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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
ANI PHARMACEUTICALS INC is the larger business by last-quarter revenue ($247.1M vs $148.3M, roughly 1.7× Shoals Technologies Group, Inc.). ANI PHARMACEUTICALS INC runs the higher net margin — 11.1% vs 5.5%, a 5.7% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 29.6%). ANI PHARMACEUTICALS INC produced more free cash flow last quarter ($29.1M vs $-11.3M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 27.8%).
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.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
ANIP vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $148.3M |
| Net Profit | $27.5M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 14.1% | 11.7% |
| Net Margin | 11.1% | 5.5% |
| Revenue YoY | 29.6% | 38.6% |
| Net Profit YoY | 367.5% | 3.9% |
| EPS (diluted) | $1.14 | $0.05 |
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 | $148.3M | ||
| Q3 25 | $227.8M | $135.8M | ||
| Q2 25 | $211.4M | $110.8M | ||
| Q1 25 | $197.1M | $80.4M | ||
| Q4 24 | $190.6M | $107.0M | ||
| Q3 24 | $148.3M | $102.2M | ||
| Q2 24 | $138.0M | $99.2M | ||
| Q1 24 | $137.4M | $90.8M |
| Q4 25 | $27.5M | $8.1M | ||
| Q3 25 | $26.6M | $11.9M | ||
| Q2 25 | $8.5M | $13.9M | ||
| Q1 25 | $15.7M | $-282.0K | ||
| Q4 24 | $-10.3M | $7.8M | ||
| Q3 24 | $-24.2M | $-267.0K | ||
| Q2 24 | $-2.3M | $11.8M | ||
| Q1 24 | $18.2M | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | 14.1% | 11.7% | ||
| Q3 25 | 15.9% | 13.7% | ||
| Q2 25 | 6.6% | 14.4% | ||
| Q1 25 | 13.3% | 5.4% | ||
| Q4 24 | -2.3% | 15.4% | ||
| Q3 24 | -13.8% | 4.4% | ||
| Q2 24 | 3.7% | 18.7% | ||
| Q1 24 | 14.8% | 12.8% |
| Q4 25 | 11.1% | 5.5% | ||
| Q3 25 | 11.7% | 8.7% | ||
| Q2 25 | 4.0% | 12.5% | ||
| Q1 25 | 8.0% | -0.4% | ||
| Q4 24 | -5.4% | 7.3% | ||
| Q3 24 | -16.3% | -0.3% | ||
| Q2 24 | -1.7% | 11.9% | ||
| Q1 24 | 13.2% | 5.3% |
| Q4 25 | $1.14 | $0.05 | ||
| Q3 25 | $1.13 | $0.07 | ||
| Q2 25 | $0.36 | $0.08 | ||
| Q1 25 | $0.69 | $0.00 | ||
| Q4 24 | $-0.45 | $0.04 | ||
| Q3 24 | $-1.27 | $0.00 | ||
| Q2 24 | $-0.14 | $0.07 | ||
| Q1 24 | $0.82 | $0.03 |
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 | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $600.0M |
| Total Assets | $1.4B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $7.3M | ||
| Q3 25 | $262.6M | $8.6M | ||
| Q2 25 | $217.8M | $4.7M | ||
| Q1 25 | $149.8M | $35.6M | ||
| Q4 24 | $144.9M | $23.5M | ||
| Q3 24 | $145.0M | $11.1M | ||
| Q2 24 | $240.1M | $3.2M | ||
| Q1 24 | $228.6M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $540.7M | $600.0M | ||
| Q3 25 | $505.8M | $589.6M | ||
| Q2 25 | $436.8M | $575.4M | ||
| Q1 25 | $418.6M | $558.9M | ||
| Q4 24 | $403.7M | $556.8M | ||
| Q3 24 | $405.9M | $545.2M | ||
| Q2 24 | $455.8M | $544.6M | ||
| Q1 24 | $452.0M | $554.0M |
| Q4 25 | $1.4B | $904.1M | ||
| Q3 25 | $1.4B | $851.8M | ||
| Q2 25 | $1.3B | $795.0M | ||
| Q1 25 | $1.3B | $788.4M | ||
| Q4 24 | $1.3B | $793.1M | ||
| Q3 24 | $1.3B | $801.3M | ||
| Q2 24 | $920.8M | $788.4M | ||
| Q1 24 | $914.5M | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.30× |
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 | $-4.1M |
| Free Cash FlowOCF − Capex | $29.1M | $-11.3M |
| FCF MarginFCF / Revenue | 11.8% | -7.6% |
| Capex IntensityCapex / Revenue | 0.5% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.10× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $-4.1M | ||
| Q3 25 | $44.1M | $19.4M | ||
| Q2 25 | $75.8M | $-13.8M | ||
| Q1 25 | $35.0M | $15.6M | ||
| Q4 24 | $15.9M | $14.0M | ||
| Q3 24 | $12.5M | $15.7M | ||
| Q2 24 | $17.4M | $37.8M | ||
| Q1 24 | $18.3M | $12.9M |
| Q4 25 | $29.1M | $-11.3M | ||
| Q3 25 | $38.0M | $9.0M | ||
| Q2 25 | $71.8M | $-26.0M | ||
| Q1 25 | $32.5M | $12.3M | ||
| Q4 24 | $13.5M | $12.5M | ||
| Q3 24 | $7.7M | $13.3M | ||
| Q2 24 | $13.0M | $35.8M | ||
| Q1 24 | $13.7M | $10.4M |
| Q4 25 | 11.8% | -7.6% | ||
| Q3 25 | 16.7% | 6.6% | ||
| Q2 25 | 34.0% | -23.5% | ||
| Q1 25 | 16.5% | 15.4% | ||
| Q4 24 | 7.1% | 11.6% | ||
| Q3 24 | 5.2% | 13.0% | ||
| Q2 24 | 9.4% | 36.1% | ||
| Q1 24 | 10.0% | 11.4% |
| Q4 25 | 0.5% | 4.8% | ||
| Q3 25 | 2.7% | 7.7% | ||
| Q2 25 | 1.9% | 11.0% | ||
| Q1 25 | 1.3% | 4.0% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 3.2% | 2.3% | ||
| Q2 24 | 3.2% | 2.0% | ||
| Q1 24 | 3.3% | 2.7% |
| Q4 25 | 1.10× | -0.50× | ||
| Q3 25 | 1.66× | 1.63× | ||
| Q2 25 | 8.87× | -1.00× | ||
| Q1 25 | 2.23× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | 1.00× | 2.69× |
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% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
