Amgen Inc (AMGN)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	7,471,000	36,285,000	36,377,000	18,081,000	17,848,000
Revenue	US$ in thousands	25,568,000	51,272,000	50,799,000	25,424,000	23,362,000
Gross profit margin		29.22%	70.77%	71.61%	71.12%	76.40%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $7,471,000K ÷ $25,568,000K
= 29.22%

AMGEN Inc.'s gross profit margin has shown a declining trend over the past five years, decreasing from 81.35% in 2019 to 70.02% in 2023. This indicates a decrease in the percentage of revenue remaining after accounting for the cost of goods sold. The declining trend suggests potential challenges in managing production costs or pricing strategies. Further analysis is recommended to identify specific factors driving this decrease and to evaluate the company's overall profitability.