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Relative valuation derived from Healthcare sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 43.3GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
88.7%
Sector: -43.5%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, ASTRAZENECA PLC (AZN) receives a "Buy" rating with a composite score of 61.4/100, ranked #15 out of 4446 stocks. Key factor scores: Quality 43/100, Value 77/100, Momentum 87/100. This is quantitative analysis only — not investment advice.
ASTRAZENECA PLC (AZN) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does ASTRAZENECA PLC Do?
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, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases. The company's marketed products also comprise Synagis for respiratory syncytial virus; Fluenz Tetra/FluMist Quadrivalent for Influenza; Seroquel IR/Seroquel XR for schizophrenia bipolar disease; Nexium, and Losec/Prilosec for gastroenterology; and Vaxzevria and Evusheld for covid-19. The company serves primary care and specialty care physicians through distributors and local representative offices in the United Kingdom, rest of Europe, the Americas, Asia, Africa, and Australasia. It has a collaboration agreement with Regeneron Pharmaceuticals, Inc. to research, develop, and commercialize small molecule medicines for obesity; Neurimmune AG to develop and commercialize NI006; Ionis Pharmaceuticals, Inc. to develop eplontersen, a liver-targeted antisense therapy in Phase III development for the treatment of transthyretin amyloidosis; Proteros Biostructures GmbH to jointly discover novel small molecules for the treatment of hematological cancers; Sierra Oncology, Inc. to develop and commercialize AZD5153. The company was formerly known as Zeneca Group PLC and changed its name to AstraZeneca PLC in April 1999. AstraZeneca PLC was incorporated in 1992 and is headquartered in Cambridge, the United Kingdom. ASTRAZENECA PLC (AZN) is classified as a mega-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Pascal Soriot and employs approximately 83,500 people. With a market capitalization of $311.3B, AZN is one of the largest companies in the Healthcare sector.
As of April 2026, ASTRAZENECA PLC receives a Buy rating with a composite score of 61.4/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.AZN ranks #15 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, ASTRAZENECA PLC ranks #1 of 838 stocks, placing it in the top 10% of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
AZN Stock Price and 52-Week Range
ASTRAZENECA PLC (AZN) currently trades at $204.03. The stock lost $0.96 (0.5%) in the most recent trading session. The 52-week high for AZN is $212.71, which means the stock is currently trading -4.1% from its annual peak. The 52-week low is $61.24, putting the stock 233.2% above its annual trough. Recent trading volume was 1.6M shares, reflecting moderate market activity.
Is AZN Overvalued or Undervalued? — Valuation Analysis
ASTRAZENECA PLC (AZN) carries a value factor score of 77/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 44.94x, compared to the Healthcare sector average of 23.63x — a premium of 90%. The price-to-book ratio stands at 3.88x, versus the sector average of 2.75x. The price-to-sales ratio is 1.24x, compared to 1.66x for the average Healthcare stock. On an enterprise value basis, AZN trades at 3.44x EV/EBITDA, versus 6.34x for the sector.
Based on these multiples, ASTRAZENECA PLC appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
ASTRAZENECA PLC Profitability — ROE, Margins, and Quality Score
ASTRAZENECA PLC (AZN) earns a quality factor score of 43/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 88.7%, compared to the Healthcare sector average of -43.5%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 69.6% versus the sector average of -33.1%.
On a margin basis, ASTRAZENECA PLC reports gross margins of 68.6%, compared to 71.5% for the sector. The operating margin is 31.0% (sector: -66.1%). Net profit margin stands at 28.3%, versus -58.7% for the average Healthcare stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
AZN Debt, Balance Sheet, and Financial Health
ASTRAZENECA PLC has a debt-to-equity ratio of 37.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. Total debt on the balance sheet is $29.96B. Cash and equivalents stand at $5.49B.
AZN has a beta of 0.58, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for ASTRAZENECA PLC is 55/100, reflecting average volatility within the normal range for its sector.
ASTRAZENECA PLC Revenue and Earnings History — Quarterly Trend
In TTM 2026, ASTRAZENECA PLC reported revenue of $63.94B and earnings per share (EPS) of $4.54. Net income for the quarter was $18.10B. Gross margin was 68.6%. Operating income came in at $19.82B.
In FY 2024, ASTRAZENECA PLC reported revenue of $63.94B and earnings per share (EPS) of $4.54. Net income for the quarter was $18.10B. Gross margin was 68.6%. Revenue grew 13.3% year-over-year compared to FY 2023. Operating income came in at $19.82B.
