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Anika Therapeutics Inc.

ANIK Healthcare Drug Manufacturers Specialty & Generic

Anika Therapeutics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $112.8 million, down 5.91% from fiscal 2024. In the quarter to June 2026, revenue grew 15.6%, EPS grew 189.3% and free cash flow grew 61.6%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

19.98 0.71 −3.43%
Market cap
$276.9M
P/E
0.0×
Fwd P/E
−20.0×
Dividend yield
—
F-score
6/9
Altman Z
3.13
Beneish M
−2.84
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.26
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — 1 1 — — 1 — —
Sell — — — — — — — — — — — —
Insider Ownership 5.93%

Capital & Financial Ratios $m

Market Cap 276.90
Revenue 120.65
Net Income (3.78)
Free Cash Flow 0.56
Net Debt (38.41)
Current Ratio 4.48 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (20.00) (negative: loss-making)
P/S ratio 2.21
P/B ratio 1.94
Past 5Y EPS Growth —
This Y EPS Growth 854.55% (at or above 15%: strong)
Next Y EPS Growth (9.52%) (below 0%: weak)
Next Y revenue growth 7.78%
Next 5Y EPS Growth 118.66% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.1×, against a ten-year median of 3.3×; over the ten years it ranged from 0.8× in 2025 to 7.5× in 2019.
P/S against its own 10 years 18.58%
10-year low 10-year high
P/B against its own 10 years 53.67%
10-year low 10-year high
EV/Sales against its own 10 years 23.33%
10-year low 10-year high
EV/FCF against its own 10 years 95.08%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 69 56 57 38
Receivables 26 24 24 29
Inventory 24 24 19 29
Other 36 5 — —
163 114 103 99
2023 2024 2025 Q'26
Payables 6 6 6 6
ST’ Debt — — — —
Other 11 4 — —
31 23 22 22

Compound Annual Growth %

10y 5y 3y
Sales 1.95% (2.86%) (0.30%)
Cash Flow (11.94%) (3.05%) 36.40%
Earnings 0.00% 0.00% 0.00%
Book Value (3.78%) (12.04%) (20.50%)

Revenue $m

Mar Jun Sep Dec Year
’26 30 33 — — —
’25 26 28 28 31 113
’24 29 31 30 31 120
’23 38 44 41 (3) 121
’22 37 40 40 (3) 114
’21 34 38 40 36 148
’20 35 31 32 33 130
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) (1) — — —
’25 0 0 7 5 11
’24 0 (1) 5 2 5
’23 (4) (8) 6 4 (2)
’22 (2) 3 3 0 4
’21 (2) 4 2 4 8
’20 1 4 6 3 13
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (2) — — —
’25 2 (6) 5 4 5
’24 (2) (4) 4 0 (2)
’23 (5) (10) 6 2 (7)
’22 (3) 1 1 (2) (3)
’21 (3) 2 1 3 3
’20 0 3 6 2 11
Fiscal quarters ending in the months shown.

EPS $

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 0.40 (0.54) (0.45) (1.10) (1.69)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 35.07 41.64 28.54 29.01 22.01 32.30 19.95 16.54 15.83 7.87

