Emergent BioSolutions Inc. (EBS) 10-Year Financial Performance & Capital Metrics

EBS • • Industrial / General

HealthcareSpecialty & Generic PharmaSpecialty PharmaceuticalsPublic Health Threats

AboutEmergent BioSolutions Inc., a life sciences company, focuses on the provision of preparedness and response solutions that address accidental, deliberate, and naturally occurring public health threats (PHTs) in the United States. The company's products address PHTs, which include chemical, biological, radiological, nuclear, and explosives; emerging infectious diseases; travel health; and emerging health crises and acute/emergency care. It offers BioThrax, an anthrax vaccine; ACAM2000, a smallpox vaccine; Botulism Antitoxin Heptavalent to treat botulinum disease; vaccinia immune globulin intravenous that addresses complications from smallpox vaccine; raxibacumab for the treatment and prophylaxis of inhalational anthrax; Anthrasil to for inhalational anthrax; reactive skin decontamination lotion kits; and Trobigard, a combination drug-device auto injector product candidate; and Trobigard, a combination drug-device auto injector product candidate. The company also provides NARCAN, a nasal spray for the emergency treatment of known or suspected opioid overdose; Vivotif, an oral vaccine for typhoid fever; and Vaxchora, a single-dose oral vaccine to treat cholera. In addition, it is developing AP003, a Naloxone multidose nasal spray; AP007, a sustained release Nalmefene injection for treatment of opioid use disorder; AV7909, an anthrax vaccine; CGRD-001, a pralidoxime chloride/atropine auto-injector; CHIKV VLP, a chikungunya virus VLP vaccine; COVID-HIG for the treatment of SARS-CoV2; EGRD-001, a diazepam auto-injector; SIAN, an antidote for the initial treatment of acute poisoning of cyanide; and UniFlu, a universal influenza vaccine. Further, the company provides contract development and manufacturing services comprising drug substance and product manufacturing, and packaging, as well as technology transfer, process, and analytical development services. The company was incorporated in 1998 and is headquartered in Gaithersburg, Maryland.Show more

Revenue $1.04B -0.5%
EBITDA -$3M +99.5%
Net Income -$191M +74.9%
EPS (Diluted) -3.60 +75.8%
Gross Margin 35.97% +4.8%
EBITDA Margin -0.3% +99.5%
Operating Margin -10.42% +85.0%
Net Margin -18.26% +74.8%
ROE -33.67% +54.9%
ROIC -6.64% +78.3%
Debt/Equity 1.40 +5.7%
Interest Coverage -1.53 +81.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 91 (top 9%)
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.94%

