Amgen vs Gilead Sciences
Amgen reported revenue of $36.8 billion in fiscal 2025, 1.2 times Gilead Sciences' $29.4 billion in fiscal 2025. Amgen's revenue grew 9.9% in its latest year, and Gilead Sciences' grew 2.4%. Amgen had an operating margin of 24.7%, against 34.0% at Gilead Sciences. Free cash flow was $8.1 billion at Amgen and $9.5 billion at Gilead Sciences.
Side by side
| Amgen | Gilead Sciences | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $36.8B | $29.4B |
| Revenue growth | 9.9% | 2.4% |
| Revenue growth a year, last 5 years | 7.6% | 3.6% |
| Gross margin | 67.2% | 78.8% |
| Operating margin | 24.7% | 34.0% |
| Net margin | 21.0% | 28.9% |
| Free cash flow | $8.1B | $9.5B |
| Free cash flow margin | 22.0% | 32.1% |
| Return on capital | 14.4% | 22.9% |
| Net debt to EBITDA | 3.2x | 1.4x |
| Dividends and buybacks | $5.1B | $5.9B |
| Change in diluted share count | 0.2% | 0.0% |
| Last close | $444.63 | $158.69 |
| P/E at the last close | 27.6× | — |
| Insider trades, last 12 months | sold $29.3 million | sold $85.8 million |
| Piotroski F-score | 7 of 9 | 8 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AmgenGilead Sciences
Operating margin
Percent of revenue
AmgenGilead Sciences
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AmgenGilead Sciences
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Amgen and Gilead Sciences pages.