Amgen Inc.
$249.48B- Market cap
- $204.01B
- Debt
- +$54.60B
- Cash
- −$9.13B
Capital structure 79% equity / 21% debt · EV / Revenue 6.79x · EV proxy / EBITDA proxy 17.51x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $204.01B · View financials
Snapshot Sep 11, 2026, 4:00 PM ET
FY 2025 ·
Decision snapshot: AMGN stock price vs IONS: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at IONS's multiple
Needs IONS P/E.
Implied fair value · at AMGN's multiple
Needs Annual EPS is negative.
Price unavailable
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Reported gross margin
Operating income + D&A
Lower is better
Not comparable
Lower leverage
Statements
Annual statements in reported currencies, with calculations and source evidence.
Values retain reported currencies and share bases. Select a figure to inspect its period, calculation and filing inputs. Differences require compatible units and periods.
Explore enterprise value and market valuation multiples in the valuation sections.
Trendline
Eight period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
USD market cap plus reported borrowing debt, less cash and equivalents. This EV proxy excludes investments, preferred stock and noncontrolling-interest adjustments.
Capital structure 79% equity / 21% debt · EV / Revenue 6.79x · EV proxy / EBITDA proxy 17.51x
Complete market value, debt and cash evidence is required for enterprise value.
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Amgen Inc. · implied price per share
Bear
$121.60
Base
$161.79
Bull
$216.01
Ionis Pharmaceuticals, Inc. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Inspect reported liquidity and leverage alongside historical financial-health checks.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Comparable set
Where the pair sits against the wider comparable set.
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Cash excludes investments. EBITDA is an operating-income-plus-D&A proxy. Missing borrowing categories remain unavailable; select a value to inspect its inputs.
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe the market will re-rate high-quality, profitable biopharma closer to revenue/EV multiples implied by IONS set (i.e., push AMGN toward IONS-implied floor ~$416.40), then buy AMGN because it trades at $350.95 while delivering positive net income, strong EBITDA margin (38.2%), and high ROIC (43.5%), offering potential upside to IONS-implied range.
AMGN currently trades at $350.95, below IONS-implied valuation band ($416.40 - $916.03), implying a valuation gap in favor of AMGN versus IONS-based multiples. On a relative basis AMGN's P/S and EV/Revenue are materially lower than IONS', indicating AMGN is cheaper on revenue-based multiples despite trading inside its historical band.
Supporting Metrics