Phibro Animal Health：2024年度报告

Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was requiredto submit such files.)Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☒Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.◻Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financing reporting under Section 404(b) of the Sarbanes Oxley Act (15 U.S.C 7262(b)) by the registered public accountingfirm that prepared or issued its audit reportYes☒No☐If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ The aggregate market value of the registrant’s ClassA common stock and ClassB common stock held by non-affiliates of the registrant was$422,641,765as of December31, 2024, the last business day of the registrant’s most recently completed second fiscal quarter based on the closingprice of the common stock on the Nasdaq Stock Market. The registrant has no non-voting common stock.As of August22, 2025 there were20,367,574shares of the registrant’s ClassA common stock, par value$0.0001per share, and20,166,034 shares of the registrant’s ClassB common stock, par value$0.0001per share, outstanding.DOCUMENTS INCORPORATED BY REFERENCE: Portions of the registrant’s Proxy Statement for the 2025 Annual Meeting of Shareholders (hereinafter referred to as the “2025 ProxyStatement”) are incorporated herein by reference in PartIII of this Annual Report on Form10-K. Such proxy statement will be filed with theSecurities and Exchange Commission within 120days of the registrant’s fiscalyear ended June30,2025. PHIBRO ANIMAL HEALTH CORPORATIONTABLE OF CONTENTS Forward-Looking Statementsand Risk Factors Summary3Market Ranking and Other Industry Data5Trademarks, Service Marks and Trade Names5 PART IItem 1.Business6Item 1A.Risk Factors29Item 1B.Unresolved Staff Comments57Item 1C.Cybersecurity57Item 2.Properties59Item 3.Legal Proceedings60Item 4.Mine Safety Disclosures60PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities61Item 6.(Reserved)62Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations63Item 7A.Quantitative and Qualitative Disclosures About Market Risk85Item 8.Financial Statements and Supplementary Data86Item 9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure132Item 9A.Controls and Procedures132Item 9B.Other Information132Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections132PART IIIItem 10.Directors, Executive Officers and Corporate Governance133Item 11.Executive Compensation133Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters133Item 13.Certain Relationships and Related Transactions, and Director Independence133Item 14.Principal Accountant Fees and Services133PART IVItem 15.Exhibits and Financial Statement Schedules134Item 16.Form 10-K Summary138SIGNATURES139 Forward-Looking Statements and Risk Factors Summary This Annual Report on Form 10-K contains forward-looking statements that are subject to risksand uncertainties. All statements other than statements of historical or current fact included in thisreport are forward-looking statements. Forward-looking statements discuss our current expectationsand projections relating to our financial condition, results of operations, plans, objectives, futureperformance and business. You can identify forward-looking statements by the fact that they do notrelate strictly to historical or current facts. These statements may include words such as “aim,”“anticipate,” “believe,” “estimate,” “expect,” “forecast,” “outlook,” “potential,” “project,”“projection,” “plan,” “intend,” “seek,” “may,” “could,” “would,” “will,” “should,” “can,” “can have,”“likely,” the negatives the