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Phibro Animal Health

Nasdaq:PAHC
Snowflake Description

Good value with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PAHC
Nasdaq
$1B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Phibro Animal Health Corporation operates as a diversified animal health and mineral nutrition company primarily in the United States. The last earnings update was 43 days ago. More info.


Add to Portfolio Compare Print
  • Phibro Animal Health has significant price volatility in the past 3 months.
PAHC Share Price and Events
7 Day Returns
3.2%
NasdaqGM:PAHC
-0.6%
US Pharmaceuticals
0.3%
US Market
1 Year Returns
-39.3%
NasdaqGM:PAHC
6.1%
US Pharmaceuticals
0.7%
US Market
PAHC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Phibro Animal Health (PAHC) 3.2% 0.2% -9.4% -39.3% 47.5% 37.5%
US Pharmaceuticals -0.6% 0.2% -3% 6.1% 9% 13.8%
US Market 0.3% 0.4% 0.6% 0.7% 37.2% 37.4%
1 Year Return vs Industry and Market
  • PAHC underperformed the Pharmaceuticals industry which returned 6.1% over the past year.
  • PAHC underperformed the Market in United States of America which returned 0.7% over the past year.
Price Volatility
PAHC
Industry
5yr Volatility vs Market

Value

 Is Phibro Animal Health undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Phibro Animal Health to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Phibro Animal Health.

NasdaqGM:PAHC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:PAHC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.64 (1 + (1- 21%) (28.13%))
0.854
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.854 * 5.96%)
7.82%

Discounted Cash Flow Calculation for NasdaqGM:PAHC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Phibro Animal Health is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGM:PAHC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.82%)
2019 77.00 Analyst x1 71.42
2020 82.00 Analyst x1 70.54
2021 92.00 Analyst x1 73.40
2022 100.16 Est @ 8.87% 74.12
2023 107.20 Est @ 7.03% 73.58
2024 113.35 Est @ 5.74% 72.16
2025 118.83 Est @ 4.84% 70.16
2026 123.83 Est @ 4.2% 67.81
2027 128.49 Est @ 3.76% 65.26
2028 132.92 Est @ 3.45% 62.61
Present value of next 10 years cash flows $701.05
NasdaqGM:PAHC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $132.92 × (1 + 2.73%) ÷ (7.82% – 2.73%)
$2,683.64
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,683.64 ÷ (1 + 7.82%)10
$1,264.14
NasdaqGM:PAHC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $701.05 + $1,264.14
$1,965.19
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,965.19 / 40.45
$48.58
NasdaqGM:PAHC Discount to Share Price
Calculation Result
Value per share (USD) From above. $48.58
Current discount Discount to share price of $28.93
= -1 x ($28.93 - $48.58) / $48.58
40.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Phibro Animal Health is available for.
Intrinsic value
40%
Share price is $28.93 vs Future cash flow value of $48.58
Current Discount Checks
For Phibro Animal Health to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Phibro Animal Health's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Phibro Animal Health's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Phibro Animal Health's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Phibro Animal Health's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:PAHC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.68
NasdaqGM:PAHC Share Price ** NasdaqGM (2019-06-17) in USD $28.93
United States of America Pharmaceuticals Industry PE Ratio Median Figure of 29 Publicly-Listed Pharmaceuticals Companies 17.22x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Phibro Animal Health.

NasdaqGM:PAHC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:PAHC Share Price ÷ EPS (both in USD)

= 28.93 ÷ 1.68

17.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Phibro Animal Health is good value based on earnings compared to the US Pharmaceuticals industry average.
  • Phibro Animal Health is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Phibro Animal Health's expected growth come at a high price?
Raw Data
NasdaqGM:PAHC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
2.2%per year
United States of America Pharmaceuticals Industry PEG Ratio Median Figure of 21 Publicly-Listed Pharmaceuticals Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NasdaqGM:PAHC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.17x ÷ 2.2%

7.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Phibro Animal Health is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Phibro Animal Health's assets?
Raw Data
NasdaqGM:PAHC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $5.28
NasdaqGM:PAHC Share Price * NasdaqGM (2019-06-17) in USD $28.93
United States of America Pharmaceuticals Industry PB Ratio Median Figure of 183 Publicly-Listed Pharmaceuticals Companies 3.26x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NasdaqGM:PAHC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:PAHC Share Price ÷ Book Value per Share (both in USD)

