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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $139.2M, roughly 1.1× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 4.7%, a 30.7% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $-2.2M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 12.0%).
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.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
ADMA vs IIIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $159.9M |
| Net Profit | $49.4M | $7.6M |
| Gross Margin | 63.8% | 11.3% |
| Operating Margin | 45.1% | 6.0% |
| Net Margin | 35.5% | 4.7% |
| Revenue YoY | 18.4% | 23.3% |
| Net Profit YoY | -55.9% | 602.4% |
| EPS (diluted) | $0.20 | $0.39 |
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 | $159.9M | ||
| Q3 25 | $134.2M | $177.4M | ||
| Q2 25 | $122.0M | $179.9M | ||
| Q1 25 | $114.8M | $160.7M | ||
| Q4 24 | $117.5M | $129.7M | ||
| Q3 24 | $119.8M | $134.3M | ||
| Q2 24 | $107.2M | $145.8M | ||
| Q1 24 | $81.9M | $127.4M |
| Q4 25 | $49.4M | $7.6M | ||
| Q3 25 | $36.4M | $14.6M | ||
| Q2 25 | $34.2M | $15.2M | ||
| Q1 25 | $26.9M | $10.2M | ||
| Q4 24 | $111.9M | $1.1M | ||
| Q3 24 | $35.9M | $4.7M | ||
| Q2 24 | $32.1M | $6.6M | ||
| Q1 24 | $17.8M | $6.9M |
| Q4 25 | 63.8% | 11.3% | ||
| Q3 25 | 56.3% | 16.1% | ||
| Q2 25 | 55.1% | 17.1% | ||
| Q1 25 | 53.2% | 15.3% | ||
| Q4 24 | 53.9% | 7.3% | ||
| Q3 24 | 49.8% | 9.1% | ||
| Q2 24 | 53.6% | 10.6% | ||
| Q1 24 | 47.8% | 12.3% |
| Q4 25 | 45.1% | 6.0% | ||
| Q3 25 | 38.0% | 10.8% | ||
| Q2 25 | 35.1% | 11.0% | ||
| Q1 25 | 30.4% | 8.3% | ||
| Q4 24 | 32.6% | 1.1% | ||
| Q3 24 | 33.1% | 4.5% | ||
| Q2 24 | 36.6% | 6.0% | ||
| Q1 24 | 26.7% | 7.0% |
| Q4 25 | 35.5% | 4.7% | ||
| Q3 25 | 27.1% | 8.2% | ||
| Q2 25 | 28.1% | 8.4% | ||
| Q1 25 | 23.4% | 6.4% | ||
| Q4 24 | 95.2% | 0.8% | ||
| Q3 24 | 30.0% | 3.5% | ||
| Q2 24 | 29.9% | 4.5% | ||
| Q1 24 | 21.7% | 5.4% |
| Q4 25 | $0.20 | $0.39 | ||
| Q3 25 | $0.15 | $0.74 | ||
| Q2 25 | $0.14 | $0.78 | ||
| Q1 25 | $0.11 | $0.52 | ||
| Q4 24 | $0.45 | $0.06 | ||
| Q3 24 | $0.15 | $0.24 | ||
| Q2 24 | $0.13 | $0.34 | ||
| Q1 24 | $0.08 | $0.35 |
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 | $15.6M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $358.8M |
| Total Assets | $624.2M | $456.1M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $15.6M | ||
| Q3 25 | $61.4M | $38.6M | ||
| Q2 25 | $90.3M | $53.7M | ||
| Q1 25 | $71.6M | $28.4M | ||
| Q4 24 | $103.1M | $36.0M | ||
| Q3 24 | $86.7M | $111.5M | ||
| Q2 24 | $88.2M | $97.7M | ||
| Q1 24 | $45.3M | $83.9M |
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $477.3M | $358.8M | ||
| Q3 25 | $431.2M | $371.5M | ||
| Q2 25 | $398.3M | $356.2M | ||
| Q1 25 | $373.4M | $341.4M | ||
| Q4 24 | $349.0M | $331.6M | ||
| Q3 24 | $231.9M | $350.9M | ||
| Q2 24 | $188.3M | $346.0M | ||
| Q1 24 | $153.7M | $340.6M |
| Q4 25 | $624.2M | $456.1M | ||
| Q3 25 | $568.7M | $462.6M | ||
| Q2 25 | $558.4M | $471.9M | ||
| Q1 25 | $510.6M | $421.9M | ||
| Q4 24 | $488.7M | $404.7M | ||
| Q3 24 | $390.6M | $422.6M | ||
| Q2 24 | $376.4M | $414.6M | ||
| Q1 24 | $350.9M | $397.2M |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-701.0K |
| Free Cash FlowOCF − Capex | $34.6M | $-2.2M |
| FCF MarginFCF / Revenue | 24.8% | -1.4% |
| Capex IntensityCapex / Revenue | 0.8% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.72× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $-701.0K | ||
| Q3 25 | $13.3M | $-17.0M | ||
| Q2 25 | $21.1M | $28.5M | ||
| Q1 25 | $-19.7M | $-3.3M | ||
| Q4 24 | $50.2M | $19.0M | ||
| Q3 24 | $25.0M | $16.2M | ||
| Q2 24 | $45.6M | $18.8M | ||
| Q1 24 | $-2.2M | $1.4M |
| Q4 25 | $34.6M | $-2.2M | ||
| Q3 25 | $-1.1M | $-18.7M | ||
| Q2 25 | $18.7M | $26.9M | ||
| Q1 25 | $-24.4M | $-5.5M | ||
| Q4 24 | $47.5M | $16.3M | ||
| Q3 24 | $24.0M | $14.5M | ||
| Q2 24 | $43.6M | $15.5M | ||
| Q1 24 | $-4.6M | $-580.0K |
| Q4 25 | 24.8% | -1.4% | ||
| Q3 25 | -0.8% | -10.6% | ||
| Q2 25 | 15.3% | 15.0% | ||
| Q1 25 | -21.2% | -3.5% | ||
| Q4 24 | 40.4% | 12.6% | ||
| Q3 24 | 20.0% | 10.8% | ||
| Q2 24 | 40.7% | 10.7% | ||
| Q1 24 | -5.6% | -0.5% |
| Q4 25 | 0.8% | 0.9% | ||
| Q3 25 | 10.7% | 1.0% | ||
| Q2 25 | 2.0% | 0.9% | ||
| Q1 25 | 4.1% | 1.4% | ||
| Q4 24 | 2.3% | 2.1% | ||
| Q3 24 | 0.9% | 1.3% | ||
| Q2 24 | 1.9% | 2.2% | ||
| Q1 24 | 2.9% | 1.5% |
| Q4 25 | 0.72× | -0.09× | ||
| Q3 25 | 0.36× | -1.17× | ||
| Q2 25 | 0.62× | 1.88× | ||
| Q1 25 | -0.73× | -0.32× | ||
| Q4 24 | 0.45× | 17.56× | ||
| Q3 24 | 0.70× | 3.48× | ||
| Q2 24 | 1.42× | 2.86× | ||
| Q1 24 | -0.12× | 0.20× |
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% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
