$11.17

+0.10 (+0.95%)

After Hours: $10.99 (-0.18, -1.61%)

Weekly Expected Move ±5.8%

$9 $10 $11 $11 $12

NASDAQ · Healthcare · Biotechnology · Tech Score Strong Buy · Power 74 · $2.5B mcap · 220M float · 1.29% daily turnover · Short 46% of daily vol

Credit Risk of going bust: lower than 57% of companies Debt: 7.6% of company value Bonds: none of note held by US funds details ▾

Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.10 (down 99.1%), ADMA Biologics, Inc. would be worth roughly what it owes.
Total debt $203.8M against a stock market value of $2.48B.
Distance to default 5.90 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $100.2M (short-term plus half of long-term), stock volatility 55.4%; Altman Z'' 7.73. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

54.4 / 100

NoneWeakNarrowWide

Primary source: Switching Costs · ROIC: 35.5% · 5Y Avg: -1.8%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. ADMA shows a Weak competitive edge (54.4/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Switching Costs. ROIC of 35.5% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$20

Avg Target

$20

High

Based on 5 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 1Buy: 8Hold: 1Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$20.20

Analysts5

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-07-15	Mizuho Securities	—	$24	$17	-7	+91.7%	$8.87
2026-06-10	Raymond James	Ryan Deschner	Initiated	$21	—	+158.6%	$8.12
2026-05-07	Canaccord Genuity	Gary Nachman	$21	$18	-3	+78.6%	$10.08
2026-04-20	Canaccord Genuity	—	Initiated	$21	—	+93.0%	$10.88
2026-04-13	Mizuho Securities	Anthony Petrone	$14	$24	+10	+132.3%	$10.33
2024-10-14	H.C. Wainwright	Raghuram Selvaraju	$4	$18	+14	+5.0%	$17.14
2024-06-20	Mizuho Securities	Anthony Petrone	$6	$14	+8	+31.8%	$10.62
2023-01-03	H.C. Wainwright	—	$4	$4	+0	+16.0%	$3.88
2022-11-10	Mizuho Securities	—	Initiated	$6	—	+96.7%	$3.05
2022-07-25	H.C. Wainwright	—	Initiated	$4	—	+84.3%	$2.17

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

B+

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. ADMA receives an overall rating of B+. Strongest factors: ROE (5/5), ROA (5/5). Areas of concern: DCF (1/5), D/E (2/5), P/B (2/5).

Rating Change History

Date	From	To
2026-10-20	B	B+
2026-08-14	B+	B
2026-07-16	B	B+
2026-05-18	B+	B
2026-05-14	B	B+
2026-05-12	B+	B
2026-05-11	B	B+
2026-05-07	C-	B
2026-05-06	B	C-
2026-02-26	B+	B

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 65 Grade A

Profitability

100

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. ADMA scores highest in Safety (100/100) and lowest in Growth (36/100). An overall grade of A places ADMA among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

6.66

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✗ ✗ ✗ ✓ ✓ ✓ ✗

Beneish M-Score

-2.21

Unlikely Manipulator

Ohlson O-Score

-9.54

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AAA

Score: 96.2/100

Trend: Stable

Earnings Quality

75/100

OCF/NI: 0.81x

Accruals: 5.2%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. ADMA scores 6.66, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. ADMA scores 5/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. ADMA's score of -2.21 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. ADMA's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. ADMA receives an estimated rating of AAA (score: 96.2/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). ADMA's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

15.41x

PEG

-0.89x

P/S

4.85x

P/B

6.20x

P/FCF

16.55x

P/OCF

14.10x

EV/EBITDA

8.57x

EV/Revenue

3.90x

EV/EBIT

8.86x

EV/FCF

17.14x

Earnings Yield

8.76%

FCF Yield

6.04%

Shareholder Yield

9.71%

Graham Number

$5.41

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 15.4x earnings, ADMA trades at a reasonable valuation. An earnings yield of 8.8% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $5.41 per share, 105% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.780

NI / EBT

Interest Burden

0.961

EBT / EBIT

EBIT Margin

0.440

EBIT / Rev

Asset Turnover

0.825

Rev / Assets

Equity Multiplier

1.541

Assets / Equity

ROE

41.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. ADMA's ROE of 41.9% is driven by Asset Turnover (0.825), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

