AstraZeneca
AZN NYSE Pharmaceuticals Financials FY2016βFY2025
AstraZeneca's revenue rose 8.6% to $58.7 billion in fiscal 2025. Its operating margin was 23.4%, up from 18.5% a year earlier. Free cash flow was $11.8 billion, up 18.4%. It paid out $5.5 billion in dividends and buybacks, 47% of free cash flow.
Last close Β· Oct 23, 2026
$171.49
οΏ½οΏ½
Revenue
Total sales reported in the income statement.
$58.7B
8.6%
vs prior year
Operating margin
Operating income as a share of revenue.
23.4%
4.9 pts
Net income
Profit after all expenses, interest and tax.
$10.2B
45.3%
Free cash flow
Cash from operations minus capital spending.
$11.8B
18.4%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
16.8%
3.8 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$267.9B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
About these figures. AstraZeneca is a foreign company: it files an annual report on Form 20-F, prepared under international accounting standards (IFRS), instead of a 10-K, and no quarterly reports, so this page has fiscal years only. Its shares trade in the US as American depositary shares (ADSs), and one ADS can stand for several ordinary shares, so per-share figures are per ordinary share and the page has no market value, P/E or valuation model.
What AstraZeneca does
No business description yet.
- Legal name
- ASTRAZENECA PLC
- Fiscal year ends
- December 31, 2025
- Latest annual report
- β
- Accession Β· CIK
- 0001104659-26-019130
0000901832
Revenue and margins
AstraZeneca had $58.7B of revenue in fiscal 2025, up 8.6% on the year before.
FY16
Revenue $23.0B
FY17
Revenue $22.5B
FY18
Revenue $22.1B
FY19
Revenue $24.4B
FY20
Revenue $26.6B
FY21
Revenue $37.4B
FY22
Revenue $44.4B
FY23
Revenue $45.8B
FY24
Revenue $54.1B
FY25
Revenue $58.7B
FY16
Gross 82.1%
Operating 21.3%
Net 15.2%
FCF 11.7%
FY17
Gross 80.8%
Operating 16.4%
Net 13.4%
FCF 10.0%
FY18
Gross 77.7%
Operating 15.3%
Net 9.8%
FCF 7.1%
FY19
Gross 79.8%
Operating 12.0%
Net 5.5%
FCF 8.2%
FY20
Gross 80.1%
Operating 19.4%
Net 12.0%
FCF 14.4%
FY21
Gross 66.8%
Operating 2.8%
Net 0.3%
FCF 13.0%
FY22
Gross 72.1%
Operating 8.5%
Net 7.4%
FCF 19.7%
FY23
Gross 82.0%
Operating 17.9%
Net 13.0%
FCF 19.6%
FY24
Gross 81.1%
Operating 18.5%
Net 13.0%
FCF 18.4%
FY25
Gross 81.9%
Operating 23.4%
Net 17.4%
FCF 20.0%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 10.1% a year. Loss periods are shown in red.
FY16
Net income $3.5B
FY17
Net income $3.0B
FY18
Net income $2.2B
FY19
Net income $1.3B
FY20
Net income $3.2B
FY21
Net income $112M
FY22
Net income $3.3B
FY23
Net income $6.0B
FY24
Net income $7.0B
FY25
Net income $10.2B
FY16
Diluted EPS $2.76
FY17
Diluted EPS $2.37
FY18
Diluted EPS $1.70
FY19
Diluted EPS $1.03
FY20
Diluted EPS $2.44
FY21
Diluted EPS $0.08
FY22
Diluted EPS $2.11
FY23
Diluted EPS $3.81
FY24
Diluted EPS $4.50
FY25
Diluted EPS $6.54
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 17.3%
Return on equity 21.0%
Return on assets 5.7%
FY17
Return on capital 12.8%
Return on equity 20.1%
Return on assets 4.8%
FY18
Return on capital 11.8%
Return on equity 15.7%
