ADC Therapeutics SA
ADCT Healthcare Biotechnology
ADC Therapeutics SA’s revenue for fiscal 2025 (year ended December 2025) was $81.4 million, up 14.9% from fiscal 2024. In the quarter to June 2026, revenue grew 2.17%, EPS grew 78.0%, free cash flow grew 51.0% and total debt rose 1.87%, each against the same quarter a year earlier.
Follow ADCT
ADC Therapeutics SA (ADCT) Piotroski F-score
ADC Therapeutics SA's Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 2.00 |
| FY2024 | 3 | 2.00 |
| FY2023 | 1 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (44.22%) | (46.65%) | Fail | 0 |
| Positive operating cash flow | (141.17m) | (123.83m) | Fail | 0 |
| Rising return on assets | (44.22%) | (46.65%) | Pass | 1 |
| Cash flow above net income | 1.45m | 34.01m | Pass | 1 |
| Falling long-term leverage | 0.35 | 0.34 | Fail | 0 |
| Rising current ratio | 4.37 | 3.62 | Pass | 1 |
| No new shares issued | 127,068,000 | 97,160,000 | Fail | 0 |
| Rising gross margin | 92.87% | 91.60% | Pass | 1 |
| Rising asset turnover | 0.25 | 0.21 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| KROS Keros Therapeutics, Inc. compare | 7 |
| ADCT ADC Therapeutics SA | 5 |
| CAMP CAMP4 Therapeutics Corporation compare | 4 |
| LXEO Lexeo Therapeutics, Inc. compare | 4 |
| MGNX MacroGenics, Inc. compare | 3 |
| PYXS Pyxis Oncology, Inc. compare | — |
| EVMN Evommune Inc. compare | — |
| ZNTL Zentalis Pharmaceuticals, Inc. compare | — |
| LRMR Larimar Therapeutics, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover