Recent News
April 29, 2026 — ADMA announced a May 6, 2026 conference call to report first-quarter 2026 financial results.
May 6, 2026 — ADMA reported Q1 2026 results: $114.5 million revenue (flat YoY), ASCENIV revenue +27.7% YoY, adjusted net income $40.7 million (+22% YoY), and adjusted EBITDA $59.7 million (+24% YoY); the company updated its FY 2026 outlook and withdrew long-term guidance.
June 16–26, 2026 — Multiple law firms announced securities class-action investigations and filings related to ADMA, with notices and filing deadlines published in mid–late June.
Technical Analysis
Directional indicators show DI+ at 21.39 with a decreasing trend (bearish) while DI- sits at 19.82 and is increasing (bearish); ADX at 14.49 indicates no established trend. Those readings signal weakening bullish pressure without a clear directional trend, raising near-term volatility against the company’s operational strength.
MACD registers at approximately -0.00 with a decreasing trend and the signal line at 0.03; MACD negative and declining denotes bearish momentum and the indicator remains below its signal line, implying limited immediate upward momentum.
MRO at -7.25 indicates the price sits below the model target and therefore carries potential to adjust upward if momentum returns; that potential coexists with the current bearish momentum readings.
RSI at 48.29 with a peak-and-reversal indicates recent loss of upside momentum but stays near neutral, supporting a sideways-to-range market profile rather than trending breakout.
Price at $8.38 trades below the 20-day average ($8.90) and well below the 200-day average ($13.55), and it sits slightly below the 1× lower Bollinger level ($8.61), reflecting short-term weakness with a modest oversold signature. Volume runs below the 10-, 50- and 200-day averages, implying lower trading participation and muted conviction in any directional move.
Fundamental Analysis
Revenue totaled $114,493,000 in Q1 2026, essentially flat YoY, while YoY revenue growth reads +6.59% and QoQ revenue declined by 5.82%. Product-level mix drove ASCENIV growth of 27.7% YoY against a 54.0% YoY decline in BIVIGAM revenue, indicating concentration of growth in ASCENIV.
Margins expanded materially: gross margin at 70.53% and EBIT margin at 51.73%. The EBIT margin sits above the industry peer range high of 25.24% (industry peer mean -1.15%; industry peer median 0.23%), reflecting outsized profitability on current revenue. YoY EBIT margin improved by 67.64% (expressed as 0.67644 in the data) and QoQ moved higher by 13.87%.
Cash and liquidity present a strong profile: cash and short-term investments $138,153,000; operating cash flow $52,105,000; free cash flow $55,653,000; current ratio 6.95 and quick ratio 3.93. Interest coverage at 28.20 and net debt of $58,712,000 yield manageable leverage with debt-to-EBITDA near 3.35.
Earnings details show diluted EPS actual $0.17 versus estimate $0.20 (EPS surprise ratio -15%), forward EPS $0.264 and forward PE ~58.00; trailing PE stands near 74.24. Free cash flow yield registers roughly 1.90% (0.01898). The current valuation as determined by WMDST: over-valued, driven by high multiples (PE and EV/EBITDA) despite healthy cash generation and margin performance.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-06 |
| NEXT REPORT DATE: | 2026-08-05 |
| CASH FLOW | Begin Period Cash Flow | $ 87.6 M |
| Operating Cash Flow | $ 52.1 M | |
| Capital Expenditures | $ -2.60 M | |
| Change In Working Capital | $ 9.2 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 50.5 M | |
| End Period Cash Flow | $ 138.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 114.5 M | |
| Forward Revenue | $ 38.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 33.7 M | |
| Depreciation | $ 1.8 M | |
| Depreciation and Amortization | $ 1.8 M | |
| Research and Development | $ 2.6 M | |
