Astrazeneca Plc reported $58.7bn revenue in FY2025, up 166% across 8 filed years.

Open filed source ↗

Where's the money from?

Revenue $58.7bn (FY2025), up 9% YoY

This is the total revenue line reported in the filed accounts.

Filed source ↗

Revenue trend

$22.1bn → $58.7bn

Revenue more than doubled across 8 filed years.

Filed source ↗

What do the filed figures show?

15.3% → 23.4%

Operating margin widened as it grew.

Filed source ↗

Who's behind it?

12 active directors

Full board and backgrounds in the People tab.

Filed source ↗

global prescription medicines / biopharmaceuticals · global · high complexity

Filing brief · Company record

Inside AstraZeneca PLC

Report overview

AstraZeneca turned $54.1bn of sales into $10.2bn net profit in FY2025 — a 45% surge driven by operating leverage, not volume.

$5.71bn Cash at bank vs $5.49bn FY2024

$58.74bn Turnover vs $54.07bn FY2024

$12.40bn Pre-tax profit vs $8.69bn FY2024

$48.72bn Net assets vs $40.87bn FY2024

AstraZeneca's revenue rose 9% in FY2025 to $58.7bn. Unremarkable for a company this size. What is remarkable is that operating profit jumped 37% to $13.7bn, profit before tax climbed 43% to $12.4bn, and profit after tax landed at $10.2bn — up 45%. The company generated $14.6bn in operating cash, net assets grew 19% to $48.7bn, and long-term liabilities actually fell. The top line grew modestly; everything below it accelerated sharply.

Explore 02Financials 03Review 05People 07Detailed findings 08Filings 09Verification

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Company No.02723534

Statusactive

Latest accountsFY2025 audited accounts

Filed 25 April 2026 4 months ago

AuditorPricewaterhouseCoopers LLP

The story

What happened, in chapters

The year, beat by beat — each one a signal from the filing, source cited. Open the source detail on any beat for the supporting context.

Revenue Grows, Profit Flies

A 9% rise in sales produced a 45% rise in profit after tax — the gap between the two numbers is the story.

+45%

Profit after tax FY2024 $7.0bn FY2025 $10.2bn

The source detail

Revenue grew by $4.7bn. Profit after tax grew by $3.2bn. That ratio — turning roughly two-thirds of every extra pound of revenue into bottom-line profit — points to a cost base that is not growing at the same pace as sales. Gross margin held above 81%.

Source · P&L FY2024–FY2025

Cash Machine, Not Just Profits

Operating cash generation outpaced even the strong profit figure, rising 23% to $14.6bn.

Operating cash flow

FY2024 $11.9bn

FY2025 $14.6bn

The source detail

Reported profit can be engineered; operating cash flow is harder to flatter. At $14.6bn, operating cash comfortably exceeds profit after tax of $10.2bn — the gap suggests solid working-capital discipline and non-cash charges absorbed within the P&L. Investing outflows fell to $6.8bn from $8.0bn the prior year.

Source · Cash Flow Statement FY2024–FY2025

The Balance Sheet Strengthens

Net assets rose 19% to $48.7bn as long-term liabilities actually shrank.

+19%

Net assets FY2024 $40.9bn FY2025 $48.7bn

The source detail

Fixed assets reached $85.4bn, reflecting sustained investment in the underlying business. Long-term liabilities moved in the opposite direction, falling to $34.7bn from $35.3bn. The result: net assets expanded by nearly $7.8bn in a single year.

Source · Balance Sheet FY2024–FY2025

Liquidity: Scale Meets Tension

Cash of $5.7bn sits against current liabilities of $30.6bn — a gap the operating cash engine covers.

$5.7bn Cash on hand

$30.6bn Current liabilities

The source detail

On a snapshot basis, cash alone does not cover current liabilities. But the company generated $14.6bn in operating cash during FY2025 — more than enough to bridge the gap. The current liabilities figure grew 10% to $30.6bn, broadly in line with revenue growth.

Source · Balance Sheet FY2025; Cash Flow Statement FY2025

Financing: A Sharp Reversal

Financing cash outflows nearly doubled to $7.5bn — the biggest directional shift in the cash flow statement.

-89%

Financing cash outflows FY2024 -$4.0bn FY2025 -$7.5bn

The source detail

Financing outflows jumped from $4.0bn to $7.5bn, an 89% increase. The filing does not itemise what drove this within the brief — it could reflect higher dividends, debt repayment, or share activity. A July 2026 capital allotment (SH01) was also filed, signalling continued share activity after the year end.

Source · Cash Flow Statement FY2024–FY2025; Filing Signals (SH01, 2026-07-02)

Governance: Global Board, No Single Owner

Twelve directors spanning seven nationalities; no person of significant control on record.

No PSC registered Fragmented / nominee ownership
Listed entity AstraZeneca PLC (No. 02723534)
Board (12 directors) 7 nationalities represented
CEO since Oct 2012 Pascal Claude Roland Soriot

Source · PSC Register; Director filings at Companies House

The brief

Five questions, answered

Questions answered from this company's filings, with the source for every figure.

Q1 What does the filing disclose about short-term obligations?

Cash of $5.7bn does not cover current liabilities of $30.6bn on a snapshot basis.

But operating cash flow reached $14.6bn in FY2025 — more than twice the gap. Long-term liabilities fell slightly to $34.7bn. The business generates well over $14bn a year in cash from operations, which provides substantial headroom against near-term obligations.

Source · Balance Sheet FY2025; Cash Flow Statement FY2025

Q2 Are they actually making money, or just turning it over?

Both, and the margins are widening.

Turnover reached $58.7bn in FY2025. Gross profit was $48.1bn — a gross margin above 81%. Operating profit was $13.7bn (roughly 23% of revenue), and profit after tax came in at $10.2bn. All three profit lines grew faster than revenue, indicating improving operational leverage rather than mere volume growth.

Source · P&L FY2024–FY2025

Q3 Who owns and controls the business, really?

No person of significant control is registered at Companies House.

The filing notes either fragmented sub-25% ownership or nominee holding — consistent with a major FTSE-listed plc with dispersed institutional shareholders. The board of twelve directors, spanning seven nationalities, exercises governance. No single individual or parent entity exerts declared control.

Source · PSC Register; Director filings at Companies House

Q4 Is the filing history clean, or are accounts late / amended?

Most recent accounts were filed on 25 April 2026 — no indication of late or amended filings in the brief.

The company has a long name history (originally incorporated as Hackplimco (No. Five) Public Limited Company in 1992, becoming Zeneca Group PLC in 1993, and AstraZeneca PLC in 1999 following merger), but no compliance concerns are flagged. The Compliance filing evidence summary dimension sits at 70/100.

Source · Filing Signals; Name History; Verif-AI filing evidence summary

Q5 Which note disclosures merit attention?

The filing brief does not disclose notes-level detail on secured charges or going-concern wording.

The most notable signal is the near-doubling of financing cash outflows to $7.5bn, from $4.0bn the prior year — the driver is not itemised in the brief. A capital allotment (SH01) was filed in July 2026. The overall Verif-AI filing evidence summary is 62/100, with the Financial dimension scoring lowest at 55/100.

Source · Cash Flow Statement FY2024–FY2025; Filing Signals; Verif-AI filing evidence summary

Honest limits

What the filings can't tell you

We surface gaps plainly rather than guess. Use the chapters and tabs below to dig into what is on record.

Data quality note

No segmental breakdown of R&D costs by region was provided in the source findings, making it difficult to assess how much of the Americas operating loss reflects allocated research spend versus genuine commercial underperformance.

