Phibro Animal Health Corporation
PAHCHealthcare|Drug Manufacturers - Specialty & Generic|US
$32.96
-2.44 (-6.89%)
Tangible Book / Share
$8.11
Graham Number
$24.21
Cash / Share
$2.05
Financials
Financial Snapshot
Market Cap
$1.34B
Enterprise Value
$2.05B
Revenue (TTM)
$1.54B
Net Income (TTM)
$102.7M
Cash & Investments
$83.1M
Net Cash
-$706.0M
Free Cash Flow (TTM)
$21.7M
Operating CF (TTM)
$85.7M
Debt/Equity
1.89
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $56.1M | $79.2M | $81.6M | $91.3M | $93.2M | $91.2M | $81.3M | $114.6M | $77.0M | $82.0M | $83.1M | |
| Operating Cash Flow | $98.4M | $70.0M | $47.2M | $59.3M | $48.3M | $31.6M | $13.3M | $87.6M | $80.1M | $69.0M | $85.7M | |
| Free Cash Flow | $77.5M | $51.5M | $17.3M | $25.3M | $19.0M | -$5.4M | -$38.5M | $46.4M | $41.8M | $9.9M | $21.7M | |
| Capital Expenditure | -$20.9M | -$18.5M | -$29.9M | -$34.0M | -$29.3M | -$37.0M | -$51.8M | -$41.2M | -$38.3M | -$59.1M | -$64.1M | |
| Financing Cash Flow | -$53.7M | -$11.8M | -$4.1M | $40.9M | -$17.0M | $16.3M | $27.0M | -$6.8M | $207.1M | -$6.6M | -$28.5M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $764.3M | $820.0M | $828.0M | $800.4M | $833.4M | $942.3M | $977.9M | $1.02B | $1.30B | $1.52B | $1.54B | |
| Cost of Revenue | $516.0M | $553.1M | $563.4M | $543.5M | $562.0M | $656.9M | $679.7M | $704.6M | $896.3M | $1.01B | $1.02B | |
| Gross Profit | $248.3M | $266.9M | $264.6M | $256.9M | $271.4M | $285.4M | $298.2M | $313.1M | $399.9M | $511.7M | $520.5M | |
| R&D | $9.4M | $10.0M | $12.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| SG&A | $150.3M | $168.0M | $181.4M | $187.7M | $196.5M | $206.4M | $226.4M | $259.8M | $289.5M | $312.5M | $319.9M | |
| Operating Income | $97.9M | $98.9M | $73.3M | $69.2M | $74.9M | $79.0M | $71.8M | $53.3M | $110.5M | $198.4M | $200.2M | |
| Interest Expense | $16.9M | $13.6M | $13.7M | $14.3M | $10.4M | $12.1M | $17.9M | $22.0M | $33.2M | $47.6M | $45.4M | |
| Pretax Income | $80.5M | $88.1M | $71.5M | $55.5M | $66.5M | $72.3M | $54.1M | $10.9M | $68.0M | $137.3M | $139.9M | |
| Net Income | $64.6M | $64.9M | $54.7M | $33.6M | $54.4M | $49.2M | $32.6M | $2.4M | $48.3M | $99.7M | $102.7M | |
| EPS (Diluted) | 1.61 | 1.61 | 1.35 | 0.83 | 1.34 | 1.21 | 0.81 | 0.06 | 1.19 | 2.44 | 2.51 | |
| EBITDA | $123.4M | $128.6M | $112.7M | $101.6M | $110.2M | $117.1M | $106.0M | $69.1M | $146.8M | $236.5M | $237.5M | |
| Shares Out. (M) | 40.00 | 40.40 | 40.52 | 40.50 | 40.50 | 40.50 | 40.50 | 40.52 | 40.70 | 41.00 | 40.96 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $56.1M | $29.2M | $57.6M | $36.3M | $50.2M | $74.2M | $41.3M | $70.6M | $68.0M | $61.4M | $75.5M | |
