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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and Broadstone Net Lease, Inc. (BNL). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $121.4M, roughly 1.1× Broadstone Net Lease, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs 35.5%, a 2.7% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs 11.7%). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 7.1%).
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.
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
ADMA vs BNL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $121.4M |
| Net Profit | $49.4M | $46.4M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 52.2% |
| Net Margin | 35.5% | 38.2% |
| Revenue YoY | 18.4% | 11.7% |
| Net Profit YoY | -55.9% | — |
| EPS (diluted) | $0.20 | $0.24 |
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 | — | $121.4M | ||
| Q4 25 | $139.2M | $118.3M | ||
| Q3 25 | $134.2M | $114.2M | ||
| Q2 25 | $122.0M | $113.0M | ||
| Q1 25 | $114.8M | $108.7M | ||
| Q4 24 | $117.5M | $112.1M | ||
| Q3 24 | $119.8M | $108.4M | ||
| Q2 24 | $107.2M | $105.9M |
| Q1 26 | — | $46.4M | ||
| Q4 25 | $49.4M | $33.1M | ||
| Q3 25 | $36.4M | $26.5M | ||
| Q2 25 | $34.2M | $20.2M | ||
| Q1 25 | $26.9M | $16.7M | ||
| Q4 24 | $111.9M | $26.4M | ||
| Q3 24 | $35.9M | $35.6M | ||
| Q2 24 | $32.1M | $35.3M |
| Q1 26 | — | — | ||
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — |
| Q1 26 | — | 52.2% | ||
| Q4 25 | 45.1% | — | ||
| Q3 25 | 38.0% | — | ||
| Q2 25 | 35.1% | — | ||
| Q1 25 | 30.4% | — | ||
| Q4 24 | 32.6% | — | ||
| Q3 24 | 33.1% | — | ||
| Q2 24 | 36.6% | — |
| Q1 26 | — | 38.2% | ||
| Q4 25 | 35.5% | 28.0% | ||
| Q3 25 | 27.1% | 23.2% | ||
| Q2 25 | 28.1% | 17.8% | ||
| Q1 25 | 23.4% | 15.4% | ||
| Q4 24 | 95.2% | 23.5% | ||
| Q3 24 | 30.0% | 32.8% | ||
| Q2 24 | 29.9% | 33.4% |
| Q1 26 | — | $0.24 | ||
| Q4 25 | $0.20 | $0.17 | ||
| Q3 25 | $0.15 | $0.14 | ||
| Q2 25 | $0.14 | $0.10 | ||
| Q1 25 | $0.11 | $0.09 | ||
| Q4 24 | $0.45 | $0.13 | ||
| Q3 24 | $0.15 | $0.19 | ||
| Q2 24 | $0.13 | $0.19 |
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 | $20.3M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $3.0B |
| Total Assets | $624.2M | $5.8B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $20.3M | ||
| Q4 25 | $87.6M | $30.5M | ||
| Q3 25 | $61.4M | $82.0M | ||
| Q2 25 | $90.3M | $20.8M | ||
| Q1 25 | $71.6M | $9.6M | ||
| Q4 24 | $103.1M | $14.8M | ||
| Q3 24 | $86.7M | $9.0M | ||
| Q2 24 | $88.2M | $18.3M |
| Q1 26 | — | — | ||
| Q4 25 | $72.1M | $2.5B | ||
| Q3 25 | $72.4M | $2.4B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $72.3M | $1.9B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $477.3M | $2.9B | ||
| Q3 25 | $431.2M | $2.9B | ||
| Q2 25 | $398.3M | $2.9B | ||
| Q1 25 | $373.4M | $2.9B | ||
| Q4 24 | $349.0M | $3.0B | ||
| Q3 24 | $231.9M | $3.0B | ||
| Q2 24 | $188.3M | $3.1B |
| Q1 26 | — | $5.8B | ||
| Q4 25 | $624.2M | $5.7B | ||
| Q3 25 | $568.7M | $5.5B | ||
| Q2 25 | $558.4M | $5.3B | ||
| Q1 25 | $510.6M | $5.2B | ||
| Q4 24 | $488.7M | $5.2B | ||
| Q3 24 | $390.6M | $5.3B | ||
| Q2 24 | $376.4M | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | 0.87× | ||
| Q3 25 | 0.17× | 0.82× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | 0.21× | 0.64× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | 0.62× |
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 | — |
| Free Cash FlowOCF − Capex | $34.6M | — |
| FCF MarginFCF / Revenue | 24.8% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $35.6M | $299.5M | ||
| Q3 25 | $13.3M | $64.2M | ||
| Q2 25 | $21.1M | $79.3M | ||
| Q1 25 | $-19.7M | $71.5M | ||
| Q4 24 | $50.2M | $276.3M | ||
| Q3 24 | $25.0M | $67.3M | ||
| Q2 24 | $45.6M | $74.2M |
| Q1 26 | — | — | ||
| Q4 25 | $34.6M | $269.8M | ||
| Q3 25 | $-1.1M | $58.0M | ||
| Q2 25 | $18.7M | $76.7M | ||
| Q1 25 | $-24.4M | $57.1M | ||
| Q4 24 | $47.5M | $259.5M | ||
| Q3 24 | $24.0M | $60.3M | ||
| Q2 24 | $43.6M | $74.0M |
| Q1 26 | — | — | ||
| Q4 25 | 24.8% | 228.1% | ||
| Q3 25 | -0.8% | 50.8% | ||
| Q2 25 | 15.3% | 67.9% | ||
| Q1 25 | -21.2% | 52.5% | ||
| Q4 24 | 40.4% | 231.4% | ||
| Q3 24 | 20.0% | 55.6% | ||
| Q2 24 | 40.7% | 69.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 25.1% | ||
| Q3 25 | 10.7% | 5.4% | ||
| Q2 25 | 2.0% | 2.3% | ||
| Q1 25 | 4.1% | 13.2% | ||
| Q4 24 | 2.3% | 15.0% | ||
| Q3 24 | 0.9% | 6.5% | ||
| Q2 24 | 1.9% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | 9.04× | ||
| Q3 25 | 0.36× | 2.43× | ||
| Q2 25 | 0.62× | 3.93× | ||
| Q1 25 | -0.73× | 4.27× | ||
| Q4 24 | 0.45× | 10.47× | ||
| Q3 24 | 0.70× | 1.89× | ||
| Q2 24 | 1.42× | 2.10× |
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% |
BNL
Segment breakdown not available.
