Phibro Animal Health Corporation
- Open
- 34.64
- Day high
- 34.96
- Day low
- 33.25
- Prev close
- 34.52
- Volume
- 235K
- Mkt cap
- $1.4B
- P/E (TTM)
- 14.2
- EPS (TTM)
- $2.34
- P/B
- 3.7
- P/S
- 0.9
- Yield
- 1.44%
- Per share
- $0.48
- ▼Insiders net selling -$3.0M over the last 3 months (1 open-market buy, 19 sales)
- 🏛Institutions mixed (13F)
Phibro Animal Health Corporation (PAHC) is a Healthcare company listed on NASDAQ. The stock is up 13% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 19 sales (SEC Form 4).
Phibro Animal Health Corporation (PAHC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PAHC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.72 | $0.76 | +5.6% | $384M | +4.5% |
| Feb 4, 2026 | $0.69 | $0.87 | +26.1% | $374M | +2.4% |
| Nov 5, 2025 | $0.59 | $0.73 | +23.7% | $364M | +5.3% |
| Aug 27, 2025 | $0.52 | $0.57 | +9.6% | $379M | +4.5% |
| May 7, 2025 | $0.52 | $0.63 | +21.2% | $348M | -4.0% |
| Feb 5, 2025 | $0.40 | $0.54 | +35.0% | $309M | -10.9% |
| Nov 7, 2024 | $0.25 | $0.35 | +40.0% | $260M | +6.6% |
| Aug 28, 2024 | $0.34 | $0.41 | +20.6% | $273M | +3.8% |
| Feb 7, 2024 | $0.27 | $0.33 | +22.2% | $250M | -0.5% |
| Aug 30, 2023 | $0.40 | $0.38 | -5.0% | $255M | +7.0% |
| May 3, 2023 | $0.34 | $0.29 | -14.7% | $246M | -5.0% |
| Feb 8, 2023 | $0.30 | $0.34 | +13.3% | $245M | +1.4% |
PAHC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Bendheim Daniel Mdirector, officer: President and CEO | Grant | 300,000 | — |
| Jun 2, 2026 | CORCORAN E THOMASdirector | Buy | 10,000 | $31.77 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 776 | $56.37 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 1,406 | $58.13 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 6,264 | $55.73 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 5,634 | $57.18 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 1,149 | $48.31 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 1,350 | $47.59 |
| May 7, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 2,029 | $49.19 |
| Apr 30, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 5,805 | $52.65 |
| Apr 30, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 1,652 | $55.10 |
| Apr 30, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 797 | $56.69 |
| Apr 30, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 4,591 | $56.06 |
| Apr 30, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 3,038 | $53.21 |
| Apr 30, 2026 | BENDHEIM JACKdirector, 10 percent owner, officer: President and CEO | Sell | 4,002 | $52.70 |
Source: PAHC SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full PAHC insider & 13F page →Phibro Animal Health Corporation company profile
Overview
Phibro Animal Health Corporation (NASDAQ:PAHC) is a specialty animal health company that develops, manufactures, and markets products for livestock and companion animals. Founded as Philipp Brothers Chemicals in the early 20th century, the company changed its name to Phibro Animal Health Corporation in 2003 and went public in 2014. Headquartered in Teaneck, New Jersey, Phibro operates globally with manufacturing facilities in the United States, Brazil, and Ireland, serving customers across North America, Latin America, Europe, Asia Pacific, and other international markets.
Business
Phibro Animal Health operates in the animal health industry, which encompasses products designed to prevent disease, treat illness, and enhance the performance of livestock and companion animals. The company's business is organized into three primary segments that collectively generated over $1 billion in annual revenue. The Animal Health segment represents approximately 70% of total revenue and focuses on products for food-producing animals including poultry, swine, beef cattle, dairy cattle, and aquaculture species. This segment includes several key product categories: Medicated Feed Additives (MFAs) are antibacterial products mixed into animal feed to prevent or treat bacterial diseases - these represent the largest portion of the segment's revenue. Vaccines are biological products that stimulate immune responses to prevent diseases, particularly important for poultry and swine operations. Nutritional Specialty Products are feed additives that enhance animal nutrition and performance without being classified as drugs. The segment also includes anticoccidials (products that prevent coccidiosis, a parasitic disease), anthelmintics (treatments for intestinal worms), and anti-bloat treatments for cattle. The Mineral Nutrition segment accounts for roughly 25% of revenue and manufactures trace mineral supplements essential for animal health. These products contain concentrated formulations of zinc, manganese, copper, iron, and other minerals that are added to animal feed to prevent deficiency diseases and optimize growth and reproduction. The Performance Products segment represents approximately 5% of revenue and produces specialty chemical ingredients used in personal care products, industrial applications, and chemical catalysts - serving markets outside of animal agriculture.
