Alvotech (ALVO) vs Amphastar Pharmaceuticals, Inc. (AMPH)

Alvotech and Amphastar Pharmaceuticals, Inc. are both Drug Manufacturers Specialty & Generic companies. Alvotech is the larger, with a market value of $1.8B against $1.2B — 1.5× the size. Alvotech has negative trailing earnings, so its P/E is not meaningful; Amphastar Pharmaceuticals, Inc. trades at 12.3×. Alvotech grew revenue faster over the last twelve months: 364.3% against 3.11%. Amphastar Pharmaceuticals, Inc. has the higher net margin (13.3% vs −101.1%) and the higher return on invested capital (6.12% vs 0.00%). Across the 17 metrics below, Amphastar Pharmaceuticals, Inc. leads on 14 and Alvotech on 3.

Valuation

Metric ALVO AMPH Drug Manufacturers Specialty & Generic median
P/E n/m 12.26 20.55
P/S 4.60 1.58 2.08
P/B n/m 1.44 1.79
Price to free cash flow n/m 8.60 16.29
EV/EBITDA n/m 8.55 12.22
EV/Sales 8.56 2.00 2.87
Earnings yield (26.12%) 8.16% (15.94%)
Free cash flow yield (15.71%) 11.63% 0.00%

Profitability

Metric ALVO AMPH Drug Manufacturers Specialty & Generic median
Gross margin 42.71% 46.81% 53.51%
Operating margin (42.43%) 18.74% 0.00%
Net margin (101.05%) 13.27% (2.45%)
Free cash flow margin 0.00% 18.64% 0.00%
Return on equity 0.00% 12.44% (0.80%)
Return on assets 0.00% 5.86% (1.67%)
Return on invested capital 0.00% 6.12% 0.00%

Growth

Metric ALVO AMPH Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 364.29% 3.11% 5.22%
EPS growth (last fiscal year) 111.49% (33.66%) 42.91%
Revenue growth, 5-year CAGR — 15.53% 7.24%
Net income growth, 5-year CAGR 0.00% 133.84% 0.00%

Health

Metric ALVO AMPH Drug Manufacturers Specialty & Generic median
Debt to equity (6.82) 0.75 0.04
Current ratio 1.65 3.32 2.41
Net debt to EBITDA 9.71 1.62 1.01

Dividend

Metric ALVO AMPH Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.45%
Payout ratio — — 0.27

Size

Metric ALVO AMPH Drug Manufacturers Specialty & Generic median
Market cap 1.78b 1.18b 315.39m

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