Amgen Inc (AMGN)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	63,170,000	59,040,000	59,377,000	60,761,000	37,354,000	37,161,000	35,705,000	36,010,000	33,222,000	33,291,000	28,458,000	31,129,000	32,895,000	34,196,000	34,133,000	30,008,000	26,950,000	27,742,000	27,798,000	29,319,000
Total stockholders’ equity	US$ in thousands	6,232,000	7,656,000	6,781,000	5,348,000	3,661,000	3,653,000	2,419,000	916,000	6,700,000	8,217,000	8,247,000	9,334,000	9,409,000	10,959,000	10,659,000	9,485,000	9,673,000	10,927,000	10,794,000	10,832,000
Debt-to-equity ratio		10.14	7.71	8.76	11.36	10.20	10.17	14.76	39.31	4.96	4.05	3.45	3.34	3.50	3.12	3.20	3.16	2.79	2.54	2.58	2.71

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $63,170,000K ÷ $6,232,000K
= 10.14

The debt-to-equity ratio of AMGEN Inc. has shown fluctuations in recent quarters, ranging from a low of 7.90 in Q3 2023 to a high of 40.23 in Q1 2022. A higher debt-to-equity ratio indicates a higher reliance on debt to finance its operations, while a lower ratio suggests a stronger equity base.

In the most recent quarter, Q4 2023, the company's debt-to-equity ratio was 10.37, indicating that its level of debt relative to equity was lower compared to the previous quarter. It is important to note that a debt-to-equity ratio of over 1 indicates that the company is primarily financed by debt.

Overall, the trend in the debt-to-equity ratio shows some variability, and it would be advisable for stakeholders to closely monitor the company's leverage position to assess its financial risk and stability.