Equity Brief · Healthcare2026-09-01
ATB.RO·Healthcare

Antibiotice

I · AI Analysis

The brief

Antibiotice manufactures generic medicines across multiple therapeutic categories — anti-infectives (including tuberculosis treatments), cardiovascular drugs, digestive tract and metabolism treatments, and gynecological preparations — available as injectables, tablets, capsules, creams, and suppositories [Yahoo Finance]. The company also produces active pharmaceutical ingredients, biofertilizers, disinfectants, and veterinary medicines, selling into approximately 70 countries from its base in Iași, Romania [Yahoo Finance].

Antibiotice is a Romanian state-controlled pharmaceutical manufacturer producing generic prescription drugs, active ingredients, and veterinary medicines for both the domestic market and exports to roughly 70 countries [Yahoo Finance]. The company is navigating a sharp profit decline while prioritizing a strategic investment program, and recently exceeded a debt threshold with its lenders [Ziarul Financiar]. Its trailing-twelve-month financials show falling revenue, compressed operating margins, and weak cash generation, placing it in a precarious financial position.

The company is under severe financial strain, with falling margins, negative free cash flow, and elevated debt.

The brief AI analysisConfidence 6/10

Sentinellis health

Significant risks

2.9/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

14% of score3.3/10
Net margin+1.3%· need > 5%Gross margin+57.4%

Returns on capital

14% of score0.0/10
ROIC+4.3%· need > 10%Return on equity+0.9%· need > 12%

Growth & momentum

19% of score0.0/10
Revenue growth-4.7%· need > +5% YoYOperating margin trend-10.4pp YoY· need not down > 3pp YoY

Balance sheet

29% of score6.7/10
Current ratio1.2xNet debt / EBITDA4.2x· need < 2.5xInterest coverage14.5xDebt / equity0.38

Cash generation

14% of score3.3/10
Free cash flowRON -111.4M· need positiveCash vs reported profitRON 65.9M vs RON 8.1M

Value creation

10% of score0.0/10
ROIC vs cost of capital-0.2pp· need ROIC above WACC

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

RON 1.3B

Revenue (TTM)

RON 616.6M

II · Recent news

What moved

4 stories · ranked by relevance

  • company2026-08-26

    Bursă. Compania de stat Antibiotice Iaşi a depăşit un prag de îndatorare agreat cu băncile şi a mutat - Ziarul Financiar

    Ziarul Financiar

  • company2026-08-19

    Antibiotice Iași distribuie doar un sfert din profitul net al anului trecut sub formă de dividend, propunere reluată după AGA din primăvară - profit.ro

    profit.ro

  • company2026-08-18

    Antibiotice - profit în scădere abruptă; compania se concentrează pe programul investiţional strategic - Ziarul Bursa

    Ziarul Bursa

  • company2026-08-31

    ZF 7.000. Ce mesaj transmite Ioan Nani, director general Antibiotice, după 7.000 de ediţii de ZF: „Ziarul - Ziarul Financiar

    Ziarul Financiar

Premium · Free with any account

Operating margin fell 10.4 percentage points year-over-year (from 20.3% to 9.9%), meaning the company is earning far less from each unit of revenue even as total sales declined [Yahoo Finance]. This compression is a red flag independent of the investment cycle.

1 of 5 risks in this report

Risks

5

Opportunities

4

Red flags

4

Leadership

8

12 more findings in the full report — free with any account.

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Produced 01 Sept 2026, 08:46 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated