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ANI Pharmaceuticals, Inc.

ANIP Healthcare Drug Manufacturers Specialty & Generic

ANI Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $883.4 million, up 43.8% from fiscal 2024.

Revenue
+27.6%
EPS
+29.4%
Free cash flow
+85.5%
Total debt
−96.2%

Quarter to September 2026, against a year earlier

69.03 2.62 −3.66%
Market cap
$1.6B
P/E
13.3×
Fwd P/E
14.3×
Dividend yield
—
F-score
7/9
Altman Z
2.30
Beneish M
−2.62
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 13.54
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 1 4 9 1 5 4 3 4 4 3 —
Insider Ownership 4.87%

Capital & Financial Ratios $m

Size
Market Cap 1,600.00
Revenue ttm 1,041.34
Net income ttm 116.84
Free cash flow ttm 205.32
Net debt Q (412.99)
Valuation
P/E 13.33
Forward P/E 14.30
Price / sales 1.41
Forward P/S Powerpack
Price / FCF 7.33
Price / book 2.30
Financial health
Current ratio Q 2.75 (at or above 1.5: strong)
Debt / equity Q 0.04 (at or below 0.5: strong)
Interest coverage Q 17.14
Growth
Revenue growth Q +27.64% (above 0%: growing)
Operating income growth Q +44.52% (above 0%: growing)
EPS, this year +18.38% (at or above 15%: strong)
EPS, next year A +8.62%
Revenue, next year A +24.86% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +13.28%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 3.0×; over the ten years it ranged from 1.6× in 2026 to 8.8× in 2016.
P/E against its own 10 years 0.07%
10-year low 10-year high
P/S against its own 10 years 0.04%
10-year low 10-year high
P/B against its own 10 years 28.53%
10-year low 10-year high
EV/Sales against its own 10 years 0.04%
10-year low 10-year high
EV/FCF against its own 10 years 0.08%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 221 151 295 436
Receivables 162 222 281 304
Inventory 111 137 143 136
Other 8 — — —
520 528 753 903
2023 2024 2025 Q'26
Payables 37 46 63 74
ST’ Debt 1 9 17 23
Other 12 0 0 —
145 194 278 329

Compound Annual Growth %

10y 5y 3y
Sales 27.75% 33.48% 40.81%
Cash Flow 26.78% 64.74% 0.00%
Earnings 17.51% 0.00% 0.00%
Book Value 12.94% 22.54% 16.89%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 2.01 Actual 2.21

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.74 2.04 Beat by 0.30
Q4 FY25 1.99 2.33 Beat by 0.34
Q1 FY26 1.28 2.05 Beat by 0.77
Q2 FY26 2.01 2.21 Beat by 0.20
Q3 FY26 2.17 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.28 1.05 1.51 — —
’25 0.69 0.36 1.13 1.18 3.32
’24 0.82 (0.14) (1.27) (0.55) (1.04)
’23 0.06 0.29 0.45 0.04 0.85
’22 (1.27) (0.94) (0.55) (0.28) (3.05)
’21 0.01 (1.17) (0.37) (1.72) (3.40)
’20 (0.59) (1.03) 0.04 (0.30) (1.88)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 237 266 291 — —
’25 197 211 228 247 883
’24 137 138 148 191 614
’23 107 117 132 132 487
’22 64 74 84 94 316
’21 55 49 52 61 216
’20 50 48 53 57 208
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 58 57 84 — —
’25 35 76 44 30 185
’24 18 17 12 16 64
’23 21 21 32 45 119
’22 (19) (11) 4 (4) (31)
’21 21 0 (5) (12) 3
’20 2 21 (2) (6) 15
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 47 54 70 — —
’25 15 69 38 29 151
’24 27 13 7 13 61
’23 19 14 28 40 100
’22 (21) (12) (6) (8) (47)
’21 20 (22) (6) (10) (18)
’20 (56) 18 (7) (8) (53)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 129 177 202 207 208 216 316 487 614 883 1,041 +23.9% 1,103 1,222 1,323 +14.4%
Gross margin, % 62.07 55.31 63.77 69.42 58.19 53.45 56.13 62.71 59.27 61.36 61.06 (0.7) pt
EBT 9 16 20 3 (26) (56) (63) 20 (22) 96 158 +30.6%
EBT margin, % 6.75 9.24 9.95 1.53 (12.45) (25.94) (19.81) 4.08 (3.62) 10.84 15.16 +4.1 pt
Net income 4 (1) 15 6 (23) (43) (48) 19 (19) 78 117 +39.4%
Per share, $
Per share, $ Revenue 11.24 15.32 17.26 17.44 17.43 17.16 19.46 27.04 31.80 44.05 49.09 +16.4%
Earnings 0.34 (0.09) 1.31 0.51 (1.88) (3.40) (3.05) 0.86 (1.04) 3.50 5.18 +29.6%
Cash flow 2.40 3.41 5.74 3.85 1.28 0.26 (1.92) 6.61 3.31 9.24 10.81 +16.2%
Capex (13.02) (9.35) (0.93) (2.33) (5.71) (1.67) (0.97) (1.03) (0.18) (1.71) (1.13) (20.2%)
Free cash flow (10.62) (5.94) 4.81 1.53 (4.43) (1.40) (2.88) 5.58 3.14 7.53 9.68 n/m
Book value 14.82 15.13 16.89 17.97 16.36 28.48 20.82 25.42 22.18 26.96 30.04 +6.9%
Shares, m 11 12 12 12 12 13 16 18 19 20 21 +6.4%
Valuation, ×
Valuation, × P/E 175.06 0.00 34.11 120.92 0.00 0.00 0.00 66.50 0.00 22.55 13.33 41.9
P/S 5.45 4.49 2.61 3.54 1.67 2.69 2.06 2.11 1.74 1.79 1.41 2.8
P/B 4.13 4.54 2.67 3.43 1.78 1.74 2.08 2.38 2.65 2.93 2.30 2.8
EV/Sales 6.18 5.45 2.74 4.13 2.52 3.55 2.80 2.25 2.51 2.16 1.58 3.4
EV/FCF (6.53) (14.06) 9.85 47.21 (9.90) (43.44) (18.85) 10.89 26.53 12.63 8.21 1.4
Cash, $m
Cash, $m Operating cash flow 27 39 67 46 15 3 (31) 119 64 185 229 +23.6%
Capex (149) (108) (11) (28) (68) (21) (16) (19) (3) (34) (24) (15.1%)
Free cash flow (122) (69) 56 18 (53) (18) (47) 100 61 151 205 n/m
Balance, $m
Balance, $m Working capital 71 92 (13) 126 92 234 245 374 334 475 574 +23.5%
Net debt 93 170 28 123 178 187 233 65 473 322 (413) +14.8%
Shareholders’ equity 170 175 197 213 196 359 339 458 429 541 637 +13.7%
Returns, %
Returns, % ROA 1.29 (0.29) 3.64 1.37 (4.91) (6.94) (6.47) 2.06 (1.84) 5.66 7.85 +4.4 pt
ROIC 4.77 5.13 9.83 3.04 (2.68) (4.56) (3.86) 5.62 0.04 8.05 46.43 +3.3 pt
ROE 2.37 (0.62) 8.25 2.97 (11.04) (16.16) (15.29) 4.60 (4.82) 16.34 20.45 +14.0 pt
People
People Employees 143 173 299 338 369 601 600 642 897 970 — +23.7%
Revenue/emp, $m 0.90 1.02 0.67 0.61 0.56 0.36 0.53 0.76 0.68 0.91 — +0.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

