Amgen Inc. AMGN

Competitive advantage analysis · healthcare

Corporate Default
Overall moat score
55/100
Moderate

Ranked against 19 peers in Drug Manufacturers - General

About Amgen Inc.

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel for the treatment of rheumatoid arthritis, plaque psoriasis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which … Full AMGN analysis →

Key strengths

  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.72), suggesting sticky customer base.
  • Cash Generation Consistent Cash generation is consistent (score 0.75), indicating reliable business model.

Key risks

  • Elevated Debt Risk Debt serviceability is weak (score 0.39), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
50
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where AMGN ranks in Drug Manufacturers - General

Amgen Inc. ranks #8 of 20 scored companies in Drug Manufacturers - General by moat score — the top 40%. The widest moat in the group is Novo Nordisk A/S (NVO) at 74/100.

# Company Moat score Rating
4 Merck & Company, Inc. MRK 67/100 Moderate
5 Johnson & Johnson JNJ 67/100 Moderate
6 Bristol-Myers Squibb Company BMY 66/100 Moderate
7 Biogen Inc. BIIB 61/100 Moderate
8 Amgen Inc. AMGN 55/100 Moderate
9 Sanofi SNY 54/100 Moderate
10 Astrazeneca PLC AZN 52/100 Moderate
11 GSK plc GSK 52/100 Moderate
12 Grifols, S.A. GRFS 50/100 Developing

See every Pharma / Mature Biotech company ranked by moat score →

How AMGN scores on the Corporate Default defenses

Pricing Power

Score 50 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 67 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 74 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 54 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 49 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 42 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding AMGN's moat

What is Amgen Inc.'s moat score?

Amgen Inc. (AMGN) scores 55 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #8 of 20 scored companies in Drug Manufacturers - General, the top 40%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 19 companies in Drug Manufacturers - General. Its strongest defense is Customer Stickiness (74/100) and its weakest is Scale & Market Position (42/100).

How does Amgen Inc. compare with other Drug Manufacturers - General companies?

Amgen Inc. ranks #8 of 20 scored companies in Drug Manufacturers - General by moat score. The widest moat in Drug Manufacturers - General is Novo Nordisk A/S (NVO) at 74/100. The companies ranked closest are Biogen Inc. (BIIB) at 61 just above it and Sanofi (SNY) at 54 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 19 companies in Drug Manufacturers - General. The defenses are then weighted to produce the overall score out of 100.

Why is Amgen Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Amgen Inc.?

The Corporate Default template measures 6 defenses, and AMGN scores: Pricing Power (50), Cost Advantage (67), Customer Stickiness (74), Capital Efficiency (54), Resilience (49), Scale & Market Position (42). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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