5Y-1.15%

3Y-16.2%

TTM-29.91%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM136.35%

EPS CAGR

10Y-

5Y-

3Y-

TTM131.46%

ROCE

10Y Avg2.16%

5Y Avg-6.17%

3Y Avg-21.1%

Latest-9.06%

Peer Comparison

Public Health Threats

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EBSEmergent BioSolutions Inc.	575.09M	10.95	-3.04	-0.54%	9.62%	13.03%	6.23%	1.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	489.33M	488.8M	560.9M	782.4M	1.11B	1.58B	1.77B	1.12B	1.05B	1.04B
Revenue Growth %	0.21%	-0%	0.15%	0.39%	0.41%	0.43%	0.12%	-0.37%	-0.06%	-0.01%
Cost of Goods Sold+	216.84M	244M	277.3M	462M	622.9M	714.2M	980.4M	644.5M	689.3M	668.2M
COGS % of Revenue	0.44%	0.5%	0.49%	0.59%	0.56%	0.45%	0.55%	0.58%	0.66%	0.64%
Gross Profit+	272.49M	244.8M	283.6M	320.4M	483.1M	863.1M	793.2M	473M	360M	375.4M
Gross Margin %	0.56%	0.5%	0.51%	0.41%	0.44%	0.55%	0.45%	0.42%	0.34%	0.36%
Gross Profit Growth %	0.38%	-0.1%	0.16%	0.13%	0.51%	0.79%	-0.08%	-0.4%	-0.24%	0.04%
Operating Expenses+	130.97M	139.3M	159.3M	230.6M	369M	424.6M	451.8M	643M	1.09B	484.1M
OpEx % of Revenue	0.27%	0.28%	0.28%	0.29%	0.33%	0.27%	0.25%	0.58%	1.04%	0.46%
Selling, General & Admin	121.14M	143.1M	142.9M	202.5M	273.5M	304.1M	348.7M	339.5M	356.7M	298.7M
SG&A % of Revenue	0.25%	0.29%	0.25%	0.26%	0.25%	0.19%	0.2%	0.3%	0.34%	0.29%
Research & Development	119.19M	106.9M	97.4M	142.8M	226.2M	237.9M	235.2M	188.3M	111.4M	70.7M
R&D % of Revenue	0.24%	0.22%	0.17%	0.18%	0.2%	0.15%	0.13%	0.17%	0.11%	0.07%
Other Operating Expenses	-109.36M	-110.7M	-81M	-114.7M	-130.7M	-117.4M	-132.1M	115.2M	618.3M	114.7M
Operating Income+	141.51M	105.5M	124.3M	89.8M	114.1M	438.5M	341.4M	-170M	-726.4M	-108.7M
Operating Margin %	0.29%	0.22%	0.22%	0.11%	0.1%	0.28%	0.19%	-0.15%	-0.69%	-0.1%
Operating Income Growth %	0.59%	-0.25%	0.18%	-0.28%	0.27%	2.84%	-0.22%	-1.5%	-3.27%	0.85%
EBITDA+	176.85M	143.7M	166.9M	152M	222.1M	548.5M	459.6M	-45M	-605.3M	-3.1M
EBITDA Margin %	0.36%	0.29%	0.3%	0.19%	0.2%	0.35%	0.26%	-0.04%	-0.58%	-0%
EBITDA Growth %	0.45%	-0.19%	0.16%	-0.09%	0.46%	1.47%	-0.16%	-1.1%	-12.45%	0.99%
D&A (Non-Cash Add-back)	35.34M	38.2M	42.6M	62.2M	108M	110M	118.2M	125M	121.1M	105.6M
EBIT	151.34M	94.7M	132.1M	92.9M	150.9M	499.2M	386M	-109.3M	-168.1M	-52.2M
Net Interest Income+	-5.95M	-6.56M	-6.6M	-9.9M	-38.4M	-31.3M	-34.5M	-37.3M	-87.9M	-71M
Interest Income	572K	1.05M	1.75M	0	0	0	0	0	0	0
Interest Expense	6.52M	7.62M	6.59M	9.9M	38.4M	31.3M	34.5M	37.3M	87.9M	71M
Other Income/Expense	-5.8M	-6.3M	-5.7M	-8.3M	-36.7M	-26.6M	-38.2M	-49M	-4.8M	-34.2M
Pretax Income+	135.72M	99.2M	118.6M	81.5M	77.4M	411.9M	303.2M	-219M	-731.2M	-142.9M
Pretax Margin %	0.28%	0.2%	0.21%	0.1%	0.07%	0.26%	0.17%	-0.2%	-0.7%	-0.14%
Income Tax+	44.3M	36.7M	36M	18.8M	22.9M	106.1M	83.7M	-7.4M	29.3M	47.7M
Effective Tax Rate %	0.46%	0.52%	0.7%	0.77%	0.7%	0.74%	0.72%	0.97%	1.04%	1.33%
Net Income+	62.87M	51.8M	82.6M	62.7M	54.5M	305.8M	219.5M	-211.6M	-760.5M	-190.6M
Net Margin %	0.13%	0.11%	0.15%	0.08%	0.05%	0.19%	0.12%	-0.19%	-0.72%	-0.18%
Net Income Growth %	0.71%	-0.18%	0.59%	-0.24%	-0.13%	4.61%	-0.28%	-1.96%	-2.59%	0.75%
Net Income (Continuing)	91.42M	62.5M	82.6M	62.7M	54.5M	305.8M	219.5M	-211.6M	-760.5M	-190.6M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.41	1.13	1.71	1.22	1.04	5.67	4.06	-4.47	-14.85	-3.60
EPS Growth %	0.6%	-0.2%	0.51%	-0.29%	-0.15%	4.45%	-0.28%	-2.1%	-2.32%	0.76%
EPS (Basic)	1.63	1.29	1.98	1.25	1.06	5.79	4.10	-4.47	-14.85	-3.60
Diluted Shares Outstanding	47.26M	49.34M	50.33M	51.4M	52.4M	53.8M	54.1M	50.1M	51.2M	53M
Basic Shares Outstanding	38.6M	40.18M	41.82M	50.1M	51.5M	52.7M	53.5M	50.1M	51.2M	53M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	538.61M	510.22M	485.39M	620.8M	686.2M	1.2B	1.27B	1.21B	679.5M	598.7M
Cash & Short-Term Investments	312.8M	271.51M	178.29M	112.2M	168M	621.3M	576.3M	642.6M	111.7M	99.5M
Cash Only	312.8M	271.51M	178.29M	112.2M	168M	621.3M	576.3M	642.6M	111.7M	99.5M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	120.48M	148.47M	146.1M	262.5M	275.3M	230.9M	278.9M	159.2M	191M	154.5M
Days Sales Outstanding	89.87	110.87	95.07	122.46	90.85	53.43	57.4	52	66.44	54.04
Inventory	76.94M	74M	142.81M	205.8M	222.5M	307M	344.5M	350.7M	328.9M	311.7M
Days Inventory Outstanding	129.5	110.7	187.98	162.59	130.38	156.9	128.26	198.61	174.16	170.26
Other Current Assets	29.28M	0	1M	200K	20.4M	2.2M	70.2M	57.9M	47.9M	33M
Total Non-Current Assets+	504.98M	459.89M	584.82M	1.61B	1.64B	1.69B	1.69B	1.96B	1.14B	791M
Property, Plant & Equipment	331.86M	376.45M	407.21M	510.2M	567M	675.1M	828.4M	837M	399M	270.6M
Fixed Asset Turnover	1.47x	1.30x	1.38x	1.53x	1.95x	2.34x	2.14x	1.34x	2.63x	3.86x
Goodwill	54.9M	41M	49.13M	259.7M	266.6M	266.7M	224.9M	218.2M	0	0
Intangible Assets	99.88M	33.87M	119.6M	811.6M	741.9M	663.1M	604.6M	728.8M	566.6M	501.5M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	7.06M	2.48M	6.05M	13.7M	52.2M	82.4M	29.9M	171.9M	178.1M	18.9M
Total Assets+	1.04B	970.11M	1.07B	2.23B	2.33B	2.88B	2.96B	3.17B	1.82B	1.39B
Asset Turnover	0.47x	0.50x	0.52x	0.35x	0.48x	0.55x	0.60x	0.35x	0.58x	0.75x
Asset Growth %	0.1%	-0.07%	0.1%	1.08%	0.04%	0.24%	0.03%	0.07%	-0.42%	-0.24%
Total Current Liabilities+	99.61M	105.86M	100.07M	200.4M	216.3M	384.5M	374M	1.23B	651.3M	162.4M