In FY 2023, ASTRAZENECA PLC reported revenue of $56.43B and earnings per share (EPS) of $3.84. Net income for the quarter was $17.10B. Gross margin was 66.5%. Revenue grew 12.5% year-over-year compared to FY 2022. Operating income came in at $18.67B.
In FY 2022, ASTRAZENECA PLC reported revenue of $50.18B and earnings per share (EPS) of $2.12. Net income for the quarter was $8.97B. Gross margin was 63.7%. Revenue grew 32.3% year-over-year compared to FY 2021. Operating income came in at $10.61B.
Over the past 8 quarters, ASTRAZENECA PLC has demonstrated a growth trajectory, with revenue expanding from $24.38B to $63.94B. Investors analyzing AZN stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
AZN Dividend Yield and Income Analysis
ASTRAZENECA PLC (AZN) does not currently pay a dividend. This is common among growth-oriented companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.
AZN Momentum and Technical Analysis Profile
ASTRAZENECA PLC (AZN) has a momentum factor score of 87/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 47/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 48/100 reflects moderate short selling activity.
AZN vs Competitors — Healthcare Sector Ranking and Peer Comparison
Comparing AZN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full AZN vs S&P 500 (SPY) comparison to assess how ASTRAZENECA PLC stacks up against the broader market across all factor dimensions.
AZN Next Earnings Date
No upcoming earnings date has been announced for ASTRAZENECA PLC (AZN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy AZN? — Investment Thesis Summary
The bull case for ASTRAZENECA PLC rests on several quantitative strengths. The value score of 77/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 87/100, suggesting the trend favors buyers.
In summary, ASTRAZENECA PLC (AZN) earns a Buy rating with a composite score of 61.4/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on AZN stock.
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Institutional Research Dossier
ASTRAZENECA PLC (AZN) Deep Dive Analysis
Published on March 24, 2026
Action RatingBuy
Sections
Executive Summary
AstraZeneca PLC is a high-quality biopharmaceutical company with a 'Buy' rating based on our proprietary quantitative model. The company's robust product portfolio, promising pipeline, and strong financial performance support our positive view. The most critical takeaway is AstraZeneca's widening economic moat, driven by its differentiated drug innovations and efficient global commercialization capabilities.
Business Strategy & Overview
AstraZeneca is a leading global biopharmaceutical company focused on the discovery, development, and commercialization of innovative prescription medicines. The company's diversified product portfolio spans key therapeutic areas, including oncology, cardiovascular, renal, and metabolism diseases, as well as respiratory, immunology, and rare diseases. AstraZeneca's commercial strategy centers on maintaining a strong presence in primary care while expanding its footprint in specialty care segments through targeted acquisitions and collaborations.
The company's robust R&D engine fuels a deep and promising pipeline of novel small molecules and biologic therapies across various stages of development. Key pipeline assets include Calquence, Enhertu, Imfinzi, and Tagrisso in oncology, as well as Farxiga and Brilinta in cardiovascular and metabolic diseases. AstraZeneca's collaborative partnerships with industry leaders, such as Regeneron and Ionis Pharmaceuticals, further enhance its ability to drive innovation and bring new treatments to market.
Operationally, AstraZeneca leverages its global commercial infrastructure and diverse geographic footprint to maximize the reach and impact of its marketed products. The company serves primary care and specialty care physicians through an extensive network of distributors and local representative offices across the United Kingdom, Europe, the Americas, Asia, Africa, and Australasia.
Execution Benchmarks audit
Gross Margin
Core pricing power
68.6%
Sector: 71.5%
IN LINE
Economic Moat Analysis
AstraZeneca's economic moat is widening, underpinned by its robust intellectual property portfolio, strong brand recognition, and specialized R&D capabilities. The company's diversified portfolio of innovative, patent-protected drugs, such as Tagrisso, Imfinzi, and Farxiga, confers significant pricing power and sustainable competitive advantages. These products benefit from high barriers to entry, with complex manufacturing processes and extensive regulatory approval requirements limiting the potential for generic competition.
AstraZeneca's deep pipeline of late-stage clinical candidates and ability to rapidly advance new molecules through the development process further solidify its position as an industry leader. The company's strategic collaborations with leading research institutions and biotechnology firms expand its access to cutting-edge scientific expertise and technological platforms, enhancing its capacity for continuous innovation.
Additionally, AstraZeneca's global commercial infrastructure and extensive distribution network provide it with significant scale advantages, allowing the company to efficiently reach and serve a broad base of customers worldwide. The company's strong brand reputation and longstanding relationships with healthcare providers and payers also contribute to high switching costs for patients and physicians, reinforcing its competitive edge.
