| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | 1 | 1 | — | — | 1 | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 68.74 | 55.63 | 57.48 | 38.41 |
| Receivables | 26.36 | 23.59 | 23.69 | 29.06 |
| Inventory | 24.43 | 23.81 | 18.79 | 28.57 |
| Other | 36.31 | 5.13 | — | — |
| 163.31 | 113.65 | 103.36 | 99.19 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 6.19 | 5.62 | 6.04 | 6.24 |
| ST’ Debt | — | — | — | — |
| Other | 10.80 | 4.12 | — | — |
| 31.06 | 23.31 | 21.91 | 22.15 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 29.61 | 32.61 | — | — |
—
|
| ’25 | 26.17 | 28.22 | 27.82 | 30.62 |
112.82
|
| ’24 | 29.02 | 30.72 | 29.56 | 30.60 |
119.91
|
| ’23 | 37.92 | 44.30 | 41.47 | (2.90) |
120.79
|
| ’22 | 36.69 | 39.66 | 40.26 | (2.79) |
113.83
|
| ’21 | 34.29 | 38.15 | 39.54 | 35.82 |
147.79
|
| ’20 | 35.40 | 30.68 | 31.69 | 32.69 |
130.46
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (4.85) | (0.68) | — | — |
—
|
| ’25 | (0.13) | (0.19) | 6.87 | 4.64 |
11.19
|
| ’24 | (0.13) | (1.07) | 5.02 | 1.58 |
5.40
|
| ’23 | (3.62) | (8.29) | 6.49 | 3.64 |
(1.79)
|
| ’22 | (1.87) | 3.09 | 2.71 | 0.48 |
4.41
|
| ’21 | (2.43) | 4.29 | 2.06 | 4.47 |
8.40
|
| ’20 | 1.05 | 3.57 | 5.87 | 2.59 |
13.07
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (6.28) | (2.13) | — | — |
—
|
| ’25 | 1.54 | (5.55) | 4.98 | 3.99 |
4.96
|
| ’24 | (1.93) | (4.47) | 3.20 | 0.28 |
(2.33)
|
| ’23 | (5.01) | (9.75) | 5.74 | 1.80 |
(7.21)
|
| ’22 | (3.19) | 1.15 | 1.02 | (2.05) |
(3.08)
|
| ’21 | (2.85) | 1.98 | 0.78 | 3.35 |
3.25
|
| ’20 | 0.32 | 3.38 | 5.59 | 2.14 |
11.44
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.37) | 0.24 | — | — |
—
|
| ’25 | (0.34) | (0.28) | (0.16) | 0.02 |
(0.76)
|
| ’24 | (0.31) | (0.01) | (2.03) | (1.50) |
(3.83)
|
| ’23 | (0.71) | (0.19) | (0.45) | (4.30) |
(5.64)
|
| ’22 | (0.20) | (0.20) | (0.29) | (0.34) |
(1.02)
|
| ’21 | 0.20 | 0.45 | 0.04 | (0.40) |
0.28
|
| ’20 | 0.24 | (0.54) | (0.45) | (1.10) |
(1.69)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 19.95 | 16.54 | 15.83 | 7.87 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 36.85 | 32.33 | 29.12 | 18.37 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 345 | 357 | 288 | 235 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.33 | 0.34 | 0.42 | 0.48 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 113.83 | 120.79 | 119.91 | 112.82 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 64.33% | 68.33% | 63.38% | 56.56% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.32 | 3.16 | (2.76) | (9.31) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.80% | 2.61% | (2.31%) | (8.25%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (14.86) | (82.67) | (56.38) | (10.88) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.49 | 76.41 | 10.58 | 5.73 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.82 | 8.24 | 8.15 | 7.87 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | (1.02) | (5.64) | (3.83) | (0.76) | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.30 | (0.12) | 0.37 | 0.78 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.51) | (0.37) | (0.53) | (0.43) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.21) | (0.49) | (0.16) | 0.35 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.61 | 14.48 | 10.46 | 10.01 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.56 | 14.66 | 14.72 | 14.34 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.77 | 2.75 | 2.02 | 1.22 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.50 | 1.56 | 1.57 | 0.96 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.28 | 2.42 | 1.80 | 0.97 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (121.49) | (40.56) | (92.66) | 22.09 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.41 | (1.79) | 5.40 | 11.19 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.49) | (5.43) | (7.73) | (6.23) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.08) | (7.21) | (2.33) | 4.96 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 141.63 | 132.25 | 90.35 | 81.45 | — | — | — |
Working Cap'
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.89 | — | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (55.44) | (68.74) | (55.63) | (57.48) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 285.56 | 212.27 | 153.99 | 143.47 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.27%) | (26.68%) | (23.82%) | (5.54%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.00% | 0.37% | (3.24%) | (8.03%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (5.19%) | (33.21%) | (30.79%) | (7.32%) | ‡‡‡‡‡ | — | — |
ROE
|
Anika Therapeutics Inc. (ANIK), a specialist in hyaluronic acid-based orthobiologics for osteoarthritis, regenerative medicine, and sports injuries, showcases resilience amid medtech headwinds. After peaking at $148 million in revenue in 2021, sales stabilized around $120 million by 2024, with gross margins rebounding to 63.4% (nearing 68%) despite COVID disruptions and a $80 million goodwill impairment that drove net losses to $56 million. Fundamentals signal a turnaround, bolstered by a cash-rich balance sheet (net cash over $55 million), deleveraged position, and emerging positive free cash flow of $0.37 per share.
Analyst forecasts predict a modest 2025 revenue dip to $111 million before rebounding to $122 million by 2027, with EBT swinging to $6 million in 2025 and EPS narrowing losses 67% cumulatively. Trading at an EV/Sales of 1.8x—well below medtech peers at 4-6x—the stock implies 57% upside to consensus targets, fueled by operational streamlining (revenue per employee up to $416,000) and insider stability with no recent transactions.
Macro tailwinds from an aging population and 7% ortho market CAGR amplify ANIK’s disruptive edge in non-opioid injectables like Monovisc and CINGAL, positioning it for a profitability inflection and multi-year re-rating despite competition risks. With cleaner books and proven moats in cross-linked HA technology, ANIK offers compelling value for growth investors eyeing the rebound.
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