Accounts Payable	37.97M	34.65M	41.8M	80.7M	94.8M	136.1M	128.9M	103.5M	112.2M	60.9M
Days Payables Outstanding	63.91	51.83	55.02	63.76	55.55	69.56	47.99	58.62	59.41	33.27
Short-Term Debt	0	20M	0	10.1M	16.4M	39.5M	37.4M	963.1M	413.7M	2.7M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	1000K	1000K	0	0
Other Current Liabilities	25.66M	9.63M	7.2M	36.3M	42.7M	72M	107.3M	48.6M	106.8M	81.1M
Current Ratio	5.41x	4.82x	4.85x	3.10x	3.17x	3.11x	3.40x	0.98x	1.04x	3.69x
Quick Ratio	4.63x	4.12x	3.42x	2.07x	2.14x	2.31x	2.47x	0.70x	0.54x	1.77x
Cash Conversion Cycle	155.46	169.74	228.03	221.29	165.68	140.77	137.66	192	181.19	191.03
Total Non-Current Liabilities+	283.96M	268.05M	57.79M	1.02B	1.02B	1.05B	972.2M	549.7M	522.6M	744.5M
Long-Term Debt	246.89M	248.09M	13.5M	784.5M	798.4M	850.3M	809.4M	448.5M	446.5M	663.7M
Capital Lease Obligations	0	0	0	0	22.1M	27.8M	24.2M	14.8M	0	9.7M
Deferred Tax Liabilities	0	0	12.5M	67.5M	63.9M	0	93.3M	59.7M	0	41.7M
Other Non-Current Liabilities	30.96M	11.52M	44.3M	103.6M	52.5M	173.6M	40.6M	26.7M	76.1M	29.4M
Total Liabilities	383.57M	373.91M	157.86M	1.22B	1.24B	1.44B	1.35B	1.78B	1.17B	906.9M
Total Debt+	253M	268.09M	13.46M	794.6M	836.9M	923M	871M	1.43B	860.2M	676.1M
Net Debt	-59.8M	-3.42M	-164.84M	682.4M	668.9M	301.7M	294.7M	783.8M	748.5M	576.6M
Debt / Equity	0.38x	0.45x	0.01x	0.79x	0.77x	0.64x	0.54x	1.03x	1.32x	1.40x
Debt / EBITDA	1.43x	1.87x	0.08x	5.23x	3.77x	1.68x	1.90x	-	-	-
Net Debt / EBITDA	-0.34x	-0.02x	-0.99x	4.49x	3.01x	0.55x	0.64x	-	-	-
Interest Coverage	21.69x	13.85x	18.86x	9.07x	2.97x	14.01x	9.90x	-4.56x	-8.26x	-1.53x
Total Equity+	660.02M	596.21M	912.35M	1.01B	1.09B	1.45B	1.61B	1.39B	649.3M	482.8M
Equity Growth %	0.19%	-0.1%	0.53%	0.11%	0.08%	0.33%	0.11%	-0.14%	-0.53%	-0.26%
Book Value per Share	13.97	12.08	18.13	19.67	20.77	26.90	29.79	27.70	12.68	9.11
Total Shareholders' Equity	660.02M	596.21M	912.35M	1.01B	1.09B	1.45B	1.61B	1.39B	649.3M	482.8M
Common Stock	40K	41K	50K	100K	100K	100K	100K	100K	100K	100K
Retained Earnings	351.14M	254.48M	337.07M	367.3M	421.8M	726.9M	950.3M	738.7M	-21.8M	-212.4M
Treasury Stock	-6.42M	-6.42M	-39.5M	-39.6M	-39.6M	-39.6M	-152.2M	-227.7M	-227.7M	-227.7M
Accumulated OCI	-2.71M	-4.33M	-3.7M	-5.5M	-9.9M	-25.3M	-16.1M	3.1M	-5.7M	-5.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	44.46M	53.49M	208.14M	41.8M	188M	536.9M	321.1M	-34.1M	-206.3M	58.7M
Operating CF Margin %	0.09%	0.11%	0.37%	0.05%	0.17%	0.34%	0.18%	-0.03%	-0.2%	0.06%
Operating CF Growth %	-0.6%	0.2%	2.89%	-0.8%	3.5%	1.86%	-0.4%	-1.11%	-5.05%	1.28%
Net Income	62.87M	51.78M	82.59M	62.7M	54.5M	305.8M	230.9M	-211.6M	-760.5M	-190.6M
Depreciation & Amortization	35.34M	38.23M	42.57M	62.2M	110.7M	114.5M	123.8M	143.3M	125.1M	108.8M
Stock-Based Compensation	15.85M	18.48M	15.21M	23.2M	26.7M	51.8M	42.4M	45.1M	23.1M	18M
Deferred Taxes	3.46M	5.19M	3.26M	8.6M	-1.1M	-3.3M	46.9M	-28.6M	-8.9M	-5.5M
Other Non-Cash Items	-7.15M	-14.73M	10.78M	4.2M	39.6M	58.6M	33.5M	19.8M	485.2M	39.3M
Working Capital Changes	-65.9M	-45.45M	53.72M	-119.1M	-42.4M	9.5M	-156.4M	-2.1M	-70.3M	88.7M
Change in Receivables	-64.35M	-22.45M	-4.81M	-94.2M	-8.2M	27.5M	-48.2M	118.1M	-21.6M	-24.4M
Change in Inventory	-11.26M	-9.03M	6.07M	-1.9M	-16.7M	-66.9M	-44M	-57.1M	600K	-24.5M
Change in Payables	4.75M	-14.79M	16.13M	-7M	16.5M	28.3M	-2.5M	-14M	10.6M	-33M
Cash from Investing+	-45.46M	-76.26M	-249.93M	-897.2M	-96.9M	-151.9M	-225M	-381.3M	212.3M	125.2M
Capital Expenditures	-44.81M	-76.26M	-54.83M	-72.1M	-86.9M	-141.9M	-225M	-115.8M	-51.6M	-22.9M
CapEx % of Revenue	0.09%	0.16%	0.1%	0.09%	0.08%	0.09%	0.13%	0.1%	0.05%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-195.1M	2.6M	-10M	-10M	0	-265.5M	-6.3M	148.1M
Cash from Financing+	33.45M	-18.64M	-51.4M	788.7M	-35.9M	69.5M	-141M	481.2M	-535.7M	-190M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	31.55M	-18.64M	-17.6M	-6.4M	-49.6M	6.6M	900K	-900K	-700K	-900K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-353K	-22.77M	153.31M	-30.3M	101.1M	395M	96.1M	-149.9M	-257.9M	35.8M
FCF Margin %	-0%	-0.05%	0.27%	-0.04%	0.09%	0.25%	0.05%	-0.13%	-0.25%	0.03%
FCF Growth %	-1%	-63.5%	7.73%	-1.2%	4.34%	2.91%	-0.76%	-2.56%	-0.72%	1.14%
FCF per Share	-0.01	-0.46	3.05	-0.59	1.93	7.34	1.78	-2.99	-5.04	0.68
FCF Conversion (FCF/Net Income)	0.71x	1.03x	2.52x	0.67x	3.45x	1.76x	1.46x	0.16x	0.27x	-0.31x
Interest Paid	7.75M	8.2M	8.4M	10.2M	34.5M	21M	30.4M	33M	68.3M	64M
Taxes Paid	28.27M	10.1M	12M	14M	30.8M	109.3M	71.6M	6.2M	52.8M	26.5M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.36%	8.25%	10.95%	6.52%	5.19%	24.12%	14.35%	-14.11%	-74.67%	-33.67%
Return on Invested Capital (ROIC)	18.89%	13.26%	13.91%	5.52%	4.96%	18.76%	14.01%	-6.25%	-30.53%	-6.64%
Gross Margin	55.69%	50.08%	50.56%	40.95%	43.68%	54.72%	44.72%	42.33%	34.31%	35.97%
Net Margin	12.85%	10.6%	14.73%	8.01%	4.93%	19.39%	12.38%	-18.94%	-72.48%	-18.26%
Debt / Equity	0.38x	0.45x	0.01x	0.79x	0.77x	0.64x	0.54x	1.03x	1.32x	1.40x
Interest Coverage	21.69x	13.85x	18.86x	9.07x	2.97x	14.01x	9.90x	-4.56x	-8.26x	-1.53x
FCF Conversion	0.71x	1.03x	2.52x	0.67x	3.45x	1.76x	1.46x	0.16x	0.27x	-0.31x
Revenue Growth	20.98%	-0.11%	14.75%	39.49%	41.36%	42.61%	12.45%	-36.99%	-6.1%	-0.54%

