| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | 1 | 2 | 1 | — | — | — | 2 | 3 | — | 1 | — | — |
| total | individual payouts | |
|---|---|---|
| 2025 | ‡‡‡ |
|
| 2024 | ‡‡‡‡ |
|
| 2023 | ‡‡‡‡ |
|
| 2022 | ‡‡‡‡ |
|
| 2021 | ‡‡‡‡ |
|
| 2020 | ‡‡‡‡ |
|
| 2019 | ‡‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 111.70 | 105.60 | 209.10 | 140.90 |
| Receivables | 191.00 | 154.50 | 84.20 | 190.00 |
| Inventory | 328.90 | 311.70 | 343.40 | 303.60 |
| Other | — | — | — | 6.10 |
| 679.50 | 598.70 | 662.50 | 666.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 112.20 | 60.90 | 55.60 | 50.20 |
| ST’ Debt | 413.70 | — | — | — |
| Other | 32.70 | 21.90 | 15.80 | 9.90 |
| 651.30 | 162.40 | 132.20 | 122.80 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 156.10 | 234.30 | — | — |
—
|
| ’25 | 222.20 | 140.90 | 231.10 | 148.70 |
742.90
|
| ’24 | 300.40 | 254.70 | 293.80 | 194.70 |
1,043.60
|
| ’23 | 164.30 | 337.90 | 270.50 | 276.60 |
1,049.30
|
| ’22 | 307.50 | 242.70 | 239.90 | 327.40 |
1,117.50
|
| ’21 | 343.00 | 397.50 | 329.00 | 704.10 |
1,773.60
|
| ’20 | 192.50 | 394.70 | 385.20 | 583.00 |
1,555.40
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (33.80) | 56.10 | — | — |
—
|
| ’25 | (11.20) | 106.40 | (2.30) | 77.70 |
170.60
|
| ’24 | (62.60) | 47.50 | 153.70 | (79.90) |
58.70
|
| ’23 | (184.00) | (114.40) | 60.00 | 32.10 |
(206.30)
|
| ’22 | (37.30) | (15.60) | (74.00) | 92.80 |
(34.10)
|
| ’21 | 5.10 | (29.70) | 16.70 | 328.10 |
320.20
|
| ’20 | 57.80 | 127.90 | 105.20 | 245.10 |
536.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (36.20) | 54.20 | — | — |
—
|
| ’25 | 23.30 | 103.60 | (5.70) | 73.80 |
195.00
|
| ’24 | (73.40) | 42.90 | 155.50 | (81.30) |
43.70
|
| ’23 | (199.10) | (126.90) | 47.40 | 20.70 |
(257.90)
|
| ’22 | (69.50) | (47.70) | (101.90) | 47.40 |
(171.70)
|
| ’21 | (51.00) | (96.70) | (38.50) | 282.30 |
96.10
|
| ’20 | 33.60 | 92.80 | 59.50 | 209.10 |
395.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.07 | (3.49) | — | — |
—
|
| ’25 | 1.19 | (0.22) | 0.91 | (1.04) |
0.93
|
| ’24 | 0.17 | (5.38) | 2.06 | (0.58) |
(3.60)
|
| ’23 | (3.65) | (5.15) | (5.08) | (0.95) |
(14.85)
|
| ’22 | (0.07) | (1.13) | (1.52) | (1.76) |
(4.47)
|
| ’21 | 1.28 | 0.09 | (0.61) | 3.50 |
4.27
|
| ’20 | (0.24) | 1.73 | 0.73 | 3.44 |
5.67
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.61 | 1.81 | 1.42 | 4.02 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.28 | 16.66 | 15.10 | 13.41 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,500 | 1,600 | 900 | 900 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.45 | 0.66 | 1.16 | 0.83 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,117.50 | 1,049.30 | 1,043.60 | 742.90 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 37.98% | 32.77% | 34.72% | 56.09% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (219.00) | (731.20) | (142.90) | 82.80 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (19.60%) | (69.68%) | (13.69%) | 11.15% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (211.60) | (760.50) | (190.60) | 52.60 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 154.10 | 364.60 | 116.20 | 105.60 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.31 | 20.49 | 19.69 | 13.89 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | (4.47) | (14.85) | (3.60) | 0.98 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.68) | (4.03) | 1.11 | 3.19 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.75) | (1.01) | (0.28) | 0.46 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.43) | (5.04) | 0.82 | 3.64 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 27.70 | 12.68 | 9.11 | 9.77 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.10 | 51.20 | 53.00 | 53.50 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.00 | 0.00 | 0.00 | 13.01 | ‡‡‡‡‡ | ‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.54 | 0.13 | 0.49 | 0.89 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.43 | 0.20 | 1.05 | 1.27 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.22 | 0.84 | 1.02 | 1.38 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.11) | (3.42) | 24.38 | 5.26 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (34.10) | (206.30) | 58.70 | 170.60 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (137.60) | (51.60) | (15.00) | 24.40 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (171.70) | (257.90) | 43.70 | 195.00 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.50) | 28.20 | 436.30 | 530.30 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,405.80 | 860.20 | 663.70 | 572.10 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 763.20 | 748.50 | 558.10 | 363.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,387.70 | 649.30 | 482.80 | 522.60 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6.91%) | (30.48%) | (11.86%) | 3.88% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.94%) | (32.48%) | (6.53%) | 7.06% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (14.08%) | (74.67%) | (33.67%) | 10.46% | — | — | — |
ROE
|
Emergent BioSolutions (EBS) rode the COVID-19 wave to explosive growth, with revenues tripling to $1.77 billion in 2021 amid vaccine manufacturing deals, echoing its BioThrax surge post-2001 anthrax attacks. Yet, a 2021 FDA halt on its Baltimore facility due to contamination wiped out hundreds of millions in revenue, triggering margin collapses from 74% to 35%, massive losses exceeding $1 billion cumulatively since 2022, and a 64% workforce slash. The stock cratered from $138 peaks to $1.42 lows, now trading at fire-sale valuations like 0.13x PS and near 1x PB, amid persistent debt at $664 million and insider selling outpacing a lone CEO buy.
Recent restructuring shines through: revenue per employee rebounded to $1.16 million, operating cash flow flipped positive at $59 million in 2024, and a $450 million contract extension bolsters biodefense runway with products like Cyfendus. Analyst forecasts signal volatility—revenues dipping to $809 million in 2025 before rebounding 43% in 2026—tied to government stockpiling and plague vaccine approvals, with EPS swinging wildly but potentially turning positive.
This high-beta turnaround mirrors biopharma busts like VaxGen’s collapse, yet cheap multiples and historical recoveries on mandates suggest 20-38% upside if execution holds and debt ebbs. Debt leverage, DOJ probes, and lumpy contracts demand caution, positioning EBS as a speculative bet on America’s biothreat preparedness.
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