Anika Therapeutics, Inc.

Health Care
Medical/Dental Instruments
www.anika.com

Earnings Score
Moat Score

Market Cap $255.53M
PE -3
Debt -
Cash $62.37M
EV -
FCF -$808.00K

Earnings

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Sales & Net Margins

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Earnings	-$97.52M
EBIT	-$94.53M
ROE	-54%
ROA	-41%
FCF	-$808.00K
Equity	$179.86M
Growth Stability	-607%
PE	-2.62
PEG	1.48
PB	1.42
P/FCF	-316.25
P/S	1.56
Price/Cash	0.24
Net Margins	-28%
Gross Margins	49%
Op. Margins	-58%
Earnings CAGR	-1%
Sales Growth YoY	-7%
Sales Growth QoQ	-8%
Sales CAGR	7%
FCF CAGR	-8%
Equity CAGR	2%
Earnings Stability	0.02
Earnings Growth YoY	355%

Earnings Growth QoQ	34K%
Earnings CAGR 5Y	-2%
Sales CAGR 5Y	8%
FCF CAGR 5Y	-15%
Equity CAGR 5Y	-7%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
FCF CAGR 3Y	-7%
Equity CAGR 3Y	-15%
Market Cap	$255.53M
Revenue	$164.17M
Assets	$231.41M
Cash	$62.37M
Shares Outstanding	14.69M
Earnings Score	6%
Moat Score	2%
Working Capital	110.61M
Current Ratio	5.34
Gross Profit	$79.76M
Shares Growth 3y	1%
Equity Growth QoQ	-14%
Equity Growth YoY	-34%

Assets & ROA

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Stockholders Equity & ROE

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Anika Therapeutics Inc is an orthopedic medicines company. It is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies. The company focuses on orthopedics, including osteoarthritis pain management, regenerative solutions, soft tissue repair, and bone preserving joint technologies. Geographically, it derives a majority of revenue from the United States.

SEC Filings

Direct access to Anika Therapeutics, Inc. (ANIK) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Anika Therapeutics, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Anika Therapeutics, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -1%

Stability 2%

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Anika Therapeutics, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Anika Therapeutics, Inc..

Years

Calculation mode

= -$4.8M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$808K	-$744K	-$686K	-$632K	-$582K	-$537K	-$494K	-$455K	-$420K	-$387K	-$356K	-$3.6M
DCF		-$677K	-$567K	-$475K	-$398K	-$333K	-$279K	-$234K	-$196K	-$164K	-$137K	-$1.4M
Value	-$4.8M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	33%	31%	28%	18%	24%	-18%	3%	-10%	-50%	-28%
ROA	-	21%	16%	8%	11%	-8%	1%	-5%	-32%	-41%
ROE	-	15%	12%	7%	9%	-9%	1%	-5%	-39%	-54%

Bad Net Margins (-28.48%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	0	-	-	-	-	-
Debt over Equity	-	-	-	-	0	-	-	-	-	-
Growth Stability	-	-	-	59%	98%	-93%	57%	-607%	-	-607%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-607%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	11%	10%	-7%	9%	14%	13%	6%	7%	8%
Earnings YoY growth	-	6%	-2%	-41%	45%	-188%	-117%	-459%	456%	-2%
Equity YoY growth	-	6%	18%	0%	9%	-6%	5%	-1%	-26%	-7%
FCF YoY growth	-	-67%	225%	-5%	13%	-67%	-72%	-195%	134%	-15%