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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) and BALCHEM CORP (BCPC). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($270.7M vs $247.1M, roughly 1.1× ANI PHARMACEUTICALS INC). BALCHEM CORP runs the higher net margin — 14.9% vs 11.1%, a 3.8% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 8.1%). BALCHEM CORP produced more free cash flow last quarter ($33.8M vs $29.1M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 7.5%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
ANIP vs BCPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $270.7M |
| Net Profit | $27.5M | $40.3M |
| Gross Margin | — | — |
| Operating Margin | 14.1% | 20.5% |
| Net Margin | 11.1% | 14.9% |
| Revenue YoY | 29.6% | 8.1% |
| Net Profit YoY | 367.5% | 8.7% |
| EPS (diluted) | $1.14 | $1.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $270.7M | ||
| Q4 25 | $247.1M | $263.6M | ||
| Q3 25 | $227.8M | $267.6M | ||
| Q2 25 | $211.4M | $255.5M | ||
| Q1 25 | $197.1M | $250.5M | ||
| Q4 24 | $190.6M | $240.0M | ||
| Q3 24 | $148.3M | $239.9M | ||
| Q2 24 | $138.0M | $234.1M |
| Q1 26 | — | $40.3M | ||
| Q4 25 | $27.5M | $39.2M | ||
| Q3 25 | $26.6M | $40.3M | ||
| Q2 25 | $8.5M | $38.3M | ||
| Q1 25 | $15.7M | $37.1M | ||
| Q4 24 | $-10.3M | $33.6M | ||
| Q3 24 | $-24.2M | $33.8M | ||
| Q2 24 | $-2.3M | $32.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.6% | ||
| Q3 25 | — | 35.7% | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 36.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 35.5% |
| Q1 26 | — | 20.5% | ||
| Q4 25 | 14.1% | 19.8% | ||
| Q3 25 | 15.9% | 20.4% | ||
| Q2 25 | 6.6% | 20.1% | ||
| Q1 25 | 13.3% | 20.4% | ||
| Q4 24 | -2.3% | 19.8% | ||
| Q3 24 | -13.8% | 20.0% | ||
| Q2 24 | 3.7% | 19.6% |
| Q1 26 | — | 14.9% | ||
| Q4 25 | 11.1% | 14.9% | ||
| Q3 25 | 11.7% | 15.1% | ||
| Q2 25 | 4.0% | 15.0% | ||
| Q1 25 | 8.0% | 14.8% | ||
| Q4 24 | -5.4% | 14.0% | ||
| Q3 24 | -16.3% | 14.1% | ||
| Q2 24 | -1.7% | 13.7% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $1.14 | $1.21 | ||
| Q3 25 | $1.13 | $1.24 | ||
| Q2 25 | $0.36 | $1.17 | ||
| Q1 25 | $0.69 | $1.13 | ||
| Q4 24 | $-0.45 | $1.03 | ||
| Q3 24 | $-1.27 | $1.03 | ||
| Q2 24 | $-0.14 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $285.6M | $72.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $1.3B |
| Total Assets | $1.4B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $72.9M | ||
| Q4 25 | $285.6M | $74.6M | ||
| Q3 25 | $262.6M | $65.1M | ||
| Q2 25 | $217.8M | $65.4M | ||
| Q1 25 | $149.8M | $49.9M | ||
| Q4 24 | $144.9M | $49.5M | ||
| Q3 24 | $145.0M | $73.7M | ||
| Q2 24 | $240.1M | $63.7M |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $540.7M | $1.3B | ||
| Q3 25 | $505.8M | $1.3B | ||
| Q2 25 | $436.8M | $1.3B | ||
| Q1 25 | $418.6M | $1.2B | ||
| Q4 24 | $403.7M | $1.1B | ||
| Q3 24 | $405.9M | $1.2B | ||
| Q2 24 | $455.8M | $1.1B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $920.8M | $1.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $30.4M | $40.1M |
| Free Cash FlowOCF − Capex | $29.1M | $33.8M |
| FCF MarginFCF / Revenue | 11.8% | 12.5% |
| Capex IntensityCapex / Revenue | 0.5% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.10× | 0.99× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.1M | ||
| Q4 25 | $30.4M | $67.3M | ||
| Q3 25 | $44.1M | $65.6M | ||
| Q2 25 | $75.8M | $47.3M | ||
| Q1 25 | $35.0M | $36.5M | ||
| Q4 24 | $15.9M | $52.3M | ||
| Q3 24 | $12.5M | $51.3M | ||
| Q2 24 | $17.4M | $45.0M |
| Q1 26 | — | $33.8M | ||
| Q4 25 | $29.1M | — | ||
| Q3 25 | $38.0M | — | ||
| Q2 25 | $71.8M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | $13.5M | — | ||
| Q3 24 | $7.7M | — | ||
| Q2 24 | $13.0M | — |
| Q1 26 | — | 12.5% | ||
| Q4 25 | 11.8% | — | ||
| Q3 25 | 16.7% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 16.5% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 5.2% | — | ||
| Q2 24 | 9.4% | — |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 3.2% | — |
| Q1 26 | — | 0.99× | ||
| Q4 25 | 1.10× | 1.72× | ||
| Q3 25 | 1.66× | 1.63× | ||
| Q2 25 | 8.87× | 1.23× | ||
| Q1 25 | 2.23× | 0.98× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
BCPC
Segment breakdown not available.
