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ANI PHARMACEUTICALS INC（ANIP）与亚什兰（ASH）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是ANI PHARMACEUTICALS INC的1.6倍（$386.0M vs $247.1M），ANI PHARMACEUTICALS INC净利率更高（11.1% vs -3.1%，领先14.2%），ANI PHARMACEUTICALS INC同比增速更快（29.6% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $29.1M），过去两年ANI PHARMACEUTICALS INC的营收复合增速更高（34.1% vs -18.1%）
ANI制药是一家总部位于美国的特种制药企业，专注于研发、生产和销售仿制药及品牌处方药，核心产品覆盖皮肤科、肿瘤、中枢神经系统治疗、抗感染等领域，主要服务美国境内的医疗机构、零售药房和患者群体。
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
ANIP vs ASH — 直观对比
营收规模更大
ASH
是对方的1.6倍
$247.1M
营收增速更快
ANIP
高出34.3%
-4.7%
净利率更高
ANIP
高出14.2%
-3.1%
自由现金流更多
ASH
多$81.9M
$29.1M
两年增速更快
ANIP
近两年复合增速
-18.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $247.1M | $386.0M |
| 净利润 | $27.5M | $-12.0M |
| 毛利率 | — | 27.2% |
| 营业利润率 | 14.1% | -1.6% |
| 净利率 | 11.1% | -3.1% |
| 营收同比 | 29.6% | -4.7% |
| 净利润同比 | 367.5% | 92.7% |
| 每股收益（稀释后） | $1.14 | $-0.26 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ANIPASH
| Q4 25 | $247.1M | $386.0M | ||
| Q3 25 | $227.8M | $477.0M | ||
| Q2 25 | $211.4M | $463.0M | ||
| Q1 25 | $197.1M | $479.0M | ||
| Q4 24 | $190.6M | $405.0M | ||
| Q3 24 | $148.3M | $521.0M | ||
| Q2 24 | $138.0M | $544.0M | ||
| Q1 24 | $137.4M | $575.0M |
净利润ANIPASH
| Q4 25 | $27.5M | $-12.0M | ||
| Q3 25 | $26.6M | $31.0M | ||
| Q2 25 | $8.5M | $-742.0M | ||
| Q1 25 | $15.7M | $31.0M | ||
| Q4 24 | $-10.3M | $-165.0M | ||
| Q3 24 | $-24.2M | $17.0M | ||
| Q2 24 | $-2.3M | $6.0M | ||
| Q1 24 | $18.2M | $120.0M |
毛利率ANIPASH
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 28.5% | ||
| Q1 25 | — | 30.7% | ||
| Q4 24 | — | 27.4% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 34.2% | ||
| Q1 24 | — | 28.0% |
营业利润率ANIPASH
| Q4 25 | 14.1% | -1.6% | ||
| Q3 25 | 15.9% | 12.8% | ||
| Q2 25 | 6.6% | -152.9% | ||
| Q1 25 | 13.3% | 10.6% | ||
| Q4 24 | -2.3% | -44.2% | ||
| Q3 24 | -13.8% | 6.1% | ||
| Q2 24 | 3.7% | -11.2% | ||
| Q1 24 | 14.8% | 3.7% |
净利率ANIPASH
| Q4 25 | 11.1% | -3.1% | ||
| Q3 25 | 11.7% | 6.5% | ||
| Q2 25 | 4.0% | -160.3% | ||
| Q1 25 | 8.0% | 6.5% | ||
| Q4 24 | -5.4% | -40.7% | ||
| Q3 24 | -16.3% | 3.3% | ||
| Q2 24 | -1.7% | 1.1% | ||
| Q1 24 | 13.2% | 20.9% |
每股收益（稀释后）ANIPASH
| Q4 25 | $1.14 | $-0.26 | ||
| Q3 25 | $1.13 | $0.83 | ||
| Q2 25 | $0.36 | $-16.21 | ||
| Q1 25 | $0.69 | $0.65 | ||
| Q4 24 | $-0.45 | $-3.50 | ||
| Q3 24 | $-1.27 | $0.34 | ||
| Q2 24 | $-0.14 | $0.12 | ||
| Q1 24 | $0.82 | $2.39 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $285.6M | $304.0M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $540.7M | $1.9B |
