Amgen Inc. (AMGN): return on invested capital, 10 filed years
ROIC at Amgen Inc. was 14.2% in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from 3.6% (FY2017) to 24.4% (FY2019), with a median of 17.4%.
Tonight's figure on the company page: 14.2%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | ROIC | Read from |
|---|---|---|
| FY2016 | 13.5% | 10-K, filed 2017-02-14 |
| FY2017 | 3.6% | 10-K, filed 2018-02-13 |
| FY2018 | 22.9% | 10-K, filed 2019-02-13 |
| FY2019 | 24.4% | 10-K, filed 2020-02-12 |
| FY2020 | 22.3% | 10-K, filed 2021-02-09 |
| FY2021 | 20.6% | 10-K, filed 2022-02-16 |
| FY2022 | 23.9% | 10-K, filed 2023-02-09 |
| FY2023 | 11.1% | 10-K, filed 2024-02-14 |
| FY2024 | 11.8% | 10-K, filed 2025-02-14 |
| FY2025 | 14.2% | 10-K, filed 2026-02-13 |
How each year is computed
Operating income x (1 - effective tax rate) / (equity + total debt - cash) x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.