| Total Operating Expenses | $ 64.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 80.8 M | |
| EBITDA | $ 61.1 M | |
| EBIT | $ 59.2 M | |
| Operating Income | $ 50.3 M | |
| Interest Income | $ 1.1 M | |
| Interest Expense | $ 2.1 M | |
| Net Interest Income | $ -1.01 M | |
| Income Before Tax | $ 57.1 M | |
| Tax Provision | $ 11.8 M | |
| Tax Rate | 20.654 % | |
| Net Income | $ 45.3 M | |
| Net Income From Continuing Operations | $ 45.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.20 | |
| EPS Actual | $ 0.17 | |
| EPS Difference | $ -0.03 | |
| EPS Surprise | -15.0 % | |
| Forward EPS | $ 0.26 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 665.2 M | |
| Intangible Assets | $ 4.2 M | |
| Net Tangible Assets | $ 386.2 M | |
| Total Current Assets | $ 511.2 M | |
| Cash and Short-Term Investments | $ 138.2 M | |
| Cash | $ 138.2 M | |
| Net Receivables | $ 135.9 M | |
| Inventory | $ 222.1 M | |
| Long-Term Investments | $ 8.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 20.5 M | |
| Short-Term Debt | $ 3.3 M | |
| Total Current Liabilities | $ 73.5 M | |
| Net Debt | $ 58.7 M | |
| Total Debt | $ 204.4 M | |
| Total Liabilities | $ 274.9 M | |
| EQUITY | ||
| Total Equity | $ 390.3 M | |
| Retained Earnings | $ -116.33 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 1.68 | |
| Shares Outstanding | 232.289 M | |
| Revenue Per-Share | $ 0.49 | |
| VALUATION | Market Capitalization | $ 2.9 B |
| Enterprise Value | $ 3.0 B | |
| Enterprise Multiple | 49.095 | |
| Enterprise Multiple QoQ | -20.986 % | |
| Enterprise Multiple YoY | -61.434 % | |
| Enterprise Multiple IPRWA | high: 75.51 ADMA: 49.095 median: 18.371 mean: 7.011 low: -128.217 |
|
| EV/R | 26.185 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.704 | |
| Asset To Liability | 2.42 | |
| Debt To Capital | 0.344 | |
| Debt To Assets | 0.307 | |
| Debt To Assets QoQ | 140.127 % | |
| Debt To Assets YoY | 91.303 % | |
| Debt To Assets IPRWA | high: 1.112 ADMA: 0.307 mean: 0.167 median: 0.031 low: 0.0 |
|
| Debt To Equity | 0.524 | |
| Debt To Equity QoQ | 212.906 % | |
| Debt To Equity YoY | 138.437 % | |
| Debt To Equity IPRWA | high: 1.864 ADMA: 0.524 mean: 0.193 median: 0.051 low: -1.172 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 7.511 | |
| Price To Book QoQ | -11.762 % | |
| Price To Book YoY | -40.951 % | |
| Price To Book IPRWA | high: 20.93 mean: 7.542 ADMA: 7.511 median: 5.469 low: -11.267 |
|
| Price To Earnings (P/E) | 74.242 | |
| Price To Earnings QoQ | -4.376 % | |
| Price To Earnings YoY | -58.989 % | |
| Price To Earnings IPRWA | ADMA: 74.242 high: 73.877 mean: -2.619 median: -14.81 low: -121.28 |
|
| PE/G Ratio | -3.267 | |
| Price To Sales (P/S) | 25.606 | |
| Price To Sales QoQ | -12.296 % | |
| Price To Sales YoY | -38.111 % | |
| Price To Sales IPRWA | high: 864.732 mean: 64.688 median: 30.918 ADMA: 25.606 low: 0.192 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 58.004 | |
| Forward PE/G | -2.552 | |
| Forward P/S | 75.66 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 0.356 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.178 | |
| Asset Turnover Ratio QoQ | -23.882 % | |
| Asset Turnover Ratio YoY | -22.713 % | |
| Asset Turnover Ratio IPRWA | high: 0.403 ADMA: 0.178 mean: 0.102 median: 0.094 low: 0.0 |
|
| Receivables Turnover | 0.778 | |
| Receivables Turnover Ratio QoQ | -17.222 % | |
| Receivables Turnover Ratio YoY | -49.367 % | |
| Receivables Turnover Ratio IPRWA | high: 6.246 mean: 1.268 median: 1.226 ADMA: 0.778 low: 0.013 |
|
| Inventory Turnover | 0.157 | |
| Inventory Turnover Ratio QoQ | -36.957 % | |
| Inventory Turnover Ratio YoY | -49.799 % | |
| Inventory Turnover Ratio IPRWA | high: 2.566 mean: 0.502 median: 0.358 ADMA: 0.157 low: 0.003 |
|
| Days Sales Outstanding (DSO) | 117.274 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 466.637 | |
| Cash Conversion Cycle Days QoQ | 24.528 % | |