Return on assets 3.5%
FY19
Return on capital 8.7%
Return on equity 10.4%
Return on assets 2.2%
FY20
Return on capital 15.6%
Return on equity 22.2%
Return on assets 5.0%
FY21
Return on capital 1.9%
Return on equity 0.4%
Return on assets 0.1%
FY22
Return on capital 6.2%
Return on equity 8.6%
Return on assets 3.3%
FY23
Return on capital 11.8%
Return on equity 15.6%
Return on assets 6.0%
FY24
Return on capital 13.0%
Return on equity 17.6%
Return on assets 6.9%
FY25
Return on capital 16.8%
Return on equity 22.9%
Return on assets 9.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $11.8B in fiscal 2025, 20.0% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $2.7B
FY17
Free cash flow $2.3B
FY18
Free cash flow $1.6B
FY19
Free cash flow $2.0B
FY20
Free cash flow $3.8B
FY21
Free cash flow $4.9B
FY22
Free cash flow $8.7B
FY23
Free cash flow $9.0B
FY24
Free cash flow $9.9B
FY25
Free cash flow $11.8B
FY16
Cash from operations $4.1B
Capital spending $1.4B
FY17
Cash from operations $3.6B
Capital spending $1.3B
FY18
Cash from operations $2.6B
Capital spending $1.0B
FY19
Cash from operations $3.0B
Capital spending $979M
FY20
Cash from operations $4.8B
Capital spending $961M
FY21
Cash from operations $6.0B
Capital spending $1.1B
FY22
Cash from operations $9.8B
Capital spending $1.1B
FY23
Cash from operations $10.3B
Capital spending $1.4B
FY24
Cash from operations $11.9B
Capital spending $1.9B
FY25
Cash from operations $14.6B
Capital spending $2.8B
Cash from operations
Capital spending
Dividends, buybacks and share count
AstraZeneca returned $5.5B to shareholders in fiscal 2025, 47% of free cash flow. The diluted share count fell 0.1%.
FY16
Dividends $3.6B
Buybacks $0.0M
FY17
Dividends $3.5B
Buybacks $0.0M
FY18
Dividends $3.5B
Buybacks $0.0M
FY19
Dividends $3.6B
Buybacks $0.0M
FY20
Dividends $3.6B
Buybacks $0.0M
FY21
Dividends $3.9B
Buybacks $149M
FY22
Dividends $4.4B
Buybacks $0.0M
FY23
Dividends $4.5B
Buybacks $0.0M
FY24
Dividends $4.6B
Buybacks $81.0M
FY25
Dividends $5.0B
Buybacks $521M
Dividends
Buybacks
FY16
Diluted shares 1.27B
FY17
Diluted shares 1.27B
FY18
Diluted shares 1.27B
FY19
Diluted shares 1.30B
FY20
Diluted shares 1.31B
FY21
Diluted shares 1.43B
FY22
Diluted shares 1.56B
FY23
Diluted shares 1.56B
FY24
Diluted shares 1.56B
FY25
Diluted shares 1.56B
Balance sheet
Cash, debt and the ratios that show how comfortably AstraZeneca can carry it.
FY16
Cash $5.9B
Debt $16.8B
FY17
Cash $4.6B
Debt $17.8B
FY18
Cash $5.7B
Debt $19.1B
FY19
Cash $6.2B
Debt $17.6B
FY20
Cash $8.0B
Debt $19.7B
FY21
Cash $6.4B
Debt $29.8B
FY22
Cash $6.4B
Debt $28.3B
FY23
Cash $6.0B
Debt $27.5B
FY24
Cash $5.7B
Debt $28.8B
FY25
Cash $5.7B
Debt $27.8B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $6.4B | $6.4B | $6.0B | $5.7B | $5.7B |
| Debt incl. finance leases | $29.8B | $28.3B | $27.5B | $28.8B | $27.8B |
| Debt / equity | 0.8x | 0.8x | 0.7x | 0.7x | 0.6x |
| Interest coverage | 0.8x | 2.8x | 5.0x | 5.7x | 8.1x |
| Current ratio | 1.2x | 0.9x | 0.8x | 0.9x | 0.9x |
| Quick ratio | 0.8x | 0.7x | 0.6x | 0.7x | 0.7x |