Origin

AstraZeneca PLC

AstraZeneca PLC is a Swedish-British multinational pharmaceutical and biotechnology company headquartered in Cambridge, UK. It researches, develops, and sells prescription medicines across oncology, cardiovascular, respiratory, and rare disease therapy areas worldwide.

Where the money comes from

Revenue $58.7bn (FY2025), up 9% YoY This is the total revenue line reported in the filed accounts.

At a glance

Key data

Founded 1992 8 years on file

Turnover $58.74bn ▲ +8.6% YoY

Pre-tax profit $12.40bn ▲ +42.7% YoY

Auditor Audited — unqualified opinion PricewaterhouseCoopers LLP

Timeline

How we got here

2026 01 of 20

Stock-exchange listing

Delisted from Nasdaq, Joins NYSE

AstraZeneca was removed from the Nasdaq-100 index and delisted its American depositary receipts from Nasdaq, relisting ordinary shares directly on the New York Stock Exchange from 2 February 2026.

2022 02 of 20

Big year-on-year change

Profit after tax surge

Profit after tax more than doubled — from $115.0m to $3.29bn in a single year (+2763%).

2021 03 of 20

Big year-on-year change

Net assets surge

Net assets more than doubled — from $15.64bn to $39.29bn in a single year (+151%).

2021 04 of 20

Acquisition

Alexion Pharmaceuticals Acquired

AstraZeneca acquired Alexion Pharmaceuticals in July 2021, significantly expanding its rare disease portfolio and adding a major biologics pipeline to its operations.

2020 05 of 20

Big year-on-year change

Profit after tax surge

Profit after tax more than doubled — from $1.23bn to $3.14bn in a single year (+156%).

2020 06 of 20

Notable event

Oxford-AstraZeneca COVID Vaccine Approved

The United Kingdom granted emergency use authorisation for the Oxford–AstraZeneca COVID-19 vaccine, making AstraZeneca a central figure in the global pandemic response.

2019 07 of 20

Acquisition

Daiichi Sankyo Cancer Drug Deal

AstraZeneca agreed to pay up to $6.9 billion to co-develop Daiichi Sankyo's experimental breast cancer treatment trastuzumab deruxtecan, financing part of the deal through a $3.5 billion share issue.

2019 08 of 20

Joined the board

Tony Shu Kam Mok joins the board

Tony Shu Kam Mok was first appointed as a director on 1 January 2019.

2017 09 of 20

Joined the board

Sherilyn Dawn Mccoy joins the board

Sherilyn Dawn Mccoy was first appointed as a director on 1 October 2017.

2018 10 of 20

Where our data starts

Financial deep-dive begins

Earliest analysed accounts: FY2018. 19 years of earlier trading history are not in scope — this report pulls the most recent filed accounts from Companies House.

2017 11 of 20

Joined the board

Philip Arthur John Broadley joins the board

Philip Arthur John Broadley was first appointed as a director on 27 April 2017.

2014 12 of 20

Secured borrowing

Secured a registered charge

A registered charge registered against the company on 26 November 2014 in favour of Astrazeneca Pensions Trustee Limited (And Its Successors in Title and Permitted Transferees).

2014 13 of 20

Crisis

Pfizer Takeover Bid Rejected

AstraZeneca rejected Pfizer's final takeover offer of $55 per share, valuing the company at $69.4 billion; the deal would have been the largest-ever foreign takeover of a British company but faced fierce opposition from UK politicians and scientists.

2013 14 of 20

Crisis

Major Restructuring and HQ Move

AstraZeneca announced closure of R&D sites in Alderley Park, Loughborough, and Lund, a $500 million Cambridge R&D campus investment, and plans to relocate its corporate headquarters from London to Cambridge, cutting nearly 4,000 jobs.

2012 15 of 20

Leadership change

Pascal Soriot Named CEO

Pascal Soriot was appointed CEO of AstraZeneca in August 2012, following the retirement of David Brennan, marking a pivotal leadership transition as the company faced a significant patent cliff.

2010 16 of 20

Regulatory event

Seroquel Fraud Settlement

AstraZeneca settled a qui tam lawsuit for $520 million over allegations it defrauded Medicare, Medicaid, and other government health programmes through illegal marketing of its antipsychotic drug Seroquel.

2007 17 of 20

Acquisition

MedImmune Acquired for $15.2bn

AstraZeneca acquired US biologics company MedImmune for approximately $15.2 billion to gain flu vaccines and anti-viral treatments, consolidating all biologics operations under the MedImmune brand.

1999 18 of 20

Founding milestone

Astra and Zeneca Merge

Astra AB and Zeneca Group merged to form AstraZeneca plc, with headquarters in London; Zeneca shareholders received 53.5% and Astra shareholders 46.5% of the combined entity.

1999 19 of 20

Joined the board

Marcus Wallenberg joins the board

Marcus Wallenberg was first appointed as a director on 5 April 1999.

1999 20 of 20

Name changed

Rebrand

Previously incorporated as Zeneca Group PLC.

Go deeper

Explore the evidence

Explore 02Financials 03Review 05People 07Detailed findings 08Filings 08Summary 09Verification

02 · Financials

The numbers, year by year

FY2025 audited accounts · Companies House (PDF accounts)

Scene 01 · Revenue

Turnover doubled in 7 years

From $22.09bn in FY2018 to $58.74bn in FY2025 — a 166% increase. The most dramatic acceleration came in FY2021, when turnover surged 41% in a single year.

Annual Turnover vs Cost of Sales

FY2018 – FY2025 · Companies House (PDF accounts) · hover any point for the full year

Turnover Cost of Sales Gross Profit (shaded gap)

Latest turnover · FY2025 $58.74bn +8.6% vs prior year

Cost of sales · FY2025 $10.63bn Gross margin 81.9% of turnover

Gross profit (implied) $48.11bn Turnover minus cost of sales

Across 7 years +166% $22.09bn → $58.74bn

’18 ’19 ’20 ’21 ’22 ’23 ’24 ’25

Scene 02 · Metrics

The headline numbers

All figures in USD ($) · as filed, not converted

Cash at bank $5.71bn ▲ +4.1% vs $5.49bn FY2024 Up 4.1% year on year.

Turnover $58.74bn ▲ +8.6% vs $54.07bn FY2024 Up 8.6% year on year.

Pre-tax profit $12.40bn ▲ +42.7% vs $8.69bn FY2024 Up 42.7% year on year.

Net assets $48.72bn ▲ +19.2% vs $40.87bn FY2024 Up 19.2% year on year.

Filing signals

Calculated indicators · 5 filed calculations

Critical liquidity risk Low quick ratio Negative working capital Net assets growing Profitable

          + Review notes
        

Critical liquidity risk — Current ratio of 0.4 — the company may struggle to pay short-term bills
Low quick ratio — Quick ratio of 0.19 — limited ability to cover liabilities without selling stock
Negative working capital — Cash covers 19% of current liabilities. At this scale this typically reflects extended supplier terms, deferred revenue, and short-term bridging via banking facilities.
Net assets growing — Net assets grew 19.2% year-on-year — the company is building value
Profitable — PBT of $12.4bn on turnover of $58.74bn

Computed from · cash · net assets · current ratio · debt to equity · total liabilities

Scene 03 · Trends

How the numbers moved

8 years of revenue, profit and operating performance side-by-side. Hover any dot for the full year cross-section.

Financial performance trends

Revenue, profitability and operating growth over time

Turnover Gross profit Operating profit

’18 ’19 ’20 ’21 ’22 ’23 ’24 ’25

Financial year

Scene 05 · Full detail

Complete P&L statement

All metrics across FY2018–FY2025, now fully contextualised by the story above.

