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ADMA Biologics, Inc. (ADMA) 10-Year Financial Performance & Capital Metrics

ADMA • • Industrial / General
HealthcareBiotechnologyInfectious DiseasesHepatitis & Viral Infections
AboutADMA Biologics, Inc., a biopharmaceutical company, engages in developing, manufacturing, and marketing specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. It 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 for the treatment of acute exposure to blood containing Hepatitis B surface antigen and other listed exposures to Hepatitis B. The company also develops a pipeline of plasma-derived therapeutics, including products related to the methods of treatment and prevention of S. pneumonia infection for an immunoglobulin. In addition, it operates source plasma collection facilities. The company sells its products through independent distributors, sales agents, specialty pharmacies, and other alternate site providers. ADMA Biologics, Inc. was incorporated in 2004 and is headquartered in Ramsey, New Jersey.Show more
  • Revenue $426M +65.2%
  • EBITDA $147M +390.7%
  • Net Income $198M +800.0%
  • EPS (Diluted) 0.81 +723.1%
  • Gross Margin 51.48% +49.5%
  • EBITDA Margin 34.48% +197.1%
  • Operating Margin 32.59% +289.0%
  • Net Margin 46.35% +523.8%
  • ROE 81.65% +515.2%
  • ROIC 37.68% +417.0%
  • Debt/Equity 0.24 -77.5%
  • Interest Coverage 9.98 +1054.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 25.8% free cash flow margin
  • ✓Strong 5Y sales CAGR of 70.8%

✗Weaknesses

  • ✗Expensive at 12.7x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y53.39%
5Y70.79%
3Y74.01%
TTM27.62%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM207.41%

EPS CAGR

10Y-
5Y-
3Y-
TTM210.25%

ROCE

10Y Avg-40.1%
5Y Avg-7.58%
3Y Avg10.73%
Latest39.01%

Peer Comparison

Hepatitis & Viral Infections
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ADMAADMA Biologics, Inc.4.35B18.2822.5765.15%42.87%48.57%2.53%0.24
CVACCureVac N.V.1.05B4.666.478.96%37.93%33.02%7.95%0.06
DWTXDogwood Therapeutics, Inc.86.21M2.90-0.23-49.37%0.24
INOInovio Pharmaceuticals, Inc.112.67M1.64-0.42-73.83%-592.82%-115.42%0.17
ALGSAligos Therapeutics, Inc.48.45M9.05-0.43-74.6%-32.68%-120.37%
BRNSBarinthus Biotherapeutics plc30.83M0.76-0.4917.66%-408%-89.73%0.09
COCPCocrystal Pharma, Inc.15.99M1.16-0.67-126.11%0.19
KLRSKalaris Therapeutics Inc172.81M9.24-0.79-170.84%