$6.23

Price/Value

1.34x

Margin of Safety

-34.24%

Premium

34.24%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with ADMA's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. ADMA trades at a 34% premium to its adjusted intrinsic value of $6.23, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 15.4x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$11.17

Median 1Y

$10.23

5th Pctile

$3.49

95th Pctile

$30.43

Ann. Volatility

66.1%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Adam S. Grossman President, Chief Executive Officer and Director	$925,000	$4,049,994	$10,237,326
Kaitlin Kestenberg Operating rating Officer & Senior Vice President, Compliance	$575,000	$1,249,989	$3,488,647
Brad L. Tade Former Executive Vice President and Chief Financial Officer	$500,000	$999,988	$2,823,630
Paul Terence Kohler, Jr. Current Chief Financial Officer and Treasurer	$19,231	$1,124,988	$2,296,949

CEO Pay Ratio

72:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $10,237,326

Avg Employee Cost (SGA/emp): $141,546

Employees: 647

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

647

-5.5% YoY

Revenue / Employee

$788,521

Rev: $510,173,000

Profit / Employee

$227,094

NI: $146,930,000

SGA / Employee

$141,546

Avg labor cost proxy

R&D / Employee

$7,360

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-85.4%	-62.5%	-65.4%	-64.7%	-69.2%	-45.0%	-35.0%	-30.9%	-18.1%	-19.7%	-2.4%	20.8%	35.5%	81.6%	78.5%	71.2%	63.2%	35.6%	43.3%	41.9%	41.90%
ROA	-34.7%	-29.6%	-28.8%	-27.6%	-26.1%	-21.1%	-14.7%	-12.6%	-7.0%	-8.3%	-1.1%	9.7%	18.4%	48.3%	48.0%	44.7%	43.7%	26.4%	28.1%	27.2%	27.19%
ROIC	-29.0%	-23.9%	-22.5%	-19.1%	-16.8%	-14.1%	-8.6%	-5.6%	0.5%	7.6%	14.0%	30.9%	41.6%	66.6%	58.2%	57.2%	49.6%	32.8%	36.3%	35.5%	35.50%
ROCE	-29.8%	-23.8%	-23.5%	-21.8%	-20.9%	-15.1%	-8.4%	-5.5%	0.6%	-1.1%	6.6%	17.9%	26.2%	32.2%	33.5%	32.1%	32.0%	34.2%	36.1%	37.0%	37.03%
Gross Margin	1.9%	13.3%	12.6%	22.9%	23.5%	28.4%	29.0%	27.8%	36.6%	42.1%	47.8%	53.6%	49.8%	53.9%	53.2%	55.1%	56.3%	63.8%	70.5%	69.4%	69.36%
Operating Margin	-69.8%	-50.0%	-50.9%	-27.1%	-22.7%	-12.1%	-1.4%	-0.8%	12.9%	19.3%	26.7%	36.6%	33.1%	32.6%	30.4%	35.1%	38.0%	45.1%	43.9%	42.2%	42.16%
Net Margin	-85.7%	-63.1%	-85.9%	-40.6%	-36.3%	-24.5%	-11.9%	-10.6%	3.8%	-23.9%	21.7%	29.9%	30.0%	95.2%	23.4%	28.1%	27.1%	35.5%	39.6%	30.4%	30.40%
EBITDA Margin	-62.8%	-44.8%	-68.8%	-22.0%	-18.1%	-9.1%	2.4%	3.4%	16.4%	-12.6%	29.7%	38.9%	35.2%	33.6%	32.6%	36.1%	38.2%	46.9%	53.3%	44.6%	44.57%
FCF Margin	-1.8%	-1.6%	-1.3%	-89.9%	-76.2%	-47.7%	-33.7%	-24.7%	-10.0%	1.6%	5.7%	20.2%	20.7%	25.9%	19.7%	13.9%	8.3%	5.5%	21.2%	22.7%	22.74%
