Emergent Biosolutions Inc Financials
This page shows Emergent Biosolutions Inc (EBS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
A mix-and-cost reset turned a smaller revenue base into higher margins and unusually strong cash conversion.
From FY2024 to FY2025, revenue fell to$743M even as gross margin widened to56.1% , an unusual combination that means the company kept far more profit from each sale. With free cash flow rising to$156.8M on just$13.8M of capex, the turnaround looks driven by higher-margin mix and a reset cost structure, not by recovering volume.
Short-term liquidity looks repaired: cash reached
FY2025 earnings were cash-backed: operating cash flow of
Financial Health Signals
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 Emergent Biosolutions 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.
Emergent Biosolutions Inc has an operating margin of 13.5%, meaning the company retains $13 of operating profit per $100 of revenue. This below-average margin results in a low score of 20/100, suggesting thin profitability after operating expenses. This is up from -10.4% the prior year.
Emergent Biosolutions Inc's revenue declined 28.8% year-over-year, from $1.0B to $742.9M. This contraction results in a growth score of 7/100.
Emergent Biosolutions Inc has a moderate D/E ratio of 1.09. This balance of debt and equity financing earns a leverage score of 32/100.
With a current ratio of 5.01, Emergent Biosolutions Inc holds $5.01 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 90/100.
Emergent Biosolutions Inc has a free cash flow margin of 21.1%, earning a moderate score of 55/100. The company generates positive cash flow after capital investments, but with room for improvement.
Emergent Biosolutions Inc generates a 10.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is up from -39.5% the prior year.
Emergent Biosolutions Inc scores 1.44, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Emergent Biosolutions Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Emergent Biosolutions Inc generates $3.24 in operating cash flow ($170.6M OCF vs $52.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Emergent Biosolutions Inc earns $1.7 in operating income for every $1 of interest expense ($100.1M vs $59.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Emergent Biosolutions Inc generated $742.9M in revenue in fiscal year 2025. This represents a decrease of 28.8% from the prior year.
Emergent Biosolutions Inc's EBITDA was $195.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 195800.0% from the prior year.
Emergent Biosolutions Inc reported $52.6M in net income in fiscal year 2025. This represents an increase of 127.6% from the prior year.
Emergent Biosolutions Inc earned $0.93 per diluted share (EPS) in fiscal year 2025. This represents an increase of 125.8% from the prior year.
Cash & Balance Sheet
Emergent Biosolutions Inc generated $156.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 338.0% from the prior year.
Emergent Biosolutions Inc held $205.4M in cash against $572.1M in long-term debt as of fiscal year 2025.
Emergent Biosolutions Inc had 52M shares outstanding in fiscal year 2025. This represents a decrease of 4.1% from the prior year.
Margins & Returns
Emergent Biosolutions Inc's gross margin was 56.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 21.4 percentage points from the prior year.
Emergent Biosolutions Inc's operating margin was 13.5% in fiscal year 2025, reflecting core business profitability. This is up 23.9 percentage points from the prior year.
Emergent Biosolutions Inc's net profit margin was 7.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 25.3 percentage points from the prior year.
Emergent Biosolutions Inc's ROE was 10.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 49.5 percentage points from the prior year.
Capital Allocation
Emergent Biosolutions Inc invested $53.2M in research and development in fiscal year 2025. This represents a decrease of 24.8% from the prior year.
Emergent Biosolutions Inc spent $24.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Emergent Biosolutions Inc invested $13.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 39.7% from the prior year.