Analyst estimates 2026–2028

Powerpack
High 54.96 60.29 69.81 75.72 55.10 48.37 36.85 32.33 29.12 18.37
People
People Employees 122 123 133 154 277 297 345 357 288 235
Revenue/emp, $m 0.85 0.92 0.79 0.74 0.47 0.50 0.33 0.34 0.42 0.48
Income, $m
Income, $m Revenue 103 113 106 115 130 148 114 121 120 113
Gross margin, % 76.76 75.87 70.37 74.92 52.91 56.12 64.33 68.33 63.38 56.56
EBT 51 46 23 36 (29) 2 4 3 (3) (9)
EBT margin, % 49.21 40.74 21.99 31.52 (21.94) 1.64 3.80 2.61 (2.31) (8.25)
Net income 33 32 19 27 (24) 4 (15) (83) (56) (11)
Depreciation 4 4 6 6 67 21 14 76 11 6
Per share, $
Per share, $ Revenue 7.04 7.78 7.31 8.12 9.17 10.26 7.82 8.24 8.15 7.87
Earnings 2.22 2.18 1.30 1.93 (1.69) 0.29 (1.02) (5.64) (3.83) (0.76)
Cash flow 1.67 2.80 2.42 2.62 0.92 0.58 0.30 (0.12) 0.37 0.78
Capex (0.95) (0.62) (0.32) (0.20) (0.11) (0.36) (0.51) (0.37) (0.53) (0.43)
Free cash flow 0.71 2.18 2.10 2.42 0.80 0.23 (0.21) (0.49) (0.16) 0.35
Book value 15.17 18.08 18.25 20.42 19.15 19.94 19.61 14.48 10.46 10.01
Shares, m 15 15 14 14 14 14 15 15 15 14
Valuation, ×
Valuation, × P/E 22.57 25.19 25.85 26.87 0.00 123.55 0.00 0.00 0.00 0.00
P/S 7.12 7.06 4.60 6.39 4.93 3.49 3.77 2.75 2.02 1.22
P/B 3.30 3.04 1.84 2.54 2.36 1.80 1.50 1.56 1.57 0.96
EV/Sales 5.91 5.67 3.09 4.96 4.37 3.02 3.23 2.39 1.77 0.93
EV/FCF 58.56 20.20 10.79 16.64 49.87 137.25 (119.57) (39.97) (90.81) 21.22
Cash, $m
Cash, $m Operating cash flow 24 41 35 37 13 8 4 (2) 5 11
Capex (14) (9) (5) (3) (2) (5) (7) (5) (8) (6)
Free cash flow 10 32 30 34 11 3 (3) (7) (2) 5
Balance, $m
Balance, $m Working capital 162 193 192 218 141 139 142 132 90 81
Total debt — — — 23 22 21 31 — — —
Net debt (125) (157) (159) (185) (98) (94) (86) (69) (56) (57)
Shareholders’ equity 223 263 264 288 272 287 286 212 154 143
Returns, %
Returns, % ROA 13.68 12.17 6.67 8.92 (6.89) 1.16 (4.27) (26.68) (23.82) (5.54)
ROIC 32.27 26.90 13.00 20.69 (10.17) 0.85 1.15 0.37 (3.24) (8.03)
ROE 15.01 13.09 7.10 9.85 (8.55) 1.48 (5.19) (33.21) (30.79) (7.32)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Anika Therapeutics Inc. vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TKNO Alpha Teknova, Inc. $408.0M — (loss-making) — (loss-making) +18.45% (above 0%: growing) n/m +74.18% (above 0%: growing) 40.09% (23.72%) Compare
EBS Emergent Biosolutions Inc. $368.1M — (loss-making) — (loss-making) +66.29% (above 0%: growing) n/m −47.68% (below 0%: shrinking) 58.56% (53.39%) Compare
CGC Canopy Growth Corporation $311.2M — (loss-making) — (loss-making) +12.41% (above 0%: growing) n/m −117.60% (below 0%: shrinking) 27.40% (27.24%) Compare
ANIK Anika Therapeutics Inc. $276.9M — (loss-making) — (loss-making) +15.56% (above 0%: growing) n/m +61.58% (above 0%: growing) 65.15% 9.06%
ACB Aurora Cannabis Inc. $265.8M — (loss-making) — (loss-making) −31.15% (below 0%: shrinking) n/m −293.56% (below 0%: shrinking) 52.73% (12.92%) Compare
BIOA BioAge Labs, Inc. $245.6M — (loss-making) — (loss-making) +1.62% (above 0%: growing) n/m +2.68% (above 0%: growing) 100.00% (1,196.78%) Compare
LFCR Lifecore Biomedical, Inc. $244.1M — (loss-making) — (loss-making) −6.25% (below 0%: shrinking) n/m −117.03% (below 0%: shrinking) 35.34% 7.51% Compare
SIGA Siga Technologies Inc. $229.2M — (loss-making) 28.7× −49.45% (below 0%: shrinking) −66.00% (below 0%: shrinking) −75.95% (below 0%: shrinking) 57.17% 33.91% Compare
AKBA Akebia Therapeutics, Inc. $192.7M — (loss-making) — (loss-making) −21.36% (below 0%: shrinking) n/m −88.99% (below 0%: shrinking) 78.78% (12.88%) Compare
Median of peers $255.7M — — −2.31% — −82.47% 54.95% (18.32%)

All 86 Drug Manufacturers Specialty & Generic stocks →

Anika Therapeutics Inc. (ANIK) key facts

  • Concern: Anika Therapeutics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $112.8 million, down 5.91% from fiscal 2024.
  • Anika Therapeutics Inc. (ANIK) is a Drug Manufacturers Specialty & Generic company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, ANIK traded at $19.98, a market capitalization of $276.9 million.
  • Return on equity was −7.32% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.13 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Anika Therapeutics Inc. (ANIK) Latest News

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stockrow.com/ANIK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com