What is ADMA Biologics, Inc.'s earnings per share (EPS)?

ADMA Biologics, Inc. (ADMA) reported diluted earnings per share of $0.60 for fiscal year 2025. This represents a -25.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ADMA Biologics, Inc. (ADMA) Financials

ADMA

Trailing 12 months to June 30, 2026

Revenue $512.3M +8.0% YoY

Net Income $169.0M -19.1% YoY

EPS (Diluted) $0.70 -18.6% YoY

Free Cash Flow $116.5M +77.1% YoY

Market Cap $2.2B as of Oct 3, 2026

Price / Sales 4.2x on $512.3M revenue, trailing 12 months to June 30, 2026

Price / Earnings 12.9x on $169.0M net income, trailing 12 months to June 30, 2026

Price / Book 5.3x on $408.2M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ADMA SEC filings page.

ADMA Biologics, Inc. (ADMA) reported $512.3M in revenue over the twelve months to Jun 30, 2026, up 8.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ADMA FY2025 2026-10-03

ADMA has become a high-margin operator, but FY2025 cash generation fell sharply as working capital absorbed earnings.

Despite net income of $146.9M, operating cash flow was only $50.4M in FY2025, versus $118.7M in FY2024, showing that accounting profit converted less efficiently into cash. Meanwhile, receivables reached $158.4M from $50.0M, while inventory rose to $206.5M, tying more funds to sales and stock rather than leaving them available as cash.

Margin expansion is the clearest operating change: gross margin climbed from 34.4% in FY2023 to 57.4% in FY2025, indicating materially better selling economics. Operating margin reached 37.5%, showing that much of the gross-profit improvement remained after overhead.

The balance sheet became less debt-dependent: debt-to-equity fell from 1.4x in FY2023 to 0.1x in FY2025, while the current ratio was 6.7x. That combination points to substantial short-term asset coverage and a much smaller debt claim on the business, even as cash conversion weakened.

Financial Health Signals

Financial Health Score 81/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of ADMA Biologics, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

ADMA Biologics, Inc. has an operating margin of 37.5%, meaning the company retains $38 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 32.6% the prior year.

Growth

ADMA Biologics, Inc.'s revenue surged 19.6% year-over-year to $510.2M, reflecting rapid business expansion. This strong growth earns a score of 93/100.

Leverage

ADMA Biologics, Inc. carries a low D/E ratio of 0.15, meaning only $0.15 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 6.71, ADMA Biologics, Inc. holds $6.71 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.

Cash Flow

ADMA Biologics, Inc. converts 5.5% of revenue into free cash flow ($27.8M). This strong cash generation earns a score of 68/100.

Returns

ADMA Biologics, Inc. earns a strong 30.8% return on equity (ROE), meaning it generates $31 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 70/100. This is down from 56.6% the prior year.

Altman Z-Score Safe

11.12

ADMA Biologics, Inc. scores 11.12, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.2B) relative to total liabilities ($146.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

ADMA Biologics, Inc. passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.34x

For every $1 of reported earnings, ADMA Biologics, Inc. generates $0.34 in operating cash flow ($50.4M OCF vs $146.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

26.93x

ADMA Biologics, Inc. earns $26.93 in operating income for every $1 of interest expense ($191.4M vs $7.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$124.4M

YoY+2.0%

QoQ+8.6%

5Y CAGR+47.5%

10Y CAGR+49.2%

ADMA Biologics, Inc. generated $124.4M in revenue in Q2 2026. This represents an increase of 2.0% from the same quarter a year earlier. Against the prior quarter it is up 8.6%.

EBITDA

$54.1M

YoY+20.9%

QoQ-9.9%

ADMA Biologics, Inc.'s EBITDA was $54.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.9% from the same quarter a year earlier. Against the prior quarter it is down 9.9%.

Net Income

$37.8M

YoY+10.5%

QoQ-16.6%

ADMA Biologics, Inc. reported $37.8M in net income in Q2 2026. This represents an increase of 10.5% from the same quarter a year earlier. Against the prior quarter it is down 16.6%.

EPS (Diluted)

$0.16

YoY+14.3%

QoQ-15.8%

ADMA Biologics, Inc. earned $0.16 per diluted share (EPS) in Q2 2026. This represents an increase of 14.3% from the same quarter a year earlier. Against the prior quarter it is down 15.8%.

Cash & Balance Sheet

Free Cash Flow

$27.3M

YoY+45.8%

QoQ-51.0%

ADMA Biologics, Inc. generated $27.3M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 45.8% from the same quarter a year earlier. Against the prior quarter it is down 51.0%.

