Superworth

Amgen price to free cash flow AMGN

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026
23.3×
10-year median
14.6×
Against its 10-year history
92nd
percentile: 0 is its lowest day, 100 its highest
10-year range
10.2× to 33.1×
Peer median
15.6×

Amgen's price to free cash flow is 23.3× as of Oct 23, 2026.

That is above its ten-year median of 14.6×, higher than on 92% of days in the last ten years.

Over that time it ranged from 10.2× in May 2018 to 33.1× in Sep 2024.

The median for 8 large drugmakers of a similar size is 15.6×.

Price to free cash flow over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far23.3×15.2×25.8×
202515.5×13.1×25.1×
202422.5×16.6×33.1×
202316.4×13.4×17.0×
202215.6×14.4×17.5×
202116.2×13.1×16.2×
202013.1×12.3×17.3×
201915.6×10.5×15.7×
201811.6×10.2×13.5×
201712.0×11.3×14.5×
201612.7×11.7×14.8×
201513.8×12.1×16.8×
201417.2×14.9×20.4×
201319.0×10.6×19.6×
201211.0×10.9×14.7×
201111.2×8.6×11.2×
201010.3×8.4×10.7×

Against its peers

Companies in Drug Manufacturers - General nearest Amgen's size, closest first, today.

CompanyPrice to free cash flow
AMGNAmgen23.3×
GILDGilead Sciences14.9×
PFEPfizer15.6×
MRKMerck22.3×
BMYBristol-Myers Squibb11.0×
ABBVAbbVie27.7×
JNJJohnson & Johnsonn/m
LLYEli Lilly and65.9×
BIIBBiogen13.7×
Peer median15.6×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Amgen

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.