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Adma Biologics, Inc. key statistics and ratios

In fiscal 2025, Adma Biologics, Inc. had return on equity of 35.6% and a net margin of 28.8%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin−775.7%−653.0%−506.2%−284.2%−250.4%−183.1%−192.3%−387.1%−164.5%−179.4%−88.5%−42.8%−10.9%46.4%28.8%33.0%
Return on equity—−148.9%−100.2%−121.9%—————−132.4%−62.5%−45.0%−19.7%81.6%35.6%38.2%
Return on assets−201.8%−79.0%−65.3%−57.0%−70.8%−82.3%−66.5%−66.8%−44.7%−45.3%−29.6%−21.1%−8.3%48.3%26.4%25.8%
Effective tax rate——————————————19.6%22.0%
R&D as % of revenue85.0%310.3%303.3%160.9%97.7%72.1%24.5%23.1%8.0%14.0%4.5%2.3%1.3%0.4%0.9%2.2%
SG&A as % of revenue—————————83.0%53.0%34.0%22.9%17.4%18.0%19.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 7 checks passed · June 30, 2026
What it owns · $684m
Short-term assets $528mLonger-term assets $156m
What it owes, and who funded it · $684m
Short-term liabilities $76mLonger-term liabilities $200mShareholders' equity $408m
  • Short-term assets cover short-term liabilities $528m of assets due within a year against $76m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $528m short-term assets against $200m of longer-dated liabilities.
  • More cash than debt $136m of cash against $197m of debt.
  • Debt below 40% of shareholders' equity Debt is 48% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 67% to 48% over five years.
  • A year's operating cash flow covers at least 20% of debt $137m of operating cash flow against $197m of debt.
  • Operating profit covers interest at least five times over Operating income of $224m against $9m of interest.

From Adma Biologics, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

40 /100

Weak moat

How hard Adma Biologics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 15.0% of total assets over 5 years.

  • Pricing power 5 / 20

    Gross margin has been a median 37.8%, moving by 26.3 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -76.6%; its worst year was -298.7%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -136.8% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 123.8% over five years; stock-based pay has been a median 4.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (45 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ADMA vs HCMADMA vs KRYSADMA vs ARQT

More: Biotechnology stocks compared, Health Care sector, rankings of US companies

Figures from Adma Biologics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Adma Biologics, Inc.