PHIBRO ANIMAL HEALTH CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PHIBRO ANIMAL HEALTH CORP 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	764	820	828	800	833	942	978	1,018	1,296	1,518
Cost of revenue	516	553	563	543	562	657	680	705	896	1,006
Gross profit	248	267	265	257	271	285	298	313	400	513
Research and development	9.44	10	12.1	13.7	17.8	20.8	24.4	29.2	23.7	24.6
Selling, general and administrative	150	168	181	188	197	206	226	260	289	318
General and administrative	29.6	33.4	38.5
Operating income	97.9	98.9	83.2	69.2	74.9	79	71.8	53.3	110	194
Interest expense	16.9	13.6	13.7	14.6	13.7	12.7	18.7	23	37.2	46.4
Pre-tax income	80.5	88.1	71.5	55.5	66.5	72.3	54.1	10.9	68	137
Income tax	15.9	23.2	16.8	22	12.1	23.2	21.5	8.5	19.7	37.6
Net income	64.6	64.9	54.7	33.6	54.4	49.2	32.6	2.42	48.3	99.7
EBITDA	124	126	111	102	107	112	106	89.5	156	246
EPS, basic	1.63	1.61	1.35	0.83	1.34	1.21	0.81	0.06	1.19	2.46
EPS, diluted	1.61	1.61	1.35	0.83	1.34	1.21	0.81	0.06	1.19	2.43
Shares, basic (weighted)	0.04	0.04	0.04	40.5	40.5	40.5	40.5	40.5	40.5	40.5
Shares, diluted (weighted)	0.04	0.04	0.04	40.5	40.5	40.5	40.5	40.5	40.7	41
Dividend per share	0.40	0.40	0.46	0.48	0.48	0.48	0.48	0.48	0.48	0.48

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	56.1	29.2	57.6	36.3	50.2	74.2	41.3	70.6	68	61.4
Short-term investments		50	24	55	43	17	40	44	9	20.6
Receivables	126	136	159	127	147	167	163	169	228	239
Inventory	161	178	198	197	216	259	278	266	444	535
Other current assets	20.5	22.4	27.2	37.3	42.5	49.3	63.4	51	61.2	79.8
Total current assets	364	415	466	452	499	566	586	601	811	936
Property, plant and equipment	127	130	140	148	155	165	196	203	355	369
Lease right-of-use assets			0	22.9	33	37.7	35.8	37.6	41.3	51.6
Goodwill	24	27.3	27.3	52.7	52.7	53.2	53.3	54.6	59.6	60
Intangible assets	54.6	52	47.5	71	62.3	63.9	55	45	36.5	30.1
Other non-current assets	53.8	46.8	45.4	60.5	72.7	82.9	81.8	78.3	99.5	106
Total assets	623	672	727	784	841	932	971	982	1,361	1,501
Accounts payable	56.9	59.5	73.2	66.1	68.4	95.6	73.9	85.6	138	127
Accrued liabilities	52.7	71.1	68.5	72.4	86.4	34.3	29.4	37.6	51.8	65.5
Deferred revenue		0.51	0.97	1.11	1.56	0.82	0.37
Short-term debt	6.25	12.6	12.5	18.8	9.38	15	22.3	29.8	16.3
Total current liabilities	116	143	154	157	164	191	176	204	293	316
Long-term debt	242	230	218	218	297	273	312	282	615
Lease liabilities				17.3	28	31.5	29.1	29.9	33.7	45.4
Other non-current liabilities	49.6	43.7	42.8	70.4	56	60.5	60.3	63.1	79.3	91.5
Total liabilities	472	487	511	596	603	669	689	726	1,075	1,116
Total debt	6.25	242	230	237	306	288	334	312	632
Paid-in capital	124	130	133	136	136	136	136	136	137	139
Retained earnings	82.8	132	169	183	218	248	261	244	273	353
Other comprehensive income	-55.4	-76.5	-86.2	-130	-115	-121	-114	-124	-124	-106
Shareholders' equity	151	185	216	188	239	262	283	257	286	385
Total equity	151	185	216	188	239	262	283	257	286	385
Total liabilities and equity	623	672	727	784	841	932	971	982	1,361	1,501

