AstraZeneca Financials

AZNCF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows AstraZeneca (AZNCF) financial statements, including the 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 2026-04-22

AstraZeneca’s profit recovery has matured into a cash engine, while the balance sheet stays lightly levered instead of debt-fueled.

Net margin moved from 0.3% in FY2021 to 17.4% in FY2025. In the latest year, free cash flow of $11.8B exceeded net income of $10.2B, which suggests the earnings rebound was matched by real cash collection and cost absorption rather than resting mainly on non-cash accounting effects.

The current ratio stayed below 1.0x from FY2022 through FY2025, yet debt to equity was only 0.03x in the latest year. That combination implies short-term liquidity is being managed through recurring operating inflow and normal working-capital turnover, a posture more consistent with an established cash generator than with a business depending on fresh borrowing to stay flexible.

Cash on hand stayed near $5.7B in FY2025 even as operating cash flow climbed to $14.6B. That flat cash balance, despite stronger operations, indicates management is actively redirecting surplus cash into reinvestment and shareholder payouts rather than letting liquidity build passively on the balance sheet.

Financial Health Signals

Financial Profile 49/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of AstraZeneca's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

AstraZeneca's revenue grew 8.6% year-over-year to $58.7B, a solid pace of expansion. This earns a growth score of 55/100.

Leverage

100

AstraZeneca carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

AstraZeneca's current ratio of 0.94 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

AstraZeneca converts 20.0% of revenue into free cash flow ($11.8B). This strong cash generation earns a score of 74/100.

Returns

AstraZeneca's ROE of 21.0% shows moderate profitability relative to equity, earning a score of 53/100. This is up from 17.2% the prior year.

Piotroski F-Score Neutral

5/9

AstraZeneca passes 5 of 9 financial strength tests. 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 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

Revenue

$58.7B

YoY+8.6%

5Y CAGR+17.2%

10Y CAGR+9.0%

AstraZeneca generated $58.7B in revenue in fiscal year 2025. This represents an increase of 8.6% from the prior year.

EBITDA

N/A

Net Income

$10.2B

YoY+45.3%

5Y CAGR+26.6%

10Y CAGR+13.7%

AstraZeneca reported $10.2B in net income in fiscal year 2025. This represents an increase of 45.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$11.8B

YoY+18.4%

5Y CAGR+25.1%

10Y CAGR+19.4%

AstraZeneca generated $11.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 18.4% from the prior year.

Cash & Debt

$5.7B

YoY+4.1%

5Y CAGR-6.1%

10Y CAGR-0.9%

AstraZeneca held $5.7B in cash against $1.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

17.4%

YoY+4.4pp

5Y CAGR+5.6pp

10Y CAGR+6.0pp

AstraZeneca's net profit margin was 17.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.4 percentage points from the prior year.

Return on Equity

21.0%

YoY+3.8pp

5Y CAGR+0.9pp

10Y CAGR+5.7pp

AstraZeneca's ROE was 21.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$2.8B

YoY+46.0%

5Y CAGR+23.9%

10Y CAGR+7.8%

AstraZeneca invested $2.8B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 46.0% from the prior year.

AZNCF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$58.7B+8.6%	$54.1B+18.0%	$45.8B+3.3%	$44.4B+18.5%	$37.4B+40.6%	$26.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$80.0M+31.1%	$61.0M+84.8%	$33.0M+37.5%	$24.0M+9.1%	$22.0M+4.8%	$21.0M
Income Tax	$2.2B+31.5%	$1.6B+75.9%	$938.0M+218.4%	-$792.0M-108.4%	-$380.0M-149.2%	$772.0M
Net Income	$10.2B+45.3%	$7.0B+18.1%	$6.0B+81.0%	$3.3B+2763.5%	$115.0M-96.3%	$3.1B
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$14.5B	N/A	$12.9B	N/A	$11.4B	N/A	$10.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$679.0M	N/A	$469.0M	N/A	$268.0M	N/A	-$113.0M
Net Income	N/A	$2.4B	N/A	$1.9B	N/A	$1.8B	N/A	$360.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AZNCF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$114.1B+9.6%	$104.0B+2.9%	$101.1B+4.8%	$96.5B-8.4%	$105.4B+57.9%	$66.7B
Current Assets	$28.7B+11.2%	$25.8B+3.1%	$25.1B+10.9%	$22.6B-13.9%	$26.2B+34.3%	$19.5B
Cash & Equivalents	$5.7B+4.1%	$5.5B-6.0%	$5.8B-5.3%	$6.2B-2.6%	$6.3B-19.2%	$7.8B
Inventory	$6.6B+24.0%	$5.3B-2.5%	$5.4B+15.4%	$4.7B-47.7%	$9.0B+123.2%	$4.0B
Accounts Receivable	$15.2B+17.0%	$13.0B+7.0%	$12.1B+15.3%	$10.5B+9.1%	$9.6B+37.3%	$7.0B
Goodwill	$21.2B+1.0%	$21.0B+4.9%	$20.0B+1.2%	$19.8B-0.9%	$20.0B+68.8%	$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
Current Liabilities	$30.6B+9.9%	$27.9B-8.8%	$30.5B+16.2%	$26.3B+16.4%	$22.6B+11.3%	$20.3B
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
Total Equity	$48.7B+19.2%	$40.9B+4.4%	$39.2B+5.7%	$37.1B-5.7%	$39.3B+151.2%	$15.6B
Retained Earnings	$11.0B+247.2%	$3.2B+110.4%	$1.5B+361.7%	-$574.0M-133.6%	$1.7B-67.7%	$5.3B

