ANI Pharmaceuticals Inc (ANIP)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	18,779	13,381	-5,159	-26,327	-47,896	-67,789	-63,636	-62,819	-42,603	-22,102	-17,221	-15,451	-22,548	-23,748	-20,287	-1,366	6,094	16,359	17,501	13,693
Total stockholders’ equity	US$ in thousands	432,749	429,861	409,622	314,632	313,690	311,825	312,108	321,244	333,890	191,403	191,917	203,712	195,700	195,100	191,344	201,171	212,791	213,130	207,656	199,712
ROE		4.34%	3.11%	-1.26%	-8.37%	-15.27%	-21.74%	-20.39%	-19.55%	-12.76%	-11.55%	-8.97%	-7.58%	-11.52%	-12.17%	-10.60%	-0.68%	2.86%	7.68%	8.43%	6.86%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $18,779K ÷ $432,749K
= 4.34%

The return on equity (ROE) of ANI Pharmaceuticals Inc has shown a fluctuating trend over the past eight quarters. In Q4 2023, the ROE stood at 3.96%, indicating an improvement from the previous quarter but still at a relatively low level. Prior to that, the ROE had been on a downward trajectory, reaching as low as -14.63% in Q4 2022.

The negative ROE figures in Q1 and Q2 of 2023 suggest that the company's net income was insufficient to generate a positive return for its shareholders during those periods. However, it is worth noting that the ROE has been gradually recovering since then, albeit remaining in single-digit positive territory.

Overall, ANI Pharmaceuticals Inc's ROE performance indicates some challenges in efficiently utilizing shareholder equity to generate profits, although there are recent signs of improvement. Further analysis of the company's financial health and operational efficiency may be necessary to determine the underlying factors contributing to these fluctuations in ROE.