Profit and loss

USD

Metric	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Δ YoY
Turnover	$22.09bn	$24.38bn	$26.62bn	$37.42bn	$44.35bn	$45.81bn	$54.07bn	$58.74bn	▲ 9%
Cost of sales	-$4.94bn	-$4.92bn	-$5.30bn	-$12.44bn	-$12.39bn	-$8.27bn	-$10.21bn	-$10.63bn	▼ 4%
Gross profit	$17.15bn	$19.46bn	$21.32bn	$24.98bn	$31.96bn	$37.54bn	$43.87bn	$48.11bn	▲ 10%
Other operating income	$2.53bn	$1.54bn	$1.53bn	$1.49bn	$514.0m	$1.34bn	$252.0m	$381.0m	▲ 51%
Administrative expenses	-$10.03bn	-$11.68bn	-$11.29bn	-$15.23bn	-$18.42bn	-$19.22bn	-$19.98bn	-$19.93bn	— 0%
Other operating costs derived	-$6.26bn	-$6.40bn	-$6.39bn	-$10.18bn	-$10.30bn	-$11.47bn	-$14.14bn	-$14.81bn	—
Operating profit	$3.39bn	$2.92bn	$5.16bn	$1.06bn	$3.76bn	$8.19bn	$10.00bn	$13.74bn	▲ 37%
Finance income	$138.0m	$172.0m	$87.0m	$43.0m	$95.0m	$344.0m	$458.0m	$360.0m	▼ 21%
Finance costs	-$1.42bn	-$1.43bn	-$1.31bn	-$1.30bn	-$1.35bn	-$1.63bn	-$1.74bn	-$1.69bn	▲ 3%
Profit before tax	$1.99bn	$1.55bn	$3.92bn	-$265.0m	$2.50bn	$6.90bn	$8.69bn	$12.40bn	▲ 43%
Tax	-$57.0m	-$321.0m	-$772.0m	-$380.0m	-$792.0m	-$938.0m	-$1.65bn	-$2.17bn	▼ 31%
Profit after tax	$2.05bn	$1.23bn	$3.14bn	$115.0m	$3.29bn	$5.96bn	$7.04bn	$10.23bn	▲ 45%
EBITDA (memo)	$7.14bn*	$6.69bn*	$5.16bn	$1.06bn	$13.57bn	$13.52bn	$10.00bn	$13.74bn	▲ 37%

Balance sheet

USD

Metric	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Δ YoY
Intangible assets	$21.96bn	$20.83bn	$32.79bn	$62.38bn	$39.31bn	$38.09bn	$37.18bn	$37.85bn	▲ 2%
Tangible assets	$7.42bn	$7.69bn	$8.25bn	$9.18bn	$8.51bn	$9.40bn	$10.25bn	$12.96bn	▲ 26%
Investments	$833.0m	$1.46bn	$1.27bn	$1.24bn	$1.30bn	$1.65bn	$1.88bn	$2.52bn	▲ 34%
Total fixed assets	$45.06bn	$45.81bn	$47.19bn	$79.12bn	$73.89bn	$76.06bn	$78.21bn	$85.35bn	▲ 9%
Stocks	—	—	—	—	—	—	—	—	—
Debtors	—	—	$7.02bn	$9.64bn	—	—	—	—	—
Cash at bank	$4.83bn	$5.37bn	$7.83bn	$6.33bn	$6.17bn	$5.84bn	$5.49bn	$5.71bn	▲ 4%
Total current assets	$15.59bn	$15.56bn	$19.54bn	$26.24bn	$22.59bn	$25.05bn	$25.83bn	$28.72bn	▲ 11%
Trade creditors	-$12.84bn	-$13.99bn	-$15.79bn	-$18.94bn	-$19.04bn	-$22.37bn	-$22.46bn	-$25.28bn	▼ 13%
Bank loans (current)	-$1.75bn	-$1.82bn	-$2.19bn	-$1.66bn	-$5.31bn	-$5.13bn	-$2.34bn	-$3.10bn	▼ 33%
Total current liabilities	$16.29bn	$18.12bn	$20.31bn	$22.59bn	$26.29bn	$30.54bn	$27.87bn	$30.62bn	▲ 10%
Net current assets	-$701.0m	-$2.55bn	-$763.0m	$3.65bn	-$3.70bn	-$5.49bn	-$2.04bn	-$1.89bn	▲ 7%
Total assets less current liabilities	—	—	$15.64bn	$39.29bn	—	—	$40.87bn	$48.72bn	▲ 19%
Bank loans (non-current)	-$17.36bn	-$15.73bn	-$17.50bn	-$28.13bn	-$22.96bn	-$22.36bn	-$26.51bn	-$24.71bn	▲ 7%
Long-term liabilities	$30.32bn	$28.66bn	$30.78bn	$43.48bn	$33.13bn	$31.41bn	$35.30bn	$34.74bn	▼ 2%
Provisions	$891.0m	$1.56bn	$1.56bn	$1.72bn	$1.62bn	$2.15bn	$2.19bn	$1.60bn	▼ 27%
Net assets	$14.04bn	$14.60bn	$15.64bn	$39.29bn	$37.06bn	$39.17bn	$40.87bn	$48.72bn	▲ 19%
Total equity	$14.04bn	$14.60bn	$15.64bn	$39.29bn	$37.06bn	$39.17bn	$40.87bn	$48.72bn	▲ 19%

Cash flow

USD

Metric	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Δ YoY
Net cash from operating activities	$2.62bn	$2.97bn	$4.80bn	$5.96bn	$9.81bn	$10.35bn	$11.86bn	$14.57bn	▲ 23%
Net cash used in investing activities	$963.0m	-$657.0m	$285.0m	$11.06bn	-$2.96bn	-$4.06bn	-$7.98bn	-$6.81bn	▲ 15%
Net cash used in financing activities	-$2.04bn	-$1.76bn	$2.20bn	$3.65bn	-$6.82bn	-$6.57bn	-$4.00bn	-$7.54bn	▼ 89%
Net increase / (decrease) in cash	$1.54bn	$547.0m	$2.31bn	-$1.45bn	$25.0m	-$286.0m	-$115.0m	$223.0m	swung +
Cash at end of year	$4.67bn	$5.22bn	$7.55bn	$6.04bn	$5.98bn	$5.64bn	$5.49bn	$5.71bn	▲ 4%

Scene 04 · Waterfall

From revenue to profit

How the reported revenue, costs and tax figures combine to produce profit after tax. The table shows the filed flow for the latest year.

Revenue$58.74bn
Cost of sales−$10.63bn
Gross profit$48.11bn
Operating costs−$34.36bn
Operating profit$13.74bn
Tax−$3.51bn
Profit after tax$10.23bn

FY2025 audited accounts · cascade view

04 · Filing notes

What the filings reveal

Filed records and calculated indicators

Screening No match recorded Sanctions · PEP · disqualified register Current ratio 0.94× short-term cover Current assets ÷ current liabilities · FY2025 audited accounts Source-check records 2 filed items Listed from the screening output Auditor Audited — unqualified opinion PricewaterhouseCoopers LLP

Working capital + cash

Where the money sits

Four numbers that tell you how stretched the balance sheet is today. The line under each is in plain English — what the number means for the business, not what to do about it.

Short-term cover Current ratio · liquidity 0.94× The filing reports $0.94 of current assets for each $1 of current liabilities.

Profit-to-cash Cash conversion · earnings quality 106% The filing reports $1.06 of operating cash flow for each $1 of operating profit.

Brand & goodwill share Intangibles ratio · asset quality 33.2% A notable 33.2% of the balance sheet is intangible — patents, brands, goodwill. Real value but harder to verify if challenged.

