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Amneal Pharmaceuticals, Inc. (AMRX) stock

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NASDAQ: AMRX Nasdaq Pharmaceuticals Next results ~November 3, 2026

C Fundamentals grade

Amneal Pharmaceuticals, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$7.1

Cash-flow model

Base case. Range ~$3.4–$12 across our lower- and higher-growth cases (4.9%–14.9% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 65% below it.

Price used: $20.44, November 2, 2026

Amneal Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
  • Funds179 adding, 133 cuttingOf 57 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Amneal Pharmaceuticals files

Where Amneal Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.12bn, up 9.3% on a year earlier, faster than the 7.6% growth a quarter earlier. Free-cash-flow margin fell to 4.1% from 9.9% a year earlier. The diluted share count is up 4.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 5 financial-health checks. Our cash-flow model value is $7.05 a share, against a share price of $21.00. At that price, our model says the market is pricing in about 21.5% a year of cash-flow growth for five years, faster than the 8.3% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Amneal Pharmaceuticals, Inc.'s trailing-twelve-month revenue grew 9.3% year on year, with a free-cash-flow margin of 4.1%. Where it stands out: stock pay as % of revenue of 1.1% ranks 13 of 69 pharmaceuticals companies we cover. Where it lags: long-term debt as % of assets of 67.9% ranks 49 of 53 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$7.1 per share in the base case (~$3.4–$12 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 54.8% while net income grew 4562.6%: a 4617pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $20.44 is 65% above our value per share of $7.
  • Share dilution. Diluted shares rose 4.3% in a year.
  • High earnings multiple. The shares trade at 42 times the last 12 months' earnings, so expectations are demanding.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 67.9% ranks 49 of 53 pharmaceuticals companies we cover (median 23.8%).
  • Short interest rising. Shares sold short rose 25% in a month to 5.7% of tradable shares.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.30 against an average estimate of $0.23: beat by 30.3%
Revenue
$796m, up 9.9% on a year earlier
Share reaction
-4.1% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Guidance given
net revenue $3.1bn to $3.2bn (full year 2026); adjusted EBITDA $750m to $780m (full year 2026)
Next report
November 3, 2026; average EPS estimate $0.24

Amneal Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.0%
  • 1 week-2.8%
  • 1 month+0.7%
  • This year+62.2%
  • 1 year+88.9%
  • 5 years+284.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.1B
Operating margin
14.6%
Net margin
5.0%
EPS (TTM, diluted)
$0.48

Growth

Revenue growth
+9.3%
Change in growth rate
+1.7 pts
Share count change
+4.3%

Cash

Free cash flow (TTM)
$128M
FCF margin
4.1%
Stock pay % of revenue
1.1%

Earnings

Last results
November 3, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Regulatory
  4. Insider trade
  5. Insider trade
  6. Deal
  7. Agreement
  8. Shareholder vote
  9. Results
  10. Guidance
  11. Regulatory
  12. Results
  13. Regulatory

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Amneal Pharmaceuticals, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 21.1% a year of cash-flow growth for five years.That is faster than the 8.3% a year revenue growth Amneal Pharmaceuticals has delivered.

  • Priced in21.1%
  • Last 12 months9.3%
  • 3 years a year10.5%
  • 5 years a year8.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($20.53, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$7.1
Price used
$20.53close November 3, 2026
Implied change
▼ 66%
Uncertainty
High

How we got here: a discounted-cash-flow model of Amneal Pharmaceuticals, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($193M, FY2026 Q2 TTM), growing 7.1% and 9.7% in the next two years (forecasts, guidance and its record), then back to 9.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$3.4–~$12 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Amneal Pharmaceuticals, Inc.'s free cash flow after stock-based pay ( $193M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Amneal Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.84 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$7.1 ~$3.4–$12 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$11 ~$11–$22 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.2 ~$7.1–$11 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Amneal Pharmaceuticals, Inc. with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points higher ▲ more than doubles
  • Last year's free-cash-flow margin change, if it persists ▼ −87%
  • Discount rate 1 point higher ▼ −74%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $1$4$8$13$20$29
8.5% —$1$4$8$13$19
10% ——$1$4$8$13

