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Toronto-based generic, biosimilar and consumer-health pharmaceutical maker, the largest Canadian-headquartered pharma company, recently listed on the TSX.
Toronto-based generic, biosimilar and consumer-health pharmaceutical maker, the largest Canadian-headquartered pharma company, recently listed on the TSX.
In one line: Canada's Teva/Viatris.
Moat: narrow (scale, regulatory licence). Largest Canadian pharma manufacturing scale and a broad portfolio of regulatory-approved generic/biosimilar filings.
Headquarters: Toronto, Canada · Founded: 1974 · Employees: 6,216
Size Apotex Health (APTX.TO) is a Canada Health Care company (Pharmaceuticals: Major) with a market value of $5.62B, the 111th largest of 420 Canada companies the cockpit tracks. Shares closed at C$34.48 on 6 Nov 2026.
Growth Revenue grew 4.2% over the last twelve months (peer median +10.6%); the operating margin is 32.0% (peer median 14.4%).
Valuation It trades at 18.6× forward earnings against a peer median of 29.7× (5th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -14% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 21.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | C$3.49B | C$3.35B | C$2.94B |
| Revenue growth | — | +4% | +14% | — |
| Gross profit | n/a | C$1.83B | C$1.70B | C$1.05B |
| EBITDA | n/a | C$1.27B | C$1.13B | C$563M |
| Net income | n/a | C$374M | C$152M | -C$147M |
| Free cash flow | n/a | C$520M | C$461M | C$475M |
| Capital expenditure | n/a | C$182M | C$244M | C$112M |
| Total debt | C$3.02B | C$3.52B | C$2.65B | C$1.87B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Apotex Health APTX.TO | $5.62B | n/a | +4% | 32% | 18.6× | -13.5% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
| Viatris VTRS | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% |
| Sandoz SDZ.SW | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | APTX.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.2% | +1.3% | 6th highest of 21 |
| Distance from 52-week high | -14.2% | -27.9% | 7th highest of 21 |
| Revenue growth (TTM) | +4.2% | +10.6% | 6th lowest of 17 |
| Operating margin | 32.0% | 14.4% | 4th highest of 18 |
| Forward P/E | 18.6× | 29.7× | 5th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -13.5% | 6.1% | least demanding of 13 |
| Growth delivered (Del g) | +4.2% | +12.8% | 2nd lowest of 13 |
| Hurdle (Req g minus delivered) | -17.8 pp | -1.0 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +21.3 pp | +1.3 pp | 2nd highest of 18 |
| EV / EBITDA | 8.4× | 21.8× | cheapest of 10 |
| Net debt / EBITDA | 2.2× | 0.1× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Apotex Health APTX.TO | Canada | $5.62B | n/a | +4% | 32% | 18.6× | -13.5% | +4.2% |
| Gland Pharma GLAND.NS | India | $5.53B | +69% | +18% | 20% | 39.0× | 28.0% | +13.3% |
| PTC Therapeutics PTCT | United States | $5.47B | -11% | -35% | 22% | 34.8× | 8.0% | +35.4% |
| Veradermics MANE | United States | $5.80B | +31% | n/a | n/a | n/a | n/a | n/a |
| Supernus Pharmaceuticals SUPN | United States | $5.43B | -49% | +16% | 45% | 6.7× | 4.2% | +13.9% |
| Shanghai Allist Pharmaceuticals 688578.SS | China | $5.90B | -6% | +39% | 47% | 13.8× | 1.8% | +519.6% |
| Abbott India ABBOTINDIA.NS | India | $5.93B | -1% | +6% | 28% | 32.4× | 11.4% | +10.0% |
| Beijing TongRenTang 600085.SS | China | $5.27B | -8% | -17% | 8% | 31.2× | 2.7% | +6.2% |
| Sumitomo Pharma 4506.T | Japan | $5.23B | +7% | +11% | 10% | 8.3× | 1.4% | -2.6% |
| IPCA Laboratories IPCALAB.NS | India | $5.22B | +24% | +11% | 17% | 32.4× | 17.8% | +12.2% |
| Shenzhen Salubris Pharmaceuticals 002294.SZ | China | $5.18B | -39% | +14% | 11% | 41.6× | 15.5% | +9.7% |
| Mirum Pharmaceuticals MIRM | United States | $6.12B | -13% | +42% | -21% | n/a | n/a | n/a |
| Ligand Pharmaceuticals LGND | United States | $6.12B | +38% | +1% | 14% | 28.0× | 57.8% | +7.5% |
| SKBP 326030.KS | South Korea | $5.12B | -11% | +39% | 35% | 21.6× | 0.5% | +93.6% |
| Belite Bio, Inc. ADR BLTE | United States | $6.20B | 0% | n/a | n/a | n/a | n/a | n/a |
| Erasca ERAS | United States | $5.04B | +42% | n/a | n/a | n/a | n/a | n/a |
| Biocon BIOCON.NS | India | $6.28B | -4% | +6% | 8% | 56.4× | n/a | n/a |
| Samsung Epis 0126Z0.KS | South Korea | $6.39B | -36% | n/a | -25% | 24.0× | n/a | n/a |
| Gan & Lee Pharmaceuticals 603087.SS | China | $6.40B | +21% | +14% | 20% | 29.7× | n/a | n/a |
| China Resources Sanjiu Medical & Pharmaceutical 000999.SZ | China | $6.48B | 0% | +4% | 14% | 12.8× | -6.3% | +18.4% |
| Ionis Pharmaceuticals IONS | United States | $6.55B | -48% | -7% | -68% | n/a | n/a | n/a |