Edwyn
Over the five-year period, Amgen’s revenue shows an overall upward trend—from USD 25,424 million in 2020 to USD 33,424 million in 2024. Year-over-year growth, however, was variable. Revenue increased modestly by about 2% from 2020 to 2021 and by roughly 1.3% from 2021 to 2022. A sharper rise occurred in 2023 with a 7.3% increase, and an even more pronounced jump of 18.6% was recorded in 2024. Meanwhile, gross profit more than quadrupled from 2020 to 2021 (a significant swing likely reflecting changes in cost structure or product mix), then continued to grow steadily at a modest pace through 2022 and 2024, despite a slight dip in 2023. Operating income and net income, however, displayed more volatility. Operating income fell by around 16% in 2021 relative to 2020, recovered in 2022 with an increase to USD 9,566 million, and then declined by 17% in 2023 before a more moderate decline in 2024. Net income followed a similar trend. It dropped from USD 7,264 million in 2020 to USD 5,893 million in 2021, partially recovered in 2022 and 2023, but experienced a notable decline of nearly 39% in 2024. These swings suggest that while revenue growth has been robust—possibly driven by market expansion and product innovation—operating and net profit margins have been pressured by rising costs or operational challenges. Overall, the financial health of Amgen appears solid based on revenue growth, but the declining profitability metrics, particularly in 2024, indicate potential concerns for sustainability that merit close monitoring.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.