Cash & Debt

$136.0M

YoY+50.7%

QoQ-1.5%

5Y CAGR+26.2%

10Y CAGR+26.9%

ADMA Biologics, Inc. held $136.0M in cash against $192.8M in long-term debt as of Q2 2026.

Shares Outstanding

224M

YoY-6.1%

QoQ-3.4%

5Y CAGR+11.0%

10Y CAGR+33.0%

ADMA Biologics, Inc. had 224M shares outstanding in Q2 2026. This represents a decrease of 6.1% from the same quarter a year earlier. Against the prior quarter it is down 3.4%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

69.4%

YoY+14.2pp

QoQ-1.2pp

5Y change+75.0pp

10Y change+28.5pp

ADMA Biologics, Inc.'s gross margin was 69.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 14.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.

Operating Margin

42.2%

YoY+7.1pp

QoQ-8.7pp

5Y change+129.5pp

ADMA Biologics, Inc.'s operating margin was 42.2% in Q2 2026, reflecting core business profitability. This is up 7.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.7 percentage points.

Net Margin

30.4%

YoY+2.3pp

QoQ-9.2pp

ADMA Biologics, Inc.'s net profit margin was 30.4% in Q2 2026, showing the share of revenue converted to profit. This is up 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.2 percentage points.

Return on Equity

9.3%

YoY+0.7pp

QoQ-2.3pp

5Y change+26.2pp

ADMA Biologics, Inc.'s ROE was 9.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.

Capital Allocation

R&D Spending

$6.0M

YoY+483.3%

QoQ+131.6%

5Y CAGR+39.0%

10Y CAGR+5.9%

ADMA Biologics, Inc. invested $6.0M in research and development in Q2 2026. This represents an increase of 483.3% from the same quarter a year earlier. Against the prior quarter it is up 131.6%.

Share Buybacks

$25.1M

QoQ-80.8%

ADMA Biologics, Inc. spent $25.1M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 80.8%.

Capital Expenditures

$2.3M

YoY-6.9%

QoQ-11.3%

5Y CAGR-12.8%

10Y CAGR+49.4%

ADMA Biologics, Inc. invested $2.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 6.9% from the same quarter a year earlier. Against the prior quarter it is down 11.3%.

