Latest Ratios: P/E Ratio 13.1x · EV/EBITDA 8.2x · ROE 29.7%. (2000–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.3B | $1.0B | $680M | $555M | $775M | $1.2B | $1.1B | $1.3B | $1.9B | $1.5B |
| Enterprise Value | $2.1B | $2.0B | $1.7B | $1.1B | $1.0B | $1.2B | $1.5B | $1.4B | $1.6B | $2.1B | $1.7B |
| P/E Ratio → | 13.14 | 12.87 | 21.46 | 279.50 | 16.91 | 15.81 | 21.55 | 31.65 | 23.53 | 28.60 | 23.01 |
| P/S Ratio | 0.87 | 0.85 | 0.80 | 0.67 | 0.57 | 0.82 | 1.40 | 1.33 | 1.55 | 2.27 | 1.94 |
| P/B Ratio | 3.51 | 3.34 | 3.64 | 2.65 | 1.96 | 2.95 | 4.90 | 5.65 | 5.96 | 10.06 | 9.80 |
| P/FCF | 61.66 | 130.49 | 24.85 | 14.66 | — | — | 61.61 | 42.05 | 74.51 | 36.15 | 19.12 |
| P/OCF | 19.38 | 18.67 | 12.97 | 7.76 | 41.69 | 24.48 | 24.21 | 17.93 | 27.29 | 26.57 | 15.06 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.33 | 1.34 | 1.11 | 1.05 | 1.24 | 1.86 | 1.80 | 1.88 | 2.61 | 2.28 |
| EV / EBITDA | 8.17 | 8.06 | 11.10 | 12.68 | 9.67 | 10.48 | 14.48 | 14.17 | 15.43 | 17.03 | 14.04 |
| EV / EBIT | 10.40 | 10.89 | 17.12 | 34.50 | 14.21 | 13.87 | 19.74 | 20.77 | 18.27 | 21.27 | 17.85 |
| EV / FCF | — | 204.21 | 41.43 | 24.47 | — | — | 81.44 | 56.84 | 90.06 | 41.66 | 22.44 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.7% | 33.7% | 30.9% | 30.8% | 30.5% | 30.3% | 32.6% | 32.1% | 32.0% | 32.5% | 32.5% |
| Operating Margin | 13.1% | 13.1% | 8.5% | 5.2% | 7.3% | 8.4% | 9.0% | 8.6% | 8.9% | 12.1% | 12.8% |
| Net Profit Margin | 6.6% | 6.6% | 3.7% | 0.2% | 3.3% | 5.2% | 6.5% | 4.2% | 6.6% | 7.9% | 8.5% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.7% | 29.7% | 17.8% | 0.9% | 12.0% | 19.6% | 25.5% | 16.6% | 27.3% | 38.6% | 53.5% |
| ROA | 7.0% | 7.0% | 4.1% | 0.2% | 3.4% | 5.5% | 6.7% | 4.4% | 7.8% | 10.0% | 10.5% |
| ROIC | 14.2% | 14.2% | 9.8% | 5.5% | 7.6% | 9.3% | 9.5% | 9.9% | 11.5% | 16.9% | 18.0% |
| ROCE | 17.6% | 17.6% | 12.0% | 6.8% | 9.4% | 11.1% | 11.5% | 11.5% | 13.3% | 19.1% | 19.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.05 | 2.05 | 2.67 | 2.05 | 1.81 | 1.79 | 1.79 | 2.18 | 1.51 | 1.69 | 2.07 |
| Debt / EBITDA | 3.16 | 3.16 | 4.88 | 5.87 | 4.82 | 4.21 | 4.00 | 4.05 | 3.23 | 2.48 | 2.53 |
| Net Debt / Equity | — | 1.89 | 2.43 | 1.77 | 1.66 | 1.51 | 1.58 | 1.99 | 1.24 | 1.53 | 1.70 |
| Net Debt / EBITDA | 2.91 | 2.91 | 4.44 | 5.08 | 4.43 | 3.55 | 3.53 | 3.69 | 2.66 | 2.25 | 2.07 |
| Debt / FCF | — | 73.72 | 16.58 | 9.81 | — | — | 19.83 | 14.80 | 15.55 | 5.50 | 3.32 |
| Interest Coverage | 3.89 | 3.89 | 3.04 | 1.50 | 4.01 | 6.98 | 7.53 | 4.84 | 6.23 | 7.41 | 5.77 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.96 | 2.96 | 2.76 | 2.94 | 3.33 | 2.97 | 3.04 | 2.87 | 3.02 | 2.90 | 3.14 |
| Quick Ratio | 1.27 | 1.27 | 1.25 | 1.64 | 1.75 | 1.61 | 1.72 | 1.62 | 1.74 | 1.66 | 1.75 |
| Cash Ratio | 0.26 | 0.26 | 0.26 | 0.56 | 0.46 | 0.48 | 0.57 | 0.58 | 0.53 | 0.55 | 0.48 |
| Asset Turnover | — | 1.01 | 0.95 | 1.04 | 1.01 | 1.01 | 0.99 | 1.02 | 1.14 | 1.22 | 1.23 |
| Inventory Turnover | 1.88 | 1.88 | 2.02 | 2.65 | 2.45 | 2.53 | 2.60 | 2.76 | 2.84 | 3.10 | 3.20 |
| Days Sales Outstanding | — | 57.41 | 64.20 | 60.78 | 61.02 | 64.51 | 64.32 | 57.70 | 70.10 | 60.42 | 60.10 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.5% | 1.9% | 2.9% | 3.5% | 2.5% | 1.7% | 1.8% | 1.4% | 0.9% | 1.1% |
| Payout Ratio | 19.5% | 19.5% | 40.3% | 804.7% | 59.6% | 39.5% | 35.7% | 57.9% | 34.0% | 24.8% | 24.5% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.6% | 7.8% | 4.7% | 0.4% | 5.9% | 6.3% | 4.6% | 3.2% | 4.2% | 3.5% | 4.3% |
| FCF Yield | 1.6% | 0.8% | 4.0% | 6.8% | — | — | 1.6% | 2.4% | 1.3% | 2.8% | 5.2% |
| 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% | 1.5% | 1.9% | 2.9% | 3.5% | 2.5% | 1.7% | 1.8% | 1.4% | 0.9% | 1.1% |
| Shares Outstanding | — | $41M | $41M | $41M | $41M | $41M | $41M | $41M | $41M | $40M | $40M |
Includes 30+ ratios · 23 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 13.1x. The historical average is 20.9x. This places it at the 18th percentile of its historical range.
