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Amgen vs Neurocrine Biosciences: revenue, profit, margins and growth compared

Amgen brought in $36.8B of revenue in fiscal 2025, Neurocrine Biosciences $2.9B in fiscal 2025. Revenue changed by +10.0% at Amgen and +21.4% at Neurocrine Biosciences on the year before, so Neurocrine Biosciences grew faster. Amgen kept 21.0% of its revenue as net profit, Neurocrine Biosciences 16.7%. Free cash flow was $8.1B at Amgen and $748.7M at Neurocrine Biosciences.

Side by side, latest fiscal year

AMGNNBIX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$36.8B$2.9B
Revenue growth+10.0%+21.4%
Net income$7.7B$478.6M
Net margin21.0%16.7%
Free cash flow$8.1B$748.7M
Free cash flow margin22.0%26.2%
Earnings per share (diluted)$14.23$4.67
Cash$9.1B$713M
Debt$54.6Bn/a
Price to earnings29.129.6
Market value$224.2B$14.1B
Dividend yield2.33%n/a
Rank by revenue in sector#20 of 523 · Health care#88 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: $36.8BNBIX FY2018: $451.2MNBIX FY2019: $788.1MNBIX FY2020: $1BNBIX FY2021: $1.1BNBIX FY2022: $1.5BNBIX FY2023: $1.9BNBIX FY2024: $2.4BNBIX FY2025: $2.9BFY18FY19FY20FY21FY22FY23FY24FY25
AMGN $36.8BNBIX $2.9B
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: $7.7BNBIX FY2018: $21.1MNBIX FY2019: $37MNBIX FY2020: $407.3MNBIX FY2021: $89.6MNBIX FY2022: $154.5MNBIX FY2023: $249.7MNBIX FY2024: $341.3MNBIX FY2025: $478.6MFY18FY19FY20FY21FY22FY23FY24FY25
AMGN $7.7BNBIX $478.6M
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%NBIX FY2018: 4.7%NBIX FY2019: 4.7%NBIX FY2020: 38.9%NBIX FY2021: 7.9%NBIX FY2022: 10.4%NBIX FY2023: 13.2%NBIX FY2024: 14.5%NBIX FY2025: 16.7%FY18FY19FY20FY21FY22FY23FY24FY25
AMGN 21.0%NBIX 16.7%
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%NBIX FY2019: +74.7%NBIX FY2020: +32.7%NBIX FY2021: +8.4%NBIX FY2022: +31.3%NBIX FY2023: +26.8%NBIX FY2024: +24.8%NBIX FY2025: +21.4%FY19FY20FY21FY22FY23FY24FY25
AMGN +10.0%NBIX +21.4%
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: $8.1BNBIX FY2018: $76.6MNBIX FY2019: $132.3MNBIX FY2020: $217.6MNBIX FY2021: $233.1MNBIX FY2022: $322.9MNBIX FY2023: $361.6MNBIX FY2024: $557.2MNBIX FY2025: $748.7MFY18FY19FY20FY21FY22FY23FY24FY25
AMGN $8.1BNBIX $748.7M

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

Questions about Amgen and Neurocrine Biosciences

Which is bigger by revenue, Amgen or Neurocrine Biosciences?

Amgen is bigger by revenue: $36.8B in fiscal 2025, against $2.9B for Neurocrine Biosciences in fiscal 2025.

Which keeps more of its revenue as profit, Amgen or Neurocrine Biosciences?

Amgen had a net margin of 21.0% in fiscal 2025; Neurocrine Biosciences had 16.7% in fiscal 2025.

Which grew revenue faster, Amgen or Neurocrine Biosciences?

In their latest fiscal years revenue changed by +10.0% at Amgen and +21.4% at Neurocrine Biosciences.

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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