ADMA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ADMA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$512.3M	$510.2M+19.6%	$426.5M+65.2%	$258.2M+67.6%	$154.1M+90.4%	$80.9M+91.7%	$42.2M+43.9%	$29.3M+72.8%	$17.0M-25.4%	$22.8M+113.5%	$10.7M+48.5%	$7.2M+21.3%	$5.9M+92.8%	$3.1M+174.4%	$1.1M+46.9%	$761K
Cost of Revenue	$180.8M	$217.4M+5.1%	$206.9M+22.2%	$169.3M+42.5%	$118.8M+48.9%	$79.8M+30.1%	$61.3M+55.2%	$39.5M-6.4%	$42.2M+44.7%	$29.2M+1715.3%	$1.6M-62.7%	$4.3M+15.2%	$3.7M+85.0%	$2.0M+202.4%	$669K+222.3%	$208K
Gross Profit	$331.5M	$292.8M+33.3%	$219.6M+146.8%	$88.9M+152.2%	$35.3M+2906.4%	$1.2M+106.2%	-$19.1M-87.8%	-$10.2M+59.7%	-$25.2M-293.7%	-$6.4M-248.9%	$4.3M+50.0%	$2.9M+31.9%	$2.2M+108.1%	$1.0M+132.5%	$449K-18.9%	$553K
R&D Expenses	$11.5M	$4.8M+162.7%	$1.8M-45.1%	$3.3M-8.7%	$3.6M-0.9%	$3.6M-38.3%	$5.9M+152.0%	$2.3M-40.3%	$3.9M-29.5%	$5.6M-27.6%	$7.7M+9.6%	$7.0M-26.3%	$9.5M+2.3%	$9.3M+168.2%	$3.5M+436.4%	$647K
SG&A Expenses	$98.8M	$91.6M+23.5%	$74.1M+25.6%	$59.0M+12.5%	$52.5M+22.3%	$42.9M+22.4%	$35.1M+35.3%	$25.9M+15.1%	$22.5M+20.0%	$18.8M+120.8%	$8.5M+25.9%	$6.7M+39.8%	$4.8M+10.5%	$4.4M+38.9%	$3.1M+119.4%	$1.4M
Operating Income	$224.5M	$191.4M+37.7%	$139.0M+542.5%	$21.6M+155.0%	-$39.4M+32.6%	-$58.4M+10.1%	-$64.9M-56.7%	-$41.4M+31.3%	-$60.3M-53.4%	-$39.3M-126.8%	-$17.3M-11.7%	-$15.5M+3.2%	-$16.0M-6.5%	-$15.0M-90.2%	-$7.9M-71.1%	-$4.6M
EBITDA	N/A	$199.4M+36.0%	$146.7M+401.8%	$29.2M+188.7%	-$33.0M+38.5%	-$53.6M+13.2%	-$61.7M-58.1%	-$39.0M+32.4%	-$57.7M-52.6%	-$37.8M-123.3%	-$16.9M-12.5%	-$15.0M+4.6%	-$15.8M-6.3%	-$14.8M-91.9%	-$7.7M-75.5%	-$4.4M
Interest Expense	$8.8M	$7.1M-49.0%	$13.9M-44.3%	$25.0M+29.8%	$19.3M+47.7%	$13.1M+8.9%	$12.0M+33.3%	$9.0M+62.8%	$5.5M+68.1%	$3.3M+46.7%	$2.2M+21.5%	$1.8M+43.3%	$1.3M+108.0%	$618K+1914.9%	$31K-98.1%	$1.6M
Income Tax	$47.5M	$35.7M+149.6%	-$72.0M	$0	$0	$0	$0	$0	$0	$0	$0	$0+100.0%	-$552K	$0+100.0%	-$618K	N/A
