Phibro Animal Health Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.pahc.com

Earnings Score
Moat Score
Safety Score

Market Cap $771.20M
PE 40
Debt $662.50M
Cash $67.07M
EV $1.37B
FCF $15.33M

Earnings

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Sales & Net Margins

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Earnings	$19.32M
EBIT	$81.57M
ROE	8%
ROA	6%
FCF	$15.33M
Equity	$246.80M
Growth Stability	5%
PE	39.92
PEG	-1.41
PB	3.12
P/FCF	50.32
P/S	0.7
Price/Cash	0.09
Debt/Equity	2.68
Debt/FCF	43.22
Net Margins	2%
Gross Margins	32%
Op. Margins	7%
Earnings CAGR	-18%
Sales Growth YoY	24%
Sales Growth QoQ	19%
Sales CAGR	4%
FCF CAGR	-3%
Equity CAGR	18%
Earnings Stability	0.55
Earnings Growth YoY	150%
Earnings Growth QoQ	-54%
Earnings CAGR 5Y	-28%

Sales CAGR 5Y	7%
FCF CAGR 5Y	1%
Equity CAGR 5Y	7%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
FCF CAGR 3Y	172%
Equity CAGR 3Y	-2%
Market Cap	$771.20M
Revenue	$1.11B
Dividend Yield	3%
Payout Ratio	101%
Assets	$1.29B
Total Debt	$662.50M
Cash	$67.07M
Shares Outstanding	40.5M
EV	1.37B
Earnings Score	3%
Moat Score	73%
Safety Score	34%
Final Score	37%
Working Capital	512.9M
Current Ratio	3.2
Gross Profit	$352.12M
Shares Growth 3y	0%
Equity Growth QoQ	-5%
Equity Growth YoY	-9%

Assets & ROA

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Stockholders Equity & ROE

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Phibro Animal Health Corp operates as a diversified animal health and mineral nutrition company. It develops, manufactures, and markets products for a range of food animals comprising poultry, swine, beef and dairy cattle, and aquaculture. The product portfolio of the company includes animal health products such as antibacterials, anticoccidials, nutritional specialty products and vaccines, and mineral nutrition products. The company operates through three segments, Animal Health, Mineral Nutrition, and Performance Products, of which key revenue is derived from the Animal Health segment which relates to the development, manufacturing, and marketing of antibacterials, nutritional specialty products, and vaccines. The entity sells its products in the US and other international countries.

SEC Filings

Direct access to Phibro Animal Health Corp (PAHC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

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

Sector Comparison

How does Phibro Animal Health Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Phibro Animal Health Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -18%

Stability 55%

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Phibro Animal Health Corp Discounted Cash Flow

Fully customizable DCF calculator online for Phibro Animal Health Corp.

Years

Calculation mode

= $125M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$15M	$15M	$14M	$14M	$14M	$13M	$13M	$12M	$12M	$12M	$11M	$112M
DCF		$14M	$12M	$10M	$9.2M	$8.1M	$7.2M	$6.3M	$5.6M	$4.9M	$4.3M	$43M
Value	$125M

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	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Net Margins	8%	11%	8%	8%	7%	4%	7%	5%	3%	0%	2%
ROA	-	14%	16%	15%	11%	9%	9%	8%	7%	5%	6%
ROE	-	91%	43%	35%	25%	18%	23%	19%	12%	1%	8%

Bad Net Margins (1.78%)

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	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	331.42	3.31	4.98	14.11	9.39	16.2	-83.18	-9.3	7.4	43.22
Debt over Equity	9.79	3.17	1.7	1.39	1.13	1.26	1.29	1.71	1.27	1.34	2.68
Growth Stability	-	-	-	94%	77%	55%	100%	100%	71%	5%	5%

Bad Debt/FCF ratio (43.22)

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

Bad Debt/Equity ratio (2.68)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (5%)

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	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	0%	2%	7%	1%	-3%	4%	13%	4%	4%	7%
Earnings YoY growth	-	37%	-22%	0%	-16%	-39%	62%	-10%	-34%	-93%	-28%
Equity YoY growth	-	205%	67%	22%	17%	-13%	27%	10%	8%	-9%	7%
FCF YoY growth	-	-98%	9K%	-34%	-66%	46%	-25%	-128%	613%	-220%	1%