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Amphastar Pharmaceuticals, Inc.

AMPH NASDAQ Categories PDF
Healthcare · Drug Manufacturers - Specialty & Generic · United States · Updated May 10, 8:14pm
$19.00
Price
$837.8M
Market Cap
2,028
Employees
0.97
Beta
Yongfeng Zhang
CEO
Business Description

Amphastar Pharmaceuticals, Inc., a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. The company operates through two segments, Finished Pharmaceutical Products and API. It offers Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, a low molecular weight heparin to prevent and treat deep vein thrombosis; Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, a lyophilized powder for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency. The company also provides Amphadase, a bovine-sourced hyaluronidase injection to absorb and disperse other injected drugs; Epinephrine injection for the emergency treatment of allergic reactions; lidocaine jelly, an anesthetic product for urological procedures; lidocaine topical solution for various procedures; phytonadione injection, a vitamin K1 injection for newborn babies; emergency syringe products for emergency use in hospital settings; morphine injection for use with patient controlled analgesia pumps; and lorazepam injection for surgery and medical procedures. In addition, it offers neostigmine methylsulfate injection to treat myasthenia gravis and to reverse the effects of muscle relaxants; and Isoproterenol hydrochloride injection for mild or transient episodes of heart block. Further, the company distributes recombinant human insulin active pharmaceutical ingredients (API) and porcine insulin API. It serves hospitals, care facilities, alternate care sites, clinics, and doctors' offices. The company was founded in 1996 and is headquartered in Rancho Cucamonga, California.