| Short-Term Investments | $0.00 | $50.0M | $24.0M | $55.0M | $43.0M | $17.0M | $40.0M | $44.0M | $9.0M | $20.6M | $7.6M | |
| Total Current Assets | $363.7M | $415.5M | $466.2M | $451.8M | $498.9M | $566.2M | $585.7M | $601.0M | $810.6M | $935.5M | $945.2M | |
| Total Assets | $623.4M | $671.7M | $726.7M | $784.1M | $841.3M | $931.7M | $971.4M | $982.2M | $1.36B | $1.50B | $1.51B | |
| Total Current Liabilities | $115.8M | $143.2M | $154.2M | $157.2M | $164.1M | $190.8M | $176.0M | $204.1M | $293.5M | $316.5M | $295.8M | |
| Long-Term Debt | $306.9M | $299.8M | $313.6M | $368.3M | $382.7M | $417.9M | $452.5M | $458.3M | $702.4M | $707.8M | $709.9M | |
| Total Liabilities | $472.2M | $486.7M | $510.7M | $595.9M | $602.8M | $669.3M | $688.9M | $725.5M | $1.08B | $1.12B | $1.10B | |
| Stockholders' Equity | $151.2M | $185.0M | $216.0M | $188.2M | $238.5M | $262.4M | $282.5M | $256.6M | $285.7M | $385.5M | $417.7M | |
| Retained Earnings | $82.8M | $131.6M | $168.9M | $183.1M | $218.0M | $247.7M | $260.9M | $243.9M | $272.7M | $353.0M | $377.6M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $98.4M | $70.0M | $47.2M | $59.3M | $48.3M | $31.6M | $13.3M | $87.6M | $80.1M | $69.0M | $85.7M | |
| Capital Expenditure | -$20.9M | -$18.5M | -$29.9M | -$34.0M | -$29.3M | -$37.0M | -$51.8M | -$41.2M | -$38.3M | -$59.1M | -$64.1M | |
| Free Cash Flow | $77.5M | $51.5M | $17.3M | $25.3M | $19.0M | -$5.4M | -$38.5M | $46.4M | $41.8M | $9.9M | $21.7M | |
| Investing Cash Flow | -$21.9M | -$84.6M | -$14.1M | -$120.4M | -$18.6M | -$22.6M | -$74.0M | -$48.2M | -$288.7M | -$71.5M | -$56.4M | |
| Financing Cash Flow | -$53.7M | -$11.8M | -$4.1M | $40.9M | -$17.0M | $16.3M | $27.0M | -$6.8M | $207.1M | -$6.6M | -$28.5M | |
| Issuance of Stock | $5.5M | $5.7M | $1.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$39.5M | -$1.4M | $13.4M | $60.4M | $5.4M | $40.6M | $42.7M | $12.7M | $236.0M | $13.5M | -$10.0M | |
| Stock Based Comp. | $0.00 | $334.0K | $2.3M | $2.3M | $1.1M | $0.00 | $0.00 | $475.0K | $717.0K | $1.6M | $1.2M | |
| Net Change in Cash | $22.5M | -$26.9M | $28.4M | -$21.2M | $13.9M | $24.0M | -$33.0M | $29.3M | -$2.6M | -$6.6M | $2.8M |
Dilution Tracker
Shares Outstanding
41M
5-Year Share Growth
+1.2%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 40.00 | 40.40 | 40.52 | 40.50 | 40.50 | 40.50 | 40.50 | 40.52 | 40.70 | 41.00 | 40.96 | |
| Change vs Prior % | — | 1.0% | 0.3% | -0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.7% | -0.1% | |
| Stock Issuance | $5.5M | $5.7M | $1.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $334.0K | $2.3M | $2.3M | $1.1M | $0.00 | $0.00 | $475.0K | $717.0K | $1.6M | $1.2M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 32.5% | 32.5% | 32.0% | 32.1% | 32.6% | 30.3% | 30.5% | 30.8% | 30.9% | 33.7% | 33.8% | |