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+7.18M10.66M22.76M16.99M29.35M42.22M80.94M154.08M258.21M426.45M
Revenue Growth %0.21%0.49%1.13%-0.25%0.73%0.44%0.92%0.9%0.68%0.65%
Cost of Goods Sold+4.31M6.36M29.16M42.19M39.5M61.29M79.77M118.81M169.27M206.9M
COGS % of Revenue0.6%0.6%1.28%2.48%1.35%1.45%0.99%0.77%0.66%0.49%
Gross Profit+2.87M4.3M-6.4M-25.21M-10.16M-19.07M1.17M35.27M88.94M219.55M
Gross Margin %0.4%0.4%-0.28%-1.48%-0.35%-0.45%0.01%0.23%0.34%0.51%
Gross Profit Growth %0.32%0.5%-2.49%-2.94%0.6%-0.88%1.06%29.06%1.52%1.47%
Operating Expenses+18.38M21.63M32.06M35.08M31.27M45.84M59.55M74.63M67.31M80.57M
OpEx % of Revenue2.56%2.03%1.41%2.07%1.07%1.09%0.74%0.48%0.26%0.19%
Selling, General & Admin6.75M8.49M18.09M22.5M25.91M35.05M42.9M52.46M59.02M74.12M
SG&A % of Revenue0.94%0.8%0.79%1.32%0.88%0.83%0.53%0.34%0.23%0.17%
Research & Development7.02M7.69M6.23M3.93M2.34M5.91M3.65M3.61M3.3M1.81M
R&D % of Revenue0.98%0.72%0.27%0.23%0.08%0.14%0.05%0.02%0.01%0%
Other Operating Expenses4.62M4.5K-10.14K-127.12K3.01M4.89M13M18.56M4.99M4.63M
Operating Income+-15.51M-17.33M-39.31M-60.29M-41.42M-64.91M-58.37M-39.37M21.63M138.98M
Operating Margin %-2.16%-1.63%-1.73%-3.55%-1.41%-1.54%-0.72%-0.26%0.08%0.33%
Operating Income Growth %0.03%-0.12%-1.27%-0.53%0.31%-0.57%0.1%0.33%1.55%5.42%
EBITDA+-15.04M-16.86M-38.08M-56.84M-38.17M-60.97M-52.88M-32.25M29.96M147.03M
EBITDA Margin %-2.1%-1.58%-1.67%-3.35%-1.3%-1.44%-0.65%-0.21%0.12%0.34%
EBITDA Growth %0.05%-0.12%-1.26%-0.49%0.33%-0.6%0.13%0.39%1.93%3.91%
D&A (Non-Cash Add-back)469.82K469.58K1.23M3.45M3.26M3.94M5.5M7.11M8.33M8.04M
EBIT-16.13M-17.28M-40.47M-60.22M-39.29M-63.76M-58.59M-46.63M-3.21M139.64M
Net Interest Income+-1.8M-2.19M-3.23M-5.33M-8.19M-11.7M-13.02M-19.23M-23.41M-11.83M
Interest Income37.83K50.32K57.23K195.4K800.78K288.13K34.53K44.83K1.62M2.1M
Interest Expense1.84M2.24M3.29M5.52M8.99M11.99M13.06M19.28M25.03M13.93M
Other Income/Expense-2.46M-2.18M-4.45M-5.45M-6.85M-10.83M-13.27M-26.54M-49.87M-13.27M
Pretax Income+-17.97M-19.52M-43.76M-65.74M-48.28M-75.75M-71.65M-65.9M-28.24M125.71M
Pretax Margin %-2.5%-1.83%-1.92%-3.87%-1.65%-1.79%-0.89%-0.43%-0.11%0.29%
Income Tax+000000000-71.96M
Effective Tax Rate %1%1%1%1%1%1%1%1%1%1.57%
Net Income+-17.97M-19.52M-43.76M-65.74M-48.28M-75.75M-71.65M-65.9M-28.24M197.67M
Net Margin %-2.5%-1.83%-1.92%-3.87%-1.65%-1.79%-0.89%-0.43%-0.11%0.46%
Net Income Growth %-0.07%-0.09%-1.24%-0.5%0.27%-0.57%0.05%0.08%0.57%8%
Net Income (Continuing)-17.97M-19.52M-43.76M-65.74M-48.28M-75.75M-71.65M-65.9M-28.24M197.67M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-1.73-1.61-1.91-1.45-1.05-1.02-0.61-0.43-0.130.81
EPS Growth %0.04%0.07%-0.19%0.24%0.28%0.03%0.4%0.3%0.7%7.23%
EPS (Basic)-1.73-1.61-1.91-1.45-1.05-1.02-0.61-0.43-0.130.85
Diluted Shares Outstanding10.41M12.15M22.9M45.19M54.35M86.15M139.58M197.87M223.98M243.34M
Basic Shares Outstanding10.41M12.15M22.9M45.19M54.35M86.15M139.58M197.87M223.98M233.08M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+21.29M21.66M63.17M44.53M85.82M153.74M208.73M270.4M257.01M331.41M
Cash & Short-Term Investments16.81M15.31M43.11M22.75M26.75M55.92M51.09M86.52M51.35M103.15M
Cash Only10.44M9.91M43.11M22.75M26.75M55.92M51.09M86.52M51.35M103.15M
Short-Term Investments6.37M5.39M00000000
Accounts Receivable924.47K1.02M3.88M1.39M3.47M13.24M28.58M15.51M27.42M50M
Days Sales Outstanding47.0134.8562.2229.9243.15114.44128.8636.7338.7642.79
Inventory3.45M5.02M12.63M18.62M53.06M81.54M124.72M163.28M172.91M170.24M
Days Inventory Outstanding291.71288.07158.05161.04490.29485.56570.69501.6372.83300.32
Other Current Assets002.05M1.77M0005.09M5.33M8.03M
Total Non-Current Assets+2.42M2.03M44.85M44.35M41.27M53.93M67.52M78.06M72.17M157.27M
Property, Plant & Equipment2.4M2M30.47M30.12M32.99M45.85M58.2M68.75M63.47M63.34M
Fixed Asset Turnover2.99x5.33x0.75x0.56x0.89x0.92x1.39x2.24x4.07x6.73x
Goodwill003.53M3.53M3.53M3.53M3.53M3.53M3.53M3.53M
Intangible Assets004.85M4M3.16M2.44M1.73M1.01M499K460K
Long-Term Investments0000000000
Other Non-Current Assets27.16K27.16K6.01M6.7M1.6M2.11M4.07M4.77M4.67M5.66M
Total Assets+23.71M23.69M108.02M88.88M127.09M207.67M276.25M348.46M329.18M488.68M
Asset Turnover0.30x0.45x0.21x0.19x0.23x0.20x0.29x0.44x0.78x0.87x
Asset Growth %-0.13%-0%3.56%-0.18%0.43%0.63%0.33%0.26%-0.06%0.48%
Total Current Liabilities+4.22M11.22M9.44M9.63M14.03M19.95M30.38M39.27M49.81M55.54M
Accounts Payable2.09M2.56M5.92M5.9M9.17M11.07M12.43M13.23M15.66M20.22M
