Amphastar Pharmaceuticals, Inc. (AMPH) vs Eton Pharmaceuticals, Inc. (ETON)

Amphastar Pharmaceuticals, Inc. and Eton Pharmaceuticals, Inc. are both Drug Manufacturers Specialty & Generic companies. Eton Pharmaceuticals, Inc. is the larger, with a market value of $1.7B against $1.1B — 1.5× the size. Amphastar Pharmaceuticals, Inc. trades at the lower P/E: 15.0× against 123×. Eton Pharmaceuticals, Inc. grew revenue faster over the last twelve months: 81.5% against 1.02%. Eton Pharmaceuticals, Inc. has the higher net margin (12.0% vs 10.8%) and the higher return on invested capital (21.4% vs 6.57%). Across the 21 metrics below, Amphastar Pharmaceuticals, Inc. leads on 11 and Eton Pharmaceuticals, Inc. on 10.

Valuation

Metric AMPH ETON Drug Manufacturers Specialty & Generic median
P/E 15.01 122.72 20.14
P/S 1.56 15.10 2.25
P/B 1.48 34.23 1.90
Price to free cash flow 7.58 n/m 16.54
EV/EBITDA 8.35 74.26 12.29
EV/Sales 2.00 15.11 2.56
Earnings yield 6.66% 0.81% (2.99%)
Free cash flow yield 13.20% (0.53%) 0.00%

Profitability

Metric AMPH ETON Drug Manufacturers Specialty & Generic median
Gross margin 47.68% 57.87% 53.94%
Operating margin 15.66% 15.44% 0.00%
Net margin 10.76% 12.02% 0.00%
Free cash flow margin 20.94% (7.94%) 0.00%
Return on equity 10.30% 35.97% (0.40%)
Return on assets 4.68% 11.67% (3.32%)
Return on invested capital 6.57% 21.39% 0.00%

Growth

Metric AMPH ETON Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 1.02% 81.49% 10.01%
EPS growth (last fiscal year) (33.66%) (13.33%) —
Revenue growth, 5-year CAGR 15.53% 359.57% 6.74%
Net income growth, 5-year CAGR 133.84% 0.00% 0.00%

Health

Metric AMPH ETON Drug Manufacturers Specialty & Generic median
Debt to equity 0.80 0.60 0.05
Current ratio 2.40 1.52 2.31
Net debt to EBITDA 1.62 1.18 0.85

Dividend

Metric AMPH ETON Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.70%
Payout ratio 0.00 0.00 0.00

Size

Metric AMPH ETON Drug Manufacturers Specialty & Generic median
Market cap 1.12b 1.72b 337.35m

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