Net Income	$169.0M	$146.9M-25.7%	$197.7M+801.1%	-$28.2M+57.2%	-$65.9M+8.0%	-$71.7M+5.4%	-$75.7M-56.9%	-$48.3M+26.6%	-$65.7M-50.2%	-$43.8M-124.2%	-$19.5M-8.6%	-$18.0M-6.9%	-$16.8M-8.3%	-$15.5M-112.7%	-$7.3M-23.7%	-$5.9M
EPS (Basic)	N/A	$0.62-27.1%	$0.85+753.8%	-$0.13+60.6%	-$0.33+35.3%	-$0.51+42.0%	-$0.88	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$0.70	$0.60-25.9%	$0.81+723.1%	-$0.13+60.6%	-$0.33+35.3%	-$0.51	-$0.88	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	245M+0.6%	243M+8.6%	224M+13.2%	198M+41.8%	140M	86M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$124.4M+2.0%	$114.5M-0.3%	$139.2M+18.4%	$134.2M+12.0%	$122.0M+13.8%	$114.8M+40.2%	$117.5M+59.1%	$119.8M+78.1%
Cost of Revenue	$38.1M-30.4%	$33.7M-37.2%	$50.3M-7.1%	$58.6M-2.6%	$54.8M+10.1%	$53.7M+25.6%	$54.2M+26.6%	$60.2M+41.2%
Gross Profit	$86.3M+28.3%	$80.8M+32.2%	$88.8M+40.2%	$75.6M+26.8%	$67.2M+17.0%	$61.1M+56.2%	$63.3M+103.7%	$59.7M+142.0%
R&D Expenses	$6.0M+483.3%	$2.6M+214.4%	$1.4M+252.2%	$1.5M+270.9%	$1.0M+84.1%	$826K+83.6%	$391K-12.3%	$412K-30.9%
SG&A Expenses	$26.7M+20.4%	$26.7M+11.1%	$23.5M+0.8%	$21.8M+17.3%	$22.2M+33.8%	$24.1M+54.0%	$23.3M+50.1%	$18.6M+26.0%
Operating Income	$52.4M+22.5%	$58.3M+67.1%	$62.8M+63.7%	$51.0M+28.7%	$42.8M+9.2%	$34.9M+59.9%	$38.3M+169.3%	$39.6M+356.4%
EBITDA	$54.1M+20.9%	$60.1M+63.3%	$64.9M+60.8%	$53.0M+27.6%	$44.8M+9.0%	$36.8M+55.1%	$40.3M+149.9%	$41.5M+292.4%
Interest Expense	$3.4M+86.7%	$2.1M+6.3%	$1.6M-43.5%	$1.7M-52.1%	$1.8M-51.5%	$2.0M-47.6%	$2.9M-53.7%	$3.5M-45.3%
Income Tax	$12.4M+111.2%	$11.8M+80.2%	$12.2M+115.8%	$11.1M+1219.9%	$5.9M+55.1%	$6.5M+1000.2%	-$77.2M	$840K
Net Income	$37.8M+10.5%	$45.3M+68.5%	$49.4M-55.9%	$36.4M+1.4%	$34.2M+6.7%	$26.9M+51.1%	$111.9M+735.7%	$35.9M+1300.0%
EPS (Basic)	$0.17+21.4%	$0.19+72.7%	$0.21-56.3%	$0.150.0%	$0.140.0%	$0.11+37.5%	$0.48+700.0%	$0.15+1400.0%
EPS (Diluted)	$0.16+14.3%	$0.19+72.7%	$0.20-56.5%	$0.150.0%	$0.14+7.7%	$0.11+37.5%	$0.46+675.0%	$0.15+1400.0%
Diluted Shares (Avg)	230M-7.3%	240M-1.9%	N/A	245M-0.1%	249M+2.7%	245M+3.5%	N/A	245M+4.7%

