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Side-by-side financial comparison of Aardvark Therapeutics, Inc. (AARD) and Amgen (AMGN). Click either name above to swap in a different company.
Aardvark Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel targeted therapies for inflammatory, metabolic, and orphan diseases. It advances G-protein coupled receptor-targeting pipeline candidates, serving patient populations primarily in North America and global markets via R&D partnerships.
Amgen Inc. is an American multinational biopharmaceutical company headquartered in Thousand Oaks, California. The company is ranked 18th on the list of largest biomedical companies by revenue. The name "AMGen" is a portmanteau of the company's original name, Applied Molecular Genetics.
AARD vs AMGN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $0 | $9.9B |
| Net Profit | $-17.6M | $1.3B |
| Gross Margin | — | 69.8% |
| Operating Margin | — | 27.6% |
| Net Margin | — | 13.5% |
| Revenue YoY | — | 8.6% |
| Net Profit YoY | — | 112.6% |
| EPS (diluted) | $-0.81 | $2.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $0 | $9.9B | ||
| Q3 25 | $0 | $9.6B | ||
| Q2 25 | $0 | $9.2B | ||
| Q1 25 | $0 | $8.1B | ||
| Q4 24 | — | $9.1B | ||
| Q3 24 | — | $8.5B | ||
| Q2 24 | — | $8.4B | ||
| Q1 24 | — | $7.4B |
| Q4 25 | $-17.6M | $1.3B | ||
| Q3 25 | $-16.3M | $3.2B | ||
| Q2 25 | $-14.4M | $1.4B | ||
| Q1 25 | $-9.3M | $1.7B | ||
| Q4 24 | — | $627.0M | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $746.0M | ||
| Q1 24 | — | $-113.0M |
| Q4 25 | — | 69.8% | ||
| Q3 25 | — | 67.8% | ||
| Q2 25 | — | 67.2% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 65.7% | ||
| Q3 24 | — | 61.1% | ||
| Q2 24 | — | 61.4% | ||
| Q1 24 | — | 57.0% |
| Q4 25 | — | 27.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 28.9% | ||
| Q1 25 | — | 14.5% | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 24.1% | ||
| Q2 24 | — | 22.8% | ||
| Q1 24 | — | 13.3% |
| Q4 25 | — | 13.5% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | — | 33.3% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | — | -1.5% |
| Q4 25 | $-0.81 | $2.45 | ||
| Q3 25 | $-0.75 | $5.93 | ||
| Q2 25 | $-0.66 | $2.65 | ||
| Q1 25 | $-0.71 | $3.20 | ||
| Q4 24 | — | $1.17 | ||
| Q3 24 | — | $5.22 | ||
| Q2 24 | — | $1.38 | ||
| Q1 24 | — | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $110.0M | $9.1B |
| Total DebtLower is stronger | — | $54.6B |
| Stockholders' EquityBook value | $106.6M | $8.7B |
| Total Assets | $117.2M | $90.6B |
| Debt / EquityLower = less leverage | — | 6.31× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $9.1B | ||
| Q3 25 | $126.3M | $9.4B | ||
| Q2 25 | $141.8M | $8.0B | ||
| Q1 25 | $151.3M | $8.8B | ||
| Q4 24 | — | $12.0B | ||
| Q3 24 | — | $9.0B | ||
| Q2 24 | — | $9.3B | ||
| Q1 24 | — | $9.7B |
| Q4 25 | — | $54.6B | ||
| Q3 25 | — | $54.6B | ||
| Q2 25 | — | $56.2B | ||
| Q1 25 | — | $57.4B | ||
| Q4 24 | — | $60.1B | ||
| Q3 24 | — | $60.4B | ||
| Q2 24 | — | $62.6B | ||
| Q1 24 | — | $64.0B |
| Q4 25 | $106.6M | $8.7B | ||
| Q3 25 | $122.4M | $9.6B | ||
| Q2 25 | $136.9M | $7.4B | ||
| Q1 25 | $150.7M | $6.2B | ||
| Q4 24 | — | $5.9B | ||
| Q3 24 | — | $7.5B | ||
| Q2 24 | — | $5.9B | ||
| Q1 24 | — | $5.0B |
| Q4 25 | $117.2M | $90.6B | ||
| Q3 25 | $133.2M | $90.1B | ||
| Q2 25 | $147.5M | $87.9B | ||
| Q1 25 | $157.0M | $89.4B | ||
| Q4 24 | — | $91.8B | ||
| Q3 24 | — | $90.9B | ||
| Q2 24 | — | $90.9B | ||
| Q1 24 | — | $93.0B |
| Q4 25 | — | 6.31× | ||
| Q3 25 | — | 5.67× | ||
| Q2 25 | — | 7.57× | ||
| Q1 25 | — | 9.24× | ||
| Q4 24 | — | 10.23× | ||
| Q3 24 | — | 8.02× | ||
| Q2 24 | — | 10.57× | ||
| Q1 24 | — | 12.75× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-16.8M | $1.6B |
| Free Cash FlowOCF − Capex | — | $961.0M |
| FCF MarginFCF / Revenue | — | 9.7% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | — | 1.20× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.8M | $1.6B | ||
| Q3 25 | $-16.1M | $4.7B | ||
| Q2 25 | $-9.8M | $2.3B | ||
| Q1 25 | $-11.4M | $1.4B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $689.0M |
| Q4 25 | — | $961.0M | ||
| Q3 25 | $-16.1M | $4.2B | ||
| Q2 25 | $-9.9M | $1.9B | ||
| Q1 25 | — | $980.0M | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $459.0M |
| Q4 25 | — | 9.7% | ||
| Q3 25 | — | 44.4% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | — | 12.0% | ||
| Q4 24 | — | 48.4% | ||
| Q3 24 | — | 39.0% | ||
| Q2 24 | — | 26.5% | ||
| Q1 24 | — | 6.2% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 3.1% |
| Q4 25 | — | 1.20× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 1.59× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 7.61× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | 3.30× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AARD
Segment breakdown not available.
AMGN
| Products | $9.4B | 95% |
| Xgeva | $291.0M | 3% |
| Vectibix | $163.0M | 2% |
| Aranesp | $115.0M | 1% |