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$13.53$4.82$4.57$4.79$1.99$6.07$7.92$12.60$20.44
Market value$1.7bn$637m$681m$727m$300m$1.1bn$2.4bn$4.1bn$6.7bn
+ Net debt (− = net cash)$2.5bn$2.5bn$2.5bn$2.5bn$2.7bn$2.5bn$2.4bn$2.4bn$2.6bn
Enterprise value$4.2bn$3.1bn$3.1bn$3.2bn$3.0bn$3.6bn$4.8bn$6.5bn$9.3bn
Multiples
Price / sales 1.0x0.4x0.3x0.3x0.1x0.4x0.9x1.4x2.1x
Price / earnings ——10.0x55.2x———56.8x42.5x
Price / free cash flow 10.3x—2.1x3.7x16.1x3.5x10.1x15.2x52.4x
EV / EBITDA 93.8x—20.7x15.0x—13.2x15.5x14.4x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

34 /100

Weak moat

How hard Amneal Pharmaceuticals's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 9.1% of total assets over 5 years.

  • Pricing power 5 / 20

    Gross margin has been a median 34.9%, moving by 9.9 percentage points (standard deviation) across 9 years.

  • Durability 1 / 20

    Operating margin has been a median 6.6%; its worst year was -6.4%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 8 of 9 years, at a median 8.1% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 130.6% over five years; stock-based pay has been a median 1.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (39 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $818m and EPS of $0.24 (range $0.20 to $0.28) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.03 +24% $3.2bn +5%
Next $1.21 +17% $3.5bn +9%

Next year's EPS estimate has moved +4.0% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.7% on 90 days ago. In the last 30 days, 1 analyst raised Amneal Pharmaceuticals, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Amneal Pharmaceuticals, Inc., last 90 days
$0.90 $1.00 $1.10 $1.20 $1.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.99 Current fiscal year, 60 days ago: $1.01 Current fiscal year, 30 days ago: $1.02 Current fiscal year, 7 days ago: $1.03 Current fiscal year, Now: $1.03 $1.03 Next fiscal year, 90 days ago: $1.16 Next fiscal year, 60 days ago: $1.16 Next fiscal year, 30 days ago: $1.19 Next fiscal year, 7 days ago: $1.20 Next fiscal year, Now: $1.21 $1.21

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.99$1.16
60 days ago $1.01$1.16
30 days ago $1.02$1.19
7 days ago $1.03$1.20
Now $1.03$1.21

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.23 $0.30 +30.3%
Mar 2026 $0.17 $0.27 +59.6%
Dec 2025 $0.18 $0.21 +14.1%
Sept 2025 $0.14 $0.17 +22.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • Net revenue full year 2026 $3.1bn to $3.2bn Raised
    “Net revenue $3.10 billion - $3.20 billion” source
  • Adjusted diluted EPS full year 2026 $0.96 to $1.06 Non-GAAP Raised
    “Adjusted diluted EPS (2) $0.96 - $1.06” source
  • Adjusted EBITDA full year 2026 $750m to $780m Non-GAAP Raised
    “Adjusted EBITDA (1) $750 million - $780 million” source
  • Operating cash flow full year 2026 $350m to $400m Maintained
    “Operating cash flow (3) $350 million - $400 million” source
  • Operating cash flow, excluding discrete items full year 2026 $375m to $425m Maintained
    “Operating cash flow, excluding discrete items (4) $375 million - $425 million” source
  • Capital expenditures full year 2026 about $150m Raised
    “Capital expenditures (5) ~$150 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Amneal Pharmaceuticals, Inc.'s revenue by +7.1% next year and +9.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.2%, weight 53%) , management guidance (+5.8%, weight 20%) and the company's own record (+9.9%, weight 27%) . How the weights are set.

Analyst recommendations

7 analysts, Nov 2026
Buy7100%
Hold00%
Sell00%

Monthly trend

  1. Nov 2026347
  2. Oct 2026347
  3. Sep 2026325

Counts of recommendations published by analysts covering Amneal Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.7%
of tradable shares
Days to cover
3.8
at average volume
Short interest, 1 month
+25%
to October 15, 2026
Held by institutions
48%
of shares
Held by insiders
52.1%
of shares
Employees
8,700
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +88.9%

$10.82 on October 31, 2025 to $20.44

ThenNowEffect
Revenue (last 12 months) $2.9bn $3.1bn +9.3%
Net margin 0.1% 5.0% +4166.8%
P/E multiple n/m 42.5x −95.8%
Share count 314m 327m −4.1%

Biggest factor: net margin.

