ADMA
ADMA Biologics, Inc.
ADMA's fundamentals are strong: its operating margin rose 12 points to 46% and it turned 26% of its revenue into free cash flow. At 17x earnings, it's trading below its usual 21x. Analysts expect earnings growth.
ADMA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
ADMA's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
ADMA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $10.76 | -19% |
| Forward | 16x | $13.24 | — |
| Current | 17x | $13.24 | — |
| Fair | 21x | $16.22 | +23% |
| Expensive | 66x | $50.55 | +282% |
Historical ranges are pointers, not guarantees.
ADMA's PE is in its cheap range at 17x. If earnings grow as analysts expect, today's price would be 16x next year's earnings.
ADMA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ADMA, with profitability improving.
ADMA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.81 | +5.6% |
| Q3 2026 | $0.77 | -9.4% |
| Q2 2026 | $0.70 | -18% |
| Q1 2026 | $0.68 | -19% |
| Q4 2025 | $0.60 | -26% |
| Q3 2025 | $0.85 | +204% |
| Q2 2025 | $0.85 | +507% |
| Q1 2025 | $0.84 | +$0.86 |
| Q4 2024 | $0.81 | +$0.94 |
ADMA earned $0.77 per share over the past year, down 9.4% from the year before.
ADMA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $141.1M | +5.1% |
| Q2 2026 | $124.4M | +2% |
| Q1 2026 | $114.5M | -0.3% |
| Q4 2025 | $139.2M | +18% |
| Q3 2025 | $134.2M | +12% |
| Q2 2025 | $122M | +14% |
| Q1 2025 | $114.8M | +40% |
| Q4 2024 | $117.5M | +59% |
ADMA's revenue is growing: $141M last quarter, up 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 48% | +10 points |
| Q2 2026 | 42% | +7.1 points |
| Q1 2026 | 51% | +21 points |
| Q4 2025 | 45% | +13 points |
| Q3 2025 | 38% | +4.9 points |
| Q2 2025 | 35% | -1.5 points |
| Q1 2025 | 30% | +3.7 points |
| Q4 2024 | 33% | +13 points |
ADMA's operating margin was 48% last quarter, up 10 points from the same quarter a year ago, near the top of its range since 2019.
ADMA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $15.4M | +$16.4M |
| Q2 2026 | $27.3M | +46% |
| Q1 2026 | $55.7M | +$80.1M |
| Q4 2025 | $34.6M | -27% |
| Q3 2025 | -$1.1M | -104% |
| Q2 2025 | $18.7M | -57% |
| Q1 2025 | -$24.4M | -$19.8M |
| Q4 2024 | $47.5M | +189% |
ADMA has burned cash in most quarters: $133M over the past year, about three times what it generated the year before.
ADMA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2% | -4.5M shares |
| 1 year | -7.7% | -18.8M shares |
| 3 years | -3.4% | -7.9M shares |
| 5 years | +77% | +98.4M shares |
| Available history | +206% | +152M shares |
ADMA has 226M diluted shares, down 7.7% from a year ago, with $189M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $25.1M |
| Q2 2026 | $25.1M |
| Q1 2026 | $130.2M |
| Q4 2025 | $8.9M |
ADMA spent $189M buying back its own shares over the past year.
ADMA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -0.7x | Net Cash |
ADMA's net debt is less than a year of its operating earnings (EBITDA).
ADMA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.1 | Neutral |
| Stochastic | 85.4 | Overbought |
ADMA's weekly RSI is 69 (neutral) and its Stochastic is 85 (overbought).
ADMA PE vs Healthcare Sector
| Metric | ADMA | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 26x | 34% below |
| PE % | 28 | 29 | 1 pt below |
ADMA is trading at 17x earnings, a 34% discount to the Healthcare sector's median of 26x.
ADMA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.0 | 20% above |
| 20 week MA | $9.91 | 34% above |
| 50 week MA | $12.0 | 10% above |
| 100 week MA | $14.9 | 11% below |
| 200 week MA | $11.4 | 17% above |
ADMA's trend is mixed: it's above four of its five weekly moving averages, and 17% above its 200-week average.
ADMA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.95 | $2.15 | -46% |
| 2021 | $2.15 | $1.27 | -41% |
| 2022 | $1.27 | $3.65 | +187% |
| 2023 | $3.65 | $4.52 | +24% |
| 2024 | $4.52 | $17.5 | +286% |
| 2025 | $17.5 | $19.3 | +10% |
| 2026 YTD | $19.3 | $13.2 | -31% |
ADMA's yearly returns have swung widely, from +286% in 2024 to −46% in 2020. It's down 31% so far in 2026.