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PAHC

Phibro Animal Health Corporation

PAHC

Phibro Animal Health Corporation • NASDAQ
$41.88 ▼ -3.12% (-1.35)
Market Cap $1.70 B
52w High $46.42
52w Low $16.16
Dividend Yield 0.48%
P/E 25.08
Volume 102.76K
Outstanding Shares 40.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $363.893M ▼ $71.455M ▼ $26.527M ▲ 7.29% ▲ $0.65 ▲ $62.578M ▲
Q4-2025 $378.697M ▲ $76.291M ▲ $17.224M ▼ 4.548% ▼ $0.42 ▼ $44.714M ▼
Q3-2025 $347.825M ▲ $71.053M ▼ $20.88M ▲ 6.003% ▲ $0.52 ▲ $51.385M ▲
Q2-2025 $309.261M ▲ $76.337M ▲ $3.185M ▼ 1.03% ▼ $0.08 ▼ $25.576M ▼
Q1-2025 $260.432M $65.796M $6.975M 2.678% $0.17 $26.796M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $85.273M ▲ $1.386B ▲ $1.074B ▼ $311.681M ▲
Q4-2025 $77.039M ▲ $1.361B ▲ $1.075B ▲ $285.682M ▲
Q3-2025 $70.354M ▲ $1.317B ▲ $1.051B ▲ $265.992M ▲
Q2-2025 $67.074M ▼ $1.286B ▲ $1.039B ▲ $246.802M ▼
Q1-2025 $89.837M $966.289M $707.762M $258.527M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $26.527M ▲ $9.302M ▼ $-21.014M ▼ $16.335M ▲ $4.73M ▼ $-4.504M ▼
Q4-2025 $17.224M ▼ $21.272M ▼ $-7.034M ▲ $-7.766M ▲ $7.685M ▲ $8.13M ▼
Q3-2025 $20.88M ▲ $43.154M ▲ $-18.251M ▲ $-32.223M ▼ $-6.72M ▼ $35.408M ▲
Q2-2025 $3.185M ▼ $3.076M ▼ $-260.473M ▼ $276.32M ▲ $15.237M ▲ $-4.746M ▼
Q1-2025 $6.975M $12.622M $-2.93M $-29.197M $-18.776M $3.039M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Vaccines
Vaccines
 $30.00M ▲$30.00M ▲$40.00M ▲$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, with a particularly strong step‑up recently that likely reflects the Zoetis medicated feed additives acquisition. Profitability has been more uneven: margins narrowed a couple of years ago, and earnings dipped close to break‑even, but operating profit and net income have since recovered. Even with this rebound, profit per share is only back to roughly where it was a few years ago, suggesting the business is growing in size but still working to fully translate that growth into consistently stronger bottom‑line performance.

Balance Sheet

Balance Sheet The balance sheet shows a company that has expanded its asset base while steadily taking on more debt to fund growth. Equity has inched higher, but borrowings have grown faster, meaning leverage has increased over time. Cash balances are relatively small compared with total assets and debt, which is typical for many operating companies but leaves less of a cushion if conditions weaken. Overall, the profile looks manageable, but it depends on continued stable cash generation to comfortably support the higher debt load.

Cash Flow

Cash Flow Operating cash flow has generally been positive but not especially generous, with some years noticeably weaker than others. After capital spending, free cash flow has hovered around breakeven to modestly positive, with an occasional negative year. Capital investment has been steady rather than aggressive, indicating disciplined but not transformative spending levels. The pattern suggests the business can fund its regular investments from operations, but with limited room for error or large new commitments without additional financing or improved cash generation.

Competitive Edge

Competitive Edge Phibro holds a solid niche in the animal health space, offering a wide mix of vaccines, medicated feed additives, nutritional specialties, and mineral nutrition products. The recent acquisition of Zoetis’ feed additive portfolio significantly broadened its offerings and deepened its presence with livestock producers. Its global reach, large product catalog, and technical support to veterinarians and farmers create switching costs and customer loyalty. These factors together form a meaningful competitive moat, though integration of acquired assets and ongoing regulatory and market pressures in livestock production remain important watchpoints.

Innovation and R&D

Innovation and R&D Innovation is spread across several platforms rather than relying on a single blockbuster. The company has notable strengths in custom, farm‑specific vaccines, an advanced vaccine delivery format, direct‑fed microbials built on a deep microbial strain library, and specialized nutrition products for dairy and other species. It is also testing the waters in companion animals with dental health products for dogs, which could open a new growth leg if adoption builds. Continued investment in vaccine capacity, new formulations, and specialty nutrition will be key to maintaining differentiation as larger animal health players and new biotech entrants compete for the same customers.

Summary

Phibro Animal Health appears to be in the middle of a strategic shift from a smaller, steady niche player to a more scaled, diversified animal health platform. Revenue growth has accelerated, aided by acquisitions, while profitability and cash flow have improved but still show some volatility. The balance sheet carries more debt than in the past, raising the importance of smooth integration and sustained cash generation. On the qualitative side, its broad portfolio, global reach, technical service model, and focused innovation in vaccines, microbials, and nutrition provide real competitive strengths. The key questions looking ahead center on execution: turning the enlarged product base and new companion‑animal initiatives into consistently higher margins and stronger, more reliable cash flows without overstraining the balance sheet.

NEWS

November 5, 2025 · 4:22 PM UTC

Phibro Animal Health Corporation Reports First Quarter Results, Updates Financial Guidance

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November 4, 2025 · 4:10 PM UTC

Phibro Animal Health Corporation Declares Quarterly Dividend

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October 30, 2025 · 1:00 PM UTC

Phibro Animal Health Corporation Announces National Launch of Restoris™ Piezoelectric Dental Gel for Dogs

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October 29, 2025 · 4:00 PM UTC

Phibro Animal Health Corporation to Host Webcast and Conference Call on First Quarter Results

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October 9, 2025 · 4:30 PM UTC

Phibro Animal Health Corporation Announces Licensing Agreement with Lighthouse Pharmaceuticals, Inc. for Innovative Periodontal Health Asset for Dogs

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