Last 3 years +376.5%

$4.29 on November 3, 2023 to $20.44

ThenNowEffect
Revenue (last 12 months) $2.3bn $3.1bn +34.8%
P/S multiple 0.6x 2.1x +279.4%
Share count 305m 327m −6.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AMRX+5%−59%+205%+31%+59%+62%
Industry peers (median)−20%−49%−14%−2%+7%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AMRX58%33%75%50%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AMRX−47%−60%−53%−17%−23%−22%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since May 7, 2018: 95% from August 20, 2018 to March 28, 2023. Getting back needed a 1811% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$11.20 – $21.51
From 52-week high
−5.0%
vs 50-day average
+6.6%
vs 200-day average
+29.5%
Volatility (1 year)
35%
Beta vs S&P 500
0.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 6 down
typical move ±3.2%
After a week
6 up, 5 down
typical move ±7.4%
After a month
5 up, 6 down
typical move ±9.5%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −4.1% +2.4% −5.4% −8.2%
May 7, 2026 −3.1% +0.5% −10.2% +0.7%
April 22, 2026 −2.8% +0.6% −1.7% −4.6%
February 27, 2026 −5.0% −0.4% −8.6% −17.5%
January 13, 2026 +2.1% −0.7% +5.6% +12.7%
October 30, 2025 +3.7% −0.8% +11.8% +18.0%
August 5, 2025 +1.1% +0.3% +13.3% +20.0%
July 21, 2025 −0.1% +0.2% +2.5% +17.1%
May 2, 2025 −2.6% +0.9% −4.3% −3.7%
February 28, 2025 +4.5% −0.2% +6.2% 0.0%
January 15, 2025 +5.9% +1.6% +12.2% −1.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Amneal Pharmaceuticals, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Amneal Pharmaceuticals, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Amneal Pharmaceuticals, Inc.
$2.2B $2.4B $2.6B $2.8B $3B $3.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.4B Revenue (TTM), FY23 Q4: $2.4B Revenue (TTM), FY24 Q1: $2.5B Revenue (TTM), FY24 Q2: $2.6B Revenue (TTM), FY24 Q3: $2.7B Revenue (TTM), FY24 Q4: $2.8B Revenue (TTM), FY25 Q1: $2.8B Revenue (TTM), FY25 Q2: $2.9B Revenue (TTM), FY25 Q3: $2.9B Revenue (TTM), FY25 Q4: $3B Revenue (TTM), FY26 Q1: $3B Revenue (TTM), FY26 Q2: $3.1B $3.1B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.4B
FY23 Q4 $2.4B
FY24 Q1 $2.5B
FY24 Q2 $2.6B
FY24 Q3 $2.7B
FY24 Q4 $2.8B
FY25 Q1 $2.8B
FY25 Q2 $2.9B
FY25 Q3 $2.9B
FY25 Q4 $3B
FY26 Q1 $3B
FY26 Q2 $3.1B
Revenue growth, TTM YoY Amneal Pharmaceuticals, Inc.
