A Business at a Glance
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ANI PHARMACEUTICALS INC
ANIP
$1.8B
Mkt Cap
$77.65
-1.12%
ANI PHARMACEUTICALS INC (ANIP) has a current P/E ratio of 23.4, compared to its historical median P/E of 33.7. The stock is currently considered Fair based on its historical valuation range.
ANI PHARMACEUTICALS INC (ANIP) has a 5-year average return on invested capital (ROIC) of 1.9%. This is below average and may indicate limited pricing power.
ANI PHARMACEUTICALS INC (ANIP) has a market capitalization of $1.8B. It is classified as a small-cap stock.
Yes, ANI PHARMACEUTICALS INC (ANIP) pays a dividend with a trailing twelve-month yield of 0.06%. The company also returns capital through share buybacks, with a buyback yield of 0.68%.
Based on historical P/E analysis, ANI PHARMACEUTICALS INC (ANIP) appears fair. The current P/E of 23.4 is 31% below its historical median of 33.7. The estimated fair value CAGR (P/E method) is 6.2%.
ANI PHARMACEUTICALS INC (ANIP) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
ANI PHARMACEUTICALS INC (ANIP) reported annual revenue of $883 million in its most recent fiscal year, based on SEC EDGAR filings.
ANI Pharmaceuticals is a diversified bio-pharmaceutical company. The Company's mission is “Serving Patients, Improving Lives” by developing, manufacturing, and commercializing therapeutics through its Rare Disease, Generics, and Brands businesses. On September 16, 2024, the Company acquired Alimera Sciences, Inc. ("Alimera"). In connection with the acquisition, the Company added two new products, ILUVIEN® ("ILUVIEN") and YUTIQ® ("YUTIQ"). See Note 3 "Business Combination" in the notes to the consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K. During March 2025, the FDA approved an expanded label for ILUVIEN to include an indication for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye ("NIU-PS") in addition to the then-current indication of Diabetic Macular Edema ("DME"). The Company is currently marketing ILUVIEN for both indications in the U.S.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Rare Disease and Brands total net revenues | — | $81M | $198M | $294M | $484M | 22% |
Rare Disease total net revenues | — | $42M | $112M | $230M | $423M | 19% |
Generics and Other total net revenues | — | $235M | $289M | $320M | $399M | 18% |
Generic pharmaceutical products | — | $210M | $269M | $301M | $384M | 17% |
Cortrophin Gel | — | $42M | $112M | $198M | $348M | 16% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 883M | 883M | 614M | 487M | 316M | 216M |
| Net Income | 77M | 77M | -20M | 17M | -50M | -43M |
| EPS | $3.32 | $3.32 | $-1.04 | $0.85 | $-3.05 | $-3.40 |
| Free Cash Flow | 171M | 171M | 48M | 110M | -40M | 765K |
| ROIC | 15.7% | 15.8% | - | 8.4% | -8.1% | -8.7% |
| Gross Margin | 61.4% | 61.4% | 59.3% | 62.7% | 56.1% | 53.5% |
| Debt/Equity | 0.59 | 0.59 | 0.80 | 0.67 | 0.92 | 0.86 |
| Dividends/Share | $0.05 | $0.05 | $0.08 | $0.08 | $0.10 | $0.02 |
| Operating Income | 111M | 111M | - | 47M | -35M | -40M |
| Operating Margin | 12.6% | 12.6% | - | 9.6% | -11.2% | -18.4% |
| ROE | 14.3% | 16.3% | -4.8% | 4.6% | -15.3% | -16.2% |
| Shares Outstanding | 23M | 23M | 19M | 20M | 16M | 13M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 56M | 76M | 129M | 177M | 202M | 207M | 208M | 216M | 316M | 487M | 614M | 883M | 883M |
