AstraZeneca PLC (GB:AZN)
LSE:AZN
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AstraZeneca
(LSE:AZN)
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Rating:73Outperform
Price Target:
15,420.00 p
â–²(2.00% Upside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by strong underlying financial performance and a constructive earnings outlook (growth guidance and pipeline progress). This is tempered by valuation (P/E ~30), recent free-cash-flow variability, and technical signals that appear overextended despite the broader uptrend.
Positive Factors
Sustained revenue scaling and improved margins
Multi‑year revenue scaling nearly doubled top line into 2025 while margins recovered materially, showing the business model and commercial execution support sustainable profitability. This breadth and margin improvement provide durable cash generation capacity and resilience across therapy areas.
Negative Factors
Farxiga US loss of exclusivity and China pricing pressure
Loss of exclusivity for a material product and China procurement pressures are durable revenue headwinds that will structurally reduce pricing and share for a key franchise. Given Farxiga's contribution to sales, this increases reliance on new launches and heightens execution risk for replacements.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue scaling and improved margins
Multi‑year revenue scaling nearly doubled top line into 2025 while margins recovered materially, showing the business model and commercial execution support sustainable profitability. This breadth and margin improvement provide durable cash generation capacity and resilience across therapy areas.
Read all positive factors
AstraZeneca (AZN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£216.68B
Dividend Yield1.53%
Average Volume (3M)2.23M
Price to Earnings (P/E)28.1
Beta (1Y)1.13
Revenue Growth5.28%
EPS Growth40.95%
CountryUK
Employees94,300
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,550,980,800
10 Day Avg. Volume2,301,712
30 Day Avg. Volume2,229,651
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)5.91
Price to Sales (P/S)4.90
P/FCF Ratio33.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£16,446.55Price Target Upside8.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)10.26
Revenue Forecast (FY)£63.32B
AstraZeneca Business Overview & Revenue Model
Company Description
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, L...
How the Company Makes Money
AstraZeneca makes money primarily by selling patented prescription medicines to healthcare systems, hospitals, pharmacies, and wholesalers across major geographies (e.g., the U.S., Europe, and emerging markets). Its core revenue stream is product ...
AstraZeneca Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presented a broadly positive picture: solid topline growth (8% revenue increase), double-digit core EPS growth (11%), strong cash generation (+23% operating cash flow) and substantial late-stage pipeline momentum (16 positive Phase III readouts in 2025; >100 Phase III trials ongoing) with material risk-adjusted revenue opportunities (> $10bn) in 2026 and 2027. Management reiterated disciplined capital allocation, an increased dividend and confident 2026 guidance (mid- to high-single-digit revenue growth and low double-digit core EPS growth at CER). Near-term headwinds include Farxiga U.S. loss of exclusivity, China VBP impacts, higher R&D and CapEx investment, deal-related payments and some biosimilar/generic pressure—risks that management has factored into guidance. Overall, positive commercial and pipeline momentum outweighs the identifiable near-term pressures.Positive Updates
Revenue and Product Revenue Growth
Total revenue increased 8% in 2025, with product revenue (product sales + alliance revenue) up 10%, driven by global demand for innovative medicines.
Negative Updates
Farxiga US Loss of Exclusivity and China VBP Headwinds
Farxiga faces U.S. loss of exclusivity in April 2026; Farxiga generated $1.7 billion in the U.S. in 2025 (≈21% of global revenues). Additionally, VBP (volume-based procurement) in China for Farxiga, Lynparza and roxadustat is a near-term headwind and may drive price and volume declines.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue and Product Revenue Growth
Total revenue increased 8% in 2025, with product revenue (product sales + alliance revenue) up 10%, driven by global demand for innovative medicines.
