Amphastar Pharmaceuticals, Inc. (AMPH) intrinsic value & 10-year financials
Amphastar Pharmaceuticals, Inc. (AMPH) has a Graham intrinsic value of $67.43 per share. At $25.87 on Oct 17, 2026, the stock trades 62% below that value. Over the last 10 fiscal years revenue grew 12.2% a year to $719.9M, with an average return on invested capital of 8.3%.
- Graham intrinsic value
- $67.43
- Share price (Oct 17, 2026)
- $25.87
- Price vs Graham value
- 62% below
- Market cap
- $1.2B
- Revenue (FY2025)
- $719.9M
- Revenue growth (10-yr CAGR)
- 12.2%
- ROIC (10-yr avg)
- 8.3%
- Free cash flow (FY2025)
- $121.2M
AMPH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $719.9M | $98.1M | $2.03 | $121.2M | 19.5% | 9.2% |
| FY2024 | $732.0M | $159.5M | $3.06 | $172.3M | 28.1% | 15.3% |
| FY2023 | $644.4M | $137.5M | $2.60 | $145.3M | 30.6% | 20.9% |
| FY2022 | $499.0M | $91.4M | $1.74 | $65.1M | 21.5% | 20.4% |
| FY2021 | $437.8M | $62.1M | $1.25 | $70.5M | 16.0% | 14.2% |
| FY2020 | $349.8M | $1.4M | $0.03 | $23.4M | 3.1% | 1.6% |
| FY2019 | $322.4M | $48.9M | $0.98 | $207.0K | -0.0% | -0.0% |
| FY2018 | $294.7M | -$5.7M | -$0.12 | -$8.6M | -2.9% | -1.8% |
| FY2017 | $240.2M | $4.5M | $0.09 | $4.1M | -0.4% | -0.3% |
| FY2016 | $255.2M | $10.5M | $0.22 | $17.2M | 6.1% | 3.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Amphastar Pharmaceuticals, Inc. is a consistent compounder, expanding top-line revenue at 12.2% annually over the past decade.
Amphastar Pharmaceuticals, Inc. returns on capital have been average, hovering around 8.3% ROIC over the decade.
Over the decade, Amphastar Pharmaceuticals, Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Amphastar Pharmaceuticals, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $67.43 per share.