Amneal Pharmaceuticals, Inc. (AMRX) 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	$0.23	$0.3	+30.4%	—	$796.2M	—
Q1 26	$0.17	$0.27	+58.8%	—	$722.5M	—
Q3 25	$0.14	$0.17	+21.4%	—	$784.5M	—
Q2 25	$0.17	$0.25	+47.1%	—	$724.5M	—
Q1 25	$0.15	$0.21	+40.0%	—	$695.4M	—
Q4 24	$0.15	$0.12	-20.0%	—	$730.5M	—
Q3 24	$0.14	$0.16	+14.3%	—	$702.5M	—
Q2 24	$0.14	$0.16	+14.3%	—	$701.8M	—
Q1 24	$0.09	$0.14	+55.6%	—	$659.2M	—
Q4 23	$0.09	$0.14	+55.6%	—	$617M	—
Q3 23	$0.13	$0.19	+46.2%	—	$620M	—
Q2 23	$0.1	$0.19	+90.0%	—	$599M	—
Q1 23	$0.1	$0.12	+20.0%	—	$557.5M	—
Q4 22	$0.21	$0.23	+9.5%	—	$609.8M	—
Q3 22	$0.18	$0.14	-22.2%	—	$545.6M	—
Q2 22	$0.19	$0.19	0.0%	—	$559.4M	—

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	—	$0.23	—	—	$3B	—
FY24	—	-$0.38	—	—	$2.8B	—
FY23	—	-$0.48	—	—	$2.4B	—
FY22	—	-$0.86	—	—	$2.2B

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	$1B	$1B	$1.7B	$1.6B	$2B	$2.1B	$2.2B	$2.4B	$2.8B	$3B
YoY change	—	+1.52%	+60.9%	-2.2%	+22.5%	+5.08%	+5.67%	+8.2%	+16.7%	+8.05%

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	1B	1B	1.7B	1.6B	2B	2.1B	2.2B	2.4B	2.8B	3B
Cost of revenue	420.8M	507.5M	946.6M	1.3B	1.4B	1.3B	1.4B	1.6B	1.8B	1.9B
Gross profit	597.5M	526.2M	716.4M	353M	628.4M	769M	784.7M	820.6M	1B	1.1B
Gross margin	58.7%	50.9%	43.1%	21.7%	31.5%	36.7%	35.5%	34.3%	36.5%	36.9%
Research & development	204.7M	191.9M	210.5M	202.3M	190.6M	209.6M	200M	167.8M	196.6M	193.8M
Selling, general & administrative	118.8M	109M	227.8M	289.6M	326.7M	365.5M	399.7M	429.7M	476.4M	526.8M
Operating expenses	323.5M	301M	438.3M	491.9M	517.3M	575.1M	595.8M	596.3M	673M	715.4M
Operating income	274M	225.2M	278.1M	-138.9M	111.1M	193.9M	188.9M	224.3M	347.4M	397.9M
Operating margin	26.9%	21.8%	16.7%	-8.54%	5.57%	9.26%	8.54%	9.37%	12.4%	13.2%
Non-operating income, net	-3.8M	17.2M	-337.3M	86.9M	-863K	-26.2M	-278.4M	-13.1M	-143.9M	13.8M
Pretax income	214.8M	171.3M	-202.7M	-220.2M	-35.8M	31.4M	-248.1M	-40.3M	-55M	139.2M
Income tax	5.4M	2M	-1.4M	383.3M	-104.4M	11.2M	6.7M	8.5M	18.9M	11.3M
Net income	209.4M	169.3M	-201.3M	-603.6M	68.6M	20.2M	-254.8M	-48.7M	-73.9M	127.9M
Net margin	20.6%	16.4%	-12.1%	-37.1%	3.44%	0.96%	-11.5%	-2.04%	-2.64%	4.24%
EBITDA	306.3M	271.1M	416.7M	69.8M	349.1M	442.6M	446.6M	418M	595.4M	606.6M
EPS	0	0	-0.16	-2.74	0.62	0.07	-0.86	-0.48	-0.38	0.23
Diluted EPS	0	0	-0.16	-2.74	0.61	0.07	-0.86	-0.48	-0.38	0.22