5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.5% Revenue growth, TTM YoY, FY23 Q4: 8.2% Revenue growth, TTM YoY, FY24 Q1: 9.8% Revenue growth, TTM YoY, FY24 Q2: 12.4% Revenue growth, TTM YoY, FY24 Q3: 12.3% Revenue growth, TTM YoY, FY24 Q4: 16.7% Revenue growth, TTM YoY, FY25 Q1: 13.4% Revenue growth, TTM YoY, FY25 Q2: 9.8% Revenue growth, TTM YoY, FY25 Q3: 9.5% Revenue growth, TTM YoY, FY25 Q4: 8.0% Revenue growth, TTM YoY, FY26 Q1: 7.6% Revenue growth, TTM YoY, FY26 Q2: 9.3% 9.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.5%
FY23 Q4 8.2%
FY24 Q1 9.8%
FY24 Q2 12.4%
FY24 Q3 12.3%
FY24 Q4 16.7%
FY25 Q1 13.4%
FY25 Q2 9.8%
FY25 Q3 9.5%
FY25 Q4 8.0%
FY26 Q1 7.6%
FY26 Q2 9.3%
Operating margin (TTM) Amneal Pharmaceuticals, Inc.
5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 9.5% Operating margin (TTM), FY23 Q4: 8.5% Operating margin (TTM), FY24 Q1: 6.4% Operating margin (TTM), FY24 Q2: 6.7% Operating margin (TTM), FY24 Q3: 7.0% Operating margin (TTM), FY24 Q4: 8.9% Operating margin (TTM), FY25 Q1: 12.7% Operating margin (TTM), FY25 Q2: 13.2% Operating margin (TTM), FY25 Q3: 12.2% Operating margin (TTM), FY25 Q4: 13.1% Operating margin (TTM), FY26 Q1: 14.3% Operating margin (TTM), FY26 Q2: 14.6% 14.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 9.5%
FY23 Q4 8.5%
FY24 Q1 6.4%
FY24 Q2 6.7%
FY24 Q3 7.0%
FY24 Q4 8.9%
FY25 Q1 12.7%
FY25 Q2 13.2%
FY25 Q3 12.2%
FY25 Q4 13.1%
FY26 Q1 14.3%
FY26 Q2 14.6%
FCF margin (TTM) Amneal Pharmaceuticals, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 5.9% FCF margin (TTM), FY23 Q4: 12.6% FCF margin (TTM), FY24 Q1: 6.4% FCF margin (TTM), FY24 Q2: 8.1% FCF margin (TTM), FY24 Q3: 9.9% FCF margin (TTM), FY24 Q4: 8.7% FCF margin (TTM), FY25 Q1: 8.9% FCF margin (TTM), FY25 Q2: 9.9% FCF margin (TTM), FY25 Q3: 9.0% FCF margin (TTM), FY25 Q4: 8.9% FCF margin (TTM), FY26 Q1: 7.9% FCF margin (TTM), FY26 Q2: 4.1% 4.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 5.9%
FY23 Q4 12.6%
FY24 Q1 6.4%
FY24 Q2 8.1%
FY24 Q3 9.9%
FY24 Q4 8.7%
FY25 Q1 8.9%
FY25 Q2 9.9%
FY25 Q3 9.0%
FY25 Q4 8.9%
FY26 Q1 7.9%
FY26 Q2 4.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Amneal Pharmaceuticals took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $3B
  2. Cost of revenue $1.9B · 63.1%
  3. Gross profit $1.1B · 36.9%
  4. Research and development $186M · 6.2%
  5. Selling, general and admin $527M · 17.5%
  6. Operating income $394M · 13.1%
  7. Interest and other $311M · 10.3%
  8. Net income $72.1M · 2.4%

