Latest Ratios: P/E Ratio 15.3x · EV/EBITDA 10.6x · ROE 35.6%. (2007–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.1B | $4.5B | $4.2B | $1.0B | $768M | $197M | $168M | $217M | $108M | $73M | $62M |
| Enterprise Value | $2.1B | $4.5B | $4.2B | $1.1B | $836M | $249M | $210M | $275M | $129M | $73M | $73M |
| P/E Ratio → | 15.27 | 30.40 | 21.17 | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.16 | 8.76 | 9.79 | 3.92 | 4.98 | 2.43 | 3.98 | 7.41 | 6.36 | 3.23 | 5.84 |
| P/B Ratio | 4.70 | 9.36 | 11.96 | 7.49 | 5.05 | 1.39 | 1.90 | 8.30 | 5.46 | 1.82 | — |
| P/FCF | 76.31 | 160.56 | 37.91 | 265.09 | — | — | — | — | — | — | — |
| P/OCF | 42.13 | 88.64 | 35.17 | 115.04 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.74 | 9.74 | 4.27 | 5.42 | 3.07 | 4.97 | 9.38 | 7.62 | 3.22 | 6.81 |
| EV / EBITDA | 10.60 | 22.35 | 28.24 | 36.79 | — | — | — | — | — | — | — |
| EV / EBIT | 11.05 | 23.50 | 29.73 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 160.29 | 37.71 | 288.67 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.4% | 57.4% | 51.5% | 34.4% | 22.9% | 1.4% | -45.2% | -34.6% | -148.4% | -28.1% | 40.3% |
| Operating Margin | 37.5% | 37.5% | 32.6% | 8.4% | -25.5% | -72.1% | -153.8% | -141.1% | -354.9% | -172.7% | -162.6% |
| Net Profit Margin | 28.8% | 28.8% | 46.4% | -10.9% | -42.8% | -88.5% | -179.4% | -164.5% | -387.1% | -192.3% | -183.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 35.6% | 35.6% | 81.6% | -19.7% | -45.0% | -62.5% | -132.4% | -210.1% | -218.8% | -243.9% | — |
| ROA | 26.4% | 26.4% | 48.3% | -8.3% | -21.1% | -29.6% | -45.3% | -44.7% | -66.8% | -66.5% | -82.3% |
| ROIC | 36.0% | 36.0% | 37.7% | 7.3% | -14.3% | -27.1% | -45.5% | -49.5% | -111.0% | -128.0% | -216.7% |
| ROCE | 38.8% | 38.8% | 39.0% | 7.4% | -14.2% | -26.9% | -43.2% | -43.1% | -67.8% | -70.8% | -108.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.17 | 0.24 | 1.05 | 1.02 | 0.73 | 1.11 | 3.23 | 2.24 | 1.07 | — |
| Debt / EBITDA | 0.40 | 0.40 | 0.56 | 4.72 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.02 | -0.06 | 0.67 | 0.45 | 0.37 | 0.47 | 2.21 | 1.09 | -0.00 | — |
| Net Debt / EBITDA | -0.04 | -0.04 | -0.14 | 3.01 | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.28 | -0.19 | 23.58 | — | — | — | — | — | — | — |
| Interest Coverage | 26.69 | 26.69 | 10.02 | -0.13 | -2.42 | -4.49 | -5.32 | -4.37 | -10.90 | -12.32 | -7.71 |
Net cash position: cash ($88M) exceeds total debt ($80M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.71 | 6.71 | 5.97 | 5.16 | 6.89 | 6.87 | 7.71 | 6.12 | 4.63 | 6.69 | 1.93 |
| Quick Ratio | 3.74 | 3.74 | 2.90 | 1.69 | 2.73 | 2.77 | 3.62 | 2.34 | 2.69 | 5.35 | 1.48 |
| Cash Ratio | 1.26 | 1.26 | 1.86 | 1.03 | 2.20 | 1.68 | 2.80 | 1.91 | 2.36 | 4.57 | 1.36 |
| Asset Turnover | — | 0.82 | 0.87 | 0.78 | 0.44 | 0.29 | 0.20 | 0.23 | 0.19 | 0.21 | 0.45 |
| Inventory Turnover | 1.05 | 1.05 | 1.22 | 0.98 | 0.73 | 0.64 | 0.75 | 0.74 | 2.27 | 2.31 | 1.27 |
| Days Sales Outstanding | — | 113.35 | 42.79 | 38.76 | 36.73 | 128.86 | 114.44 | 43.15 | 29.92 | 62.22 | 34.85 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 3.3% | 4.7% | — | — | — | — | — | — | — | — |
| FCF Yield | 1.3% | 0.6% | 2.6% | 0.4% | — | — | — | — | — | — | — |
| Buyback Yield | 1.5% | 0.7% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.5% | 0.7% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $245M | $243M | $224M | $198M | $140M | $86M | $54M | $45M | $23M | $12M |
Single facility manufacturing concentration
