ELITE PHARMACEUTICALS INC /NV/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ELITE PHARMACEUTICALS INC /NV/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	9.64	7.46	7.57	18	25.4	32.3	34.2	56.6	84	149
Cost of revenue	5.9	3.51	4.7	10	13.5	17.5	17.6	30.3	44	73.8
Gross profit	3.74	3.95	2.87	7.98	11.9	14.8	16.6	26.4	40.1	75
Research and development	8.3	9.62	7.6	5.53	5.11	4.05	6.2	6.88	7.96	5.74
General and administrative	2.08	2.33	3.08	3.35	3.32	4.46	5.12	7.15	9	17.6
Operating expenses	11.1	13	12	10.3	9.76	9.72	12.9	15.6	20.5	25.9
Operating income	-7.36	-9.05	-9.16	-2.29	2.1	5.07	3.68	10.8	19.6	49.1
Interest expense	0.24	0.34	0.37	0.36	0.26	0.19	1.11	0.59	0.13	0.11
Interest income	0.01	0.02	0.02	0.01	0	0	0.01	0.02	0.02	0.21
Other non-operating income	9.3	4.33	-0.8	0.05	2.04	1.23	0.31	-10.3	-19.7	7.7
Pre-tax income	1.94	-4.72	-9.96	-2.24	4.14	6.3	3.99	0.46	-0.05	56.8
Income tax	-1.87	-1.05	-0.68			-1.74	0.42	-19.6	4.26	11.9
Net income	3.81	-3.67	-9.28	-2.24	5.09	8.9	3.56	20.1	-4.31	44.9
EBITDA	-6.64	-8.05	-7.9	-0.97	3.42	6.28	4.95	12.1	20.8	50.2
EPS, basic	0.03	0.00	-0.01	0.00	0.01	0.01	0.00	0.02	0.00	0.04
EPS, diluted	-0.01	-0.01	-0.01	0.00	0.00	0.01	0.00	0.02	0.00	0.03
Shares, basic (weighted)	839	796	814	832	943	1,011	1,013	1,015	1,068	1,073
Shares, diluted (weighted)	845	798	816	993	943	1,011	1,013	1,023	1,068	1,138

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	10.6	7.18	2.28	1.13	3.19	8.54	7.83	7.11	11.8	30.3
Receivables	0.93	0.68	1.32	4.11	3.5	3.06	3.09	19.5	29.2	59.7
Inventory	6.42	4.9	4.52	4.14	5.01	6.74	9.55	12.9	16.2	21.3
Other current assets	0.47	0.95	0.74	0.87	0.49	0.53	1.03	0.52	0.98	1.33
Total current assets	18.4	13.7	8.86	10.3	12.2	18.9	21.5	40	57.7	112
Property, plant and equipment	9.04	8.99	8.44	7.23	6.65	5.95	10.4	10.2	10.3	10.2
Lease right-of-use assets				0.36	0.21	1.03	0.01	2.36	2	1.53
Intangible assets	6.42	7.71	6.63	6.63	6.63	6.63	6.34	6.34	5.64	4.79
Other non-current assets	0.44	0.47	0.47	0.48
Total assets	34.3	30.9	24.4	25	26.2	35.1	40.9	83.7	96.4	138
Accounts payable	1.05	1.66	1.38	1.58	0.93	1.43	2.45	2.71	2.96	6.05
Accrued liabilities	0.79	1.79	3.71	4.82	4.27	4.69	5.05	5.3	3.8	10.2
Deferred revenue	1.01	1.01	1.01	0.18	0.01	0.01	0.01	0.01	0.01
Total current liabilities	3.34	5.11	6.91	8.64	5.81	6.69	7.83	13	11.8	17.4
Lease liabilities				0.17	0.04	0.84		1.96	1.55	1.02
Other non-current liabilities	0.03	0.04	0.05	0.04	0.04	0.04
Total liabilities	8.65	12.4	13	14.3	10	9.93	11.9	26.1	42.9	39.4
Total debt				1.58	1.47	1.25
Paid-in capital	164	147	149	150	164	165	165	173	173	174
Retained earnings	-139	-143	-152	-154	-149	-140	-136	-116	-121	-75.8
Treasury stock	-0.31	-0.31	-0.31	-0.31	-0.31	-0.31	-0.31	-0.31	-0.31	-0.31
Shareholders' equity	25.7	4.57	-2.51	10.7	16.2	25.2	29	57.6	53.5	98.9
Total equity	25.7	4.57	-2.51	10.7	16.2	25.2	29	57.6	53.5	98.9
Total liabilities and equity	34.3	30.9	24.4	25	26.2	35.1	40.9	83.7	96.4	138
Shares outstanding	928	803	825	840	1,009	1,011	1,014	1,068	1,068	1,077

