NASDAQ : ADMA
ADMA Biologics, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 11.41 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.56B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
ADMA Biologics, Inc. (ADMA) reported revenue of 512.27M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 512.27M | 510.17M | 426.45M | 258.21M | 154.08M | 80.94M |
| Cost of Revenue | 180.81M | 217.41M | 206.90M | 169.27M | 118.81M | 79.77M |
| Gross Profit | 331.47M | 292.76M | 219.55M | 88.94M | 35.27M | 1.17M |
| Selling, General & Admin | 103.25M | 96.42M | 78.37M | 62.59M | 70.30M | 55.19M |
| Research & Development | 11.52M | 4.76M | 1.81M | 3.30M | 3.61M | 2.85M |
| Amortization of Goodwill & Intangibles | 197.00K | 144.00K | 388.00K | 724.00K | 715.00K | 715.00K |
| Operating Expenses | 114.97M | 101.32M | 80.57M | 66.61M | 74.63M | 58.75M |
| Operating Income | 216.50M | 191.44M | 138.98M | 22.33M | -39.37M | -57.57M |
| Interest Expense | -8.82M | -7.11M | -13.93M | -25.03M | -19.28M | -13.06M |
| Interest & Investment Income | 3.19M | 1.87M | 2.10M | 1.62M | 45.00K | 35.00K |
| Other Non Operating Income (Expenses) | -201.00K | -212.00K | -193.00K | -287.00K | -635.00K | -252.00K |
| EBT Excluding Unusual Items | 210.67M | 185.99M | 126.96M | -1.36M | -59.23M | -70.85M |
| Gain (Loss) on Sale of Assets | 7.98M | |||||
| Other Unusual Items | -2.18M | -3.34M | -1.24M | -26.87M | -6.67M | -800.00K |
| Pretax Income | 216.47M | 182.66M | 125.71M | -28.24M | -65.90M | -71.65M |
| Income Tax Expense | 47.52M | 35.73M | -71.96M | |||
| Net Income | 168.96M | 146.93M | 197.67M | -28.24M | -65.90M | -71.65M |
| Net Income to Common | 168.96M | 146.93M | 197.67M | -28.24M | -65.90M | -71.65M |
| Shares Outstanding (Basic) | 235.21M | 238.30M | 233.08M | 223.98M | 197.87M | 139.58M |
| Shares Outstanding (Diluted) | 239.65M | 244.90M | 233.08M | 223.98M | 197.87M | 139.58M |
| EPS (Basic) | 0.72 | 0.62 | 0.85 | -0.13 | -0.33 | -0.51 |
| EPS (Diluted) | 0.70 | 0.60 | 0.81 | -0.13 | -0.33 | -0.51 |
| Free Cash Flow | 116.47M | 27.82M | 110.45M | 4.03M | -73.42M | -125.88M |
| Free Cash Flow Per Share | 0.49 | 0.11 | 0.47 | 0.02 | -0.37 | -0.90 |
| Gross Margin | 64.70% | 57.38% | 51.48% | 34.45% | 22.89% | 1.45% |
| Operating Margin | 42.26% | 37.52% | 32.59% | 8.65% | -25.55% | -71.13% |
| Profit Margin | 32.98% | 28.80% | 46.35% | -10.94% | -42.77% | -88.52% |
| Free Cash Flow Margin | 22.74% | 5.45% | 25.90% | 1.56% | -47.65% | -155.52% |
| EBITDA | 224.19M | 199.54M | 147.03M | 30.66M | -32.25M | -52.08M |
| EBITDA Margin | 43.76% | 39.11% | 34.48% | 11.88% | -20.93% | -64.34% |
| D&A For EBITDA | 7.69M | 8.10M | 8.04M | 8.33M | 7.11M | 5.50M |
| EBIT | 216.50M | 191.44M | 138.98M | 22.33M | -39.37M | -57.57M |
