Amgen Inc (AMGN)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	6,717,000	6,552,000	5,893,000	7,264,000	7,842,000
Total assets	US$ in thousands	97,154,000	65,121,000	61,165,000	62,948,000	59,707,000
ROA		6.91%	10.06%	9.63%	11.54%	13.13%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $6,717,000K ÷ $97,154,000K
= 6.91%

AMGEN Inc.'s return on assets (ROA) has seen a general downward trend over the past five years. The ROA decreased from 13.13% in 2019 to 6.91% in 2023. This decline indicates that the company's ability to generate profits from its assets has weakened. Factors contributing to this trend could include changes in the company's profitability, asset efficiency, or a combination of both. Further investigation into the company's financial performance and operational efficiency may be warranted to understand the underlying reasons for the declining ROA.