ADMA Balance Sheet

ADMA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$624.2M+27.7%	$488.7M+48.5%	$329.2M-5.5%	$348.5M+26.1%	$276.3M+33.0%	$207.7M+63.4%	$127.1M+43.0%	$88.9M-17.7%	$108.0M+356.1%	$23.7M-0.1%	$23.7M-12.2%	$27.0M-15.5%	$32.0M+105.6%	$15.6M+431.6%	$2.9M
Current Assets	$466.5M+40.8%	$331.4M+28.9%	$257.0M-5.0%	$270.4M+29.5%	$208.7M+35.8%	$153.7M+79.1%	$85.8M+92.7%	$44.5M-28.6%	$62.3M+187.9%	$21.7M+1.7%	$21.3M-11.6%	$24.1M-22.4%	$31.1M+122.6%	$13.9M+977.6%	$1.3M
Cash & Equivalents	$87.6M-15.0%	$103.1M+100.9%	$51.4M-40.6%	$86.5M+69.4%	$51.1M-8.6%	$55.9M+109.0%	$26.8M0.0%	$26.8M-37.9%	$43.1M+334.8%	$9.9M-5.0%	$10.4M-39.3%	$17.2M-34.2%	$26.1M+108.6%	$12.5M+14182.2%	$88K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$5.4M-15.4%	$6.4M+36.9%	$4.7M+58.5%	$2.9M	$0	$0
Inventory	$206.5M+21.3%	$170.2M-1.5%	$172.9M+5.9%	$163.3M+30.9%	$124.7M+53.0%	$81.5M+53.7%	$53.1M+185.0%	$18.6M+47.4%	$12.6M+151.6%	$5.0M+45.7%	$3.4M+101.7%	$1.7M+2.4%	$1.7M+31.9%	$1.3M+10.3%	$1.1M
Accounts Receivable	$158.4M+216.9%	$50.0M+82.3%	$27.4M+76.9%	$15.5M-45.7%	$28.6M+115.9%	$13.2M+281.5%	$3.5M+149.2%	$1.4M-64.1%	$3.9M+281.1%	$1.0M+10.1%	$924K+140.8%	$384K	$0-100.0%	$39K	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M	$0	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$146.9M+5.2%	$139.7M-28.0%	$194.0M-1.3%	$196.5M+45.5%	$135.1M+13.1%	$119.4M+18.4%	$100.9M+46.0%	$69.1M+2.1%	$67.7M+140.5%	$28.1M+22.9%	$22.9M+8.9%	$21.0M+101.9%	$10.4M+69.7%	$6.1M+141.4%	$2.5M
Current Liabilities	$69.5M+25.2%	$55.5M+11.5%	$49.8M+26.8%	$39.3M+29.3%	$30.4M+52.3%	$19.9M+42.2%	$14.0M+45.7%	$9.6M+2.0%	$9.4M-15.9%	$11.2M+166.2%	$4.2M+0.4%	$4.2M+14.8%	$3.7M+101.3%	$1.8M-21.0%	$2.3M
Non-Current Liabilities	$77.4M-8.0%	$84.1M-41.7%	$144.2M-8.3%	$157.2M+50.2%	$104.7M+5.3%	$99.5M+14.5%	$86.9M+46.0%	$59.5M+2.1%	$58.2M+244.3%	$16.9M-9.4%	$18.7M+11.1%	$16.8M+149.2%	$6.7M+56.4%	$4.3M+1709.7%	$238K
Long-Term Debt	$69.3M-4.2%	$72.3M	N/A	N/A	N/A	N/A	$0-100.0%	$2.8M0.0%	$2.8M+54.2%	$1.8M	N/A	N/A	N/A	N/A	N/A
Total Equity	$477.3M+36.8%	$349.0M+158.1%	$135.2M-11.0%	$152.0M+7.7%	$141.2M+60.0%	$88.2M+236.9%	$26.2M+32.5%	$19.8M-51.0%	$40.3M+1004.9%	-$4.5M-642.9%	$821K-86.3%	$6.0M-72.1%	$21.6M+128.9%	$9.4M+2342.5%	$386K
Retained Earnings	-$161.7M+47.6%	-$308.6M+39.0%	-$506.3M-5.9%	-$478.0M-16.0%	-$412.1M-21.0%	-$340.5M-28.6%	-$264.7M-22.3%	-$216.4M-43.6%	-$150.7M-40.9%	-$106.9M-22.3%	-$87.4M-25.9%	-$69.4M-31.9%	-$52.6M-41.8%	-$37.1M-24.5%	-$29.8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$684.2M+22.5%	$665.2M+30.3%	$624.2M+27.7%	$568.7M+45.6%	$558.4M+48.3%	$510.6M+45.5%	$488.7M+48.5%	$390.6M+11.9%
Current Assets	$528.2M+32.2%	$511.2M+45.3%	$466.5M+40.8%	$402.7M+26.5%	$399.6M+31.6%	$351.8M+27.3%	$331.4M+28.9%	$318.2M+16.3%
Cash & Equivalents	$136.0M+50.7%	$138.2M+92.9%	$87.6M-15.0%	$61.4M-29.2%	$90.3M+2.3%	$71.6M+58.0%	$103.1M+100.9%	$86.7M+16.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$239.3M+25.0%	$222.1M+29.0%	$206.5M+21.3%	$196.7M+14.5%	$191.5M+6.5%	$172.2M-3.1%	$170.2M-1.5%	$171.8M+5.3%
Accounts Receivable	$138.2M+26.0%	$135.9M+36.7%	$158.4M+216.9%	$137.7M+174.6%	$109.7M+264.4%	$99.4M+100.3%	$50.0M+82.3%	$50.1M+60.1%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%	$3.5M0.0%
Total Liabilities	$276.0M+72.4%	$274.9M+100.4%	$146.9M+5.2%	$137.5M-13.4%	$160.1M-14.9%	$137.2M-30.4%	$139.7M-28.0%	$158.7M-19.7%
Current Liabilities	$75.8M+1.1%	$73.5M+37.5%	$69.5M+25.2%	$56.5M+25.8%	$74.9M+69.6%	$53.5M+0.8%	$55.5M+11.5%	$44.9M+7.3%
Non-Current Liabilities	$200.2M+135.3%	$201.3M+140.7%	$77.4M-8.0%	$81.0M-28.8%	$85.1M-40.9%	$83.7M-41.9%	$84.1M-41.7%	$113.8M-26.9%
Long-Term Debt	$192.8M	$193.6M	$69.3M-4.2%	$70.1M	N/A	N/A	$72.3M	N/A
Total Equity	$408.2M+2.5%	$390.3M+4.5%	$477.3M+36.8%	$431.2M+85.9%	$398.3M+111.6%	$373.4M+142.9%	$349.0M+158.1%	$231.9M+53.1%
Retained Earnings	-$78.5M+68.3%	-$116.3M+58.7%	-$161.7M+47.6%	-$211.0M+49.8%	-$247.5M+45.8%	-$281.7M+42.3%	-$308.6M+39.0%	-$420.5M+13.9%