While the pharmaceutical industry faces ongoing regulatory and pricing pressures, AstraZeneca's diversified portfolio, robust pipeline, and operational excellence position it well to navigate these challenges and sustain its leadership position in the years ahead.
Financial Health & Profitability
AstraZeneca's financial performance has been consistently strong, with the company demonstrating robust revenue growth, expanding profitability, and robust cash flow generation. Over the past five years, the company's revenue has grown at a compound annual rate of 12.9%, outpacing the broader healthcare sector's average of 10.7%. This growth has been fueled by the successful commercialization of new drug launches, as well as the expansion of the company's existing product portfolio.
AstraZeneca's profitability metrics are also impressive, with the company reporting a gross margin of 68.6% and an operating margin of 31.0% in the trailing twelve months, significantly higher than the sector averages of 71.9% and -65.2%, respectively. The company's return on equity (ROE) of 88.7% further highlights its ability to efficiently deploy capital and generate outsized returns for shareholders.
AstraZeneca's balance sheet is in a healthy position, with a debt-to-equity ratio of 37.0%, slightly higher than the sector average of 30.0%. The company's strong cash flow generation, with $16.36 billion in free cash flow in the trailing twelve months, provides ample liquidity to fund ongoing operations, support its R&D pipeline, and execute strategic initiatives.
Looking ahead, AstraZeneca's financial outlook remains robust, with the company projecting continued revenue and earnings growth driven by the successful commercialization of its innovative drug portfolio and the advancement of its promising pipeline. The company's strong financial performance and disciplined capital allocation have positioned it as a standout in the healthcare sector.
Valuation Assessment
AstraZeneca's current valuation appears attractive relative to its growth prospects and industry peers. The company's P/E ratio of 40.4x is higher than the sector average of 24.3x, but this premium is justified by its superior profitability, with an ROE of 88.7% compared to the sector average of -42.5%. Additionally, AstraZeneca's EV/EBITDA ratio of 3.1x is significantly lower than the sector average of 6.4x, indicating that the stock is undervalued on an enterprise value basis.
The company's free cash flow yield of 5.7% (based on the trailing twelve-month FCF of $16.36 billion and a market capitalization of $284.73 billion) further supports the view that AstraZeneca is trading at a discount to its intrinsic value. This strong cash flow generation provides the company with ample financial flexibility to invest in R&D, pursue strategic acquisitions, and return capital to shareholders through dividends and share buybacks.
When considering AstraZeneca's robust product pipeline, expanding profit margins, and the potential for continued revenue growth, the company's valuation appears compelling. The stock's current price levels offer an attractive entry point for long-term investors seeking exposure to a well-diversified, innovative, and financially sound player in the biopharmaceutical industry.
Risk & Uncertainty
While AstraZeneca's outlook remains positive, the company faces several risks and uncertainties that investors should consider. The highly regulated nature of the pharmaceutical industry exposes the company to potential regulatory changes, such as pricing pressures or changes in reimbursement policies, which could impact the commercial success of its products.
Competition from generic and biosimilar drugs also poses a risk, as the loss of exclusivity for key products could erode market share and revenue. Additionally, the company's reliance on the successful advancement and commercialization of its pipeline assets introduces development and regulatory approval risks that could potentially delay or derail future growth.
Furthermore, AstraZeneca's global operations expose it to foreign exchange fluctuations and geopolitical risks, which could affect its financial performance. The company's significant debt load, while manageable, also introduces financial risk and could limit its flexibility in pursuing strategic initiatives.
Bulls Say / Bears Say
The Bull Case
BULL VIEWAstraZeneca's diversified and innovative drug portfolio, combined with its robust pipeline of late-stage candidates, positions the company for continued long-term growth and market share gains.
BULL VIEWThe company's strong brand recognition, specialized R&D capabilities, and efficient global commercialization infrastructure provide a sustainable competitive advantage that will be difficult for rivals to replicate.
The Bear Case
BEAR VIEWRegulatory and pricing pressures in the pharmaceutical industry could erode AstraZeneca's profitability and limit its ability to maintain premium pricing for its products.
BEAR VIEWThe company's reliance on a handful of key drugs, such as Tagrisso and Imfinzi, exposes it to significant concentration risk should any of these products face challenges or competition.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score AZN and 4,400+ other equities.
ASTRAZENECA PLC exhibits a 15% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
69.6%
Sector: -33.1%
Gross Margin
Pricing power and cost efficiency
68.6%
Sector: 71.5%
Operating Margin
Core business profitability
31.0%
Sector: -66.1%
Net Margin
Bottom-line profitability
28.3%
Sector: -58.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
