QualityDipStocks / Health Care · Pharmaceuticals
Amphastar Pharmaceuticals AMPH
Outside our quality screen, so we don’t track its dips. It’s 8% below its 52-week high.
Outside our quality screen, 12% over its Market Value. No fair value estimate for now: the model’s result is too extreme to stand behind.
Worth knowing
- FCF yield 13%, top 7% of the 1322 we measure
- Share count down 9% in 2 years
From the data on this page, as of the last close. How we pick these
- Fair value est.
- n/a
- Market Value
- $24.12price +12%
- Off 52-wk high
- −8%
- Risk vs market
- Lowbeta 0.55
52-week range 81% of the way from its 52-week low to its high
Price $27.03Market Value $24.12
5 bullish · 5 bearish See why
Repriced or dip?
Near its high
The price is 8% below its 52-week high (Jan 12), but the business held up: free cash flow +35.0%, shares outstanding fewer shares, each owns more, revenue growth rate +1.0 pts.
Some numbers held up (free cash flow +35.0%, shares outstanding fewer shares, each owns more, revenue growth rate +1.0 pts), others slipped (earnings per share −24.1%, operating margin −5.1 pts). The price is 8% below its 52-week high.
The price is 8% below its 52-week high, and the business changed too: earnings per share −24.1%, operating margin −5.1 pts.
Within 10% of its 52-week high, so there is no dip to judge yet.
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
At the high ($29.40, Jan 12) the price assumed about −1%/yr free-cash-flow growth; at the low ($16.87, May 15) about −15%; today about −9%. The last 3 years delivered 23%/yr (free cash flow).
Dashed line: what the last 3 years delivered, 23%/yr (free cash flow)
| High | Low | Now | |
|---|---|---|---|
| Price | $29.40Jan 12 | $16.87May 15 | $27.03 |
| Implied growth | −1% | −15% | −9% |
| P/E | 12.6× | 9.9× | 15.2× |
| P/FCF | 12.4× | 5.8× | 7.8× |
What this means: the higher the implied growth, the more the price already counts on. If today's number sits well below what the business has delivered, the market expects less than its track record.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
Estimate unreliable for AMPH: the model gives 254% above the price, more than we can stand behind (usually peak-cycle cash flow, heavy debt, or cash flows that include customer or loan balances). We’d rather show nothing than a made-up number.
What the price implies To be worth today’s price, AMPH’s free cash flow would need to shrink about 9% a year for five years; our estimate uses 13%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much AMPH moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 4.0× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.55
- Volatility
- 52% vs 13% SPY
- Correlation SPY
- 0.14
- Correlation QQQ
- 0.00
How it ranks
Where AMPH stands vs every one of the 2,467 stocks we cover that has the number. Longer bar = better.
Top quarter on 2 of 4 measures
- Free cash flow yield13% · free cash flow vs market capTop 7%of 1,690
- Dividends + buybacks yield8.4% · cash paid out or used to retire shares, vs market capTop 11%of 2,227
- Revenue growth, last 12 months+1% · vs the 12 months beforeLowest 17%of 2,184
- Operating margin16% · of sales kept as operating profitTop 34%of 1,549
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
MV $24.12 · FCF value $92.15
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
ValuationFree-cash-flow yield of 12.8% (price / FCF 7.8×): $153M of free cash in the last 12 months.
Cash returnsShare count down 8.1% in a year: $100M of buybacks over 12 months.
ValuationP/E of 15.2× vs a 28.9× median for the 161 Health Care companies we cover.
Cash returnsFree cash flow grew 36% over the last 12 months vs the 12 months before.
GrowthSales compounded 13% a year from FY2022 to FY2025.
Top bearish points 5 of 5
ProfitabilityOperating margin narrowed to 19.5% in FY2025 from 30.6% in FY2023 (SEC filings).
GrowthDiluted EPS fell 34% to $2.03 in FY2025.
GrowthSales growth slowed to 1% over the last 12 months, from 13% a year over the prior three fiscal years.
ProfitabilityGross margin narrowed to 49.5% in FY2025 from 54.5% in FY2023 (SEC filings).
ValuationTrades 12.1% above its Market Value of $24.12, the average price paid since the Aug 6 filing.
All fundamentals
P/E 15.2 · FCF yield 12.8% · Sales +1%
Valuation
- P/E
- 15.2×Health Care median 28.9×
- Price / FCF
- 7.8×
- FCF yield
- 12.8%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 1.64×
- Price / book
- n/anot reported in its SEC filings
- Market cap
- $1.2Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $730M
- Sales growth, 12 months
- +1.0%vs the 12 months before
- Sales growth, 3 yrs
- +13.0%/yrfrom FY2022
- Diluted EPS, 12 months
- $1.69
- EPS growth, last FY
- −33.7%
- Net income, 12 months
- $79M
- Net income growth
- −42%12 months vs before
Profitability
- Gross margin
- 47.7%
- Operating margin
- 15.7%
- Net margin
- 10.8%
- FCF margin
- 20.9%
- Return on equity
- n/anot reported in its SEC filings
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- n/anot reported in its SEC filings
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- 4.4×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $153M
- FCF growth, 12 months
- +36%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $100M8.4% of market cap
- Share count, 1 year
- −8.1%diluted shares vs a year ago
- Stock-based comp
- $29M
Trailing 12 months to Jun 30, 2026. From Amphastar Pharmaceuticals’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $0.1B · Sales +5%
- Free cash flow, 12 months$0.1B
- Free-cash-flow yield12.8%
- Gross margin48%
- Operating margin22%
- Return on invested capital11%
- Return on equity10%
- Sales growth (latest quarter vs year-ago quarter)+5%
- Net debt / EBITDA2.0×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $27.03
- 52-wk lowlowest close, 1 year$16.87−37.6%
- Market Valueavg paid since Aug 6$24.12−10.8%
- PriceMon Nov 2 close$27.03you are here
- 52-wk highhighest close, 1 year$29.40+8.8%
Momentum & 52-week range
RSI 60 · 5 days +6.1%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 5
- DateThu Nov 5, after the close
- Consensus EPS$0.80
- Year-ago EPS$0.83
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
AMPH is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Amphastar Pharmaceuticals in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 5:14 PM ET.
Compare with peers
Closest in size in Pharmaceuticals
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.