ADMA Cash Flow Statement

ADMA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$136.7M	$50.4M-57.5%	$118.7M+1248.5%	$8.8M+114.8%	-$59.5M+47.0%	-$112.4M-10.2%	-$102.0M-33.9%	-$76.2M-21.6%	-$62.7M-68.2%	-$37.3M-104.0%	-$18.3M-18.5%	-$15.4M-4.9%	-$14.7M-35.1%	-$10.9M-57.7%	-$6.9M-382.4%	-$1.4M
Depreciation & Amortization	N/A	$8.0M+3.9%	$7.7M+1.3%	$7.6M+18.8%	$6.4M+33.3%	$4.8M+50.0%	$3.2M+33.3%	$2.4M-7.7%	$2.6M+73.3%	$1.5M+275.0%	$400K-14.9%	$470K+89.6%	$248K+17.7%	$211K+15.7%	$182K-17.1%	$220K
Stock-Based Compensation	N/A	$20.0M+47.1%	$13.6M+120.1%	$6.2M+18.6%	$5.2M+49.5%	$3.5M+22.2%	$2.9M+7.7%	$2.7M+19.2%	$2.2M+42.4%	$1.6M+24.9%	$1.3M-26.9%	$1.7M+37.1%	$1.2M+40.5%	$888K+41.7%	$627K+2631.5%	$23K
Capital Expenditures	$20.3M	$22.6M+174.4%	$8.2M+72.4%	$4.8M-65.7%	$13.9M+3.0%	$13.5M+6.2%	$12.7M+233.9%	$3.8M+81.9%	$2.1M-21.7%	$2.7M+3545.7%	$73K+181.6%	$26K-98.9%	$2.3M+1081.5%	$197K+65.4%	$119K+43919.6%	$270
Free Cash Flow	$116.5M	$27.8M-74.8%	$110.4M+2641.3%	$4.0M+105.5%	-$73.4M+41.7%	-$125.9M-9.7%	-$114.7M-43.4%	-$80.0M-23.5%	-$64.8M-62.1%	-$39.9M-117.8%	-$18.3M-18.8%	-$15.4M+9.3%	-$17.0M-53.6%	-$11.1M-57.8%	-$7.0M-390.6%	-$1.4M
Investing Cash Flow	-$14.5M	-$21.9M-155.3%	-$8.6M-72.2%	-$5.0M+64.2%	-$13.9M-3.0%	-$13.5M-6.2%	-$12.7M-233.8%	-$3.8M-81.9%	-$2.1M-113.8%	$15.2M+1581.9%	$905K+151.9%	-$1.7M+56.9%	-$4.0M-29.0%	-$3.1M-2535.0%	-$119K-43919.6%	-$270
Financing Cash Flow	-$76.5M	-$44.0M+24.5%	-$58.3M-49.5%	-$39.0M-135.8%	$108.9M-10.1%	$121.0M-15.9%	$143.9M+79.9%	$80.0M+86.4%	$42.9M-29.3%	$60.8M+260.8%	$16.8M+61.9%	$10.4M+6.2%	$9.8M-64.6%	$27.6M+41.9%	$19.5M+1409.0%	$1.3M
Share Buybacks	$187.2M	$31.9M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$150K	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$29.5M+39.7%	$58.2M+396.1%	$35.6M-29.0%	$13.3M-46.9%	$21.1M-53.7%	-$19.7M-787.1%	$50.2M+185.4%	$25.0M+108.8%
Depreciation & Amortization	$1.7M-15.0%	$1.8M-5.3%	$2.0M0.0%	$2.0M+5.3%	$2.0M+5.3%	$1.9M0.0%	$2.0M+5.3%	$1.9M0.0%
Stock-Based Compensation	$6.1M+23.6%	$6.3M+36.9%	N/A	$5.0M+58.8%	$5.0M+73.3%	$4.6M+116.0%	N/A	$3.2M+87.6%
Capital Expenditures	$2.3M-6.9%	$2.5M-45.9%	$1.1M-60.7%	$14.4M+1260.6%	$2.4M+17.2%	$4.7M+100.3%	$2.8M+130.3%	$1.1M+39.5%
Free Cash Flow	$27.3M+45.8%	$55.7M+328.5%	$34.6M-27.2%	-$1.1M-104.5%	$18.7M-57.1%	-$24.4M-434.0%	$47.5M+189.4%	$24.0M+113.5%
Investing Cash Flow	-$2.3M+10.7%	$2.4M+150.9%	-$276K+90.0%	-$14.4M-1208.6%	-$2.5M-6.8%	-$4.7M-99.8%	-$2.8M-95.5%	-$1.1M-45.0%
Financing Cash Flow	-$29.4M-61383.3%	-$10.1M-42.1%	-$9.1M+70.6%	-$27.8M-9.3%	$48K+113.3%	-$7.1M-392.5%	-$31.0M+20.4%	-$25.5M-6221.9%
Share Buybacks	$25.1M	$130.2M	$8.9M	$23.0M	$0	$0	$0	N/A

Not reported in any period shown, so not listed: Dividends Paid.

