ANI Pharmaceuticals vs Corcept Therapeutics
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The short version
- ANI Pharmaceuticals is the larger business, with $883M of revenue in fiscal 2025 against $761M for Corcept Therapeutics.
- ANI Pharmaceuticals grew revenue faster (43.8%, against 12.8%).
- ANI Pharmaceuticals kept more of each dollar of sales as operating profit (12.6% operating margin, against 5.9%).
- ANI Pharmaceuticals turned more of its sales into free cash flow (19.4% FCF margin, against 18.6%).
| Latest fiscal year | ANIP · FY25 | CORT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.6B | $10.2B |
| Revenue | $883M | $761M |
| Free cash flow | $171M | $142M |
| Net income | $78.3M | $99.7M |
| Growth | ||
| Revenue growth | 43.8% | 12.8% |
| 5-year growth | 33.5% | 16.6% |
| Share count change | 9.9% | 5.7% |
| Profitability | ||
| Gross margin | — | 98.3% |
| Operating margin | 12.6% | 5.9% |
| Net margin | 8.9% | 13.1% |
| FCF margin | 19.4% | 18.6% |
| Return on capital | 15.9% | 15.7% |
| Return on equity | 16.6% | 15.0% |
| Balance sheet | ||
| Net debt | $23.7M | −$372M |
| Net debt / EBITDA | 0.1x | −8.1x |
| Dividends and buybacks | $13.4M | $173M |
| Valuation & quality | ||
| P/E | 15.7x | — |
| Piotroski F-score | 6 | 3 |
Revenue
FY16
ANIP $129M
CORT $81.3M
FY17
ANIP $177M
CORT $159M
FY18
ANIP $202M
CORT $251M
FY19
ANIP $207M
CORT $307M
FY20
ANIP $209M
CORT $354M
FY21
ANIP $216M
CORT $366M
FY22
ANIP $316M
CORT $402M
FY23
ANIP $487M
CORT $482M
FY24
ANIP $614M
CORT $675M
FY25
ANIP $883M
CORT $761M
ANIP
CORT
Operating margin
FY16
ANIP 15.6%
CORT 12.5%
FY17
ANIP 16.0%
CORT 33.2%
FY18
ANIP 17.5%
CORT 35.6%
FY19
ANIP 7.9%
CORT 36.4%
FY20
ANIP −7.7%
CORT 36.2%
FY21
ANIP −18.4%
CORT 34.0%
FY22
ANIP −11.2%
CORT 28.0%
FY23
ANIP 9.7%
CORT 22.2%
FY24
ANIP 0.1%
CORT 20.3%
FY25
ANIP 12.6%
CORT 5.9%
ANIP
CORT
Free cash flow
FY16
ANIP $22.9M
CORT $18.2M
FY17
ANIP $29.1M
CORT $60.5M
FY18
ANIP $61.3M
CORT $115M
FY19
ANIP $39.0M
CORT $135M
FY20
ANIP $9.1M
CORT $151M
FY21
ANIP $0.8M
CORT $167M
FY22
ANIP −$40.1M
CORT $120M
FY23
ANIP $110M
CORT $127M
FY24
ANIP $47.8M
CORT $196M
FY25
ANIP $171M
CORT $142M
ANIP
CORT
Return on capital
FY16
ANIP 5.3%
CORT —
FY17
ANIP 5.3%
CORT 99.0%
FY18
ANIP 11.0%
CORT 85.5%
FY19
ANIP 5.8%
CORT 109.6%
FY20
ANIP −3.6%
CORT 116.1%
FY21
ANIP −7.0%
CORT 95.4%
FY22
ANIP −5.2%
CORT 88.4%
FY23
ANIP 8.5%
CORT 87.6%
FY24
ANIP 0.1%
CORT 55.1%
FY25
ANIP 15.9%
CORT 15.7%
ANIP
CORT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.