| Gross Margin | 79.5% | 83.4% | 62.1% | 55.3% | 63.8% | 69.4% | 58.2% | 53.5% | 56.1% | 62.7% | 59.3% | 61.4% | 61.4% |
| R&D | 2.7M | 2.9M | 2.9M | 9.1M | 15M | 20M | 16M | 11M | 22M | 34M | 45M | 52M | 52M |
| SG&A | 18M | 21M | 28M | 32M | 44M | 56M | 65M | 84M | 124M | 162M | 250M | 318M | 318M |
| EBIT | 20M | 33M | 20M | 28M | 35M | 16M | -16M | -40M | -35M | 47M | N/A | 111M | 111M |
| Op. Margin | 35.7% | 42.8% | 15.6% | 16.0% | 17.5% | 7.9% | -7.7% | -18.4% | -11.2% | 9.6% | N/A | 12.6% | 12.6% |
| Net Income | 29M | 15M | 3.9M | -1.1M | 15M | 6.1M | -23M | -43M | -50M | 17M | -20M | 77M | 77M |
| Net Margin | 51.1% | 20.0% | 3.0% | -0.6% | 7.6% | 3.0% | -10.8% | -19.8% | -15.7% | 3.5% | -3.3% | 8.7% | 8.7% |
| Non-Recurring | 0 | -40K | 0 | 0 | 0 | 0 | 0 | 0 | 5.7M | 1.1M | 5.3M | -382K | -382K |
| Returns on Capital | |||||||||||||
| ROIC | 37.3% | 23.6% | 6.0% | 6.4% | 11.7% | 5.8% | -6.0% | -8.7% | -8.1% | 8.4% | N/A | 15.8% | 15.7% |
| ROE | 31.6% | 10.2% | 2.4% | -0.6% | 8.2% | 3.0% | -11.0% | -16.2% | -15.3% | 4.6% | -4.8% | 16.3% | 14.3% |
| ROA | 18.8% | 5.6% | 1.3% | -0.3% | 3.6% | 1.4% | -4.9% | -6.9% | -6.5% | 2.1% | -1.8% | 5.7% | 5.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 22M | 17M | 27M | 39M | 67M | 46M | 15M | 3.3M | -31M | 119M | 64M | 185M | 185M |
| Free Cash Flow | 21M | 15M | 23M | 29M | 61M | 39M | 9.1M | 765K | -40M | 110M | 48M | 171M | 171M |
| Owner Earnings | 15M | 6.5M | -938K | 5.4M | 27M | -8.2M | -42M | -54M | -185M | 39M | -33M | 56M | 56M |
| CapEx | 1.1M | 2.2M | 4.6M | 10M | 5.7M | 6.6M | 6.1M | 2.6M | 8.9M | 8.9M | 16M | 14M | 14M |
| Maint. CapEx | 3.9M | 6.9M | 22M | 28M | 34M | 45M | 45M | 47M | 139M | 60M | 68M | 91M | 91M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 3.9M | 6.9M | 22M | 28M | 34M | 45M | 45M | 47M | 139M | 60M | 68M | 91M | 91M |
| CapEx/OCF | 5.1% | 12.6% | 16.6% | 26.3% | 8.6% | 14.5% | 40.2% | 77.0% | N/A | 7.5% | 25.4% | 7.5% | 7.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 190K | 1.6M | 1.6M | 1.6M | 1.2M | 1.2M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.3% | 0.2% | 0.1% | 0.1% | 0.1% |
| Share Buybacks | 0 | 0 | 2.5M | 0 | 0 | 1.0M | 1.5M | 890K | 2.0M | 5.0M | 11M | 12M | 12M |
| Buyback Yield | N/A | N/A | 0.4% | N/A | N/A | N/A | 0.5% | 0.1% | 0.3% | 0.5% | 1.0% | 0.6% | 0.7% |
| Stock-Based Comp | 3.4M | 3.9M | 6.1M | 6.1M | 6.8M | 9.2M | 13M | 10M | 15M | 21M | 29M | 38M | 38M |
| Debt Repayment | 0 | 0 | 294K | 2.7M | 26M | 119M | 8.0M | 0 | 3.0M | 3.0M | 17M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -62M | -41M | 116M | 67M | 28M | 124M | 178M | 188M | 240M | 70M | 180M | 35M | 35M |
| Cash & Equiv. | 169M | 155M | 27M | 31M | 43M | 62M | 7.9M | 100M | 48M | 221M | 145M | 286M | 286M |
| Long-Term Debt | 107M | 113M | 0 | 70M | 67M | 176M | 172M | 287M | 286M | 285M | 309M | 292M | 292M |
| Debt/Equity | 0.76 | 0.71 | 0.85 | 0.56 | 0.36 | 0.88 | 0.95 | 0.86 | 0.92 | 0.67 | 0.80 | 0.59 | 0.59 |
| Interest Coverage | 24.7 | 2.9 | 1.8 | 2.5 | 2.4 | 1.2 | -1.7 | -3.3 | -1.2 | 1.3 | N/A | 3.4 | 3.4 |
| Equity | 140M | 160M | 170M | 175M | 197M | 213M | 196M | 334M | 314M | 433M | 404M | 541M | 541M |
| Total Assets | 260M | 285M | 323M | 412M | 431M | 457M | 461M | 772M | 760M | 904M | 1.3B | 1.4B | 1.4B |
| Total Liabilities | 120M | 125M | 153M | 237M | 233M | 244M | 265M | 413M | 422M | 447M | 856M | 900M | 900M |
| Intangibles | 42M | 66M | 176M | 230M | 202M | 180M | 189M | 294M | 252M | 209M | 542M | 480M | 480M |
