ANIKNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
Anika Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$20.22+0.24 (+1.20%)
Close on Oct 19, 2026
- Market cap
- $277.36M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
56.6%+3.6 pts over 5 years
Operating margin
-9.8%+11.9 pts over 5 years
Net margin
-9.6%+8.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -5.9% | -0.3% | -2.9% | +2.0% | |
| Gross profit | -16.0% | -4.5% | -1.6% | -1.2% | |
| Free cash flow | – | – | -17.5% | -17.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 15.0% | -8.6% | -7.3% | |
| Return on assets | 13.7% | -6.9% | -5.5% | |
| Current ratio | 19.37 | 4.81 | 4.72 | |
| Inventory turnover | 1.6× | 1.8× | 2.3× | |
| Capex to revenue | 13.6% | 1.2% | 6.1% | |
| Diluted shares | 15M | 14M | 14M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Anika Therapeutics generated $31.19M from operations and spent $58.02M on capital expenditure, dividends and share buybacks. 56% of that went back into the business.
Generated
$31.19M
Used
$58.02M
Capital expenditure$32.62M56%Dividends$00%Share buybacks$25.40M44%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-9.6%
×Asset turnover0.57×
×Equity multiplier1.32×
=Return on equity, FY2025-7.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -9.6% | 0.57× | 1.32× | -7.3% |
| FY2024 | -47.0% | 0.51× | 1.29× | -30.8% |
| FY2023 | -68.4% | 0.39× | 1.24× | -33.2% |
| FY2022 | -13.1% | 0.33× | 1.22× | -5.2% |
| FY2021 | 2.8% | 0.41× | 1.27× | 1.5% |
| FY2020 | -18.4% | 0.37× | 1.24× | -8.6% |
| FY2019 | 23.7% | 0.38× | 1.10× | 9.9% |
| FY2018 | 17.7% | 0.38× | 1.07× | 7.1% |
| FY2017 | 28.1% | 0.43× | 1.08× | 13.1% |
| FY2016 | 31.5% | 0.43× | 1.10× | 15.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$10.88M
- Cash generatingOperating cash flow above zero$11.19M
- Return on assets improvedROA up on the prior year-20.8% → -5.4%
- Earnings backed by cashOperating cash flow above net income$11.19M vs -$10.88M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.88 → 4.72
- No dilutionShare count did not rise15M → 14M
- Gross margin improvedGross margin up on the prior year63.38% → 56.56%
- More efficientAsset turnover rose0.44 → 0.56