Amgen vs Vertex Pharmaceuticals
Amgen reported revenue of $36.8 billion in fiscal 2025, 3.1 times Vertex Pharmaceuticals' $12.0 billion in fiscal 2025. Amgen's revenue grew 9.9% in its latest year, and Vertex Pharmaceuticals' grew 8.9%. Amgen had an operating margin of 24.7%, against 34.8% at Vertex Pharmaceuticals. Free cash flow was $8.1 billion at Amgen and $3.2 billion at Vertex Pharmaceuticals.
Side by side
| Amgen | Vertex Pharmaceuticals | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $36.8B | $12.0B |
| Revenue growth | 9.9% | 8.9% |
| Revenue growth a year, last 5 years | 7.6% | 14.1% |
| Gross margin | 67.2% | 86.2% |
| Operating margin | 24.7% | 34.8% |
| Net margin | 21.0% | 32.9% |
| Free cash flow | $8.1B | $3.2B |
| Free cash flow margin | 22.0% | 26.6% |
| Return on capital | 14.4% | 31.5% |
| Net debt to EBITDA | 3.2x | −1.5x |
| Dividends and buybacks | $5.1B | $2.0B |
| Change in diluted share count | 0.2% | 0.0% |
| Last close | $444.63 | $517.49 |
| P/E at the last close | 27.6× | 30.1× |
| Insider trades, last 12 months | sold $29.3 million | sold $158.1 million |
| Piotroski F-score | 7 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ 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
AmgenVertex Pharmaceuticals
Operating margin
Percent of revenue
AmgenVertex Pharmaceuticals
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AmgenVertex Pharmaceuticals
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 Vertex Pharmaceuticals pages.