= 28.93 ÷ 5.28

5.48x

* Primary Listing of Phibro Animal Health.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Phibro Animal Health is overvalued based on assets compared to the US Pharmaceuticals industry average.
X
Value checks
We assess Phibro Animal Health's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Phibro Animal Health has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Phibro Animal Health expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Phibro Animal Health expected to grow at an attractive rate?
  • Phibro Animal Health's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Phibro Animal Health's earnings growth is positive but not above the United States of America market average.
  • Phibro Animal Health's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:PAHC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:PAHC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 2.2%
NasdaqGM:PAHC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.2%
United States of America Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 14.7%
United States of America Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:PAHC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:PAHC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 943 1
2022-06-30 918 1
2021-06-30 888 134 66 4
2020-06-30 858 124 59 5
2019-06-30 830 119 59 5
NasdaqGM:PAHC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 836 42 68
2018-12-31 839 50 73
2018-09-30 827 66 65
2018-06-30 820 70 65
2018-03-31 803 73 58
2017-12-31 784 88 62
2017-09-30 770 82 68
2017-06-30 764 98 65
2017-03-31 759 111 64
2016-12-31 752 79 59
2016-09-30 752 61 76
2016-06-30 752 37 83

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Phibro Animal Health's earnings are expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
  • Phibro Animal Health's revenue is expected to grow by 3.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:PAHC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Phibro Animal Health Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:PAHC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 1.58 1.58 1.58 1.00
2020-06-30 1.42 1.49 1.36 2.00
2019-06-30 1.41 1.43 1.39 2.00
NasdaqGM:PAHC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.68
2018-12-31 1.81
2018-09-30 1.62
2018-06-30 1.61
2018-03-31 1.45
2017-12-31 1.55
2017-09-30 1.72
2017-06-30 1.63
2017-03-31 1.63
2016-12-31 1.51
2016-09-30 1.94
2016-06-30 2.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Phibro Animal Health is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Phibro Animal Health's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Phibro Animal Health has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Phibro Animal Health performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Phibro Animal Health's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Phibro Animal Health's year on year earnings growth rate has been positive over the past 5 years.
  • Phibro Animal Health's 1-year earnings growth is less than its 5-year average (17% vs 18.8%)
  • Phibro Animal Health's earnings growth has not exceeded the US Pharmaceuticals industry average in the past year (17% vs 40.4%).
Earnings and Revenue History
Phibro Animal Health's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Phibro Animal Health Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:PAHC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 835.90 68.03 169.18
2018-12-31 839.07 73.02 172.29
2018-09-30 826.72 65.31 170.35
2018-06-30 819.98 64.88 167.55
2018-03-31 803.03 58.14 167.15
2017-12-31 783.98 61.95 161.38
2017-09-30 769.71 68.33 158.05
2017-06-30 764.28 64.62 155.81
2017-03-31 758.62 64.46 153.03
2016-12-31 752.22 59.39 151.88
2016-09-30 752.39 76.15 151.55
2016-06-30 751.53 82.73 150.99
2016-03-31 747.30 77.91 152.92
2015-12-31 751.34 76.03 151.66
2015-09-30 748.25 60.10 148.06
2015-06-30 748.59 60.28 144.87
2015-03-31 747.32 32.23 139.83
2014-12-31 733.09 21.91 138.41
2014-09-30 717.14 9.96 136.12
2014-06-30 691.91 -3.13 135.27
2014-03-31 672.44 20.49 121.58 6.60
2013-12-31 661.86 18.30 118.56 6.60
2013-09-30 652.25 23.37 114.45 6.60
2013-06-30 653.15 24.89 118.13
2012-06-30 654.10 6.98 111.77

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Phibro Animal Health has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Phibro Animal Health used its assets more efficiently than the US Pharmaceuticals industry average last year based on Return on Assets.
  • Phibro Animal Health's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Phibro Animal Health's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Phibro Animal Health has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Phibro Animal Health's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Phibro Animal Health's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Phibro Animal Health is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Phibro Animal Health's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Phibro Animal Health's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Phibro Animal Health Company Filings, last reported 2 months ago.

