ADMA Biologics, Inc. (ADMA)

ADMA Biologics, Inc., a biopharmaceutical company, develops, manufactures, and markets specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. The company operates through ADMA BioManufacturing and Plasma Collection Centers segments. The company offers BIVIGAM, an intravenous immune globulin (IVIG) product indicated for the treatment of primary humoral immunodeficiency (PI); ASCENIV, an IVIG product for the treatment of PI; and Nabi-HB, a human polyclonal antibody product for the treatment of acute exposure to blood containing Hepatitis B surface antigen and other listed exposures to Hepatitis B. It also develops a pipeline of plasma-derived therapeutics comprising products related to the methods of treatment and prevention of S. pneumonia infection for an immunoglobulin. In addition, the company operates source plasma collection facilities. The company sells its products through independent distributors, drug wholesalers, specialty pharmacies, and other alternate site providers. ADMA Biologics, Inc. was incorporated in 2004 and is headquartered in Ramsey, New Jersey.

Ticker: ADMA
Exchange: Nasdaq
Sector: Healthcare
Industry: Biotechnology
Market cap: $2.84B
52-week range: $7.21 - $20.46

Valuation

Share price: $12.73 (close of Nov 6, 2026)
P/E (TTM): 15.91x
Price to book: 6.47x
Price to free cash flow: 21.34x
Enterprise value: $2.91B
Book value per share: $1.97

Price performance

Period	Change
1 day	-3.63%
5 days	+11.57%
1 month	+25.05%
3 months	+26.54%
6 months	+26.29%
Year to date	-30.21%
1 year	-9.27%
3 years	+250.69%
5 years	+836.03%
10 years	+154.09%
All time	+48.89%

Short interest

As of: Oct 15, 2026
Short % of float: 10.82%
Shares short: 19.53M
Days to cover: 6.55
Change since prior report: -5.19%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 30.78%
Return on invested capital: 27.95%
Return on assets: 23.54%
Return on capital employed: 34.51%
Gross margin: 57.39%
Net margin: 28.80%
EBITDA margin: 39.11%
Revenue growth: 19.63%
Net income growth: -25.67%
Free cash flow growth: -74.81%

Cash flow and balance sheet

Free cash flow yield (TTM): 4.69%
Current ratio: 6.04x
Net debt to EBITDA: 0.31x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $510.17M
Cost of revenue: $217.41M
Gross profit: $292.76M
EBITDA: $199.54M
Net income: $146.93M
Earnings per share: $0.62
Research and development: $4.76M
Interest expense: $7.11M
Shares outstanding: 238.30M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$510.17M	$292.76M	$146.93M	$0.62
2024-12-31	$426.45M	$219.55M	$197.67M	$0.85
2023-12-31	$258.21M	$88.94M	-$28.24M	-$0.13
2022-12-31	$154.08M	$35.27M	-$65.90M	-$0.33
2021-12-31	$80.94M	$1.17M	-$71.65M	-$0.51
2020-12-31	$42.22M	-$19.07M	-$75.75M	-$0.88
2019-12-31	$29.35M	-$10.16M	-$48.28M	-$0.89
2018-12-31	$16.99M	-$25.21M	-$65.74M	-$1.45
2017-12-31	$22.76M	-$6.40M	-$43.76M	-$1.91
2016-12-31	$10.66M	-	-$19.52M	-$1.61

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	57.39%	28.80%	30.78%	27.95%
2024-12-31	51.48%	46.35%	56.64%	32.24%
2023-12-31	34.44%	-10.94%	-20.89%	7.82%
2022-12-31	22.89%	-42.77%	-43.37%	-12.85%
2021-12-31	1.45%	-88.52%	-50.75%	-23.91%
2020-12-31	-45.17%	-179.41%	-85.84%	-34.92%
2019-12-31	-34.60%	-164.50%	-184.32%	-156.78%
2018-12-31	-148.42%	-387.06%	-	-267.59%
2017-12-31	-28.14%	-192.26%	-108.49%	-91.22%
2016-12-31	-	-183.05%	-	-

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$87.63M	$69.33M
2024-12-31	$103.15M	$72.34M
2023-12-31	$51.35M	$130.59M
2022-12-31	$86.52M	$142.83M
2021-12-31	$51.09M	$94.87M
2020-12-31	$55.92M	$92.97M
2019-12-31	$26.75M	-
2018-12-31	$26.75M	$2.76M
2017-12-31	$43.11M	$2.76M
2016-12-31	$15.31M	$1.79M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$27.82M	$20.03M
2024-12-31	$110.45M	$13.62M
2023-12-31	$4.03M	$6.19M
2022-12-31	-$73.42M	$5.21M
2021-12-31	-$125.88M	$3.49M
2020-12-31	-$114.73M	$2.86M
2019-12-31	-$80.01M	$2.65M
2018-12-31	-$64.77M	$2.22M
2017-12-31	-$39.95M	$1.56M
2016-12-31	-$18.34M	$1.25M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-04	Sep 2026	$0.19
2026-08-05	Jun 2026	$0.16
2026-05-06	Mar 2026	-
2026-02-25	Dec 2025	-
2025-11-05	Sep 2025	$0.16
2025-08-06	Jun 2025	$0.14
2025-05-07	Mar 2025	$0.16
2025-03-03	Dec 2024	$0.15

Filings and sources

Company website: admabiologics.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

Similar companies

Vertex Pharmaceuticals Inc (VRTX) · Regeneron Pharmaceuticals, Inc. (REGN) · Moderna, Inc. (MRNA) · Incyte Corp (INCY) · Insmed Inc (INSM) · Bio-Techne Corp (TECH) · Thermo Fisher Scientific Inc. (TMO) · Danaher Corp (DHR)

All Healthcare companies

Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades