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ADMA Biologics, Inc. (ADMA) stock analysis

ADMANasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 4, 2026Score 16/3038% below fair value
$13.19+0.52 (+4.10%)

Close on Nov 11, 2026Market cap $2.95BP/E 17.1Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value5Growth2Performance4Health5Dividend0

Solid16 of 30 checks passed

ADMA Biologics passes 16 of the 30 checks behind our score; 8 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
5/6
Growth
2/6
Past performance
4/6
Financial health
5/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 37.8% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $13.19 is below our fair value estimate of $21.21.

  • Return on capital over 10%

    Return on invested capital was 39.4%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 49.0% a year over the last three fiscal years.

What to watch

  • Return on equity under 15%

    Return on equity was 41.9% over the last twelve months and averaged -2.0% over five years; we look for 15% on both.

  • High debt

    Debt is 44.7% of shareholders' equity, above the 40% we consider low.

  • Guidance lowered

    ADMA Biologics lowered its FY 2026 total revenue outlook on May 6, 2026.

  • P/B above the industry

    ADMA Biologics's price-to-book of 6.74 is above the Drugs median of 2.29.

Valuation5/6

  • P/E below its 5-year median

    ADMA Biologics's P/E of 17.1 is below its own 5-year median of 21.0.

  • P/E below the industry

    ADMA Biologics's P/E of 17.1 is below the Drugs median of 25.1.

  • EV/EBITDA below its 5-year median

    ADMA Biologics's EV/EBITDA of 12.2 is below its 5-year median of 28.8.

  • P/B above the industry

    ADMA Biologics's price-to-book of 6.74 is above the Drugs median of 2.29.

  • Trading below fair value

    The share price of $13.19 is below our fair value estimate of $21.21.

  • Margin of safety over 20%

    The price is 37.8% below fair value, more than the 20% cushion we look for.

Growth2/6

  • Revenue growing 10%+ a year

    Revenue grew 49.0% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 6.3% over the last twelve months; the Drugs median is 8.0%.

  • Guidance lowered

    ADMA Biologics lowered its FY 2026 total revenue outlook on May 6, 2026.

  • Gross margin improving

    Gross margin was 68.5% over the last twelve months, against 54.7% a year earlier.

Past performance4/6

  • Return on equity under 15%

    Return on equity was 41.9% over the last twelve months and averaged -2.0% over five years; we look for 15% on both.

  • Return on capital over 10%

    Return on invested capital was 39.4%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    ADMA Biologics's return on equity of 41.9% is above the Drugs median of -58.9%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 35.1% over the last twelve months, against a 5-year average of -13.4%.

  • Net margin above the industry

    ADMA Biologics's net margin of 35.1% is above the Drugs median of -53.0%.

Financial health5/6

  • High debt

    Debt is 44.7% of shareholders' equity, above the 40% we consider low.

  • Debt falling against equity

    Debt to equity fell from 105% five years ago to 44.7%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 71.9% of total debt.

  • Interest well covered

    Operating income covers interest expense 22.8 times.

  • Short-term assets cover short-term debts

    Current assets are 6.04 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 8.56; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    ADMA Biologics has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$21.21

The share price is 38% below this estimate.

20%+ below
Near fair value
20%+ above
$13.19Price$21.21Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E23.0×21.0×25.1×$17.7253%
EV/EBITDA23.0×28.8×17.1×$25.2047%
Earnings powerleft out, too far from the others8.1% cost of equity––$2.90–
Fair value$21.21100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 21.0
  • Drugs median 25.1

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$41.93M
Value traded per 1% price move
$13.38M

Downside

High risk

Typical loss in a bad month
41.5%
Volatility (annualized)
60%
Sharpe ratio, 1 year
-0.25
Beta to the S&P 500 (5Y)
0.64

Typical bad-month loss, week by week

25%: high

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

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