Mulya.ai
Ticker
AMGN
Scenario
Key Inputs
Revenue est.?Analyst
OP margin est.?Analyst
Reinvestment est.?projected
R&D capitalizedYes · 5yr amort
Leases factoredNo
Key Assumptions
WACC ?6.2%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?0.416
Beta (levered) ?0.522
Terminal OM% ?33.9%
Segment conc. ?21% dominant
Terminal growth ?4.1%
Bond rating ?A · 1.20%
ROIC option ?Opt 4 · 17.2%
Prob of failure ?0.0%
Pipeline validated · 2026-07-21

AMGN · Amgen Inc.

$358.332026-07-21
Sector: Healthcare; Industry: Drug Manufacturers - General; Sub-Industry: Biotechnology

Intrinsic Value Range Comparison · Mulya.ai

R&D capitalized (5yr)
Bull
$640
+78.5% vs market
Base · active
$328
-8.4% vs market
Bear
$328
-8.4% vs market
Mulya.ai vs Analyst IV Comparison?
Bear $328
Base $328
Median $355
Market $358
Bull $640
Market Price $358
Mulya.ai Base $328
Analysts Median $355
Mulya.ai IV range ($328 · $640)
Analysts Range ($185 · $427)
Fundamentals · historical + forward · base
italics = DCF projection
PeriodRevenueRev Gr ?Ops M% ?Tax Rate ?NOPAT ?
Reinvest ?
FCFF ?WACC% ?PV FCFF ?ROIC ?Inv. Cap ?EPS ?P/E
2024.Q1$28.2B34.4%13.4%$8.4B−$25.7B−$17.3B6.4%11.7%$71.8B$12.35
2024.Q4$28.2B0.0%34.4%11.3%$8.6B$5.0B$13.6B6.7%12.4%$66.5B$12.35
2025.Q1$33.4B18.6%26.6%10.8%$7.9B$4.1B$12.0B6.7%11.6%$70.3B$7.52
2025.Q4$33.4B0.0%26.6%14.1%$7.7B−$1.0B$6.6B6.2%10.9%$69.7B$7.52
2026.Q1$37.2B11.4%38.8%14.2%$12.4B−$1.9B$10.5B6.2%17.4%$72.7B$14.3413.5
italics below = DCF projection · 10yr Rev CAGR: 3.5%
2027.Q1$38.0B+2.0%36.0%14.8%$11.7B−$780MM$10.9B6.4%$10.2B16.0%$73.4B$17.4920.5
2028.Q1$39.0B+2.6%37.0%15.3%$12.2B−$1.2B$11.0B6.6%$9.7B16.5%$74.6B$18.3219.6
2029.Q1$40.0B+2.7%38.9%15.9%$13.1B−$1.6B$11.5B6.8%$9.5B17.4%$76.2B$19.6218.3
2030.Q1$41.4B+3.5%39.1%16.5%$13.5B$0MM$13.5B7.1%$10.4B17.8%$76.2B$20.2917.7
2031.Q1$43.0B+3.8%39.1%17.1%$14.0B$0MM$14.0B7.3%$10.0B18.3%$76.2B$20.9217.1
Term. Yr+$54.4B4.1%33.9%20.0%$14.8B−$3.5B$11.2B8.6%$122.5B17.2%
Active scenario IV: $328 (-8.4% vs market)