Revenue by Segment

	2015	2018	2019	2020	2021	2022	2023	2024
Product	-	-	903.5M	989.8M	1.02B	966.2M	944.5M	908.7M
Product Growth	-	-	-	9.55%	3.45%	-5.64%	-2.25%	-3.79%
Contract Development And Manufacturing	-	-	80M	450.5M	634.6M	113.3M	78.5M	104.9M
Contract Development And Manufacturing Growth	-	-	-	463.12%	40.87%	-82.15%	-30.71%	33.63%
Contracts and Grants	-	-	122.5M	115.1M	134.2M	41.4M	26.3M	30M
Contracts and Grants Growth	-	-	-	-6.04%	16.59%	-69.15%	-36.47%	14.07%

Revenue by Geography

	2015	2018	2019	2020	2021	2022	2023	2024
Services	-	-	-	-	-	-	78.5M	104.9M
Services Growth	-	-	-	-	-	-	-	33.63%
UNITED STATES	-	526.1M	674.7M	988.5M	897.8M	889.5M	-	-
UNITED STATES Growth	-	-	28.25%	46.51%	-9.18%	-0.92%	-	-
CANADA	-	-	-	-	-	148.6M	-	-
CANADA Growth	-	-	-	-	-	-	-	-
Other Geographical Area	-	-	-	-	-	82.8M	-	-
Other Geographical Area Growth	-	-	-	-	-	-	-	-
Non-US	-	-	431.3M	566.9M	894.9M	-	-	-
Non-US Growth	-	-	-	31.44%	57.86%	-	-	-
All Other	-	-	-	-	-	-	-	-
All Other Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Emergent BioSolutions Inc. (EBS) reported $788.9M in revenue for fiscal year 2024. This represents a 189% increase from $273.4M in 2011.

