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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) and dLocal Ltd (DLO). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $247.1M, roughly 1.4× ANI PHARMACEUTICALS INC). dLocal Ltd runs the higher net margin — 16.5% vs 11.1%, a 5.3% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 29.6%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $29.1M).
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.
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
ANIP vs DLO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $337.9M |
| Net Profit | $27.5M | $55.6M |
| Gross Margin | — | 34.3% |
| Operating Margin | 14.1% | 18.6% |
| Net Margin | 11.1% | 16.5% |
| Revenue YoY | 29.6% | 65.2% |
| Net Profit YoY | 367.5% | 87.3% |
| EPS (diluted) | $1.14 | $0.18 |
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.
| Q4 25 | $247.1M | $337.9M | ||
| Q3 25 | $227.8M | $282.5M | ||
| Q2 25 | $211.4M | — | ||
| Q1 25 | $197.1M | — | ||
| Q4 24 | $190.6M | $204.5M | ||
| Q3 24 | $148.3M | $185.8M | ||
| Q2 24 | $138.0M | — | ||
| Q1 24 | $137.4M | — |
| Q4 25 | $27.5M | $55.6M | ||
| Q3 25 | $26.6M | $141.3M | ||
| Q2 25 | $8.5M | — | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $-10.3M | $29.7M | ||
| Q3 24 | $-24.2M | $90.8M | ||
| Q2 24 | $-2.3M | — | ||
| Q1 24 | $18.2M | — |
| Q4 25 | — | 34.3% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 40.9% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 14.1% | 18.6% | ||
| Q3 25 | 15.9% | 19.7% | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 13.3% | — | ||
| Q4 24 | -2.3% | 20.7% | ||
| Q3 24 | -13.8% | 22.1% | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | 14.8% | — |
| Q4 25 | 11.1% | 16.5% | ||
| Q3 25 | 11.7% | 50.0% | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 8.0% | — | ||
| Q4 24 | -5.4% | 14.5% | ||
| Q3 24 | -16.3% | 48.9% | ||
| Q2 24 | -1.7% | — | ||
| Q1 24 | 13.2% | — |
| Q4 25 | $1.14 | $0.18 | ||
| Q3 25 | $1.13 | $0.17 | ||
| Q2 25 | $0.36 | — | ||
| Q1 25 | $0.69 | — | ||
| Q4 24 | $-0.45 | $0.09 | ||
| Q3 24 | $-1.27 | $0.09 | ||
| Q2 24 | $-0.14 | — | ||
| Q1 24 | $0.82 | — |
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 | $719.9M |
| Total DebtLower is stronger | — | $86.7M |
| Stockholders' EquityBook value | $540.7M | $569.4M |
| Total Assets | $1.4B | $1.5B |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $719.9M | ||
| Q3 25 | $262.6M | $604.5M | ||
| Q2 25 | $217.8M | — | ||
| Q1 25 | $149.8M | — | ||
| Q4 24 | $144.9M | $425.2M | ||
| Q3 24 | $145.0M | $560.5M | ||
| Q2 24 | $240.1M | — | ||
| Q1 24 | $228.6M | — |
| Q4 25 | — | $86.7M | ||
| Q3 25 | — | $63.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $39.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $540.7M | $569.4M | ||
| Q3 25 | $505.8M | $504.7M | ||
| Q2 25 | $436.8M | — | ||
| Q1 25 | $418.6M | — | ||
| Q4 24 | $403.7M | $489.0M | ||
| Q3 24 | $405.9M | $457.0M | ||
| Q2 24 | $455.8M | — | ||
| Q1 24 | $452.0M | — |
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $920.8M | — | ||
| Q1 24 | $914.5M | — |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $100.4M |
| Free Cash FlowOCF − Capex | $29.1M | $99.8M |
| FCF MarginFCF / Revenue | 11.8% | 29.5% |
| Capex IntensityCapex / Revenue | 0.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.10× | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $378.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $100.4M | ||
| Q3 25 | $44.1M | $315.0M | ||
| Q2 25 | $75.8M | — | ||
| Q1 25 | $35.0M | — | ||
| Q4 24 | $15.9M | $-141.1M | ||
| Q3 24 | $12.5M | $108.3M | ||
| Q2 24 | $17.4M | — | ||
| Q1 24 | $18.3M | — |
| Q4 25 | $29.1M | $99.8M | ||
| Q3 25 | $38.0M | $313.4M | ||
| Q2 25 | $71.8M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | $13.5M | $-141.6M | ||
| Q3 24 | $7.7M | $107.1M | ||
| Q2 24 | $13.0M | — | ||
| Q1 24 | $13.7M | — |
| Q4 25 | 11.8% | 29.5% | ||
| Q3 25 | 16.7% | 110.9% | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 16.5% | — | ||
| Q4 24 | 7.1% | -69.2% | ||
| Q3 24 | 5.2% | 57.6% | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 10.0% | — |
| Q4 25 | 0.5% | 0.2% | ||
| Q3 25 | 2.7% | 0.6% | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.3% | 0.2% | ||
| Q3 24 | 3.2% | 0.7% | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 3.3% | — |
| Q4 25 | 1.10× | 1.80× | ||
| Q3 25 | 1.66× | 2.23× | ||
| Q2 25 | 8.87× | — | ||
| Q1 25 | 2.23× | — | ||
| Q4 24 | — | -4.75× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.00× | — |
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% |
DLO
Segment breakdown not available.