EBS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $156.1M+5.0% | $148.7M-35.7% | $231.1M+64.0% | $140.9M-36.6% | $222.2M+14.1% | $194.7M-33.7% | $293.8M+15.4% | $254.7M |
| Cost of Revenue | $72.0M-15.2% | $84.9M-1.2% | $85.9M+28.4% | $66.9M-24.4% | $88.5M-25.0% | $118.0M-3.8% | $122.6M-58.6% | $296.1M |
| Gross Profit | $84.1M+31.8% | $63.8M-56.1% | $145.2M+96.2% | $74.0M-44.7% | $133.7M+32.0% | $101.3M-37.2% | $161.2M+435.8% | -$48.0M |
| R&D Expenses | $10.5M-13.2% | $12.1M-10.4% | $13.5M+8.0% | $12.5M-17.2% | $15.1M+65.9% | $9.1M-34.1% | $13.8M-57.8% | $32.7M |
| SG&A Expenses | $46.6M-8.8% | $51.1M+31.4% | $38.9M-11.0% | $43.7M-16.6% | $52.4M-13.8% | $60.8M-20.6% | $76.6M-10.8% | $85.9M |
| Operating Income | $10.5M+137.6% | -$27.9M-136.5% | $76.5M+4681.3% | $1.6M-96.8% | $49.9M+625.3% | -$9.5M-114.7% | $64.5M+131.7% | -$203.5M |
| Interest Expense | $11.0M-25.2% | $14.7M-3.3% | $15.2M+3.4% | $14.7M0.0% | $14.7M-0.7% | $14.8M+78.3% | $8.3M-64.8% | $23.6M |
| Income Tax | $6.6M+69.2% | $3.9M-39.1% | $6.4M+233.3% | -$4.8M-119.4% | $24.7M+567.6% | $3.7M-86.6% | $27.6M+107.5% | $13.3M |
| Net Income | $6.8M+112.5% | -$54.6M-206.6% | $51.2M+526.7% | -$12.0M-117.6% | $68.0M+317.3% | -$31.3M-127.3% | $114.8M+140.6% | -$283.1M |
| EPS (Diluted) | $0.07 | N/A | $0.91+513.6% | $-0.22-118.5% | $1.19 | N/A | $2.06+138.3% | $-5.38 |
EBS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+0.1% | $1.3B-9.7% | $1.5B+3.1% | $1.4B-0.6% | $1.4B+2.6% | $1.4B-6.0% | $1.5B-2.4% | $1.5B |
| Current Assets | $637.6M-3.8% | $662.5M-15.8% | $786.9M+9.4% | $719.5M+1.8% | $706.8M+18.1% | $598.7M-9.5% | $661.4M+1.1% | $654.5M |
| Cash & Equivalents | $160.3M-22.0% | $205.4M-16.3% | $245.5M-8.2% | $267.3M+79.3% | $149.1M+49.8% | $99.5M-33.6% | $149.9M+115.1% | $69.7M |
| Inventory | $327.6M-4.6% | $343.4M-3.6% | $356.3M+5.2% | $338.6M+7.8% | $314.0M+0.7% | $311.7M-3.4% | $322.7M+1.6% | $317.5M |
| Accounts Receivable | $121.6M+44.4% | $84.2M-43.7% | $149.5M+87.3% | $79.8M-60.8% | $203.7M+31.8% | $154.5M+27.4% | $121.3M-38.2% | $196.3M |
| Goodwill | N/A | $0 | N/A | N/A | N/A | $0 | $0 | $0 |
| Total Liabilities | $797.3M+0.2% | $796.0M-9.4% | $878.5M-0.3% | $880.9M+0.9% | $873.4M-3.7% | $906.9M-6.4% | $969.4M-14.0% | $1.1B |
| Current Liabilities | $148.7M+12.5% | $132.2M-3.2% | $136.5M+7.4% | $127.1M+13.6% | $111.9M-31.1% | $162.4M-29.4% | $229.9M-62.9% | $619.7M |
| Long-Term Debt | $573.6M+0.3% | $572.1M-13.7% | $663.1M-0.7% | $667.8M+0.3% | $665.7M+0.3% | $663.7M+0.3% | $661.8M+48.1% | $447.0M |
| Total Equity | $523.1M+0.1% | $522.6M-10.3% | $582.5M+8.6% | $536.2M-3.0% | $552.7M+14.5% | $482.8M-5.0% | $508.4M+31.6% | $386.3M |
| Retained Earnings | -$153.0M+4.3% | -$159.8M-51.9% | -$105.2M+32.7% | -$156.4M-8.3% | -$144.4M+32.0% | -$212.4M-17.3% | -$181.1M+38.8% | -$295.9M |
EBS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$33.8M-143.5% | $77.7M+3478.3% | -$2.3M-102.2% | $106.4M+1050.0% | -$11.2M+86.0% | -$79.9M-152.0% | $153.7M+223.6% | $47.5M |
| Capital Expenditures | $2.4M-38.5% | $3.9M+14.7% | $3.4M+17.2% | $2.9M-19.4% | $3.6M+111.8% | $1.7M-70.7% | $5.8M+26.1% | $4.6M |
| Free Cash Flow | -$36.2M-149.1% | $73.8M+1394.7% | -$5.7M-105.5% | $103.5M+799.3% | -$14.8M+81.9% | -$81.6M-155.2% | $147.9M+244.8% | $42.9M |
| Investing Cash Flow | -$2.4M+38.5% | -$3.9M-14.7% | -$3.4M-119.8% | $17.2M-71.1% | $59.5M+108.0% | $28.6M-74.5% | $112.0M+2534.8% | -$4.6M |
| Financing Cash Flow | -$11.4M+90.0% | -$113.9M-616.4% | -$15.9M-148.4% | -$6.4M-1500.0% | -$400K-180.0% | $500K+100.3% | -$180.3M-254.2% | -$50.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $9.0M-1.1% | $9.1M+2.2% | $8.9M+29.0% | $6.9M | $0 | $0 | $0 | N/A |
EBS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.9%+11.0pp | 42.9%-19.9pp | 62.8%+10.3pp | 52.5%-7.7pp | 60.2%+8.1pp | 52.0%-2.8pp | 54.9%+73.7pp | -18.9% |
| Operating Margin | 6.7%+25.5pp | -18.8%-51.9pp | 33.1%+32.0pp | 1.1%-21.3pp | 22.5%+27.3pp | -4.9%-26.8pp | 21.9%+101.8pp | -79.9% |
| Net Margin | 4.4%+41.1pp | -36.7%-58.9pp | 22.1%+30.7pp | -8.5%-39.1pp | 30.6%+46.7pp | -16.1%-55.1pp | 39.1%+150.2pp | -111.1% |
| Return on Equity | 1.3%+11.7pp | -10.4%-19.2pp | 8.8%+11.0pp | -2.2%-14.5pp | 12.3%+18.8pp | -6.5%-29.1pp | 22.6%+95.9pp | -73.3% |
| Return on Assets | 0.5%+4.7pp | -4.1%-7.6pp | 3.5%+4.4pp | -0.9%-5.6pp | 4.8%+7.0pp | -2.3%-10.0pp | 7.8%+26.5pp | -18.7% |