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	3.81	-3.67	-9.28	-2.24	5.09	8.9	3.56	20.1	-4.31	44.9
Depreciation and amortization	0.71	1	1.26	1.32	1.31	1.21	1.28	1.32	1.23	1.07
Stock-based compensation	0.36	0.24	0.14	0.06	0.01	0.01	0.04	0.16	0.23	0.18
Deferred income tax						-2.17		-20	3.8	10.5
Change in receivables	0.6	0.26	-0.55	-2.79	0.61	0.44	-0.04	-16.6	-9.9	-31.6
Change in inventory	-3.12	1.52	0.38	0.37	-0.87	-1.73	-2.81	-3.38	-3.31	-5.02
Change in payables	-0.93	0.68	0.06	0.34	-1.77	0.31	1.34	0.02	0.24	3.1
Cash from operations	-7.88	-4.81	-6.79	-1.79	3.19	6.51	3.34	-3.24	7.46	23.7
Capital expenditures						-0.5	-5.74	-0.81	-1.63	-0.93
Cash from investing	-1.1	-0.27	0.33	-0.03	-0.26	-0.5	-5.74	-0.81	-2.4	-0.93
Debt repaid	-0.22	-0.09
Stock issued	7.59	2	2.06	1.44	0.04				0.02	0.32
Cash from financing	8.07	1.67	1.57	0.69	-0.87	-0.67	1.7	3.34	-0.83	-4.32
Net change in cash	-0.92	-3.41	-4.9	-1.14	2.06	5.34	-0.7	-0.71	4.23	18.5
Free cash flow						6.01	-2.4	-4.04	5.83	22.8
Interest paid	0.14	0.14	0.23	0.24	0.18	0.18	1.1	0.12	0.67	0.25
Income taxes paid	0	0.01					0.42	0.29	0.61	1.15

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.25 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	43.5%	Gross profit / revenue.
Operating margin	24.8%	Operating income / revenue.
EBITDA margin	25.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	46.2%	Pre-tax income / revenue.
Net margin	40.2%	Net income / revenue.
FCF margin	12.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.5%	Cash from operations / revenue.
Effective tax rate	12.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	54.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	40.6%	Net income / average total assets.
Return on invested capital (ROIC)	46.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	4.3%	Research and development expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.1%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	77.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	63.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	42.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	87.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	65.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	44.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	150.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	137.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	87.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	141.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	116.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	71.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	132.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	54.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	218.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	92.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	49.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	291.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	84.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	50.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	43.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	43.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	50.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	39.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	6.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	4.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.76x	Current assets / current liabilities.
Quick ratio	2.95x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.29x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	24.9%	Total liabilities / total assets.
Interest coverage	318x	Operating income / interest expense.
Working capital	$84.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	3.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$100.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.01x	Revenue / average total assets.
Fixed asset turnover	13.1x	Revenue / average property, plant and equipment.
Inventory turnover	3.29x	Cost of revenue / average inventory.
Days inventory	111 days	365 x average inventory / cost of revenue.
Receivables turnover	2.80x	Revenue / average receivables.
Days sales outstanding	131 days	365 x average receivables / revenue.
Days payables	26 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	216 days	Days inventory + days sales outstanding - days payables.
FCF conversion	30.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	8.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.05	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.12	Revenue / diluted weighted shares.
FCF per share	$0.02	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.02	Cash from operations / diluted weighted shares.
Book value per share	$0.10	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.09	Tangible book value / shares outstanding.
Cash per share	$0.04	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$269.3M	Share price x shares outstanding.
Enterprise value	$229.9M	Market cap + total debt - cash - short-term investments.
P/E	4.75x	Market cap / net income. Only when net income is positive.
P/S	1.91x	Market cap / revenue.
P/B	2.57x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.69x	Market cap / tangible book value, when positive.
P/FCF	15.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.1x	Market cap / cash from operations, when positive.
EV/Sales	1.63x	Enterprise value / revenue.
EV/EBIT	6.58x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.39x	Enterprise value / EBITDA, when both are positive.
EV/FCF	13.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.5%	Free cash flow / market cap.
Earnings yield	21.0%	Net income / market cap (the inverse of P/E).

What was ELITE PHARMACEUTICALS INC /NV/'s revenue in fiscal 2026?

ELITE PHARMACEUTICALS INC /NV/ reported revenue of $148.9M for fiscal 2026, 77.1% higher than the year before.

Was ELITE PHARMACEUTICALS INC /NV/ profitable in fiscal 2026?

Yes. Net income was $44.9M, a net margin of 30.1%.

How much free cash flow did ELITE PHARMACEUTICALS INC /NV/ generate in fiscal 2026?

Cash from operations of $23.7M minus capital expenditures of $925.6K left free cash flow of $22.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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