ANI Pharmaceuticals vs Trulieve Cannabis
Trulieve Cannabis is the larger business, with $1.18bn of revenue in fiscal 2025 against $883m for ANI Pharmaceuticals (1.3 times as much). ANI Pharmaceuticals grew faster (43.8% against -0.4%). ANI Pharmaceuticals kept more of each dollar of sales as profit: a net margin of 8.9% against -9.9%.
| Latest fiscal year | ANI PharmaceuticalsANIP, 2025 | Trulieve CannabisTRLV, 2025 |
|---|---|---|
| Revenue | $883m | $1.18bn |
| Revenue growth | 43.8% | -0.4% |
| Net income | $78.3m | −$116m |
| Operating margin | — | 12.1% |
| Net margin | 8.9% | -9.9% |
| Return on equity | 16.6% | -9.7% |
| Free cash flow | $171m | $229m |
| Cash | $286m | $256m |
| Total debt | $309m | $141m |
| Debt to equity | — | 12.3% |
| Dividend per share | — | — |
| Dividend yield | 0.0% | — |
| Share buybacks | $12.2m | — |
| Employees | 970 | 5,000 |
| Market value | $1.61bn | $2.20bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 45 (Weak) | 28 (Weak) |
| Insider trades, 12 months | 0 buys, 50 sales | 0 buys, 7 sales |