Latest Ratios: P/E Ratio 28.7x · EV/EBITDA 13.3x · ROE 17.8%. (2000–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.0B | $680M | $555M | $775M | $1.2B | $1.1B | $1.3B | $1.9B | $1.5B | $746M |
| Enterprise Value | $2.1B | $1.7B | $1.1B | $1.0B | $1.2B | $1.5B | $1.4B | $1.6B | $2.1B | $1.7B | $1.1B |
| P/E Ratio → | 28.68 | 21.46 | 279.50 | 16.91 | 15.81 | 21.55 | 31.65 | 23.53 | 28.60 | 23.01 | 9.01 |
| P/S Ratio | 1.07 | 0.80 | 0.67 | 0.57 | 0.82 | 1.40 | 1.33 | 1.55 | 2.27 | 1.94 | 0.99 |
| P/B Ratio | 4.86 | 3.64 | 2.65 | 1.96 | 2.95 | 4.90 | 5.65 | 5.96 | 10.06 | 9.80 | 8.25 |
| P/FCF | 33.08 | 24.85 | 14.66 | — | — | 61.61 | 42.05 | 74.51 | 36.15 | 19.12 | 861.89 |
| P/OCF | 17.27 | 12.97 | 7.76 | 41.69 | 24.48 | 24.21 | 17.93 | 27.29 | 26.57 | 15.06 | 20.05 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.34 | 1.11 | 1.05 | 1.24 | 1.86 | 1.80 | 1.88 | 2.61 | 2.28 | 1.42 |
| EV / EBITDA | 13.31 | 11.10 | 12.68 | 9.67 | 10.48 | 14.48 | 14.17 | 15.43 | 17.03 | 14.04 | 9.76 |
| EV / EBIT | 18.80 | 17.12 | 34.50 | 14.21 | 13.87 | 19.74 | 20.77 | 18.27 | 21.27 | 17.85 | 11.38 |
| EV / FCF | — | 41.43 | 24.47 | — | — | 81.44 | 56.84 | 90.06 | 41.66 | 22.44 | 1230.38 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.9% | 30.9% | 30.8% | 30.5% | 30.3% | 32.6% | 32.1% | 32.0% | 32.5% | 32.5% | 31.8% |
| Operating Margin | 8.5% | 8.5% | 5.2% | 7.3% | 8.4% | 9.0% | 8.6% | 8.9% | 12.1% | 12.8% | 11.4% |
| Net Profit Margin | 3.7% | 3.7% | 0.2% | 3.3% | 5.2% | 6.5% | 4.2% | 6.6% | 7.9% | 8.5% | 11.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.8% | 17.8% | 0.9% | 12.0% | 19.6% | 25.5% | 16.6% | 27.3% | 38.6% | 53.5% | 137.7% |
| ROA | 4.1% | 4.1% | 0.2% | 3.4% | 5.5% | 6.7% | 4.4% | 7.8% | 10.0% | 10.5% | 15.0% |
| ROIC | 9.8% | 9.8% | 5.5% | 7.6% | 9.3% | 9.5% | 9.9% | 11.5% | 16.9% | 18.0% | 18.4% |
| ROCE | 12.0% | 12.0% | 6.8% | 9.4% | 11.1% | 11.5% | 11.5% | 13.3% | 19.1% | 19.4% | 19.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.67 | 2.67 | 2.05 | 1.81 | 1.79 | 1.79 | 2.18 | 1.51 | 1.69 | 2.07 | 3.90 |
| Debt / EBITDA | 4.88 | 4.88 | 5.87 | 4.82 | 4.21 | 4.00 | 4.05 | 3.23 | 2.48 | 2.53 | 3.23 |
| Net Debt / Equity | — | 2.43 | 1.77 | 1.66 | 1.51 | 1.58 | 1.99 | 1.24 | 1.53 | 1.70 | 3.53 |
| Net Debt / EBITDA | 4.44 | 4.44 | 5.08 | 4.43 | 3.55 | 3.53 | 3.69 | 2.66 | 2.25 | 2.07 | 2.92 |
| Debt / FCF | — | 16.58 | 9.81 | — | — | 19.83 | 14.80 | 15.55 | 5.50 | 3.32 | 368.48 |
| Interest Coverage | 3.04 | 3.04 | 1.50 | 4.01 | 6.98 | 7.53 | 4.84 | 6.23 | 7.41 | 5.77 | 5.56 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.76 | 2.76 | 2.94 | 3.33 | 2.97 | 3.04 | 2.87 | 3.02 | 2.90 | 3.14 | 3.15 |
| Quick Ratio | 1.25 | 1.25 | 1.64 | 1.75 | 1.61 | 1.72 | 1.62 | 1.74 | 1.66 | 1.75 | 1.61 |
| Cash Ratio | 0.26 | 0.26 | 0.56 | 0.46 | 0.48 | 0.57 | 0.58 | 0.53 | 0.55 | 0.48 | 0.31 |
| Asset Turnover | — | 0.95 | 1.04 | 1.01 | 1.01 | 0.99 | 1.02 | 1.14 | 1.22 | 1.23 | 1.23 |
| Inventory Turnover | 2.02 | 2.02 | 2.65 | 2.45 | 2.53 | 2.60 | 2.76 | 2.84 | 3.10 | 3.20 | 3.06 |
| Days Sales Outstanding | — | 64.20 | 60.78 | 61.02 | 64.51 | 64.32 | 57.70 | 70.10 | 60.42 | 60.10 | 60.12 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.9% | 2.9% | 3.5% | 2.5% | 1.7% | 1.8% | 1.4% | 0.9% | 1.1% | 2.1% |
| Payout Ratio | 40.3% | 40.3% | 804.7% | 59.6% | 39.5% | 35.7% | 57.9% | 34.0% | 24.8% | 24.5% | 19.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 4.7% | 0.4% | 5.9% | 6.3% | 4.6% | 3.2% | 4.2% | 3.5% | 4.3% | 11.1% |
| FCF Yield | 3.0% | 4.0% | 6.8% | — | — | 1.6% | 2.4% | 1.3% | 2.8% | 5.2% | 0.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.4% | 1.9% | 2.9% | 3.5% | 2.5% | 1.7% | 1.8% | 1.4% | 0.9% | 1.1% | 2.1% |
| Shares Outstanding | — | $41M | $41M | $41M | $41M | $41M | $41M | $41M | $40M | $40M | $40M |
Regulatory MFA Obsolescence Risk