| Operating Margin % | 12.8% | 12.1% | 8.9% | 8.6% | 9.0% | 8.4% | 7.3% | 5.2% | 8.5% | 13.1% | 13.0% | |
| Net Margin % | 8.5% | 7.9% | 6.6% | 4.2% | 6.5% | 5.2% | 3.3% | 0.2% | 3.7% | 6.6% | 6.7% | |
| EBITDA Margin % | 16.1% | 15.7% | 13.6% | 12.7% | 13.2% | 12.4% | 10.8% | 6.8% | 11.3% | 15.6% | 15.4% | |
| FCF Margin % | 10.1% | 6.3% | 2.1% | 3.2% | 2.3% | -0.6% | -3.9% | 4.6% | 3.2% | 0.6% | 1.4% | |
| ROE % | 42.7% | 35.1% | 25.3% | 17.8% | 22.8% | 18.7% | 11.5% | 0.9% | 16.9% | 25.9% | 27.4% | |
| ROA % | 10.4% | 9.7% | 7.5% | 4.3% | 6.5% | 5.3% | 3.4% | 0.2% | 3.5% | 6.6% | 6.8% | |
| ROIC % | 15.3% | 13.5% | 9.6% | 6.4% | 8.8% | 7.0% | 5.3% | 1.4% | 7.2% | 11.8% | 11.7% | |
| R&D / Revenue % | 1.2% | 1.2% | 1.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7% | 7.3% | 1.0% | -3.3% | 4.1% | 13.1% | 3.8% | 4.1% | 27.4% | 17.1% | |
| Gross Profit | 3.9% | 7.5% | -0.9% | -2.9% | 5.6% | 5.2% | 4.5% | 5.0% | 27.7% | 27.9% | |
| Operating Income | 14.2% | 1.0% | -25.9% | -5.6% | 8.2% | 5.5% | -9.0% | -25.8% | 107.2% | 79.6% | |
| Net Income | -21.9% | 0.5% | -15.7% | -38.7% | 62.1% | -9.6% | -33.7% | -92.6% | 1897.7% | 106.6% | |
| EPS (Diluted) | -22.2% | 0.0% | -16.1% | -38.5% | 61.4% | -9.7% | -33.1% | -92.6% | 1883.3% | 105.0% | |
| Operating Cash Flow | 164.4% | -28.9% | -32.6% | 25.8% | -18.6% | -34.5% | -57.9% | 558.1% | -8.5% | -13.9% | |
| Free Cash Flow | 8849.2% | -33.6% | -66.4% | 46.4% | -25.0% | -128.4% | -613.3% | 220.5% | -9.8% | -76.4% | |
| R&D Expense | -14.4% | 5.9% | 20.9% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| SG&A Expense | -2.0% | 11.8% | 8.0% | 3.5% | 4.7% | 5.0% | 9.7% | 14.7% | 11.4% | 8.0% | |
| Total Assets | 2.1% | 7.7% | 8.2% | 7.9% | 7.3% | 10.7% | 4.3% | 1.1% | 38.6% | 10.3% | |
| Book Value / Share | 66.2% | 20.2% | 16.2% | -13.1% | 26.7% | 10.0% | 7.6% | -9.2% | 11.3% | 34.6% | |
| Debt | -11.2% | -0.2% | 4.4% | 25.9% | 3.9% | 10.3% | 8.4% | 3.0% | 44.9% | 3.6% | |
| Diluted Shares | 0.0% | 1.0% | 0.3% | -0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.7% |
Valuation
P/E (TTM)12.98
10Y Low / Med / High12.76 / 22.73 / 284.00
P/S0.87
10Y Low / Med / High0.57 / 1.33 / 2.26
P/B3.20
10Y Low / Med / High1.96 / 4.90 / 10.01
EV/EBITDA8.64
10Y Low / Med / High8.47 / 13.94 / 16.60
EV/Revenue1.33
10Y Low / Med / High1.05 / 1.80 / 2.60
P/FCF61.75
10Y Low / Med / High14.89 / 42.05 / 129.22
Intrinsic Value Models (per share)
Tangible Book / Share
$8.11
Graham Number
$24.21
Cash / Share
$2.05
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | 22.73 | 28.60 | 23.42 | 31.65 | 21.55 | 15.81 | 16.91 | 284.00 | 21.46 | 12.76 | 12.98 | |