Business History
Price Overview
Last updated: May 11, 2026 1:52pm (just now)
$19.14
+0.14 (+0.76%)
Day Range
$18.45 – $19.41
52-Week Range
$17.03 – $31.26
50-Day MA
$20.57
200-Day MA
$25.11
Volume
590,475.72
Analyst Price Targets
Low $22.00
Consensus $26.00
High $30.00
(6 analysts)
Share Structure
Outstanding 44,092,921.00
Float 32,950,197.00
Free Float 74.7%
Normal free float — 74.7% of shares trade freely, ~25.3% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
10.95
Stock Price: $19.00
EPS (Diluted): 2.10
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
1.59
Stock Price: $19.00
Total Equity: $788.81M
Shares: 48,215,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
4.81
Market Cap: $837.77M
Total Debt: $610.30M
Cash: $170.18M
EBITDA: $149.11M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$1.7B
Market Cap: $837.77M
Total Debt: $610.30M
Cash: $170.18M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
49.5%
Gross Profit: $356.06M
Revenue: $719.89M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
19.5%
Operating Income: $140.40M
Revenue: $719.89M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
13.6%
Net Income: $98.09M
Revenue: $719.89M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
10.2%
Net Income: $98.09M
Total Equity: $788.81M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
6.0%
Operating Income: $140.40M
Tax Rate: 20.7%
Equity: $788.81M
Total Debt: $610.30M
Cash: $170.18M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
4.02
Current Assets: $636.02M
Current Liabilities: $158.16M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.77
Short-Term Debt: $1.64M
Long-Term Debt: $608.66M
Total Debt: $610.30M
Total Equity: $788.81M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$14.93
Revenue: $719.89M
Shares: 48,215,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$16.36
Total Equity: $788.81M
Shares: 48,215,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$2.51
Operating CF: $156.12M
CapEx: -$34.88M
Shares: 48,215,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $19.00
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $98.09M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares AMPH against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $437.8M $499.0M $644.4M $732.0M $719.9M
Cost of Revenue $238.0M $250.1M $293.3M $358.1M $363.8M
Gross Profit $199.7M $248.9M $351.1M $373.9M $356.1M
Operating Expenses $129.9M $141.4M $154.1M $168.4M $215.7M
Operating Income $69.9M $107.5M $197.0M $205.4M $140.4M
Net Income $62.1M $91.4M $137.5M $159.5M $98.1M
EBITDA $111.6M $146.2M $240.3M $277.3M $149.1M
EPS $1.30 $1.88 $2.85 $3.29 $2.10
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $126.4M $156.1M $144.3M $151.6M $170.2M
Total Current Assets $318.1M $378.3M $489.6M $534.1M $636.0M
Total Assets $671.5M $742.0M $1.5B $1.6B $1.6B
Current Liabilities $103.8M $94.9M $225.4M $173.8M $158.2M
Long-Term Debt $74.4M $72.8M $589.6M $601.6M $608.7M
Total Liabilities $226.0M $213.3M $873.5M $845.2M $840.5M
Total Equity $445.5M $528.7M $639.4M $732.3M $788.8M
Retained Earnings $180.3M $271.7M $409.3M $568.8M $666.9M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $98.0M $89.2M $183.5M $213.4M $156.1M
Capital Expenditure -$27.5M -$24.0M -$38.2M -$41.0M -$34.9M
Free Cash Flow $70.5M $65.1M $145.3M $172.3M $121.2M
Acquisitions (net) $0 $421,000 -$506.4M -$129.0M $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$28.9M -$39.9M -$58.1M -$85.5M -$75.6M
Net Change in Cash $32.1M $29.7M -$11.8M $7.3M $18.6M
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $794.7M
$789.2M – $800.2M
 $822.9M
$822.1M – $823.6M
 $881.0M
$865.2M – $895.1M
 $905.0M
$888.7M – $919.5M
EBITDA $166.3M
$165.2M – $167.5M
 $172.2M
$172.1M – $172.4M
 $184.4M
$181.1M – $187.3M
 $189.4M
$186.0M – $192.4M
Net Income $162.6M
$158.0M – $167.1M
 $170.0M
$166.2M – $173.7M
 $145.6M
$142.2M – $148.6M
 $144.6M
$141.3M – $147.7M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +14.0% +29.1% +13.6% -1.7%
Gross Profit Growth +24.6% +41.1% +6.5% -4.8%
Operating Income Growth +53.8% +83.2% +4.3% -31.7%
Net Income Growth +47.1% +50.5% +16.0% -38.5%
EBITDA Growth +31.0% +64.4% +15.4% -46.2%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-03-15 Liawatidewi Yakob F-InKind 1,033.00 $18.18 $18,780
2026-03-15 Zhou Rong F-InKind 1,225.00 $18.18 $22,271
2026-03-15 PETERS WILLIAM J F-InKind 1,973.00 $18.18 $35,869
2026-03-15 Zhang Jack Y. F-InKind 9,784.00 $18.18 $177,873
2026-03-15 Zhang Jack Y. F-InKind 2,908.00 $18.18 $52,867
2026-03-09 PETERS WILLIAM J A-Award 58,693.00 $0.00 $0
2026-03-10 PETERS WILLIAM J F-InKind 3,297.00 $18.91 $62,346
2026-03-09 PETERS WILLIAM J A-Award 121,071.00 $19.21 $2.3M
2026-03-09 Zhou Rong A-Award 39,432.00 $0.00 $0
2026-03-10 Zhou Rong F-InKind 2,215.00 $18.91 $41,886
2026-03-09 Zhou Rong A-Award 81,341.00 $19.21 $1.6M
2026-03-09 Liawatidewi Yakob A-Award 35,450.00 $0.00 $0
2026-03-10 Liawatidewi Yakob F-InKind 1,870.00 $18.91 $35,362
2026-03-09 Liawatidewi Yakob A-Award 73,126.00 $19.21 $1.4M
2026-03-09 Zhang Jack Y. A-Award 180,504.00 $0.00 $0
2026-03-10 Zhang Jack Y. F-InKind 14,785.00 $18.91 $279,584
2026-03-09 Zhang Jack Y. A-Award 72,462.00 $0.00 $0
2026-03-10 Zhang Jack Y. F-InKind 4,395.00 $18.91 $83,109
2026-03-09 Zhang Jack Y. A-Award 372,338.00 $19.21 $7.2M
2026-03-09 Zhang Jack Y. A-Award 149,472.00 $19.21 $2.9M
Dividend History (Last 20)
Date Dividend Declaration Record Payment
2010-06-11 $0.30 2010-06-07 2010-06-30
2009-06-11 $0.30 2009-06-05 2009-06-30
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27