Alvotech vs Emergent Biosolutions
Emergent Biosolutions is the larger business, with $743m of revenue in fiscal 2025 against $586m for Alvotech (1.3 times as much). Alvotech grew faster (19.7% against -28.8%). Emergent Biosolutions kept more of each dollar of sales as profit: a net margin of 7.1% against 4.8%.
| Latest fiscal year | AlvotechALVO, 2025 | Emergent BiosolutionsEBS, 2025 |
|---|---|---|
| Revenue | $586m | $743m |
| Revenue growth | 19.7% | -28.8% |
| Net income | $27.9m | $52.6m |
| Operating margin | 13.3% | 13.5% |
| Net margin | 4.8% | 7.1% |
| Return on equity | — | 10.5% |
| Free cash flow | −$115m | $157m |
| Cash | $172m | $205m |
| Total debt | $1.30bn | $590m |
| Debt to equity | — | 112.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $24.9m |
| Employees | — | 900 |
| Market value | $1.42bn | $318m |
| Price vs our value range | — | Below our value range |
| Moat score | — | 27 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 15 sales |