ADMANasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
ADMA BIOLOGICS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$11.07+0.39 (+3.65%)
Close on Oct 19, 2026
- Market cap
- $2.55B
- P/E (TTM)
- 15.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
57.4%+102.6 pts over 5 years
Operating margin
37.5%+191.3 pts over 5 years
Net margin
28.8%+208.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +19.6% | +49.0% | +64.6% | +53.2% | |
| Gross profit | +33.3% | +102.5% | – | +58.8% | |
| Operating income | +37.7% | – | – | – | |
| Net income | -25.7% | – | – | – | |
| EPS, diluted | -25.9% | – | – | – | |
| Free cash flow | -74.8% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 1073.4% | -132.4% | 35.6% | |
| Return on assets | -82.3% | -45.3% | 26.4% | |
| Current ratio | 1.93 | 7.71 | 6.71 | |
| Debt to equity | -2.76 | 1.05 | 0.15 | |
| Net debt to EBITDA | -0.14× | -0.60× | -0.08× | |
| Interest coverage | -7.7× | -5.4× | 26.9× | |
| Inventory turnover | 1.5× | 0.9× | 1.2× | |
| Capex to revenue | 0.7% | 30.1% | 4.4% | |
| Diluted shares | 12M | 86M | 245M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Adma Biologics generated $349.75M from operations and spent $94.93M on capital expenditure, dividends and share buybacks. 66% of that went back into the business.
Generated
$349.75M
Used
$94.93M
Capital expenditure$62.99M66%Dividends$00%Share buybacks$31.94M34%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin28.8%
×Asset turnover0.92×
×Equity multiplier1.35×
=Return on equity, FY202535.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 28.8% | 0.92× | 1.35× | 35.6% |
| FY2024 | 46.4% | 1.04× | 1.69× | 81.6% |
| FY2023 | -10.9% | 0.76× | 2.36× | -19.7% |
| FY2022 | -42.8% | 0.49× | 2.13× | -45.0% |
| FY2021 | -88.5% | 0.33× | 2.11× | -62.5% |
| FY2020 | -179.4% | 0.25× | 2.93× | -132.4% |
| FY2019 | -164.5% | 0.27× | 4.70× | -210.1% |
| FY2018 | -387.1% | 0.17× | 3.28× | -218.8% |
| FY2017 | -192.3% | 0.35× | 3.67× | -243.9% |
| FY2016 | -183.1% | 0.45× | -13.04× | 1073.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$146.93M
- Cash generatingOperating cash flow above zero$50.40M
- Return on assets improvedROA up on the prior year60.0% → 30.1%
- Earnings backed by cashOperating cash flow above net income$50.40M vs $146.93M
- Less leverageLong-term debt to assets fell14.8% → 11.1%
- Better liquidityCurrent ratio rose5.97 → 6.71
- No dilutionShare count did not rise243M → 245M
- Gross margin improvedGross margin up on the prior year51.48% → 57.39%
- More efficientAsset turnover rose1.30 → 1.04