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$114.1B+1.5%	$112.4B+8.1%	$104.0B-0.3%	$104.3B+3.2%	$101.1B+4.7%	$96.5B+0.1%	$96.5B-0.1%	$96.6B
Current Assets	$28.7B-0.7%	$28.9B+12.0%	$25.8B+1.7%	$25.4B+1.4%	$25.1B+9.7%	$22.8B+1.1%	$22.6B+8.0%	$20.9B
Cash & Equivalents	$5.7B-19.1%	$7.1B+28.6%	$5.5B-20.6%	$6.9B+18.4%	$5.8B+3.1%	$5.7B-8.1%	$6.2B+28.0%	$4.8B
Inventory	$6.6B+1.4%	$6.5B+22.3%	$5.3B-6.7%	$5.7B+4.5%	$5.4B+7.4%	$5.1B+7.5%	$4.7B-24.5%	$6.2B
Accounts Receivable	$15.2B+7.1%	$14.2B+9.2%	$13.0B+17.4%	$11.0B-8.9%	$12.1B+9.3%	$11.1B+5.4%	$10.5B+18.1%	$8.9B
Goodwill	$21.2B+0.1%	$21.2B+0.9%	$21.0B-0.2%	$21.1B+5.0%	$20.0B+0.4%	$20.0B+0.7%	$19.8B0.0%	$19.8B
Total Liabilities	$65.4B-3.3%	$67.6B+7.0%	$63.2B-2.4%	$64.7B+4.5%	$62.0B+4.8%	$59.1B-0.5%	$59.4B-2.0%	$60.6B
Current Liabilities	$30.6B-8.7%	$33.5B+20.3%	$27.9B-2.5%	$28.6B-6.5%	$30.5B+15.8%	$26.4B+0.3%	$26.3B+20.5%	$21.8B
Long-Term Debt	$1.4B+11.7%	$1.3B+14.3%	$1.1B+17.3%	$949.0M+10.7%	$857.0M+18.7%	$722.0M-0.4%	$725.0M+5.8%	$685.0M
Total Equity	$48.7B+8.7%	$44.8B+9.6%	$40.9B+3.2%	$39.6B+1.1%	$39.2B+4.7%	$37.4B+1.0%	$37.1B+3.1%	$36.0B
Retained Earnings	$11.0B+56.2%	$7.0B+122.2%	$3.2B+71.1%	$1.8B+23.0%	$1.5B+741.9%	-$234.0M+59.2%	-$574.0M+65.4%	-$1.7B

AZNCF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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
Capital Expenditures	$2.8B+46.0%	$1.9B+41.4%	$1.4B+24.7%	$1.1B0.0%	$1.1B+13.5%	$961.0M
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
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
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
Dividends Paid	$5.0B+7.4%	$4.6B+3.3%	$4.5B+2.7%	$4.4B+13.2%	$3.9B+8.0%	$3.6B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AZNCF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	17.4%+4.4pp	13.0%+0.0pp	13.0%+5.6pp	7.4%+7.1pp	0.3%-11.5pp	11.8%
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%
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%
Current Ratio	0.94+0.0	0.93+0.1	0.82-0.0	0.86-0.3	1.16+0.2	0.96
Debt-to-Equity	0.030.0	0.030.0	0.020.0	0.020.0	0.02-0.0	0.03
FCF Margin	20.0%+1.7pp	18.4%-1.2pp	19.6%-0.0pp	19.7%+6.6pp	13.0%-1.4pp	14.4%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	16.9%	N/A	14.9%	N/A	15.9%	N/A	3.3%
Return on Equity	N/A	5.5%	N/A	4.9%	N/A	4.9%	N/A	1.0%
Return on Assets	N/A	2.2%	N/A	1.8%	N/A	1.9%	N/A	0.4%
Current Ratio	0.94+0.1	0.86-0.1	0.93+0.0	0.89+0.1	0.82-0.0	0.870.0	0.86-0.1	0.96
Debt-to-Equity	0.030.0	0.030.0	0.030.0	0.020.0	0.020.0	0.020.0	0.020.0	0.02
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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

Frequently Asked Questions

What is AstraZeneca's annual revenue?

AstraZeneca (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's revenue growing?

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

Is AstraZeneca profitable?

Yes, AstraZeneca (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 have?

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

What is AstraZeneca's net profit margin?

AstraZeneca (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's return on equity (ROE)?

AstraZeneca (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's free cash flow?

AstraZeneca (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's operating cash flow?

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

What are AstraZeneca's total assets?

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

What are AstraZeneca's capital expenditures?

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

What is AstraZeneca's current ratio?

AstraZeneca (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's debt-to-equity ratio?

AstraZeneca (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's return on assets (ROA)?

AstraZeneca (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's Piotroski F-Score?

AstraZeneca (AZNCF) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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's earnings high quality?

AstraZeneca (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.

How financially healthy is AstraZeneca?

AstraZeneca (AZNCF) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.