Screening status

Independent checks completed

No critical filing notesNo critical source pattern Sanctions check · No matchScreening completed PEP screen · No match recordedPEP sources · 0 matches Disqualified directors · NoneCH disqualified register · clear Auditor · PricewaterhouseCoopers LLP Audited — unqualified opinion Status · Active

Compliance signals

What the compliance pass surfaced

Weak sanctions name overlap

Screening returned a partial name overlap: 'RODGERS, Anthony Thomas George' against 'George' on the Isil (Da'esh) and Al-Qaeda (United Nations Sanctions) (EU Exit) Regulations 2019 list (85% name similarity). No identifier corroboration — an unconfirmed overlap, not a confirmed hit.

Outstanding registered charge

One outstanding charge is recorded at Companies House, consistent with standard secured lending arrangements.

04 · Market

Registered activities

Companies House SIC2007 classifications · optional comparison

Industry classification

Multiple SIC divisions recorded

Companies House records the SIC2007 classification for this entity under 4 codes: 21100, 21200, 46460, 72110.

Sector context · thin

No segment, concentration, or stated-priorities block was available in the retained filing data for this report. The SIC classifications above describe the registered activities.

05 · People

The people behind the company

12 active directors · 0 PSCs · 27.8m UK appointments cross-referenced

Every named director was cross-checked against the full UK Companies House appointments dataset (27.8 million records). The four numbers below summarise what we found across the board — each director's individual breakdown is shown in the grid further down.

Directors analysed 12 1 corporate · cross-checked against 27.8m records

Avg failure rate 0.0% share of prior companies that went into liquidation / dissolution

Max concurrent boards 5 most active director sits on 5 boards · 1.5 avg

Phoenix signals 0 no director linked to dissolved-and-restarted companies

Each director, individually

Career history + cross-references

Role	Director	Career boards	Concurrent	Prior-failure rate	Joined	Other UK boards
Director	Marcus Wallenberg Swedish	5	2	0.0%	25 January 1995

Director · active	Pascal Claude Roland Soriot French, Australian · Switzerland	4	3	0.0%	1 October 2012

Director · active	Philip Arthur John Broadley British · United Kingdom	1	—	—	27 April 2017	—
Director · active	Sherilyn Dawn Mccoy American · United States	1	—	—	1 October 2017	—
Director · active	Tony Shu Kam Mok Canadian · Hong Kong	1	—	—	1 January 2019	—
Director · active	Michel Roger Demare Belgian, Swiss · Switzerland	1	—	—	1 September 2019	—
Director · active	Euan Angus Ashley British, American · United States	1	—	—	1 October 2020	—
Director · active	Diana Louise Patricia Layfield British · England	1	—	—	1 November 2020	—
Director · active	Aradhana Sarin American · United States	5	5 busy	0.0%	1 August 2021

Co-director network

Who sits on other UK boards alongside these directors

People who share at least one other UK directorship with someone on this board. Sorted by overlap count. Click any shared boards chip to reveal the companies they overlap on.

MR Adrian Charles Noel Kemp 62 career appointments 5 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
AstraZeneca Intermediate Holdings Limited No. 06442028 · Director · Active
Kudos Pharmaceuticals Limited No. 03479984 · Director · Active
Medimmune Limited No. 02451177 · Director · Active

Iain Alistair Collins 16 career appointments 4 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
AstraZeneca Intermediate Holdings Limited No. 06442028 · Director · Active
Kudos Pharmaceuticals Limited No. 03479984 · Director · Active
Medimmune Limited No. 02451177 · Director · Active

SIR Thomas Fulton Wilson Mckillop 13 career appointments 3 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
British Pharma Group Limited No. 02538510 · Director · Active
Sustainable Markets Initiative Limited No. 14752095 · Director · Active

David Richard Brennan 5 career appointments 3 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
British Pharma Group Limited No. 02538510 · Director · Active
Sustainable Markets Initiative Limited No. 14752095 · Director · Active

Simon Jonathan Lowth 4 career appointments 3 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
British Pharma Group Limited No. 02538510 · Director · Active
Sustainable Markets Initiative Limited No. 14752095 · Director · Active

DR John Simon Patterson 5 career appointments 3 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
British Pharma Group Limited No. 02538510 · Director · Active
Sustainable Markets Initiative Limited No. 14752095 · Director · Active

MR Graeme Harold Rankine Musker 25 career appointments 3 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
British Pharma Group Limited No. 02538510 · Director · Active
Sustainable Markets Initiative Limited No. 14752095 · Director · Active

MR Ian Martin David Brimicombe 24 career appointments 3 shared boards

AstraZeneca UK Limited No. 03674842 · Director · Active
AstraZeneca Intermediate Holdings Limited No. 06442028 · Director · Active
Kudos Pharmaceuticals Limited No. 03479984 · Director · Active

Claes Ake Gustaf Dahlback 2 career appointments 2 shared boards

Scania Cv Aktiebolag No. FC020475 · Director · Active
Skandinaviska Enskilda Banken Ab (Publ) No. FC014326 · Director · Active

Claes Axel Wilhelm Mauritz Von Post 5 career appointments 2 shared boards

Scania Cv Aktiebolag No. FC020475 · Director · Active
Skandinaviska Enskilda Banken Ab (Publ) No. FC014326 · Director · Active

Corporate hierarchy

Group structure on file

Subsidiaries pulled from Companies House cross-references — entities AstraZeneca PLC directly controls.

Subsidiary · Active AstraZeneca Intermediate Holdings Limited

Number06442028

Subsidiary · Active AstraZeneca Us Investments Limited

Number04476540

Group · collective view

Group at a glance

A comparison of 3 separately-filed entities — not a statutory consolidation. Each company files its own accounts at Companies House; figures are summed where comparable, and flagged where not.

Across the 3 companies grouped under ASTRAZENECA PLC, 1 filed financial figures, with combined net assets of $48.7bn (summed, not consolidated) — of which about 100% sits with ASTRAZENECA PLC. 3 are trading and 0 are dormant or non-trading on the latest filings. Secured charges are recorded against 1 of the 3 companies.

Combined net assets $48.7bn Summed, not consolidated · 1 of 3 report figures

Entities 3 3 trading · 0 dormant

Concentration 100% of net assets sit in AstraZeneca PLC

Direction — 0 growing · 0 declining · 1 with charges

Entity	Scale	Net assets	Employees	Turnover	Trend	Charges	Status
AstraZeneca PLC 02723534 · FY2025	Full	$48.7bn	—	$58.7bn	·	1	Active
AstraZeneca Intermediate Holdings Limited 06442028	Full	—	—	—	·	—	Active
AstraZeneca Us Investments Limited 04476540	Full	—	—	—	·	—	Active

Group · structure map

How the group fits together

Each circle is one company in the group, sized by net assets and coloured by filing signals. Lines show the evidenced connections between them — ownership, shared directors, or a shared charge. Arranged top-to-bottom by ownership. A comparison of separately-filed entities, not a statutory consolidation.

Group · inter-company exposure

How the entities are connected

These are the evidenced links between the separately-filed entities — the connections a consolidated set of accounts would net out. Each link shows the register it was drawn from, so it can be checked rather than taken on trust.

2 control links

About 100% of the group's positive net assets sit with ASTRAZENECA PLC (summed, not consolidated).

AstraZeneca PLC

Evidenced link Source · Filed accounts / Companies House

Corporate group

The wider business

ASTRAZENECA PLC is connected to 2 subsidiaries across the wider group. Each link shows its evidence, so the grouping can be checked rather than taken on trust.

Subsidiary · Active AstraZeneca Intermediate Holdings Limited

Number06442028

Ch HierarchyCompanies House group hierarchy — subsidiary

Subsidiary · Active AstraZeneca Us Investments Limited

Number04476540

Ch HierarchyCompanies House group hierarchy — subsidiary

        + Show the 54 resigned officers
      

Historical board

Resigned network

Every officer who has left the company, newest-resignation first. Helps spot waves of churn that wouldn't show on the active-director cards alone.

