Saturday 17 October 2026 Export ANIP’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 25.9%, EPS grew 194.6%, free cash flow fell 22.2% and total debt fell 1.78%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.

72.08 0.20 −0.28%

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Market cap: $1.7B
P/E: 14.9×
Fwd P/E: 14.5×
Dividend yield: —
F-score: 7/9
Altman Z: 2.30
Beneish M: −2.62
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 sells 15.05

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	2	1	4	9	1	5	4	3	4	4	1

Insider Ownership 4.62%

Capital & Financial Ratios $m

Market Cap 1,660.00

Revenue 978.38

Net Income 108.31

Free Cash Flow 167.52

Net Debt 234.62

Current Ratio 2.91

Debt/Equity 1.02

P/E ratio 14.92

Fwd P/E 14.50

P/S ratio 1.56

P/B ratio 2.55

Past 5Y EPS Growth —

This Y EPS Growth 17.41%

Next Y EPS Growth 9.74%

Next Y revenue growth 24.86%

Next 5Y EPS Growth 13.82%

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

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 0.96%

10-year low 10-year high

P/S against its own 10 years 0.85%

10-year low 10-year high

P/B against its own 10 years 36.27%

10-year low 10-year high

EV/Sales against its own 10 years 0.52%

10-year low 10-year high

EV/FCF against its own 10 years 2.60%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
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	221	151	295	376
Receivables	162	222	281	274
Inventory	111	137	143	143
Other	8	—	—	—
	520	528	753	825

	2023	2024	2025	Q'26
Payables	37	46	63	74
ST’ Debt	1	9	17	21
Other	12	0	0	—
	145	194	278	284

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%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	237	266	—	—	—
’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	—	—	—
’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	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.28	1.05	—	—	—
’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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	26.80	42.23	36.92	44.40	23.55	26.10	22.31	36.54	52.50	52.74	Analyst estimates 2026–2028 Powerpack
	High	70.92	74.70	73.49	86.96	68.19	60.23	48.26	65.89	70.81	99.50
People
People	Employees	143	173	299	338	369	601	600	642	897	970
	Revenue/emp, $m	0.90	1.02	0.67	0.61	0.56	0.36	0.53	0.76	0.68	0.91
Income, $m
Income, $m	Revenue	129	177	202	207	208	216	316	487	614	883
	Gross margin, %	62.07	55.31	63.77	69.42	58.19	53.45	56.13	62.71	59.27	61.36
	EBT	9	16	20	3	(26)	(56)	(63)	20	(22)	96
	EBT margin, %	6.75	9.24	9.95	1.53	(12.45)	(25.94)	(19.81)	4.08	(3.62)	10.84
	Net income	4	(1)	15	6	(23)	(43)	(48)	19	(19)	78
	Depreciation	22	28	34	45	45	47	60	60	81	91
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
	Earnings	0.34	(0.09)	1.31	0.51	(1.88)	(3.40)	(3.05)	0.86	(1.04)	3.50
	Cash flow	2.40	3.41	5.74	3.85	1.28	0.26	(1.92)	6.61	3.31	9.24
	Capex	(13.02)	(9.35)	(0.93)	(2.33)	(5.71)	(1.67)	(0.97)	(1.03)	(0.18)	(1.71)
	Free cash flow	(10.62)	(5.94)	4.81	1.53	(4.43)	(1.40)	(2.88)	5.58	3.14	7.53
	Book value	14.82	15.13	16.89	17.97	16.36	28.48	20.82	25.42	22.18	26.96
	Shares, m	11	12	12	12	12	13	16	18	19	20
Valuation, ×
Valuation, ×	P/E	175.06	0.00	34.11	120.92	0.00	0.00	0.00	66.50	0.00	22.55
	P/S	5.45	4.49	2.61	3.54	1.67	2.69	2.06	2.11	1.74	1.79
	P/B	4.13	4.54	2.67	3.43	1.78	1.74	2.08	2.38	2.65	2.93
	EV/Sales	6.18	5.45	2.74	4.13	2.52	3.55	2.80	2.25	2.51	2.16
	EV/FCF	(6.53)	(14.06)	9.85	47.21	(9.90)	(43.44)	(18.85)	10.89	26.53	12.63
Cash, $m
Cash, $m	Operating cash flow	27	39	67	46	15	3	(31)	119	64	185
	Capex	(149)	(108)	(11)	(28)	(68)	(21)	(16)	(19)	(3)	(34)
	Free cash flow	(122)	(69)	56	18	(53)	(18)	(47)	100	61	151
Balance, $m
Balance, $m	Working capital	71	92	(13)	126	92	234	245	374	334	475
	Total debt	121	202	71	186	186	287	287	286	624	617
	Net debt	93	170	28	123	178	187	233	65	473	322
	Shareholders’ equity	170	175	197	213	196	359	339	458	429	541
Returns, %
Returns, %	ROA	1.29	(0.29)	3.64	1.37	(4.91)	(6.94)	(6.47)	2.06	(1.84)	5.66
	ROIC	4.77	5.13	9.83	3.04	(2.68)	(4.56)	(3.86)	5.62	0.04	8.05
	ROE	2.37	(0.62)	8.25	2.97	(11.04)	(16.16)	(15.29)	4.60	(4.82)	16.34

