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Amphastar Pharma Financials

AMPH
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Amphastar Pharma (AMPH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 61 / 100
Financial Profile 61/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
66

Amphastar Pharma has an operating margin of 19.5%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is down from 28.1% the prior year.

Growth
31

Amphastar Pharma's revenue declined 1.7% year-over-year, from $732.0M to $719.9M. This contraction results in a growth score of 31/100.

Leverage
86

Amphastar Pharma carries a low D/E ratio of 0.79, meaning only $0.79 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
79

With a current ratio of 4.02, Amphastar Pharma holds $4.02 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 79/100.

Cash Flow
67

Amphastar Pharma converts 16.8% of revenue into free cash flow ($121.2M). This strong cash generation earns a score of 67/100.

Returns
39

Amphastar Pharma's ROE of 12.4% shows moderate profitability relative to equity, earning a score of 39/100. This is down from 21.8% the prior year.

Altman Z-Score Grey Zone
2.31

Amphastar Pharma scores 2.31, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
6/9

Amphastar Pharma passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.59x

For every $1 of reported earnings, Amphastar Pharma generates $1.59 in operating cash flow ($156.1M OCF vs $98.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
5.5x

Amphastar Pharma earns $5.5 in operating income for every $1 of interest expense ($140.4M vs $25.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$719.9M
YoY-1.7%
5Y CAGR+15.5%
10Y CAGR+11.1%

Amphastar Pharma generated $719.9M in revenue in fiscal year 2025. This represents a decrease of 1.7% from the prior year.

EBITDA
$197.3M
YoY-23.7%
5Y CAGR+58.1%
10Y CAGR+41.0%

Amphastar Pharma's EBITDA was $197.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.7% from the prior year.

Net Income
$98.1M
YoY-38.5%
5Y CAGR+133.8%

Amphastar Pharma reported $98.1M in net income in fiscal year 2025. This represents a decrease of 38.5% from the prior year.

EPS (Diluted)
$2.03
YoY-33.7%
5Y CAGR+132.3%

Amphastar Pharma earned $2.03 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 33.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$121.2M
YoY-29.7%
5Y CAGR+38.9%

Amphastar Pharma generated $121.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 29.7% from the prior year.

Cash & Debt
$170.2M
YoY+12.2%
5Y CAGR+12.9%
10Y CAGR+9.9%

Amphastar Pharma held $170.2M in cash against $619.7M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
46M
YoY-4.1%
5Y CAGR-0.8%
10Y CAGR+0.1%

Amphastar Pharma had 46M shares outstanding in fiscal year 2025. This represents a decrease of 4.1% from the prior year.

Margins & Returns

Gross Margin
49.5%
YoY-1.6pp
5Y CAGR+8.5pp
10Y CAGR+18.7pp

Amphastar Pharma's gross margin was 49.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.6 percentage points from the prior year.

Operating Margin
19.5%
YoY-8.6pp
5Y CAGR+16.4pp
10Y CAGR+22.2pp

Amphastar Pharma's operating margin was 19.5% in fiscal year 2025, reflecting core business profitability. This is down 8.6 percentage points from the prior year.

Net Margin
13.6%
YoY-8.2pp
5Y CAGR+13.2pp
10Y CAGR+14.7pp

Amphastar Pharma's net profit margin was 13.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.2 percentage points from the prior year.

Return on Equity
12.4%
YoY-9.3pp
5Y CAGR+12.1pp
10Y CAGR+13.4pp

Amphastar Pharma's ROE was 12.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.3 percentage points from the prior year.

Capital Allocation

R&D Spending
$85.8M
YoY+16.1%
5Y CAGR+5.0%
10Y CAGR+8.7%

Amphastar Pharma invested $85.8M in research and development in fiscal year 2025. This represents an increase of 16.1% from the prior year.

Share Buybacks
$75.6M
YoY-11.6%
5Y CAGR+25.3%
10Y CAGR+22.6%

Amphastar Pharma spent $75.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 11.6% from the prior year.

Capital Expenditures
$34.9M
YoY-15.0%
5Y CAGR+0.6%
10Y CAGR+8.1%

Amphastar Pharma invested $34.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 15.0% from the prior year.