| Retained Earnings | -20M | -4.3M | -2.9M | -4.0M | 11M | 18M | -5.0M | -48M | -97M | -80M | -100M | -23M | -23M |
| Working Capital | 182M | 181M | 71M | 92M | -13M | 126M | 92M | 234M | 245M | 374M | 334M | 475M | 475M |
| Current Assets | 195M | 193M | 103M | 132M | 153M | 188M | 170M | 322M | 344M | 520M | 528M | 753M | 753M |
| Current Liabilities | 13M | 12M | 32M | 39M | 166M | 62M | 79M | 88M | 99M | 145M | 194M | 278M | 278M |
| Per Share Data | |||||||||||||
| EPS | 2.59 | 1.32 | 0.34 | -0.09 | 1.30 | 0.50 | -1.88 | -3.40 | -3.05 | 0.85 | -1.04 | 3.32 | 3.32 |
| Owner EPS | 1.33 | 0.56 | -0.08 | 0.45 | 2.25 | -0.67 | -3.53 | -4.32 | -11.37 | 1.91 | -1.71 | 2.40 | 2.40 |
| Book Value | 12.66 | 13.82 | 14.74 | 14.62 | 16.72 | 17.46 | 16.32 | 26.53 | 19.32 | 21.44 | 20.84 | 23.26 | 23.26 |
| Cash Flow/Share | 2.00 | 1.49 | 2.39 | 3.30 | 5.68 | 3.74 | 1.27 | 0.26 | -1.92 | 5.89 | 3.30 | 7.97 | 7.25 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.02 | 0.10 | 0.08 | 0.08 | 0.05 | 0.05 |
| Shares Out. | 11.0M | 11.6M | 11.5M | 12.0M | 11.8M | 12.2M | 12.0M | 12.6M | 16.2M | 20.2M | 19.4M | 23.2M | 23.2M |
| Valuation | |||||||||||||
| P/E Ratio | 21.1 | 35.4 | 178.3 | N/A | 33.7 | 122.7 | N/A | N/A | N/A | 64.5 | N/A | 24.8 | 23.4 |
| P/FCF | 28.8 | 35.9 | 30.5 | 26.2 | 8.4 | 19.2 | 36.8 | 798.6 | N/A | 10.0 | 22.1 | 11.2 | 10.5 |
| EV/EBIT | 18.7 | 10.6 | 32.2 | 27.4 | 14.4 | 50.1 | N/A | N/A | N/A | 20.2 | N/A | 15.0 | 16.6 |
| Price/Book | 4.3 | 3.4 | 4.1 | 4.4 | 2.7 | 3.5 | 1.7 | 1.8 | 2.0 | 2.6 | 2.6 | 3.5 | 3.3 |
| Price/Sales | 6.5 | 8.4 | 4.6 | 3.6 | 3.5 | 4.0 | 2.1 | 2.0 | 1.8 | 2.1 | 1.9 | 1.9 | 2.0 |
| FCF Yield | 3.5% | 2.8% | 3.3% | 3.8% | 11.7% | 5.2% | 2.7% | 0.1% | -6.3% | 10.0% | 4.5% | 8.9% | 9.5% |
| Market Cap | 605M | 544M | 702M | 760M | 523M | 747M | 336M | 611M | 636M | 1.1B | 1.1B | 1.9B | 1.8B |
| Avg. Price | 32.71 | 55.08 | 51.60 | 53.60 | 59.95 | 67.71 | 37.03 | 34.65 | 34.64 | 49.73 | 60.94 | 73.29 | 77.65 |
| Year-End Price | 54.54 | 46.72 | 60.63 | 63.61 | 43.87 | 61.33 | 28.04 | 48.54 | 39.18 | 54.82 | 54.41 | 82.41 | 77.65 |
ANI PHARMACEUTICALS INC passes 3 of 9 quality checks, indicating weak fundamentals.
ANI PHARMACEUTICALS INC trades at 23.4x trailing earnings, compared to its 15-year median P/E of 33.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 10.2x vs a median of 20.6x. The company's 5-year average ROIC is 1.9% with a gross margin of 58.6%. Total shareholder yield (buybacks) is 0.7%. At current prices, the estimated annualized return to fair value is +11.3%.
ANI PHARMACEUTICALS INC (ANIP) has a net profit margin of 8.7%. This is a modest margin.
ANI PHARMACEUTICALS INC (ANIP) generated $171 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ANI PHARMACEUTICALS INC (ANIP) has a debt-to-equity ratio of 0.59. This indicates moderate leverage.
ANI PHARMACEUTICALS INC (ANIP) reported earnings per share (EPS) of $3.32 in its most recent fiscal year.
ANI PHARMACEUTICALS INC (ANIP) has a return on equity (ROE) of 16.3%. This indicates the company generates strong returns for shareholders.
ANI PHARMACEUTICALS INC (ANIP) has a 5-year average gross margin of 58.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for ANI PHARMACEUTICALS INC (ANIP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ANI PHARMACEUTICALS INC (ANIP) has a book value per share of $23.26, based on its most recent annual SEC filing.