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Side-by-side financial comparison of Amphastar Pharmaceuticals, Inc. (AMPH) and BALCHEM CORP (BCPC). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($270.7M vs $183.1M, roughly 1.5× Amphastar Pharmaceuticals, Inc.). BALCHEM CORP runs the higher net margin — 14.9% vs 13.3%, a 1.5% gap on every dollar of revenue. On growth, BALCHEM CORP posted the faster year-over-year revenue change (8.1% vs -1.8%). BALCHEM CORP produced more free cash flow last quarter ($33.8M vs $24.6M). Over the past eight quarters, BALCHEM CORP's revenue compounded faster (7.5% CAGR vs 3.2%).
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.
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
AMPH vs BCPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.1M | $270.7M |
| Net Profit | $24.4M | $40.3M |
| Gross Margin | 46.8% | — |
| Operating Margin | 19.4% | 20.5% |
| Net Margin | 13.3% | 14.9% |
| Revenue YoY | -1.8% | 8.1% |
| Net Profit YoY | -35.7% | 8.7% |
| EPS (diluted) | $0.51 | $1.25 |
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.
| Q1 26 | — | $270.7M | ||
| Q4 25 | $183.1M | $263.6M | ||
| Q3 25 | $191.8M | $267.6M | ||
| Q2 25 | $174.4M | $255.5M | ||
| Q1 25 | $170.5M | $250.5M | ||
| Q4 24 | $186.5M | $240.0M | ||
| Q3 24 | $191.2M | $239.9M | ||
| Q2 24 | $182.4M | $234.1M |
| Q1 26 | — | $40.3M | ||
| Q4 25 | $24.4M | $39.2M | ||
| Q3 25 | $17.4M | $40.3M | ||
| Q2 25 | $31.0M | $38.3M | ||
| Q1 25 | $25.3M | $37.1M | ||
| Q4 24 | $38.0M | $33.6M | ||
| Q3 24 | $40.4M | $33.8M | ||
| Q2 24 | $37.9M | $32.1M |
| Q1 26 | — | — | ||
| Q4 25 | 46.8% | 35.6% | ||
| Q3 25 | 51.4% | 35.7% | ||
| Q2 25 | 49.6% | 36.4% | ||
| Q1 25 | 50.0% | 35.2% | ||
| Q4 24 | 46.5% | 36.0% | ||
| Q3 24 | 53.3% | 35.6% | ||
| Q2 24 | 52.2% | 35.5% |
| Q1 26 | — | 20.5% | ||
| Q4 25 | 19.4% | 19.8% | ||
| Q3 25 | 13.2% | 20.4% | ||
| Q2 25 | 24.2% | 20.1% | ||
| Q1 25 | 21.9% | 20.4% | ||
| Q4 24 | 24.2% | 19.8% | ||
| Q3 24 | 29.8% | 20.0% | ||
| Q2 24 | 30.3% | 19.6% |
| Q1 26 | — | 14.9% | ||
| Q4 25 | 13.3% | 14.9% | ||
| Q3 25 | 9.0% | 15.1% | ||
| Q2 25 | 17.8% | 15.0% | ||
| Q1 25 | 14.8% | 14.8% | ||
| Q4 24 | 20.4% | 14.0% | ||
| Q3 24 | 21.1% | 14.1% | ||
| Q2 24 | 20.8% | 13.7% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.51 | $1.21 | ||
| Q3 25 | $0.37 | $1.24 | ||
| Q2 25 | $0.64 | $1.17 | ||
| Q1 25 | $0.51 | $1.13 | ||
| Q4 24 | $0.74 | $1.03 | ||
| Q3 24 | $0.78 | $1.03 | ||
| Q2 24 | $0.73 | $0.98 |
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 | $72.9M |
| Total DebtLower is stronger | $608.7M | — |
| Stockholders' EquityBook value | $788.8M | $1.3B |
| Total Assets | $1.6B | $1.7B |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $72.9M | ||
| Q4 25 | $282.8M | $74.6M | ||
| Q3 25 | $276.2M | $65.1M | ||
| Q2 25 | $231.8M | $65.4M | ||
| Q1 25 | $236.9M | $49.9M | ||
| Q4 24 | $221.6M | $49.5M | ||
| Q3 24 | $250.5M | $73.7M | ||
| Q2 24 | $217.8M | $63.7M |
| Q1 26 | — | — | ||
| Q4 25 | $608.7M | — | ||
| Q3 25 | $608.6M | — | ||
| Q2 25 | $607.7M | — | ||
| Q1 25 | $603.9M | — | ||
| Q4 24 | $601.6M | — | ||
| Q3 24 | $596.4M | — | ||
| Q2 24 | $586.9M | — |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $788.8M | $1.3B | ||
| Q3 25 | $776.7M | $1.3B | ||
| Q2 25 | $757.5M | $1.3B | ||
| Q1 25 | $751.3M | $1.2B | ||
| Q4 24 | $732.3M | $1.1B | ||
| Q3 24 | $727.7M | $1.2B | ||
| Q2 24 | $713.3M | $1.1B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.6B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.6B | $1.7B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.5B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.82× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.82× | — |
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 | $40.1M |
| Free Cash FlowOCF − Capex | $24.6M | $33.8M |
| FCF MarginFCF / Revenue | 13.4% | 12.5% |
| Capex IntensityCapex / Revenue | 4.5% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.35× | 0.99× |
| TTM Free Cash FlowTrailing 4 quarters | $121.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.1M | ||
| Q4 25 | $32.9M | $67.3M | ||
| Q3 25 | $52.6M | $65.6M | ||
| Q2 25 | $35.6M | $47.3M | ||
| Q1 25 | $35.1M | $36.5M | ||
| Q4 24 | $29.0M | $52.3M | ||
| Q3 24 | $60.0M | $51.3M | ||
| Q2 24 | $69.1M | $45.0M |
| Q1 26 | — | $33.8M | ||
| Q4 25 | $24.6M | — | ||
| Q3 25 | $47.2M | — | ||
| Q2 25 | $25.0M | — | ||
| Q1 25 | $24.4M | — | ||
| Q4 24 | $16.6M | — | ||
| Q3 24 | $46.2M | — | ||
| Q2 24 | $63.1M | — |
| Q1 26 | — | 12.5% | ||
| Q4 25 | 13.4% | — | ||
| Q3 25 | 24.6% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | 14.3% | — | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 24.1% | — | ||
| Q2 24 | 34.6% | — |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 4.5% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 6.3% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | 7.2% | — | ||
| Q2 24 | 3.3% | — |
| Q1 26 | — | 0.99× | ||
| Q4 25 | 1.35× | 1.72× | ||
| Q3 25 | 3.03× | 1.63× | ||
| Q2 25 | 1.15× | 1.23× | ||
| Q1 25 | 1.39× | 0.98× | ||
| Q4 24 | 0.76× | 1.56× | ||
| Q3 24 | 1.48× | 1.52× | ||
| Q2 24 | 1.82× | 1.40× |
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% |
BCPC
Segment breakdown not available.