OCF Margin	-1.6%	-1.4%	-1.1%	-77.9%	-65.6%	-38.6%	-26.5%	-19.9%	-6.9%	3.4%	7.5%	22.1%	22.5%	27.8%	22.0%	16.2%	13.3%	9.9%	25.2%	26.7%	26.69%
ROE 3Y Avg	snapshot only																				37.44%
ROE 5Y Avg	snapshot only																				4.19%
ROA 3Y Avg	snapshot only																				23.78%
ROIC 3Y Avg	snapshot only																				33.43%
ROIC Economic	snapshot only																				28.08%
Cash ROA	snapshot only																				19.98%
Cash ROIC	snapshot only																				28.72%
CROIC	snapshot only																				24.47%
NOPAT Margin	snapshot only																				32.99%
Pretax Margin	snapshot only																				42.26%
R&D / Revenue	snapshot only																				2.25%
SGA / Revenue	snapshot only																				19.53%
SBC / Revenue	snapshot only																				4.47%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	-2.03	-3.56	-4.58	-5.32	-6.79	-11.94	-15.40	-20.39	-36.66	-36.17	-428.13	77.83	71.83	21.33	23.48	21.67	17.12	30.27	13.07	11.41	15.408
P/S Ratio	2.21	3.15	3.81	3.53	3.66	5.11	4.04	3.95	3.57	3.96	5.51	8.20	12.78	9.89	10.57	9.55	7.34	8.72	4.24	3.76	4.851
P/B Ratio	1.47	1.81	2.82	3.40	4.75	5.18	5.04	5.60	5.53	7.55	10.15	14.38	21.10	12.08	13.00	11.37	8.32	9.32	5.54	4.72	6.203
P/FCF	-1.21	-2.03	-3.01	-3.93	-4.80	-10.72	-12.00	-15.99	-35.61	253.61	96.73	40.63	61.64	38.18	53.56	68.83	88.07	159.88	20.04	16.55	16.553
P/OCF	—	—	—	—	—	—	—	—	—	116.08	73.24	37.08	56.87	35.54	47.96	59.02	55.20	88.26	16.85	14.10	14.101
EV/EBITDA	-3.88	-5.78	-7.36	-9.32	-12.72	-21.64	-45.30	-105.53	92.66	217.11	59.07	40.78	49.76	28.41	30.25	27.72	20.96	22.44	10.06	8.57	8.566
EV/Revenue	3.19	3.79	4.63	4.43	4.56	5.55	4.51	4.38	3.91	4.30	5.85	8.36	12.85	9.84	10.59	9.53	7.39	8.70	4.37	3.90	3.896
EV/EBIT	-3.55	-5.24	-6.69	-8.33	-11.13	-18.34	-31.97	-54.99	531.67	-345.96	84.38	46.52	54.27	30.05	31.82	29.13	21.98	23.40	10.43	8.86	8.858
EV/FCF	-1.75	-2.44	-3.66	-4.93	-5.98	-11.64	-13.41	-17.72	-38.97	275.97	102.69	41.42	61.95	37.99	53.67	68.73	88.61	159.60	20.65	17.14	17.135
Earnings Yield	-49.2%	-28.1%	-21.8%	-18.8%	-14.7%	-8.4%	-6.5%	-4.9%	-2.7%	-2.8%	-0.2%	1.3%	1.4%	4.7%	4.3%	4.6%	5.8%	3.3%	7.6%	8.8%	8.76%
FCF Yield	-82.4%	-49.4%	-33.2%	-25.5%	-20.8%	-9.3%	-8.3%	-6.3%	-2.8%	0.4%	1.0%	2.5%	1.6%	2.6%	1.9%	1.5%	1.1%	0.6%	5.0%	6.0%	6.04%
Price/Tangible Book	snapshot only																				4.771
EV/OCF	snapshot only																				14.597
EV/Gross Profit	snapshot only																				6.021
Acquirers Multiple	snapshot only																				9.218
Shareholder Yield	snapshot only																				9.71%
Graham Number	snapshot only																				$5.41