| Cash Conversion Cycle Days YoY | 48.997 % | |
| Cash Conversion Cycle Days IPRWA | high: 1575.417 ADMA: 466.637 mean: 227.347 median: 208.031 low: -1586.264 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.262 | |
| CapEx To Revenue | -0.023 | |
| CapEx To Depreciation | -1.455 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 583.9 M | |
| Net Invested Capital | $ 587.2 M | |
| Invested Capital | $ 587.2 M | |
| Net Tangible Assets | $ 386.2 M | |
| Net Working Capital | $ 437.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.879 | |
| Current Ratio | 6.951 | |
| Current Ratio QoQ | 3.614 % | |
| Current Ratio YoY | 5.697 % | |
| Current Ratio IPRWA | high: 32.587 ADMA: 6.951 mean: 3.943 median: 2.409 low: 0.016 |
|
| Quick Ratio | 3.931 | |
| Quick Ratio QoQ | 5.116 % | |
| Quick Ratio YoY | 17.071 % | |
| Quick Ratio IPRWA | high: 9.985 ADMA: 3.931 mean: 2.764 median: 2.568 low: 0.054 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 3.347 | |
| Cost Of Debt | 1.172 % | |
| Interest Coverage Ratio | 28.203 | |
| Interest Coverage Ratio QoQ | -27.463 % | |
| Interest Coverage Ratio YoY | 57.238 % | |
| Interest Coverage Ratio IPRWA | high: 604.866 ADMA: 28.203 median: -14.877 mean: -77.342 low: -1643.72 |
|
| Operating Cash Flow Ratio | 0.709 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 39.005 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.559 % | |
| Revenue Growth | -17.727 % | |
| Revenue Growth QoQ | -581.712 % | |
| Revenue Growth YoY | 658.537 % | |
| Revenue Growth IPRWA | high: 269.985 % median: -7.18 % mean: -10.086 % ADMA: -17.727 % low: -242.388 % |
|
| Earnings Growth | -22.727 % | |
| Earnings Growth QoQ | -148.7 % | |
| Earnings Growth YoY | 6.057 % | |
| Earnings Growth IPRWA | high: 215.789 % median: -5.479 % mean: -13.519 % ADMA: -22.727 % low: -250.0 % |
|
| MARGINS | ||
| Gross Margin | 70.528 % | |
| Gross Margin QoQ | 10.507 % | |
| Gross Margin YoY | 32.524 % | |
| Gross Margin IPRWA | high: 100.0 % median: 81.912 % mean: 77.45 % ADMA: 70.528 % low: -98.223 % |
|
| EBIT Margin | 51.73 % | |
| EBIT Margin QoQ | 13.87 % | |
| EBIT Margin YoY | 67.644 % | |
| EBIT Margin IPRWA | high: 2524.194 % ADMA: 51.73 % median: 23.412 % mean: -114.803 % low: -7259.515 % |
|
| Return On Sales (ROS) | 43.928 % | |
| Return On Sales QoQ | -2.581 % | |
| Return On Sales YoY | 42.36 % | |
| Return On Sales IPRWA | high: 100.302 % ADMA: 43.928 % median: 20.658 % mean: -114.779 % low: -7394.476 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 55.7 M | |
| Free Cash Flow Yield | 1.898 % | |
| Free Cash Flow Yield QoQ | 124.35 % | |
| Free Cash Flow Yield YoY | -469.261 % | |
| Free Cash Flow Yield IPRWA | high: 11.709 % ADMA: 1.898 % median: 0.11 % mean: -0.531 % low: -48.369 % |
|
| Free Cash Growth | 61.956 % | |
| Free Cash Growth QoQ | -101.879 % | |
| Free Cash Growth YoY | -140.923 % | |
| Free Cash Growth IPRWA | high: 253.163 % ADMA: 61.956 % mean: 4.181 % median: -16.303 % low: -249.577 % |
|
| Free Cash To Net Income | 1.228 | |
| Cash Flow Margin | 45.509 % | |
| Cash Flow To Earnings | 1.15 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 7.031 % | |
| Return On Assets QoQ | -15.074 % | |
| Return On Assets YoY | 30.566 % | |
| Return On Assets IPRWA | high: 38.074 % ADMA: 7.031 % median: -8.264 % mean: -13.794 % low: -67.817 % |
|
| Return On Capital Employed (ROCE) | 10.011 % | |
| Return On Equity (ROE) | 0.116 | |
| Return On Equity QoQ | 12.257 % | |
| Return On Equity YoY | 61.18 % | |
| Return On Equity IPRWA | high: 0.797 ADMA: 0.116 median: -0.115 mean: -0.345 low: -1.265 |
|
| DuPont ROE | 10.449 % | |
| Return On Invested Capital (ROIC) | 8.003 % | |
| Return On Invested Capital QoQ | -13.237 % | |
| Return On Invested Capital YoY | 25.262 % | |
| Return On Invested Capital IPRWA | high: 41.877 % ADMA: 8.003 % median: 2.185 % mean: 0.223 % low: -51.333 % |
|