ADMA · Adma Biologics, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $114.49M | - | $134.22M | $121.98M | $114.80M | - | $119.84M | $107.19M | $81.88M | - |
| Cost of Revenue | $33.74M | - | $58.60M | $54.76M | $53.70M | - | $60.18M | $49.74M | $42.77M | - |
| Gross Profit | $80.75M | - | $75.63M | $67.23M | $61.10M | - | $59.66M | $57.45M | $39.11M | - |
| R&D | $2.60M | - | $1.53M | $1.03M | $826.0K | - | $412.0K | $560.0K | $450.0K | - |
| SG&A | $26.74M | - | $21.78M | $22.21M | $24.08M | - | $18.56M | $16.61M | $15.64M | - |
| Total Operating Expenses | $22.48M | - | $24.61M | $24.43M | $26.22M | - | $20.02M | $18.25M | $17.29M | - |
| D&A | $1.80M | - | $2.00M | $2.00M | $1.90M | - | $1.90M | $1.90M | $1.90M | - |
| Operating Income | $58.27M | - | $51.01M | $42.80M | $34.88M | - | $39.64M | $39.20M | $21.82M | - |
| Interest Expense | $2.10M | - | $1.68M | $1.83M | $3.77M | - | $6.40M | $6.30M | $3.77M | - |
| Income Tax | $11.80M | - | $11.09M | $5.88M | $6.55M | - | $840.0K | $3.79M | $595.0K | - |
| Net Income | $45.33M | - | $36.43M | $34.22M | $26.90M | - | $35.91M | $32.06M | $17.81M | - |
| EPS - Basic | $0.19 | - | $0.15 | $0.14 | $0.11 | - | $0.15 | $0.14 | $0.08 | - |
| EPS - Diluted | $0.19 | - | $0.15 | $0.14 | $0.11 | - | $0.15 | $0.13 | $0.08 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $138.15M | $87.63M | $61.38M | $90.28M | $71.63M | $103.15M | $86.71M | $88.24M | $45.33M | $51.35M |
| Accounts Receivable | $135.86M | $158.43M | $137.67M | $109.73M | $99.41M | $50.00M | $50.14M | $30.11M | $49.62M | $27.42M |
| Inventory | $222.10M | $206.47M | $196.67M | $191.46M | $172.19M | $170.24M | $171.80M | $179.81M | $177.73M | $172.91M |
| Accounts Payable | $20.52M | $22.52M | $24.02M | $29.77M | $20.61M | $20.22M | $16.02M | $14.18M | $17.19M | $15.66M |
| Current Assets | $511.17M | $466.51M | $402.65M | $399.56M | $351.81M | $331.41M | $318.19M | $303.69M | $276.42M | $257.01M |
| Total Assets | $665.18M | $624.24M | $568.69M | $558.38M | $510.57M | $488.68M | $390.62M | $376.40M | $350.88M | $329.18M |
| Current Liabilities | $73.54M | $69.54M | $56.49M | $74.94M | $53.50M | $55.54M | $44.89M | $44.18M | $53.09M | $49.81M |
| Long-term Debt | $193.58M | $69.33M | $72.34M | - | - | - | - | - | - | - |
| Total Liabilities | $274.86M | $146.92M | $137.50M | $160.06M | $137.15M | $139.66M | $158.73M | $188.13M | $197.17M | $193.98M |
| Stockholders' Equity | $390.32M | $477.32M | $431.19M | $398.32M | $373.42M | $349.02M | $231.89M | $188.27M | $153.71M | $135.21M |
| Retained Earnings | ($116.33M) | ($161.65M) | ($211.03M) | ($247.46M) | ($281.68M) | ($308.58M) | ($420.48M) | ($456.39M) | ($488.45M) | ($506.26M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.25M | - | - | - | ($19.68M) | - | - | - | ($2.22M) | - |
| Investing Cash Flow | $2.40M | - | - | - | ($4.72M) | - | - | - | ($2.36M) | - |
| Financing Cash Flow | ($10.13M) | - | - | - | ($7.13M) | - | - | - | ($1.45M) | - |
| CapEx | $2.54M | - | - | - | $4.70M | - | - | - | $2.35M | - |
| Free Cash Flow | $55.71M | - | - | - | ($24.38M) | - | - | - | ($4.57M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 70.5% | - | 56.3% | 55.1% | 53.2% | - | 49.8% | 53.6% | 47.8% | - |
| Operating margin | 50.9% | - | 38.0% | 35.1% | 30.4% | - | 33.1% | 36.6% | 26.7% | - |
| EBITDA margin | 52.5% | - | 39.5% | 36.7% | 32.0% | - | 34.7% | 38.3% | 29.0% | - |
| Net margin | 39.6% | - | 27.1% | 28.1% | 23.4% | - | 30.0% | 29.9% | 21.7% | - |
| Free cash flow margin | 48.7% | - | - | - | -21.2% | - | - | - | -5.6% | - |