| EBIT Margin | 42.26% | 37.52% | 32.59% | 8.65% | -25.55% | -71.13% |
| Effective Tax Rate | 21.95% | 19.56% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 136.02M | 87.63M | 103.15M | 51.35M | 86.52M | 51.09M |
| Cash & Short-Term Investments | 136.02M | 87.63M | 103.15M | 51.35M | 86.52M | 51.09M |
| Receivables | 138.23M | 158.43M | 50.00M | 27.42M | 15.51M | 28.58M |
| Inventory | 239.31M | 206.47M | 170.24M | 172.91M | 163.28M | 124.72M |
| Prepaid Expenses | 14.64M | 7.46M | 8.03M | 5.33M | 5.09M | 4.34M |
| Other Current Assets | 6.53M | |||||
| Total Current Assets | 528.20M | 466.51M | 331.41M | 257.01M | 270.40M | 208.73M |
| Property, Plant & Equipment | 72.81M | 71.71M | 63.34M | 63.47M | 68.75M | 58.20M |
| Goodwill | 3.53M | 3.53M | 3.53M | 3.53M | 3.53M | 3.53M |
| Other Intangible Assets | 575.00K | 632.00K | 460.00K | 499.00K | 1.01M | 1.73M |
| Long-Term Deferred Tax Assets | 69.97M | 73.26M | 84.28M | |||
| Other Long-Term Assets | 9.13M | 8.60M | 5.66M | 4.67M | 4.77M | 4.07M |
| Total Assets | 684.21M | 624.24M | 488.68M | 329.18M | 348.46M | 276.25M |
| Accounts Payable | 31.72M | 22.52M | 20.22M | 15.66M | 13.23M | 12.43M |
| Accrued Expenses | 28.11M | 27.68M | 28.63M | 30.55M | 23.19M | 16.23M |
| Current Portion of Long-Term Debt | 3.75M | 2.81M | ||||
| Current Portion of Leases | 1.18M | 1.10M | 1.22M | 1.04M | 905.00K | 591.08K |
| Current Income Taxes Payable | 6.22M | 8.62M | 3.48M | |||
| Current Unearned Revenue | 182.00K | 143.00K | 142.83K | |||
| Other Current Liabilities | 4.78M | 6.82M | 2.00M | 2.37M | 1.80M | 981.72K |
| Total Current Liabilities | 75.76M | 69.54M | 55.54M | 49.81M | 39.27M | 30.38M |
| Long-Term Debt | 192.84M | 69.33M | 72.34M | 130.59M | 142.83M | 94.87M |
| Long-Term Leases | 6.07M | 6.65M | 8.56M | 9.78M | 10.70M | 7.46M |
| Long-Term Unearned Revenue | 1.33M | 1.41M | 1.55M | 1.69M | 1.83M | 1.98M |
| Other Long-Term Liabilities | 1.67M | 2.11M | 1.85M | 397.35K | ||
| Total Liabilities | 276.00M | 146.92M | 139.66M | 193.98M | 196.49M | 135.08M |
| Common Stock | 24.00K | 24.00K | 24.00K | 23.00K | 22.00K | 19.58K |
| Additional Paid-In Capital | 675.14M | 671.04M | 657.58M | 641.44M | 629.97M | 553.27M |
| Retained Earnings | -78.50M | -161.65M | -308.58M | -506.26M | -478.02M | -412.11M |
| Treasury Stock | -188.45M | -32.09M | ||||
| Shareholders' Equity | 408.21M | 477.32M | 349.02M | 135.21M | 151.97M | 141.17M |
| Total Liabilities & Equity | 684.21M | 624.24M | 488.68M | 329.18M | 348.46M | 276.25M |
| Total Debt | 203.84M | 79.89M | 82.12M | 141.42M | 154.44M | 102.92M |
| Net Cash (Debt) | -67.82M | 7.75M | 21.03M | -90.07M | -67.92M | -51.83M |
| Net Cash Per Share | -0.28 | 0.03 | 0.09 | -0.40 | -0.34 | -0.37 |
