Amphastar Pharmaceuticals, Inc. (AMPH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.61	$0.91	+49.2%	—	$183.9M	—
Q1 26	$0.71	$0.42	-40.8%	—	$171.2M	—
Q4 25	$0.92	$0.73	-20.7%	—	$183.1M	—
Q3 25	$0.83	$0.93	+12.0%	—	$191.8M	—
Q2 25	$0.74	$0.85	+14.9%	—	$174.4M	—
Q1 25	$0.69	$0.74	+7.2%	—	$170.5M	—
Q4 24	$0.94	$0.92	-2.1%	—	$186.5M	—
Q3 24	$0.98	$0.96	-2.0%	—	$191.2M	—
Q2 24	$0.75	$0.94	+25.3%	—	$182.4M	—
Q1 24	$0.79	$1.04	+31.6%	—	$171.8M	—
Q4 23	$0.91	$0.88	-3.3%	—	$178.1M	—
Q3 23	$0.69	$1.15	+66.7%	—	$180.6M	—
Q2 23	$0.56	$0.65	+16.1%	—	$145.7M	—
Q1 23	$0.48	$0.62	+29.2%	—	$140M	—
Q4 22	$0.41	$0.73	+78.0%	—	$135M	—
Q3 22	$0.39	$0.38	-2.6%	—	$120.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.1	—	—	$719.9M	—
FY24	—	$3.29	—	—	$732M	—
FY23	—	$2.85	—	—	$644.4M	—
FY22	—	$1.88	—	—	$499M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$255.2M	$240.2M	$294.7M	$322.4M	$349.8M	$437.8M	$499M	$644.4M	$732M	$719.9M
YoY change	+1.45%	-5.87%	+22.7%	+9.4%	+8.53%	+25.1%	+14%	+29.1%	+13.6%	-1.65%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	255.2M	240.2M	294.7M	322.4M	349.8M	437.8M	499M	644.4M	732M	719.9M
Cost of revenue	151M	149.7M	187.7M	190.4M	206.5M	238M	250.1M	293.3M	358.1M	363.8M
Gross profit	104.2M	90.5M	107M	131.9M	143.3M	199.7M	248.9M	351.1M	373.9M	356.1M
Gross margin	40.8%	37.7%	36.3%	40.9%	41%	45.6%	49.9%	54.5%	51.1%	49.5%
Research & development	41.5M	43.5M	57.6M	68.9M	67.2M	60.9M	74.8M	73.7M	73.9M	85.8M
Selling, general & administrative	47.3M	50.9M	58M	63.1M	65.2M	68.9M	66.6M	80.4M	94.5M	129.8M
Operating expenses	88.8M	94.4M	115.6M	132M	132.4M	129.9M	141.4M	154.1M	168.4M	215.7M
Operating income	15.4M	-3.9M	-8.6M	-39K	11M	69.9M	107.5M	197M	205.4M	140.4M
Operating margin	6.03%	-1.63%	-2.93%	-0.01%	3.13%	16%	21.5%	30.6%	28.1%	19.5%
Non-operating income, net	8K	5.6M	-1.5M	59.4M	-6.6M	14.5M	9.1M	-3.9M	4.1M	23K
Pretax income	14.6M	1.2M	-9.9M	60.2M	4.6M	84.1M	116M	171.4M	189.8M	123.6M
Income tax	4.8M	-2.4M	-3.3M	13.7M	3.5M	20.6M	23.5M	31.8M	29.7M	25.5M
Net income	9.8M	3.6M	-6.7M	46.5M	1.1M	63.3M	91.4M	137.5M	159.5M	98.1M
Net margin	3.85%	1.52%	-2.26%	14.4%	0.31%	14.5%	18.3%	21.3%	21.8%	13.6%
EBITDA	30.3M	15.2M	6.8M	81.5M	30.2M	111.6M	146.2M	240.3M	277.3M	212.3M
EPS	0.23	0.1	-0.12	1.04	0.03	1.3	1.88	2.85	3.29	2.1
Diluted EPS	0.22	0.09	-0.12	0.98	0.03	1.25	1.74	2.6	3.06	2.03

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	180.6M	178.1M	171.8M	182.4M	191.2M	186.5M	170.5M	174.4M	191.8M	183.1M	171.2M	183.9M
Cost of revenue	72.2M	82M	81.7M	87.2M	89.3M	99.9M	85.3M	87.9M	93.2M	97.4M	100.8M	90.4M
Gross profit	108.4M	96.1M	90.1M	95.2M	101.9M	86.6M	85.3M	86.5M	98.6M	85.7M	70.3M	93.5M
Gross margin	60%	54%	52.4%	52.2%	53.3%	46.5%	50%	49.6%	51.4%	46.8%	41.1%	50.8%
