Skip to content
Forensic Analysis · Pharmaceuticals & Biotechnology · as of Nov 9, 2026

Amphastar Pharmaceuticals, Inc. (AMPH)

A forensic read on Amphastar Pharmaceuticals, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality, modest growth
Forensic grade
Safe
Financial health
4.8
Distress distance
Clean
Earnings quality
2
Forensic signals
12.9%
ROE
-1.7%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Amphastar Pharmaceuticals, Inc. earns an A (High-quality, modest growth) forensic quality grade, and its balance-sheet distress test reads 4.8, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by inventory days.

What the filings flag

166d
FY2024→FY2025
Inventory days. Days inventory outstanding moved from 132 to 166 FY2024→FY2025 (against cost of goods sold; inventory +15% vs +2% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
8.7%
FY2025
Return on invested capital. Return on invested capital is 8.7% in the latest fiscal year and slipping across FY2023–FY2025 from 14.0%. After-tax operating profit was $160M in FY2023 and $111M in FY2025, with operating income at 30.6% of revenue in FY2023, 28.1% in FY2024 and 19.5% in FY2025. The capital base behind it grew +12% across FY2023–FY2025, from $1.1B to $1.3B, while the return fell 5.3 points, so the dollars added over that window earned less than the 14.0% the older base was already earning.

Key fundamentals

Latest Revenue$719.9M
Revenue Growth YoY-1.7%
Revenue CAGR (2yr)+5.7%
Net Margin13.6%
Free Cash Flow$121.2M
Return on Equity12.9%
Debt / Equity0.79x

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Amphastar Pharmaceuticals, Inc.'s actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.