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Side-by-side financial comparison of Amphastar Pharmaceuticals, Inc. (AMPH) and AVIAT NETWORKS, INC. (AVNW). Click either name above to swap in a different company.
Amphastar Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($183.1M vs $111.5M, roughly 1.6× AVIAT NETWORKS, INC.). Amphastar Pharmaceuticals, Inc. runs the higher net margin — 13.3% vs 5.1%, a 8.2% gap on every dollar of revenue. On growth, Amphastar Pharmaceuticals, Inc. posted the faster year-over-year revenue change (-1.8% vs -5.7%). Amphastar Pharmaceuticals, Inc. produced more free cash flow last quarter ($24.6M vs $22.5M). Over the past eight quarters, Amphastar Pharmaceuticals, Inc.'s revenue compounded faster (3.2% CAGR vs 0.3%).
Amphastar Pharmaceuticals is a publicly traded American speciality pharmaceutical company. It was incorporated in May 2004 and primarily develops, manufactures, and sells inhalation and intranasal products.
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
AMPH vs AVNW — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.1M | $111.5M |
| Net Profit | $24.4M | $5.7M |
| Gross Margin | 46.8% | 32.4% |
| Operating Margin | 19.4% | 6.5% |
| Net Margin | 13.3% | 5.1% |
| Revenue YoY | -1.8% | -5.7% |
| Net Profit YoY | -35.7% | 27.2% |
| EPS (diluted) | $0.51 | $0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.1M | $111.5M | ||
| Q3 25 | $191.8M | $107.3M | ||
| Q2 25 | $174.4M | $115.3M | ||
| Q1 25 | $170.5M | $112.6M | ||
| Q4 24 | $186.5M | $118.2M | ||
| Q3 24 | $191.2M | $88.4M | ||
| Q2 24 | $182.4M | $116.7M | ||
| Q1 24 | $171.8M | $110.8M |
| Q4 25 | $24.4M | $5.7M | ||
| Q3 25 | $17.4M | $162.0K | ||
| Q2 25 | $31.0M | $5.2M | ||
| Q1 25 | $25.3M | $3.5M | ||
| Q4 24 | $38.0M | $4.5M | ||
| Q3 24 | $40.4M | $-11.9M | ||
| Q2 24 | $37.9M | $1.5M | ||
| Q1 24 | $43.2M | $3.9M |
| Q4 25 | 46.8% | 32.4% | ||
| Q3 25 | 51.4% | 33.2% | ||
| Q2 25 | 49.6% | 34.2% | ||
| Q1 25 | 50.0% | 34.9% | ||
| Q4 24 | 46.5% | 34.6% | ||
| Q3 24 | 53.3% | 22.4% | ||
| Q2 24 | 52.2% | 35.3% | ||
| Q1 24 | 52.4% | 32.5% |
| Q4 25 | 19.4% | 6.5% | ||
| Q3 25 | 13.2% | 4.8% | ||
| Q2 25 | 24.2% | 7.7% | ||
| Q1 25 | 21.9% | 8.3% | ||
| Q4 24 | 24.2% | 6.7% | ||
| Q3 24 | 29.8% | -17.6% | ||
| Q2 24 | 30.3% | 4.7% | ||
| Q1 24 | 27.9% | 5.1% |
| Q4 25 | 13.3% | 5.1% | ||
| Q3 25 | 9.0% | 0.2% | ||
| Q2 25 | 17.8% | 4.5% | ||
| Q1 25 | 14.8% | 3.1% | ||
| Q4 24 | 20.4% | 3.8% | ||
| Q3 24 | 21.1% | -13.4% | ||
| Q2 24 | 20.8% | 1.3% | ||
| Q1 24 | 25.1% | 3.5% |
| Q4 25 | $0.51 | $0.44 | ||
| Q3 25 | $0.37 | $0.01 | ||
| Q2 25 | $0.64 | $0.42 | ||
| Q1 25 | $0.51 | $0.27 | ||
| Q4 24 | $0.74 | $0.35 | ||
| Q3 24 | $0.78 | $-0.94 | ||
| Q2 24 | $0.73 | $0.11 | ||
| Q1 24 | $0.81 | $0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $282.8M | $86.5M |
| Total DebtLower is stronger | $608.7M | $105.4M |
| Stockholders' EquityBook value | $788.8M | $271.6M |
| Total Assets | $1.6B | $659.4M |
| Debt / EquityLower = less leverage | 0.77× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.8M | $86.5M | ||
