AMGN vs. PG

Last updated Jun 6, 2026

AMGN (Amgen Inc.) and PG (The Procter & Gamble Company) are both stocks. AMGN operates in Drug Manufacturers - General (Healthcare), while PG operates in Household & Personal Products (Consumer Defensive). Over the past 10 years, AMGN returned 11.48%/yr vs 8.86%/yr for PG. At a 0.27 correlation, their price movements are largely independent.

Performance

AMGN vs. PG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amgen Inc. (AMGN) and The Procter & Gamble Company (PG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMGN achieves a 8.36% return, which is significantly higher than PG's 3.75% return. Over the past 10 years, AMGN has outperformed PG with an annualized return of 11.48%, while PG has yielded a comparatively lower 8.86% annualized return.

AMGN

• 1D: 1.15%
• 1M: 6.38%
• YTD: 8.36%
• 6M: 7.51%
• 1Y: 25.42%
• 3Y*: 20.11%
• 5Y*: 11.56%
• 10Y*: 11.48%

PG

• 1D: 4.09%
• 1M: -0.92%
• YTD: 3.75%
• 6M: 3.65%
• 1Y: -7.40%
• 3Y*: 3.11%
• 5Y*: 4.13%
• 10Y*: 8.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMGN vs. PG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMGN Amgen Inc.	8.36%	29.67%	-6.77%	13.46%	20.43%	0.87%	-1.99%	27.60%	15.23%	22.27%
PG The Procter & Gamble Company	3.75%	-12.26%	17.25%	-0.86%	-5.05%	20.52%	14.15%	39.70%	3.57%	12.69%

Correlation

The correlation between AMGN and PG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Sep 10, 1984	0.27

Fundamentals

Market Cap AMGN : $190.17B PG : $354.11B
EPS AMGN : $14.38 PG : $5.23
PE Ratio AMGN : 24.31 PG : 28.04
PEG Ratio AMGN : 1.40 PG : 6.86
PS Ratio AMGN : 5.09 PG : 4.11
PB Ratio AMGN : 20.69 PG : 6.56
Total Revenue (TTM) AMGN : $37.24B PG : $86.72B
Gross Profit (TTM) AMGN : $26.61B PG : $43.64B
EBITDA (TTM) AMGN : $17.27B PG : $22.63B

Return for Risk

AMGN vs. PG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMGN

AMGN Risk / Return Rank: 68
AMGN Sharpe Ratio Rank: 70
AMGN Sortino Ratio Rank: 66
AMGN Omega Ratio Rank: 64
AMGN Calmar Ratio Rank: 69
AMGN Martin Ratio Rank: 69

PG

PG Risk / Return Rank: 23
PG Sharpe Ratio Rank: 24
PG Sortino Ratio Rank: 21
PG Omega Ratio Rank: 22
PG Calmar Ratio Rank: 25
PG Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMGN vs. PG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amgen Inc. (AMGN) and The Procter & Gamble Company (PG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMGN	PG	Difference
Sharpe ratio: Return per unit of total volatility	0.93	-0.40	+1.33
Sortino ratio: Return per unit of downside risk	1.53	-0.45	+1.99
Omega ratio: Gain probability vs. loss probability	1.19	0.95	+0.24
Calmar ratio: Return relative to maximum drawdown	1.54	-0.48	+2.02
Martin ratio: Return relative to average drawdown	3.61	-0.83	+4.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMGN vs. PG - Sharpe Ratio Comparison

The current AMGN Sharpe Ratio is 0.93, which is higher than the PG Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of AMGN and PG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMGN	PG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	-0.40	+1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.23	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.47	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.46	+0.15

Drawdowns

AMGN vs. PG - Drawdown Comparison

The maximum AMGN drawdown since its inception was -63.48%, which is greater than PG's maximum drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for AMGN and PG.

Drawdown Indicators

	AMGN	PG	Difference
Max Drawdown Largest peak-to-trough decline	-63.48%	-54.25%	-9.23%
Max Drawdown (1Y) Largest decline over 1 year	-16.57%	-15.52%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-22.74%	-21.15%	-1.59%
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	-23.77%	-1.09%
Max Drawdown (10Y) Largest decline over 10 years	-24.86%	-23.77%	-1.09%
Current Drawdown Current decline from peak	-9.26%	-15.07%	+5.81%
Average Drawdown Average peak-to-trough decline	-16.78%	-12.16%	-4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.06%	8.89%	-1.83%

Volatility

AMGN vs. PG - Volatility Comparison

The current volatility for Amgen Inc. (AMGN) is 6.28%, while The Procter & Gamble Company (PG) has a volatility of 7.05%. This indicates that AMGN experiences smaller price fluctuations and is considered to be less risky than PG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMGN	PG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.28%	7.05%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	19.17%	15.31%	+3.86%
Volatility (1Y) Calculated over the trailing 1-year period	27.32%	18.70%	+8.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.88%	17.79%	+6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.81%	19.04%	+5.77%

Dividends

AMGN vs. PG - Dividend Comparison

AMGN's dividend yield for the trailing twelve months is around 2.80%, less than PG's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMGN Amgen Inc.	2.80%	2.91%	3.45%	2.96%	2.95%	3.13%	2.78%	2.41%	2.71%	2.65%	2.74%	1.95%
PG The Procter & Gamble Company	2.91%	2.91%	2.36%	2.55%	2.38%	2.08%	2.24%	2.37%	3.09%	2.98%	3.18%	3.31%

Financials

AMGN vs. PG - Profitability Comparison

The chart below illustrates the profitability comparison between Amgen Inc. and The Procter & Gamble Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AMGN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Amgen Inc. reported a gross profit of 5.87B and revenue of 8.62B. Therefore, the gross margin over that period was 68.2%.

PG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Procter & Gamble Company reported a gross profit of 10.51B and revenue of 21.24B. Therefore, the gross margin over that period was 49.5%.

AMGN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Amgen Inc. reported an operating income of 2.67B and revenue of 8.62B, resulting in an operating margin of 30.9%.

PG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Procter & Gamble Company reported an operating income of 4.58B and revenue of 21.24B, resulting in an operating margin of 21.6%.

AMGN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Amgen Inc. reported a net income of 1.82B and revenue of 8.62B, resulting in a net margin of 21.1%.

PG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Procter & Gamble Company reported a net income of 18.50M and revenue of 21.24B, resulting in a net margin of 0.1%.

Frequently Asked Questions

Can I hold both AMGN and PG in my portfolio?

AMGN and PG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMGN or PG?

PG has higher volatility (7.05%) compared to AMGN (6.28%). In terms of maximum drawdown, AMGN dropped -63.48% vs PG's -54.25%.

Which has better risk-adjusted returns?

AMGN currently has the higher Sharpe Ratio (0.93 vs -0.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.