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	5.41	6.87	7.60	7.94	5.04	6.89	7.19	6.35	6.54	5.16	5.21	6.87	7.09	5.97	6.58	5.33	7.13	6.71	6.95	6.97	6.972
Quick Ratio	1.88	2.77	3.19	2.73	1.38	2.73	2.73	2.49	2.64	1.69	1.86	2.80	3.26	2.90	3.36	2.78	3.65	3.74	3.93	3.81	3.813
Debt/Equity	0.99	0.73	1.15	1.32	1.52	1.02	1.07	1.03	1.01	1.05	0.92	0.75	0.48	0.24	0.22	0.21	0.19	0.17	0.52	0.50	0.499
Net Debt/Equity	0.66	0.37	0.61	0.86	1.17	0.45	0.59	0.61	0.52	0.67	0.63	0.28	0.11	-0.06	0.03	-0.02	0.05	-0.02	0.17	0.17	0.166
Debt/Assets	0.43	0.37	0.48	0.51	0.51	0.44	0.46	0.44	0.44	0.43	0.40	0.38	0.29	0.17	0.16	0.15	0.15	0.13	0.31	0.30	0.298
Debt/EBITDA	-1.81	-1.94	-2.47	-2.89	-3.27	-3.91	-8.59	-17.56	15.48	27.62	5.04	2.09	1.13	0.56	0.51	0.51	0.48	0.40	0.92	0.87	0.875
Net Debt/EBITDA	-1.20	-0.98	-1.30	-1.89	-2.52	-1.72	-4.77	-10.31	7.98	17.59	3.43	0.79	0.25	-0.14	0.06	-0.04	0.13	-0.04	0.30	0.29	0.291
Interest Coverage	-4.79	-4.49	-4.91	-4.02	-3.17	-2.42	-1.17	-0.70	0.07	-0.13	0.87	2.94	5.25	10.02	12.60	15.23	19.63	26.69	29.52	25.53	25.530
Equity Multiplier	2.32	1.96	2.43	2.60	2.99	2.29	2.34	2.34	2.30	2.43	2.28	2.00	1.68	1.40	1.37	1.40	1.32	1.31	1.70	1.68	1.676
Cash Ratio	snapshot only																				1.795
Debt Service Coverage	snapshot only																				26.401
Cash to Debt	snapshot only																				0.667
FCF to Debt	snapshot only																				0.571
Defensive Interval	snapshot only																				871.1 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.32	0.33	0.35	0.42	0.48	0.49	0.56	0.65	0.72	0.76	0.82	0.92	1.04	1.04	1.07	1.01	1.02	0.92	0.87	0.82	0.825
Inventory Turnover	0.83	0.77	0.75	0.77	0.76	0.83	0.88	0.98	1.00	1.01	1.00	1.04	1.17	1.21	1.25	1.20	1.20	1.15	1.00	0.84	0.839
Receivables Turnover	5.13	3.87	4.59	5.19	6.32	6.99	6.98	7.48	8.97	12.03	7.44	9.88	9.40	11.02	6.16	6.78	5.20	4.90	4.33	4.13	4.132
Payables Turnover	6.02	6.79	6.66	10.79	4.98	9.26	9.88	12.87	9.00	11.72	11.39	13.55	14.55	11.53	11.53	10.14	11.05	10.17	9.60	5.88	5.881
DSO	71	94	80	70	58	52	52	49	41	30	49	37	39	33	59	54	70	75	84	88	88.3 days
DIO	441	472	487	473	478	442	414	372	367	362	363	350	313	303	293	304	304	316	364	435	434.8 days
DPO	61	54	55	34	73	39	37	28	41	31	32	27	25	32	32	36	33	36	38	62	62.1 days
Cash Conversion Cycle	452	512	512	510	462	455	429	392	367	362	380	360	326	304	321	322	341	355	411	461	461.1 days
Fixed Asset Turnover	snapshot only																				7.036
Operating Cycle	snapshot only																				523.1 days
Cash Velocity	snapshot only																				3.766
Capital Intensity	snapshot only																				1.336

