Amgen Inc Capital Reinvestment Ratio
Amgen Inc 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). See Amgen Inc free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of Amgen Inc (1989–2025)
Capital reinvestment ratio of Amgen Inc from 1989 to 2025. This chart tracks Amgen Inc's Capital Reinvestment Ratio across 37 annual periods. See Amgen Inc (AMGN) flexibility index to measure the company's free cash flow as a share of total liabilities.
Amgen Inc Capital Reinvestment Ratio by Year (1989–2025)
Amgen Inc capital reinvestment ratio by year from 1989 to 2025. For the full cash flow conversion analysis, see AMGN operating cash flow.
| 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 | — |