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	620M	617M	659.2M	701.8M	702.5M	730.5M	695.4M	724.5M	784.5M	814.3M	722.5M	796.2M
Cost of revenue	387.5M	427.2M	421.1M	451.8M	432.9M	467.6M	439.5M	438.3M	510.5M	517.1M	402.4M	461.7M
Gross profit	232.5M	189.8M	238.1M	249.9M	269.6M	262.9M	255.9M	286.3M	274M	297.2M	320.1M	334.5M
Gross margin	37.5%	30.8%	36.1%	35.6%	38.4%	36%	36.8%	39.5%	34.9%	36.5%	44.3%	42%
Research & development	42.3M	46.6M	40.3M	37.1M	63.1M	56.1M	41.8M	50M	65.8M	36.2M	39.9M	41.1M
Selling, general & administrative	113M	109M	112.6M	116.5M	118.7M	128.7M	118.3M	124.3M	137.8M	146.5M	138.9M	148.7M
Operating expenses	155.3M	155.6M	152.9M	153.6M	181.8M	184.8M	155M	174.2M	203.5M	182.7M	171.8M	188.5M
Operating income	76.5M	34.3M	83.2M	96.4M	87.8M	78.1M	100.9M	112M	70.5M	114.5M	148.3M	146M
Operating margin	12.3%	5.55%	12.6%	13.7%	12.5%	10.7%	14.5%	15.5%	8.98%	14.1%	20.5%	18.3%
Non-operating income, net	-2.6M	-17.4M	-93.1M	-10.3M	-6.9M	-31.7M	-6.5M	4.8M	18.5M	-3M	-11.2M	-19.9M
Pretax income	23M	-83.5M	-75.5M	20.4M	15.4M	-15.3M	37.5M	51.7M	-5.2M	55.2M	80.2M	71M
Income tax	-2.1M	9.9M	6.2M	3.6M	3.7M	5.4M	12.9M	16.1M	-23.4M	5.7M	2.2M	1.4M
Net income	25M	-93.3M	-81.7M	16.8M	11.8M	-20.7M	24.6M	35.6M	18.1M	49.6M	78M	69.6M
Net margin	4.04%	-15.1%	-12.4%	2.39%	1.67%	-2.84%	3.54%	4.92%	2.31%	6.09%	10.8%	8.74%
EBITDA	135.6M	50.8M	142.8M	156.3M	147.9M	146.4M	161.6M	173.7M	94.4M	176.9M	188.7M	194.4M
EPS	0.06	-0.4	-0.3	0.02	-0	-0.1	0.04	0.07	0.01	0.11	0.2	0.18
Diluted EPS	0.06	-0.4	-0.3	0.02	-0	-0.1	0.04	0.07	0.01	0.11	0.19	0.18

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	—	—	—	636.8M	—	713.3M	300.4M	—	—	3.9B	7.1B
Enterprise value	—	—	—	3.3B	—	3.3B	3.1B	—	—	6.4B	9.1B
Shares outstanding	114.9M	114.9M	127.3M	132.1M	147.4M	148.9M	150.9M	176.1M	309M	313.4M	313.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	35.4	—	—	—	30.9	42
P/S	—	—	—	0.39	—	0.34	0.14	—	—	1.31	2.25
P/B	—	—	—	1.84	—	1.94	1.63	—	—	-55.4	195.6
EV/EBITDA	—	—	—	46.6	—	7.55	6.98	—	—	10.5	13.1
EV/Sales	—	—	—	2	—	1.6	1.41	—	—	2.11	2.9
Earnings yield	—	—	—	—	—	2.83%	—	—	—	3.24%	2.38%
FCF yield	—	—	—	-15%	—	26.5%	-8.49%	—	—	5.71%	-1.62%
PEG	—	—	—	—	—	—	—	—	—	—	0.27