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	70.0%	91.7%	95.5%	89.4%	90.4%	90.4%	93.5%	89.1%	79.6%	67.6%	55.7%	58.7%	63.4%	65.2%	62.2%	43.6%	27.6%	19.6%	11.0%	8.0%	8.04%
Net Income	-11.2%	5.4%	-4.5%	0.6%	5.5%	8.0%	39.1%	44.9%	67.5%	57.2%	92.4%	1.9%	4.0%	8.0%	57.7%	5.0%	2.1%	-25.7%	-20.0%	-19.1%	-19.13%
EPS	27.1%	49.5%	38.3%	35.5%	35.6%	18.0%	46.2%	51.4%	72.7%	61.5%	92.8%	1.8%	3.9%	7.4%	55.8%	4.9%	2.1%	-25.0%	-18.5%	-12.7%	-12.72%
FCF	-24.4%	-9.7%	3.9%	26.7%	20.2%	41.7%	48.5%	48.1%	76.4%	1.1%	1.3%	2.3%	4.4%	26.4%	4.6%	-1.3%	-48.7%	-74.8%	19.1%	77.1%	77.08%
EBITDA	-8.9%	11.2%	-2.0%	6.8%	17.0%	25.6%	69.4%	83.5%	1.2%	1.1%	2.5%	8.8%	9.0%	27.8%	4.7%	1.4%	74.2%	34.0%	37.8%	42.8%	42.84%
Op. Income	-12.4%	10.1%	8.3%	16.4%	25.5%	32.6%	56.3%	67.7%	1.0%	1.5%	2.7%	6.0%	84.7%	5.4%	2.4%	85.4%	45.4%	37.7%	36.1%	39.1%	39.10%
OCF Growth	snapshot only																				78.23%
Asset Growth	snapshot only																				22.53%
Equity Growth	snapshot only																				2.48%
Debt Growth	snapshot only																				1.43%
Shares Change	snapshot only																				-7.35%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	40.1%	68.3%	78.7%	81.6%	82.8%	73.8%	71.6%	77.4%	79.8%	82.9%	80.6%	78.5%	77.4%	74.0%	69.7%	62.7%	55.3%	49.0%	41.0%	35.0%	35.02%
Revenue 5Y	47.4%	50.0%	53.1%	55.0%	56.1%	46.6%	49.7%	52.3%	56.5%	72.3%	76.6%	78.2%	78.1%	70.8%	66.4%	66.3%	64.7%	64.6%	60.4%	54.5%	54.54%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	4.7%	2.3%	1.5%	1.2%	1.0%	86.6%	79.8%	79.79%
Gross Profit 5Y	—	-22.9%	8.0%	42.7%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	30.9%	45.9%	58.0%	27.5%	29.7%	40.0%	17.4%	21.4%	22.5%	16.6%	14.2%	17.4%	17.9%	20.9%	18.3%	23.4%	23.7%	21.5%	25.0%	25.9%	25.88%
Assets 5Y	54.1%	63.4%	77.3%	28.5%	32.8%	26.4%	30.2%	23.8%	26.8%	29.9%	35.0%	21.3%	23.2%	30.9%	19.4%	23.9%	24.5%	24.6%	23.1%	24.1%	24.06%
Equity 3Y	40.3%	92.6%	1.3%	34.6%	40.6%	79.7%	14.8%	24.1%	28.5%	15.3%	11.0%	19.0%	31.2%	35.2%	43.3%	51.6%	62.6%	46.4%	38.9%	40.6%	40.63%
Book Value 3Y	-1.4%	22.3%	44.1%	-13.4%	-5.7%	19.3%	-20.5%	-9.5%	-7.3%	-13.2%	-12.6%	-3.9%	7.2%	22.0%	33.0%	40.1%	51.1%	37.7%	35.3%	39.1%	39.06%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.80	0.79	0.80	0.79	0.78	0.73	0.74	0.76	0.79	0.84	0.87	0.87	0.87	0.87	0.88	0.92	0.95	0.96	0.97	0.98	0.978
Earnings Stability	0.88	0.73	0.79	0.71	0.75	0.42	0.02	0.05	0.16	0.17	0.36	0.48	0.54	0.48	0.58	0.68	0.77	0.73	0.79	0.84	0.842
Margin Stability	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.094
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.00	0.50	0.00	0.50	0.50	1.00	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1
Earnings Persistence	0.96	0.98	0.98	1.00	0.98	0.97	0.84	0.82	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.92	0.923
