | $49M | 167 | 192 |
| FY2024 | $24M | $13M | 129 | 150 |
| FY2023 | $23M | $29M | 138 | 138 |
| FY2022 | $21M | $42M | 121 | 136 |
| FY2021 | $22M | $17M | 101 | 123 |