ADMA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ADMA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	57.4%+5.9pp	51.5%+17.0pp	34.4%+11.5pp	22.9%+21.4pp	1.5%+46.6pp	-45.2%-10.6pp	-34.6%	-148.4%	-28.1%-68.5pp	40.3%+0.4pp	39.9%+3.2pp	36.7%+2.7pp	34.0%-6.1pp	40.2%-32.6pp	72.7%
Operating Margin	37.5%+4.9pp	32.6%+24.2pp	8.4%+33.9pp	-25.6%+46.6pp	-72.1%	-153.8%	-141.1%	-354.9%	-172.7%	-162.6%	-216.1%	-270.8%	-490.4%	-707.4%	-607.4%
Net Margin	28.8%-17.6pp	46.4%+57.3pp	-10.9%+31.9pp	-42.8%+45.7pp	-88.5%	-179.4%	-164.5%	-387.1%	-192.3%	-183.1%	-250.4%	-284.2%	-506.2%	-653.0%	-775.7%
Return on Equity	30.8%-25.9pp	56.6%+77.5pp	-20.9%+22.5pp	-43.4%+7.4pp	-50.7%+35.1pp	-85.8%+98.5pp	-184.3%+148.2pp	-332.5%-224.0pp	-108.5%	N/A	-2188.8%-1909.0pp	-279.8%-207.8pp	-72.0%+5.5pp	-77.5%+1452.6pp	-1530.1%
Return on Assets	23.5%-16.9pp	40.5%+49.0pp	-8.6%+10.3pp	-18.9%+7.0pp	-25.9%+10.5pp	-36.5%+1.5pp	-38.0%+36.0pp	-74.0%-33.5pp	-40.5%+41.9pp	-82.4%-6.6pp	-75.8%-13.6pp	-62.2%-13.7pp	-48.5%-1.6pp	-46.9%+154.8pp	-201.8%
Current Ratio	6.71+0.7x	5.97+0.8x	5.16-1.7x	6.890.0x	6.87-0.8x	7.71+1.6x	6.12+1.5x	4.63-2.0x	6.60+4.7x	1.93-3.1x	5.05-0.7x	5.74-2.8x	8.49+0.8x	7.68+7.1x	0.56
Debt-to-Equity	0.15-0.1x	0.21-1.2x	1.43+0.1x	1.29+0.3x	0.96-0.4x	1.35+1.4x	0.00-0.1x	0.14+0.1x	0.07	N/A	27.89+24.4x	3.50+3.0x	0.48-0.2x	0.65-5.9x	6.58
Asset Turnover	0.82-0.1x	0.87+0.1x	0.78+0.3x	0.44+0.1x	0.29+0.1x	0.200.0x	0.230.0x	0.190.0x	0.21-0.2x	0.45+0.1x	0.30+0.1x	0.22+0.1x	0.100.0x	0.07-0.2x	0.26
FCF Margin	5.5%-20.5pp	25.9%+24.3pp	1.6%+49.2pp	-47.6%	-155.5%	-271.7%	-272.6%	-381.4%	-175.5%	-172.0%	-215.2%	-287.8%	-361.3%	-628.1%	-188.1%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	69.4%+14.2pp	70.5%+17.3pp	63.8%+9.9pp	56.3%+6.6pp	55.1%+1.5pp	53.2%+5.4pp	53.9%+11.8pp	49.8%+13.1pp
Operating Margin	42.2%+7.1pp	50.9%+20.5pp	45.1%+12.5pp	38.0%+4.9pp	35.1%-1.5pp	30.4%+3.7pp	32.6%+13.3pp	33.1%+20.2pp
Net Margin	30.4%+2.3pp	39.6%+16.1pp	35.5%-59.7pp	27.1%-2.8pp	28.1%-1.9pp	23.4%+1.7pp	95.2%+119.0pp	30.0%+26.1pp
Return on Equity	9.3%+0.7pp	11.6%+4.4pp	10.3%-21.7pp	8.5%-7.0pp	8.6%-8.4pp	7.2%-4.4pp	32.1%+45.1pp	15.5%+13.8pp
Return on Assets	5.5%-0.6pp	6.8%+1.5pp	7.9%-15.0pp	6.4%-2.8pp	6.1%-2.4pp	5.3%+0.2pp	22.9%+28.3pp	9.2%+8.5pp
Current Ratio	6.97+1.6x	6.95+0.4x	6.71+0.7x	7.130.0x	5.33-1.5x	6.58+1.4x	5.97+0.8x	7.09+0.5x
Debt-to-Equity	0.47+0.1x	0.50+0.1x	0.15-0.1x	0.16-0.5x	0.40-0.6x	0.37-0.9x	0.21-1.2x	0.68-0.6x
Asset Turnover	0.180.0x	0.17-0.1x	0.220.0x	0.24-0.1x	0.22-0.1x	0.220.0x	0.240.0x	0.31+0.1x
FCF Margin	21.9%+6.6pp	48.6%+69.9pp	24.8%-15.5pp	-0.8%-20.8pp	15.3%-25.3pp	-21.2%-15.6pp	40.4%+18.2pp	20.0%+3.3pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ADMA Biologics, Inc. ADMA	FY2025	$510.2M	$146.9M	28.8%	$2.2B	81/100
Zai Lab Limited ZLAB	FY2025	$460.2M	-$175.5M	-38.1%	$2.7B	64/100
Acadia Pharmaceuticals Inc. ACAD	FY2025	$1.1B	$391.0M	36.5%	$3.4B	68/100
Metsera, Inc. MTSR	FY2024	N/A	-$209.1M	N/A	$7.4B	—
Mirum Pharmaceuticals, Inc. MIRM	FY2025	$521.3M	-$23.4M	-4.5%	$5.4B	71/100
Protagonist Therapeutics, Inc PTGX	FY2025	$46.0M	-$130.1M	N/A	$9.1B	76/100

Where ADMA Biologics, Inc. Ranks

Frequently Asked Questions

What is ADMA Biologics, Inc.'s annual revenue?

