Amphstar Pharmaceuticals vs Collegium Pharmaceutical
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KIRA’s take AI analyst
I put Amphstar Pharmaceuticals and Collegium Pharmaceutical side by side, using each one’s latest annual report. Here is what stands out:
- Collegium Pharmaceutical is the larger business, with $781M of revenue in fiscal 2025 against $720M for Amphstar Pharmaceuticals.
- Collegium Pharmaceutical grew revenue faster (23.6%, against −1.7%).
- Collegium Pharmaceutical kept more of each dollar of sales as operating profit (23.0% operating margin, against 19.5%).
- Collegium Pharmaceutical turned more of its sales into free cash flow (42.0% FCF margin, against 16.8%).
- Collegium Pharmaceutical earned a higher return on the capital invested in it (53.4%, against 9.9%).
- Investors pay more for each dollar of Collegium Pharmaceutical’s earnings: a P/E of 18.5x against 14.9x for Amphstar Pharmaceuticals.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Amphstar Pharmaceuticals
AMPH
2/11
Net marginShare count change
Collegium Pharmaceutical
COLL
8/11
Revenue growth5-year growthGross marginOperating marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | AMPH FY25 | COLL FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.1B | $746M |
| Revenue | $720M | $781M |
| Free cash flow | $121M | $328M |
| Net income | $98.1M | $62.9M |
| Growth | ||
| Revenue growth | −1.7% | 23.6% |
| 5-year growth | 15.5% | 20.3% |
| Share count change | −7.4% | −1.8% |
| Profitability | ||
| Gross margin | 49.5% | 59.4% |
| Operating margin | 19.5% | 23.0% |
| Net margin | 13.6% | 8.1% |
| FCF margin | 16.8% | 42.0% |
| Return on capital | 9.9% | 53.4% |
| Return on equity | 12.9% | 23.7% |
| Balance sheet | ||
| Net debt | $339M | −$149M |
| Net debt / EBITDA | 1.7x | −0.4x |
| Dividends and buybacks | $75.6M | $25.1M |
| Valuation & quality | ||
| P/E | 14.9x | 18.5x |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.