Revenue model
Phibro generates revenue primarily through direct product sales to customers in the animal agriculture industry. The company's business model centers on manufacturing and selling specialized chemical and biological products that are essential inputs for livestock production operations. The primary customers are integrated animal protein producers (large companies that control multiple stages of meat production from breeding to processing), commercial feed manufacturers who incorporate Phibro's products into animal feeds, and distributors and wholesalers who resell products to smaller agricultural operations. Revenue is generated when these customers purchase products for use in their animal production systems. Several factors influence Phibro's profitability margins. Positive margin drivers include the company's ability to implement price increases during periods of strong demand, favorable product mix shifts toward higher-margin vaccines and specialty products, operational efficiency improvements through the "Phibro Forward" initiative, and the integration of acquired assets like the Zoetis MFA portfolio. Negative margin pressures come from rising input costs for raw materials and energy, competitive pricing pressure in commodity-like MFA products, regulatory compliance costs, tariff impacts on imported materials, and the cyclical nature of livestock markets which can affect customer demand and pricing power. The company's recent acquisition of Zoetis' MFA business significantly expanded its product portfolio and customer base, representing a strategic move to gain scale in the core medicated feed additive market. This acquisition model of growth through strategic purchases of complementary product lines appears to be a key component of Phibro's expansion strategy.
Competitive moat
Phibro Animal Health operates in a specialized niche with moderate competitive advantages, though its moat is not exceptionally deep. The company's primary competitive strengths include regulatory barriers to entry, as animal health products require extensive regulatory approvals from agencies like the FDA, creating time and cost barriers for new entrants. The company also benefits from established customer relationships with major integrated animal protein producers who value reliable supply and technical support, creating switching costs. Product specialization provides some protection, particularly in vaccines and nutritional specialty products where Phibro has developed specific formulations and manufacturing expertise. The company's global manufacturing footprint and distribution network also create operational advantages over smaller competitors. However, Phibro faces significant competitive threats that limit its moat strength. Large pharmaceutical companies like Zoetis, Merck Animal Health, and Elanco have substantially greater resources for research and development, broader product portfolios, and stronger relationships with major customers. The MFA business, while large, is relatively commoditized with limited differentiation opportunities. Generic competition poses ongoing pressure as patents expire on proprietary products. The company's small size relative to industry leaders also limits its ability to invest in breakthrough innovations or acquire significant assets. While Phibro has carved out a profitable niche, its competitive position is more defensive than dominant, requiring continuous operational excellence and strategic acquisitions to maintain market share against better-resourced competitors.
Risks & safety
Phibro Animal Health presents a moderate margin of safety profile with manageable financial risks but some leverage concerns. • Liquidity and Cash Flow: Strong current ratio of 2.91x and $60.4M in cash provides adequate short-term liquidity. Operating cash flow of $43.2M and free cash flow of $35.4M in Q3 2025 demonstrate healthy cash generation capability. • Debt and Solvency: Elevated debt-to-equity ratio of 2.89x raises some concern, though this is partially due to acquisition financing. Total liabilities of $1.05B against $1.32B in assets shows reasonable asset coverage. • Valuation Metrics: Trading at 10.4x P/E ratio and 7.7x EV/EBITDA suggests reasonable valuation relative to earnings. Price-to-book ratio of 3.25x is elevated but not extreme for a specialty pharmaceutical company. • Other Considerations: Recent Zoetis acquisition adds integration risk but also growth potential. Exposure to agricultural commodity cycles and regulatory changes creates some earnings volatility. "Phibro Forward" cost reduction initiative should provide operational improvements.
Recent development
Over the past few years, Phibro has pursued a strategy focused on operational excellence and strategic acquisitions to drive growth. The most significant development was the acquisition of Zoetis' Medicated Feed Additive (MFA) portfolio, which closed in late 2024 and added approximately $200 million in annual revenue. This acquisition substantially expanded Phibro's presence in the core MFA market and provided access to new customer relationships. The company launched the "Phibro Forward" strategic initiative aimed at driving operational excellence through revenue growth opportunities, cost savings, procurement optimization, and supply chain improvements. Management expects this program to deliver increasing benefits through fiscal years 2026 and 2027. Manufacturing expansion has been another key focus, with investments in expanded capacity at the Illinois facility, a new autogenous vaccine facility in Brazil, and the operational vaccine facility in Sligo, Ireland. These investments support both organic growth and improved operational efficiency. In the product development arena, Phibro has continued investing in its companion animal pipeline, though it discontinued one atopic dermatitis project that did not meet target specifications. The company has also been developing vaccines for diseases like African swine fever, though regulatory challenges have required strategic pivots in some markets. The company has been actively managing pricing strategies to offset inflationary pressures on input costs, implementing targeted price increases and freight surcharges across its product portfolio. Recent quarters have shown improved margins as these pricing actions take effect alongside operational improvements.
PAHC company profile · for informational purposes only — not investment advice.
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