Anika Therapeutics (ANIK) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Anika Therapeutics

NasdaqGS•Healthcare•Drug Manufacturers - Specialty & Generic

$20.74-0.14(-0.01%)Market open

Market Cap

$276.00M

P/S

2.3x

P/B

2.0x

Anika Therapeutics, Inc., a joint preservation company, focuses on early intervention orthopedics in the United States, Europe, and internationally. The company offers osteoarthritis (OA) pain management products and services, such as Monovisc and Orthovisc, which are single- and multi-injection, HA viscosupplement products indicated for pain relief from OA conditions, as well as Cingal, a non-opioid, single-injection OA pain management product; regenerative solutions, including an HA-based scaffold with bone and tendon fixation components and arthroscopic delivery instruments; Hyalofast, a resorbable scaffold used for single stage cartilage regeneration; and Tactoset injectable bone substitute, an HA-enhanced injectable bone repair therapy designed to treat insufficiency fractures and augment hardware fixation. It also provides Integrity, an HA-based scaffold with bone and tendon fixation components and arthroscopic delivery instruments; non-orthopedic products, including Hyvisc, a high molecular weight injectable HA veterinary product for the treatment of joint dysfunction in horses due to non-infectious synovitis associated with equine OA; Hyalobarrier, an anti-adhesion barrier indicated for use after abdominal-pelvic surgeries; and ophthalmic products; and Anikavisc and Nuvisc high molecular weight HA products. The company was founded in 1983 and is headquartered in Bedford, Massachusetts.

How this company scores

GoodMetricSide Score: 66/100

Strongest: Growth (21/25); weakest: Cash & Earnings Quality (13/25).

Profitability17/25

Growth21/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality13/25

Strengths

Growing revenueLong cash runwayInterest easily coveredProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 127.1x5y range 127.1x – 127.1x

P/S · 2.3x5y range 1.2x – 4.1x

Currently near its 20-quarter median.

P/B · 2.0x5y range 0.9x – 2.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $276.00M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $120.65M
Q. Revenue: $32.61M
TTM EBITDA: $500,000
TTM Op. Income: $-5.12M
Q. Op. Income: $2.95M
TTM Net Income: $-3.78M
Q. Net Income: $3.31M
EPS: $0.25
Shares Out.: $13.33M

$120.65M in TTM revenue grew 31.4% YoY, reaching $32.61M last quarter. TTM EBITDA of $500,000 and TTM operating income of $-5.12M show growth is flowing through to the bottom line. However, net income is negative at $3.78M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 65.1%
EBITDA Margin: 13.7%
Op. Margin: 9.1%
Net Margin: 10.1%

Op. margin of 9.1% is up 23.9% YoY — cost efficiency is improving. Net margin at 10.1% and gross margin of 65.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 161% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.3x
P/B Ratio: 2.0x

P/S of 2.3x and P/B of 2.0x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $183.47M
Cash: $38.41M
Long-Term Debt: N/A
Book Value: $137.28M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-684,000
TTM Free Cash Flow: $562,000
FCF Margin: 0.5%
FCF / Net Income: -0.1

TTM FCF of $562,000 on $-684,000 in operating cash flow. The FCF / Net Income ratio of -0.1x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.