Research & development	16.7M	20.4M	17M	17.7M	21.1M	18.1M	20.1M	20.1M	22.4M	23.3M	26.7M	22.2M
Selling, general & administrative	19.1M	21.7M	25M	22.3M	23.8M	23.4M	27.9M	24.2M	51M	26.8M	30M	31.6M
Operating expenses	35.7M	42.2M	42.1M	39.9M	44.9M	41.5M	48M	44.3M	73.3M	50.1M	56.7M	53.7M
Operating income	72.7M	54M	48M	55.2M	57M	45.1M	37.3M	42.2M	25.3M	35.6M	13.6M	39.7M
Operating margin	40.3%	30.3%	27.9%	30.3%	29.8%	24.2%	21.9%	24.2%	13.2%	19.4%	7.96%	21.6%
Non-operating income, net	3.5M	-5.5M	5.9M	298K	-5.1M	3M	-2.2M	1.5M	231K	515K	575K	3.2M
Pretax income	63.6M	41.3M	47.9M	50.2M	47.7M	44M	30.9M	39.3M	21.5M	31.9M	10.1M	38.5M
Income tax	14M	4.7M	4.1M	12.3M	7.3M	6M	5.6M	8.3M	4.2M	7.5M	3.6M	8.2M
Net income	49.2M	36.2M	43.2M	37.9M	40.4M	38M	25.3M	31M	17.4M	24.4M	6.4M	30.3M
Net margin	27.3%	20.3%	25.1%	20.8%	21.1%	20.4%	14.8%	17.8%	9.04%	13.3%	3.75%	16.5%
EBITDA	90.9M	64.6M	70.5M	73M	68.8M	65.1M	52.4M	61.9M	43.6M	54.5M	33.1M	61.7M
EPS	1.01	0.75	0.9	0.77	0.83	0.79	0.53	0.66	0.38	0.53	0.14	0.69
Diluted EPS	0.91	0.68	0.81	0.73	0.78	0.74	0.51	0.64	0.37	0.51	0.14	0.67

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	835.8M	887.1M	923.3M	906.3M	945.9M	1.1B	1.4B	3B	1.8B	1.3B	1.2B
Enterprise value	800.6M	866M	884.3M	887.5M	907.6M	1.1B	1.3B	3.4B	2.2B	1.6B	1.6B
Shares outstanding	45.4M	46.1M	46.4M	47M	47M	47.8M	48.6M	48.3M	48.4M	46.7M	46.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	85.1	243.2	—	19.5	862.3	17.6	14.9	21.7	11.3	12.8	15.5
P/S	3.28	3.69	3.13	2.81	2.7	2.54	2.73	4.63	2.46	1.74	1.6
P/B	2.54	2.66	2.53	2.12	2.11	2.5	2.57	4.67	2.46	1.59	1.52
EV/EBITDA	26.4	56.8	129.4	10.9	30.1	9.69	8.81	13.9	8.03	7.65	8.04
EV/Sales	3.14	3.61	3	2.75	2.59	2.47	2.58	5.2	3.04	2.26	2.14
Earnings yield	1.17%	0.41%	—	5.13%	0.12%	5.69%	6.72%	4.61%	8.87%	7.84%	6.46%
FCF yield	2.06%	0.46%	-0.93%	0.02%	2.47%	6.34%	4.79%	4.87%	9.58%	9.51%	19.7%
PEG	—	—	—	—	—	—	—	—	—	—	3.4

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	40.8%	37.7%	36.3%	40.9%	41%	45.6%	49.9%	54.5%	51.1%	49.5%	50.8%
Operating margin	6.03%	-1.63%	-2.93%	-0.01%	3.13%	16%	21.5%	30.6%	28.1%	19.5%	21.6%
Net margin	3.85%	1.52%	-2.26%	14.4%	0.31%	14.5%	18.3%	21.3%	21.8%	13.6%	10.8%
ROE	2.98%	1.09%	-1.83%	10.9%	0.24%	14.2%	17.3%	21.5%	21.8%	12.4%	10.3%
ROA	2.3%	0.81%	-1.3%	7.92%	0.17%	9.43%	12.3%	9.09%	10.1%	6.02%	5.11%
ROIC	3.51%	-1.25%	-2.65%	-0.01%	0.63%	12.8%	18.8%	15.9%	14.9%	9.59%	7.54%
Return on tangible assets	3%	1.01%	-1.55%	9.22%	0.2%	10.7%	13.7%	48%	40.3%	19.7%	17.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.04	2.79	2.06	2.84	2.49	3.06	3.99	2.17	3.07	4.02	2.4
Quick ratio	1.72	1.85	1.41	1.61	1.63	2.17	2.9	1.7	2.19	2.9	1.71
Debt / equity	0.11	0.14	0.14	0.16	0.15	0.23	0.19	0.98	0.89	0.83	0.9
Debt / assets	0.09	0.1	0.1	0.11	0.11	0.16	0.14	0.41	0.41	0.4	0.39