| Current Ratio | 4.29-0.7 | 5.01-0.8 | 5.76+0.1 | 5.66-0.7 | 6.32+2.6 | 3.69+0.8 | 2.88+1.8 | 1.06 |
| Debt-to-Equity | 1.100.0 | 1.09-0.0 | 1.14-0.1 | 1.25+0.0 | 1.20-0.2 | 1.37+0.1 | 1.30+0.1 | 1.16 |
| FCF Margin | -23.2%-72.8pp | 49.6%+52.1pp | -2.5%-75.9pp | 73.5%+80.1pp | -6.7%+35.3pp | -41.9%-92.2pp | 50.3%+33.5pp | 16.8% |
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Frequently Asked Questions
What is Emergent Biosolutions Inc's annual revenue?
Emergent Biosolutions Inc (EBS) reported $742.9M in total revenue for fiscal year 2025. This represents a -28.8% 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 Emergent Biosolutions Inc's revenue growing?
Emergent Biosolutions Inc (EBS) revenue declined by 28.8% year-over-year, from $1.0B to $742.9M in fiscal year 2025.
Is Emergent Biosolutions Inc profitable?
Yes, Emergent Biosolutions Inc (EBS) reported a net income of $52.6M in fiscal year 2025, with a net profit margin of 7.1%.
What is Emergent Biosolutions Inc's EBITDA?
Emergent Biosolutions Inc (EBS) had EBITDA of $195.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Emergent Biosolutions Inc have?
As of fiscal year 2025, Emergent Biosolutions Inc (EBS) had $205.4M in cash and equivalents against $572.1M in long-term debt.
What is Emergent Biosolutions Inc's gross margin?
Emergent Biosolutions Inc (EBS) had a gross margin of 56.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Emergent Biosolutions Inc's operating margin?
Emergent Biosolutions Inc (EBS) had an operating margin of 13.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Emergent Biosolutions Inc's net profit margin?
Emergent Biosolutions Inc (EBS) had a net profit margin of 7.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Emergent Biosolutions Inc's return on equity (ROE)?
Emergent Biosolutions Inc (EBS) has a return on equity of 10.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Emergent Biosolutions Inc's free cash flow?
Emergent Biosolutions Inc (EBS) generated $156.8M in free cash flow during fiscal year 2025. This represents a 338.0% 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 Emergent Biosolutions Inc's operating cash flow?
Emergent Biosolutions Inc (EBS) generated $170.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Emergent Biosolutions Inc's total assets?
Emergent Biosolutions Inc (EBS) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Emergent Biosolutions Inc's capital expenditures?
Emergent Biosolutions Inc (EBS) invested $13.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Emergent Biosolutions Inc spend on research and development?
Emergent Biosolutions Inc (EBS) invested $53.2M in research and development during fiscal year 2025.
What is Emergent Biosolutions Inc's current ratio?
Emergent Biosolutions Inc (EBS) had a current ratio of 5.01 as of fiscal year 2025, which is generally considered healthy.
What is Emergent Biosolutions Inc's debt-to-equity ratio?
Emergent Biosolutions Inc (EBS) had a debt-to-equity ratio of 1.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Emergent Biosolutions Inc's return on assets (ROA)?
Emergent Biosolutions Inc (EBS) had a return on assets of 4.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Emergent Biosolutions Inc's Altman Z-Score?
Emergent Biosolutions Inc (EBS) has an Altman Z-Score of 1.44, placing it in the Distress Zone (elevated 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 Emergent Biosolutions Inc's Piotroski F-Score?
Emergent Biosolutions Inc (EBS) has a Piotroski F-Score of 8 out of 9, indicating strong 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 Emergent Biosolutions Inc's earnings high quality?
Emergent Biosolutions Inc (EBS) has an earnings quality ratio of 3.24x, considered cash-backed (high quality). 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 Emergent Biosolutions Inc cover its interest payments?
Emergent Biosolutions Inc (EBS) has an interest coverage ratio of 1.7x, meaning it can struggle to 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 Emergent Biosolutions Inc?
Emergent Biosolutions Inc (EBS) scores 37 out of 100 on our Financial Health Score, indicating weak 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.