Emergent BioSolutions Inc. (EBS) saw revenue decline by 0.5% over the past year.

Yes, Emergent BioSolutions Inc. (EBS) is profitable, generating $75.9M in net income for fiscal year 2024 (-18.3% net margin).

Dividend & Returns

Emergent BioSolutions Inc. (EBS) has a return on equity (ROE) of -33.7%. Negative ROE indicates the company is unprofitable.

Emergent BioSolutions Inc. (EBS) generated $1.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Emergent BioSolutions Inc. (EBS) 10-Year Financial Performance & Capital Metrics

EBS • • Industrial / General

HealthcareSpecialty & Generic PharmaSpecialty PharmaceuticalsPublic Health Threats

Revenue $1.04B -0.5%
EBITDA -$3M +99.5%
Net Income -$191M +74.9%
EPS (Diluted) -3.60 +75.8%
Gross Margin 35.97% +4.8%
EBITDA Margin -0.3% +99.5%
Operating Margin -10.42% +85.0%
Net Margin -18.26% +74.8%
ROE -33.67% +54.9%
ROIC -6.64% +78.3%
Debt/Equity 1.40 +5.7%
Interest Coverage -1.53 +81.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 91 (top 9%)
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.94%

5Y-1.15%

3Y-16.2%

TTM-29.91%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM136.35%

EPS CAGR

10Y-

5Y-

3Y-

TTM131.46%

ROCE

10Y Avg2.16%

5Y Avg-6.17%

3Y Avg-21.1%

Latest-9.06%

Peer Comparison

Public Health Threats

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EBSEmergent BioSolutions Inc.	575.09M	10.95	-3.04	-0.54%	9.62%	13.03%	6.23%	1.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	489.33M	488.8M	560.9M	782.4M	1.11B	1.58B	1.77B	1.12B	1.05B	1.04B
Revenue Growth %	0.21%	-0%	0.15%	0.39%	0.41%	0.43%	0.12%	-0.37%	-0.06%	-0.01%
Cost of Goods Sold+	216.84M	244M	277.3M	462M	622.9M	714.2M	980.4M	644.5M	689.3M	668.2M
COGS % of Revenue	0.44%	0.5%	0.49%	0.59%	0.56%	0.45%	0.55%	0.58%	0.66%	0.64%
Gross Profit+	272.49M	244.8M	283.6M	320.4M	483.1M	863.1M	793.2M	473M	360M	375.4M
Gross Margin %	0.56%	0.5%	0.51%	0.41%	0.44%	0.55%	0.45%	0.42%	0.34%	0.36%
Gross Profit Growth %	0.38%	-0.1%	0.16%	0.13%	0.51%	0.79%	-0.08%	-0.4%	-0.24%	0.04%
Operating Expenses+	130.97M	139.3M	159.3M	230.6M	369M	424.6M	451.8M	643M	1.09B	484.1M
OpEx % of Revenue	0.27%	0.28%	0.28%	0.29%	0.33%	0.27%	0.25%	0.58%	1.04%	0.46%
Selling, General & Admin	121.14M	143.1M	142.9M	202.5M	273.5M	304.1M	348.7M	339.5M	356.7M	298.7M
SG&A % of Revenue	0.25%	0.29%	0.25%	0.26%	0.25%	0.19%	0.2%	0.3%	0.34%	0.29%
Research & Development	119.19M	106.9M	97.4M	142.8M	226.2M	237.9M	235.2M	188.3M	111.4M	70.7M
R&D % of Revenue	0.24%	0.22%	0.17%	0.18%	0.2%	0.15%	0.13%	0.17%	0.11%	0.07%
Other Operating Expenses	-109.36M	-110.7M	-81M	-114.7M	-130.7M	-117.4M	-132.1M	115.2M	618.3M	114.7M
Operating Income+	141.51M	105.5M	124.3M	89.8M	114.1M	438.5M	341.4M	-170M	-726.4M	-108.7M
Operating Margin %	0.29%	0.22%	0.22%	0.11%	0.1%	0.28%	0.19%	-0.15%	-0.69%	-0.1%
Operating Income Growth %	0.59%	-0.25%	0.18%	-0.28%	0.27%	2.84%	-0.22%	-1.5%	-3.27%	0.85%
EBITDA+	176.85M	143.7M	166.9M	152M	222.1M	548.5M	459.6M	-45M	-605.3M	-3.1M
EBITDA Margin %	0.36%	0.29%	0.3%	0.19%	0.2%	0.35%	0.26%	-0.04%	-0.58%	-0%
EBITDA Growth %	0.45%	-0.19%	0.16%	-0.09%	0.46%	1.47%	-0.16%	-1.1%	-12.45%	0.99%
D&A (Non-Cash Add-back)	35.34M	38.2M	42.6M	62.2M	108M	110M	118.2M	125M	121.1M	105.6M
EBIT	151.34M	94.7M	132.1M	92.9M	150.9M	499.2M	386M	-109.3M	-168.1M	-52.2M
Net Interest Income+	-5.95M	-6.56M	-6.6M	-9.9M	-38.4M	-31.3M	-34.5M	-37.3M	-87.9M	-71M
Interest Income	572K	1.05M	1.75M	0	0	0	0	0	0	0
Interest Expense	6.52M	7.62M	6.59M	9.9M	38.4M	31.3M	34.5M	37.3M	87.9M	71M
Other Income/Expense	-5.8M	-6.3M	-5.7M	-8.3M	-36.7M	-26.6M	-38.2M	-49M	-4.8M	-34.2M
Pretax Income+	135.72M	99.2M	118.6M	81.5M	77.4M	411.9M	303.2M	-219M	-731.2M	-142.9M
Pretax Margin %	0.28%	0.2%	0.21%	0.1%	0.07%	0.26%	0.17%	-0.2%	-0.7%	-0.14%
Income Tax+	44.3M	36.7M	36M	18.8M	22.9M	106.1M	83.7M	-7.4M	29.3M	47.7M