ANI Pharmaceuticals, 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
XERS Xeris Biopharma Holdings, Inc. $2.4B — (loss-making) — (loss-making) +44.16% (above 0%: growing) +1,478.95% (above 0%: growing) +93.18% (above 0%: growing) 88.41% 15.78% Compare
PRGO Perrigo Company plc $2.2B — (loss-making) — (loss-making) −5.24% (below 0%: shrinking) n/m +138.48% (above 0%: growing) 32.45% 2.34% Compare
BCRX BioCryst Pharmaceuticals, Inc. $2.0B — (loss-making) — (loss-making) +13.11% (above 0%: growing) +150.00% (above 0%: growing) −18.69% (below 0%: shrinking) 99.13% 29.58% Compare
ALVO Alvotech $1.8B — (loss-making) 111× +2,310.95% (above 0%: growing) −99.51% (below 0%: shrinking) −496.58% (below 0%: shrinking) 56.47% 9.14% Compare
ANIP ANI Pharmaceuticals, Inc. $1.6B 13.3× 14.3× +27.64% (above 0%: growing) +29.41% (above 0%: growing) +85.49% (above 0%: growing) 61.64% 18.01%
PCRX Pacira BioSciences, Inc. $1.5B 38.4× 56.6× −1.59% (below 0%: shrinking) +500.00% (above 0%: growing) −18.47% (below 0%: shrinking) 0.00% 12.61% Compare
PAHC Phibro Animal Health Corporation $1.4B 14.0× 12.6× +6.29% (above 0%: growing) +12.31% (above 0%: growing) +262.08% (above 0%: growing) 33.23% 12.83% Compare
CRON Cronos Group Inc. $1.4B 21.9× 19.5× +74.61% (above 0%: growing) −42.86% (below 0%: shrinking) +179.64% (above 0%: growing) 50.88% 14.23% Compare
ETON Eton Pharmaceuticals, Inc. $1.4B 26.8× 48.0× +157.91% (above 0%: growing) n/m +172.55% (above 0%: growing) 76.48% 39.73% Compare
Median of peers $1.6B 24.3× 48.0× +28.64% +81.16% +115.83% 53.68% 13.53%

All 84 Drug Manufacturers Specialty & Generic stocks →

ANI Pharmaceuticals, Inc. (ANIP) Latest News

5 Nov

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · GlobeNewswire
Impact 4 · · GlobeNewswire
Impact 4 · · GlobeNewswire
Impact 3 · · StockStory
Impact 3 · · Associated Press

23 Oct

Impact 3 · · GlobeNewswire

19 Oct

Impact 4 · · GlobeNewswire

13 Oct

Impact 3 · · Zacks

12 Oct

Impact 4 · · GlobeNewswire

7 Oct

Impact 3 · · Simply Wall St.

1 Oct

Impact 3 ·

30 Sep

Impact 3 · · GlobeNewswire

28 Sep

Impact 3 · · Zacks

23 Sep

Impact 4 · · GlobeNewswire

27 Aug

Impact 3 ·

16 Aug

Impact 3 ·

14 Aug

Impact 3 ·
Impact 3 ·
Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

10 Aug

Impact 3 ·

8 Aug

Impact 4 ·

7 Aug

Impact 4 ·
Impact 4 · · InvestorsHub
Impact 3 · · Moby transcript
Impact 3 · · MarketBeat
Impact 3 ·
stockrow.com/ANIP · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com