ASTRAZENECA PLC (AZNCF) Financials

AZNCF

FY2025 annual

Revenue $58.7B +8.6% YoY

Net Income $10.2B +45.3% YoY

Free Cash Flow $11.8B +18.4% YoY

Operating Cash Flow $14.6B +22.9% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Feb 24, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Feb 24, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AZNCF SEC filings page.

ASTRAZENECA PLC (AZNCF) reported $58.7B in revenue for fiscal year 2025, up 8.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AZNCF FY2025 2026-08-30

AstraZeneca’s dominant mechanic is cash-generative growth: rising profitability funds heavier reinvestment while leverage remains modest.

Between FY2023 and FY2025, net margin expanded to 17.4% as operating cash flow reached $14.6B, so the profit improvement was accompanied by cash rather than being purely accrual-driven. That alignment points to improving earnings quality: accounting gains are being converted into cash while the business expands its asset base.

Reinvestment is becoming more demanding: capital expenditures reached $2.8B in FY2025 versus $1.4B in FY2023. Yet free cash flow reached $11.8B, indicating higher reinvestment has not displaced internally generated cash.

The balance sheet is lightly debt-funded: long-term debt was $1.4B against total liabilities of $65.4B, so most obligations are not long-term borrowing. At a current ratio of 0.9x, current assets remained below current liabilities, making working-capital management more relevant than solvency leverage alone.

Financial Health Signals

Financial health score not available

ASTRAZENECA PLC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/7

ASTRAZENECA PLC passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.42x

For every $1 of reported earnings, ASTRAZENECA PLC generates $1.42 in operating cash flow ($14.6B OCF vs $10.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$5.7B

YoY+4.1%

QoQ-19.1%

ASTRAZENECA PLC held $5.7B in cash against $1.4B in long-term debt as of Q4 2025, with $30.6B of liabilities due within a year.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

AZNCF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AZNCF quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Revenue	$58.7B+8.6%	$54.1B+18.0%	$45.8B+3.3%	$44.4B+18.5%	$37.4B+40.6%	$26.6B+9.2%	$24.4B+10.4%	$22.1B-1.7%	$22.5B-2.3%	$23.0B-6.9%	$24.7B
Interest Expense	$80.0M+31.1%	$61.0M+84.8%	$33.0M+37.5%	$24.0M+9.1%	$22.0M+4.8%	$21.0M-4.5%	$22.0M+101.7%	-$1.3B+8.2%	-$1.4B-5.9%	-$1.3B-28.0%	-$1.0B
Income Tax	$2.2B+31.5%	$1.6B+75.9%	$938.0M+218.4%	-$792.0M-108.4%	-$380.0M-149.2%	$772.0M+140.5%	$321.0M+663.2%	-$57.0M+91.1%	-$641.0M-539.0%	$146.0M-39.9%	$243.0M
Net Income	$10.2B+45.3%	$7.0B+18.1%	$6.0B+81.0%	$3.3B+2763.5%	$115.0M-96.3%	$3.1B+156.2%	$1.2B-40.1%	$2.0B-28.5%	$2.9B-15.8%	$3.4B+20.5%	$2.8B
Diluted Shares (Avg)	1.56B-0.1%	1.56B+0.1%	1.56B+0.1%	1.56B+9.3%	1.43B+8.7%	1.31B+0.9%	1.30B+2.7%	1.27B0.0%	1.27B+0.1%	1.27B+0.1%	1.26B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$14.5B+11.7%	N/A	$12.9B+13.3%	N/A	$11.4B+6.0%	N/A	$10.8B+31.0%
Income Tax	N/A	$679.0M+44.8%	N/A	$469.0M+75.0%	N/A	$268.0M+337.2%	N/A	-$113.0M-152.8%
Net Income	N/A	$2.4B+27.0%	N/A	$1.9B+5.9%	N/A	$1.8B+405.6%	N/A	$360.0M-34.5%
Diluted Shares (Avg)	N/A	1.56B-0.1%	N/A	1.56B0.0%	N/A	1.56B0.0%	N/A	1.56B+18.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted).

