What Does Amgen's Debt Look Like?
Portfolio Pulse from Benzinga Insights
Amgen Inc.'s (NASDAQ:AMGN) shares have dropped by 12.70% over the past three months. The company's total debt stands at $61.59 billion, with $60.76 billion in long-term debt and $834.00 million in current debt. After adjusting for $31.56 billion in cash-equivalents, the net debt is $30.04 billion. The debt-ratio, a measure of financial leverage, is at 0.69 considering Amgen's $88.72 billion in total assets.
July 07, 2023 | 5:15 pm
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Amgen's high debt levels could be a concern for investors, potentially contributing to the recent drop in share price. The debt-ratio of 0.69 indicates a significant level of financial leverage.
High levels of debt can increase a company's financial risk, particularly if interest rates rise. This could negatively impact Amgen's share price in the short term.
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