| P/S Ratio | 1.91 | 2.26 | 1.54 | 1.33 | 1.40 | 0.82 | 0.57 | 0.68 | 0.80 | 0.84 | 0.87 | |
| P/B Ratio | 9.68 | 10.01 | 5.92 | 5.65 | 4.90 | 2.95 | 1.96 | 2.69 | 3.62 | 3.31 | 3.20 | |
| EV/EBITDA | 13.94 | 16.60 | 13.72 | 14.16 | 14.03 | 10.00 | 9.65 | 16.58 | 11.77 | 8.47 | 8.64 | |
| EV/Revenue | 2.25 | 2.60 | 1.87 | 1.80 | 1.86 | 1.24 | 1.05 | 1.13 | 1.33 | 1.32 | 1.33 |
Analyst Estimates & Quality
Altman Z-Score
3.02
Safe
Piotroski F-Score
7
Strong
Forward Estimates (consensus)
| Metric | FY2027 | FY2028 | FY2029 |
|---|---|---|---|
| Revenue | $1.58B | $1.63B | $1.68B |
| Net Income | $143.6M | $158.1M | $168.2M |
| EPS | $3.50 | $3.85 | $4.11 |
| # Analysts (EPS) | 2 | 2 | 1 |
Dividends
Dividend/Share (TTM)
$0.48
Dividend Yield
1.46%
Frequency
Quarterly
Next Payment
Dec 16, 2026
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Nov 25, 2026 | Dec 16, 2026 | $0.12 | Quarterly |
| Sep 2, 2026 | Sep 23, 2026 | $0.12 | Quarterly |
| Jun 3, 2026 | Jun 24, 2026 | $0.12 | Quarterly |
| Mar 4, 2026 | Mar 25, 2026 | $0.12 | Quarterly |
| Nov 26, 2025 | Dec 17, 2025 | $0.12 | Quarterly |
| Sep 3, 2025 | Sep 24, 2025 | $0.12 | Quarterly |
| Jun 4, 2025 | Jun 25, 2025 | $0.12 | Quarterly |
| Mar 5, 2025 | Mar 26, 2025 | $0.12 | Quarterly |
| Nov 27, 2024 | Dec 18, 2024 | $0.12 | Quarterly |
| Sep 4, 2024 | Sep 25, 2024 | $0.12 | Quarterly |
| Jun 5, 2024 | Jun 26, 2024 | $0.12 | Quarterly |
| Mar 5, 2024 | Mar 27, 2024 | $0.12 | Quarterly |
| Nov 28, 2023 | Dec 20, 2023 | $0.12 | Quarterly |
| Sep 5, 2023 | Sep 27, 2023 | $0.12 | Quarterly |
| Jun 6, 2023 | Jun 28, 2023 | $0.12 | Quarterly |
| Feb 28, 2023 | Mar 22, 2023 | $0.12 | Quarterly |
| Nov 29, 2022 | Dec 21, 2022 | $0.12 | Quarterly |
| Sep 6, 2022 | Sep 28, 2022 | $0.12 | Quarterly |
| May 31, 2022 | Jun 22, 2022 | $0.12 | Quarterly |
| Mar 1, 2022 | Mar 23, 2022 | $0.12 | Quarterly |
Revenue Segments
By Product
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Animal Health | $72.9M | $607.1M | — | — | — | — |
| Mineral Nutrition | $220.6M | $259.5M | — | — | — | — |
| Performance Products | $67.1M | $75.7M | — | — | — | — |
| Vaccines | — | — | $100.0M | $120.9M | $137.2M | $156.4M |
By Geography
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Asia Pacific | $58.0M | $66.9M | $61.5M | $63.2M | $97.4M | $112.4M |
| Europe Middle East And Africa | $114.1M | — | — | — | — | — |
| Latin America And Canada | $166.3M | — | — | — | — | — |
| U | $494.9M | — | — | — | — | — |
| EMEA | — | $122.5M | $117.8M | $122.0M | $160.2M | $187.9M |
| Latin America and Canada | — | $191.0M | $219.8M | $247.7M | $298.6M | $340.7M |
| UNITED STATES | — | $561.8M | $578.8M | $584.8M | $739.9M | $877.1M |