Effective Tax Rate %	0.46%	0.52%	0.7%	0.77%	0.7%	0.74%	0.72%	0.97%	1.04%	1.33%
Net Income+	62.87M	51.8M	82.6M	62.7M	54.5M	305.8M	219.5M	-211.6M	-760.5M	-190.6M
Net Margin %	0.13%	0.11%	0.15%	0.08%	0.05%	0.19%	0.12%	-0.19%	-0.72%	-0.18%
Net Income Growth %	0.71%	-0.18%	0.59%	-0.24%	-0.13%	4.61%	-0.28%	-1.96%	-2.59%	0.75%
Net Income (Continuing)	91.42M	62.5M	82.6M	62.7M	54.5M	305.8M	219.5M	-211.6M	-760.5M	-190.6M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.41	1.13	1.71	1.22	1.04	5.67	4.06	-4.47	-14.85	-3.60
EPS Growth %	0.6%	-0.2%	0.51%	-0.29%	-0.15%	4.45%	-0.28%	-2.1%	-2.32%	0.76%
EPS (Basic)	1.63	1.29	1.98	1.25	1.06	5.79	4.10	-4.47	-14.85	-3.60
Diluted Shares Outstanding	47.26M	49.34M	50.33M	51.4M	52.4M	53.8M	54.1M	50.1M	51.2M	53M
Basic Shares Outstanding	38.6M	40.18M	41.82M	50.1M	51.5M	52.7M	53.5M	50.1M	51.2M	53M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	538.61M	510.22M	485.39M	620.8M	686.2M	1.2B	1.27B	1.21B	679.5M	598.7M
Cash & Short-Term Investments	312.8M	271.51M	178.29M	112.2M	168M	621.3M	576.3M	642.6M	111.7M	99.5M
Cash Only	312.8M	271.51M	178.29M	112.2M	168M	621.3M	576.3M	642.6M	111.7M	99.5M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	120.48M	148.47M	146.1M	262.5M	275.3M	230.9M	278.9M	159.2M	191M	154.5M
Days Sales Outstanding	89.87	110.87	95.07	122.46	90.85	53.43	57.4	52	66.44	54.04
Inventory	76.94M	74M	142.81M	205.8M	222.5M	307M	344.5M	350.7M	328.9M	311.7M
Days Inventory Outstanding	129.5	110.7	187.98	162.59	130.38	156.9	128.26	198.61	174.16	170.26
Other Current Assets	29.28M	0	1M	200K	20.4M	2.2M	70.2M	57.9M	47.9M	33M
Total Non-Current Assets+	504.98M	459.89M	584.82M	1.61B	1.64B	1.69B	1.69B	1.96B	1.14B	791M
Property, Plant & Equipment	331.86M	376.45M	407.21M	510.2M	567M	675.1M	828.4M	837M	399M	270.6M
Fixed Asset Turnover	1.47x	1.30x	1.38x	1.53x	1.95x	2.34x	2.14x	1.34x	2.63x	3.86x
Goodwill	54.9M	41M	49.13M	259.7M	266.6M	266.7M	224.9M	218.2M	0	0
Intangible Assets	99.88M	33.87M	119.6M	811.6M	741.9M	663.1M	604.6M	728.8M	566.6M	501.5M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	7.06M	2.48M	6.05M	13.7M	52.2M	82.4M	29.9M	171.9M	178.1M	18.9M
Total Assets+	1.04B	970.11M	1.07B	2.23B	2.33B	2.88B	2.96B	3.17B	1.82B	1.39B
Asset Turnover	0.47x	0.50x	0.52x	0.35x	0.48x	0.55x	0.60x	0.35x	0.58x	0.75x
Asset Growth %	0.1%	-0.07%	0.1%	1.08%	0.04%	0.24%	0.03%	0.07%	-0.42%	-0.24%
Total Current Liabilities+	99.61M	105.86M	100.07M	200.4M	216.3M	384.5M	374M	1.23B	651.3M	162.4M
Accounts Payable	37.97M	34.65M	41.8M	80.7M	94.8M	136.1M	128.9M	103.5M	112.2M	60.9M
Days Payables Outstanding	63.91	51.83	55.02	63.76	55.55	69.56	47.99	58.62	59.41	33.27
Short-Term Debt	0	20M	0	10.1M	16.4M	39.5M	37.4M	963.1M	413.7M	2.7M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	1000K	1000K	0	0
Other Current Liabilities	25.66M	9.63M	7.2M	36.3M	42.7M	72M	107.3M	48.6M	106.8M	81.1M
Current Ratio	5.41x	4.82x	4.85x	3.10x	3.17x	3.11x	3.40x	0.98x	1.04x	3.69x
Quick Ratio	4.63x	4.12x	3.42x	2.07x	2.14x	2.31x	2.47x	0.70x	0.54x	1.77x
Cash Conversion Cycle	155.46	169.74	228.03	221.29	165.68	140.77	137.66	192	181.19	191.03
Total Non-Current Liabilities+	283.96M	268.05M	57.79M	1.02B	1.02B	1.05B	972.2M	549.7M	522.6M	744.5M
Long-Term Debt	246.89M	248.09M	13.5M	784.5M	798.4M	850.3M	809.4M	448.5M	446.5M	663.7M
Capital Lease Obligations	0	0	0	0	22.1M	27.8M	24.2M	14.8M	0	9.7M
Deferred Tax Liabilities	0	0	12.5M	67.5M	63.9M	0	93.3M	59.7M	0	41.7M
Other Non-Current Liabilities	30.96M	11.52M	44.3M	103.6M	52.5M	173.6M	40.6M	26.7M	76.1M	29.4M
Total Liabilities	383.57M	373.91M	157.86M	1.22B	1.24B	1.44B	1.35B	1.78B	1.17B	906.9M
Total Debt+	253M	268.09M	13.46M	794.6M	836.9M	923M	871M	1.43B	860.2M	676.1M
Net Debt	-59.8M	-3.42M	-164.84M	682.4M	668.9M	301.7M	294.7M	783.8M	748.5M	576.6M
Debt / Equity	0.38x	0.45x	0.01x	0.79x	0.77x	0.64x	0.54x	1.03x	1.32x	1.40x
