Phibro Animal Health Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.pahc.com

Earnings Score
Moat Score
Safety Score

Market Cap $940.10M
PE 54
Debt $305.63M
Cash $51.84M
EV $1.19B
FCF $40.67M

Earnings

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Sales & Net Margins

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Earnings	$17.41M
EBIT	$71.74M
ROE	7%
ROA	7%
FCF	$40.67M
Equity	$258.53M
Growth Stability	5%
PE	54.01
PEG	-1.97
PB	3.64
P/FCF	23.11
P/S	0.9
Price/Cash	0.06
Debt/Equity	1.18
Debt/FCF	7.51
Net Margins	3%
Gross Margins	31%
Op. Margins	7%
Earnings CAGR	-17%
Sales Growth YoY	13%
Sales Growth QoQ	-5%
Sales CAGR	4%
FCF CAGR	-2%
Equity CAGR	22%
Earnings Stability	0.54
Earnings Growth YoY	-187%
Earnings Growth QoQ	828%
Earnings CAGR 5Y	-27%

Sales CAGR 5Y	6%
FCF CAGR 5Y	1%
Equity CAGR 5Y	8%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
FCF CAGR 3Y	93%
Equity CAGR 3Y	1%
Market Cap	$940.10M
Revenue	$1.05B
Dividend Yield	2%
Payout Ratio	112%
Assets	$966.29M
Total Debt	$305.63M
Cash	$51.84M
Shares Outstanding	40.5M
EV	1.19B
Earnings Score	3%
Moat Score	76%
Safety Score	48%
Final Score	42%
Working Capital	393.87M
Current Ratio	3.23
Gross Profit	$328.86M
Shares Growth 3y	0%
Equity Growth QoQ	1%
Equity Growth YoY	-5%

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 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 -17%

Stability 54%

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Phibro Animal Health Corp Discounted Cash Flow

Fully customizable DCF calculator online for Phibro Animal Health Corp.

Years

Calculation mode

= $350M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$41M	$40M	$39M	$38M	$37M	$36M	$36M	$35M	$34M	$33M	$32M	$325M
DCF		$36M	$32M	$29M	$25M	$23M	$20M	$18M	$16M	$14M	$13M	$125M
Value	$350M

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%	3%
ROA	-	14%	16%	15%	11%	9%	9%	8%	7%	5%	7%
ROE	-	91%	43%	35%	25%	18%	23%	19%	12%	1%	7%

Bad Net Margins (2.68%)

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	7.51
Debt over Equity	9.79	3.17	1.7	1.39	1.13	1.26	1.29	1.71	1.27	1.34	1.18
Growth Stability	-	-	-	94%	77%	55%	100%	100%	71%	5%	5%

Bad Debt/FCF ratio (7.51)

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

Neutral Debt/Equity ratio (1.18)

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

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%	6%
Earnings YoY growth	-	37%	-22%	0%	-16%	-39%	62%	-10%	-34%	-93%	-27%
Equity YoY growth	-	205%	67%	22%	17%	-13%	27%	10%	8%	-9%	8%
FCF YoY growth	-	-98%	9K%	-34%	-66%	46%	-25%	-128%	613%	-220%	1%