Amphastar Pharmaceuticals (AMPH) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Amphastar Pharmaceuticals

NasdaqGS•Healthcare•Drug Manufacturers - Specialty & Generic

$23.45+0.41(0.02%)Market open

Market Cap

$1.01B

P/E

12.8x

P/S

1.4x

P/B

1.3x

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. It offers BAQSIMI, a dry nasal spray used in an emergency for the treatment of severe hypoglycemia; Primatene MIST, an epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Glucagon for injection emergency kit; Enoxaparin, an injectable form of low molecular weight heparin for the prevention and treatment of deep vein thrombosis; and REXTOVY and Naloxone for opioid overdose. The company also provides Cortrosyn, a lyophilized power for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency; Amphadase, a bovine-sourced hyaluronidase injection; Epinephrine injection for 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; and emergency syringe products, including atropine, calcium chloride, dextrose, epinephrine, lidocaine, and sodium bicarbonate. In addition, it offers Albuterol sulfate inhalation aerosol for the treatment or prevention of bronchospasm; Iron sucrose injection, an iron replacement product for the treatment of iron deficiency anemia in patients with chronic kidney disease; Teriparatide injection for managing daily osteoporosis therapy; and Ipratropium Bromide HFA inhalation aerosol, an anticholinergic indicated for the maintenance treatment of bronchospasm associated with chronic obstructive pulmonary disease. Further, the company provides active pharmaceutical ingredient (API) products, such as Recombinant Human Insulin and porcine insulin API. The company was founded in 1996 and is headquartered in Rancho Cucamonga, California.

How this company scores

GoodMetricSide Score: 67/100

Strongest: Cash & Earnings Quality (25/25); weakest: Growth (8/25).

Profitability17/25

Growth8/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 12.8x5y range 8.0x – 59.0x

Currently near its 20-quarter median.

P/S · 1.4x5y range 1.2x – 5.2x

Currently below its 20-quarter median.

P/B · 1.3x5y range 1.1x – 5.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 37.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Revenue Decline

Watch

Revenue has softened, declining in 3 quarters. Watch for further erosion.

Price & Volume

Market Cap $1.01B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $730.02M
Q. Revenue: $183.90M
TTM EBITDA: $171.41M
TTM Op. Income: $114.28M
Q. Op. Income: $39.73M
TTM Net Income: $78.55M
Q. Net Income: $30.35M
EPS: $0.69
Shares Out.: $43.64M

$730.02M in TTM revenue grew 1.0% YoY, reaching $183.90M last quarter. TTM EBITDA of $171.41M and TTM operating income of $114.28M show growth is flowing through to the bottom line. TTM net income of $78.55M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 50.8%
EBITDA Margin: 29.4%
Op. Margin: 21.6%
Net Margin: 16.5%

Op. margin of 21.6% is down 2.6% YoY — costs are rising relative to revenue. Net margin at 16.5% and gross margin of 50.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 11% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 12.8x
P/S Ratio: 1.4x
P/B Ratio: 1.3x

At 12.8x P/E, the stock trades below typical market levels. P/S of 1.4x and P/B of 1.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 60% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.74B
Cash: $223.61M
Long-Term Debt: $609.56M
Book Value: $768.16M
D/E Ratio: 0.8
Debt/EBITDA: 11.3

With $1.74B in assets and $609.56M in long-term debt, D/E is 0.8and book value is $768.16M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $51.32M
TTM Free Cash Flow: $152.89M
FCF Margin: 20.9%
FCF / Net Income: 1.9

TTM FCF of $152.89M on $51.32M in operating cash flow. The FCF / Net Income ratio of 1.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.