AMGN vs GILD: Amgen and Gilead Sciences compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Amgen is the larger company, worth $217.3B, close to Gilead Sciences's $184.1B.
- Gilead Sciences grew revenue faster over the last year (+10.2% vs +9.5%).
- Amgen keeps more of each dollar of revenue as operating profit (30.0% vs -8.2%).
- On earnings, Gilead Sciences is the cheaper stock (20.2x vs 28.0x).
- Amgen's price assumes faster free cash flow growth: about 9% a year, against 5% for Gilead Sciences (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AMGN | GILD |
|---|---|---|
| Market cap | $217.3B | $184.1B |
| Share price | $414.87 | $151.17 |
| Revenue (last fiscal year) | $36.8B | $29.4B |
| Free cash flow (last fiscal year) | $8.1B | $9.5B |
| Revenue growth, last year | +9.5% | +10.2% |
| Revenue growth per year, last 5 fiscal years | +9.1% | +1.9% |
| Operating margin | 30.0% | -8.2% |
| Net margin | 22.9% | -10.6% |
| Return on equity | 74.8% | -27.4% |
| P/E (trailing) | 28.0x | 20.2x |
| Price / free cash flow | 26.8x | 19.5x |
| EV / EBITDA | 13.5x | — |
| FCF growth the price implies | 8.8% | 4.6% |
| Dividend yield | 2.3% | 2.2% |
| Debt / equity | 7.18x | 3.18x |
| Fundamental grade | B | D |
| Superinvestors holding it | 10 | 7 |
| Insider purchases, last 12 months | 8 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Amgen
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $26.0B | $8.4B | 29.4% |
| 2022 | $26.3B | $8.8B | 36.3% |
| 2023 | $28.2B | $7.4B | 28.0% |
| 2024 | $33.4B | $10.4B | 21.7% |
| 2025 | $36.8B | $8.1B | 24.7% |
Gilead Sciences
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.3B | $10.8B | 36.3% |
| 2022 | $27.3B | $8.3B | 26.9% |
| 2023 | $27.1B | $7.4B | 28.0% |
| 2024 | $28.8B | $10.3B | 5.8% |
| 2025 | $29.4B | $9.5B | 34.0% |
Where the revenue comes from
Amgen · by products, 2025
Product sales$35.1B96%
Other revenues$1.6B4%
Gilead Sciences · by products, 2025
Biktarvy$14.3B49%
Descovy$2.8B9%
Genvoya$1.5B5%
Yescarta$1.5B5%
Trodelvy$1.4B5%
Sofosbuvir/Velpatasvir$1.3B4%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AMGN in InvestinglyQuestions
Which is bigger, Amgen or Gilead Sciences?
Amgen (AMGN), at $217.3B against $184.1B.
Is AMGN or GILD cheaper?
By trailing P/E, Gilead Sciences (20.2x) is cheaper than Amgen (28.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, AMGN or GILD?
Gilead Sciences: revenue grew +10.2% over the last year, against +9.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.