AZNCF Balance Sheet

AZNCF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Total Assets	$114.1B+9.6%	$104.0B+2.9%	$101.1B+4.8%	$96.5B-8.4%	$105.4B+57.9%	$66.7B+8.7%	$61.4B+1.2%	$60.7B-4.3%	$63.4B+1.3%	$62.5B+4.1%	$60.1B
Current Assets	$28.7B+11.2%	$25.8B+3.1%	$25.1B+10.9%	$22.6B-13.9%	$26.2B+34.3%	$19.5B+25.6%	$15.6B-0.2%	$15.6B+18.6%	$13.2B-0.8%	$13.3B-17.1%	$16.0B
Cash & Equivalents	$5.7B+4.1%	$5.5B-6.0%	$5.8B-5.3%	$6.2B-2.6%	$6.3B-19.2%	$7.8B+45.9%	$5.4B+11.1%	$4.8B+45.3%	$3.3B-33.8%	$5.0B-19.6%	$6.2B
Inventory	$6.6B+24.0%	$5.3B-2.5%	$5.4B+15.4%	$4.7B-47.7%	$9.0B+123.2%	$4.0B+26.0%	$3.2B+10.5%	$2.9B-4.8%	$3.0B+30.0%	$2.3B+8.9%	$2.1B
Accounts Receivable	$15.2B+17.0%	$13.0B+7.0%	$12.1B+15.3%	$10.5B+9.1%	$9.6B+37.3%	$7.0B+21.9%	$5.8B+3.4%	$5.6B+11.3%	$5.0B+9.5%	$4.6B-30.9%	$6.6B
Goodwill	$21.2B+1.0%	$21.0B+4.9%	$20.0B+1.2%	$19.8B-0.9%	$20.0B+68.8%	$11.8B+1.5%	$11.7B-0.3%	$11.7B-1.0%	$11.8B+1.4%	$11.7B-1.2%	$11.8B
Total Liabilities	$65.4B+3.5%	$63.2B+2.0%	$62.0B+4.3%	$59.4B-10.1%	$66.1B+29.3%	$51.1B+9.2%	$46.8B+0.4%	$46.6B-0.2%	$46.7B+1.9%	$45.9B+10.4%	$41.5B
Current Liabilities	$30.6B+9.9%	$27.9B-8.8%	$30.5B+16.2%	$26.3B+16.4%	$22.6B+11.3%	$20.3B+12.1%	$18.1B+11.2%	$16.3B-0.6%	$16.4B+7.4%	$15.3B+2.6%	$14.9B
Non-Current Liabilities	$34.7B-1.6%	$35.3B+12.4%	$31.4B-5.2%	$33.1B-23.8%	$43.5B+41.2%	$30.8B+7.4%	$28.7B-5.4%	$30.3B0.0%	$30.3B-0.9%	$30.6B+14.7%	$26.7B
Long-Term Debt	$1.4B+27.7%	$1.1B+29.9%	$857.0M+18.2%	$725.0M-3.8%	$754.0M+54.2%	$489.0M+0.4%	$487.0M-97.5%	$19.1B+7.3%	$17.8B	N/A	N/A
Total Equity	$48.7B+19.2%	$40.9B+4.4%	$39.2B+5.7%	$37.1B-5.7%	$39.3B+151.2%	$15.6B+7.1%	$14.6B+3.9%	$14.0B-15.6%	$16.6B-0.2%	$16.7B-9.9%	$18.5B
Retained Earnings	$11.0B+247.2%	$3.2B+110.4%	$1.5B+361.7%	-$574.0M-133.6%	$1.7B-67.7%	$5.3B+88.4%	$2.8B-50.5%	$5.7B-30.9%	$8.2B+1.0%	$8.1B-31.2%	$11.8B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$114.1B+9.6%	$112.4B+7.7%	$104.0B+2.9%	$104.3B+8.1%	$101.1B+4.8%	$96.5B0.0%	$96.5B-8.4%	$96.6B+31.1%
Current Assets	$28.7B+11.2%	$28.9B+14.0%	$25.8B+3.1%	$25.4B+11.2%	$25.1B+10.9%	$22.8B+9.2%	$22.6B-13.9%	$20.9B-23.3%
Cash & Equivalents	$5.7B+4.1%	$7.1B+2.1%	$5.5B-6.0%	$6.9B+22.1%	$5.8B-5.3%	$5.7B+17.6%	$6.2B-2.6%	$4.8B-69.1%
Inventory	$6.6B+24.0%	$6.5B+14.1%	$5.3B-2.5%	$5.7B+12.2%	$5.4B+15.4%	$5.1B-18.8%	$4.7B-47.7%	$6.2B+30.6%
Accounts Receivable	$15.2B+17.0%	$14.2B+28.3%	$13.0B+7.0%	$11.0B-0.4%	$12.1B+15.3%	$11.1B+24.5%	$10.5B+9.1%	$8.9B+40.2%
Goodwill	$21.2B+1.0%	$21.2B+0.8%	$21.0B+4.9%	$21.1B+5.5%	$20.0B+1.2%	$20.0B+0.7%	$19.8B-0.9%	$19.8B+68.0%
Total Liabilities	$65.4B+3.5%	$67.6B+4.4%	$63.2B+2.0%	$64.7B+9.5%	$62.0B+4.3%	$59.1B-2.5%	$59.4B-10.1%	$60.6B+4.6%
Current Liabilities	$30.6B+9.9%	$33.5B+17.4%	$27.9B-8.8%	$28.6B+8.3%	$30.5B+16.2%	$26.4B+20.9%	$26.3B+16.4%	$21.8B-1.8%
Non-Current Liabilities	$34.7B-1.6%	$34.1B-5.8%	$35.3B+12.4%	$36.2B+10.5%	$31.4B-5.2%	$32.8B-15.6%	$33.1B-23.8%	$38.8B+8.6%
Long-Term Debt	$1.4B+27.7%	$1.3B+34.0%	$1.1B+29.9%	$949.0M+31.4%	$857.0M+18.2%	$722.0M+5.4%	$725.0M-3.8%	$685.0M+39.2%
Total Equity	$48.7B+19.2%	$44.8B+13.2%	$40.9B+4.4%	$39.6B+5.8%	$39.2B+5.7%	$37.4B+4.1%	$37.1B-5.7%	$36.0B+129.1%
Retained Earnings	$11.0B+247.2%	$7.0B+280.2%	$3.2B+110.4%	$1.8B+889.3%	$1.5B+361.7%	-$234.0M+85.9%	-$574.0M-133.6%	-$1.7B-131.1%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