NasdaqGM:PAHC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 213.72 329.23 84.88
2018-12-31 205.22 324.28 80.34
2018-09-30 192.06 324.33 75.86
2018-06-30 184.95 312.38 79.17
2018-03-31 185.55 309.38 75.55
2017-12-31 168.33 316.37 67.19
2017-09-30 169.48 331.85 62.10
2017-06-30 151.16 313.14 56.08
2017-03-31 139.41 309.47 49.31
2016-12-31 112.61 328.53 39.22
2016-09-30 102.28 342.60 37.42
2016-06-30 90.48 350.17 33.61
2016-03-31 77.70 366.42 32.23
2015-12-31 53.31 305.12 25.37
2015-09-30 22.60 306.33 31.82
2015-06-30 29.63 289.52 29.22
2015-03-31 23.08 287.22 20.80
2014-12-31 26.04 287.94 20.69
2014-09-30 21.61 288.66 19.75
2014-06-30 15.15 289.39 11.82
2014-03-31 -78.73 374.47 10.98
2013-12-31 -63.53 363.82 30.47
2013-09-30 -68.94 365.60 27.37
2013-06-30 -68.94 365.60 27.37
2012-06-30 -88.23 350.12 53.90
  • Phibro Animal Health's level of debt (154%) compared to net worth is high (greater than 40%).
  • Phibro Animal Health had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is not well covered by operating cash flow (12.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.6x coverage).
X
Financial health checks
We assess Phibro Animal Health's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Phibro Animal Health has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Phibro Animal Health's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.66%
Current annual income from Phibro Animal Health dividends. Estimated to be 1.83% next year.
If you bought $2,000 of Phibro Animal Health shares you are expected to receive $33 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Phibro Animal Health's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Phibro Animal Health's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:PAHC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:PAHC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 0.59 2.00
2020-06-30 0.52 3.00
2019-06-30 0.50 3.00
NasdaqGM:PAHC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-06 0.480 1.550
2018-11-05 0.480 1.448
2018-07-30 0.400 0.880
2018-05-07 0.400 0.866
2018-02-05 0.400 1.011
2017-07-24 0.400 1.108
2017-05-08 0.400 1.119
2016-11-07 0.400 1.418
2016-07-25 0.400 1.665
2016-05-09 0.400 2.069
2016-02-08 0.400 1.582
2015-11-09 0.400 1.271
2015-07-27 0.400 1.161
2015-05-11 0.400 1.114
2015-02-09 0.400 1.176
2014-11-10 0.400 1.346
2014-07-28 0.400 1.882

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Phibro Animal Health has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Phibro Animal Health only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Phibro Animal Health's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Phibro Animal Health's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Phibro Animal Health afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Phibro Animal Health has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Phibro Animal Health's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jack Bendheim
COMPENSATION $3,312,182
AGE 71
TENURE AS CEO 5.3 years
CEO Bio

Mr. Jack Clifford Bendheim has been the President and Chief Executive Officer of Phibro Animal Health Corporation since 1988 and March 2014, respectively and serves as its Chairman. Mr. Bendheim served as Chief Operating Officer of Phibro Animal Health Corp. from 1988 to 1998 and Chief Executive Officer from 1998 to 2002. Mr. Bendheim joined Phibro Animal Health Corp. in 1969 and served as its Executive Vice President from 1983 to 1988, Treasurer from 1975 until 1988 and as its Vice President and from 1975 to 1983. He was a Co-Founder of PAHC Holdings Corporation. He has been a Director of Phibro Animal Health Corporation since 1984. He was a Director of Empire Resources, Inc. since September 1999 until 2017. He serves as Director at The Berkshire Bank in New York. Mr. Bendheim, together with certain other family members, is a manager of BFI Co., LLC. Mr. Bendheim has many years of experience in the animal health industry and with Phibro Animal Health. Mr. Bendheim is also a past Chairman of the Animal Health Institute.