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	58.7%	50.9%	43.1%	21.7%	31.5%	36.7%	35.5%	34.3%	36.5%	36.9%	42%
Operating margin	26.9%	21.8%	16.7%	-8.54%	5.57%	9.26%	8.54%	9.37%	12.4%	13.2%	18.3%
Net margin	20.6%	16.4%	-12.1%	-37.1%	3.44%	0.96%	-11.5%	-2.04%	-2.64%	4.24%	5.05%
ROE	—	-45.1%	-22.5%	-174%	19.9%	5.5%	-138.5%	-243.5%	67.5%	-179.4%	613%
ROA	—	12.6%	-4.62%	-16.5%	1.71%	0.51%	-6.71%	-1.4%	-2.11%	3.48%	8.6%
ROIC	—	21.5%	8.24%	-4.68%	3.77%	4.16%	6.29%	8.37%	14.6%	15.7%	17.8%
Return on tangible assets	—	14.1%	-105.8%	-983.4%	19.5%	4.8%	-62.2%	-9.85%	-8.78%	9.4%	15.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	2.6	2.32	2.2	2.29	2.24	1.88	1.63	1.41	2.17	2.21
Quick ratio	—	1.64	1.5	1.51	1.57	1.52	1.17	0.94	0.86	1.48	1.44
Debt / equity	—	-3.95	3	7.99	8.54	7.84	15.5	137.5	-23.7	-37.7	23.9
Debt / assets	—	1.11	0.62	0.76	0.74	0.73	0.75	0.79	0.74	0.73	0.74
Net debt / EBITDA	—	5.2	5.95	37.5	7.46	5.94	6.31	6.36	4.17	3.97	4.07
Interest coverage	4.89	3.41	-0.41	-0.31	0.75	1.23	-0.57	0.81	0.79	1.58	1.88
Effective tax rate	2.51%	1.17%	0%	0%	0%	35.7%	0%	0%	0%	8.1%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.86	9	13.1	12.3	13.5	14.1	14.7	13.6	9.04	9.63	9.87
EPS (basic)	0	0	-0.16	-2.74	0.62	0.07	-0.86	-0.48	-0.38	0.23	0.23
EPS (diluted)	0	0	-0.16	-2.74	0.61	0.07	-0.86	-0.48	-0.38	0.22	0.48
Book value per share	—	-3.27	7.04	2.63	2.34	2.46	1.22	0.11	-0.35	-0.23	0.1
FCF per share	-0.08	1.04	1.2	-0.72	2.12	1.27	-0.17	1.57	0.71	0.72	-0.04
Cash per share	—	0.65	1.68	1.14	2.32	1.66	0.17	0.52	0.36	0.9	0.41
Capex per share	1.07	0.83	0.45	0.36	0.42	0.34	0.32	0.27	0.2	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	12.1%	9.17%	3.47%	2.9%	3.1%	2.43%	2.21%	1.96%	2.16%	—	—
Capex / operating cash flow	140.6%	38.4%	47%	-15.9%	24.9%	27.1%	-131.1%	29.8%	44.1%	—	—
Payout ratio	95.8%	221.6%	-90.9%	0%	—	—	—	—	—	—	0%
Dividend yield	—	—	—	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	$620M	$617M	$659.2M	$701.8M	$702.5M	$730.5M	$695.4M	$724.5M	$784.5M	$814.3M	$722.5M	$796.2M
YoY change	+13.7%	+1.18%	+18.2%	+17.1%	+13.3%	+18.4%	+5.5%	+3.24%	+11.7%	+11.5%	+3.9%	+9.89%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	74.2M	213.4M	151.2M	341.4M	247.8M	26M	91.5M	110.6M	282M
Receivables	351.4M	481.5M	604.4M	638.9M	662.6M	741.8M	613.7M	775.7M	895.1M
Inventory	284M	457.2M	381.1M	490.6M	489.4M	530.7M	581.4M	612.5M	606.3M
Total current assets	771.9M	1.3B	1.2B	1.6B	1.5B	1.4B	1.4B	1.6B	1.9B
Property, plant & equipment	258.9M	311M	417.2M	394.6M	408M	363.7M	322.3M	299M	315.7M
Goodwill & intangibles	142.1M	4.2B	3.6B	3.7B	3.5B	3.4B	3B	2.7B	2.3B
Total assets	1.3B	4.4B	3.7B	4B	3.9B	3.8B	3.5B	3.5B	3.7B
Accounts payable	70M	114.8M	103M	153.1M	131.1M	166M	143.6M	258.7M	254.7M
Short-term debt	89.5M	21.7M	37M	57.5M	46M	104.6M	227.6M	340.3M	21.6M
Total current liabilities	296.9M	553.9M	550.4M	676.9M	677.2M	752.8M	846.6M	1.1B	881.6M
Long-term debt	1.4B	2.7B	2.7B	2.9B	2.8B	2.7B	2.5B	2.3B	2.7B
Total liabilities	1.7B	3.5B	3.3B	3.7B	3.6B	3.6B	3.5B	3.6B	3.7B
Shareholders' equity	-375.6M	896.4M	346.8M	344.9M	367M	184M	20M	-109.5M	-71.3M
Total debt	1.5B	2.7B	2.8B	2.9B	2.9B	2.8B	2.8B	2.6B	2.7B
Net debt	1.4B	2.5B	2.6B	2.6B	2.6B	2.8B	2.7B	2.5B	2.4B