AZNCF Cash Flow Statement

AZNCF quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Operating Cash Flow	$14.6B+22.9%	$11.9B+14.7%	$10.3B+5.5%	$9.8B+64.5%	$6.0B+24.3%	$4.8B+61.6%	$3.0B+13.4%	$2.6B-26.8%	$3.6B-13.7%	$4.1B+24.7%	$3.3B
Depreciation & Amortization	$5.7B-14.3%	$6.7B+24.2%	$5.4B-1.7%	$5.5B-16.1%	$6.5B+107.4%	$3.1B-16.3%	$3.8B+0.2%	$3.8B+23.6%	$3.0B+28.8%	$2.4B-17.4%	$2.9B
Capital Expenditures	$2.8B+46.0%	$1.9B+41.4%	$1.4B+24.7%	$1.1B0.0%	$1.1B+13.5%	$961.0M-1.8%	$979.0M-6.1%	$1.0B-21.3%	$1.3B-8.3%	$1.4B+8.9%	$1.3B
Free Cash Flow	$11.8B+18.4%	$9.9B+10.6%	$9.0B+3.1%	$8.7B+78.9%	$4.9B+26.9%	$3.8B+92.9%	$2.0B+26.3%	$1.6B-30.1%	$2.3B-16.6%	$2.7B+35.2%	$2.0B
Investing Cash Flow	-$6.8B+14.7%	-$8.0B-96.4%	-$4.1B-37.3%	-$3.0B+73.2%	-$11.1B-3780.0%	-$285.0M+56.6%	-$657.0M-168.2%	$963.0M+141.4%	-$2.3B+41.3%	-$4.0B+6.4%	-$4.2B
Financing Cash Flow	-$7.5B-88.8%	-$4.0B+39.2%	-$6.6B+3.8%	-$6.8B-287.0%	$3.6B+265.6%	-$2.2B-24.8%	-$1.8B+13.6%	-$2.0B+30.4%	-$2.9B-121.8%	-$1.3B-250.8%	$878.0M
Dividends Paid	$5.0B+7.4%	$4.6B+3.3%	$4.5B+2.7%	$4.4B+13.2%	$3.9B+8.0%	$3.6B-0.6%	$3.6B+3.1%	$3.5B-1.0%	$3.5B-1.2%	$3.6B+2.2%	$3.5B

