/
We are a biopharmaceutical company focusing on developing, manufacturing, and commercializing technically challenging generic and proprietary injectable, inhalation, and intranasal products, as well as active pharmaceutical ingredient, or API products. We currently manufacture and sell over 25 prescription pharmaceutical products, and an over-the-counter product, Primatene MIST .
19.50% operating margin is respectable but not wide. ROIC at 8.06%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 1.7% YoY. Margins deteriorated 8.6pp alongside, both lines moving the wrong way.
Free cash flow declined 30% versus the prior year, cash generation momentum has weakened. ROIC dropped from 13.15% to 8.06%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$721M
▼ -1.7% YoY
Net Income (TTM)
$79M
▼ -38.5% YoY
Op. Margin
16.20%
▼ -8.6pp YoY
ROIC
6.47%
▼ -5.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$135M
▼ -29.7% YoY
Op. Cash Flow (TTM)
$169M
▼ -26.8% YoY
Net Debt
$395M
Cash & Equiv.
$292M
5Y CAGR: +15.5%
5Y CAGR: +38.9%
Continue Research