Amneal Pharmaceuticals vs Indivior
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The short version
- Amneal Pharmaceuticals is the larger business, with $3.0B of revenue in fiscal 2025 against $1.2B for Indivior, about 2.4 times as much.
- Amneal Pharmaceuticals grew revenue faster (8.1%, against 4.3%).
- Indivior kept more of each dollar of sales as operating profit (21.2% operating margin, against 13.1%).
- Amneal Pharmaceuticals turned more of its sales into free cash flow (8.9% FCF margin, against −7.5%).
- Investors pay more for each dollar of Amneal Pharmaceuticals’s earnings: a P/E of 41.6x against 12.4x for Indivior.
| Latest fiscal year | AMRX · FY25 | INDV · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.7B | $4.3B |
| Revenue | $3.0B | $1.2B |
| Free cash flow | $270M | −$93.0M |
| Net income | $72.1M | $210M |
| Growth | ||
| Revenue growth | 8.1% | 4.3% |
| 5-year growth | 8.7% | — |
| Share count change | 5.1% | −3.8% |
| Profitability | ||
| Gross margin | 36.9% | 80.2% |
| Operating margin | 13.1% | 21.2% |
| Net margin | 2.4% | 17.0% |
| FCF margin | 8.9% | −7.5% |
| Return on capital | 16.1% | — |
| Return on equity | — | — |
| Balance sheet | ||
| Net debt | $2.3B | $124M |
| Net debt / EBITDA | 3.8x | 0.5x |
| Dividends and buybacks | $0.0M | $11.0M |
| Valuation & quality | ||
| P/E | 41.6x | 12.4x |
| Piotroski F-score | 7 | 4 |
Revenue
FY16
AMRX $1.0B
INDV —
FY17
AMRX $1.0B
INDV —
FY18
AMRX $1.7B
INDV —
FY19
AMRX $1.6B
INDV —
FY20
AMRX $2.0B
INDV —
FY21
AMRX $2.1B
INDV $791M
FY22
AMRX $2.2B
INDV $901M
FY23
AMRX $2.4B
INDV $1.1B
FY24
AMRX $2.8B
INDV $1.2B
FY25
AMRX $3.0B
INDV $1.2B
AMRX
INDV
Operating margin
FY16
AMRX 28.0%
INDV —
FY17
AMRX 23.7%
INDV —
FY18
AMRX −1.2%
INDV —
FY19
AMRX −15.3%
INDV —
FY20
AMRX 4.6%
INDV —
FY21
AMRX 7.3%
INDV 26.9%
FY22
AMRX −4.3%
INDV −9.0%
FY23
AMRX 8.5%
INDV −13.9%
FY24
AMRX 8.9%
INDV 3.2%
FY25
AMRX 13.1%
INDV 21.2%
AMRX
INDV
Free cash flow
FY16
AMRX −$7.7M
INDV —
FY17
AMRX $139M
INDV —
FY18
AMRX $167M
INDV —
FY19
AMRX −$45.5M
INDV —
FY20
AMRX $323M
INDV —
FY21
AMRX $194M
INDV $349M
FY22
AMRX $18.7M
INDV −$9.0M
FY23
AMRX $302M
INDV −$308M
FY24
AMRX $243M
INDV $7.0M
FY25
AMRX $270M
INDV −$93.0M
AMRX
INDV
Return on capital
FY16
AMRX —
INDV —
FY17
AMRX —
INDV —
FY18
AMRX −0.7%
INDV —
FY19
AMRX −6.3%
INDV —
FY20
AMRX 2.5%
INDV —
FY21
AMRX 3.4%
INDV —
FY22
AMRX −2.6%
INDV —
FY23
AMRX 6.2%
INDV —
FY24
AMRX 8.5%
INDV —
FY25
AMRX 16.1%
INDV —
AMRX
INDV
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.