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.00	0.00	0.71	0.78	0.79	0.788
ROE Trend	0.52	0.84	-0.00	0.09	0.13	0.25	0.31	0.37	0.56	0.26	0.45	0.64	0.72	0.89	0.73	0.57	0.41	0.13	0.16	0.06	0.059
Gross Margin Trend	0.47	0.41	0.37	0.39	0.41	0.45	0.38	0.29	0.27	0.22	0.23	0.25	0.24	0.23	0.20	0.16	0.15	0.14	0.15	0.15	0.151
FCF Margin Trend	1.26	1.17	1.30	1.59	1.39	1.66	1.58	1.36	1.19	1.03	0.86	0.77	0.64	0.49	0.34	0.16	0.03	-0.08	0.08	0.06	0.057
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	20.8%	35.5%	81.6%	78.5%	71.2%	63.2%	35.6%	43.3%	41.9%	41.90%
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	10.7%	22.6%	93.6%	92.3%	80.8%	77.5%	35.9%	39.1%	37.4%	37.35%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	1.49	1.57	1.34	1.17	1.22	0.90	1.01	1.03	0.71	-0.31	-5.85	2.10	1.26	0.60	0.49	0.37	0.31	0.34	0.78	0.81	0.809
FCF/OCF	1.12	1.12	1.13	1.15	1.16	1.23	1.27	1.24	1.45	0.46	0.76	0.91	0.92	0.93	0.90	0.86	0.63	0.55	0.84	0.85	0.852
FCF/Net Income	snapshot only																				0.689
OCF/EBITDA	snapshot only																				0.587
CapEx/Revenue	19.6%	16.7%	14.7%	12.0%	10.6%	9.0%	7.2%	4.8%	3.1%	1.8%	1.8%	1.9%	1.7%	1.9%	2.3%	2.3%	5.0%	4.4%	4.0%	4.0%	3.95%
CapEx/Depreciation	snapshot only																				2.634
Accruals Ratio	0.17	0.17	0.10	0.05	0.06	-0.02	0.00	0.00	-0.02	-0.11	-0.07	-0.11	-0.05	0.19	0.25	0.28	0.30	0.17	0.06	0.05	0.052
Sloan Accruals	snapshot only																				0.193
Cash Flow Adequacy	snapshot only																				6.751
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	9.7%	4.7%	1.9%	4.1%	3.8%	14.8%	26.7%	98.1%	1.1%	1.11%
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.1%	0.2%	0.1%	0.2%	0.1%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.2%	0.2%	0.9%	0.9%	7.5%	9.7%	9.71%
Net Buyback Yield	-65.6%	-47.5%	-22.1%	-15.9%	-11.1%	-8.1%	-8.6%	-7.8%	-7.7%	0.0%	0.1%	0.1%	-0.1%	-0.0%	0.1%	0.0%	0.8%	0.8%	7.3%	9.6%	9.63%
Total Shareholder Return	-65.6%	-47.5%	-22.1%	-15.9%	-11.1%	-8.1%	-8.6%	-7.8%	-7.7%	0.0%	0.1%	0.1%	-0.1%	-0.0%	0.1%	0.0%	0.8%	0.8%	7.3%	9.6%	9.63%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.20	0.89	0.93	1.57	1.47	1.44	1.34	0.80	0.80	0.78	0.780
Interest Burden (EBT/EBIT)	1.21	1.22	1.20	1.25	1.32	1.41	1.86	2.43	-13.25	8.79	-0.16	0.66	0.81	0.90	0.92	0.93	0.95	0.96	0.97	0.96	0.961
EBIT Margin	-0.90	-0.72	-0.69	-0.53	-0.41	-0.30	-0.14	-0.08	0.01	-0.01	0.07	0.18	0.24	0.33	0.33	0.33	0.34	0.37	0.42	0.44	0.440
Asset Turnover	0.32	0.33	0.35	0.42	0.48	0.49	0.56	0.65	0.72	0.76	0.82	0.92	1.04	1.04	1.07	1.01	1.02	0.92	0.87	0.82	0.825
Equity Multiplier	2.46	2.11	2.27	2.34	2.65	2.13	2.38	2.45	2.58	2.36	2.31	2.15	1.93	1.69	1.63	1.59	1.45	1.35	1.54	1.54	1.541