Read all positive updates
Company Guidance
AstraZeneca issued 2026 guidance at constant exchange rates expecting total revenue to grow mid‑ to high‑single‑digit and core EPS to rise low double‑digits, with core gross margin broadly flat to slightly higher (after backing out 2025 royalty buyouts) and a core tax rate guided to 18–22%; management is targeting a mid‑30s operating margin while R&D is expected at the upper end of the low‑20s % of revenue and SG&A continues to decline (26% of revenue in 2025). They expect CapEx to increase roughly one‑third versus 2025’s $3.3bn, anticipate ~ $2.5bn of success‑based milestones/sales payments in 2026, see a step‑up in core net finance expense (higher lease costs, lower interest income), and note balance‑sheet metrics of ~ $30bn interest‑bearing debt and net debt/EBITDA ~1.2x; based on January FX rates they expect a low‑single‑digit positive impact on revenue and neutral on core EPS, and the board declared a 2025 full‑year dividend of $3.20 per share (second interim $2.17) and intends to raise the 2026 declared dividend to $3.30.AstraZeneca Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 58.74B | 52.94B | 46.58B | 44.25B | 37.11B |
| Gross Profit | 48.11B | 39.70B | 34.45B | 28.04B | 22.60B |
| EBITDA | 19.83B | 14.86B | 13.20B | 8.63B | 4.59B |
| Net Income | 10.22B | 6.89B | 6.06B | 3.28B | 109.85M |
Balance Sheet | |||||
| Total Assets | 114.07B | 104.03B | 101.12B | 96.48B | 105.36B |
| Cash, Cash Equivalents and Short-Term Investments | 5.74B | 5.65B | 5.91B | 6.24B | 6.37B |
| Total Debt | 29.62B | 30.11B | 28.41B | 29.14B | 30.69B |
| Total Liabilities | 65.36B | 63.16B | 61.95B | 59.42B | 66.08B |
| Stockholders Equity | 48.67B | 40.79B | 39.14B | 37.04B | 39.27B |
Cash Flow | |||||
| Free Cash Flow | 8.67B | 7.28B | 6.57B | 7.24B | 3.76B |
| Operating Cash Flow | 14.57B | 11.86B | 10.35B | 9.81B | 5.96B |
| Investing Cash Flow | -6.81B | -7.98B | -4.06B | -2.96B | -11.06B |
| Financing Cash Flow | -7.54B | -4.00B | -6.57B | -6.82B | 3.65B |
AstraZeneca Technical Analysis
Positive
15118.00
Price Trends
14710.39
Positive
14169.26
Positive
12941.86
Positive
Market Momentum
149.38
Negative
57.63
Neutral
25.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AZN, the sentiment is Positive. The current price of 15118 is above the 20-day moving average (MA) of 14640.80, above the 50-day MA of 14710.39, and above the 200-day MA of 12941.86, indicating a bullish trend. The MACD of 149.38 indicates Negative momentum. The RSI at 57.63 is Neutral, neither overbought nor oversold. The STOCH value of 25.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:AZN.
AstraZeneca Risk Analysis
AstraZeneca disclosed 19 risk factors in its most recent earnings report. AstraZeneca reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Failure to meet our sustainability targets, regulatory requirements and stakeholder expectations with respect to the environment Q4, 2024
AstraZeneca Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £216.68B | 28.13 | 23.00% | 1.53% | 5.28% | 40.95% | |
70 Outperform | £10.08B | 22.64 | 11.79% | 2.35% | 2.84% | 47.82% | |
69 Neutral | £80.48B | 12.93 | 37.19% | 3.29% | 4.11% | 123.09% | |
67 Neutral | £4.28B | 37.08 | 10.53% | 2.11% | 3.29% | -10.58% | |
59 Neutral | £2.98B | 11.21 | 15.83% | 4.16% | 3.84% | 8.83% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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AstraZeneca Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
AstraZeneca Adds Employee Scheme Shares to LSE Listing
Neutral
Mar 20, 2026
AstraZeneca has admitted 45,750 additional ordinary shares of $0.25 each to trading on the London Stock Exchange’s Main Market, bringing the total number of shares in issue to 1,550,980,332. The new shares, which are fully fungible with exis...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
AstraZeneca Wins EU Nod for Imfinzi as First Perioperative Immunotherapy in Early Gastric Cancer
Positive
Mar 16, 2026
AstraZeneca has secured European Union approval for its immunotherapy Imfinzi, in combination with standard FLOT chemotherapy, as the first perioperative immunotherapy regimen for adults with resectable early-stage and locally advanced gastric and...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
AstraZeneca Sets Digitally Enabled 2026 AGM with Key Governance and Capital Votes
Neutral
Mar 10, 2026
AstraZeneca has published the notice and shareholders’ circular for its 2026 Annual General Meeting, which will be digitally enabled and held on 9 April 2026 at 14:30 BST. The documents, including the proxy form and updated 2020 Performance ...
Executive/Board Changes
AstraZeneca CEO Receives 101,495 Shares as Long-Term Incentive Award Vests
Neutral
Mar 6, 2026
AstraZeneca disclosed that Chief Executive Officer Pascal Soriot received an allocation of 101,495 ordinary shares following the vesting of a long-term incentive award under the AstraZeneca Performance Share Plan. The award, originally granted in ...
