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Friday 6 November 2026
Export ADCT’s income statement to Excel — free account
ADC Therapeutics SA
ADCT Healthcare Drug Manufacturers Specialty & Generic
ADC Therapeutics SA’s revenue for fiscal 2025 (year ended December 2025) was $81.4 million, up 14.9% from fiscal 2024.
- Revenue
- +2.17%
- EPS
- +78.0%
- Free cash flow
- +51.0%
- Total debt
- +1.87%
Quarter to June 2026, against a year earlier
1.66
0.06
−3.49%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | 2 | 1 | 2 | — | 34 | 210 | 70 | 71 | 81 | 80 | +61.0% | 81 | 101 | 179 | +30.0% | |
| Gross margin, % | — | 0.00 | 100.00 | 100.00 | 0.00 | 95.89 | 98.43 | 96.36 | 91.60 | 92.87 | 88.86 | +92.9 pt | ||||||
| EBT | — | (90) | (123) | (116) | (246) | (252) | (147) | (195) | (156) | (142) | (97) | +5.9% | ||||||
| EBT margin, % | — | (4,981.36) | (10,778.25) | (4,953.08) | 0.00 | (741.53) | (69.94) | (280.94) | (220.42) | (174.06) | (122.28) | +4,807.3 pt | ||||||
| Net income | — | 0 | (123) | (116) | (246) | (230) | (157) | (240) | (158) | (143) | (97) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | 581.61 | 0.02 | 0.05 | 0.00 | 0.44 | 2.69 | 0.85 | 0.73 | 0.64 | 0.51 | (57.3%) | |||||
| Earnings | — | (28,664.00) | (2.64) | (2.36) | (3.77) | (3.00) | (1.99) | (2.94) | (1.62) | (1.12) | (0.66) | (71.9%) | ||||||
| Cash flow | — | (24,175.81) | (2.60) | (2.47) | (2.58) | (3.04) | (1.77) | (1.45) | (1.27) | (1.11) | (0.66) | (71.3%) | ||||||
| Capex | — | 0.00 | (0.05) | (0.04) | (0.04) | (0.08) | (0.03) | (0.04) | (0.01) | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | (24,175.81) | (2.66) | (2.51) | (2.62) | (3.12) | (1.80) | (1.49) | (1.28) | (1.11) | (0.66) | (71.3%) | ||||||
| Book value | — | 80,376.13 | 2.71 | 2.26 | 5.13 | 2.16 | 1.02 | (1.81) | (2.09) | (1.46) | (1.47) | n/m | ||||||
| Shares, m | — | 0 | 47 | 49 | 65 | 77 | 78 | 82 | 97 | 127 | 143 | +277.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | 0.00 | 0.00 | 0.00 | — | 43.21 | 1.34 | 1.99 | 2.73 | 5.51 | 3.23 | 6.8 | ||||||
| P/B | — | 13.59 | 13.59 | 13.59 | — | 9.33 | 3.53 | 0.00 | 0.00 | 0.00 | 0.00 | 6.7 | ||||||
| EV/Sales | — | 0.00 | 0.00 | 0.00 | — | 33.88 | 0.36 | (0.19) | 0.99 | 3.72 | 1.95 | 4.8 | ||||||
| EV/FCF | — | (9.08) | (9.08) | (9.08) | — | (5.06) | (0.54) | 0.11 | (0.56) | (2.15) | (1.52) | (4.4) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | (75) | (121) | (122) | (169) | (233) | (138) | (119) | (124) | (141) | (102) | +8.2% | |||||
| Capex | — | (3) | (2) | (2) | (3) | (6) | (2) | (3) | (1) | 0 | 1 | n/m | ||||||
| Free cash flow | — | (75) | (124) | (124) | (172) | (240) | (141) | (122) | (125) | (141) | (102) | +8.2% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | 245 | 120 | 103 | 410 | 451 | 353 | 269 | 211 | 236 | 175 | (0.4%) | |||||
| Net debt | — | (263) | (139) | (111) | (328) | (335) | (204) | (166) | (137) | (146) | (102) | (7.1%) | ||||||
| Shareholders’ equity | — | 249 | 126 | 111 | 336 | 166 | 79 | (148) | (203) | (186) | (228) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | (42.54) | (163.52) | (80.82) | (75.62) | (40.65) | (28.34) | (56.77) | (46.65) | (44.22) | (32.25) | (1.7) pt | |||||
| ROIC | — | 0.00 | 0.00 | (11,733.39) | (1,729.42) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | (47.87) | (65.58) | (98.13) | (110.28) | (91.72) | (127.99) | 697.85 | 89.97 | 73.43 | 45.35 | +121.3 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 179 | 208 | 312 | 317 | 274 | 265 | 193 | — | +1.3% | |||||
| Revenue/emp, $m | — | 0.00 | 0.00 | 0.01 | 0.00 | 0.11 | 0.66 | 0.25 | 0.27 | 0.42 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
ADC Therapeutics SA vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| EBS Emergent Biosolutions Inc. | $300.8M | — (loss-making) | — (loss-making) | −52.40% (below 0%: shrinking) | n/m | +1,892.98% (above 0%: growing) | 26.55% | (33.91%) | Compare |
| CGC Canopy Growth Corporation | $283.5M | — (loss-making) | — (loss-making) | +12.41% (above 0%: growing) | n/m | −117.60% (below 0%: shrinking) | 27.40% | (27.24%) | Compare |
| ANIK Anika Therapeutics Inc. | $258.7M | — (loss-making) | 599× | +15.56% (above 0%: growing) | n/m | +61.58% (above 0%: growing) | 65.15% | 9.06% | Compare |
| BIOA BioAge Labs, Inc. | $254.3M | — (loss-making) | — (loss-making) | −85.49% (below 0%: shrinking) | n/m | −92.81% (below 0%: shrinking) | 100.00% | (12,554.03%) | Compare |
| LFCR Lifecore Biomedical, Inc. | $242.6M | — (loss-making) | — (loss-making) | −18.60% (below 0%: shrinking) | n/m | +27,684.00% (above 0%: growing) | 26.96% | (3.53%) | Compare |
| SIGA Siga Technologies Inc. | $213.4M | — (loss-making) | 60.8× | −49.45% (below 0%: shrinking) | −66.00% (below 0%: shrinking) | −75.95% (below 0%: shrinking) | 57.17% | 33.91% | Compare |
| ADCT ADC Therapeutics SA | $209.4M | — (loss-making) | — (loss-making) | +2.17% (above 0%: growing) | n/m | +50.98% (above 0%: growing) | 87.80% | (132.03%) | |
| GLAS Glass House Brands Inc. | $172.7M | — (loss-making) | — (loss-making) | −1.24% (below 0%: shrinking) | n/m | −123.36% (below 0%: shrinking) | 33.54% | (6.37%) | Compare |
| AKBA Akebia Therapeutics, Inc. | $117.9M | — (loss-making) | — (loss-making) | −37.20% (below 0%: shrinking) | n/m | −94.20% (below 0%: shrinking) | 82.76% | (31.06%) | Compare |
| Median of peers | $248.4M | — | — | −27.90% | — | −84.38% | 45.36% | (16.80%) |
Pay and ownership Proxy statement filed 20 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 2.45m | 6.05m | 91.93 |
| 2024 | 1.84m | 4.13m | 51.82 |
| 2023 | 3.78m | 2.68m | 43.23 |
Ownership
Directors and executive officers, together
5.10%
Redmile Group LLC
10.00%
TCG Crossover GP II, LLC
9.00%
Hans-Peter Wild
7.70%
Prosight Management L.P.
6.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement