Phibro Animal Health Corporation
PAHC Healthcare Drug Manufacturers Specialty & Generic
Phibro Animal Health Corporation’s revenue for fiscal 2026 (year ended June 2026) was $1.5 billion, up 17.1% from fiscal 2025. In the quarter to June 2026, revenue grew 4.77%, EPS grew 28.6%, free cash flow fell 35.7% and total debt rose 1.96%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five; insiders bought in the last twelve months.
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Phibro Animal Health Corporation (PAHC) Altman Z-score
Phibro Animal Health Corporation's Altman Z-score for fiscal 2026 is 2.95, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.95 | 0.41 |
| FY2025 | 2.53 | (0.08) |
| FY2024 | 2.61 | (0.01) |
| FY2023 | 2.62 | (0.23) |
| FY2022 | 2.84 | (0.45) |
| FY2021 | 3.29 | 0.13 |
| FY2020 | 3.16 | (0.71) |
| FY2019 | 3.87 | (0.88) |
| FY2018 | 4.75 | 0.48 |
| FY2017 | 4.27 | 1.18 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.41 | — | 0.49 | |
| Retained earnings / total assets | 0.24 | — | 0.33 | |
| EBIT / total assets | 0.13 | — | 0.43 | |
| Market value of equity / total liabilities | 1.14 | — | 0.68 | |
| Sales / total assets | 1.01 | — | 1.01 | |
| Altman Z-score | Grey zone | 2.95 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.70 | ||
Z and Z″ put Phibro Animal Health Corporation in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CRON Cronos Group Inc. compare | 12.7× |
| ETON Eton Pharmaceuticals, Inc. compare | 3.6× |
| PAHC Phibro Animal Health Corporation | 2.9× |
| AMPH Amphastar Pharmaceuticals, Inc. compare | 2.5× |
| ANIP ANI Pharmaceuticals, Inc. compare | 2.3× |
| PCRX Pacira BioSciences, Inc. compare | 2.0× |
| BCRX BioCryst Pharmaceuticals, Inc. compare | 1.8× |
| XERS Xeris Biopharma Holdings, Inc. compare | 1.0× |
| ALVO Alvotech compare | −1.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets