Astrazeneca PLC key statistics and ratios

In fiscal 2025, Astrazeneca PLC had return on equity of 22.9%, an operating margin of 23.4%, debt equal to 60.9% of equity and a current ratio of 0.94. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Astrazeneca PLC: financial ratios, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	81.2%	82.1%	80.8%	77.7%	79.8%	80.1%	66.8%	72.1%	82.0%	81.1%	81.9%
Operating margin	16.7%	21.3%	16.4%	15.3%	12.0%	19.4%	2.8%	8.5%	17.9%	18.5%	23.4%
Net margin	11.4%	15.2%	13.4%	9.8%	5.5%	12.0%	0.3%	7.4%	13.0%	13.0%	17.4%
Free-cash-flow margin	8.1%	11.7%	10.0%	7.1%	8.2%	14.4%	13.0%	19.7%	19.6%	18.4%	20.0%
Return on equity	15.3%	21.0%	20.1%	15.7%	10.4%	22.2%	0.4%	8.6%	15.6%	17.6%	22.9%
Return on assets	4.7%	5.7%	4.8%	3.5%	2.2%	5.0%	0.1%	3.3%	6.0%	6.9%	9.4%
Asset turnover	0.41	0.38	0.36	0.36	0.40	0.42	0.43	0.44	0.46	0.53	0.54
Current ratio	1.08	0.87	0.80	0.96	0.86	0.96	1.16	0.86	0.82	0.93	0.94
Debt to equity	76.5%	97.6%	119.0%	153.3%	138.9%	130.5%	78.4%	78.9%	73.1%	74.3%	60.9%
Interest cover (operating income ÷ interest)	—	—	—	—	132.9x	6.8x	1.3x	4.1x	7.0x	6.9x	9.7x
Effective tax rate	7.9%	4.1%	−28.8%	−2.9%	20.7%	19.7%	—	−31.7%	13.6%	19.0%	17.5%
R&D as % of revenue	24.3%	25.6%	25.6%	26.9%	24.8%	22.5%	26.0%	22.0%	23.9%	25.1%	24.2%
Capital spending as % of revenue	5.4%	6.3%	5.9%	4.7%	4.0%	3.6%	2.9%	2.5%	3.0%	3.6%	4.8%
Free cash flow ÷ net income	70.7%	77.1%	75.0%	73.1%	149.1%	120.1%	>999%	265.1%	150.9%	141.3%	115.1%
Dividends ÷ net income	123.4%	101.8%	117.3%	161.7%	269.1%	111.8%	>999%	132.7%	75.2%	65.8%	48.6%
Dividends and buybacks ÷ free cash flow	174.6%	131.9%	156.3%	221.2%	180.5%	93.1%	82.2%	50.1%	49.9%	47.4%	46.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · December 31, 2025

What it owns · $114.1bn

Short-term assets $28.7bnLonger-term assets $85.4bn

What it owes, and who funded it · $114.0bn

Short-term liabilities $30.6bnLonger-term liabilities $34.7bnShareholders' equity $48.7bn

Short-term assets cover short-term liabilities $28.7bn of assets due within a year against $30.6bn of liabilities due within a year.
Short-term assets cover long-term liabilities $28.7bn short-term assets against $34.7bn of longer-dated liabilities.
More cash than debt $5.7bn of cash against $24.7bn of debt.
Debt below 40% of shareholders' equity Debt is 51% of equity.
Debt burden no higher than five years ago Debt to equity moved from 112% to 51% over five years.
A year's operating cash flow covers at least 20% of debt $14.6bn of operating cash flow against $24.7bn of debt.
Operating profit covers interest at least five times over Operating income of $13.7bn against $1.4bn of interest.

From Astrazeneca PLC's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Astrazeneca PLC's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Astrazeneca PLC.