Alvotech (ALVO) vs ANI Pharmaceuticals, Inc. (ANIP)

Alvotech and ANI Pharmaceuticals, Inc. are both Drug Manufacturers Specialty & Generic companies. Alvotech is the larger, with a market value of $2.3B against $1.7B — 1.4× the size. Alvotech has negative trailing earnings, so its P/E is not meaningful; ANI Pharmaceuticals, Inc. trades at 15.3×. Alvotech grew revenue faster over the last twelve months: 364.3% against 30.9%. ANI Pharmaceuticals, Inc. has the higher net margin (11.0% vs −101.1%) and the higher return on invested capital (11.3% vs 0.00%). Across the 16 metrics below, ANI Pharmaceuticals, Inc. leads on 14 and Alvotech on 2.

Valuation

Metric ALVO ANIP Drug Manufacturers Specialty & Generic median
P/E n/m 15.32 20.14
P/S 5.77 1.60 2.25
P/B n/m 2.62 1.90
Price to free cash flow n/m 9.35 16.54
EV/EBITDA n/m 7.62 12.29
EV/Sales 9.74 1.84 2.56
Earnings yield (20.81%) 6.53% (2.99%)
Free cash flow yield (12.51%) 10.70% 0.00%

Profitability

Metric ALVO ANIP Drug Manufacturers Specialty & Generic median
Gross margin 42.71% 60.40% 53.94%
Operating margin (42.43%) 15.37% 0.00%
Net margin (101.05%) 11.04% 0.00%
Free cash flow margin 0.00% 17.12% 0.00%
Return on equity 0.00% 20.88% (0.40%)
Return on assets 0.00% 7.61% (3.32%)
Return on invested capital 0.00% 11.30% 0.00%

Growth

Metric ALVO ANIP Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 364.29% 30.90% 10.01%
EPS growth (last fiscal year) 111.49% 419.23% —
Revenue growth, 5-year CAGR — 33.48% 6.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ALVO ANIP Drug Manufacturers Specialty & Generic median
Debt to equity (6.82) 1.02 0.05
Current ratio 1.65 2.91 2.31
Net debt to EBITDA 9.71 1.59 0.85

Dividend

Metric ALVO ANIP Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.70%
Payout ratio 0.00 0.00 0.00

Size

Metric ALVO ANIP Drug Manufacturers Specialty & Generic median
Market cap 2.30b 1.70b 337.35m

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