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$-0.56	$-0.40	$-0.40	$-0.37	$-0.36	$-0.32	$-0.21	$-0.18	$-0.10	$-0.12	$-0.02	$0.14	$0.28	$0.80	$0.85	$0.84	$0.86	$0.60	$0.69	$0.73	$0.73
Book Value/Share	$0.77	$0.78	$0.65	$0.58	$0.51	$0.75	$0.66	$0.66	$0.65	$0.60	$0.65	$0.78	$0.95	$1.42	$1.53	$1.60	$1.76	$1.96	$1.63	$1.77	$1.79
Tangible Book/Share	$0.73	$0.75	$0.62	$0.56	$0.49	$0.73	$0.64	$0.64	$0.63	$0.58	$0.63	$0.76	$0.93	$1.40	$1.51	$1.59	$1.75	$1.94	$1.61	$1.75	$1.75
Revenue/Share	$0.51	$0.45	$0.48	$0.56	$0.66	$0.76	$0.82	$0.93	$1.00	$1.14	$1.20	$1.36	$1.56	$1.73	$1.88	$1.91	$2.00	$2.09	$2.12	$2.22	$2.24
FCF/Share	$-0.93	$-0.70	$-0.61	$-0.50	$-0.51	$-0.36	$-0.28	$-0.23	$-0.10	$0.02	$0.07	$0.28	$0.32	$0.45	$0.37	$0.26	$0.17	$0.11	$0.45	$0.51	$0.51
OCF/Share	$-0.83	$-0.62	$-0.54	$-0.44	$-0.44	$-0.29	$-0.22	$-0.19	$-0.07	$0.04	$0.09	$0.30	$0.35	$0.48	$0.41	$0.31	$0.27	$0.21	$0.53	$0.59	$0.60
Cash/Share	$0.26	$0.28	$0.35	$0.27	$0.18	$0.43	$0.31	$0.28	$0.32	$0.23	$0.19	$0.36	$0.35	$0.42	$0.29	$0.36	$0.25	$0.36	$0.58	$0.59	$0.60
EBITDA/Share	$-0.42	$-0.29	$-0.30	$-0.27	$-0.24	$-0.19	$-0.08	$-0.04	$0.04	$0.02	$0.12	$0.28	$0.40	$0.60	$0.66	$0.66	$0.70	$0.81	$0.92	$1.01	$1.01
Debt/Share	$0.76	$0.57	$0.75	$0.77	$0.78	$0.76	$0.70	$0.68	$0.65	$0.63	$0.60	$0.58	$0.45	$0.33	$0.34	$0.34	$0.34	$0.33	$0.85	$0.88	$0.88
Net Debt/Share	$0.50	$0.29	$0.39	$0.50	$0.60	$0.33	$0.39	$0.40	$0.34	$0.40	$0.41	$0.22	$0.10	$-0.09	$0.04	$-0.03	$0.09	$-0.03	$0.28	$0.29	$0.29

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	6.659
Altman Z-Prime	snapshot only																				13.511
Piotroski F-Score	4	4	3	3	3	5	4	4	6	6	6	8	8	7	7	6	8	7	5	5	5
Beneish M-Score	-5.10	-2.77	-2.38	-2.60	-2.23	-2.66	-2.23	-1.66	-2.17	-2.55	-2.28	-3.00	-1.92	1.47	1.52	3.16	1.06	-0.15	-2.08	-2.21	-2.212
Ohlson O-Score	snapshot only																				-9.539
ROIC (Greenblatt)	snapshot only																				42.89%
Net-Net WC	snapshot only																				$1.09
EVA	snapshot only																				$121376153.88

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				AAA
Credit Score	26.84	27.51	26.72	27.03	24.74	39.57	39.31	39.13	38.90	41.57	61.54	79.47	87.36	92.77	92.86	95.90	98.45	99.37	96.03	96.20	96.200
Credit Grade	snapshot only																				1
Credit Trend	snapshot only																				0.303
Implied Spread (bps)	snapshot only																				50.000
Industry Credit Rank	snapshot only																				96
Sector Credit Rank	snapshot only																				92

ADMA NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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