Phibro Animal Health (PAHC)

NASDAQHealth CareDrug Manufacturers - Specialty & GenericSnapshot 2026-10-23

$38.80-2.54%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Phibro Animal Health’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2027 · Q2
Revenue	—	392.67M
EPS	—	0.94
FY 2027 · Annual
- revenue	$1.55B–$1.6B	—
Revenue	—	1.58B
EPS	—	3.497
EBITDA	$258M–$268Mnon-GAAP	—
FY 2028 · Annual
Revenue	—	1.63B
EPS	—	3.849

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Quarterly dividend stays at $0.12 per share	A supporting condition in Phibro Animal Health's published investment case. The stated target is Maintain $0.12 quarterly dividend.	Intact	Dividend per share falls below $0.12 in any quarter	Dividend per share: $0.12 per share FY2026-Q3; GAAP. Published target: Maintain $0.12 quarterly dividend. Target period is not explicitly aligned with this observation. Source published May 6, 20260.12 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q3 · Period ending Mar 31, 2026 Source: company_financial_results. Reference: 54790cdc-a9f4-4ae6-9c42-e04a491cbf23. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 quarters including a recent declaration in 2026-Q3 and 2026-Q4. Dividend per share has been consistently maintained at $0.12. Management has reiterated this capital allocation commitment, and the dividend payments have been stable, indicating delivering on this priority. Delivery assessment Oct 24, 2026
Operating income grows at least 10% annually	A primary condition in Phibro Animal Health's published investment case. The stated target is >=10% YoY operating income growth.	Intact	Operating income growth falls below 10% next year	Operating income: $48.157M FY2026-Q4; GAAP. Published target: >=10% YoY operating income growth. Target and observation units differ. Source published Aug 26, 202648,157,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q4 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q4. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Operating income increased from $33.7 million in 2025-Q4 to $48.2 million in 2026-Q4, with Adjusted EBITDA up 39% to $255 million for fiscal 2026. Management's focus on margin expansion and operational improvements is reflected in strong income growth, indicating delivering progress. Delivery assessment Oct 24, 2026
Manage Brazil antimicrobial regulation with limited impact	A supporting condition in Phibro Animal Health's published investment case. The stated target is Limited fiscal 2026 impact from Brazil regulation.	Intact	Brazil regulation causes more than minor sales decline in FY26	Qualitative condition This condition has no defined numerical measure. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 quarters including 2026-Q2 and an earlier April 2026 announcement. Management expects limited impact on fiscal 2026 results due to the 180-day transition period for Brazil's antimicrobial regulations. The company is actively managing this regulatory change, indicating ongoing focus but limited immediate financial impact. Delivery assessment Oct 24, 2026
Net sales grow at least 3% annually	A primary condition in Phibro Animal Health's published investment case. The stated target is >=3% YoY revenue growth.	Intact	YoY revenue growth falls below 3% next year	Revenue growth: 4.77% FY2026-Q4; GAAP. Published target: >=3% YoY revenue growth. Target period is not explicitly aligned with this observation. Source published Aug 26, 20264.766344 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q4 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q4. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Net sales increased from $378.7 million in 2025-Q4 to $396.7 million in 2026-Q4, a 5% growth in the latest quarter. Management consistently emphasized revenue growth across segments, and the financials show delivering progress with steady increases in net sales. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2028 · fiscal year ending 2028-06-30 · fmp

FY2028 EPS: comparable history unavailable.