1993

Dennis Alan Chatterway

Nominee Secretary Served 1992 → 1993

2025

Adrian Charles Noel Kemp

Secretary Served 2009 → 2025

2008

Graeme Harold Rankine Musker

Secretary Served 1993 → 2008

2010

Bo Anders, Professor Angelin

Director Served 2007 → 2010

2016

Cornelia Isabella, Dr Bargmann

Director Served 2015 → 2016

2001

James David Francis, Sir Barnes

Director Served 1993 → 2001

2004

Percy Barnevik

Director Served 1999 → 2004

2021

Genevieve Bernadette, Professor Berger

Director Served 2012 → 2021

2007

Peter Leahy, Sir Bonfield

Director Served 1995 → 2007

2012

David Richard Brennan

Director Served 2005 → 2012

2010

John Gordon Sinclair, Sir Buchanan

Director Served 2002 → 2010

2017

Donald Bruce, Dr Burlington

Director Served 2010 → 2017

2017

Ann Cairns

Director Served 2014 → 2017

1995

Amos Henry, Lord Chilver

Director Served 1993 → 1995

2021

Graham Chipchase

Director Served 2012 → 2021

2016

Jean-Philippe Courtois

Director Served 2008 → 2016

1999

Peter, Doctor Doyle

Director Served 1993 → 1999

2021

Marc Pierre Jean Dunoyer

Director Served 2013 → 2021

2025

Deborah Disanzo Eldracher

Director Served 2017 → 2025

1999

Richard, Sir Greenbury

Director Served 1993 → 1999

2026

Rene Anthony Andrada Haas

Director Served 2025 → 2026

1995

Denys Hartley, Sir Henderson

Director Served 1993 → 1995

2011

Jane Ellen, Dr Henney

Director Served 2001 → 2011

2012

Michele Hooper

Director Served 2003 → 2012

2007

Joseph Jimenez

Director Served 2003 → 2007

2023

Leif Valdemar Johansson

Director Served 2012 → 2023

1996

Gillian Margaret Lewis

Director Served 1993 → 1996

1999

Sydney, Sir Lipworth

Director Served 1994 → 1999

2013

Simon Jonathan Lowth

Director Served 2007 → 2013

2019

Rudolph Harold Peter Markham

Director Served 2008 → 2019

1997

John Charles Mayo

Director Served 1993 → 1997

2005

Thomas Fulton Wilson, Sir Mckillop

Director Served 1996 → 2005

1999

Francois Louis Virginie Meysman

Director Served 1996 → 1999

2009

Hakan Lars, Dr Sc Mogren

Director Served 1999 → 2009

2007

Erna Birgitta Irmgard Moller

Director Served 1999 → 2007

1999

Christopher Jeremy, Sir Morse

Director Served 1993 → 1999

2006

Bridget Margaret, Dame Ogilvie

Director Served 1997 → 2006

2009

John Simon, Dr Patterson

Director Served 2005 → 2009

1999

Alan Ind Harvey Pink

Director Served 1993 → 1999

2000

Michael Patrick Pragnell

Director Served 1997 → 2000

2026

Sabera Nazneen Rahman

Director Served 2017 → 2026

2002

Lars Henry Ramquist

Director Served 1999 → 2002

1995

Anthony Thomas George Rodgers

Director Served 1993 → 1995

2015

Nancy Jane, Professor Rothwell

Director Served 2006 → 2015

2025

Andreas Rummelt

Director Served 2021 → 2025

2012

Louis Pierre Jean Schweitzer

Director Served 2004 → 2012

2003

Ake Bo Stavling

Director Served 1999 → 2003

2007

Jonathan Richard Symonds

Director Served 1997 → 2007

2018

Shriti, The Rt Hon Baroness Vadera

Director Served 2011 → 2018

2015

John Varley

Director Served 2006 → 2015

2004

Karl Mueller Von Der Heyden

Director Served 1998 → 2004

2002

Claes Erik, Dr Wilhelmsson

Director Served 1999 → 2002

1998

Thomas Hunt Wyman

Director Served 1993 → 1998

1993

Hackwood Service Company

Corporate Nominee Director Served 1992 → 1993

06 · Filing review

Filing brief open · File no. 02723534 · 12 September 2026 · Filing evidence · 13 pages cited · Source-linked findings · 33

Astrazeneca Plc reported $58.7bn revenue in FY2025, up 166% across 8 filed years..

Source-linked review across 100 Companies House filings. 33 page-cited findings from three source checks, 2 cross-signal correlations, and 4 source-check questions — every material statement traces back to a filing reference.

Key findings

Verified material findings

Open summary →

Context

Context to the summary

Open filing context →

Supporting

Supporting facts

Open detailed findings →

Evidence

Distinct pages cited

Open verification →

Key findings are the highest-materiality statements. Context and supporting facts remain available below.

Start here

The short version, then the evidence

Read the summary first. Open the detailed findings when you want the supporting facts, and the verification chapter when you want to see how the record was checked.

See detailed findings →

01Read the summaryWhat the filed record shows at a glance. 02Open the evidenceSupporting facts and detailed findings. 03Check the sourceHow the figures and statements were checked.

Filing context

What the numbers, the board, and the ownership say

Filed figures, board records and ownership information in one view.

Balance sheet

Fixed assets grew to $85.4bn in FY2025 — up from $45.1bn in FY2018, largely reflecting the Alexion acquisition in FY2021. Net assets of $48.7bn are the highest in the dataset and growing, while the intangible-heavy asset base (40.6% of total assets) is normal for a patent-driven pharma group but would carry limited liquidation value.

Open filed source ↗

Board

Pascal Soriot (CEO) leads a board that includes scientific, commercial, and governance specialists — appointment dates not disclosed in the extracted data.

Open filed source ↗

Ownership

Listed PLC on LSE and NASDAQ — no single controlling shareholder; institutional ownership typical of a large-cap global pharmaceutical group. No PSC on record, consistent with widely dispersed institutional and retail shareholding across multiple geographies.

Open filed source ↗

Filed accounts · Chapter detail

The filing, chapter by chapter

Each chapter groups related filing facts and keeps the cited source detail close to the statement.

Revenue Grows, Profit Flies

A 9% rise in sales produced a 45% rise in profit after tax — the gap between the two numbers is the story.

+45%

Profit after tax FY2024 $7.0bn FY2025 $10.2bn

The source detail

Source · P&L FY2024–FY2025

Cash Machine, Not Just Profits

Operating cash generation outpaced even the strong profit figure, rising 23% to $14.6bn.

Operating cash flow

FY2024 $11.9bn

FY2025 $14.6bn

The source detail

Source · Cash Flow Statement FY2024–FY2025

The Balance Sheet Strengthens

Net assets rose 19% to $48.7bn as long-term liabilities actually shrank.

+19%

Net assets FY2024 $40.9bn FY2025 $48.7bn

The source detail

Source · Balance Sheet FY2024–FY2025

Liquidity: Scale Meets Tension

Cash of $5.7bn sits against current liabilities of $30.6bn — a gap the operating cash engine covers.

$5.7bn Cash on hand

$30.6bn Current liabilities

The source detail

Source · Balance Sheet FY2025; Cash Flow Statement FY2025

Financing: A Sharp Reversal

Financing cash outflows nearly doubled to $7.5bn — the biggest directional shift in the cash flow statement.

