ADMA ADMA BIOLOGICS, INC.

Overview and Growth

In fiscal 2025, ADMA BIOLOGICS, INC. recorded $510.17M of revenue, net income of $146.93M, and an operating cash inflow of $50.40M. Revenue of $510.17M sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 19.6% from $426.45M in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $0.60, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS decreased by 25.9% from $0.81 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The revenue-to-assets relationship was 0.82x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $292.76M as gross profit before recognizing operating expenses and other items. Gross margin was 57.4%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $191.44M, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 37.5% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $146.93M, after the operating, financing, tax, and other items recognized for the period. Net margin was 28.8%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $182.66M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 35.8%, adding a pre-tax profitability layer between revenue and net income. The company recognized $35.73M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 19.6%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

Total assets were $624.24M, supported by $146.92M of liabilities and $477.32M of shareholder equity. Current assets were $466.51M against $69.54M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 6.71x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $87.63M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 126.0% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $72.14M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.15x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 11.6% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 23.5%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 14.0%, a balance-sheet composition measure rather than a liquidity forecast.

Cash Flow and Earnings Quality

The company reported $50.40M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 0.34x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $22.57M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 44.8%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $27.82M, leaving a positive amount after capital expenditures. Free cash flow represented 5.5% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 4.5% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.