Shares of revenue. Source: Amneal Pharmaceuticals's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,018 1,034 1,663 1,626 1,993 2,094 2,212 2,394 2,794 3,019 3,118
Gross profit 597 526 716 353 628 769 785 821 1,020 1,113 1,226
EBITDA 314 287 45 −185 152 213 −27 271 312 451 —
Operating income 285 245 −20 −249 91 153 −95 204 249 394 454
Net income 0 0 −20 −604 68 13 −271 −84 −117 72 157
Diluted EPS — — −$0.16 −$2.74 $0.61 $0.07 −$0.86 −$0.48 −$0.38 $0.22 $0.48
Growth (year on year)
Revenue — +1.5% +60.9% −2.2% +22.5% +5.1% +5.7% +8.2% +16.7% +8.0% +9.3%
EBITDA — −8.6% −84.4% −514.4% — +40.8% −112.6% — +15.3% +44.7% —
Operating income — −14.0% −108.0% — — +67.5% −162.2% — +22.0% +58.1% +20.6%
Net income — — — — — −80.6% — — — — —
Diluted EPS — — — — — −88.5% — — — — —
Margins
Gross margin 58.7% 50.9% 43.1% 21.7% 31.5% 36.7% 35.5% 34.3% 36.5% 36.9% 39.3%
EBITDA margin 30.9% 27.8% 2.7% −11.4% 7.6% 10.2% −1.2% 11.3% 11.2% 15.0% —
Operating margin 28.0% 23.7% −1.2% −15.3% 4.6% 7.3% −4.3% 8.5% 8.9% 13.1% 14.6%
Net margin 0.0% 0.0% −1.2% −37.1% 3.4% 0.6% −12.2% −3.5% −4.2% 2.4% 5.0%
Free-cash-flow margin −0.8% 13.5% 10.1% −2.8% 16.2% 9.3% 0.8% 12.6% 8.7% 8.9% 4.1%
Cash flow
Cash from operations 115 234 250 2 379 242 65 346 295 340 201
Capital spending 123 95 83 47 56 48 46 43 52 70 73
Free cash flow −8 139 167 −45 323 194 19 302 243 270 128
Stock-based pay 0 0 168 22 21 28 32 27 28 32 36
Free cash flow after stock pay −8 139 −0 −67 302 166 −13 276 215 238 92
Balance sheet
Cash 27 74 213 151 341 248 26 92 111 282 128
Total debt 0 — 2,687 2,660 2,806 2,731 2,682 2,599 2,486 2,695 2,684
Net debt (negative = net cash) −27 −74 2,473 2,508 2,464 2,483 2,656 2,508 2,375 2,413 2,557
Diluted shares — — 127m 132m 149m 152m 151m 176m 309m 325m 327m
Returned to shareholders
Dividends 201 375 183 0 0 — — — — — —
Buybacks 0 — — — — — — — — — —
Total returned 201 375 183 0 0 — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $3.8bn
Short-term assets $1.9bnLonger-term assets $1.8bn
What it owes, and who funded it · $916m
Short-term liabilities $883mShareholders' equity $33m
  • Short-term assets cover short-term liabilities $1.9bn of assets due within a year against $883m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $128m of cash against $2.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 7783% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 744% to 7783% over five years.
  • A year's operating cash flow covers at least 20% of debt $201m of operating cash flow against $2.6bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Amneal Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.3%
year over year
R&D spending
5.6%
of revenue
Sales & admin spending
18.3%
of revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated AMRX RPRX JAZZ ELAN OGN LNTH Median
Revenue, last 12 months $3.1bn $2.5bn $4.7bn $5.0bn $6.1bn $1.6bn $276m
Revenue growth, last 12 months 9.3% 10.0% 13.5% 12.0% −3.2% 2.3% 9.9%
Revenue growth, 3-year average 10.5% 2.4% 7.5% 5.1% −0.3% 11.4% 5.5%
Revenue growth, latest quarter 9.9% 16.5% 10.4% 10.2% −1.7% 2.7% 6.5%
Gross margin 39.3% — 93.0% 55.4% 53.1% 60.1% 62.0%
Operating margin 14.6% 59.6% 9.0% — — 19.4% −5.9%
Operating margin, 3-year average 11.5% 60.8% 4.5% — — 26.7% −7.4%
Net margin 5.0% 32.1% 4.4% −4.0% 3.5% 17.7% −7.3%
Cash from operations / revenue 6.4% 117.4% 35.9% 12.3% 13.8% 26.5% 10.2%
Free-cash-flow margin 4.1% 117.2% 34.4% 7.5% 11.1% 24.9% 8.6%
Free-cash-flow margin, 3-year average 7.4% — 31.6% 8.4% 11.7% 28.6% 7.4%
Stock pay / revenue 1.1% 16.9% 6.3% 1.4% 1.2% 5.0% 3.6%
Change in share count 4.3% −3.9% 3.1% 0.0% 2.4% −7.8% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 9.3% 10.0% 39 of 74
Change in growth rate Growth +1.7pp -0.3pp 27 of 74
Gross margin Profitability 39.3% 59.8% 43 of 59
Operating margin Profitability 14.6% -5.9% 16 of 67
Net margin Profitability 5.0% -7.3% 26 of 75
Free-cash-flow margin Cash generation 4.1% 10.1% 42 of 74
Stock pay as % of revenue Cash generation 1.1% 3.6% 13 of 69
Long-term debt as % of assets Balance sheet 67.9% 23.8% 49 of 53
Change in share count Balance sheet 4.3% 1.5% 44 of 62