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	64.6	64.9	54.7	33.6	54.4	49.2	32.6	2.42	48.3	99.7
Depreciation and amortization	26	26.9	27.6	32.3	31.9	32.7	34	36.2	45.6	51.5
Stock-based compensation	0	0.33	2.26	2.26	1.13			0.48	0.72	1.6
Deferred income tax	-0.03	6.39	-0.11	8.13	-2.18	-0.8	-2.9	-12	-4.75	7.23
Change in receivables	-2.77	-11.9	-23.7	28.7	-18.2	-23.6	5.34	-8.68	-55.2	-7.49
Change in inventory	5.43	-24.3	-21	-12.9	-12.5	-47	-11.2	2.64	-44.3	-86.3
Change in payables	-3.12	2.45	12.1	-7.67	3.18	26.4	-22.8	12	45.6	-12.5
Cash from operations	98.4	70	47.2	59.3	48.3	31.6	13.3	87.6	80.1	69
Capital expenditures	-20.9	-18.5	-29.9	-34	-29.3	-37	-51.8	-41.2	-38.3	-59.1
Acquisitions		-15	-9.84	-54.5		-13.5		-3.28	-287
Purchases of investments		-82	-34	-80	-74	-64.1	-40	-65.5	-14	-47.6
Cash from investing	-21.9	-84.6	-14.1	-120	-18.6	-22.6	-74	-48.2	-289	-71.5
Debt issued	250
Stock issued	5.54	5.7	1.13
Dividends paid	-15.8	-16.1	-18.6	-19.4	-19.4	-19.4	-19.4	-19.4	-19.4	-19.5
Cash from financing	-53.7	-11.8	-4.11	40.9	-17	16.3	27	-6.77	207	-6.56
Exchange rate effect				-1.12	1.14	-1.37	0.75	-3.3	-1.14	2.44
Net change in cash	22.5	-26.9	28.4	-21.2	13.9	24	-33	29.3	-2.57	-6.62
Free cash flow	77.5	51.5	17.3	25.3	19	-5.4	-38.5	46.4	41.8	9.87
Interest paid	14.6	11.2	12.3	11.6	10.8	11.2	14.6	17.3	32.1	42.1
Income taxes paid	14.8	15.2	16.2	20.9	19.4	17.9	20.4	15.4	13.4	20.6

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $34.45 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.8%	Gross profit / revenue.
Operating margin	12.8%	Operating income / revenue.
EBITDA margin	16.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	9.0%	Pre-tax income / revenue.
Net margin	6.6%	Net income / revenue.
FCF margin	0.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.5%	Cash from operations / revenue.
Effective tax rate	27.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	29.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.0%	Net income / average total assets.
Return on invested capital (ROIC)	24.1%	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	1.6%	Research and development expense / revenue.
SG&A / revenue	21.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.9%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	17.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	15.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	28.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	19.8%	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	13.6%	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	76.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	39.3%	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	21.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	57.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	32.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	18.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	106.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	45.2%	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	12.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	104.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	44.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	12.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-13.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	73.0%	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	7.4%	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	-76.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-12.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	34.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.9%	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	10.1%	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	10.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	15.6%	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	12.3%	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	0.7%	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	0.4%	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	0.2%	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	2.96x	Current assets / current liabilities.
Quick ratio	1.01x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.26x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	74.3%	Total liabilities / total assets.
Interest coverage	4.19x	Operating income / interest expense.
Working capital	$619.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	6.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$295.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.06x	Revenue / average total assets.
Fixed asset turnover	4.19x	Revenue / average property, plant and equipment.
Inventory turnover	2.05x	Cost of revenue / average inventory.
Days inventory	178 days	365 x average inventory / cost of revenue.
Receivables turnover	6.50x	Revenue / average receivables.
Days sales outstanding	56 days	365 x average receivables / revenue.
Days payables	48 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	186 days	Days inventory + days sales outstanding - days payables.
FCF conversion	9.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	85.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.43	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.
EPS, basic	$2.46	Net income per basic share, as reported (split-adjusted).
Revenue per share	$37.06	Revenue / diluted weighted shares.
FCF per share	$0.24	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.68	Cash from operations / diluted weighted shares.
Book value per share	$9.41	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.21	Tangible book value / shares outstanding.
Cash per share	$2.00	(Cash + short-term investments) / shares outstanding.
Dividend per share	$0.48	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	19.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	197.3%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.40B	Share price x shares outstanding.
Enterprise value	$1.32B	Market cap + total debt - cash - short-term investments.
P/E	14.0x	Market cap / net income. Only when net income is positive.
P/S	0.92x	Market cap / revenue.
P/B	3.63x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.73x	Market cap / tangible book value, when positive.
P/FCF	142x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	20.3x	Market cap / cash from operations, when positive.
EV/Sales	0.87x	Enterprise value / revenue.
EV/EBIT	6.77x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.35x	Enterprise value / EBITDA, when both are positive.
EV/FCF	133x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.7%	Free cash flow / market cap.
Earnings yield	7.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	1.4%	(Dividends paid + share buybacks) / market cap.
PEG	0.32x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was PHIBRO ANIMAL HEALTH CORP's revenue in fiscal 2026?

PHIBRO ANIMAL HEALTH CORP reported revenue of $1.52B for fiscal 2026, 17.1% higher than the year before.

Was PHIBRO ANIMAL HEALTH CORP profitable in fiscal 2026?

Yes. Net income was $99.7M, a net margin of 6.6%.

How much free cash flow did PHIBRO ANIMAL HEALTH CORP generate in fiscal 2026?

Cash from operations of $69.0M minus capital expenditures of $59.1M left free cash flow of $9.9M.

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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