Phibro Animal Health (PAHC) FY2021 results: revenue $833 million, up 4.1% on the year
Phibro Animal Health Corp. (PAHC) reported revenue of $833 million for fiscal 2021, the year ended 30 June 2021, up 4.1% on the year before. Net income was $54 million, up 62.1%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2021.
Revenue
$833 million
+4.1% on the year
FY2014FY2021
Operating margin
9.0%
8.6% a year earlier
FY2014FY2021
Net income
$54 million
+62.1% on the year
FY2014FY2021
Diluted EPS
$1.34
+61.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
833
800
828
+4.1%
Cost of revenue
562
543
563
+3.4%
Gross profit
271
257
265
+5.6%
Gross margin
32.6%
32.1%
32.0%
Research and development
17.8
13.7
12.1
+29.3%
Selling, general and administrative
197
188
181
+4.7%
Operating income
74.9
69.2
83.2
+8.2%
Operating margin
9.0%
8.6%
10.1%
Interest expense
13.7
14.6
13.7
-6.1%
Pre-tax income
66.5
55.5
71.5
+19.7%
Income tax
12.1
22.0
16.8
-45.0%
Effective tax rate
18.2%
39.6%
23.5%
Net income
54.4
33.6
54.7
+62.1%
Net margin
6.5%
4.2%
6.6%
Diluted EPS
$1.34
$0.83
$1.35
+61.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
48.3
59.3
47.2
-18.6%
Capital expenditure
29.3
34.0
29.9
-13.9%
Free cash flow
19.0
25.3
17.3
-25.0%
Free cash flow margin
2.3%
3.2%
2.1%
Cash from investing
-18.6
-120
-14.1
Cash from financing
-17.0
40.9
-4.1
Depreciation and amortisation
31.9
32.3
27.6
-1.4%
Share-based compensation
1.1
2.3
2.3
-50.0%
Dividends paid
19.4
19.4
18.6
+0.1%
Dividend per share
$0.48
$0.48
$0.46
0.0%
Diluted shares, weighted
41m
41m
41m
0.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
239
188
216
+26.7%
Debt
392
387
326
+1.3%
Operating lease liabilities
28.0
17.3
n/a
+62.1%
Other liabilities
183
192
184
-4.6%
Total liabilities and equity
841
784
727
+7.3%
Fixed assets
155
148
140
+4.5%
Goodwill
52.7
52.7
27.3
0.0%
Intangible assets
62.3
71.0
47.5
-12.3%
Investments
43.0
55.0
24.0
-21.8%
Cash and equivalents
50.2
36.3
57.6
+38.2%
Receivables
147
127
159
+16.1%
Inventory
216
197
198
+10.0%
Other assets
115
97.8
72.7
+17.9%
Total assets
841
784
727
+7.3%
10-K for the year ended 30 June 2021, filed 25 August 2021: the filing.