Company / R&D Expense
Amgen R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$7.3B
FY2025
5-year range
$4.1B / $7.3B
FY2021-FY2025
Trend
+21.9%
vs FY2024
Sector context
#6 of 210
Health Care
What the data says
Among 210 Health Care companies, Amgen is in the top 3% for r&d expense. R&D Expense has increased for 6 consecutive years, from $3.6B in FY2019 to $7.3B in FY2025.
Based on SEC 10-K filings.
$7.3B in FY2025 with a 5-year CAGR of +14.2%. Top quartile in the Health Care sector.
Improved from $4.8B to $7.3B over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +20.0%
- 5-Year CAGR
- +14.2%
- 10-Year CAGR
- -
Sector benchmark
Top 3% in Health CareTop 3% of 210This company $7.3B Sector average $644.1M
▼
+1029.0% above sector average
Key checks
Key Insights
- Amgen's r&d expense has grown for 6 consecutive years.
- 5-year CAGR of +14.2%, indicating consistent growth.
- In FY2025, r&d expense increased 21.9% year-over-year.
- Ranks #6 out of 210 companies in the Health Care sector.
Company context
Key Data Points
- Altman Z-Score 0.55 (distress zone, below 1.8 threshold)
- Strong return on equity: 72.8%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $7.3B | +21.9% |
| FY2024 | $6.0B | +24.7% |
| FY2023 | $4.8B | +13.7% |
| FY2022 | $4.2B | +2.2% |
| FY2021 | $4.1B | +10.1% |
| FY2020 | $3.7B | +4.9% |
| FY2019 | $3.6B | -7.2% |
| FY2018 | $3.8B | -5.7% |
| FY2017 | $4.1B | -5.3% |
| FY2016 | $4.3B | +5.6% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026