AMPH Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $183.1M-4.6% $191.8M+10.0% $174.4M+2.3% $170.5M-8.6% $186.5M-2.5% $191.2M+4.8% $182.4M+6.1% $171.8M
Cost of Revenue $97.4M+4.6% $93.2M+6.0% $87.9M+3.1% $85.3M-14.6% $99.9M+11.9% $89.3M+2.3% $87.2M+6.7% $81.7M
Gross Profit $85.7M-13.2% $98.6M+14.1% $86.5M+1.5% $85.3M-1.6% $86.6M-15.0% $101.9M+7.1% $95.2M+5.6% $90.1M
R&D Expenses $23.3M+4.3% $22.4M+11.3% $20.1M-0.1% $20.1M+10.8% $18.1M-13.9% $21.1M+19.4% $17.7M+3.6% $17.0M
SG&A Expenses $16.5M-58.3% $39.5M+182.1% $14.0M-12.5% $16.0M+23.6% $12.9M-12.7% $14.8M+11.6% $13.3M-15.3% $15.7M
Operating Income $35.6M+40.6% $25.3M-40.0% $42.2M+13.1% $37.3M-17.4% $45.1M-20.9% $57.0M+3.3% $55.2M+15.0% $48.0M
Interest Expense $6.6M+5.5% $6.3M0.0% $6.3M-0.1% $6.3M-2.2% $6.4M-4.1% $6.7M-22.2% $8.6M0.0% $8.6M
Income Tax $7.5M+79.8% $4.2M-49.9% $8.3M+48.9% $5.6M-7.0% $6.0M-17.3% $7.3M-41.0% $12.3M+198.0% $4.1M
Net Income $24.4M+40.8% $17.4M-44.1% $31.0M+22.7% $25.3M-33.4% $38.0M-6.1% $40.4M+6.5% $37.9M-12.1% $43.2M
EPS (Diluted) N/A $0.37-42.2% $0.64+25.5% $0.51 N/A $0.78+6.8% $0.73-9.9% $0.81

AMPH Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $1.6B-2.2% $1.7B+3.2% $1.6B-0.7% $1.6B+3.1% $1.6B+2.1% $1.5B+3.6% $1.5B-5.3% $1.6B
Current Assets $636.0M-0.5% $639.5M+10.1% $580.8M-1.2% $588.0M+10.1% $534.1M-2.2% $545.9M+13.1% $482.6M-13.0% $555.1M
Cash & Equivalents $170.2M-21.3% $216.3M+15.2% $187.7M+2.7% $182.8M+20.6% $151.6M-21.1% $192.1M+1.3% $189.6M-5.7% $201.1M
Inventory $176.9M-4.9% $185.9M-3.0% $191.7M+3.4% $185.5M+20.6% $153.7M+18.0% $130.3M+6.5% $122.4M+6.0% $115.5M
Accounts Receivable $143.6M-2.2% $146.8M+10.4% $133.0M-8.1% $144.6M+6.1% $136.3M-2.4% $139.6M+6.3% $131.4M-4.9% $138.1M
Goodwill $3.4M-0.1% $3.4M+0.2% $3.4M+7.6% $3.2M+3.5% $3.0M-6.4% $3.3M+4.1% $3.1M-0.7% $3.2M
Total Liabilities $840.5M-5.5% $889.5M+3.7% $857.9M-2.0% $875.0M+3.5% $845.2M+3.4% $817.5M+5.1% $778.2M-13.7% $902.0M
Current Liabilities $158.2M-22.9% $205.2M+16.3% $176.4M-11.4% $199.1M+14.6% $173.8M+9.3% $159.0M+16.1% $137.0M-46.3% $255.2M
Long-Term Debt $619.7M+1.8% $608.6M+0.1% $607.7M+0.6% $603.9M-1.6% $613.5M+2.9% $596.4M+1.6% $586.9M-1.2% $594.0M
Total Equity $788.8M+1.6% $776.7M+2.5% $757.5M+0.8% $751.3M+2.6% $732.3M+0.6% $727.7M+2.0% $713.3M+6.1% $672.4M
Retained Earnings $666.9M+3.8% $642.5M+2.8% $625.1M+5.2% $594.1M+4.4% $568.8M+7.2% $530.8M+8.2% $490.4M+8.4% $452.4M