-89%

Financing cash outflows FY2024 -$4.0bn FY2025 -$7.5bn

The source detail

Source · Cash Flow Statement FY2024–FY2025; Filing Signals (SH01, 2026-07-02)

Governance: Global Board, No Single Owner

Twelve directors spanning seven nationalities; no person of significant control on record.

No PSC registered Fragmented / nominee ownership
Listed entity AstraZeneca PLC (No. 02723534)
Board (12 directors) 7 nationalities represented
CEO since Oct 2012 Pascal Claude Roland Soriot

Source · PSC Register; Director filings at Companies House

Cross-chapter connections

Linked facts across the filing

Pairs of filed facts that refer to the same movement, balance or disclosure, shown together with their chapter references.

The $7.5bn financing outflow in [chapter 5] is nearly 74% of the $10.2bn profit after tax in [chapter 1] — meaning a material share of earnings left the business via financing channels in FY2025.

Operating cash of $14.6bn in [chapter 2] is the practical answer to the liquidity gap visible in [chapter 4], where cash of $5.7bn sits against current liabilities of $30.6bn.

Additional filed details

Details from the filing

Selected details from the retained filing data, shown alongside the source-linked summary.

Inventory growing 24% against 8.6% revenue growth

Consistent with a pharmaceutical group building safety stock ahead of major product launches, or extending supply-chain buffers post-COVID. If this divergence continues into the next filing year, it would warrant a closer look at inventory ageing — but at this stage it appears to be a deliberate operational choice rather than a sign of unsold product accumulating.

Open filed source ↗

Trade creditors $25.3bn — the largest single current liability

AstraZeneca is a very large, slow payer by the numbers (creditor days shown as -157 in the pre-calculated data). This is typical for a company with significant purchasing power in its supply chain — suppliers extend long credit terms because the volume of business justifies it. For any supplier assessing payment risk, the scale of the creditor book is relevant context.

Open filed source ↗

Cash conversion of 142.4% — operating cash exceeds reported profit

Appears to reflect working capital timing benefits and non-cash charges (depreciation, amortisation of acquired intangibles) that reduce accounting profit without reducing cash. This is a positive quality signal — the profit is conservative relative to the actual cash being generated.

Open filed source ↗

Source-linked review · 33 findings

Detailed findings from the filed accounts

Segmental revenue · capital structure · strategic KPIs. Each material statement includes its filing-page reference.

Segment information

US is the biggest single country — nearly 41% of total revenue

US Total Revenue 2025: $23,970m (2024: $21,806m), up 9.9% YoY. US share of Group total: 40.8% in 2025 vs 40.3% in 2024.

p.5 · 7 related findings

Reported indicators

Total Revenue up 9% to $58.7bn — strong broad-based growth

Total Revenue rose 9% at actual exchange rates to $58,739m in 2025 (2024: $54,073m; 2023: $45,811m).

p.3, p.4, p.13 · 12 related findings

Capital structure

Total debt is $29.6bn, down slightly from $30.3bn last year

Total interest-bearing loans and borrowings at 31 December 2025 were $29,622m (2024: $30,295m), all unsecured.

p.157 · 11 related findings

          + Show all 33 detailed findings
        

Segment information (8)

US is the biggest single country — nearly 41% of total revenue

US Total Revenue 2025: $23,970m (2024: $21,806m), up 9.9% YoY. US share of Group total: 40.8% in 2025 vs 40.3% in 2024.

p.5 Primary

The Americas region is loss-making at operating profit level

The Americas operating profit 2025: -$213m (2024: +$318m; 2023: +$1,328m). This is a swing from profit to loss of $531m in one year.

p.6 Primary

UK and Rest of Europe dominate operating profit and grew strongly

UK operating profit 2025: $7,066m (2024: $2,680m), up 164% YoY. Rest of Europe: $5,233m (2024: $5,924m), down 11.7%. Together they represent $12,299m out of group total $13,743m — about 89% of operating profit.

p.6 Primary

UK operating profit more than doubled — a very large year-on-year jump

UK operating profit rose from $2,680m in 2024 to $7,066m in 2025, a rise of $4,386m or 164%. UK profit before tax also jumped from $1,349m to $6,152m.

p.6 Primary

China revenue grew but is slowing as a share of Asia total

China Total Revenue 2025: $6,636m (2024: $6,419m), up 3.4% YoY. China share of Asia, Africa & Australasia region: 49.6% in 2025 vs 50.8% in 2024.

p.5 Context

Asia, Africa & Australasia operating profit grew but remains small

Asia, Africa & Australasia operating profit 2025: $1,004m (2024: $976m), up 2.9%. This region contributes only 7.3% of group operating profit despite $13,368m revenue (22.8% of group total).

p.5, p.6 Context

Group total revenue grew 8.6% — steady across most geographies

Total Revenue increased from $54,073m in 2024 to $58,739m in 2025, a rise of $4,666m (8.6%). Growth was broadly spread: US +9.9%, China +3.4%, Rest of Europe +4.8%.

p.5, p.6 Supporting

AstraZeneca reports as a single segment — no business division split

Note 7 confirms the Group has one reportable segment under IFRS 8. No revenue or profit split by business division is disclosed. Total Revenue 2025: $58,739m; 2024: $54,073m.

p.5 Supporting

Reported indicators (13)

Total Revenue up 9% to $58.7bn — strong broad-based growth

Total Revenue rose 9% at actual exchange rates to $58,739m in 2025 (2024: $54,073m; 2023: $45,811m).

p.3, p.4, p.13 Context

Reported profit jumped 37% — a big one-year earnings leap

Reported Operating Profit rose 37% to $13,743m in 2025 (2024: $10,003m; 2023: $8,193m).

p.3 Context

197 drugs in development pipeline — one of the largest in the sector

AstraZeneca has 197 projects in its development pipeline, including 20 NMEs in late-stage and 125 Phase II/III NME or major life-cycle management projects.

p.4 Context

38 pipeline progression events in 2025 — up sharply from 24 in 2024

Pipeline progression events rose to 38 in 2025 (2024: 24; 2023: 30); 97 regulatory events (submissions or approvals) vs 74 in 2024.

p.11, p.13 Context

$14.2bn invested in science — R&D spend remains very high

AstraZeneca invested $14.2bn in science in 2025, equivalent to approximately 24% of Total Revenue ($58.7bn).

p.4 Context

16 blockbuster medicines each generating over $1bn per year

AstraZeneca now has 16 blockbuster medicines (each generating more than $1bn in annual sales), up from a smaller number in prior years.

p.6 Context

Oncology revenue hit $25.6bn — now 44% of total company sales

Oncology Total Revenue was $25.6bn in 2025, up 15% (14% at CER), representing 44% of Group Total Revenue.

p.4, p.6 Context

Operating cash flow up 23% to $14.6bn — more cash being generated

Net cash inflow from operating activities rose 23% to $14,575m in 2025 (2024: $11,861m; 2023: $10,345m).

p.3, p.12 Context

9 of 20 new medicines delivered — on track for Ambition 2030

AstraZeneca has delivered 9 NMEs against its Ambition 2030 goal of launching at least 20 new medicines (target counted from October 2022).

p.6, p.12 Context

Rare Disease grew only 4% — slowest therapy area in 2025

Rare Disease Total Revenue grew 4% (4% at CER) to $9.1bn in 2025, the lowest growth rate among AstraZeneca's three therapy areas.

p.4, p.6 Supporting

Full-year dividend raised to $3.20 per share — up from $3.10

The Board declared a full-year dividend of $3.20 per share for 2025 (2024: $3.10), a 3% increase.

p.5 Supporting

GHG emissions down 88.1% since 2015 — well ahead of most peers

Scope 1 and 2 greenhouse gas emissions reduced by 88.1% since 2015 (2024: -77.5%; 2023: -67.6%).