CEO Compensation
  • Jack's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jack's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Phibro Animal Health management team in years:

4.1
Average Tenure
55
Average Age
  • The tenure for the Phibro Animal Health management team is about average.
Management Team

Jack Bendheim

TITLE
Chairman
COMPENSATION
$3M
AGE
71
TENURE
5.3 yrs

Larry Miller

TITLE
Chief Operating Officer
COMPENSATION
$7M
AGE
54
TENURE
2.9 yrs

Dean Warras

TITLE
Senior Vice President of Strategic Alliances
COMPENSATION
$919K
AGE
49
TENURE
2.9 yrs

Richard Johnson

TITLE
Chief Financial Officer
COMPENSATION
$740K
AGE
69
TENURE
16.8 yrs

Thomas Dagger

TITLE
Senior VP
COMPENSATION
$299K
AGE
60
TENURE
12.6 yrs

Lisa Escudero

TITLE
Senior Vice President of Human Resources
AGE
56
TENURE
2.3 yrs

Daniel Bendheim

TITLE
Executive VP of Corporate Strategy & Director
AGE
46
TENURE
5.3 yrs

Jonathan Bendheim

TITLE
President of MACIE Region
AGE
42

George Moffett

TITLE
Managing Director of Ferro Metal & Chemical Corporation Ltd

Ramon Fuenmayor

TITLE
President South America Region
TENURE
2 yrs
Board of Directors Tenure

Average tenure and age of the Phibro Animal Health board of directors in years:

10
Average Tenure
68
Average Age
  • The average tenure for the Phibro Animal Health board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Daniel Bendheim

TITLE
Executive VP of Corporate Strategy & Director
AGE
46
TENURE
5.6 yrs

Jonathan Bendheim

TITLE
President of MACIE Region
AGE
42
TENURE
0.8 yrs

Sam Gejdenson

TITLE
Independent Non-Executive Director
COMPENSATION
$60K
AGE
70
TENURE
15.4 yrs

Jack Bendheim

TITLE
Chairman
COMPENSATION
$3M
AGE
71

Tom Corcoran

TITLE
Independent Non-Executive Director
COMPENSATION
$50K
AGE
71
TENURE
11.1 yrs

Jerry Carlson

TITLE
Director
COMPENSATION
$40K
AGE
75
TENURE
11.4 yrs

Mary Malanoski

TITLE
Non Executive Director
COMPENSATION
$40K
AGE
61
TENURE
15.1 yrs

Carol Wrenn

TITLE
Director
COMPENSATION
$60K
AGE
57
TENURE
8.9 yrs

George Gunn

TITLE
Independent Director
COMPENSATION
$50K
AGE
68
TENURE
4.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Phibro Animal Health's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Phibro Animal Health has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Despite Its High P/E Ratio, Is Phibro Animal Health Corporation (NASDAQ:PAHC) Still Undervalued?

We'll apply a basic P/E ratio analysis to Phibro Animal Health Corporation's (NASDAQ:PAHC), to help you decide if the stock is worth further research. … View our latest analysis for Phibro Animal Health How Do You Calculate A P/E Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Phibro Animal Health: P/E of 17.22 = $29.01 ÷ $1.68 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Just 2 Days Before Phibro Animal Health Corporation (NASDAQ:PAHC) Will Be Trading Ex-Dividend

View our latest analysis for Phibro Animal Health The reason we need to check these things is that dividends are typically paid from company earnings. … While Phibro Animal Health's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. … Cash is king, as they say, and were Phibro Animal Health to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.

Simply Wall St -

Should You Be Holding Phibro Animal Health Corporation (NASDAQ:PAHC)?

In the case of PAHC, it is a company that has been able to sustain great financial health, trading at an attractive share price. … PAHC's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. … NasdaqGM:PAHC Intrinsic value, May 17th 2019 Next Steps: For Phibro Animal Health, there are three important aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for PAHC’s future growth?

Simply Wall St -

Is Phibro Animal Health Corporation's (NASDAQ:PAHC) ROE Of 36% Impressive?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Phibro Animal Health Corporation (NASDAQ:PAHC). … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.36 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

If You Had Bought Phibro Animal Health (NASDAQ:PAHC) Stock Five Years Ago, You Could Pocket A 108% Gain Today

For instance, the price of Phibro Animal Health Corporation (NASDAQ:PAHC) stock is up an impressive 108% over the last five years. … During five years of share price growth, Phibro Animal Health achieved compound earnings per share (EPS) growth of 25% per year. … This EPS growth is higher than the 16% average annual increase in the share price.

