ADMA Biologics vs Repligen
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The short version
- Repligen is the larger business, with $738M of revenue in fiscal 2025 against $510M for ADMA Biologics.
- ADMA Biologics grew revenue faster (19.6%, against 16.4%).
- ADMA Biologics kept more of each dollar of sales as operating profit (37.5% operating margin, against 7.5%).
- Repligen turned more of its sales into free cash flow (12.7% FCF margin, against 5.5%).
- ADMA Biologics earned a higher return on the capital invested in it (39.5%, against 2.4%).
| Latest fiscal year | ADMA · FY25 | RGEN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.5B | — |
| Revenue | $510M | $738M |
| Free cash flow | $27.8M | $93.9M |
| Net income | $147M | $48.9M |
| Growth | ||
| Revenue growth | 19.6% | 16.4% |
| 5-year growth | 64.6% | 15.1% |
| Share count change | 0.6% | — |
| Profitability | ||
| Gross margin | 57.4% | 52.3% |
| Operating margin | 37.5% | 7.5% |
| Net margin | 28.8% | 6.6% |
| FCF margin | 5.5% | 12.7% |
| Return on capital | 39.5% | 2.4% |
| Return on equity | 35.6% | 2.4% |
| Balance sheet | ||
| Net debt | −$15.5M | −$225M |
| Net debt / EBITDA | −0.1x | −1.7x |
| Dividends and buybacks | $31.9M | $0.0M |
| Valuation & quality | ||
| P/E | 15.3x | — |
| Piotroski F-score | 5 | — |
Revenue
FY16
ADMA $10.7M
RGEN $105M
FY17
ADMA $22.8M
RGEN $141M
FY18
ADMA $17.0M
RGEN $194M
FY19
ADMA $29.3M
RGEN $270M
FY20
ADMA $42.2M
RGEN $366M
FY21
ADMA $80.9M
RGEN $671M
FY22
ADMA $154M
RGEN $802M
FY23
ADMA $258M
RGEN $632M
FY24
ADMA $427M
RGEN $634M
FY25
ADMA $510M
RGEN $738M
ADMA
RGEN
Operating margin
FY16
ADMA −162.6%
RGEN 15.3%
FY17
ADMA −172.7%
RGEN 9.9%
FY18
ADMA −355.0%
RGEN 13.4%
FY19
ADMA −141.1%
RGEN 13.4%
FY20
ADMA −153.8%
RGEN 19.1%
FY21
ADMA −72.1%
RGEN 24.9%
FY22
ADMA −25.6%
RGEN 28.0%
FY23
ADMA 8.4%
RGEN 7.5%
FY24
ADMA 32.6%
RGEN −5.5%
FY25
ADMA 37.5%
RGEN 7.5%
ADMA
RGEN
Free cash flow
FY16
ADMA −$18.3M
RGEN $3.2M
FY17
ADMA −$40.0M
RGEN $12.0M
FY18
ADMA −$64.8M
RGEN $22.1M
FY19
ADMA −$80.0M
RGEN $48.7M
FY20
ADMA −$115M
RGEN $40.2M
FY21
ADMA −$126M
RGEN $51.9M
FY22
ADMA −$73.4M
RGEN $87.3M
FY23
ADMA $4.0M
RGEN $77.7M
FY24
ADMA $110M
RGEN $150M
FY25
ADMA $27.8M
RGEN $93.9M
ADMA
RGEN
Return on capital
FY16
ADMA —
RGEN 15.2%
FY17
ADMA —
RGEN 4.3%
FY18
ADMA —
RGEN 3.9%
FY19
ADMA —
RGEN 4.6%
FY20
ADMA −82.2%
RGEN 7.7%
FY21
ADMA −29.7%
RGEN 11.4%
FY22
ADMA −15.8%
RGEN 12.4%
FY23
ADMA 8.1%
RGEN 1.7%
FY24
ADMA 52.2%
RGEN −1.6%
FY25
ADMA 39.5%
RGEN 2.4%
ADMA
RGEN
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.