ADMA Biologics, Inc. (ADMA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1001.8%

-$114.35

vs $12.68 price

Levered DCF

-$74.20

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

8.39

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	29.42×	20.18×	-34.77×	-9.02×	-2.31×	-1.91×	-3.81×	-1.65×
P/B	9.11×	11.45×	7.49×	5.05×	1.39×	1.9×	8.3×	5.46×
P/S	8.52×	9.37×	3.92×	4.98×	2.43×	3.98×	7.41×	6.36×
EV / EBITDA	21.93×	26.92×	215.32×	-21.15×	-4.68×	-3.51×	-7.64×	-2.28×
Gross margin	57.4%	51.5%	34.4%	22.9%	1.4%	-45.2%	-34.6%	-148.4%
Operating margin	37.5%	32.6%	8.4%	-25.5%	-72.1%	-153.8%	-141.1%	-354.9%
Net margin	28.8%	46.4%	-10.9%	-42.8%	-88.5%	-179.4%	-164.5%	-387.1%
Current ratio	6.71×	5.97×	5.16×	6.89×	6.87×	7.71×	6.12×	4.63×
Debt / equity	0.17×	0.24×	1.05×	1.02×	0.73×	1.11×	3.23×	2.24×
Interest coverage	26.93×	9.98×	0.86×	-2.04×	-4.47×	-5.42×	-4.61×	-10.92×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	30.8%	56.6%	-20.9%	-43.4%	-50.8%	-85.8%	-184.3%	-332.5%
Return on invested capital	27.6%	32.0%	7.7%	-12.7%	-23.7%	-34.5%	-36.6%	-76.0%
Return on assets	23.5%	40.5%	-8.6%	-18.9%	-25.9%	-36.5%	-38.0%	-74.0%
Free cash flow yield	0.6%	2.8%	0.4%	-9.6%	-64.0%	-68.3%	-36.8%	-60.0%
Earnings yield	3.4%	4.9%	-2.8%	-8.6%	-36.4%	-45.1%	-22.2%	-60.9%
Enterprise value	$4.3B	$4B	$1.1B	$835.7M	$248.6M	$209.7M	$275.4M	$129.5M
Net debt / EBITDA	-0.04×	-0.14×	17.59×	-1.72×	-0.98×	-0.7×	-1.61×	-0.38×
Cash conversion cycle (days)	422	307	378	498	643	534	449	140