Executive/Board ChangesRegulatory Filings and Compliance
AstraZeneca Executives Receive Vested Deferred Share Awards
Positive
Mar 6, 2026
AstraZeneca has reported that deferred share awards granted in March 2023 under its AstraZeneca Deferred Bonus Plan have vested for senior executives, following the completion of a three-year holding period tied to 2022 performance. Chief executiv...
Executive/Board ChangesRegulatory Filings and Compliance
AstraZeneca Grants Long-Term Share Awards to CEO and CFO
Neutral
Mar 6, 2026
AstraZeneca has granted share awards to Chief Executive Officer Pascal Soriot and Chief Financial Officer Aradhana Sarin under its Deferred Bonus Plan and Performance Share Plan, aligning a portion of their 2025 bonuses and long-term incentives wi...
Business Operations and StrategyPrivate Placements and Financing
AstraZeneca Raises $2bn in Three-Tranche Global Bond Offering
Positive
Feb 26, 2026
AstraZeneca has tapped the debt markets through its subsidiary AstraZeneca Finance LLC, pricing a three-tranche global bond offering totalling $2bn, with maturities in 2031, 2033 and 2036 and fixed coupons ranging from 4.000% to 4.600%. The procee...
Financial DisclosuresRegulatory Filings and Compliance
AstraZeneca Files 2025 Form 20-F Annual Report with U.S. SEC
Neutral
Feb 25, 2026
AstraZeneca has filed its 2025 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission, making the document available on both the regulator’s and the company’s websites. The company is also offering hard copies of i...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
AstraZeneca Files 2025 Annual Report Ahead of April 2026 AGM
Neutral
Feb 24, 2026
AstraZeneca has published its 2025 Annual Report and Form 20-F Information, making the document available via the U.K. National Storage Mechanism and on the company’s website, with hard copies to be dispatched to shareholders in due course. ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
AstraZeneca refreshes board as Nazneen Rahman to retire and sustainability leadership shifts
Positive
Feb 24, 2026
AstraZeneca announced changes to its non-executive board, with long-serving director Nazneen Rahman set to retire at the conclusion of the company’s annual general meeting on 9 April 2026, ending a tenure that began in 2017 and included lead...
Business Operations and StrategyProduct-Related Announcements
AstraZeneca wins U.S. nod for first fixed-duration all-oral CLL combo
Positive
Feb 20, 2026
AstraZeneca has secured U.S. FDA approval for Calquence (acalabrutinib) in combination with venetoclax as the first all-oral, fixed-duration regimen for adults with previously untreated chronic lymphocytic leukaemia or small lymphocytic lymphoma. ...
Business Operations and StrategyProduct-Related Announcements
AstraZeneca Strikes $1.2bn CSPC Deal to Bolster Obesity Drug Portfolio
Positive
Jan 30, 2026
AstraZeneca has entered a strategic collaboration with China’s CSPC Pharmaceuticals to expand its weight management portfolio, securing exclusive rights outside China to CSPC’s once‑monthly injectable obesity and type 2 diabetes ...
Business Operations and Strategy
AstraZeneca Unveils $15bn China Investment to Expand Next-Generation Drug Capabilities
Positive
Jan 29, 2026
AstraZeneca will invest $15 billion in China through 2030 to expand its research, development and manufacturing footprint, deepening its presence in advanced modalities such as cell therapy and radioconjugates and reinforcing China’s role as...
Business Operations and StrategyDelistings and Listing Changes
AstraZeneca Shifts US Listings to NYSE in Global Harmonisation Move
Positive
Jan 20, 2026
AstraZeneca will voluntarily withdraw the listing of its American Depositary Shares and certain US dollar-denominated debt securities from Nasdaq as it completes a direct listing of its ordinary shares and all US debt securities on the New York St...
Business Operations and StrategyExecutive/Board Changes
AstraZeneca Names US Chief Joris Silon as New Head of Investor Relations
Positive
Jan 8, 2026
AstraZeneca has appointed Joris Silon as Head of Investor Relations, effective 1 March 2026, succeeding Andy Barnett and based in Cambridge, UK. Silon moves into the role from his position as country president of AstraZeneca US, where he oversaw s...
Regulatory Filings and Compliance
AstraZeneca Confirms Total Voting Rights of 1.55 Billion Shares
Neutral
Jan 2, 2026
AstraZeneca has confirmed that, as of 31 December 2025, its issued share capital with voting rights consists of 1,550,907,927 ordinary shares, with no shares held in treasury, establishing the total number of voting rights at the same figure. This...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.