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AstraZeneca PLC (AZN) stock analysis

AstraZeneca rebounds toward 12,800p as earnings on Oct 30 loom, still below its 200-day average

AstraZeneca closed at 12,822.00 on Oct 27, 2026, up from its August lows but 18.49% below its 52-week high of 15,730.00. Forward P/E of 15.15× is close to the industry median of 15.05×, with quality metrics strong and analysts rating the stock a Buy. Third-quarter results are due on Oct 30, 2026.

  • Price: 12,822.00
  • Market Cap (USD): $264.03B
  • P/E: 25.31×
  • Fwd P/E: 15.15×
  • Div Yield: 1.86%
  • 1Y Return: 3.35%
  • Next Earnings: Oct 30, 2026
  • Rating: Buy

Bull case

  • Quality is high: the quality score is 94 (98th percentile of GB healthcare), ROIC is 14.08%, ROE is 21.90% and the Piotroski F-score is 9.
  • Earnings have beaten consensus four quarters running; the Jul 27, 2026 report beat by 5.88% and the stock moved 2.13% that day.
  • Analyst sentiment is improving: Nordea upgraded from Sell to Buy on Oct 13, 2026 and Deutsche Bank upgraded from Sell to Hold on Sep 15, 2026, with no downgrades in the past 30 days.

Bear case

  • The trend is still weak: the price is 4.57% below its 200-day average, and the 50-day average sits 8.97% below the 200-day after a death cross on Jul 6, 2026.
  • Revenue growth has slowed to 3.02% year over year in the latest quarter, against 6.93% on a trailing basis, and quarterly EPS growth was -0.62%; the last three reports each missed revenue consensus (latest -0.33%).
  • Liquidity is tight: the current ratio is 0.89× and quick ratio 0.67×, with net debt of 2.06T and net debt to EBITDA of 1.34×.

What to watch

  • Third-quarter earnings on Oct 30, 2026 (confirmed); consensus EPS is 1.95 in the earnings calendar.
  • The 20-day high of 12,980.00 and the 52-week high of 15,730.00 as upside reference levels.
  • The 200-day average at 13,436.52, and the 50-day average at 12,230.64 as nearer support.
  • The 20-day low of 11,716.00 and the 52-week low of 10,524.00 on the downside.

General

AstraZeneca is a large biopharmaceutical company with a broad portfolio spanning oncology, cardiovascular, renal and metabolism, and respiratory and immunology medicines. Fundamentals are strong, and valuation is close to the industry median. The shares have fallen from highs earlier in 2026 but have recovered in October.

Business and performance

The company discovers, develops, manufactures and sells prescription medicines, with oncology products such as Tagrisso, Imfinzi, Enhertu and Lynparza listed in its profile. Trailing revenue is $61.27B with a gross margin of 79.27% and an operating margin of 22.69%. Year-over-year revenue growth is 6.93%, though the latest quarter grew 3.02%.

Valuation in context

Forward P/E is 15.15×, in the 33rd percentile of GB healthcare companies over $10.00B, against a sector median of 17.45×, and close to the industry median of 15.05×. Trailing P/E is 25.31× and the free cash flow yield is 3.19%, below the 4.97% sector median. The dividend yield is 1.86%, in the 80th percentile.

Market and analyst signals

The consensus label is Buy from 19 analysts, with a rating score of 2.4. Of the ratings listed, 17 are Buy or Strong Buy, 15 Hold and 4 Sell. The relative strength rating is 49 and the stock is down 7.02% year to date, trailing many sector peers over three months.

Long-term investor

The multi-year record shows strong earnings recovery, high returns on capital and a growing dividend, supported by a high quality score. Growth has moderated recently and the balance sheet carries meaningful debt. Valuation looks undemanding against sector peers on a forward basis.

Growth durability

Annual revenue rose from $29.27B in fiscal 2020 to $58.74B in fiscal 2025, with a 5-year revenue CAGR of 14.95% and a 3-year CAGR of 9.90%. Diluted EPS rose from 4.41 in 2024 to 6.54 in 2025. Quarterly revenue has been flat at 15.29B for the last two quarters, and consensus sees next-year EPS growth of 11.29%.

Margins and returns

Gross margin is 79.27%, up 6.67% over the year, and operating margin is 22.69%, up 1.49%. ROIC of 14.08% matches the sector median, while ROE of 21.90% is in the 63rd percentile. Free cash flow was $8.67B in fiscal 2025, though free cash flow growth was only 3.03% year over year.

Balance sheet and cash returns

Total debt is 2.44T against equity of 3.81T, a debt-to-equity ratio of 0.64×, and interest coverage is 7.97×. No share repurchases are recorded in the annual data; dividends paid were $4.97B in fiscal 2025. The payout ratio is 47.50% and three-year dividend growth is 12.71%.

Valuation and insiders

Forward P/E of 15.15× sits below the 17.45× sector median, and the PEG ratio is 1.34×. Consensus EPS for the current and next fiscal years is 760.48 and 846.34. One insider purchase was recorded in the last 90 days, with a net value of 241.9K.

Swing trader

The shares have bounced from near 11,900 in early October to 12,822.00 and now trade above the 20-day and 50-day averages but below the 200-day. Momentum is improving, yet the trend remains unconfirmed with earnings three days away.

Trend and momentum

The price is 4.05% above the 20-day average (12,322.60), 4.84% above the 50-day (12,230.64) and 4.57% below the 200-day (13,436.52). RSI is 59.75 and MACD at 175.02 is above its signal line at 104.57. ADX of 21.69 suggests a modest trend. The stochastic reading of 86.43 is elevated.

Recent sessions and levels

The stock rose from 11,892 on Oct 8 to a 12,980 close on Oct 22, which equals the 20-day high, then eased to 12,822 on Oct 27 on lighter volume of 2.2M (0.77× relative volume). Heavier volume came on Oct 15 (5.4M) and Oct 20 (4.4M). The upper Bollinger band is 13,079.88; the 20-day low is 11,716.00.

Volatility and relative strength

The 14-day ATR is 284.50, or 2.22% of price. Thirty-day historical volatility is 25.02%. The relative strength rating is 49, in the 18th percentile of its sector peers, and six-month relative strength is -10.99%.

Event window

Earnings are confirmed for Oct 30, 2026. Past earnings-day moves ranged from 0.35% to 6.70%, with the latest at 2.13%. Analyst flow is positive, with Nordea upgrading on Oct 13, 2026. Short interest is not provided.

Analysis written October 28, 2026 from Qanvo data as of October 27, 2026. AI-generated, for information only; not investment advice.