Amgen Inc (AMGN) — Capital Reinvestment Ratio
Amgen Inc (AMGN) has a Capital Reinvestment Ratio of 0.40x as of December 2025, meaning it reinvests 0% of its operating cash flow ($1.60 Billion) in capital expenditures ($642.00 Million). Check Amgen Inc tangible equity quality to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Amgen Inc Capital Reinvestment Ratio (1989–2025)
This chart tracks Amgen Inc's Capital Reinvestment Ratio across 37 annual periods. For the full cash flow conversion analysis, see cash efficiency ratio of Amgen Inc.
Annual Capital Reinvestment Ratio for Amgen Inc (1989–2025)
Year-by-year Capital Reinvestment Ratio for Amgen Inc from 1989 to 2025. See Amgen Inc free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.19x | $9.96 Billion | $1.86 Billion | ▲ +95.6% |
| 2024 | 0.10x | $11.49 Billion | $1.10 Billion | ▼ -27.3% |
| 2023 | 0.13x | $8.47 Billion | $1.11 Billion | ▲ +36.3% |
| 2022 | 0.10x | $9.72 Billion | $936.00 Million | ▲ +1.3% |
| 2021 | 0.10x | $9.26 Billion | $880.00 Million | ▲ +64.1% |
| 2020 | 0.06x | $10.50 Billion | $608.00 Million | ▼ -14.2% |
| 2019 | 0.07x | $9.15 Billion | $618.00 Million | ▲ +3.4% |
| 2018 | 0.07x | $11.30 Billion | $738.00 Million | ▲ +10.0% |
| 2017 | 0.06x | $11.18 Billion | $664.00 Million | ▼ -26.5% |
| 2016 | 0.08x | $10.35 Billion | $837.00 Million | ▲ +13.1% |
| 2015 | 0.07x | $9.08 Billion | $649.00 Million | ▼ -39.0% |
| 2014 | 0.12x | $8.55 Billion | $1.00 Billion | ▲ +6.4% |
| 2013 | 0.11x | $6.29 Billion | $693.00 Million | ▼ -6.0% |
| 2012 | 0.12x | $5.88 Billion | $689.00 Million | ▲ +5.8% |
| 2011 | 0.11x | $5.12 Billion | $567.00 Million | ▲ +10.5% |
| 2010 | 0.10x | $5.79 Billion | $580.00 Million | ▲ +19.8% |
| 2009 | 0.08x | $6.34 Billion | $530.00 Million | ▼ -25.5% |
| 2008 | 0.11x | $5.99 Billion | $672.00 Million | ▼ -52.2% |
| 2007 | 0.23x | $5.40 Billion | $1.27 Billion | ▲ +3.8% |
| 2006 | 0.23x | $5.39 Billion | $1.22 Billion | ▲ +28.0% |
| 2005 | 0.18x | $4.91 Billion | $867.00 Million | ▼ -51.1% |
| 2004 | 0.36x | $3.70 Billion | $1.34 Billion | ▼ -5.0% |
| 2003 | 0.38x | $3.57 Billion | $1.36 Billion | ▲ +29.9% |
| 2002 | 0.29x | $2.25 Billion | $658.50 Million | ▼ -1.9% |
| 2001 | 0.30x | $1.48 Billion | $441.80 Million | ▲ +11.5% |
| 2000 | 0.27x | $1.63 Billion | $437.70 Million | ▼ -5.3% |
| 1999 | 0.28x | $1.08 Billion | $304.20 Million | ▼ -27.7% |
| 1998 | 0.39x | $1.04 Billion | $407.80 Million | ▼ -8.8% |
| 1997 | 0.43x | $902.90 Million | $387.80 Million | ▲ +32.4% |
| 1996 | 0.32x | $822.60 Million | $266.90 Million | ▲ +54.2% |
| 1995 | 0.21x | $773.20 Million | $162.70 Million | ▼ -14.4% |
| 1994 | 0.25x | $531.90 Million | $130.80 Million | ▼ -49.3% |
| 1993 | 0.48x | $433.00 Million | $209.90 Million | ▼ -35.4% |
| 1992 | 0.75x | $292.80 Million | $219.80 Million | ▲ +40.6% |
| 1991 | 0.53x | $219.70 Million | $117.30 Million | ▼ -88.9% |
| 1990 | 4.81x | $13.50 Million | $64.90 Million | ▲ +103.9% |
| 1989 | 2.36x | $18.70 Million | $44.10 Million | — |