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'23	Q2'23	Q4'22	Q2'22

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

AZNCF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AZNCF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Net Margin	17.4%+4.4pp	13.0%0.0pp	13.0%+5.6pp	7.4%+7.1pp	0.3%-11.5pp	11.8%+6.8pp	5.0%-4.3pp	9.3%-3.5pp	12.8%-2.0pp	14.8%+3.4pp	11.4%
Return on Equity	21.0%+3.8pp	17.2%+2.0pp	15.2%+6.3pp	8.9%+8.6pp	0.3%-19.8pp	20.1%+11.7pp	8.4%-6.2pp	14.6%-2.6pp	17.2%-3.2pp	20.4%+5.2pp	15.3%
Return on Assets	9.0%+2.2pp	6.8%+0.9pp	5.9%+2.5pp	3.4%+3.3pp	0.1%-4.6pp	4.7%+2.7pp	2.0%-1.4pp	3.4%-1.2pp	4.5%-0.9pp	5.5%+0.7pp	4.7%
Current Ratio	0.940.0x	0.93+0.1x	0.820.0x	0.86-0.3x	1.16+0.2x	0.96+0.1x	0.86-0.1x	0.96+0.2x	0.80-0.1x	0.87-0.2x	1.08
Debt-to-Equity	0.030.0x	0.030.0x	0.020.0x	0.020.0x	0.020.0x	0.030.0x	0.03-1.3x	1.36+0.3x	1.07-1.7x	2.75+0.5x	2.24
Asset Turnover	0.510.0x	0.52+0.1x	0.450.0x	0.46+0.1x	0.360.0x	0.400.0x	0.400.0x	0.360.0x	0.350.0x	0.370.0x	0.41
FCF Margin	20.0%+1.7pp	18.4%-1.2pp	19.6%0.0pp	19.7%+6.6pp	13.0%-1.4pp	14.4%+6.3pp	8.2%+1.0pp	7.1%-2.9pp	10.0%-1.7pp	11.7%+3.7pp	8.1%

Metric	Q4'2510-K	Q2'2510-Q	Q4'2410-K	Q2'2410-Q	Q4'23	Q2'23	Q4'22	Q2'22
Net Margin	N/A	16.9%+2.0pp	N/A	14.9%-1.0pp	N/A	15.9%+12.6pp	N/A	3.3%-3.4pp
Return on Equity	N/A	5.5%+0.6pp	N/A	4.9%0.0pp	N/A	4.9%+3.9pp	N/A	1.0%-2.5pp
Return on Assets	N/A	2.2%+0.3pp	N/A	1.8%0.0pp	N/A	1.9%+1.5pp	N/A	0.4%-0.4pp
Current Ratio	0.940.0x	0.860.0x	0.93+0.1x	0.890.0x	0.820.0x	0.87-0.1x	0.86-0.3x	0.96-0.3x
Debt-to-Equity	0.030.0x	0.030.0x	0.030.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x	0.020.0x
Asset Turnover	N/A	0.130.0x	N/A	0.120.0x	N/A	0.120.0x	N/A	0.110.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Where ASTRAZENECA PLC Ranks

Frequently Asked Questions

What is ASTRAZENECA PLC's annual revenue?

ASTRAZENECA PLC (AZNCF) reported $58.7B in total revenue for fiscal year 2025. This represents a 8.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ASTRAZENECA PLC's revenue growing?

ASTRAZENECA PLC (AZNCF) revenue grew by 8.6% year-over-year, from $54.1B to $58.7B in fiscal year 2025.

Is ASTRAZENECA PLC profitable?

Yes, ASTRAZENECA PLC (AZNCF) reported a net income of $10.2B in fiscal year 2025, with a net profit margin of 17.4%.

How much debt does ASTRAZENECA PLC have?

As of fiscal year 2025, ASTRAZENECA PLC (AZNCF) had $5.7B in cash and equivalents against $1.4B in long-term debt.

What is ASTRAZENECA PLC's net profit margin?

ASTRAZENECA PLC (AZNCF) had a net profit margin of 17.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ASTRAZENECA PLC's return on equity (ROE)?

ASTRAZENECA PLC (AZNCF) has a return on equity of 21.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ASTRAZENECA PLC's free cash flow?

ASTRAZENECA PLC (AZNCF) generated $11.8B in free cash flow during fiscal year 2025. This represents a 18.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ASTRAZENECA PLC's operating cash flow?

ASTRAZENECA PLC (AZNCF) generated $14.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ASTRAZENECA PLC's total assets?

ASTRAZENECA PLC (AZNCF) had $114.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are ASTRAZENECA PLC's capital expenditures?

ASTRAZENECA PLC (AZNCF) invested $2.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is ASTRAZENECA PLC's current ratio?

ASTRAZENECA PLC (AZNCF) had a current ratio of 0.94 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is ASTRAZENECA PLC's debt-to-equity ratio?

ASTRAZENECA PLC (AZNCF) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ASTRAZENECA PLC's return on assets (ROA)?

ASTRAZENECA PLC (AZNCF) had a return on assets of 9.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ASTRAZENECA PLC's Piotroski F-Score?

ASTRAZENECA PLC (AZNCF) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ASTRAZENECA PLC's earnings high quality?

ASTRAZENECA PLC (AZNCF) has an earnings quality ratio of 1.42x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.