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Amneal Pharmaceuticals

AMRX
61
Drug Manufacturers - Specialty & Generic · Healthcare
Price
$17.91
+0.01 (+0.06%)
Market Cap
$5.72B
Exchange
NASDAQ
Winston Score
61
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Exceptional
Cash Flow
Strong
Stability
Weak
Valuation
Good

Share count rising — dilution

+113.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 151.8M (2021) → 324.8M (2025)

Winston Score History

The full picture

Amneal Pharmaceuticals makes and sells generic and specialty medicines in the United States and internationally. Its generic drugs are cheaper copies of brand-name medications, sold mainly to pharmacies, hospitals, and drug distributors. The company also has a specialty segment focused on branded drugs, including treatments for movement disorders like Parkinson's disease under its Impax legacy portfolio.

Amneal earns money primarily by selling finished drug products — both generic pills and branded specialty medicines — to wholesale distributors and retail pharmacy chains. It operates mostly in the US, with some international presence, and generates roughly $2–3 billion in annual revenue. Its competitive position in generics relies on manufacturing scale and a broad product pipeline, but generic drug pricing is intensely competitive and subject to ongoing price erosion. The key growth driver is expanding its specialty portfolio, particularly injectable and complex generics, though heavy debt from past acquisitions remains a meaningful financial risk.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+152.1% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$186M/ year

Flat (-2% vs prior year)

6.2% of revenue

Below sector average (18%)

Steady R&D investment year-over-year

Insider Activity

48.8%ownership

Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~6 months

$128M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Amneal Pharmaceuticals has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
42.0%
Healthy — 42.0% gross margin
Profit after running costs
Operating Margin
18.3%
Healthy — 18.3% operating margin
Return on the money invested
ROCE
14.6%
Good — 14.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+9.3%
Steady sales growth (+9.3% YoY)
Profit growth
EPS YoY
>+1,000%
Earnings growing fast (>+1,000% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
127%
Turns 127% of profit into real cash
Spare cash per sale
FCF Margin
2.7%
Thin free cash flow (2.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
80.86
Heavy debt load (80.86)
Covers its interest
Interest Cover
1.73x
Dangerous — barely covers interest (1.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
36.7x
Pricey — P/E 36.7

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+18.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (36.7 → 18.5)

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Dividends

Not applicable for this business.
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