AMPH Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $32.9M-37.5% $52.6M+47.7% $35.6M+1.5% $35.1M+20.9% $29.0M-51.6% $60.0M-13.2% $69.1M+25.0% $55.3M
Capital Expenditures $8.3M+54.7% $5.3M-49.4% $10.6M-1.2% $10.7M-13.8% $12.4M-10.0% $13.8M+128.2% $6.0M-31.3% $8.8M
Free Cash Flow $24.6M-47.9% $47.2M+88.7% $25.0M+2.7% $24.4M+46.8% $16.6M-64.0% $46.2M-26.8% $63.1M+35.6% $46.5M
Investing Cash Flow -$60.6M-208.7% -$19.6M-3039.0% -$625K-106.0% $10.5M+129.4% -$35.7M-3.2% -$34.6M+50.5% -$69.9M-558.8% $15.2M
Financing Cash Flow -$18.4M-322.7% -$4.3M+85.6% -$30.2M-108.2% -$14.5M+57.1% -$33.8M-48.3% -$22.8M-112.9% -$10.7M+21.1% -$13.6M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $20.5M+323.0% $4.8M-87.6% $39.2M+256.5% $11.0M-73.8% $42.0M+20.1% $35.0M N/A N/A

AMPH Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 46.8%-4.6pp 51.4%+1.8pp 49.6%-0.4pp 50.0%+3.5pp 46.5%-6.9pp 53.3%+1.1pp 52.2%-0.2pp 52.4%
Operating Margin 19.4%+6.3pp 13.2%-11.0pp 24.2%+2.3pp 21.9%-2.3pp 24.2%-5.6pp 29.8%-0.4pp 30.3%+2.3pp 27.9%
Net Margin 13.3%+4.3pp 9.0%-8.8pp 17.8%+3.0pp 14.8%-5.5pp 20.3%-0.8pp 21.1%+0.3pp 20.8%-4.3pp 25.1%
Return on Equity 3.1%+0.9pp 2.2%-1.9pp 4.1%+0.7pp 3.4%-1.8pp 5.2%-0.4pp 5.6%+0.2pp 5.3%-1.1pp 6.4%
Return on Assets 1.5%+0.5pp 1.0%-0.9pp 1.9%+0.4pp 1.6%-0.9pp 2.4%-0.2pp 2.6%+0.1pp 2.5%-0.2pp 2.7%
Current Ratio 4.02+0.9 3.12-0.2 3.29+0.3 2.95-0.1 3.07-0.4 3.43-0.1 3.52+1.3 2.18
Debt-to-Equity 0.790.0 0.78-0.0 0.800.0 0.80-0.0 0.84+0.0 0.820.0 0.82-0.1 0.88
FCF Margin 13.4%-11.2pp 24.6%+10.3pp 14.3%+0.1pp 14.3%+5.4pp 8.9%-15.2pp 24.1%-10.4pp 34.6%+7.5pp 27.1%

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Frequently Asked Questions

Amphastar Pharma (AMPH) reported $719.9M in total revenue for fiscal year 2025. This represents a -1.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Amphastar Pharma (AMPH) revenue declined by 1.7% year-over-year, from $732.0M to $719.9M in fiscal year 2025.

Yes, Amphastar Pharma (AMPH) reported a net income of $98.1M in fiscal year 2025, with a net profit margin of 13.6%.

Amphastar Pharma (AMPH) reported diluted earnings per share of $2.03 for fiscal year 2025. This represents a -33.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Amphastar Pharma (AMPH) had EBITDA of $197.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Amphastar Pharma (AMPH) had $170.2M in cash and equivalents against $619.7M in long-term debt.

Amphastar Pharma (AMPH) had a gross margin of 49.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Amphastar Pharma (AMPH) had an operating margin of 19.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Amphastar Pharma (AMPH) had a net profit margin of 13.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Amphastar Pharma (AMPH) has a return on equity of 12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Amphastar Pharma (AMPH) generated $121.2M in free cash flow during fiscal year 2025. This represents a -29.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Amphastar Pharma (AMPH) generated $156.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Amphastar Pharma (AMPH) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Amphastar Pharma (AMPH) invested $34.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Amphastar Pharma (AMPH) invested $85.8M in research and development during fiscal year 2025.

Yes, Amphastar Pharma (AMPH) spent $75.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Amphastar Pharma (AMPH) had 46M shares outstanding as of fiscal year 2025.

Amphastar Pharma (AMPH) had a current ratio of 4.02 as of fiscal year 2025, which is generally considered healthy.

Amphastar Pharma (AMPH) had a debt-to-equity ratio of 0.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Amphastar Pharma (AMPH) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Amphastar Pharma (AMPH) has an Altman Z-Score of 2.31, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Amphastar Pharma (AMPH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Amphastar Pharma (AMPH) has an earnings quality ratio of 1.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Amphastar Pharma (AMPH) has an interest coverage ratio of 5.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Amphastar Pharma (AMPH) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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