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SUPN Supernus Pharmaceuticals, Inc.	$2.3B	— (loss-making)	103×	+32.40% (above 0%: growing)	n/m	−109.26% (below 0%: shrinking)	84.63%	(26.46%)	Compare
PRGO Perrigo Company plc	$2.3B	— (loss-making)	— (loss-making)	−3.17% (below 0%: shrinking)	n/m	+18.37% (above 0%: growing)	30.69%	2.31%	Compare
ALVO Alvotech	$2.1B	— (loss-making)	8.9×	+2,310.95% (above 0%: growing)	−99.51% (below 0%: shrinking)	−496.58% (below 0%: shrinking)	56.47%	9.14%	Compare
BCRX BioCryst Pharmaceuticals, Inc.	$2.1B	— (loss-making)	— (loss-making)	+33.61% (above 0%: growing)	+1,450.00% (above 0%: growing)	+153.22% (above 0%: growing)	98.24%	45.12%	Compare
XERS Xeris Biopharma Holdings, Inc.	$1.8B	— (loss-making)	54.5×	+28.74% (above 0%: growing)	n/m	+8,403.09% (above 0%: growing)	86.41%	5.62%	Compare
ANIP ANI Pharmaceuticals, Inc.	$1.7B	14.9×	14.5×	+25.87% (above 0%: growing)	+194.59% (above 0%: growing)	−22.19% (below 0%: shrinking)	62.35%	15.21%
PAHC Phibro Animal Health Corporation	$1.5B	15.8×	11.1×	+4.77% (above 0%: growing)	+28.57% (above 0%: growing)	−35.73% (below 0%: shrinking)	33.88%	12.14%	Compare
ETON Eton Pharmaceuticals, Inc.	$1.5B	107×	40.3×	+98.59% (above 0%: growing)	n/m	−8.78% (below 0%: shrinking)	67.61%	34.04%	Compare
PCRX Pacira BioSciences, Inc.	$1.5B	104×	33.7×	+6.24% (above 0%: growing)	n/m	+502.51% (above 0%: growing)	77.05%	2.22%	Compare
Median of peers	$1.9B	104×	37.0×	+30.57%	+28.57%	+4.80%	72.33%	7.38%

All 86 Drug Manufacturers Specialty & Generic stocks →

ANI Pharmaceuticals, Inc. (ANIP) key facts

Strength: ANI Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $883.4 million, up 43.8% from fiscal 2024.
ANI Pharmaceuticals, Inc. (ANIP) is a Drug Manufacturers Specialty & Generic company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, ANIP traded at $72.08, a market capitalization of $1.7 billion.
Return on equity was 16.3% and debt-to-equity 1.02.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.30 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.