AstraZeneca FY 2025 Results: Revenue and FY 2026 Growth Forecast

Note: This section contains information in English only.
Source: Dukascopy Bank SA
AstraZeneca reported a gross margin of 80% for FY 2025, down 2 points due to profit-sharing on medicines like Lynparza and Enhertu, a $235 million royalty buyout for Saphnelo and rilvegostomig, and US pricing adjustments. Reported operating profit rose 37% to $13.7 billion, while Core operating profit grew 9% to $18.5 billion, reflecting adjustments for intangible asset amortization and impairments. Reported R&D expenses fell 17% to $3.9 billion due to prior-year impairments, while Core R&D increased 4%, driven by accelerated trials and new technologies such as cell therapy and ADCs. Core SG&A expenses rose 3% to support new product launches, and Core net finance expense decreased 7% to $1.1 billion.



Net cash from operations was $14.6 billion, up $2.7 billion from FY 2024, while capital expenditure increased to $3.3 billion to support manufacturing and technology expansion. Net debt declined by $1.2 billion to $23.4 billion, and the dividend was $3.20 per share, with plans to raise it to $3.30 in FY 2026. The company expects mid-to-high single-digit revenue growth, low double-digit Core EPS growth, and a Core tax rate of 18–22% in FY 2026.

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