p.4, p.7, p.13 Supporting

86% of staff say AZ is a great place to work — stable and high

86% of employees believe AstraZeneca is a great place to work in 2025 (2024: 84%; 2023: 86%), based on the November Pulse survey.

p.13 Supporting

Capital structure (12)

Total debt is $29.6bn, down slightly from $30.3bn last year

Total interest-bearing loans and borrowings at 31 December 2025 were $29,622m (2024: $30,295m), all unsecured.

p.157 Context

Net debt is $23.4bn — improved from $24.6bn the year before

Net debt at 31 December 2025 was $23,374m (2024: $24,570m), after deducting $5,741m of cash and $30m of other investments.

p.61 Context

$3.5bn of debt falls due within 12 months

Current interest-bearing loans and borrowings total $3,486m at 31 December 2025, including two bonds ($1,200m 0.7% and $1,250m 1.2%, both due 2026) and lease liabilities of $382m.

p.157 Context

$4.9bn undrawn revolving credit facility provides a big cash buffer

At 31 December 2025, AstraZeneca held $4,875m of undrawn committed bank facilities maturing April 2030 (extended to April 2031 in January 2026), containing no covenants.

p.61 Context

Dividends paid rose to $4.97bn from $4.63bn — a 7% increase

Dividends paid in 2025 were $4,971m (2024: $4,629m), reflecting a growing dividend per share.

p.60 Context

Own share buybacks: $521m spent buying back shares in 2025

The Employee Benefit Trust purchased $521m of own shares in 2025 (2024: $81m), a large increase year-on-year.

p.60 Context

Interest cover is about 8x — comfortably above danger levels

Operating profit was $13,743m and finance costs were $1,694m, giving an interest cover ratio of approximately 8.1x.

p.147, p.148 Supporting

Debt maturity spread: $6bn in 1-5 years, $17.3bn over 5 years

Payments due schedule: less than 1 year $5,966m, 1-3 years $8,814m, 3-5 years $7,629m, over 5 years $17,338m (total $39,747m including interest charges).

p.61 Supporting

No loan limits (covenants) on the committed bank facilities

The $4,875m committed bank facilities are stated to contain no covenants and were undrawn at 31 December 2025.

p.61 Supporting

A $2bn bond was repaid in November 2025 with no new bonds issued

In November 2025, AstraZeneca repaid a 3.375% USD bond of $2,000m. No bonds were issued in 2025.

p.61 Supporting

IFRS 16 lease liabilities total $1,803m

Total lease liabilities at 31 December 2025 were $1,803m (current $382m, non-current $1,421m), up from $1,452m in 2024.

p.61, p.157 Supporting

Strong operating cash flow of $14.6bn covers all outgoings easily

Net cash from operating activities was $14,575m in 2025 (2024: $11,861m), up 23% year-on-year.

p.60 Supporting

Structured filing detail

Supporting figures extracted from the filing

Segmental revenue, named indicators with year-on-year movements, and capital-structure figures taken from the source filings.

Segmental analysis

Revenue & operating profit by business division

Segment Revenue (latest) Operating profit Rev YoY

UK €4359 €7066 -8.0%

Rest of Europe €13455 €5233 +15.0%

The Americas €27557 €440 +10.3%

Asia, Africa & Australasia €13368 €1004 +5.8%

Top-segment revenue concentration: 46.9% · Segment totals reconcile to the group P&L

Strategic KPIs

8 flagship metrics · 13 supporting

Total Revenue

$58.7bn

+8.6% YoY

Reported Operating Profit

$13.7bn

+37.4% YoY

Core Operating Profit

$18.5bn

+9.2% YoY

Reported EPS

+45.4% YoY

Core EPS

+11.6% YoY

Net cash from operating activities

$14.6bn

+22.9% YoY

Pipeline projects (total)

$197

Phase II/III NME or major LCM projects

$125

+ Show 13 supporting KPIs

NMEs in late-stage pipeline

$20

Science investment

$14.2bn

Pipeline progression events

$38

+58.3% YoY

Regulatory events

$97

+31.1% YoY

Oncology Total Revenue

$25.6bn

+15.0% YoY

BioPharma Total Revenue

$23bn

+5.0% YoY

Rare Disease Total Revenue

$9.1bn

+4.0% YoY

Blockbuster medicines (>$1bn/yr)

$16

Full-year dividend per share

+3.2% YoY

Employee belief AZ is great place to work

86%

+2.4% YoY

Scope 1+2 GHG reduction since 2015

-88.1%

People positively impacted

$320m

NMEs delivered vs Ambition 2030

Capital structure

Debt, cover, and dividend posture

Net debt

$23.4bn

Interest cover

8.1×

Drawn debt

$29.6bn

Undrawn facilities

$4.9bn

Dividend prior year

$4.6bn

Open questions from the filing

Questions raised by the disclosed data

These questions are based on information that was not present or not clear in the retained filing data.

Q01

What drove the Americas operating loss of $213m — is it a one-off charge, a pricing or rebate shift under US Medicare negotiation, or a genuine deterioration in the underlying US business?

↻ Flip for trigger

Why this appears

Q02

Why did UK operating profit jump 164% in a single year? Was there an IP transfer, an intragroup recharge, or a restructuring credit — and is this level of UK profit sustainable or a one-time event?

↻ Flip for trigger

Why this appears

Q03

With oncology now 44% of revenue, which specific drugs face the nearest patent cliffs, and how much of the 197-drug pipeline is positioned to plug those gaps before exclusivity expires?

↻ Flip for trigger

Why this appears

Q04

China growth slowed to just 3.4% — to what extent is volume-based procurement (VBP) compressing prices there, and what is management's realistic revenue outlook for that market over the next three years?

↻ Flip for trigger

Why this appears

Verification gaps

What the filings don't disclose

These are items not present or not clear in the retained filing data. They are shown so the limits of the source are easy to see.

08 · Sources

The filing trail

100 filings · Companies House

Filing distribution

SH01

47%

RESOLUTIONS

18%

TM01

AP01

CH01

CS01

AD03

AD02

Latest filings

2 Jul 2026 SH01 Capital allotment shares 9 Jun 2026 SH01 Capital allotment shares 27 May 2026 CS01 Confirmation statement 19 May 2026 SH01 Capital allotment shares 1 May 2026 TM01 Termination director company with name termination date 30 Apr 2026 RESOLUTIONS Resolution 27 Apr 2026 AUD Auditors resignation company 25 Apr 2026 AA Accounts with accounts type group 13 Apr 2026 TM01 Termination director company with name termination date 9 Apr 2026 SH01 Capital allotment shares 12 Mar 2026 SH01 Capital allotment shares 2 Mar 2026 SH01 Capital allotment shares

Catalyst timeline

Filing pattern + upcoming windows

100 filings · 2022 → 2027

Accounts Officers Capital Resolutions Other

2027Annual accounts

Next annual accounts due

Due at Companies House by 30 June 2027 for the period ending 31 December 2026.

2027Confirmation

Next confirmation statement due

Annual confirmation due by 29 May 2027 (made up to 15 May 2027).

Summary · What the filing shows

What we found

Filing evidence displayed Verif-AI is showing source-linked filing evidence, calculated indicators, and review notes.

Source-linked summary

AstraZeneca turned $54.1bn of sales into $10.2bn net profit in FY2025 — a 45% surge driven by operating leverage, not volume.

FY2025 audited accounts

Open Companies House filing history ↗

Source-linked findings

What supports this summary

Three source-linked facts support this summary. The remaining material is available under Detailed findings.

The Americas region is loss-making at operating profit level

The Americas operating profit 2025: -$213m (2024: +$318m; 2023: +$1,328m). This is a swing from profit to loss of $531m in one year.

