ADMA Biologics vs Arrowhead Pharmaceuticals
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KIRAβs take AI analyst
I put ADMA Biologics and Arrowhead Pharmaceuticals side by side, using each oneβs latest annual report. Here is what stands out:
- Arrowhead Pharmaceuticals is the larger business, with $829M of revenue in fiscal 2025 against $510M for ADMA Biologics, about 1.6 times as much.
- Arrowhead Pharmaceuticals grew revenue faster (23,258.2%, against 19.6%).
- ADMA Biologics kept more of each dollar of sales as operating profit (37.5% operating margin, against 11.9%).
- Arrowhead Pharmaceuticals turned more of its sales into free cash flow (18.9% FCF margin, against 5.5%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
ADMA Biologics
ADMA
5/9
5-year growthOperating marginNet marginReturn on equityShare count change
Arrowhead Pharmaceuticals
ARWR
3/9
Revenue growthFCF marginNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | ADMA FY25 | ARWR FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.5B | $8.3B |
| Revenue | $510M | $829M |
| Free cash flow | $27.8M | $157M |
| Net income | $147M | β$1.6M |
| Growth | ||
| Revenue growth | 19.6% | 23,258.2% |
| 5-year growth | 64.6% | 56.6% |
| Share count change | 0.6% | 11.7% |
| Profitability | ||
| Gross margin | 57.4% | β |
| Operating margin | 37.5% | 11.9% |
| Net margin | 28.8% | β0.2% |
| FCF margin | 5.5% | 18.9% |
| Return on capital | 39.5% | β |
| Return on equity | 35.6% | β0.5% |
| Balance sheet | ||
| Net debt | β$15.5M | β$665M |
| Net debt / EBITDA | β0.1x | β5.5x |
| Dividends and buybacks | $31.9M | $0.0M |
| Valuation & quality | ||
| P/E | 15.3x | β |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

