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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and BALCHEM CORP (BCPC). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($270.7M vs $139.2M, roughly 1.9× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 14.9%, a 20.6% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs 8.1%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $33.8M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 7.5%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
ADMA vs BCPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $270.7M |
| Net Profit | $49.4M | $40.3M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 20.5% |
| Net Margin | 35.5% | 14.9% |
| Revenue YoY | 18.4% | 8.1% |
| Net Profit YoY | -55.9% | 8.7% |
| EPS (diluted) | $0.20 | $1.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $270.7M | ||
| Q4 25 | $139.2M | $263.6M | ||
| Q3 25 | $134.2M | $267.6M | ||
| Q2 25 | $122.0M | $255.5M | ||
| Q1 25 | $114.8M | $250.5M | ||
| Q4 24 | $117.5M | $240.0M | ||
| Q3 24 | $119.8M | $239.9M | ||
| Q2 24 | $107.2M | $234.1M |
| Q1 26 | — | $40.3M | ||
| Q4 25 | $49.4M | $39.2M | ||
| Q3 25 | $36.4M | $40.3M | ||
| Q2 25 | $34.2M | $38.3M | ||
| Q1 25 | $26.9M | $37.1M | ||
| Q4 24 | $111.9M | $33.6M | ||
| Q3 24 | $35.9M | $33.8M | ||
| Q2 24 | $32.1M | $32.1M |
| Q1 26 | — | — | ||
| Q4 25 | 63.8% | 35.6% | ||
| Q3 25 | 56.3% | 35.7% | ||
| Q2 25 | 55.1% | 36.4% | ||
| Q1 25 | 53.2% | 35.2% | ||
| Q4 24 | 53.9% | 36.0% | ||
| Q3 24 | 49.8% | 35.6% | ||
| Q2 24 | 53.6% | 35.5% |
| Q1 26 | — | 20.5% | ||
| Q4 25 | 45.1% | 19.8% | ||
| Q3 25 | 38.0% | 20.4% | ||
| Q2 25 | 35.1% | 20.1% | ||
| Q1 25 | 30.4% | 20.4% | ||
| Q4 24 | 32.6% | 19.8% | ||
| Q3 24 | 33.1% | 20.0% | ||
| Q2 24 | 36.6% | 19.6% |
| Q1 26 | — | 14.9% | ||
| Q4 25 | 35.5% | 14.9% | ||
| Q3 25 | 27.1% | 15.1% | ||
| Q2 25 | 28.1% | 15.0% | ||
| Q1 25 | 23.4% | 14.8% | ||
| Q4 24 | 95.2% | 14.0% | ||
| Q3 24 | 30.0% | 14.1% | ||
| Q2 24 | 29.9% | 13.7% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.20 | $1.21 | ||
| Q3 25 | $0.15 | $1.24 | ||
| Q2 25 | $0.14 | $1.17 | ||
| Q1 25 | $0.11 | $1.13 | ||
| Q4 24 | $0.45 | $1.03 | ||
| Q3 24 | $0.15 | $1.03 | ||
| Q2 24 | $0.13 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $72.9M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $1.3B |
| Total Assets | $624.2M | $1.7B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $72.9M | ||
| Q4 25 | $87.6M | $74.6M | ||
| Q3 25 | $61.4M | $65.1M | ||
| Q2 25 | $90.3M | $65.4M | ||
| Q1 25 | $71.6M | $49.9M | ||
| Q4 24 | $103.1M | $49.5M | ||
| Q3 24 | $86.7M | $73.7M | ||
| Q2 24 | $88.2M | $63.7M |
| Q1 26 | — | — | ||
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $477.3M | $1.3B | ||
| Q3 25 | $431.2M | $1.3B | ||
| Q2 25 | $398.3M | $1.3B | ||
| Q1 25 | $373.4M | $1.2B | ||
| Q4 24 | $349.0M | $1.1B | ||
| Q3 24 | $231.9M | $1.2B | ||
| Q2 24 | $188.3M | $1.1B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $624.2M | $1.7B | ||
| Q3 25 | $568.7M | $1.7B | ||
| Q2 25 | $558.4M | $1.7B | ||
| Q1 25 | $510.6M | $1.6B | ||
| Q4 24 | $488.7M | $1.6B | ||
| Q3 24 | $390.6M | $1.6B | ||
| Q2 24 | $376.4M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $35.6M | $40.1M |
| Free Cash FlowOCF − Capex | $34.6M | $33.8M |
| FCF MarginFCF / Revenue | 24.8% | 12.5% |
| Capex IntensityCapex / Revenue | 0.8% | 2.3% |
| Cash ConversionOCF / Net Profit | 0.72× | 0.99× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.1M | ||
| Q4 25 | $35.6M | $67.3M | ||
| Q3 25 | $13.3M | $65.6M | ||
| Q2 25 | $21.1M | $47.3M | ||
| Q1 25 | $-19.7M | $36.5M | ||
| Q4 24 | $50.2M | $52.3M | ||
| Q3 24 | $25.0M | $51.3M | ||
| Q2 24 | $45.6M | $45.0M |
| Q1 26 | — | $33.8M | ||
| Q4 25 | $34.6M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $18.7M | — | ||
| Q1 25 | $-24.4M | — | ||
| Q4 24 | $47.5M | — | ||
| Q3 24 | $24.0M | — | ||
| Q2 24 | $43.6M | — |
| Q1 26 | — | 12.5% | ||
| Q4 25 | 24.8% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 15.3% | — | ||
| Q1 25 | -21.2% | — | ||
| Q4 24 | 40.4% | — | ||
| Q3 24 | 20.0% | — | ||
| Q2 24 | 40.7% | — |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 0.8% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 1.9% | — |
| Q1 26 | — | 0.99× | ||
| Q4 25 | 0.72× | 1.72× | ||
| Q3 25 | 0.36× | 1.63× | ||
| Q2 25 | 0.62× | 1.23× | ||
| Q1 25 | -0.73× | 0.98× | ||
| Q4 24 | 0.45× | 1.56× | ||
| Q3 24 | 0.70× | 1.52× | ||
| Q2 24 | 1.42× | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
BCPC
Segment breakdown not available.