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	86.9M	91.5M	46.5M	43.8M	74M	110.6M	59.2M	71.5M	201.2M	282M	197.7M	127.6M
Receivables	690.9M	613.7M	669M	769.9M	748.1M	775.7M	754.2M	807.6M	885.2M	895.1M	850.9M	1B
Inventory	576.5M	581.4M	570.7M	575.6M	596.4M	612.5M	601.4M	609M	614.5M	606.3M	641.6M	678M
Total current assets	1.5B	1.4B	1.4B	1.5B	1.5B	1.6B	1.5B	1.6B	1.8B	1.9B	1.8B	1.9B
Property, plant & equipment	560.8M	322.3M	544.8M	528.9M	532.9M	299M	522.7M	546.3M	538.1M	315.7M	558.8M	609.9M
Goodwill & intangibles	3.2B	3B	2.9B	2.8B	2.8B	2.7B	2.6B	2.5B	2.4B	2.3B	2.3B	2.4B
Total assets	3.7B	3.5B	3.5B	3.5B	3.5B	3.5B	3.4B	3.4B	3.6B	3.7B	3.5B	3.8B
Accounts payable	177.4M	143.6M	175.3M	199.6M	235M	258.7M	192.5M	205.8M	266.4M	254.7M	227.7M	244.2M
Short-term debt	122.5M	227.6M	228.7M	451.6M	381M	340.3M	337.5M	335.4M	21.5M	21.6M	21.5M	121.4M
Total current liabilities	760.6M	846.6M	834.4M	1.1B	1.1B	1.1B	1.1B	1.1B	862.1M	881.6M	728M	883.2M
Long-term debt	2.7B	2.5B	2.5B	2.3B	2.3B	2.3B	2.2B	2.2B	2.7B	2.7B	2.7B	2.7B
Total liabilities	3.5B	3.5B	3.5B	3.5B	3.5B	3.6B	3.4B	3.5B	3.7B	3.7B	3.6B	3.7B
Shareholders' equity	191.4M	20M	-16.6M	-4.1M	-33.7M	-109.5M	-59.4M	-112.5M	-110M	-71.3M	-46M	33M
Total debt	2.8B	2.8B	2.7B	2.7B	2.6B	2.6B	2.6B	2.6B	2.7B	2.7B	2.7B	2.8B
Net debt	2.7B	2.7B	2.7B	2.7B	2.6B	2.5B	2.5B	2.5B	2.5B	2.4B	2.5B	2.7B

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	209.4M	169.3M	-201.3M	-603.6M	68.6M	20.2M	-254.8M	-48.7M	-73.9M	127.9M
Depreciation & amortization	33M	45.9M	137.4M	207.2M	235.4M	233.4M	240.2M	229.4M	236.2M	223.6M
Stock-based compensation	0	0	167.6M	21.7M	20.8M	28.4M	31.8M	26.8M	27.8M	32M
Change in working capital	-158.5M	16M	4.4M	-164.3M	-96.3M	-109.3M	-71.9M	-94.8M	-57.5M	-186.3M
Operating cash flow	87.3M	246.6M	122.7M	-297.5M	248.4M	187.9M	-37.2M	157.1M	136.9M	340M
Capital expenditure	-122.8M	-94.8M	-57.7M	-47.2M	-61.8M	-50.9M	-48.8M	-46.8M	-60.3M	—
Investing cash flow	-122.8M	-79.1M	-382.4M	30.7M	-313.2M	-192.5M	-132.5M	-46.8M	-48.3M	0
Dividends paid	-200.6M	-375.3M	-183M	0	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-19.5M	-95M	191.8M	-47.2M	131.5M	-139M	-107.3M	-213M	-212.9M	-2.8B
Net change in cash	-54.9M	72.5M	-67.8M	-314.1M	66.7M	-143.5M	-277M	-102.7M	-124.3M	-2.5B
Free cash flow	-9.5M	119.9M	153.1M	-95.7M	312.8M	189.2M	-25.5M	276.4M	220.1M	225.6M

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	25M	-93.3M	-81.7M	16.8M	11.8M	-20.7M	24.6M	35.6M	18.1M	49.6M	78M	69.6M
Depreciation & amortization	57.2M	56.9M	55.5M	55.6M	59M	66.1M	60.2M	60.1M	54.1M	49.2M	43.2M	47.8M
Stock-based compensation	6.7M	6M	6.7M	6.7M	7.1M	7.2M	7.3M	8.3M	8.2M	8.2M	8.8M	10.4M
Change in working capital	-28.9M	35M	-5.8M	-64.1M	25.7M	-13.4M	-104.7M	-32M	-38.4M	-11.1M	-135.6M	-172.2M
Operating cash flow	68.5M	36.5M	-23.6M	13.1M	105.4M	42M	-11M	83.8M	118.5M	130.3M	-26.7M	-21.2M
Capital expenditure	-12.5M	-11.8M	-10.1M	-10.7M	-17.1M	-22.5M	-13.6M	—	—	—	—	—
Investing cash flow	-12.5M	-11.8M	-10.1M	-10.7M	-17.1M	-15.5M	-13.6M	—	0	0	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-87M	-318.6M	-23.2M	-35.4M	-93M	-61.4M	-39.2M	-42.4M	58.8M	-2.8B	-59.1M	79.3M
Net change in cash	-30.9M	-293.9M	-56.8M	-33M	-4.6M	-34.9M	-63.9M	41.4M	177.2M	-2.7B	-85.8M	58.1M
Free cash flow	67.9M	104.1M	-24.2M	28.2M	121.1M	95M	-10.9M	56.4M	96M	84.1M	-48.5M	-144M

Amneal 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