ADMA Biologics, Inc. (ADMA) Stock Analysis
Healthcare · Biotechnology · NasdaqGM
ADMA Biologics, Inc. (ADMA) posted $510.17M in revenue for fiscal 2025 (up 19.6% year over year), at a 28.8% net margin, and has compounded revenue about 64.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on ADMA Biologics, Inc.
ADMA Biologics, Inc. has grown revenue from $10.66M to $510.17M over the last 10 fiscal years, compounding about 64.6% a year. The most recent year was up 19.6%, so growth has cooled from its longer-run pace.
Net margin sits at 28.8%, down 17.6 points year over year on a 57.4% gross margin. It carries about $72.14M of total debt.
At today's valuation the market is pricing in roughly 24.9% annual free-cash-flow growth. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from ADMA Biologics, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
ADMA Biologics, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.66M | $22.76M | $16.99M | $29.35M | $42.22M | $80.94M | $154.08M | $258.21M | $426.45M | $510.17M |
| Gross profit | $4.30M | $-6.40M | $-25.21M | $-10.16M | $-19.07M | $1.17M | $35.27M | $88.94M | $219.55M | $292.76M |
| Net income | $-19.52M | $-43.76M | $-65.74M | $-48.28M | $-75.75M | $-71.65M | $-65.90M | $-28.24M | $197.67M | $146.93M |
| Net margin | -183.1% | -192.3% | -387.1% | -164.5% | -179.4% | -88.5% | -42.8% | -10.9% | 46.4% | 28.8% |
Source: ADMA Biologics, Inc. SEC filings (10-K). 15 years of history available in the interactive view.
ADMA Biologics, Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 216.9% while revenue rose 19.6% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Reported earnings run ahead of cashOver 3 years net income totalled $316.4M but operating cash flow only $177.9M — earnings aren't fully backed by cash, an accruals flag worth investigating.
- Share count rising (dilution)Shares outstanding grew 21.5% over 4 years (195.8M → 237.9M) — existing holders' stakes are being diluted.
What growth is priced into ADMA stock?
At today's market cap of $1.95B, ADMA Biologics, Inc. is priced for free-cash-flow growth of about 24.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $27.82M from the FY ending 2025-12-31). For comparison, revenue 64.6%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 15 years of ADMA Biologics, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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ADMA Biologics, Inc. financial history by metric
Compare ADMA Biologics, Inc. with peers
About ADMA Biologics, Inc.
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.
ADMA Biologics, Inc. — frequently asked questions
What is ADMA Biologics, Inc.'s revenue?
ADMA Biologics, Inc. (ADMA) reported revenue of $510.17M for fiscal year 2025, up 19.6% from the prior year, according to its SEC filings.
Is ADMA Biologics, Inc. profitable?
Yes. ADMA earned net income of $146.93M in fiscal 2025, a net margin of 28.8%.
What is ADMA's P/E ratio?
ADMA Biologics, Inc. trades at a price-to-earnings ratio of about 12.4 based on the latest data in our nightly-refreshed cache.
How fast is ADMA Biologics, Inc. growing?
ADMA's revenue grew at roughly 64.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does ADMA Biologics, Inc. have?
As of fiscal year 2025, ADMA carried roughly $72.14M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is ADMA Biologics, Inc.'s gross margin?
ADMA's gross margin was 57.4% in fiscal 2025 — gross profit of $292.76M on revenue of $510.17M.
What is ADMA Biologics, Inc.'s market cap?
ADMA Biologics, Inc. (ADMA) has a market capitalization of about $1.95B, based on the latest data in our nightly-refreshed cache.
When does ADMA Biologics, Inc.'s fiscal year end?
ADMA's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into ADMA stock?
At today's market cap of $1.95B, ADMA Biologics, Inc. is priced for free-cash-flow growth of about 24.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $27.82M from the FY ending 2025-12-31). For comparison, revenue 64.6%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from ADMA Biologics, Inc.'s official SEC filings (10-K and 10-Q), covering 15 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.