PYYX PYXUS INTERNATIONAL, INC.

Overview and Growth

Fiscal 2026 results for PYXUS INTERNATIONAL, INC. combined $2.41B of revenue with net income of $14.57M and an operating cash outflow of $208.45M. The $2.41B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 2.8% below fiscal 2025 revenue of $2.48B, marking a top-line contraction. Diluted earnings per share were $0.56, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS decreased by 5.1% from $0.59 in fiscal 2025, showing how the earnings change reached shareholders on a per-share basis. The company employed $1.69B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 1.42x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $347.68M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 14.4%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $162.70M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 6.7%, showing the portion of revenue preserved after the full set of operating costs. After all reported below-operating-line items, the company recorded net income of $14.57M for the fiscal year. Measured against reported revenue, net income produced a 0.6% margin after operating costs and the remaining recognized items. The company recognized $30.34M of income tax for the period, completing the transition from pretax income to net income. Net income equaled 8.0% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 0.9%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $1.69B of assets against $1.51B of liabilities and $181.11M of equity, revealing how the asset base was financed. Current assets were $1.33B against $932.77M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.43x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $134.34M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 14.4% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $455.76M, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 2.52x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 26.9% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 89.3%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 7.9%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 12.7% from $1.50B in fiscal 2025, leaving current total assets higher year over year. Book equity was 9.3% higher than fiscal 2025 equity of $165.77M, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Operating activities used $208.45M of cash, resulting in an operating cash outflow for the year. Capital spending of $22.05M added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. The company recorded a $230.50M cash deficit after capital spending for the period. The free-cash-flow deficit equaled 9.6% of revenue, showing the post-investment cash shortfall relative to sales. Relative to total assets, the post-investment cash deficit measured 13.6%.

Based on the annual report for the fiscal year ending Mar 31, 2026. Analysis generated Sep 24, 2026.