Based on current market data, PAHC trades at a forward P/E of 10.31, which, when compared to the broader healthcare sector and its own historical averages, suggests that investors are pricing in significant terminal value risk regarding the company's core medicated feed additive portfolio.
The disparity between the TTM P/E of 26.63 and the forward multiple indicates that the market anticipates a sharp earnings recovery, likely tied to the recent Zoetis asset acquisition. However, the PEG ratio of 3.56 implies that the current valuation may be overestimating the company's ability to convert top-line expansion into sustainable bottom-line growth.
According to recent financial statements, PAHC's ROIC has remained in a narrow band between 1.6% and 3.9% over the last ten quarters, indicating that the company is struggling to generate returns that meaningfully exceed its cost of capital in its current asset-heavy configuration.
The persistent low ROIC suggests that the capital deployed into manufacturing infrastructure and recent acquisitions has yet to yield the expected efficiency gains. Investors should monitor whether the integration of new portfolios can drive a structural improvement in capital productivity or if the business model remains inherently capital-intensive.
As reported in quarterly filings, the company's cash conversion cycle has remained elevated, reaching 190 days in 2026Q3, which highlights a significant drag on operational efficiency compared to more agile peers in the specialty pharmaceutical and animal health manufacturing space.
The high days inventory outstanding, consistently exceeding 150 days, suggests that the company maintains substantial buffer stocks, likely to mitigate supply chain risks in the livestock feed additive market. This inventory dependence ties up significant cash, limiting the company's flexibility to pivot capital toward higher-growth vaccine initiatives.
Based on the latest balance sheet data, PAHC's debt-to-EBITDA ratio has fluctuated significantly, reaching 13.03 in 2026Q3, a trend that warrants close monitoring as the company utilizes external financing to fund its strategic expansion within the medicated feed additive market.
While the absolute debt-to-equity ratio of 2.18 remains manageable, the volatility in interest coverage, which dipped as low as 0.96 in 2024Q2, suggests that the company's ability to service its debt is highly sensitive to quarterly earnings fluctuations. This leverage profile may limit management's future capital allocation optionality if interest rates remain elevated.
Investors frequently misapply standard P/E multiples to PAHC, failing to account for the significant non-cash depreciation and amortization charges inherent in its asset-heavy manufacturing model, which obscures the company's true underlying cash-generating capacity and operational health.
A more appropriate metric for this business model would be EV/EBITDA or P/FCF, as these ratios better capture the impact of the company's heavy capital expenditure requirements. Relying solely on P/E ignores the structural reality that PAHC must continuously reinvest in its physical infrastructure to maintain its competitive moat.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying PAHC stock.
Phibro Animal Health Corporation's current P/E ratio is 28.7x. The historical average is 21.7x. This places it at the 90th percentile of its historical range.
Phibro Animal Health Corporation's current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.1x.
Phibro Animal Health Corporation's return on equity (ROE) is 17.8%. The historical average is 38.9%.
Based on historical data, Phibro Animal Health Corporation is trading at a P/E of 28.7x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Phibro Animal Health Corporation's current dividend yield is 1.40% with a payout ratio of 40.3%.
Phibro Animal Health Corporation has 30.9% gross margin and 8.5% operating margin.
Phibro Animal Health Corporation's Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.