| 总资产 | $1.4B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.74× |
8季度趋势，按日历期对齐
现金及短期投资ANIPASH
| Q4 25 | $285.6M | $304.0M | ||
| Q3 25 | $262.6M | $215.0M | ||
| Q2 25 | $217.8M | $207.0M | ||
| Q1 25 | $149.8M | $168.0M | ||
| Q4 24 | $144.9M | $219.0M | ||
| Q3 24 | $145.0M | $300.0M | ||
| Q2 24 | $240.1M | $399.0M | ||
| Q1 24 | $228.6M | $439.0M |
总债务ANIPASH
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.3B |
股东权益ANIPASH
| Q4 25 | $540.7M | $1.9B | ||
| Q3 25 | $505.8M | $1.9B | ||
| Q2 25 | $436.8M | $1.9B | ||
| Q1 25 | $418.6M | $2.6B | ||
| Q4 24 | $403.7M | $2.6B | ||
| Q3 24 | $405.9M | $2.9B | ||
| Q2 24 | $455.8M | $3.0B | ||
| Q1 24 | $452.0M | $3.1B |
总资产ANIPASH
| Q4 25 | $1.4B | $4.5B | ||
| Q3 25 | $1.4B | $4.6B | ||
| Q2 25 | $1.3B | $4.6B | ||
| Q1 25 | $1.3B | $5.2B | ||
| Q4 24 | $1.3B | $5.2B | ||
| Q3 24 | $1.3B | $5.6B | ||
| Q2 24 | $920.8M | $5.7B | ||
| Q1 24 | $914.5M | $5.9B |
负债/权益比ANIPASH
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.45× | ||
| Q1 24 | — | 0.42× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $30.4M | $125.0M |
| 自由现金流经营现金流 - 资本支出 | $29.1M | $111.0M |
| 自由现金流率自由现金流/营收 | 11.8% | 28.8% |
| 资本支出强度资本支出/营收 | 0.5% | 3.6% |
| 现金转化率经营现金流/净利润 | 1.10× | — |
| 过去12个月自由现金流最近4个季度 | $171.4M | $200.0M |
8季度趋势，按日历期对齐
经营现金流ANIPASH
| Q4 25 | $30.4M | $125.0M | ||
| Q3 25 | $44.1M | $40.0M | ||
| Q2 25 | $75.8M | $115.0M | ||
| Q1 25 | $35.0M | $9.0M | ||
| Q4 24 | $15.9M | $-30.0M | ||
| Q3 24 | $12.5M | $80.0M | ||
| Q2 24 | $17.4M | $127.0M | ||
| Q1 24 | $18.3M | $54.0M |
自由现金流ANIPASH
| Q4 25 | $29.1M | $111.0M | ||
| Q3 25 | $38.0M | $6.0M | ||
| Q2 25 | $71.8M | $95.0M | ||
| Q1 25 | $32.5M | $-12.0M | ||
| Q4 24 | $13.5M | $-53.0M | ||
| Q3 24 | $7.7M | $42.0M | ||
| Q2 24 | $13.0M | $98.0M | ||
| Q1 24 | $13.7M | $20.0M |
自由现金流率ANIPASH
| Q4 25 | 11.8% | 28.8% | ||
| Q3 25 | 16.7% | 1.3% | ||
| Q2 25 | 34.0% | 20.5% | ||
| Q1 25 | 16.5% | -2.5% | ||
| Q4 24 | 7.1% | -13.1% | ||
| Q3 24 | 5.2% | 8.1% | ||
| Q2 24 | 9.4% | 18.0% | ||
| Q1 24 | 10.0% | 3.5% |
资本支出强度ANIPASH
| Q4 25 | 0.5% | 3.6% | ||
| Q3 25 | 2.7% | 7.1% | ||
| Q2 25 | 1.9% | 4.3% | ||
| Q1 25 | 1.3% | 4.4% | ||
| Q4 24 | 1.3% | 5.7% | ||
| Q3 24 | 3.2% | 7.3% | ||
| Q2 24 | 3.2% | 5.3% | ||
| Q1 24 | 3.3% | 5.9% |
现金转化率ANIPASH
| Q4 25 | 1.10× | — | ||
| Q3 25 | 1.66× | 1.29× | ||
| Q2 25 | 8.87× | — | ||
| Q1 25 | 2.23× | 0.29× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.71× | ||
| Q2 24 | — | 21.17× | ||
| Q1 24 | 1.00× | 0.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