| Filing Date Shares Outstanding | 223.98M | 238.16M | 237.62M | 228.22M | 222.16M | 195.92M |
| Total Common Shares Outstanding | 225.36M | 237.87M | 236.62M | 226.06M | 221.82M | 195.81M |
| Working Capital | 452.45M | 396.97M | 275.87M | 207.21M | 231.13M | 178.35M |
| Book Value Per Share | 1.81 | 2.01 | 1.48 | 0.60 | 0.69 | 0.72 |
| Tangible Book Value | 404.10M | 473.16M | 345.03M | 131.18M | 147.43M | 135.91M |
| Tangible Book Value Per Share | 1.79 | 1.99 | 1.46 | 0.58 | 0.66 | 0.69 |
| Land | 13.04M | 13.04M | 4.34M | 4.34M | 4.34M | 4.34M |
| Buildings | 27.60M | 26.89M | 21.79M | 20.22M | 19.54M | 19.07M |
| Machinery | 41.88M | 40.04M | 32.92M | 32.93M | 29.20M | 24.17M |
| Construction In Progress | 10.82M | 8.46M | 8.15M | 2.27M | 6.73M | 5.50M |
| Leasehold Improvements | 15.05M | 14.98M | 21.07M | 20.81M | 17.93M | 11.13M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 168.96M | 146.93M | 197.67M | -28.24M | -65.90M | -71.65M |
| Depreciation & Amortization | 7.69M | 8.10M | 8.04M | 8.33M | 7.11M | 5.50M |
| Other Amortization | 750.00K | 717.00K | 951.00K | 2.59M | 2.40M | 1.90M |
| Loss (Gain) From Sale of Assets | -7.93M | 9.00K | 106.00K | 182.00K | 427.00K | 221.00K |
| Stock-Based Compensation | 22.90M | 20.03M | 13.62M | 6.19M | 5.21M | 3.49M |
| Other Operating Activities | 11.30M | 14.21M | -83.18M | 29.87M | 9.53M | -143.00K |
| Change in Accounts Receivable | -28.51M | -108.43M | -22.58M | -11.92M | 13.07M | -15.34M |
| Change in Inventory | -47.85M | -36.23M | 2.67M | -9.63M | -38.56M | -43.19M |
| Change in Accounts Payable | 1.77M | 2.33M | 4.15M | 3.84M | 800.00K | 1.36M |
| Change in Other Net Operating Assets | 7.63M | 2.73M | -2.78M | 7.58M | 6.40M | 5.49M |
| Operating Cash Flow | 136.72M | 50.40M | 118.67M | 8.80M | -59.51M | -112.37M |
| Capital Expenditures | -20.25M | -22.57M | -8.23M | -4.77M | -13.91M | -13.51M |
| Sale of Property, Plant & Equipment | 5.00M | |||||
| Sale (Purchase) of Intangibles | -245.00K | -316.00K | -349.00K | -210.00K | ||
| Other Investing Activities | 1.00M | 1.00M | ||||
| Investing Cash Flow | -14.50M | -21.89M | -8.57M | -4.98M | -13.91M | -13.51M |
| Long-Term Debt Issued | 105.00M | 135.00M | 151.75M | |||
| Long-Term Debt Repaid | -105.94M | -60.00M | -158.60M | -100.04M | -34.00K | |
| Net Debt Issued (Repaid) | 123.12M | -938.00K | -60.00M | -23.60M | 51.71M | -34.00K |
| Issuance of Common Stock | 1.44M | 2.98M | 7.49M | 1.10M | 64.82M | 121.14M |
| Repurchase of Common Stock | -197.30M | -41.49M | -4.97M | -1.42M | -2.90M | -62.00K |
| Other Financing Activities | -3.76M | -4.58M | -825.00K | -15.08M | -4.78M | |
| Financing Cash Flow | -76.49M | -44.02M | -58.30M | -38.99M | 108.85M | 121.05M |