Simply Wall St -

Our Take On Phibro Animal Health Corporation's (NASDAQ:PAHC) CEO Salary

How Does Jack Bendheim's Compensation Compare With Similar Sized Companies. … Our data indicates that Phibro Animal Health Corporation is worth US$1.3b, and total annual CEO compensation is US$3.3m. … We think total compensation is more important but we note that the CEO salary is lower, at US$2.1m

Simply Wall St -

Phibro Animal Health Corporation (NASDAQ:PAHC): 4 Days To Buy Before The Ex-Dividend Date

Phibro Animal Health Corporation (NASDAQ:PAHC) will be distributing its dividend of US$0.12 per share on the 27 March 2019, and will start trading ex-dividend in 4 days time on the 05 March 2019. … Should you diversify into Phibro Animal Health and boost your portfolio income stream? … View our latest analysis for Phibro Animal Health?

Simply Wall St -

Why Phibro Animal Health Corporation's (NASDAQ:PAHC) High P/E Ratio Isn't Necessarily A Bad Thing

To keep it practical, we'll show how Phibro Animal Health Corporation's (NASDAQ:PAHC) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Phibro Animal Health's P/E ratio is 20.76. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Phibro Animal Health Corporation (NASDAQ:PAHC) Is Trading At A 26.86% Discount

Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Phibro Animal Health Corporation (NASDAQ:PAHC) as an investment opportunity. … by projecting its future cash flows and then discounting them to today's value. … If you are reading this and its not January 2019 then I highly recommend you check out the latest calculation for Phibro Animal Health by following the link below

Simply Wall St -

Is Phibro Animal Health Corporation's (NASDAQ:PAHC) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Jack Bendheim's Compensation Compare With Similar Sized Companies. … Our data indicates that Phibro Animal Health Corporation is worth US$1.4b, and total annual CEO compensation is US$3.3m.

Simply Wall St -

Company Info

Description

Phibro Animal Health Corporation operates as a diversified animal health and mineral nutrition company primarily in the United States. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets products for a range of food animals, including poultry, swine, beef and dairy cattle, and aquaculture. Its animal health products also comprise antibacterials that are biological or chemical products used in the animal health industry to treat or to prevent diseases; anticoccidials primarily used to prevent and control the disease coccidiosis in poultry and cattle; anthelmintics to treat infestations of parasitic intestinal worms; and anti-bloat treatment products for cattle to control bloat in animals grazing on legume or wheat-pasture. In addition, the company offers nutritional specialty products, which enhance nutrition to help improve health and performance; and vaccines to prevent diseases primarily for the poultry and swine markets. Further, it manufactures and markets formulations and concentrations of trace minerals, such as zinc, manganese, copper, iron, and other compounds; and various specialty ingredients for use in the personal care, industrial chemical, and chemical catalyst industries. The company sells its animal health and mineral nutrition products through local sales offices to integrated poultry, swine, and cattle integrators, as well as through commercial animal feed manufacturers, wholesalers, and distributors. It also operates in Israel, Latin America, Canada, Europe, Africa, and the Asia/Pacific. The company was formerly known as Philipp Brothers Chemicals, Inc. and changed its name to Phibro Animal Health Corporation in July 2003. The company is headquartered in Teaneck, New Jersey. Phibro Animal Health Corporation is a subsidiary of BFI Co., LLC.

Details
Name: Phibro Animal Health Corporation
PAHC
Exchange: NasdaqGM
Founded:
$1,170,322,879
40,453,608
Website: http://www.pahc.com
Address: Phibro Animal Health Corporation
Glenpointe Centre East,
3rd Floor,
Teaneck,
New Jersey, 07666,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM PAHC Class A Common Stock Nasdaq Global Market US USD 11. Apr 2014
DB PB8 Class A Common Stock Deutsche Boerse AG DE EUR 11. Apr 2014
Number of employees
Current staff
Staff numbers
1,500
Phibro Animal Health employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 00:35
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/06/10
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.