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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and CSW INDUSTRIALS, INC. (CSW). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $139.2M, roughly 1.7× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 4.4%, a 31.1% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $22.7M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 5.1%).
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.
ADMA vs CSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $233.0M |
| Net Profit | $49.4M | $10.3M |
| Gross Margin | 63.8% | 39.7% |
| Operating Margin | 45.1% | 7.4% |
| Net Margin | 35.5% | 4.4% |
| Revenue YoY | 18.4% | 20.3% |
| Net Profit YoY | -55.9% | -61.9% |
| EPS (diluted) | $0.20 | $0.62 |
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 | $233.0M | ||
| Q3 25 | $134.2M | $277.0M | ||
| Q2 25 | $122.0M | $263.6M | ||
| Q1 25 | $114.8M | $230.5M | ||
| Q4 24 | $117.5M | $193.6M | ||
| Q3 24 | $119.8M | $227.9M | ||
| Q2 24 | $107.2M | $226.2M | ||
| Q1 24 | $81.9M | $210.9M |
| Q4 25 | $49.4M | $10.3M | ||
| Q3 25 | $36.4M | $40.7M | ||
| Q2 25 | $34.2M | $40.9M | ||
| Q1 25 | $26.9M | $35.1M | ||
| Q4 24 | $111.9M | $26.9M | ||
| Q3 24 | $35.9M | $36.1M | ||
| Q2 24 | $32.1M | $38.6M | ||
| Q1 24 | $17.8M | $31.8M |
| Q4 25 | 63.8% | 39.7% | ||
| Q3 25 | 56.3% | 43.0% | ||
| Q2 25 | 55.1% | 43.8% | ||
| Q1 25 | 53.2% | 44.2% | ||
| Q4 24 | 53.9% | 41.4% | ||
| Q3 24 | 49.8% | 45.6% | ||
| Q2 24 | 53.6% | 47.5% | ||
| Q1 24 | 47.8% | 44.4% |
| Q4 25 | 45.1% | 7.4% | ||
| Q3 25 | 38.0% | 20.5% | ||
| Q2 25 | 35.1% | 20.8% | ||
| Q1 25 | 30.4% | 19.5% | ||
| Q4 24 | 32.6% | 15.3% | ||
| Q3 24 | 33.1% | 22.6% | ||
| Q2 24 | 36.6% | 24.3% | ||
| Q1 24 | 26.7% | 21.0% |
| Q4 25 | 35.5% | 4.4% | ||
| Q3 25 | 27.1% | 14.7% | ||
| Q2 25 | 28.1% | 15.5% | ||
| Q1 25 | 23.4% | 15.2% | ||
| Q4 24 | 95.2% | 13.9% | ||
| Q3 24 | 30.0% | 15.8% | ||
| Q2 24 | 29.9% | 17.1% | ||
| Q1 24 | 21.7% | 15.1% |
| Q4 25 | $0.20 | $0.62 | ||
| Q3 25 | $0.15 | $2.41 | ||
| Q2 25 | $0.14 | $2.43 | ||
| Q1 25 | $0.11 | $2.05 | ||
| Q4 24 | $0.45 | $1.60 | ||
| Q3 24 | $0.15 | $2.26 | ||
| Q2 24 | $0.13 | $2.47 | ||
| Q1 24 | $0.08 | $2.03 |
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 | $40.2M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $1.1B |
| Total Assets | $624.2M | $2.3B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $40.2M | ||
| Q3 25 | $61.4M | $31.5M | ||
| Q2 25 | $90.3M | $38.0M | ||
| Q1 25 | $71.6M | $225.8M | ||
| Q4 24 | $103.1M | $213.8M | ||
| Q3 24 | $86.7M | $273.2M | ||
| Q2 24 | $88.2M | $18.9M | ||
| Q1 24 | $45.3M | $22.2M |
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $166.0M |
| Q4 25 | $477.3M | $1.1B | ||
| Q3 25 | $431.2M | $1.1B | ||
| Q2 25 | $398.3M | $1.1B | ||
| Q1 25 | $373.4M | $1.1B | ||
| Q4 24 | $349.0M | $1.0B | ||
| Q3 24 | $231.9M | $1.0B | ||
| Q2 24 | $188.3M | $650.2M | ||
| Q1 24 | $153.7M | $615.7M |
| Q4 25 | $624.2M | $2.3B | ||
| Q3 25 | $568.7M | $1.5B | ||
| Q2 25 | $558.4M | $1.5B | ||
| Q1 25 | $510.6M | $1.4B | ||
| Q4 24 | $488.7M | $1.4B | ||
| Q3 24 | $390.6M | $1.4B | ||
| Q2 24 | $376.4M | $1.1B | ||
| Q1 24 | $350.9M | $1.0B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.27× |
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 | $28.9M |
| Free Cash FlowOCF − Capex | $34.6M | $22.7M |
| FCF MarginFCF / Revenue | 24.8% | 9.8% |
| Capex IntensityCapex / Revenue | 0.8% | 2.6% |
| Cash ConversionOCF / Net Profit | 0.72× | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $28.9M | ||
| Q3 25 | $13.3M | $61.8M | ||
| Q2 25 | $21.1M | $60.6M | ||
| Q1 25 | $-19.7M | $27.3M | ||
| Q4 24 | $50.2M | $11.6M | ||
| Q3 24 | $25.0M | $66.8M | ||
| Q2 24 | $45.6M | $62.7M | ||
| Q1 24 | $-2.2M | $22.4M |
| Q4 25 | $34.6M | $22.7M | ||
| Q3 25 | $-1.1M | $58.7M | ||
| Q2 25 | $18.7M | $57.7M | ||
| Q1 25 | $-24.4M | $22.8M | ||
| Q4 24 | $47.5M | $8.5M | ||
| Q3 24 | $24.0M | $61.3M | ||
| Q2 24 | $43.6M | $59.6M | ||
| Q1 24 | $-4.6M | $17.5M |
| Q4 25 | 24.8% | 9.8% | ||
| Q3 25 | -0.8% | 21.2% | ||
| Q2 25 | 15.3% | 21.9% | ||
| Q1 25 | -21.2% | 9.9% | ||
| Q4 24 | 40.4% | 4.4% | ||
| Q3 24 | 20.0% | 26.9% | ||
| Q2 24 | 40.7% | 26.3% | ||
| Q1 24 | -5.6% | 8.3% |
| Q4 25 | 0.8% | 2.6% | ||
| Q3 25 | 10.7% | 1.1% | ||
| Q2 25 | 2.0% | 1.1% | ||
| Q1 25 | 4.1% | 2.0% | ||
| Q4 24 | 2.3% | 1.6% | ||
| Q3 24 | 0.9% | 2.4% | ||
| Q2 24 | 1.9% | 1.4% | ||
| Q1 24 | 2.9% | 2.3% |
| Q4 25 | 0.72× | 2.81× | ||
| Q3 25 | 0.36× | 1.52× | ||
| Q2 25 | 0.62× | 1.48× | ||
| Q1 25 | -0.73× | 0.78× | ||
| Q4 24 | 0.45× | 0.43× | ||
| Q3 24 | 0.70× | 1.85× | ||
| Q2 24 | 1.42× | 1.62× | ||
| Q1 24 | -0.12× | 0.71× |
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% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