| Net Cash Flow | 45.73M | -15.52M | 51.80M | -35.17M | 35.43M | -4.83M |
| Free Cash Flow | 116.47M | 27.82M | 110.45M | 4.03M | -73.42M | -125.88M |
| Free Cash Flow Margin | 22.74% | 5.45% | 25.90% | 1.56% | -47.65% | -155.52% |
| Free Cash Flow Per Share | 0.49 | 0.11 | 0.47 | 0.02 | -0.37 | -0.90 |
| Levered Free Cash Flow | 54.76M | -18.15M | 75.16M | -934.38K | -53.50M | -96.39M |
| Unlevered Free Cash Flow | 59.52M | -14.43M | 82.91M | 12.11M | -43.85M | -90.13M |
| Cash Interest Paid | 9.29M | 9.08M | 10.67M | 18.05M | 13.88M | 11.16M |
| Cash Income Tax Paid | 35.86M | 19.68M | 9.39M | |||
| Change in Working Capital | -66.95M | -139.59M | -18.54M | -10.12M | -18.29M | -51.68M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.56B | 4.34B | 4.05B | 1.02B | 857.10M | 276.10M |
| Enterprise Value | 2.62B | 4.36B | 4.08B | 1.10B | 974.92M | 343.47M |
| Last Close Price | 11.41 | 18.24 | 17.15 | 4.52 | 3.88 | 1.41 |
| PE Ratio | 16.29 | 29.55 | 20.51 | |||
| Forward PE | 13.91 | 22.24 | 25.28 | 36.16 | ||
| PS Ratio | 4.99 | 8.51 | 9.51 | 3.96 | 5.56 | 3.41 |
| PB Ratio | 6.30 | 9.10 | 11.62 | 7.55 | 5.64 | 1.96 |
| P/TBV Ratio | 6.32 | 9.18 | 11.75 | 7.79 | 5.81 | 2.03 |
| P/FCF Ratio | 21.94 | 156.04 | 36.71 | 253.51 | ||
| P/OCF Ratio | 18.69 | 86.14 | 34.16 | 116.06 | ||
| PEG Ratio | 1.37 | 1.20 | ||||
| EV/Sales Ratio | 5.12 | 8.55 | 9.56 | 4.26 | 6.33 | 4.24 |
| EV/EBITDA Ratio | 11.70 | 21.86 | 27.74 | 35.88 | ||
| EV/EBIT Ratio | 12.12 | 22.79 | 29.35 | 49.27 | ||
| EV/FCF Ratio | 22.53 | 156.82 | 36.93 | 273.07 | ||
| Debt / Equity Ratio | 0.50 | 0.17 | 0.23 | 1.05 | 1.02 | 0.73 |
| Debt / EBITDA Ratio | 0.90 | 0.40 | 0.55 | 4.28 | ||
| Debt / FCF Ratio | 1.75 | 2.87 | 0.74 | 35.10 | ||
| Net Debt / Equity Ratio | 0.17 | -0.02 | -0.06 | 0.67 | 0.45 | 0.37 |
| Net Debt / EBITDA Ratio | 0.30 | -0.04 | -0.14 | 2.94 | -2.11 | -0.99 |
| Net Debt / FCF Ratio | 0.58 | -0.28 | -0.19 | 22.35 | -0.93 | -0.41 |
| Asset Turnover | 0.82 | 0.92 | 1.04 | 0.76 | 0.49 | 0.34 |
| Inventory Turnover | 0.84 | 1.15 | 1.21 | 1.01 | 0.82 | 0.77 |
| Quick Ratio | 3.62 | 3.54 | 2.76 | 1.58 | 2.60 | 2.62 |
| Current Ratio | 6.97 | 6.71 | 5.97 | 5.16 | 6.89 | 6.87 |
| Return on Equity (ROE) | 41.90% | 35.56% | 81.64% | -19.67% | -44.96% | -62.46% |
| Return on Assets (ROA) | 21.78% | 21.50% | 21.24% | 4.12% | -7.88% | -14.87% |
| Return on Invested Capital (ROIC) | 36.24% | 38.62% | 50.24% | 10.03% | -19.07% | -35.65% |
| Return on Capital Employed (ROCE) | 35.60% | 34.50% | 32.10% | 8.00% | -12.70% | -23.40% |
| Earnings Yield | 6.14% | 3.38% | 4.88% | -2.77% | -7.69% | -25.95% |
| FCF Yield | 4.56% | 0.64% | 2.72% | 0.39% | -8.57% | -45.59% |
| Buyback Yield / Dilution | -1.15% | -5.07% | -4.07% | -13.19% | -41.77% | -62.03% |