| Total assets | $105.4B | $96.5B | $101.1B | $104.0B | $114.1B |
| Total liabilities | $66.1B | $59.4B | $62.0B | $63.2B | $65.4B |
| Shareholders' equity | $39.3B | $37.0B | $39.1B | $40.8B | $48.7B |
| Net debt (β = net cash) | $23.4B | $21.9B | $21.5B | $23.2B | $22.1B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | 7 / 9 | 6 / 9 | 9 / 9 |
| Accruals ratio | β4.4% | β4.7% | β4.0% |
| Altman Z'' | 0.90 | 1.30 | 1.80 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| AstraZeneca AZN | $267.9B | 8.6% | 23.4% | 20.0% | 16.8% | β | 9 | |
| Pfizer PFE | $171.1B | β1.7% | β | 14.5% | 7.3% | 39.5x | 6 | Compare β |
| Merck MRK | $358.8B | 1.3% | β | 19.0% | 24.8% | 115.3x | 4 | Compare β |
| Eli Lilly LLY | $1.14T | 44.7% | β | 13.8% | 40.8% | 42.7x | 8 | Compare β |
| Bristol Myers Squibb BMY | $125.9B | β0.2% | β | 26.7% | 15.2% | 13.5x | 8 | Compare β |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $23.0B | $22.5B | $22.1B | $24.4B | $26.6B | $37.4B | $44.4B | $45.8B | $54.1B | $58.7B |
| Gross profit | $18.9B | $18.1B | $17.2B | $19.5B | $21.3B | $25.0B | $32.0B | $37.5B | $43.9B | $48.1B |
| Research and development | $5.9B | $5.8B | $5.9B | $6.1B | $6.0B | $9.7B | $9.8B | $10.9B | $13.6B | $14.2B |
| Operating income | $4.9B | $3.7B | $3.4B | $2.9B | $5.2B | $1.1B | $3.8B | $8.2B | $10.0B | $13.7B |
| Interest expense | $1.4B | $1.5B | $1.4B | $1.4B | $1.3B | $1.3B | $1.3B | $1.6B | $1.7B | $1.7B |
| Pretax income | $3.6B | $2.2B | $2.0B | $1.5B | $3.9B | β$265M | $2.5B | $6.9B | $8.7B | $12.4B |
| Income tax | $146M | β$641M | β$57.0M | $321M | $772M | β$380M | β$792M | $938M | $1.7B | $2.2B |
| Net income | $3.5B | $3.0B | $2.2B | $1.3B | $3.2B | $112M | $3.3B | $6.0B | $7.0B | $10.2B |
| Diluted EPS | $2.76 | $2.37 | $1.70 | $1.03 | $2.44 | $0.08 | $2.11 | $3.81 | $4.50 | $6.54 |
| Diluted shares | 1.27B | 1.27B | 1.27B | 1.30B | 1.31B | 1.43B | 1.56B | 1.56B | 1.56B | 1.56B |
| Cash flow | ||||||||||
| Cash from operations | $4.1B | $3.6B | $2.6B | $3.0B | $4.8B | $6.0B | $9.8B | $10.3B | $11.9B | $14.6B |
| Capital expenditure | $1.4B | $1.3B | $1.0B | $979M | $961M | $1.1B | $1.1B | $1.4B | $1.9B | $2.8B |
| Free cash flow | $2.7B | $2.3B | $1.6B | $2.0B | $3.8B | $4.9B | $8.7B | $9.0B | $9.9B | $11.8B |
| Stock-based compensation | $241M | $220M | $219M | $259M | $277M | $615M | $619M | $579M | $660M | $719M |
| Acquisitions | $2.6B | $1.5B | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $149M | $0.0M | $0.0M | $81.0M | $521M |
| Dividends paid | $3.6B | $3.5B | $3.5B | $3.6B | $3.6B | $3.9B | $4.4B | $4.5B | $4.6B | $5.0B |
| Dividends and buybacks | $3.6B | $3.5B | $3.5B | $3.6B | $3.6B | $4.0B | $4.4B | $4.5B | $4.7B | $5.5B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $5.9B | $4.6B | $5.7B | $6.2B | $8.0B | $6.4B | $6.4B | $6.0B | $5.7B | $5.7B |
| Total debt | $16.8B | $17.8B | $19.1B | $17.6B | $19.7B | $29.8B | $28.3B | $27.5B | $28.8B | $27.8B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $13.3B | $13.2B | $15.6B | $15.6B | $19.5B | $26.2B | $22.6B | $25.1B | $25.8B | $28.7B |
