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How Phibro Animal Health (PAHC) makes money

Phibro Animal Health (PAHC) made $387M of revenue in the first quarter fiscal 2027 (Q1 FY27), +6% from a year earlier. Animal Health brought in $293M (76%); Mineral Nutrition brought in $73.6M (19%); Performance Products brought in $20.2M (5%). Of every dollar of revenue, 33¢ was left as gross profit, 13¢ was left as operating profit, 8¢ was left as net earnings.

Drawing the Sankey…

Phibro Animal Health revenue by segment, Q1 FY27Phibro Animal Health revenue by segment, Q1 FY27Animal Health$293MMineral Nutrition$73.6MPerformance Products$20.2M
Phibro Animal Health: revenue by line, Q3 FY25 to Q1 FY27Phibro Animal Health: revenue by line, Q3 FY25 to Q1 FY27Animal HealthMineral NutritionPerformance ProductsAnimal Health: $293M latest$293MMineral Nutrition: $73.6M latest$73.6MPerformance Products: $20.2M latestQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
The mix barely moved between Q3 FY25 and Q1 FY27.
Phibro Animal Health revenue by quarterPhibro Animal Health revenue by quarter$348MQ3 FY25$379MQ4 FY25$364MQ1 FY26$374MQ2 FY26$384MQ3 FY26$397MQ4 FY26$387MQ1 FY27
Phibro Animal Health: where each dollar of revenue goesPhibro Animal Health: where each dollar of revenue goesCost of revenue67¢Gross profit33¢Operating expenses20¢Operating profit13¢Income tax2¢Net earnings8¢Operating cash flow7¢Free cash flow2¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Animal Health$293M75.8%-2%+3%
  ↳ MFAs and other$206M53.4%-0.6%+6%
  ↳ Nutritional Specialties$47.1M12.2%-6%-2%
  ↳ Vaccines$39.5M10.2%-1%-2%
Mineral Nutrition$73.6M19.0%-4%+17%
Performance Products$20.2M5.2%-9%+16%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$387M100.0%
Cost of revenue$258M66.8%
Gross profit$129M33.2%
Operating expenses$78.9M20.4%
Operating profit$49.6M12.8%
Income tax$9.3M2.4%
Net earnings$29.5M7.6%
Operating cash flow$26.1M6.7%
Free cash flow$7.3M1.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$387M+6%
Q4 FY26$397M+5%
Q3 FY26$384M+10%
Q2 FY26$374M+21%
Q1 FY26$364M+40%
Q4 FY25$379M+39%
Q3 FY25$348M+32%

From Phibro Animal Health's 10-Q filed Nov 4, 2026 (on EDGAR).

Questions

How does Phibro Animal Health make money?

Phibro Animal Health (PAHC) made $387M of revenue in the first quarter fiscal 2027 (Q1 FY27), +6% from a year earlier. Animal Health brought in $293M (76%); Mineral Nutrition brought in $73.6M (19%); Performance Products brought in $20.2M (5%). Of every dollar of revenue, 33¢ was left as gross profit, 13¢ was left as operating profit, 8¢ was left as net earnings.

What is Phibro Animal Health's biggest business?

Animal Health: $293M in the first quarter fiscal 2027, 76% of revenue, +3% from a year earlier.

What is Phibro Animal Health's profit margin?

Net earnings were $29.5M, 7.6% of revenue, in the first quarter fiscal 2027; the operating margin was 12.8%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.