Debt / EBITDA	1.43x	1.87x	0.08x	5.23x	3.77x	1.68x	1.90x	-	-	-
Net Debt / EBITDA	-0.34x	-0.02x	-0.99x	4.49x	3.01x	0.55x	0.64x	-	-	-
Interest Coverage	21.69x	13.85x	18.86x	9.07x	2.97x	14.01x	9.90x	-4.56x	-8.26x	-1.53x
Total Equity+	660.02M	596.21M	912.35M	1.01B	1.09B	1.45B	1.61B	1.39B	649.3M	482.8M
Equity Growth %	0.19%	-0.1%	0.53%	0.11%	0.08%	0.33%	0.11%	-0.14%	-0.53%	-0.26%
Book Value per Share	13.97	12.08	18.13	19.67	20.77	26.90	29.79	27.70	12.68	9.11
Total Shareholders' Equity	660.02M	596.21M	912.35M	1.01B	1.09B	1.45B	1.61B	1.39B	649.3M	482.8M
Common Stock	40K	41K	50K	100K	100K	100K	100K	100K	100K	100K
Retained Earnings	351.14M	254.48M	337.07M	367.3M	421.8M	726.9M	950.3M	738.7M	-21.8M	-212.4M
Treasury Stock	-6.42M	-6.42M	-39.5M	-39.6M	-39.6M	-39.6M	-152.2M	-227.7M	-227.7M	-227.7M
Accumulated OCI	-2.71M	-4.33M	-3.7M	-5.5M	-9.9M	-25.3M	-16.1M	3.1M	-5.7M	-5.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	44.46M	53.49M	208.14M	41.8M	188M	536.9M	321.1M	-34.1M	-206.3M	58.7M
Operating CF Margin %	0.09%	0.11%	0.37%	0.05%	0.17%	0.34%	0.18%	-0.03%	-0.2%	0.06%
Operating CF Growth %	-0.6%	0.2%	2.89%	-0.8%	3.5%	1.86%	-0.4%	-1.11%	-5.05%	1.28%
Net Income	62.87M	51.78M	82.59M	62.7M	54.5M	305.8M	230.9M	-211.6M	-760.5M	-190.6M
Depreciation & Amortization	35.34M	38.23M	42.57M	62.2M	110.7M	114.5M	123.8M	143.3M	125.1M	108.8M
Stock-Based Compensation	15.85M	18.48M	15.21M	23.2M	26.7M	51.8M	42.4M	45.1M	23.1M	18M
Deferred Taxes	3.46M	5.19M	3.26M	8.6M	-1.1M	-3.3M	46.9M	-28.6M	-8.9M	-5.5M
Other Non-Cash Items	-7.15M	-14.73M	10.78M	4.2M	39.6M	58.6M	33.5M	19.8M	485.2M	39.3M
Working Capital Changes	-65.9M	-45.45M	53.72M	-119.1M	-42.4M	9.5M	-156.4M	-2.1M	-70.3M	88.7M
Change in Receivables	-64.35M	-22.45M	-4.81M	-94.2M	-8.2M	27.5M	-48.2M	118.1M	-21.6M	-24.4M
Change in Inventory	-11.26M	-9.03M	6.07M	-1.9M	-16.7M	-66.9M	-44M	-57.1M	600K	-24.5M
Change in Payables	4.75M	-14.79M	16.13M	-7M	16.5M	28.3M	-2.5M	-14M	10.6M	-33M
Cash from Investing+	-45.46M	-76.26M	-249.93M	-897.2M	-96.9M	-151.9M	-225M	-381.3M	212.3M	125.2M
Capital Expenditures	-44.81M	-76.26M	-54.83M	-72.1M	-86.9M	-141.9M	-225M	-115.8M	-51.6M	-22.9M
CapEx % of Revenue	0.09%	0.16%	0.1%	0.09%	0.08%	0.09%	0.13%	0.1%	0.05%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-195.1M	2.6M	-10M	-10M	0	-265.5M	-6.3M	148.1M
Cash from Financing+	33.45M	-18.64M	-51.4M	788.7M	-35.9M	69.5M	-141M	481.2M	-535.7M	-190M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	31.55M	-18.64M	-17.6M	-6.4M	-49.6M	6.6M	900K	-900K	-700K	-900K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-353K	-22.77M	153.31M	-30.3M	101.1M	395M	96.1M	-149.9M	-257.9M	35.8M
FCF Margin %	-0%	-0.05%	0.27%	-0.04%	0.09%	0.25%	0.05%	-0.13%	-0.25%	0.03%
FCF Growth %	-1%	-63.5%	7.73%	-1.2%	4.34%	2.91%	-0.76%	-2.56%	-0.72%	1.14%
FCF per Share	-0.01	-0.46	3.05	-0.59	1.93	7.34	1.78	-2.99	-5.04	0.68
FCF Conversion (FCF/Net Income)	0.71x	1.03x	2.52x	0.67x	3.45x	1.76x	1.46x	0.16x	0.27x	-0.31x
Interest Paid	7.75M	8.2M	8.4M	10.2M	34.5M	21M	30.4M	33M	68.3M	64M
Taxes Paid	28.27M	10.1M	12M	14M	30.8M	109.3M	71.6M	6.2M	52.8M	26.5M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.36%	8.25%	10.95%	6.52%	5.19%	24.12%	14.35%	-14.11%	-74.67%	-33.67%
Return on Invested Capital (ROIC)	18.89%	13.26%	13.91%	5.52%	4.96%	18.76%	14.01%	-6.25%	-30.53%	-6.64%
Gross Margin	55.69%	50.08%	50.56%	40.95%	43.68%	54.72%	44.72%	42.33%	34.31%	35.97%
Net Margin	12.85%	10.6%	14.73%	8.01%	4.93%	19.39%	12.38%	-18.94%	-72.48%	-18.26%
Debt / Equity	0.38x	0.45x	0.01x	0.79x	0.77x	0.64x	0.54x	1.03x	1.32x	1.40x
Interest Coverage	21.69x	13.85x	18.86x	9.07x	2.97x	14.01x	9.90x	-4.56x	-8.26x	-1.53x
FCF Conversion	0.71x	1.03x	2.52x	0.67x	3.45x	1.76x	1.46x	0.16x	0.27x	-0.31x
Revenue Growth	20.98%	-0.11%	14.75%	39.49%	41.36%	42.61%	12.45%	-36.99%	-6.1%	-0.54%