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Av KARE $745M ▲ 12.3%
Specialty $529M ▲ 18.6%

These categories overlap or exclude eliminations, so shares aren't shown.

From Amneal Pharmaceuticals, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.9B
Institutions reporting
306
Shares held vs prior quarter
▲ 4.7%
Positions opened / closed
41 / 50

Top buyers and sellers, Q2 2026: 179 institutions bought and 133 sold ; the biggest buyer was Blackrock, Inc (+2.0M shares) and the biggest seller D. E. Shaw & Co., Inc (−946K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $460M 26.6M 15.8% ▲ 8.3%
Tpg Gp A, LLC $213M 12.3M 7.3% 0.0%
Vanguard Portfolio Management LLC $210M 12.1M 7.2% ▲ 7.2%
Rubric Capital Management LP $176M 10.2M 6.0% ▼ 7.9%
Vanguard Capital Management LLC $133M 7.7M 4.6% ▲ 1.6%
State Street Corp $127M 7.4M 4.4% ▲ 8.3%
Dimensional Fund Advisors LP $100M 5.8M 3.4% ▲ 1.8%
Geode Capital Management, LLC $89M 5.1M 3.1% ▲ 13.1%
Assenagon Asset Management S.A. $84.7M 4.9M 2.9% ▲ 59.5%
Nantahala Capital Management, LLC $78.5M 4.5M 2.7% ▲ 59.5%
Morgan Stanley $71.1M 4.1M 2.4% ▼ 11.4%
Neuberger Berman Group LLC $67.3M 3.9M 2.3% ▲ 5.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Amneal Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $9.8M 7 trades by 5 insiders · 0% under pre-set plans
Net ▼ $9.8M net selling
Insider Date Trade Shares Price Value
Kiely John Director August 13, 2026 Sell 50,000 $17.64 $882,000
Daly Jason B. EVP, Chief Legal Officer August 12, 2026 Sell 210,000 $17.40 $3.7M
Shah Nikita Executive Vice President August 12, 2026 Sell 146,403 $17.51 $2.6M
Daly Jason B. EVP, Chief Legal Officer August 11, 2026 Sell 6,613 $17.70 $117,050
Autor Deborah M. Director May 11, 2026 Sell 34,819 $12.94 $450,558
Nark Ted C Director November 17, 2025 Sell 50,000 $11.72 $586,000
Shah Nikita Executive Vice President November 12, 2025 Sell 131,856 $11.92 $1.6M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Amneal Pharmaceuticals, Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Gilbert Ray Cisneros, Jr.(D-CA 39):Sale (full), $1,001 - $15,000, traded May 29, 2019, filed June 18, 2019
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded May 24, 2019, filed June 15, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

  • November 3, 2026
  • July 30, 2026
  • May 7, 2026
  • April 22, 2026
  • February 27, 2026
  • January 13, 2026

Recent SEC filings

Data status

When each part of this page on Amneal Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Amneal Pharmaceuticals, Inc. in brief

What does Amneal Pharmaceuticals, Inc. do?
Amneal Pharmaceuticals, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Amneal Pharmaceuticals, Inc.'s stock ticker?
Amneal Pharmaceuticals, Inc. trades under the ticker AMRX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Amneal Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Amneal Pharmaceuticals, Inc. reported revenue of $3.1B, 9.3% higher than a year earlier, according to its SEC filings.
What is Amneal Pharmaceuticals, Inc.'s free cash flow?
Amneal Pharmaceuticals, Inc.'s free-cash-flow margin is 4.1% of revenue over the trailing twelve months, ranking 42 of the 74 pharmaceuticals companies we cover.
What is Amneal Pharmaceuticals, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Amneal Pharmaceuticals, Inc.'s free cash flow after stock-based pay gives ~$7.1 per share in the base case, and ~$3.4–$12 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Amneal Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Tpg Gp A, LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Amneal Pharmaceuticals, Inc.'s market cap?
On November 2, 2026, Amneal Pharmaceuticals, Inc.'s market capitalisation was about $6.7B, with a price-to-earnings ratio of 42.5 and net debt of $2.6B. Market figures come from third-party market data and may be delayed.
How much debt does Amneal Pharmaceuticals, Inc. have?
Amneal Pharmaceuticals, Inc.'s debt-to-equity ratio is 7783.1%, from its latest balance sheet (743.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Amneal Pharmaceuticals, Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Amneal Pharmaceuticals, Inc. are Royalty Pharma plc, Jazz Pharmaceuticals plc, Elanco Animal Health Inc, Organon & Co. and Lantheus Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Amneal Pharmaceuticals, Inc.'s.
Are insiders buying or selling Amneal Pharmaceuticals, Inc. stock?
Over the last 12 months, Amneal Pharmaceuticals, Inc.'s directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Amneal Pharmaceuticals, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Amneal Pharmaceuticals, Inc. announces its own schedule.