Filing Flows › Amgen (AMGN) › Q2 2026 › vs Q2 2025
Amgen (AMGN) Q2 2026 vs Q2 2025 (year over year)
Amgen's revenue rose $875M (+10%) from $9.2B in Q2 2025 to $10.1B in Q2 2026. The biggest changes: Product sales +$766M (+9%); Other revenues +$109M (+27%). Operating margin 35.0% against 28.9% (+6.0 pts).
Amgen, Q2 2026: revenue $10.1B (+10% year over year), operating margin 35.0%, net earnings $2.4B, operating cash flow $4.0B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 35.0% | 28.9% | +6.0 pts |
| Net margin | 23.6% | 15.6% | +8.0 pts |
| Free cash flow margin | 34.8% | 20.5% | +14.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Product sales | $9.5B | $8.8B | $766M | +9% |
| Other revenues | $517M | $408M | $109M | +27% |
| Revenue | $10.1B | $9.2B | $875M | +10% |
| Operating profit | $3.5B | $2.7B | $858M | +32% |
| Costs & expenses | $6.5B | $6.5B | $17.0M | +0.3% |
| Pre-tax earnings | $2.8B | $1.6B | $1.2B | +77% |
| Other expense, net | $746M | $1.1B | −$342M | -31% |
| Cost of revenue | $2.8B | $3.0B | −$200M | -7% |
| Research & development | $1.9B | $1.7B | $124M | +7% |
| SG&A | $1.7B | $1.7B | $54.0M | +3% |
| Other operating costs | $116M | $77.0M | $39.0M | +51% |
| Net earnings | $2.4B | $1.4B | $943M | +66% |
| Income tax | $393M | $136M | $257M | +189% |
| Depreciation & amortization | $1.1B | $1.3B | −$229M | -17% |
| Share-based compensation | $165M | $157M | $8.0M | +5% |
| Working capital & other | $350M | −$650M | $1.0B | — |
| Operating cash flow | $4.0B | $2.3B | $1.7B | +76% |
| Free Cash Flow (company-reported) | $3.5B | $1.9B | $1.6B | +86% |
| Capital Expenditures | $500M | $400M | $100M | +25% |
Questions
How much did Amgen's revenue grow year over year in Q2 2026?
Amgen's revenue rose $875M (+10%) from $9.2B in Q2 2025 to $10.1B in Q2 2026.
What drove Amgen's revenue change in Q2 2026?
Product sales +$766M (+9%); Other revenues +$109M (+27%).