Phibro Animal Health Corporation's current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
Phibro Animal Health Corporation's return on equity (ROE) is 29.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 38.3%.
Based on historical data, Phibro Animal Health Corporation is trading at a P/E of 13.1x. This is at the 18th 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 1.44% with a payout ratio of 19.5%.
Phibro Animal Health Corporation has 33.7% gross margin and 13.1% operating margin. Operating margin between 10-20% is typical for established companies.
Phibro Animal Health Corporation's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Leverage Amplifies Margin Pressure
Metrics are mathematically derived from official filings.
Trailing Multiples Rich Versus Forward Compression
Based on reported figures, PAHC trades at a trailing P/E of 27.70 but a forward P/E of 10.72, a gap that implies the market expects earnings to roughly rebound and expand over the next year rather than remain at trailing levels.
The spread between trailing and forward earnings multiples suggests that current trailing earnings are depressed relative to what consensus anticipates, which is consistent with the thin 3.7% trailing net margin. A PEG of 3.71 indicates the market is paying a substantial premium for the growth embedded in those forward estimates, so investors should treat the valuation as dependent on earnings delivery rather than as an established discount. Relative to Zoetis at a P/E of 13.19, PAHC's trailing multiple looks elevated, but this comparison is distorted by Elanco's negative earnings, so the more meaningful read is the forward multiple against the sector.
Debt Burden Easing Only Through Equity Retention
As reported in financial statements, PAHC's Debt/Equity ratio compressed from 3.20 in 2025Q2 to 1.89 in 2027Q1, yet interest coverage of 4.43 remains well below the 16 to 21 range seen during 2025, signaling reduced cushion.
The improvement in leverage ratios appears driven mainly by equity growth from retained earnings rather than meaningful debt reduction, which means the absolute debt load has not shrunk materially. Interest coverage has compressed from above 19 in early 2025 to 4.43 now, suggesting that debt service has become considerably less comfortable even as the balance sheet ratio improved. Investors should monitor refinancing exposure and whether interest costs continue absorbing a growing share of operating profit.
Operating Gains Eroded Before Reaching Shareholders
According to recent SEC filings, PAHC's operating margin of 12.8% in 2027Q1 falls to a net margin of 7.6%, and the trailing net margin of 3.7% suggests that financing and tax burdens absorb a significant portion of operating profit.
Gross margin has held in a 29% to 36% band, indicating that the product mix is relatively stable, but roughly 20 cents of each gross profit dollar is consumed by operating costs. The gap between operating and net margin points to interest expense as a meaningful drag, which is consistent with the elevated debt load. Earnings quality therefore depends heavily on whether operating margin can expand enough to overwhelm the financing cost burden.
Adequate Current Ratio Masks Thin Cash Buffer
Based on reported figures, PAHC's current ratio of 3.20 and quick ratio of 1.28 look comfortable on paper, but cash of $75.5M against $789M of total debt offers limited absolute cushion.
The current ratio is supported largely by inventory and receivables rather than cash, so the quick ratio of 1.28 is the more informative measure of near-term coverage. Against a debt stack roughly ten times the cash balance, the liquidity position would likely require continued operating cash generation to remain intact under stress. Investors should consider how dependent the position is on working capital conversion, given the volatility observed in quarterly cash flows.
Asset Turnover Hides Working Capital Stretch
As reported in financial statements, PAHC's cash conversion cycle of 204 days in 2027Q1, up from 148 days in 2024Q4, may be partially masked by a high DPO and inventory build rather than improving operational efficiency.
The lengthening cash conversion cycle, driven by inventory days rising from 134 to 196, suggests that growth in revenue is absorbing working capital rather than releasing it. Asset turnover of 0.26 is modest and may not be the right lens for a manufacturer with large fixed-asset and inventory bases, so return on invested capital of 3.3% is a more relevant measure of capital productivity. Analysts should be cautious about crediting the top-line growth to operational efficiency without verifying whether inventory build reflects demand or slower sell-through.