FY2028 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2028 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	1 / 4
2026-07-25	Unavailable	Unavailable	1 / 4
2026-07-26	Unavailable	Unavailable	1 / 4
2026-07-27	Unavailable	Unavailable	1 / 4
2026-07-28	Unavailable	Unavailable	1 / 4
2026-07-29	Unavailable	Unavailable	1 / 4
2026-07-30	Unavailable	Unavailable	1 / 4
2026-07-31	Unavailable	Unavailable	1 / 4
2026-08-01	Unavailable	Unavailable	1 / 4
2026-08-02	Unavailable	Unavailable	1 / 4
2026-08-03	Unavailable	Unavailable	1 / 4
2026-08-04	Unavailable	Unavailable	1 / 4
2026-08-05	Unavailable	Unavailable	1 / 4
2026-08-06	Unavailable	Unavailable	1 / 4
2026-08-07	Unavailable	Unavailable	1 / 4
2026-08-08	Unavailable	Unavailable	1 / 4
2026-08-09	Unavailable	Unavailable	1 / 4
2026-08-10	Unavailable	Unavailable	1 / 4
2026-08-12	Unavailable	Unavailable	1 / 4
2026-08-13	Unavailable	Unavailable	1 / 4
2026-08-14	Unavailable	Unavailable	1 / 4
2026-08-15	Unavailable	Unavailable	1 / 4
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2026-08-17	Unavailable	Unavailable	1 / 4
2026-08-18	Unavailable	Unavailable	1 / 4
2026-08-19	Unavailable	Unavailable	1 / 4
2026-08-20	Unavailable	Unavailable	1 / 4
2026-08-21	Unavailable	Unavailable	1 / 4
2026-08-22	Unavailable	Unavailable	1 / 4
2026-08-23	Unavailable	Unavailable	1 / 4
2026-08-24	Unavailable	Unavailable	1 / 4
2026-08-25	Unavailable	Unavailable	1 / 4
2026-08-26	Unavailable	Unavailable	1 / 4
2026-08-27	Unavailable	Unavailable	1 / 4
2026-08-28	Unavailable	Unavailable	1 / 4
2026-08-29	Unavailable	Unavailable	3 / 4
2026-08-30	Unavailable	Unavailable	3 / 4
2026-08-31	Unavailable	Unavailable	3 / 4
2026-09-01	Unavailable	Unavailable	3 / 4
2026-09-02	Unavailable	Unavailable	3 / 4
2026-09-03	Unavailable	Unavailable	3 / 4
2026-09-04	Unavailable	Unavailable	3 / 4
2026-09-05	Unavailable	Unavailable	3 / 4
2026-09-06	Unavailable	Unavailable	3 / 4
2026-09-07	Unavailable	Unavailable	3 / 4
2026-09-08	Unavailable	Unavailable	3 / 4
2026-09-09	Unavailable	Unavailable	3 / 4
2026-09-10	Unavailable	Unavailable	3 / 4
2026-09-11	Unavailable	Unavailable	3 / 4
2026-09-12	Unavailable	Unavailable	3 / 4
2026-09-13	Unavailable	Unavailable	3 / 4
2026-09-14	Unavailable	Unavailable	3 / 4
2026-09-15	Unavailable	Unavailable	3 / 4
2026-09-16	Unavailable	Unavailable	3 / 4
2026-09-17	Unavailable	Unavailable	3 / 4
2026-09-18	Unavailable	Unavailable	3 / 4
2026-09-19	Unavailable	Unavailable	3 / 4
2026-09-20	Unavailable	Unavailable	3 / 4
2026-09-21	Unavailable	Unavailable	3 / 4
2026-09-22	Unavailable	Unavailable	3 / 4
2026-09-23	Unavailable	Unavailable	3 / 4
2026-09-24	Unavailable	Unavailable	3 / 4
2026-09-25	Unavailable	Unavailable	3 / 4
2026-09-26	Unavailable	Unavailable	3 / 4
2026-09-27	Unavailable	Unavailable	3 / 3
2026-09-28	Unavailable	Unavailable	3 / 3
2026-09-29	Unavailable	Unavailable	3 / 3
2026-09-30	Unavailable	Unavailable	3 / 3
2026-10-01	Unavailable	Unavailable	3 / 3
2026-10-02	Unavailable	Unavailable	3 / 3
2026-10-03	Unavailable	Unavailable	3 / 3
2026-10-04	Unavailable	Unavailable	3 / 3
2026-10-05	Unavailable	Unavailable	3 / 3
2026-10-06	Unavailable	Unavailable	3 / 3
2026-10-07	Unavailable	Unavailable	3 / 3
2026-10-08	Unavailable	Unavailable	3 / 3
2026-10-09	Unavailable	Unavailable	3 / 3
2026-10-10	Unavailable	Unavailable	3 / 3
2026-10-11	Unavailable	Unavailable	3 / 3
2026-10-12	Unavailable	Unavailable	3 / 3
2026-10-13	Unavailable	Unavailable	3 / 3
2026-10-14	Unavailable	Unavailable	3 / 3
2026-10-15	Unavailable	Unavailable	3 / 3
2026-10-16	Unavailable	Unavailable	3 / 3
2026-10-17	Unavailable	Unavailable	3 / 3
2026-10-18	Unavailable	Unavailable	2 / 3
2026-10-19	Unavailable	Unavailable	2 / 3
2026-10-20	Unavailable	Unavailable	2 / 3
2026-10-21	Unavailable	Unavailable	2 / 3
2026-10-22	Unavailable	Unavailable	2 / 3
2026-10-23	Unavailable	Unavailable	2 / 3
2026-10-24	Unavailable	Unavailable	2 / 3

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	1	3	1
2026-06-01	1	3	1
2026-07-01	1	3	1
2026-08-01	1	3	1
2026-09-01	1	3	1
2026-10-01	1	2	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 2 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Quarterly dividend stays at $0.12 per shareDividend per share: $0.12 per share
Operating income grows at least 10% annuallyOperating income: $48.157M
Manage Brazil antimicrobial regulation with limited impactQualitative condition
Net sales grow at least 3% annuallyRevenue growth: 4.77%

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.5%Typical daily move · historical

Downside history

-52.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Phibro Animal Health outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

PAHC is a growth-and-execution story in a healthcare business, with recent results supporting a multi-year view rather than a turnaround thesis. The thesis is intact, and the evidence points to robust earnings quality and strong recent performance, but risk remains elevated.

What's priced into Phibro Animal Health

The valuation evidence describes PAHC as cheap versus peers, with expectations slightly below the model’s view. Pricing appears justified, and no warning signs of fragile expectations were flagged. The evidence does not specify what earnings assumptions the market already holds.

What the fundamentals likely do

Near term, revenue growth and margin improvement have support from execution: latest-quarter net sales rose 5%, while operating income increased from the prior-year quarter. Adjusted EBITDA rose 39% for fiscal 2026, and management’s stated priorities are on track. Risk remains elevated because the industry has a high rate of earnings misses and PAHC has had a deep miss in its recent history.

What Phibro Animal Health hinges on

The multi-year view depends on continued revenue growth and operating improvement, alongside management maintaining credibility after raising guidance. A guidance reversal would be a serious negative signal. A weakening jobs report could raise recession concerns for cyclical healthcare names, while continued earnings strength from sector peers could support the broader sector backdrop.