ANI Pharmaceuticals, Inc. (ANIP) vs Eton Pharmaceuticals, Inc. (ETON)

ANI Pharmaceuticals, Inc. and Eton Pharmaceuticals, Inc. are both Drug Manufacturers Specialty & Generic companies. ANI Pharmaceuticals, Inc. and Eton Pharmaceuticals, Inc. are of similar size ($1.7B and $1.7B). ANI Pharmaceuticals, Inc. trades at the lower P/E: 15.3× against 123×. Eton Pharmaceuticals, Inc. grew revenue faster over the last twelve months: 81.5% against 30.9%. Eton Pharmaceuticals, Inc. has the higher net margin (12.0% vs 11.0%) and the higher return on invested capital (21.4% vs 11.3%). Across the 20 metrics below, ANI Pharmaceuticals, Inc. leads on 11 and Eton Pharmaceuticals, Inc. on 9.

Valuation

Metric ANIP ETON Drug Manufacturers Specialty & Generic median
P/E 15.32 122.72 20.14
P/S 1.60 15.10 2.25
P/B 2.62 34.23 1.90
Price to free cash flow 9.35 n/m 16.54
EV/EBITDA 7.62 74.26 12.29
EV/Sales 1.84 15.11 2.56
Earnings yield 6.53% 0.81% (2.99%)
Free cash flow yield 10.70% (0.53%) 0.00%

Profitability

Metric ANIP ETON Drug Manufacturers Specialty & Generic median
Gross margin 60.40% 57.87% 53.94%
Operating margin 15.37% 15.44% 0.00%
Net margin 11.04% 12.02% 0.00%
Free cash flow margin 17.12% (7.94%) 0.00%
Return on equity 20.88% 35.97% (0.40%)
Return on assets 7.61% 11.67% (3.32%)
Return on invested capital 11.30% 21.39% 0.00%

Growth

Metric ANIP ETON Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 30.90% 81.49% 10.01%
EPS growth (last fiscal year) 419.23% (13.33%) —
Revenue growth, 5-year CAGR 33.48% 359.57% 6.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ANIP ETON Drug Manufacturers Specialty & Generic median
Debt to equity 1.02 0.60 0.05
Current ratio 2.91 1.52 2.31
Net debt to EBITDA 1.59 1.18 0.85

Dividend

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

Size

Metric ANIP ETON Drug Manufacturers Specialty & Generic median
Market cap 1.70b 1.72b 337.35m

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