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Amphastar Pharmaceuticals cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$33.4M in Q3 2026 · $139M over twelve months

Operating cash flow$43.3M
Capital spending−$9.9M
Free cash flow+$33.4M
Cash / net income1.1×
Cash conversion cycle196 days

Analysis

In Q3 2026, Amphastar Pharmaceuticals generated $43.3M of operating cash flow and spent $9.9M on capital projects, leaving free cash flow of $33.4M. That is $13.9M less than in Q3 2025 ($47.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $175M; the largest uses were buybacks ($95.7M), other investing ($60.1M), capital spending ($36.3M); besides operations, cash came from shares issued ($5.0M), other financing ($507K); the cash balance fell by $11.7M.

Operating cash flow was $43.3M against net income of $37.8M — 1.1× profit, cash ran ahead of reported earnings. The largest differences: receivables −$37.4M, payables +$15.9M, depreciation & amortization +$15.6M.

Its cash conversion cycle was 196 days (receivables 72 + inventory 151 − payables 27).

Free cash flow

Amphastar Pharmaceuticals: free cash flow by quarterAmphastar Pharmaceuticals: free cash flow by quarter$16.6MQ4 2024$24.4MQ1 2025$25.0MQ2 2025$47.2MQ3 2025$24.6MQ4 2025$38.3MQ1 2026$42.7MQ2 2026$33.4MQ3 2026
Operating cash flow less capital spending.
Amphastar Pharmaceuticals: operating cash flow against capital spendingAmphastar Pharmaceuticals: operating cash flow against capital spendingOperating cash flowCapital spending$29.0M$12.4MQ4 2024$35.1M$10.7MQ1 2025$35.6M$10.6MQ2 2025$52.6M$5.3MQ3 2025$32.9M$8.3MQ4 2025$47.8M$9.5MQ1 2026$51.3M$8.6MQ2 2026$43.3M$9.9MQ3 2026
Latest (Q3 2026): Operating cash flow $43.3M, Capital spending $9.9M.

Capital allocation, year by year

Amphastar Pharmaceuticals: where the cash came from (up) and went (down), by fiscal yearAmphastar Pharmaceuticals: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $98.0MFY2021: Net borrowing $31.8MFY2021: Shares issued $16.8MFY2021: Capital spending −$27.5MFY2021: Buybacks −$28.9M$147MFY2021FY2022: Operating cash flow $89.2MFY2022: Net borrowing −$2.0MFY2022: Shares issued $19.2MFY2022: Asset sales $421KFY2022: Capital spending −$24.0MFY2022: Buybacks −$39.9M$109MFY2022FY2023: Operating cash flow $184MFY2023: Net borrowing $526MFY2023: Shares issued $14.2MFY2023: Capital spending −$38.2MFY2023: Buybacks −$58.1M$724MFY2023FY2024: Operating cash flow $213MFY2024: Net borrowing −$8.3MFY2024: Shares issued $12.2MFY2024: Capital spending −$41.0MFY2024: Buybacks −$85.5M$226MFY2024FY2025: Operating cash flow $156MFY2025: Net borrowing $5.8MFY2025: Shares issued $6.4MFY2025: Capital spending −$34.9MFY2025: Buybacks −$75.6M$168MFY2025
Over these 5 years operating cash flow totalled $740M; the largest uses were buybacks ($288M) and capital spending ($166M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$231M
Debt$613M
Net debt$382M
Due within a year$1.5M

Amphastar Pharmaceuticals funds itself: free cash flow was $139M over the last twelve months, and $231M of cash and investments stands against $613M of debt ($1.5M due within a year, 155.9× covered by cash).

Amphastar Pharmaceuticals: debt maturities by year (FY2025)Amphastar Pharmaceuticals: debt maturities by year (FY2025)$1.5MYear 1$5.7MYear 2$256MYear 3$354MYear 4$3.3MYear 5
Principal due in each year as disclosed in the annual report, against $231M of cash and investments now.

Where the cash came from and went

Amphastar Pharmaceuticals: sources (+) and uses (−) of cash, Q3 2026Amphastar Pharmaceuticals: sources (+) and uses (−) of cash, Q3 2026Other investing−$54.0MOperating cash flow$43.3MCash drawn (+) / kept (−)$19.0MCapital spending−$9.9MShares issued$2.2MBuybacks−$438KExchange rates−$72KNet borrowing (+) / repaid (−)−$33KOther financing−$21K
Amphastar Pharmaceuticals: sources (+) and uses (−) of cash, TTM to Q3 2026Amphastar Pharmaceuticals: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$175MBuybacks−$95.7MOther investing−$60.1MCapital spending−$36.3MCash drawn (+) / kept (−)$11.7MShares issued$5.0MOther financing$507KNet borrowing (+) / repaid (−)−$208KExchange rates−$203K

From profit to cash

Amphastar Pharmaceuticals: net income to operating cash flow, Q3 2026Amphastar Pharmaceuticals: net income to operating cash flow, Q3 2026Net income$37.8MDepreciation & amortization$15.6MStock-based pay$7.0MGains on disposals$423KReceivables−$37.4MInventory$5.9MPayables$15.9MPrepaid and other assets−$2.1MOperating cash flow$43.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20267215127196
Q2 20267217632216
Q1 20267715530201
Q4 20257317135210
Q3 20256718641213
Q2 20257219549219
Q1 20257417944209
Q4 20246813130169

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$43.3M−$9.9M−$438K−$33K$2.2M$19.0M$33.4M
Q2 2026$51.3M−$8.6M−$45.2M−$47K$312K−$52.7M$42.7M
Q1 2026$47.8M−$9.5M−$29.5M−$58K$1.9M−$762K$38.3M
Q4 2025$32.9M−$8.3M−$20.5M$169K$591K$46.1M$24.6M
Q3 2025$52.6M−$5.3M−$4.8M$128K$411K−$28.6M$47.2M
Q2 2025$35.6M−$10.6M−$39.2M$4.1M$3.3M−$4.9M$25.0M
Q1 2025$35.1M−$10.7M−$11.0M$1.6M$2.1M−$31.2M$24.4M
Q4 2024$29.0M−$12.4M−$42.0M$4.8M$1.8M$40.5M$16.6M

Amphastar Pharmaceuticals: income statement and cash flow

Amphastar Pharmaceuticals, Q3 2026: revenue $208M (+8% year over year), operating margin 24.5%. The chart follows the revenue to costs, profit and cash.

Amphastar Pharmaceuticals: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.