| Q3 25 | $276.2M | $64.8M | ||
| Q2 25 | $231.8M | $59.7M | ||
| Q1 25 | $236.9M | $49.4M | ||
| Q4 24 | $221.6M | $52.6M | ||
| Q3 24 | $250.5M | $51.0M | ||
| Q2 24 | $217.8M | $64.6M | ||
| Q1 24 | $289.6M | $59.2M |
| Q4 25 | $608.7M | $105.4M | ||
| Q3 25 | $608.6M | $106.5M | ||
| Q2 25 | $607.7M | $87.6M | ||
| Q1 25 | $603.9M | $73.9M | ||
| Q4 24 | $601.6M | $74.9M | ||
| Q3 24 | $596.4M | $83.4M | ||
| Q2 24 | $586.9M | $48.4M | ||
| Q1 24 | $594.0M | $48.9M |
| Q4 25 | $788.8M | $271.6M | ||
| Q3 25 | $776.7M | $263.6M | ||
| Q2 25 | $757.5M | $263.2M | ||
| Q1 25 | $751.3M | $256.1M | ||
| Q4 24 | $732.3M | $249.6M | ||
| Q3 24 | $727.7M | $247.1M | ||
| Q2 24 | $713.3M | $255.9M | ||
| Q1 24 | $672.4M | $256.0M |
| Q4 25 | $1.6B | $659.4M | ||
| Q3 25 | $1.7B | $643.3M | ||
| Q2 25 | $1.6B | $633.3M | ||
| Q1 25 | $1.6B | $628.3M | ||
| Q4 24 | $1.6B | $594.1M | ||
| Q3 24 | $1.5B | $590.9M | ||
| Q2 24 | $1.5B | $535.2M | ||
| Q1 24 | $1.6B | $490.3M |
| Q4 25 | 0.77× | 0.39× | ||
| Q3 25 | 0.78× | 0.40× | ||
| Q2 25 | 0.80× | 0.33× | ||
| Q1 25 | 0.80× | 0.29× | ||
| Q4 24 | 0.82× | 0.30× | ||
| Q3 24 | 0.82× | 0.34× | ||
| Q2 24 | 0.82× | 0.19× | ||
| Q1 24 | 0.88× | 0.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $32.9M | $23.9M |
| Free Cash FlowOCF − Capex | $24.6M | $22.5M |
| FCF MarginFCF / Revenue | 13.4% | 20.2% |
| Capex IntensityCapex / Revenue | 4.5% | 1.3% |
| Cash ConversionOCF / Net Profit | 1.35× | 4.18× |
| TTM Free Cash FlowTrailing 4 quarters | $121.2M | $16.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.9M | $23.9M | ||
| Q3 25 | $52.6M | $-11.7M | ||
| Q2 25 | $35.6M | $10.5M | ||
| Q1 25 | $35.1M | $1.6M | ||
| Q4 24 | $29.0M | $20.8M | ||
| Q3 24 | $60.0M | $-27.2M | ||
| Q2 24 | $69.1M | $8.3M | ||
| Q1 24 | $55.3M | $15.3M |
| Q4 25 | $24.6M | $22.5M | ||
| Q3 25 | $47.2M | $-13.5M | ||
| Q2 25 | $25.0M | $8.2M | ||
| Q1 25 | $24.4M | $-1.2M | ||
| Q4 24 | $16.6M | $18.3M | ||
| Q3 24 | $46.2M | $-32.6M | ||
| Q2 24 | $63.1M | $7.5M | ||
| Q1 24 | $46.5M | $14.8M |
| Q4 25 | 13.4% | 20.2% | ||
| Q3 25 | 24.6% | -12.6% | ||
| Q2 25 | 14.3% | 7.1% | ||
| Q1 25 | 14.3% | -1.0% | ||
| Q4 24 | 8.9% | 15.5% | ||
| Q3 24 | 24.1% | -36.8% | ||
| Q2 24 | 34.6% | 6.4% | ||
| Q1 24 | 27.1% | 13.4% |
| Q4 25 | 4.5% | 1.3% | ||
| Q3 25 | 2.8% | 1.6% | ||
| Q2 25 | 6.1% | 2.0% | ||
| Q1 25 | 6.3% | 2.5% | ||
| Q4 24 | 6.7% | 2.1% | ||
| Q3 24 | 7.2% | 6.1% | ||
| Q2 24 | 3.3% | 0.7% | ||
| Q1 24 | 5.1% | 0.4% |
| Q4 25 | 1.35× | 4.18× | ||
| Q3 25 | 3.03× | -72.48× | ||
| Q2 25 | 1.15× | 2.02× | ||
| Q1 25 | 1.39× | 0.46× | ||
| Q4 24 | 0.76× | 4.62× | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.82× | 5.37× | ||
| Q1 24 | 1.28× | 3.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMPH
| Other Products | $62.4M | 34% |
| Baqsimi | $46.7M | 26% |
| Primatenemist | $27.9M | 15% |
| Epinephrine | $17.1M | 9% |
| Lidocaine | $14.9M | 8% |
| Glucagon | $14.1M | 8% |
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
