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ADMA Biologics Inc

ADMA Healthcare Biotechnology

ADMA Biologics Inc’s revenue for fiscal 2025 (year ended December 2025) was $510.2 million, up 19.6% from fiscal 2024.

Revenue
+5.12%
EPS
+46.7%
Free cash flow
+1,709.5%
Total debt
+140.5%

Quarter to September 2026, against a year earlier

12.79 0.42 −3.18%
Market cap
$3.0B
P/E
16.7×
Fwd P/E
14.0×
Dividend yield
—
F-score
5/9
Altman Z
19.98
Beneish M
−0.17
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.47
Sold, $m 2.99
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — 3 — — — — — —
Sell 1 — 1 2 — — — — — — — 1
Insider Ownership 4.18%

Capital & Financial Ratios $m

Size
Market Cap 2,960.00
Revenue ttm 519.15
Net income ttm 182.41
Free cash flow ttm 140.48
Net debt Q (124.55)
Valuation
P/E 16.70
Forward P/E 14.00
Price / sales 5.68
Forward P/S Powerpack
Price / FCF 24.54
Price / book 6.73 (above 6: high)
Financial health
Current ratio Q 6.04 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 19.74
Growth
Revenue growth Q +5.12% (above 0%: growing)
Operating income growth Q +32.83% (above 0%: growing)
EPS, this year +24.48% (at or above 15%: strong)
EPS, next year A +8.56%
Revenue, next year A +4.93%
EPS, past 5 yrs —
EPS, next 5 yrs A +19.38% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.8×, against a ten-year median of 6.1×; over the ten years it ranged from 3.1× in 2021 to 15.5× in 2019.
P/S against its own 10 years 51.19%
10-year low 10-year high
P/B against its own 10 years 59.92%
10-year low 10-year high
EV/Sales against its own 10 years 47.74%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 51 103 88 125
Receivables 27 50 158 169
Inventory 173 170 206 266
Other — — 7 —
257 331 467 576
2023 2024 2025 Q'26
Payables 16 20 23 36
ST’ Debt — — — —
Other — — 3 —
50 56 70 95

Compound Annual Growth %

10y 5y 3y
Sales 53.17% 64.60% 49.05%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 88.99% 40.16% 46.45%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.19 Actual 0.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 0.14 0.15 Beat by 0.01
Q3 FY25 0.16 0.16 Met by 0.00
Q2 FY26 0.16 0.16 Met by 0.00
Q3 FY26 0.19 0.22 Beat by 0.03
Q4 FY26 0.22 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.19 0.16 0.22 — —
’25 0.11 0.14 0.15 0.20 0.60
’24 0.08 0.13 0.15 0.46 0.81
’23 (0.03) (0.03) 0.01 (0.08) (0.13)
’22 (0.13) (0.07) (0.08) (0.06) (0.33)
’21 (0.16) (0.15) (0.13) (0.09) (0.51)
’20 (0.26) (0.23) (0.19) (0.20) (0.88)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 114 124 141 — —
’25 115 122 134 139 510
’24 82 107 120 118 426
’23 57 60 67 74 258
’22 29 34 41 50 154
’21 16 18 21 26 81
’20 10 8 10 14 42
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 58 30 17 — —
’25 (20) 21 13 36 50
’24 (2) 46 25 50 119
’23 (15) (6) 12 18 9
’22 (26) (13) (13) (7) (60)
’21 (33) (32) (13) (33) (112)
’20 (25) (21) (24) (32) (102)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 61 22 17 — —
’25 (24) 19 (1) 34 28
’24 (5) 43 24 47 110
’23 (17) (7) 11 16 4
’22 (29) (17) (17) (11) (73)
’21 (36) (37) (16) (37) (126)
’20 (27) (25) (27) (36) (115)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten 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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 11 23 17 29 42 81 154 258 426 510 519 +53.7% 535 630 729 +12.6%
Gross margin, % 40.34 (28.14) (148.42) (34.60) (45.17) 1.45 22.89 34.44 51.48 57.39 68.53 +17.0 pt
EBT (20) (44) (66) (48) (76) (72) (66) (28) 126 183 235 n/m
EBT margin, % (183.05) (192.26) (387.06) (164.50) (179.41) (88.52) (42.77) (10.94) 29.48 35.80 45.18 +218.9 pt
Net income (20) (44) (66) (48) (76) (72) (66) (28) 198 147 182 n/m
Per share, $
Per share, $ Revenue 0.88 0.99 0.38 0.54 0.49 0.58 0.78 1.15 1.83 2.14 2.32 +10.4%
Earnings (1.61) (1.91) (1.45) (0.89) (0.88) (0.51) (0.33) (0.13) 0.85 0.62 0.79 n/m
Cash flow (1.50) (1.63) (1.39) (1.40) (1.18) (0.81) (0.30) 0.04 0.51 0.21 0.63 n/m
Capex (0.01) (0.12) (0.05) (0.07) (0.15) (0.10) (0.07) (0.02) (0.04) (0.10) 0.00 +36.1%
Free cash flow (1.51) (1.74) (1.43) (1.47) (1.33) (0.90) (0.37) 0.02 0.47 0.12 0.63 n/m
Book value (0.37) 1.76 0.44 0.48 1.02 1.01 0.77 0.60 1.50 2.00 1.96 n/m
Shares, m 12 23 45 54 86 140 198 224 233 238 232 +39.2%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 20.42 29.90 16.70 5.0
P/S 5.68 3.32 6.36 7.41 3.98 2.43 4.97 3.95 9.37 8.52 5.68 5.6
P/B 0.00 1.87 5.46 8.30 1.90 1.39 5.04 7.54 11.45 9.11 6.73 5.2
EV/Sales 5.40 3.19 7.46 9.38 4.96 3.07 5.41 4.29 9.32 8.50 5.83 6.1
EV/FCF (3.14) (1.82) (1.96) (3.44) (1.83) (1.97) (11.35) 275.09 36.11 157.61 25.16 44.3
Cash, $m
Cash, $m Operating cash flow (18) (37) (63) (76) (102) (112) (60) 9 119 50 141 n/m
Capex 0 (3) (2) (4) (13) (14) (14) (5) (9) (23) 0 +89.3%
Free cash flow (18) (40) (65) (80) (115) (126) (73) 4 110 28 140 n/m
Balance, $m
Balance, $m Working capital 10 53 35 72 134 178 231 207 276 397 481 +49.8%
Net debt 3 (3) 19 58 41 51 67 89 (22) (12) (125) n/m
Shareholders’ equity (4) 40 20 26 88 141 152 135 349 477 439 n/m
Returns, %
Returns, % ROA (82.34) (66.45) (66.78) (44.71) (45.25) (29.61) (21.10) (8.33) 48.34 26.40 28.04 +108.7 pt
ROIC 0.00 (65.63) (97.92) (30.76) (31.30) (18.96) (11.23) 6.03 26.58 25.69 48.02 +25.7 pt
ROE 1,073.35 (243.95) (218.77) (210.08) (132.38) (62.46) (44.96) (19.67) 81.65 35.56 41.95 (1,037.8) pt
People
People Employees 92 295 318 314 407 527 617 624 685 647 — +24.2%
Revenue/emp, $m 0.12 0.08 0.05 0.09 0.10 0.15 0.25 0.41 0.62 0.79 — +23.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