Revenue by Segment

	2015	2018	2019	2020	2021	2022	2023	2024
Product	-	-	903.5M	989.8M	1.02B	966.2M	944.5M	908.7M
Product Growth	-	-	-	9.55%	3.45%	-5.64%	-2.25%	-3.79%
Contract Development And Manufacturing	-	-	80M	450.5M	634.6M	113.3M	78.5M	104.9M
Contract Development And Manufacturing Growth	-	-	-	463.12%	40.87%	-82.15%	-30.71%	33.63%
Contracts and Grants	-	-	122.5M	115.1M	134.2M	41.4M	26.3M	30M
Contracts and Grants Growth	-	-	-	-6.04%	16.59%	-69.15%	-36.47%	14.07%

Revenue by Geography

	2015	2018	2019	2020	2021	2022	2023	2024
Services	-	-	-	-	-	-	78.5M	104.9M
Services Growth	-	-	-	-	-	-	-	33.63%
UNITED STATES	-	526.1M	674.7M	988.5M	897.8M	889.5M	-	-
UNITED STATES Growth	-	-	28.25%	46.51%	-9.18%	-0.92%	-	-
CANADA	-	-	-	-	-	148.6M	-	-
CANADA Growth	-	-	-	-	-	-	-	-
Other Geographical Area	-	-	-	-	-	82.8M	-	-
Other Geographical Area Growth	-	-	-	-	-	-	-	-
Non-US	-	-	431.3M	566.9M	894.9M	-	-	-
Non-US Growth	-	-	-	31.44%	57.86%	-	-	-
All Other	-	-	-	-	-	-	-	-
All Other Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Emergent BioSolutions Inc. (EBS) reported $788.9M in revenue for fiscal year 2024. This represents a 189% increase from $273.4M in 2011.

Emergent BioSolutions Inc. (EBS) saw revenue decline by 0.5% over the past year.

Yes, Emergent BioSolutions Inc. (EBS) is profitable, generating $75.9M in net income for fiscal year 2024 (-18.3% net margin).

Dividend & Returns

Emergent BioSolutions Inc. (EBS) has a return on equity (ROE) of -33.7%. Negative ROE indicates the company is unprofitable.

Emergent BioSolutions Inc. (EBS) generated $1.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.