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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
ANI PHARMACEUTICALS INC is the larger business by last-quarter revenue ($247.1M vs $246.2M, roughly 1.0× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 11.1%, a 28.5% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 29.6%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $29.1M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 9.2%).
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.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
ANIP vs HCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $246.2M |
| Net Profit | $27.5M | $97.7M |
| Gross Margin | — | — |
| Operating Margin | 14.1% | 58.5% |
| Net Margin | 11.1% | 39.7% |
| Revenue YoY | 29.6% | 52.1% |
| Net Profit YoY | 367.5% | 3679.2% |
| EPS (diluted) | $1.14 | $7.29 |
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 | $246.2M | ||
| Q3 25 | $227.8M | $216.3M | ||
| Q2 25 | $211.4M | $221.9M | ||
| Q1 25 | $197.1M | $216.4M | ||
| Q4 24 | $190.6M | $161.9M | ||
| Q3 24 | $148.3M | $175.3M | ||
| Q2 24 | $138.0M | $206.2M | ||
| Q1 24 | $137.4M | $206.6M |
| Q4 25 | $27.5M | $97.7M | ||
| Q3 25 | $26.6M | $65.5M | ||
| Q2 25 | $8.5M | $66.2M | ||
| Q1 25 | $15.7M | $69.7M | ||
| Q4 24 | $-10.3M | $2.6M | ||
| Q3 24 | $-24.2M | $5.7M | ||
| Q2 24 | $-2.3M | $54.1M | ||
| Q1 24 | $18.2M | $47.6M |
| Q4 25 | 14.1% | 58.5% | ||
| Q3 25 | 15.9% | 41.9% | ||
| Q2 25 | 6.6% | 42.5% | ||
| Q1 25 | 13.3% | 46.4% | ||
| Q4 24 | -2.3% | 3.6% | ||
| Q3 24 | -13.8% | 8.0% | ||
| Q2 24 | 3.7% | 36.9% | ||
| Q1 24 | 14.8% | 37.5% |
| Q4 25 | 11.1% | 39.7% | ||
| Q3 25 | 11.7% | 30.3% | ||
| Q2 25 | 4.0% | 29.8% | ||
| Q1 25 | 8.0% | 32.2% | ||
| Q4 24 | -5.4% | 1.6% | ||
| Q3 24 | -16.3% | 3.2% | ||
| Q2 24 | -1.7% | 26.2% | ||
| Q1 24 | 13.2% | 23.0% |
| Q4 25 | $1.14 | $7.29 | ||
| Q3 25 | $1.13 | $4.90 | ||
| Q2 25 | $0.36 | $5.18 | ||
| Q1 25 | $0.69 | $5.35 | ||
| Q4 24 | $-0.45 | $0.32 | ||
| Q3 24 | $-1.27 | $0.52 | ||
| Q2 24 | $-0.14 | $4.24 | ||
| Q1 24 | $0.82 | $3.81 |
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 | $1.2B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $1.0B |
| Total Assets | $1.4B | $2.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $1.2B | ||
| Q3 25 | $262.6M | $987.9M | ||
| Q2 25 | $217.8M | $947.2M | ||
| Q1 25 | $149.8M | $754.5M | ||
| Q4 24 | $144.9M | $532.5M | ||
| Q3 24 | $145.0M | $518.8M | ||
| Q2 24 | $240.1M | $445.8M | ||
| Q1 24 | $228.6M | $655.4M |
| Q4 25 | $540.7M | $1.0B | ||
| Q3 25 | $505.8M | $821.8M | ||
| Q2 25 | $436.8M | $758.6M | ||
| Q1 25 | $418.6M | $522.7M | ||
| Q4 24 | $403.7M | $453.3M | ||
| Q3 24 | $405.9M | $455.3M | ||
| Q2 24 | $455.8M | $447.3M | ||
| Q1 24 | $452.0M | $395.7M |
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $1.3B | $2.0B | ||
| Q2 24 | $920.8M | $1.9B | ||
| Q1 24 | $914.5M | $1.8B |
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 | $444.4M |
| Free Cash FlowOCF − Capex | $29.1M | $440.8M |
| FCF MarginFCF / Revenue | 11.8% | 179.0% |
| Capex IntensityCapex / Revenue | 0.5% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.10× | 4.55× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $771.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $444.4M | ||
| Q3 25 | $44.1M | $26.7M | ||
| Q2 25 | $75.8M | $145.0M | ||
| Q1 25 | $35.0M | $162.0M | ||
| Q4 24 | $15.9M | $331.8M | ||
| Q3 24 | $12.5M | $104.1M | ||
| Q2 24 | $17.4M | $-29.0M | ||
| Q1 24 | $18.3M | $182.0M |
| Q4 25 | $29.1M | $440.8M | ||
| Q3 25 | $38.0M | $25.9M | ||
| Q2 25 | $71.8M | $144.5M | ||
| Q1 25 | $32.5M | $160.3M | ||
| Q4 24 | $13.5M | $327.8M | ||
| Q3 24 | $7.7M | $103.2M | ||
| Q2 24 | $13.0M | $-30.1M | ||
| Q1 24 | $13.7M | $181.0M |
| Q4 25 | 11.8% | 179.0% | ||
| Q3 25 | 16.7% | 12.0% | ||
| Q2 25 | 34.0% | 65.1% | ||
| Q1 25 | 16.5% | 74.1% | ||
| Q4 24 | 7.1% | 202.5% | ||
| Q3 24 | 5.2% | 58.9% | ||
| Q2 24 | 9.4% | -14.6% | ||
| Q1 24 | 10.0% | 87.6% |
| Q4 25 | 0.5% | 1.5% | ||
| Q3 25 | 2.7% | 0.4% | ||
| Q2 25 | 1.9% | 0.2% | ||
| Q1 25 | 1.3% | 0.8% | ||
| Q4 24 | 1.3% | 2.5% | ||
| Q3 24 | 3.2% | 0.5% | ||
| Q2 24 | 3.2% | 0.5% | ||
| Q1 24 | 3.3% | 0.5% |
| Q4 25 | 1.10× | 4.55× | ||
| Q3 25 | 1.66× | 0.41× | ||
| Q2 25 | 8.87× | 2.19× | ||
| Q1 25 | 2.23× | 2.32× | ||
| Q4 24 | — | 128.41× | ||
| Q3 24 | — | 18.33× | ||
| Q2 24 | — | -0.54× | ||
| Q1 24 | 1.00× | 3.82× |
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% |
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