Net debt / EBITDA	-1.16	-1.38	-5.7	-0.23	-1.27	-0.29	-0.5	1.53	1.55	1.76	2.06
Interest coverage	15.3	2.51	-39.8	507.1	13.4	96.1	63.9	7.31	7.25	5.85	4.91
Effective tax rate	32.9%	0%	0%	22.8%	76.3%	24.5%	20.2%	18.6%	15.6%	20.7%	23%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.62	5.21	6.35	6.86	7.44	9.16	10.3	13.4	15.1	15.4	16.1
EPS (basic)	0.23	0.1	-0.12	1.04	0.03	1.3	1.88	2.85	3.29	2.1	2.1
EPS (diluted)	0.22	0.09	-0.12	0.98	0.03	1.25	1.74	2.6	3.06	2.03	1.77
Book value per share	7.26	7.24	7.85	9.1	9.54	9.33	10.9	13.2	15.1	16.9	18.1
FCF per share	0.38	0.09	-0.19	0	0.5	1.48	1.34	3.01	3.56	2.55	3.46
Cash per share	1.61	1.48	1.92	1.82	2.25	2.86	3.62	5.32	4.58	6.05	6.82
Capex per share	0.47	0.76	1	0.88	0.72	0.57	0.49	0.79	0.85	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	8.38%	14.6%	15.8%	12.9%	9.68%	6.27%	4.73%	5.92%	5.61%	—	—
Capex / operating cash flow	54.3%	101.7%	118.7%	92.5%	57.8%	25.4%	25.7%	21.7%	18.1%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$180.6M	$178.1M	$171.8M	$182.4M	$191.2M	$186.5M	$170.5M	$174.4M	$191.8M	$183.1M	$171.2M	$183.9M
YoY change	+50.3%	+31.9%	+22.7%	+25.2%	+5.9%	+4.73%	-0.76%	-4.38%	+0.33%	-1.83%	+0.38%	+5.44%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	72.9M	68.2M	89.2M	85.4M	105.6M	136.7M	175.8M	256.8M	221.6M	282.8M
Receivables	26.8M	36M	52.2M	45.4M	66M	78.8M	88.8M	114.9M	136.3M	143.6M
Inventory	79.8M	63.6M	69.3M	110.5M	96.8M	92.8M	103.6M	105.8M	153.7M	176.9M
Total current assets	184.1M	187.8M	220.3M	255.2M	279.7M	318.1M	378.3M	489.6M	534.1M	636M
Property, plant & equipment	67.7M	91.4M	114.1M	135.6M	156.4M	140.9M	133.8M	146.9M	175.2M	157M
Goodwill & intangibles	100.6M	90.3M	84.5M	82.3M	81.2M	77.7M	74.6M	1.2B	1.2B	1.1B
Total assets	427.7M	451.1M	513.6M	587M	631.2M	671.5M	742M	1.5B	1.6B	1.6B
Accounts payable	19.9M	16.6M	31.3M	25.1M	24.4M	22.2M	20.5M	25.4M	30.5M	32.6M
Short-term debt	5.4M	6.3M	18.2M	10.9M	15.6M	5.2M	6M	4.3M	7M	9.6M
Total current liabilities	60.6M	67.2M	106.8M	90M	112.2M	103.8M	94.9M	225.4M	173.8M	158.2M
Long-term debt	32.4M	40.8M	32M	55.7M	51.6M	99.5M	96.5M	619.3M	643.5M	646.4M
Total liabilities	98.5M	117.3M	149.2M	159.4M	182.5M	226M	213.3M	873.5M	845.2M	840.5M
Shareholders' equity	329.3M	333.7M	364.4M	427.5M	448.7M	445.5M	528.7M	639.4M	732.3M	788.8M
Total debt	37.7M	47.2M	50.2M	66.6M	67.3M	104.7M	102.6M	623.6M	650.5M	656M
Net debt	-34.6M	-18.4M	-36.1M	-7.1M	-25.4M	-21.7M	-53.5M	479.3M	498.9M	485.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	276.2M	282.8M	292M	290.1M
Receivables	—	—	—	—	—	—	—	—	146.8M	143.6M	147.8M	144.9M
Inventory	—	—	—	—	—	—	—	—	185.9M	176.9M	170.2M	179.9M
Total current assets	—	—	—	—	—	—	—	—	639.5M	636M	633.7M	631M
Property, plant & equipment	—	—	—	—	—	—	—	—	159.8M	157M	182.6M	192.8M