Days Payables Outstanding176.75147.1774.151.0484.7765.9556.8740.6433.7735.67
Short-Term Debt15.14K6.11M029.98K000000
Deferred Revenue (Current)145.15K145.15K142.83K142.83K142.83K142.83K142.83K143K182K143K
Other Current Liabilities-30.28K00-59.97K0207.26K16.05M1.8M2.37M1.85M
Current Ratio5.05x1.93x6.69x4.63x6.12x7.71x6.87x6.89x5.16x5.97x
Quick Ratio4.23x1.48x5.35x2.69x2.34x3.62x2.77x2.73x1.69x2.90x
Cash Conversion Cycle161.97175.76146.17139.92448.68534.05642.68497.69377.83307.44
Total Non-Current Liabilities+18.68M16.92M58.25M59.48M86.87M99.48M104.7M157.22M144.17M84.12M
Long-Term Debt15.72M14.11M42.97M44.08M83.2M92.97M94.87M142.83M130.59M72.34M
Capital Lease Obligations36.26K00119.08K1.3M4.33M7.46M10.7M9.78M8.56M
Deferred Tax Liabilities-16.3M-7.98M0-40.53M000000
Other Non-Current Liabilities92.42K117.81K12.73M12.88M106.57K54.89K397.35K1.85M2.11M1.67M
Total Liabilities22.89M28.14M67.69M69.11M100.9M119.42M135.08M196.49M193.98M139.66M
Total Debt+15.73M20.26M42.97M44.22M84.73M97.67M102.92M154.44M141.42M82.12M
Net Debt5.29M10.34M-136.72K21.47M57.98M41.75M51.83M67.92M90.07M-21.03M
Debt / Equity19.16x-1.07x2.24x3.23x1.11x0.73x1.02x1.05x0.24x
Debt / EBITDA--------4.72x0.56x
Net Debt / EBITDA--------3.01x-0.14x
Interest Coverage-8.42x-7.74x-11.96x-10.92x-4.61x-5.42x-4.47x-2.04x0.86x9.98x
Total Equity+820.97K-4.46M40.33M19.77M26.19M88.25M141.17M151.97M135.21M349.02M
Equity Growth %-0.86%-6.43%10.05%-0.51%0.32%2.37%0.6%0.08%-0.11%1.58%
Book Value per Share0.08-0.371.760.440.481.021.010.770.601.43
Total Shareholders' Equity820.97K-4.46M40.33M19.77M26.19M88.25M141.17M151.97M135.21M349.02M
Common Stock1.07K1.29K4.53K4.63K5.93K10.49K19.58K22K23K24K
Retained Earnings-87.42M-106.93M-150.69M-216.44M-264.72M-340.47M-412.11M-478.02M-506.26M-308.58M
Treasury Stock0000000000
Accumulated OCI-1.75M-2.22M-1.29M-3.42M000000
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-15.42M-18.27M-37.27M-62.68M-76.19M-102M-112.37M-59.51M8.8M118.67M
Operating CF Margin %-2.15%-1.71%-1.64%-3.69%-2.6%-2.42%-1.39%-0.39%0.03%0.28%
Operating CF Growth %-0.05%-0.18%-1.04%-0.68%-0.22%-0.34%-0.1%0.47%1.15%12.49%
Net Income-17.97M-19.52M-43.76M-65.74M-48.28M-75.75M-71.65M-65.9M-28.24M197.67M
Depreciation & Amortization469.82K469.58K2.69M3.45M3.26M3.94M5.5M7.11M8.33M8.04M
Stock-Based Compensation1.71M1.25M1.56M02.65M2.86M3.49M5.21M6.19M13.62M
Deferred Taxes651.24K01.88M122.19K0-910.1K220.76K00-84.28M
Other Non-Cash Items390.54K534.11K638.73K961.33K-320.34K1.64M1.75M12.35M32.64M2.16M
Working Capital Changes-671.12K-1.01M-282.24K-3.69M-33.5M-33.78M-51.68M-18.29M-10.12M-18.54M
Change in Receivables-540.51K-93.56K-2.86M2.49M-2.08M-9.77M-15.34M13.07M-11.92M-22.58M
Change in Inventory-1.74M-1.57M589.32K-5.99M-34.65M-28.47M-43.19M-38.56M-9.63M2.67M
Change in Payables308.66K476.83K2.81M-20.48K3.27M1.9M1.36M799.98K3.84M4.15M
Cash from Investing+-1.74M904.58K15.21M-2.1M-3.81M-12.72M-13.51M-13.91M-4.98M-8.57M
Capital Expenditures-26.07K-73.41K-2.68M-2.1M-3.81M-12.73M-13.51M-13.91M-4.77M-8.23M
CapEx % of Revenue0%0.01%0.12%0.12%0.13%0.3%0.17%0.09%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing0012.5M002K00-210K-349K
Cash from Financing+10.4M16.84M60.75M42.92M80M143.9M121.05M108.85M-38.99M-58.3M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing9.72M-47.1K-3.43M13.01K-10.86M-816.57K-62K-7.51M-13.97M-5.8M
Net Change in Cash----------
Free Cash Flow+-15.44M-18.34M-39.95M-64.77M-80.01M-114.73M-125.88M-73.42M3.82M110.1M
FCF Margin %-2.15%-1.72%-1.76%-3.81%-2.73%-2.72%-1.56%-0.48%0.01%0.26%
FCF Growth %0.09%-0.19%-1.18%-0.62%-0.24%-0.43%-0.1%0.42%1.05%27.83%
FCF per Share-1.48-1.51-1.74-1.43-1.47-1.33-0.90-0.370.020.45
FCF Conversion (FCF/Net Income)0.86x0.94x0.85x0.95x1.58x1.35x1.57x0.90x-0.31x0.60x
Interest Paid00008.11M00018.05M10.67M
Taxes Paid0000000009.39M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-526.23%--243.95%-218.77%-210.08%-132.38%-62.46%-44.96%-19.67%81.65%
Return on Invested Capital (ROIC)-235.29%-216.68%-127.95%-111.05%-49.55%-45.47%-27.11%-14.3%7.29%37.68%
Gross Margin39.93%40.34%-28.14%-148.42%-34.6%-45.17%1.45%22.89%34.44%51.48%
Net Margin-250.36%-183.05%-192.26%-387.06%-164.5%-179.41%-88.52%-42.77%-10.94%46.35%
Debt / Equity19.16x-1.07x2.24x3.23x1.11x0.73x1.02x1.05x0.24x
Interest Coverage-8.42x-7.74x-11.96x-10.92x-4.61x-5.42x-4.47x-2.04x0.86x9.98x
FCF Conversion0.86x0.94x0.85x0.95x1.58x1.35x1.57x0.90x-0.31x0.60x
Revenue Growth21.34%48.53%113.49%-25.37%72.79%43.85%91.72%90.36%67.58%65.15%

