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Amgen vs Halozyme Therapeutics: revenue, profit, margins and growth compared

Amgen brought in $36.8B of revenue in fiscal 2025, Halozyme Therapeutics $1.4B in fiscal 2025. Revenue changed by +10.0% at Amgen and +37.6% at Halozyme Therapeutics on the year before, so Halozyme Therapeutics grew faster. Amgen kept 21.0% of its revenue as net profit, Halozyme Therapeutics 22.7%. Free cash flow was $8.1B at Amgen and $644.6M at Halozyme Therapeutics.

Side by side, latest fiscal year

AMGNHALO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$36.8B$1.4B
Revenue growth+10.0%+37.6%
Net income$7.7B$316.9M
Net margin21.0%22.7%
Free cash flow$8.1B$644.6M
Free cash flow margin22.0%46.2%
Earnings per share (diluted)$14.23$2.56
Cash$9.1B$133.8M
Debt$54.6B$2.1B
Price to earnings29.144.5
Market value$224.2B$12.9B
Dividend yield2.33%n/a
Rank by revenue in sector#20 of 523 · Health care#129 of 523 · Health care

Over the years

Revenue
AMGN FY2018: $23.7BAMGN FY2019: $23.4BAMGN FY2020: $25.4BAMGN FY2021: $26BAMGN FY2022: $26.3BAMGN FY2023: $28.2BAMGN FY2024: $33.4BAMGN FY2025: $36.8BHALO FY2018: $151.9MHALO FY2019: $196MHALO FY2020: $267.6MHALO FY2021: $443.3MHALO FY2022: $660.1MHALO FY2023: $829.3MHALO FY2024: $1BHALO FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
AMGN $36.8BHALO $1.4B
Net income
AMGN FY2018: $8.4BAMGN FY2019: $7.8BAMGN FY2020: $7.3BAMGN FY2021: $5.9BAMGN FY2022: $6.6BAMGN FY2023: $6.7BAMGN FY2024: $4.1BAMGN FY2025: $7.7BHALO FY2018: -$80.3MHALO FY2019: -$72.2MHALO FY2020: $129.1MHALO FY2021: $402.7MHALO FY2022: $202.1MHALO FY2023: $281.6MHALO FY2024: $444.1MHALO FY2025: $316.9MFY18FY19FY20FY21FY22FY23FY24FY25
AMGN $7.7BHALO $316.9M
Net margin
AMGN FY2018: 35.3%AMGN FY2019: 33.6%AMGN FY2020: 28.6%AMGN FY2021: 22.7%AMGN FY2022: 24.9%AMGN FY2023: 23.8%AMGN FY2024: 12.2%AMGN FY2025: 21.0%HALO FY2018: -52.9%HALO FY2019: -36.9%HALO FY2020: 48.2%HALO FY2021: 90.8%HALO FY2022: 30.6%HALO FY2023: 34.0%HALO FY2024: 43.7%HALO FY2025: 22.7%FY18FY19FY20FY21FY22FY23FY24FY25
AMGN 21.0%HALO 22.7%
Revenue growth
AMGN FY2019: -1.6%AMGN FY2020: +8.8%AMGN FY2021: +2.2%AMGN FY2022: +1.3%AMGN FY2023: +7.1%AMGN FY2024: +18.6%AMGN FY2025: +10.0%HALO FY2019: +29.1%HALO FY2020: +36.5%HALO FY2021: +65.7%HALO FY2022: +48.9%HALO FY2023: +25.6%HALO FY2024: +22.4%HALO FY2025: +37.6%FY19FY20FY21FY22FY23FY24FY25
AMGN +10.0%HALO +37.6%
Free cash flow
AMGN FY2018: $10.6BAMGN FY2019: $8.5BAMGN FY2020: $9.9BAMGN FY2021: $8.4BAMGN FY2022: $8.8BAMGN FY2023: $7.4BAMGN FY2024: $10.4BAMGN FY2025: $8.1BHALO FY2018: -$54.2MHALO FY2019: -$89.5MHALO FY2020: $53MHALO FY2021: $298MHALO FY2022: $235.3MHALO FY2023: $373.3MHALO FY2024: $468.4MHALO FY2025: $644.6MFY18FY19FY20FY21FY22FY23FY24FY25
AMGN $8.1BHALO $644.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Amgen and Halozyme Therapeutics

Which is bigger by revenue, Amgen or Halozyme Therapeutics?

Amgen is bigger by revenue: $36.8B in fiscal 2025, against $1.4B for Halozyme Therapeutics in fiscal 2025.

Which keeps more of its revenue as profit, Amgen or Halozyme Therapeutics?

Amgen had a net margin of 21.0% in fiscal 2025; Halozyme Therapeutics had 22.7% in fiscal 2025.

Which grew revenue faster, Amgen or Halozyme Therapeutics?

In their latest fiscal years revenue changed by +10.0% at Amgen and +37.6% at Halozyme Therapeutics.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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