ANIPANI Pharmaceuticals, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (1.7×) and margins widening.
Operating profit is fully backed by cash.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 14% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ANIP?
ANI Pharmaceuticals, Inc. earns 22% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 13 points above what the capital costs: growth creates value
- Operating margin
- 15%
Operating margin · Drug Manufacturers - Specialty & Generic median 11% · 12 months to Q2 2026
- Cash conversion
- 1.66×
Cash conversion · operating cash flow covers the operating profit after tax
- Share count, year on year
- +7.9%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −7.7% |
| FY2021 | −18% |
| FY2022 | −11% |
| FY2023 | 9.7% |
| FY2024 | 0.10% |
| FY2025 | 13% |
Details›
- Gross margin12 months to Q2 2026
- 60%
- Operating margin12 months to Q2 2026
- 15%
- Net margin12 months to Q2 2026
- 11%
- Free cash flow margin
- 18%
- R&D as % of revenue
- 5.1%
- Revenue, trailing twelve months
- $978M
- Free cash flow, trailing twelve months
- $173M
- Net income, trailing twelve months
- $108M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 22%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Drug Manufacturers, Specialty & Generic
Ranks #9 of 41 by RyuScore