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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and PATHWARD FINANCIAL, INC. (CASH). Click either name above to swap in a different company.
PATHWARD FINANCIAL, INC. is the larger business by last-quarter revenue ($173.1M vs $139.2M, roughly 1.2× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 20.3%, a 15.2% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs -0.2%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $34.6M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs -18.0%).
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.
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
ADMA vs CASH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $173.1M |
| Net Profit | $49.4M | $35.2M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 24.6% |
| Net Margin | 35.5% | 20.3% |
| Revenue YoY | 18.4% | -0.2% |
| Net Profit YoY | -55.9% | 11.9% |
| EPS (diluted) | $0.20 | $1.57 |
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.
| Q4 25 | $139.2M | $173.1M | ||
| Q3 25 | $134.2M | $186.7M | ||
| Q2 25 | $122.0M | $195.8M | ||
| Q1 25 | $114.8M | $274.8M | ||
| Q4 24 | $117.5M | $182.6M | ||
| Q3 24 | $119.8M | $179.5M | ||
| Q2 24 | $107.2M | $188.6M | ||
| Q1 24 | $81.9M | $257.6M |
| Q4 25 | $49.4M | $35.2M | ||
| Q3 25 | $36.4M | $38.8M | ||
| Q2 25 | $34.2M | $42.1M | ||
| Q1 25 | $26.9M | $75.0M | ||
| Q4 24 | $111.9M | $30.0M | ||
| Q3 24 | $35.9M | $33.5M | ||
| Q2 24 | $32.1M | $44.9M | ||
| Q1 24 | $17.8M | $69.9M |
| 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 24 | 47.8% | — |
| Q4 25 | 45.1% | 24.6% | ||
| Q3 25 | 38.0% | 25.9% | ||
| Q2 25 | 35.1% | 24.1% | ||
| Q1 25 | 30.4% | 33.2% | ||
| Q4 24 | 32.6% | 19.8% | ||
| Q3 24 | 33.1% | 20.9% | ||
| Q2 24 | 36.6% | 27.1% | ||
| Q1 24 | 26.7% | 33.8% |
| Q4 25 | 35.5% | 20.3% | ||
| Q3 25 | 27.1% | 20.8% | ||
| Q2 25 | 28.1% | 21.5% | ||
| Q1 25 | 23.4% | 27.3% | ||
| Q4 24 | 95.2% | 16.4% | ||
| Q3 24 | 30.0% | 18.7% | ||
| Q2 24 | 29.9% | 23.8% | ||
| Q1 24 | 21.7% | 27.1% |
| Q4 25 | $0.20 | $1.57 | ||
| Q3 25 | $0.15 | $1.69 | ||
| Q2 25 | $0.14 | $1.81 | ||
| Q1 25 | $0.11 | $3.14 | ||
| Q4 24 | $0.45 | $1.23 | ||
| Q3 24 | $0.15 | $1.34 | ||
| Q2 24 | $0.13 | $1.78 | ||
| Q1 24 | $0.08 | $2.74 |
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 | $331.2M |
| Total DebtLower is stronger | $72.1M | $33.5M |
| Stockholders' EquityBook value | $477.3M | $854.5M |
| Total Assets | $624.2M | $7.6B |
| Debt / EquityLower = less leverage | 0.15× | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $331.2M | ||
| Q3 25 | $61.4M | $120.6M | ||
| Q2 25 | $90.3M | $258.3M | ||
| Q1 25 | $71.6M | $254.2M | ||
| Q4 24 | $103.1M | $597.4M | ||
| Q3 24 | $86.7M | $158.3M | ||
| Q2 24 | $88.2M | $298.9M | ||
| Q1 24 | $45.3M | $347.9M |
| Q4 25 | $72.1M | $33.5M | ||
| Q3 25 | $72.4M | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | $72.3M | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $33.4M |
| Q4 25 | $477.3M | $854.5M | ||
| Q3 25 | $431.2M | $858.0M | ||
| Q2 25 | $398.3M | $819.0M | ||
| Q1 25 | $373.4M | $814.7M | ||
| Q4 24 | $349.0M | $758.3M | ||
| Q3 24 | $231.9M | $822.5M | ||
| Q2 24 | $188.3M | $748.4M | ||
| Q1 24 | $153.7M | $719.5M |
| Q4 25 | $624.2M | $7.6B | ||
| Q3 25 | $568.7M | $7.2B | ||
| Q2 25 | $558.4M | $7.2B | ||
| Q1 25 | $510.6M | $7.0B | ||
| Q4 24 | $488.7M | $7.6B | ||
| Q3 24 | $390.6M | $7.5B | ||
| Q2 24 | $376.4M | $7.5B | ||
| Q1 24 | $350.9M | $7.4B |
| Q4 25 | 0.15× | 0.04× | ||
| Q3 25 | 0.17× | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | 0.21× | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× | ||
| Q1 24 | — | 0.05× |
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 | $108.3M |
| Free Cash FlowOCF − Capex | $34.6M | $104.1M |
| FCF MarginFCF / Revenue | 24.8% | 60.1% |
| Capex IntensityCapex / Revenue | 0.8% | 2.4% |
| Cash ConversionOCF / Net Profit | 0.72× | 3.08× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $616.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $108.3M | ||
| Q3 25 | $13.3M | $303.7M | ||
| Q2 25 | $21.1M | $30.4M | ||
| Q1 25 | $-19.7M | $188.3M | ||
| Q4 24 | $50.2M | $-71.7M | ||
| Q3 24 | $25.0M | $143.1M | ||
| Q2 24 | $45.6M | $113.2M | ||
| Q1 24 | $-2.2M | $203.0M |
| Q4 25 | $34.6M | $104.1M | ||
| Q3 25 | $-1.1M | $300.3M | ||
| Q2 25 | $18.7M | $27.7M | ||
| Q1 25 | $-24.4M | $184.7M | ||
| Q4 24 | $47.5M | $-73.8M | ||
| Q3 24 | $24.0M | $138.8M | ||
| Q2 24 | $43.6M | $111.0M | ||
| Q1 24 | $-4.6M | $201.3M |
| Q4 25 | 24.8% | 60.1% | ||
| Q3 25 | -0.8% | 160.9% | ||
| Q2 25 | 15.3% | 14.1% | ||
| Q1 25 | -21.2% | 67.2% | ||
| Q4 24 | 40.4% | -40.4% | ||
| Q3 24 | 20.0% | 77.3% | ||
| Q2 24 | 40.7% | 58.8% | ||
| Q1 24 | -5.6% | 78.1% |
| Q4 25 | 0.8% | 2.4% | ||
| Q3 25 | 10.7% | 1.8% | ||
| Q2 25 | 2.0% | 1.4% | ||
| Q1 25 | 4.1% | 1.3% | ||
| Q4 24 | 2.3% | 1.1% | ||
| Q3 24 | 0.9% | 2.4% | ||
| Q2 24 | 1.9% | 1.2% | ||
| Q1 24 | 2.9% | 0.7% |
| Q4 25 | 0.72× | 3.08× | ||
| Q3 25 | 0.36× | 7.83× | ||
| Q2 25 | 0.62× | 0.72× | ||
| Q1 25 | -0.73× | 2.51× | ||
| Q4 24 | 0.45× | -2.39× | ||
| Q3 24 | 0.70× | 4.27× | ||
| Q2 24 | 1.42× | 2.52× | ||
| Q1 24 | -0.12× | 2.90× |
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% |
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
