AMPH Financials Amphastar Pharmaceuticals, Inc.

14 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:13 UTC Overview →

Growth & profitability

Revenue has grown 15.5% per year over the past 5 years.
Net income has grown faster than revenue (133.8% vs 15.5% per year).
Operating margin has expanded, at 19.5% in the latest year.
Free cash flow has grown 38.9% per year over the past 5 years.

Financial health

Total debt ($620M) exceeds cash ($170M); net debt is $450M.
Total debt has grown faster than revenue (68.3% vs 15.5% per year).
Operating income covered interest expense 5.5× in the latest year.
Total debt is 4.4× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$720M	$98M	49.5%	19.5%	12.4%	6.0%	$121M	$620M	$170M
2024	$732M	$160M	51.1%	28.1%	21.8%	10.1%	$172M	$614M	$152M
2023	$644M	$138M	54.5%	30.6%	21.5%	9.1%	$145M	$603M	$144M
2022	$499M	$91M	49.9%	21.5%	17.3%	12.3%	$65M	$77M	$156M
2021	$438M	$62M	45.6%	16.0%	13.9%	9.2%	$71M	$78M	$126M
2020	$350M	$1M	41.0%	3.1%	0.3%	0.2%	$23M	$46M	$93M
2019	$322M	$49M	40.9%	-0.0%	11.4%	8.3%	$207000	$46M	$74M
2018	$295M	-$6M	36.3%	-2.9%	-1.6%	-1.1%	-$9M	$49M	$86M
2017	$240M	$4M	37.7%	-0.5%	1.1%	0.8%	$4M	$46M	$66M
2016	$255M	$10M	40.8%	6.0%	3.0%	2.3%	$17M	$36M	$72M
2015	—	-$3M	—	—	-0.9%	-0.7%	-$5M	$40M	$66M
2014	—	-$11M	—	—	—	-2.7%	—	$43M	$68M
2013	—	$12M	—	—	—	3.5%	—	—	$54M
2012	—	$18M	—	—	—	—	—	—	$50M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$184M	$30M	50.8%	21.6%	4.0%	1.7%	$43M	—	$224M
Mar '26	$171M	$6M	41.1%	8.0%	0.8%	0.4%	$38M	—	$171M
Dec '25	$183M	$24M	46.8%	19.4%	3.1%	1.5%	$25M	$620M	$170M
Sep '25	$192M	$17M	51.4%	13.2%	2.2%	1.0%	$47M	—	$216M
Jun '25	$174M	$31M	49.6%	24.2%	4.1%	1.9%	$25M	—	$188M
Mar '25	$171M	$25M	50.0%	21.9%	3.4%	1.6%	$24M	—	$183M
Dec '24	$187M	$38M	46.5%	24.2%	5.2%	2.4%	$17M	$614M	$152M
Sep '24	$191M	$40M	53.3%	29.8%	5.6%	2.6%	$46M	—	$192M
Jun '24	$182M	$38M	52.2%	30.3%	5.3%	2.5%	$63M	—	$190M
Mar '24	$172M	$43M	52.4%	27.9%	6.4%	2.7%	$46M	—	$201M
Dec '23	$178M	$36M	54.0%	30.3%	5.7%	2.4%	$14M	$603M	$144M
Sep '23	$181M	$49M	60.0%	40.3%	8.3%	3.2%	$54M	$653M	$267M
Jun '23	$146M	$26M	49.9%	25.3%	4.4%	1.9%	$46M	—	$149M
Mar '23	$140M	$26M	52.7%	23.9%	4.7%	3.4%	$31M	—	$177M
Dec '22	$135M	$34M	52.7%	28.0%	6.4%	4.6%	$9M	$77M	$156M
Sep '22	$120M	$16M	48.7%	19.3%	3.1%	2.2%	$15M	—	$157M
Jun '22	$123M	$17M	51.3%	20.1%	3.5%	2.4%	-$3M	—	$166M
Mar '22	$120M	$24M	46.4%	18.0%	5.1%	3.4%	$45M	—	$173M
Dec '21	$121M	$20M	46.5%	20.1%	4.4%	2.9%	$34M	$78M	$126M
Sep '21	$112M	$30M	45.6%	22.1%	6.9%	4.5%	-$5M	—	$107M

Valuation over time

How the market has priced AMPH against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 17.4× (Mar '23) to 11.8× (Nov '26).
The price-to-sales ratio has fallen from 3.2× (Mar '23) to 1.6× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is AMPH growing its revenue and profit?

Over the past 5 years, Amphastar Pharmaceuticals, Inc.'s revenue has grown 15.5% per year, and net income grown 133.8% per year. These are computed facts, not advice.

How much debt does AMPH have?

As of FY2025, Amphastar Pharmaceuticals, Inc. reported $620M of total debt against $170M of cash; operating income covered interest expense 5.5×.

What is AMPH's profit margin?

In FY2025, gross margin was 49.5%, operating margin 19.5%, and net margin 13.6%.

What is AMPH's P/E ratio?

Amphastar Pharmaceuticals, Inc.'s P/E (TTM) is 14.68 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AMPH stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 11.8× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.