Amgen (AMGN) Operating Expenses (2009 - 2026)
Amgen (AMGN) reported Operating Expenses of $6.54 billion for Q2 2026, up 0.3% from $6.52 billion a year earlier and up 9.9% from the prior quarter.
Powered by 
Analysis
Amgen (AMGN) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Amgen's Operating Expenses came in at $26.67 billion, down 0.2% year-over-year; for FY2025, it was $27.67 billion, up 5.8% from FY2024.
- Operating Expenses has increased for three consecutive years, with a five-year compound annual growth rate of 11.2% (FY2020 to FY2025).
- By year, Operating Expenses came in at $26.17 billion in FY2024 (+28.9%), $20.29 billion in FY2023 (+21.1%), $16.76 billion in FY2022 (-8.6%) and $18.34 billion in FY2021 (+12.6%).
- Five-year quarterly Operating Expenses spans a low of $3.74 billion in Q1 2022 and a high of $7.15 billion in Q4 2025.
- Year over year, Operating Expenses gained in six of the last eight quarters, with growth averaging 4.8%.
- The high point for year-over-year Operating Expenses in five years was Q1 2024 (growth of 54.3%); the low point was Q2 2022 (a decline of 22.5%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $5.95 billion (Q1 2026), $7.15 billion (Q4 2025) and $7.03 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.01 Bn | 563.54 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 465.23 Bn | 438.39 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 368.40 Bn | 322.83 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 278.02 Bn | 233.89 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 254.57 Bn | 228.13 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 229.02 Bn | 184.42 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 187.74 Bn | 161.85 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.45 Bn | 105.45 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Bristol Myers Squibb | 128.45 Bn | 79.72 Bn | 9.25 Bn | 8.89 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.54 Bn |
| Mar 31, 2026 | 5.95 Bn |
| Dec 31, 2025 | 7.15 Bn |
| Sep 30, 2025 | 7.03 Bn |
| Jun 30, 2025 | 6.52 Bn |
| Mar 31, 2025 | 6.97 Bn |
| Dec 31, 2024 | 6.78 Bn |
| Sep 30, 2024 | 6.46 Bn |
| Jun 30, 2024 | 6.48 Bn |
| Mar 31, 2024 | 6.46 Bn |
| Dec 31, 2023 | 6.93 Bn |
| Sep 30, 2023 | 4.88 Bn |
| Jun 30, 2023 | 4.30 Bn |
| Mar 31, 2023 | 4.18 Bn |
| Dec 31, 2022 | 4.61 Bn |
| Sep 30, 2022 | 3.99 Bn |
| Jun 30, 2022 | 4.42 Bn |
| Mar 31, 2022 | 3.74 Bn |
| Dec 31, 2021 | 4.54 Bn |
| Sep 30, 2021 | 4.33 Bn |
API Access
Amgen Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AMGN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AMGN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AMGN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();