Amphastar Pharmaceuticals, Inc. (AMPH) vs Xeris Biopharma Holdings, Inc. (XERS)

Amphastar Pharmaceuticals, Inc. and Xeris Biopharma Holdings, Inc. are both Drug Manufacturers Specialty & Generic companies. Xeris Biopharma Holdings, Inc. is the larger, with a market value of $1.8B against $1.1B — 1.6× the size. Xeris Biopharma Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Amphastar Pharmaceuticals, Inc. trades at 14.9×. Xeris Biopharma Holdings, Inc. grew revenue faster over the last twelve months: 36.3% against 1.02%. Amphastar Pharmaceuticals, Inc. has the higher net margin (10.8% vs −5.12%) and the lower return on invested capital (6.57% vs 18.9%). Across the 20 metrics below, Amphastar Pharmaceuticals, Inc. leads on 13 and Xeris Biopharma Holdings, Inc. on 7.

Valuation

Metric AMPH XERS Drug Manufacturers Specialty & Generic median
P/E 14.87 n/m 19.25
P/S 1.55 5.30 2.11
P/B 1.47 n/m 1.78
Price to free cash flow 7.50 31.91 16.14
EV/EBITDA 8.29 36.06 12.58
EV/Sales 1.98 5.69 2.73
Earnings yield 6.73% (0.94%) (4.38%)
Free cash flow yield 13.33% 3.13% 0.00%

Profitability

Metric AMPH XERS Drug Manufacturers Specialty & Generic median
Gross margin 47.68% 86.58% 53.94%
Operating margin 15.66% 10.91% 0.00%
Net margin 10.76% (5.12%) 0.00%
Free cash flow margin 20.94% 16.60% 0.00%
Return on equity 10.30% 118.22% (0.40%)
Return on assets 4.68% (4.60%) (3.32%)
Return on invested capital 6.57% 18.88% 0.00%

Growth

Metric AMPH XERS Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 1.02% 36.33% 10.01%
EPS growth (last fiscal year) (33.66%) 100.86% 49.06%
Revenue growth, 5-year CAGR 15.53% 70.20% 6.74%
Net income growth, 5-year CAGR 133.84% 0.00% 0.00%

Health

Metric AMPH XERS Drug Manufacturers Specialty & Generic median
Debt to equity 0.80 (25.95) 0.05
Current ratio 2.40 1.45 2.31
Net debt to EBITDA 1.62 2.67 0.97

Dividend

Metric AMPH XERS Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.57%
Payout ratio — — 0.27

Size

Metric AMPH XERS Drug Manufacturers Specialty & Generic median
Market cap 1.12b 1.84b 276.90m

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