| Current liabilities | $15.3B | $16.4B | $16.3B | $18.1B | $20.3B | $22.6B | $26.3B | $30.5B | $27.9B | $30.6B |
| Inventory | $2.3B | $3.0B | $2.9B | $3.2B | $4.0B | $9.0B | $4.7B | $5.4B | $5.3B | $6.6B |
| Property and equipment, net | $6.8B | $7.6B | $7.4B | $7.7B | $8.3B | $9.2B | $8.5B | $9.4B | $10.3B | $13.0B |
| Total assets | $62.5B | $63.4B | $60.7B | $61.4B | $66.7B | $105.4B | $96.5B | $101.1B | $104.0B | $114.1B |
| Total liabilities | $45.9B | $46.7B | $46.6B | $46.8B | $51.1B | $66.1B | $59.4B | $62.0B | $63.2B | $65.4B |
| Shareholders' equity | $14.9B | $15.0B | $12.5B | $13.1B | $15.6B | $39.3B | $37.0B | $39.1B | $40.8B | $48.7B |
| Margins | ||||||||||
| Gross margin | 82.1% | 80.8% | 77.7% | 79.8% | 80.1% | 66.8% | 72.1% | 82.0% | 81.1% | 81.9% |
| Operating margin | 21.3% | 16.4% | 15.3% | 12.0% | 19.4% | 2.8% | 8.5% | 17.9% | 18.5% | 23.4% |
| Net margin | 15.2% | 13.4% | 9.8% | 5.5% | 12.0% | 0.3% | 7.4% | 13.0% | 13.0% | 17.4% |
| FCF margin | 11.7% | 10.0% | 7.1% | 8.2% | 14.4% | 13.0% | 19.7% | 19.6% | 18.4% | 20.0% |
| Returns | ||||||||||
| Return on capital | 17.3% | 12.8% | 11.8% | 8.7% | 15.6% | 1.9% | 6.2% | 11.8% | 13.0% | 16.8% |
| Return on capital employed | 10.6% | 7.8% | 7.4% | 6.7% | 11.5% | 1.6% | 4.9% | 11.6% | 13.6% | 17.2% |
| Return on equity | 21.0% | 20.1% | 15.7% | 10.4% | 22.2% | 0.4% | 8.6% | 15.6% | 17.6% | 22.9% |
| Return on assets | 5.7% | 4.8% | 3.5% | 2.2% | 5.0% | 0.1% | 3.3% | 6.0% | 6.9% | 9.4% |
| Growth | ||||||||||
| Revenue growth | β6.9% | β2.3% | β1.7% | 10.4% | 9.2% | 40.6% | 18.5% | 3.3% | 18.0% | 8.6% |
| Net income growth | 23.9% | β14.2% | β28.2% | β38.1% | 139.4% | β96.5% | 2,835.7% | 81.1% | 18.1% | 45.3% |
| EPS growth | 23.8% | β14.1% | β28.3% | β39.4% | 136.9% | β96.7% | 2,537.5% | 80.6% | 18.1% | 45.3% |
| FCF growth | 35.2% | β16.6% | β30.1% | 26.4% | 92.9% | 26.9% | 78.9% | 3.1% | 10.6% | 18.4% |
| Share count change | 0.1% | 0.1% | 0.0% | 2.7% | 0.9% | 8.7% | 9.3% | 0.1% | 0.1% | β0.1% |
| Financial health | ||||||||||
| Debt / equity | 1.1x | 1.2x | 1.5x | 1.3x | 1.3x | 0.8x | 0.8x | 0.7x | 0.7x | 0.6x |
| Interest coverage | 3.5x | 2.4x | 2.4x | 2.0x | 4.0x | 0.8x | 2.8x | 5.0x | 5.7x | 8.1x |
| Current ratio | 0.9x | 0.8x | 1.0x | 0.9x | 1.0x | 1.2x | 0.9x | 0.8x | 0.9x | 0.9x |
| Quick ratio | 0.7x | 0.6x | 0.8x | 0.7x | 0.8x | 0.8x | 0.7x | 0.6x | 0.7x | 0.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 6.3% | 5.9% | 4.7% | 4.0% | 3.6% | 2.9% | 2.5% | 3.0% | 3.6% | 4.8% |
| Stock comp / revenue | 1.1% | 1.0% | 1.0% | 1.1% | 1.0% | 1.6% | 1.4% | 1.3% | 1.2% | 1.2% |
| Payouts / FCF | 131.9% | 156.3% | 221.2% | 180.5% | 93.1% | 82.2% | 50.1% | 49.9% | 47.4% | 46.7% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 5.0 | 6.0 | 7.0 | 5.0 | 6.0 | 7.0 | 6.0 | 9.0 |
| Altman Z'' | 1.1 | 0.9 | 0.9 | 0.5 | 1.0 | 1.0 | 0.7 | 0.9 | 1.3 | 1.8 |
| Accruals ratio | β1.1% | β0.9% | β0.8% | β2.7% | β2.5% | β6.8% | β6.5% | β4.4% | β4.7% | β4.0% |
Source: SEC EDGAR XBRL filings (CIK 0000901832). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.