| FCF / Net income | 1.23 | - | - | - | -0.91 | - | - | - | -0.26 | - |
| R&D / Revenue | 2.3% | - | 1.1% | 0.8% | 0.7% | - | 0.3% | 0.5% | 0.5% | - |
| SG&A / Revenue | 23.4% | - | 16.2% | 18.2% | 21.0% | - | 15.5% | 15.5% | 19.1% | - |
| Effective tax rate | 20.7% | - | 23.3% | 14.7% | 19.6% | - | 2.3% | 10.6% | 3.2% | - |
| Return on assets | 6.8% | - | 6.4% | 6.1% | 5.3% | - | 9.2% | 8.5% | 5.1% | - |
| Return on equity | 11.6% | - | 8.4% | 8.6% | 7.2% | - | 15.5% | 17.0% | 11.6% | - |
| Return on invested capital | 7.9% | - | 7.8% | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 6.95 | 6.71 | 7.13 | 5.33 | 6.58 | 5.97 | 7.09 | 6.87 | 5.21 | 5.16 |
| Quick ratio | 3.93 | 3.74 | 3.65 | 2.78 | 3.36 | 2.90 | 3.26 | 2.80 | 1.86 | 1.69 |
| Cash ratio | 1.88 | 1.26 | 1.09 | 1.20 | 1.34 | 1.86 | 1.93 | 2.00 | 0.85 | 1.03 |
| Leverage | ||||||||||
| Debt / Equity | 0.50 | 0.15 | 0.17 | - | - | - | - | - | - | - |
| Debt / Assets | 0.29 | 0.11 | 0.13 | - | - | - | - | - | - | - |
| Debt / EBITDA | 3.22 | - | 1.36 | - | - | - | - | - | - | - |
| Interest coverage | 27.7x | - | 30.5x | 23.3x | 9.3x | - | 6.2x | 6.2x | 5.8x | - |
| Equity multiplier | 1.70 | 1.31 | 1.32 | 1.40 | 1.37 | 1.40 | 1.68 | 2.00 | 2.28 | 2.43 |
| Liabilities / Assets | 0.41 | 0.24 | 0.24 | 0.29 | 0.27 | 0.29 | 0.41 | 0.50 | 0.56 | 0.59 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | - | 0.24 | 0.22 | 0.22 | - | 0.31 | 0.28 | 0.23 | - |
| Inventory turnover | 0.15 | - | 0.30 | 0.29 | 0.31 | - | 0.35 | 0.28 | 0.24 | - |
| Days sales outstanding | 433d | - | 374d | 328d | 316d | - | 153d | 103d | 221d | - |
| Days inventory outstanding | 2402d | - | 1225d | 1276d | 1170d | - | 1042d | 1320d | 1517d | - |
| Days payable outstanding | 222d | - | 150d | 198d | 140d | - | 97d | 104d | 147d | - |
| Cash conversion cycle | 2614d | - | 1450d | 1406d | 1346d | - | 1098d | 1318d | 1591d | - |
| Valuation | ||||||||||
| P / E | 47.4x | - | 97.7x | 130.1x | 180.4x | - | 133.3x | 86.0x | 82.5x | - |
| P / B | 5.5x | - | 8.3x | 11.4x | 13.0x | - | 21.1x | 14.4x | 10.2x | - |
| P / S | 18.9x | - | 26.7x | 37.1x | 42.3x | - | 40.8x | 25.3x | 19.1x | - |
| EV / EBITDA | 36.9x | - | 67.9x | 99.0x | 130.0x | - | 115.7x | 63.7x | 63.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -0.3% | - | 12.0% | 13.8% | 40.2% | - | 78.1% | 78.3% | 43.9% | - |
| Revenue CAGR (3y) | 26.2% | - | 48.4% | 53.2% | 58.0% | - | 79.6% | 81.8% | 72.1% | - |
| Revenue CAGR (5y) | 48.1% | - | 67.2% | 73.4% | 62.3% | - | 75.4% | 74.8% | 87.5% | - |
| Gross profit growth (YoY) | 32.2% | - | 26.8% | 17.0% | 56.2% | - | 142.0% | 244.2% | 136.8% | - |
| Operating income growth (YoY) | 67.1% | - | 28.7% | 9.2% | 59.9% | - | 356.4% | - | - | - |
| Net income growth (YoY) | 68.5% | - | 1.4% | 6.7% | 51.1% | - | 1299.9% | - | - | - |
| EPS growth (YoY) | 72.7% | - | 0.0% | 7.7% | 37.5% | - | 1400.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | -434.0% | - | - | - | 72.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 4.5% | 36.8% | 85.9% | 111.6% | 142.9% | 158.1% | 53.1% | 28.3% | 5.5% | -11.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$510.03M totalADMABio Manufacturing Segment$493.00M · 96.7%
Plasma Collection Centers Segment$17.03M · 3.3%
Product / service
$493.14M totalASCENIV$362.53M · 73.5%
BIVIGAM$122.03M · 24.7%
Intermediates And Other$8.58M · 1.7%
Geographic
$493.00M totalUS$489.02M · 99.2%
Non Us$3.98M · 0.8%
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing ADMA BIOLOGICS against the 5 most active filers in the same SIC group.