Goodwill & intangibles	—	—	—	—	—	—	—	—	1.1B	1.1B	1.1B	1.3B
Total assets	—	—	—	—	—	—	—	—	1.7B	1.6B	1.6B	1.7B
Accounts payable	—	—	—	—	—	—	—	—	40.5M	32.6M	35.5M	28.9M
Short-term debt	—	—	—	—	—	—	—	—	8.8M	9.6M	11.4M	11.3M
Total current liabilities	—	—	—	—	—	—	—	—	205.2M	158.2M	164.5M	263.2M
Long-term debt	—	—	—	—	—	—	—	—	648M	646.4M	675M	677M
Total liabilities	—	—	—	—	—	—	—	—	889.5M	840.5M	874.8M	975.6M
Shareholders' equity	—	—	—	—	—	—	—	—	776.7M	788.8M	773.4M	768.2M
Total debt	—	—	—	—	—	—	—	—	656.8M	656M	686.4M	688.3M
Net debt	—	—	—	—	—	—	—	—	440.5M	485.8M	515.4M	464.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	9.8M	3.6M	-6.7M	46.5M	1.1M	63.3M	91.4M	137.5M	159.5M	98.1M
Depreciation & amortization	14.7M	15.8M	16.5M	21.1M	25.2M	26.5M	28.3M	41.8M	57.2M	63.2M
Stock-based compensation	15.1M	17.1M	16.7M	17.3M	20.5M	18.7M	17.9M	20.2M	24.4M	27.3M
Change in working capital	2.6M	-6.4M	14.6M	-47.6M	10.7M	-4.9M	-30.3M	-21.5M	-3.8M	-62.4M
Operating cash flow	39.4M	34.5M	39.2M	44.9M	58.6M	108.1M	91.9M	175.7M	226.3M	156.1M
Capital expenditure	-21.4M	-35.1M	-46.6M	-41.6M	-33.9M	-27.5M	-23.6M	-38.2M	-41M	—
Investing cash flow	-39.5M	-38.9M	-46.6M	-50.5M	-36.4M	-28.7M	-32.8M	-649.1M	-124.9M	-33.2M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-9.9M	-30.7M	-25M	-22.3M	-24.4M	-28.9M	-39.9M	-58.1M	-85.5M	-75.6M
Financing cash flow	-13.5M	-21.5M	54.1M	-7.6M	-25.4M	-54.1M	-42.1M	443.1M	-76.1M	-70.3M
Net change in cash	-13.6M	-25.8M	46.8M	-13.2M	-3.3M	25.3M	17M	-30.3M	25.3M	52.6M
Free cash flow	17.2M	4.1M	-8.6M	207K	23.4M	70.5M	65.1M	145.3M	172.3M	119M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	49.2M	36.2M	43.2M	37.9M	40.4M	38M	25.3M	31M	17.4M	24.4M	6.4M	30.3M
Depreciation & amortization	13.6M	13.8M	14M	14.1M	14.4M	14.7M	15.2M	16.2M	15.8M	16M	16.5M	16.5M
Stock-based compensation	4.6M	4.6M	7.4M	5.8M	5.6M	5.6M	8.4M	6.4M	6.3M	6.2M	9.3M	7.1M
Change in working capital	-13.1M	-20.5M	-30.2M	-5.5M	-21.2M	-10.5M	-33.5M	-9.1M	-5.4M	-9.9M	8M	-2M
Operating cash flow	59.6M	37M	36.5M	54.8M	40M	48.5M	16.2M	35.6M	52.6M	32.9M	47.8M	51.3M
Capital expenditure	-10.2M	-9.4M	-8.8M	-6M	-13.8M	-12.4M	-10.7M	—	—	—	—	—
Investing cash flow	-31.2M	-103M	15.2M	60.7M	-34.6M	-35.7M	10.5M	14.5M	-14.3M	-52.3M	-7.2M	55.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-50M	0	0	-8.5M	-35M	-42M	-11M	-39.2M	-4.8M	-20.5M	-29.5M	-45.2M
Financing cash flow	84.5M	-50.6M	3.7M	-16.5M	-39.6M	-23.7M	-9.8M	-39.5M	-4.7M	-20.4M	-29.5M	-45.7M
Net change in cash	112.9M	-116.7M	55.4M	99M	-34.3M	-10.8M	16.8M	10.6M	33.6M	-39.8M	11.1M	60.8M
Free cash flow	54.1M	14.4M	46.5M	63.1M	46.2M	16.6M	24.4M	22.8M	47.2M	24.6M	38.3M	42.7M

Amphastar Pharmaceuticals, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement