Amneal Pharmaceuticals vs Jazz Pharmaceuticals
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The short version
- Jazz Pharmaceuticals is the larger business, with $4.3B of revenue in fiscal 2025 against $3.0B for Amneal Pharmaceuticals.
- Amneal Pharmaceuticals grew revenue faster (8.1%, against 4.9%).
- Amneal Pharmaceuticals kept more of each dollar of sales as operating profit (13.1% operating margin, against −10.1%).
- Jazz Pharmaceuticals turned more of its sales into free cash flow (30.4% FCF margin, against 8.9%).
- Amneal Pharmaceuticals earned a higher return on the capital invested in it (16.1%, against −4.2%).
- Investors pay more for each dollar of Amneal Pharmaceuticals’s earnings: a P/E of 41.6x against 14.6x for Jazz Pharmaceuticals.
| Latest fiscal year | AMRX · FY25 | JAZZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.7B | $14.9B |
| Revenue | $3.0B | $4.3B |
| Free cash flow | $270M | $1.3B |
| Net income | $72.1M | −$356M |
| Growth | ||
| Revenue growth | 8.1% | 4.9% |
| 5-year growth | 8.7% | 12.5% |
| Share count change | 5.1% | −7.6% |
| Profitability | ||
| Gross margin | 36.9% | — |
| Operating margin | 13.1% | −10.1% |
| Net margin | 2.4% | −8.4% |
| FCF margin | 8.9% | 30.4% |
| Return on capital | 16.1% | −4.2% |
| Return on equity | — | −8.5% |
| Balance sheet | ||
| Net debt | $2.3B | $4.0B |
| Net debt / EBITDA | 3.8x | — |
| Dividends and buybacks | $0.0M | $125M |
| Valuation & quality | ||
| P/E | 41.6x | 14.6x |
| Piotroski F-score | 7 | 4 |
Revenue
FY16
AMRX $1.0B
JAZZ $1.5B
FY17
AMRX $1.0B
JAZZ $1.6B
FY18
AMRX $1.7B
JAZZ $1.9B
FY19
AMRX $1.6B
JAZZ $2.2B
FY20
AMRX $2.0B
JAZZ $2.4B
FY21
AMRX $2.1B
JAZZ $3.1B
FY22
AMRX $2.2B
JAZZ $3.7B
FY23
AMRX $2.4B
JAZZ $3.8B
FY24
AMRX $2.8B
JAZZ $4.1B
FY25
AMRX $3.0B
JAZZ $4.3B
AMRX
JAZZ
Operating margin
FY16
AMRX 28.0%
JAZZ 39.8%
FY17
AMRX 23.7%
JAZZ 32.7%
FY18
AMRX −1.2%
JAZZ 32.5%
FY19
AMRX −15.3%
JAZZ 24.6%
FY20
AMRX 4.6%
JAZZ 16.0%
FY21
AMRX 7.3%
JAZZ 5.5%
FY22
AMRX −4.3%
JAZZ −1.8%
FY23
AMRX 8.5%
JAZZ 15.1%
FY24
AMRX 8.9%
JAZZ 17.6%
FY25
AMRX 13.1%
JAZZ −10.1%
AMRX
JAZZ
Free cash flow
FY16
AMRX −$7.7M
JAZZ $583M
FY17
AMRX $139M
JAZZ $664M
FY18
AMRX $167M
JAZZ $779M
FY19
AMRX −$45.5M
JAZZ $736M
FY20
AMRX $323M
JAZZ $885M
FY21
AMRX $194M
JAZZ $751M
FY22
AMRX $18.7M
JAZZ $1.2B
FY23
AMRX $302M
JAZZ $1.1B
FY24
AMRX $243M
JAZZ $1.4B
FY25
AMRX $270M
JAZZ $1.3B
AMRX
JAZZ
Return on capital
FY16
AMRX —
JAZZ 16.7%
FY17
AMRX —
JAZZ —
FY18
AMRX −0.7%
JAZZ —
FY19
AMRX −6.3%
JAZZ 13.1%
FY20
AMRX 2.5%
JAZZ 7.6%
FY21
AMRX 3.4%
JAZZ 1.9%
FY22
AMRX −2.6%
JAZZ −0.6%
FY23
AMRX 6.2%
JAZZ 7.3%
FY24
AMRX 8.5%
JAZZ 9.1%
FY25
AMRX 16.1%
JAZZ −4.2%
AMRX
JAZZ
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.