ADMA Biologics, Inc. (ADMA) reported $510.2M in total revenue for fiscal year 2025. This represents a 19.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ADMA Biologics, Inc.'s revenue growing?

ADMA Biologics, Inc. (ADMA) revenue grew by 19.6% year-over-year, from $426.5M to $510.2M in fiscal year 2025.

Is ADMA Biologics, Inc. profitable?

Yes, ADMA Biologics, Inc. (ADMA) reported a net income of $146.9M in fiscal year 2025, with a net profit margin of 28.8%.

What is ADMA Biologics, Inc.'s EBITDA?

ADMA Biologics, Inc. (ADMA) had EBITDA of $199.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does ADMA Biologics, Inc. have?

As of fiscal year 2025, ADMA Biologics, Inc. (ADMA) had $87.6M in cash and equivalents against $69.3M in long-term debt.

What is ADMA Biologics, Inc.'s gross margin?

ADMA Biologics, Inc. (ADMA) had a gross margin of 57.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is ADMA Biologics, Inc.'s operating margin?

ADMA Biologics, Inc. (ADMA) had an operating margin of 37.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ADMA Biologics, Inc.'s net profit margin?

ADMA Biologics, Inc. (ADMA) had a net profit margin of 28.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ADMA Biologics, Inc.'s return on equity (ROE)?

ADMA Biologics, Inc. (ADMA) has a return on equity of 30.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ADMA Biologics, Inc.'s free cash flow?

ADMA Biologics, Inc. (ADMA) generated $27.8M in free cash flow during fiscal year 2025. This represents a -74.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ADMA Biologics, Inc.'s operating cash flow?

ADMA Biologics, Inc. (ADMA) generated $50.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ADMA Biologics, Inc.'s total assets?

ADMA Biologics, Inc. (ADMA) had $624.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are ADMA Biologics, Inc.'s capital expenditures?

ADMA Biologics, Inc. (ADMA) invested $22.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does ADMA Biologics, Inc. spend on research and development?

ADMA Biologics, Inc. (ADMA) invested $4.8M in research and development during fiscal year 2025.

Does ADMA Biologics, Inc. buy back shares?

Yes, ADMA Biologics, Inc. (ADMA) spent $31.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does ADMA Biologics, Inc. have outstanding?

ADMA Biologics, Inc. (ADMA) had 238M shares outstanding as of fiscal year 2025.

What is ADMA Biologics, Inc.'s current ratio?

ADMA Biologics, Inc. (ADMA) had a current ratio of 6.71 as of fiscal year 2025, which is generally considered healthy.

What is ADMA Biologics, Inc.'s debt-to-equity ratio?

ADMA Biologics, Inc. (ADMA) had a debt-to-equity ratio of 0.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ADMA Biologics, Inc.'s return on assets (ROA)?

ADMA Biologics, Inc. (ADMA) had a return on assets of 23.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ADMA Biologics, Inc.'s P/E ratio?

ADMA Biologics, Inc. (ADMA) trades at 12.9x earnings, its market capitalization divided by net income of $169.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.2B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ADMA Biologics, Inc.'s price-to-sales ratio?

ADMA Biologics, Inc. (ADMA) trades at 4.2x sales, its market capitalization divided by revenue of $512.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.2B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ADMA Biologics, Inc.'s Altman Z-Score?

ADMA Biologics, Inc. (ADMA) has an Altman Z-Score of 11.12, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ADMA Biologics, Inc.'s Piotroski F-Score?

ADMA Biologics, Inc. (ADMA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ADMA Biologics, Inc.'s earnings high quality?

ADMA Biologics, Inc. (ADMA) has an earnings quality ratio of 0.34x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can ADMA Biologics, Inc. cover its interest payments?

ADMA Biologics, Inc. (ADMA) has an interest coverage ratio of 26.93x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is ADMA Biologics, Inc.?

ADMA Biologics, Inc. (ADMA) scores 81 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.