ADMA Biologics Inc vs peers in Biotechnology (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
ADMA ADMA Biologics Inc $3.0B 16.7× 14.0× +5.12% (above 0%: growing) +46.67% (above 0%: growing) +1,709.49% (above 0%: growing) 70.81% 48.02%
VCEL Vericel Corporation $2.7B 77.8× 72.9× +26.47% (above 0%: growing) +180.00% (above 0%: growing) −19.39% (below 0%: shrinking) 73.34% 14.27% Compare
PHVS Pharvaris N.V. $2.3B — (loss-making) — — n/m −17.31% (below 0%: shrinking) 0.00% 0.00% Compare
PVLA Palvella Therapeutics, Inc. $2.3B — (loss-making) — (loss-making) −99.09% (below 0%: shrinking) n/m −136.38% (below 0%: shrinking) 100.00% 0.00% Compare
CLDX Celldex Therapeutics, Inc. $2.2B — (loss-making) — (loss-making) −96.83% (below 0%: shrinking) n/m −35.45% (below 0%: shrinking) 100.00% (366,468.18%) Compare
VERA Vera Therapeutics, Inc. $2.2B — (loss-making) — — n/m −82.47% (below 0%: shrinking) 0.00% 0.00% Compare
AUPH Aurinia Pharmaceuticals Inc $2.2B 6.8× 17.6× +13.93% (above 0%: growing) 0.00% +4.41% (above 0%: growing) 90.08% 40.74% Compare
IMNM Immunome, Inc. $2.1B — (loss-making) — (loss-making) +69.84% (above 0%: growing) n/m −26.96% (below 0%: shrinking) 100.00% 0.00% Compare
BHVN Biohaven Ltd. $2.1B — (loss-making) — (loss-making) +131.43% (above 0%: growing) n/m +26.55% (above 0%: growing) 0.00% 0.00% Compare
Median of peers $2.2B — — +20.20% — −23.17% 81.71% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 15 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 10.24m 13.62m 106.36
2024 7.92m 47.36m 379.42
2023 6.04m 14.08m 116.49
2022 2.65m 8.54m 275.18
2021 4.36m 2.00m 72.31

Ownership

Directors and executive officers, together 3.90%
BlackRock, Inc. 15.50%
State Street Corporation 5.20%
Invesco Ltd. 5.10%
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

ADMA Biologics Inc (ADMA) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com

4 Nov

Impact 4 · · GlobeNewswire
Impact 3 · · MarketBeat transcript
Impact 3 · · Associated Press

29 Oct

Impact 3 · · Zacks

20 Oct

Impact 3 · · Zacks

15 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · Simply Wall St.

8 Oct

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29 Sep

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27 Sep

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24 Sep

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6 Aug

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5 Aug

Impact 3 · · MarketBeat transcript
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15 Jul

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9 Jul

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20 Jun

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1 Jun

Impact 4 · · Simply Wall St.
Impact 4 · · Insider Monkey

26 May

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19 May

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15 May

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9 May

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7 May

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6 May

Impact 4 · · MarketBeat
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ADMA metrics, ten years each

stockrow.com/ADMA · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com