Filing context: The Americas, which includes the US — the group's largest revenue region — is now losing money at the operating level, which is a big warning sign even though group profit overall is up.

p.6

09 · Verification

How we know

100 filings · 12 active directors · 276 pages

Retained source method: filed iXBRL. The report also uses the Companies House company, officer and filing records stored with this brief.

2 generated statements were withheld because they did not agree with the structured filing data.

Figures are as filed by the company — Companies House does not verify the accuracy of information filed. Verif-AI checks internal consistency and flags anomalies, but cannot confirm the underlying figures are correct.

Reconciliation

All 34 reconciled lines tie exactly to the filed iXBRL data

Every balance-sheet and profit & loss line traced to where we read it in the filing. iXBRL — read from the company's filed machine-readable tags, with the source label retained. PDF — read from the filed accounts document, with the supporting note cited so you can check it. Flagged — our consistency check marked it for a closer look.

Line Our figure Source in filing Reconciliation

Profit & loss · p.125

Turnover $58.7bn iXBRL ✓ Ties to filing

Cost of sales −$10.6bn iXBRL ✓ Ties to filing

Gross profit $48.1bn iXBRL ✓ Ties to filing

Administrative expenses −$19.9bn iXBRL ✓ Ties to filing

Operating profit $13.7bn iXBRL ✓ Ties to filing

Finance income $360m iXBRL ✓ Ties to filing

Finance costs −$1.7bn iXBRL ✓ Ties to filing

Profit before tax $12.4bn iXBRL ✓ Ties to filing

Tax −$2.2bn iXBRL ✓ Ties to filing

Profit after tax $10.2bn iXBRL ✓ Ties to filing

Depreciation & amortisation −$5.7bn iXBRL ✓ Ties to filing

EBITDA $13.7bn iXBRL ✓ Ties to filing

Balance sheet · p.126

Intangible assets $37.8bn iXBRL ✓ Ties to filing

Tangible assets $13bn iXBRL ✓ Ties to filing

Fixed assets $85.4bn iXBRL ✓ Ties to filing

Stock $6.6bn iXBRL ✓ Ties to filing

Trade debtors $15.2bn iXBRL ✓ Ties to filing

Cash $5.7bn iXBRL ✓ Ties to filing

Current assets $28.7bn iXBRL ✓ Ties to filing

Total assets $114.1bn iXBRL ✓ Ties to filing

Trade creditors −$25.3bn iXBRL ✓ Ties to filing

Current liabilities $30.6bn iXBRL ✓ Ties to filing

Net current assets −$1.9bn iXBRL ✓ Ties to filing

Total assets less current liabilities $48.7bn iXBRL ✓ Ties to filing

Bank loans (current) −$3.1bn iXBRL ✓ Ties to filing

Bank loans (non-current) −$24.7bn iXBRL ✓ Ties to filing

Lease liabilities (current) −$382m iXBRL ✓ Ties to filing

Lease liabilities (non-current) −$1.4bn iXBRL ✓ Ties to filing

Deferred tax −$3.5bn iXBRL ✓ Ties to filing

Long-term liabilities $34.7bn iXBRL ✓ Ties to filing

Provisions $1.6bn iXBRL ✓ Ties to filing

Net assets $48.7bn iXBRL ✓ Ties to filing

Share capital $388m iXBRL ✓ Ties to filing

Profit & loss reserves $11bn iXBRL ✓ Ties to filing

34 read from filed iXBRL tags · 0 from the filed PDF.

What we read

Companies House filings

Total filings 100 2022 → 2026

Accounts filings 5 accounts documents

Officer events 15 appointments + terminations

Capital events 47 share allotments + buybacks

Who we cross-checked

UK director appointment network

Directors verified 12 incl. 1 corporate officer

Records cross-referenced 27.8m UK appointments dataset

Avg failure rate 0.0% across prior appointments

Phoenix scan 0 directors flagged

Screening status

Independent checks completed

No critical filing notesNo critical source pattern Sanctions check · No matchScreening completed Politically-exposed persons · None foundPEP screen · 0 hits Audited — unqualified opinionPricewaterhouseCoopers LLP Auditor · PricewaterhouseCoopers LLP Status · Active

Screened 68 names (registered company + officers/PSCs) against live lists: FCDO Consolidated UK Sanctions List — 57503 entries, refreshed 04 July 2026 · OFAC SDN (US Treasury) + akaName aliases + relationship graph — 39437 entries, refreshed 04 July 2026 · EU Consolidated Financial Sanctions — 29880 entries, refreshed 04 July 2026 · UK Parliament — current Members of Commons & Lords — 1441 entries, refreshed 04 July 2026 · Companies House — Disqualified Directors register, checked 04 July 2026.

Steps we ran

How the report was assembled

Pages read 276 PDF pages analysed

Steps run 9 0 skipped · 9 completed

Source checks 3 recorded review stages

Years analysed 8 filing periods shown

Pipeline — what ran on this report

Read PDF accounts 276 pages Classify filing Extract audit notes Compliance screening Cross-check directors Build company timeline Plain-English analysis Capital structure review Processing filing

Limits and caveats

Limits of this brief

Peer comparison

No sector comparison is included because there is not enough comparable retained filing data for this report.

Persons with significant control

No persons with significant control are recorded against this entity in the retained Companies House PSC data.

Principal disclosures

The retained filing data did not include a structured principal-risks register.

        Plain-English glossary · 9 terms
      

Profit Before Tax (PBT): What the company earned after paying all its costs but before paying the government's share (corporation tax).
In this filing: AstraZeneca's PBT jumped 42.7% to $12.4bn in FY2025 — the single most striking number in this filing.
Net Assets: Everything the company owns minus everything it owes — the net worth of the business.
In this filing: At $48.7bn, AstraZeneca's net assets grew $7.8bn in one year, meaning the business is adding more in value than it is paying out.
Gross Profit / Gross Margin: What's left after deducting the direct cost of making or selling the product — before paying salaries, rent, or R&D.
In this filing: AstraZeneca's gross margin is 81.9% — very high, reflecting patented drugs that cost relatively little to manufacture compared to their selling price.
Cash Conversion: How much of the accounting profit actually turns up as real cash in the bank — not every profit is immediately spendable.
In this filing: At 142.4%, AstraZeneca is collecting more cash than its profit figure alone suggests — working capital movements are releasing cash, not consuming it.
Debtor Days: How many days on average a customer takes to pay after receiving an invoice.
In this filing: AstraZeneca's customers take 94 days to pay — typical for pharmaceutical sales to healthcare systems and government buyers.
Current Liabilities: Bills and debts the company must pay within the next 12 months.
In this filing: AstraZeneca has $30.6bn of current liabilities — a large number, but manageable given its $58.7bn revenue and strong cash generation.
Intangible Assets: Assets you can't touch — drug patents, brand names, and goodwill from acquisitions. They have value as a going concern but are hard to sell quickly.
In this filing: Intangibles and lease assets make up 40.6% of AstraZeneca's total assets — normal for a pharma group, but worth noting for any asset-recovery scenario.
Working Capital Gap: The gap between when you have to pay your suppliers and when your customers pay you — if you pay before you collect, you need cash to bridge the difference.
In this filing: AstraZeneca's 251-day gap requires $40.4bn to bridge — only possible because the company operates at massive scale with strong credit access.
Right-of-Use (ROU) Assets / Lease Liabilities: When a company leases offices, labs, or equipment for several years, the lease appears on the balance sheet both as an asset (the right to use it) and a liability (the obligation to pay).
In this filing: Lease obligations represent 2.7% of AstraZeneca's total visible liabilities — a modest slice, reflecting a business built around intellectual property rather than physical retail or logistics.