According to current market data, ADMA trades at a P/E of 14.58, which suggests investors are pricing in a transition from a high-growth biotech phase to a sustainable, specialty-manufacturer status relative to the broader healthcare sector's historical valuation multiples.
The forward P/E of 10.57 implies that the market anticipates continued earnings expansion, though the P/S ratio of 3.98 indicates a premium valuation that may be sensitive to any deceleration in revenue growth. Investors should monitor whether this valuation remains supported by the company's ability to maintain its current margin profile as it scales.
Based on reported financial figures, ADMA's ROIC has trended toward 9.4% in 2026Q1, reflecting a significant improvement from the 4.7% observed in 2023Q4 as the company successfully leverages its vertically integrated plasma supply chain to drive higher returns on invested capital.
The upward trajectory in ROIC suggests that management is effectively deploying capital into high-margin therapeutic products rather than low-margin commodity plasma. This trend warrants further investigation to determine if the company can sustain these returns as it expands its collection center footprint and faces increased competition.
As reported in recent financial statements, ADMA's cash conversion cycle reached 630 days in 2026Q1, a substantial increase from 369 days in 2023Q4, primarily driven by a significant rise in days inventory outstanding as the company manages its complex plasma fractionation manufacturing process.
The extended CCC suggests that the company's liquidity is heavily tied up in inventory, which is characteristic of the long lead times required for plasma-derived therapeutics. While this reflects the nature of the business, investors should monitor whether this inventory buildup is a strategic buffer or a sign of potential future obsolescence risks.
According to recent SEC filings, ADMA has successfully reduced its debt-to-equity ratio to 0.17% as of 2025Q4, providing a significant buffer against interest rate volatility compared to more highly levered peers in the biotechnology and plasma fractionation industry.
The company's improved interest coverage ratio of 27.75 in 2026Q1 suggests that debt service is becoming increasingly comfortable, allowing for greater financial flexibility. This healthy leverage profile appears to mitigate the risks associated with the company's reliance on a single manufacturing facility.
The P/E ratio is frequently misapplied to ADMA's business model because it fails to account for the significant non-cash charges and inventory-related accounting lags inherent in the long-cycle plasma fractionation process, which can distort short-term earnings visibility.
Analysts should instead prioritize EV/EBITDA or cash-flow-based metrics to better capture the underlying operational performance of the business. Relying solely on P/E may obscure the true cash-generative capacity of the company's proprietary high-titer donor pools and the structural margin expansion currently underway.
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying ADMA stock.
ADMA Biologics, Inc.'s current P/E ratio is 15.3x. The historical average is 25.8x.
ADMA Biologics, Inc.'s current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.1x.
ADMA Biologics, Inc.'s return on equity (ROE) is 35.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -99.3%.
Based on historical data, ADMA Biologics, Inc. is trading at a P/E of 15.3x. Compare with industry peers and growth rates for a complete picture.
ADMA Biologics, Inc. has 57.4% gross margin and 37.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
ADMA Biologics, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.