Revenue by Segment

201320142015201620192021202220232024
ADMA BioManufacturing-------161.16M415.81M
ADMA BioManufacturing Growth--------158.01%
Plasma Collection Centers-------8.12M11.3M
Plasma Collection Centers Growth--------39.18%
Product Revenue-----80.8M153.94M--
Product Revenue Growth------90.52%--
License Revenue-----142.83K142.83K--
License Revenue Growth------0.00%--
ADMA BioManufacturing----22.18M----
ADMA BioManufacturing Growth---------
Plasma Collection Centers--7.05M10.52M7.03M----
Plasma Collection Centers Growth---49.19%-33.17%----
Corporate-75.56K127.35K142.83K142.83K----
Corporate Growth--68.55%12.16%0.00%----
Research And Development---------
Research And Development Growth---------
Plasma Collection Center-5.84M-------
Plasma Collection Center Growth---------
Plasma Collection Center Member3.02M--------
Plasma Collection Center Member Growth---------
Corporate Member44.07K--------
Corporate Member Growth---------
Research And Development Member---------
Research And Development Member Growth---------

Revenue by Geography

201320142015201620192021202220232024
United States------146.43M-410.15M
United States Growth---------
International--------16.31M
International Growth---------

Frequently Asked Questions

Valuation & Price

ADMA Biologics, Inc. (ADMA) has a price-to-earnings (P/E) ratio of 22.6x. This is roughly in line with market averages.

Growth & Financials

ADMA Biologics, Inc. (ADMA) reported $488.6M in revenue for fiscal year 2024.

ADMA Biologics, Inc. (ADMA) grew revenue by 65.2% over the past year. This is strong growth.

Yes, ADMA Biologics, Inc. (ADMA) is profitable, generating $209.4M in net income for fiscal year 2024 (46.4% net margin).

Dividend & Returns

ADMA Biologics, Inc. (ADMA) has a return on equity (ROE) of 81.6%. This is excellent, indicating efficient use of shareholder capital.

ADMA Biologics, Inc. (ADMA) generated $40.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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