Amphstar Pharmaceuticals vs Liquidia
Amphstar Pharmaceuticals reported revenue of $720 million in fiscal 2025, 4.5 times Liquidia's $158 million in fiscal 2025. Amphstar Pharmaceuticals' revenue fell 1.6% in its latest year, and Liquidia's grew 1031.2%. Amphstar Pharmaceuticals had an operating margin of 19.5%, against -32.5% at Liquidia. Free cash flow was $121 million at Amphstar Pharmaceuticals and −$40 million at Liquidia.
Side by side
| Amphstar Pharmaceuticals | Liquidia | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $720M | $158M |
| Revenue growth | −1.6% | 1,031.2% |
| Revenue growth a year, last 5 years | 15.5% | 195.7% |
| Gross margin | 49.5% | — |
| Operating margin | 19.5% | −32.5% |
| Net margin | 13.6% | −43.5% |
| Free cash flow | $121M | −$40M |
| Free cash flow margin | 16.8% | −25.3% |
| Return on capital | 9.9% | — |
| Net debt to EBITDA | 1.7x | — |
| Dividends and buybacks | $76M | $0M |
| Change in diluted share count | −7.4% | 9.3% |
| Last close | $28.49 | $44.40 |
| P/E at the last close | 13.0× | 31.9× |
| Insider trades, last 12 months | sold $2.5 million | bought $317,894, sold $219.4 million |
| Piotroski F-score | 6 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Amphstar PharmaceuticalsLiquidia
Operating margin
Percent of revenue
Amphstar PharmaceuticalsLiquidia
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Amphstar PharmaceuticalsLiquidia
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Amphstar Pharmaceuticals and Liquidia pages.