AMGN · 8-K · 20260804PR000124
Free Cash Flow and Liquidity
AMGEN INC · 2026-08-04 · Importance 69 · Surprise 64 · No source text
Second-quarter free cash flow increased to $3.5 billion from $1.9 billion, reflecting the final $2025 repatriation tax payment and current-period business performance, partially offset by working-capital timing. Operating cash flow increased to $4.0 billion from $2.3 billion, while capital expenditures rose to $0.5 billion from $0.4 billion. Cash and cash equivalents totaled $14.0 billion at June 30, 2026, up from $9.1 billion at December 31, 2025. Debt outstanding totaled $57.3 billion at June 30, 2026, up $2.7 billion from $54.6 billion at year-end 2025.
Key facts
- The Company generated $3.5 billion of free cash flow in the second quarter of 2026 versus $1.9 billion in the second quarter of 2025. source
- Cash and Cash Equivalents were $13,989 million as of June 30, 2026 versus $9,129 million as of December 31, 2025, a YTD increase of $4,860 million. source
- Cash and cash equivalents totaled $14.0 billion and debt outstanding totaled $57.3 billion as of June 30, 2026. source
- Debt outstanding was $57,304 million ($5,445 million current portion and $51,859 million long-term) as of June 30, 2026. source
- Net cash used in investing activities for the six months ended June 30, 2026 was $(1,285) million. source
- Net cash used in financing activities for the three months ended June 30, 2026 was $(1,482) million. source
- Net cash used in financing activities for the three months ended June 30, 2025 was $(2,673) million. source
- Net cash used in financing activities for the six months ended June 30, 2025 was $(6,780) million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | — | The Company generated $3.5 billion of free cash flow in the second quarter of 2026 versus $1.9 billion in the second quarter of 2025. |
| cash | positive | realized | — | Cash and Cash Equivalents were $13,989 million as of June 30, 2026 versus $9,129 million as of December 31, 2025, a YTD increase of $4,860… |
| liability | negative | realized | — | Cash and cash equivalents totaled $14.0 billion and debt outstanding totaled $57.3 billion as of June 30, 2026. |
| liability | negative | realized | — | Debt outstanding was $57,304 million ($5,445 million current portion and $51,859 million long-term) as of June 30, 2026. |
| cash | negative | realized | — | Net cash used in investing activities for the six months ended June 30, 2026 was $(1,285) million. |
| cash | negative | realized | — | Net cash used in financing activities for the three months ended June 30, 2026 was $(1,482) million. |
| cash | positive | realized | — | Increase (decrease) in cash and cash equivalents for the three months ended June 30, 2026 was $1,951 million. |