What is Amphastar Pharmaceuticals, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Amphastar Pharmaceuticals, Inc.'s reported free cash flow gives $75.02 per share. The share price was $26.13 on September 25, 2026, 65% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $42.42 | +62% |
| Base | 15.0% | 9.0% | $75.02 | +187% |
| Bull | 20.0% | 8.0% | $135.72 | +419% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $99.70 | $107.40 | $116.80 | $128.56 | $143.67 |
| 8.0% | $81.16 | $86.15 | $92.05 | $99.12 | $107.78 |
| 9.0% | $67.67 | $71.08 | $75.02 | $79.61 | $85.04 |
| 10.0% | $57.44 | $59.87 | $62.62 | $65.76 | $69.39 |
| 11.0% | $49.44 | $51.22 | $53.20 | $55.44 | $57.98 |
Where the presets come from
Base: years 1 to 5 grow at Amphastar Pharmaceuticals, Inc.'s revenue growth rate over the last 5 fiscal years (15.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions