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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $113.9M, roughly 1.2× Industrial Logistics Properties Trust). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs -1.6%, a 37.0% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $34.6M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 0.7%).
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.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
ADMA vs ILPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $113.9M |
| Net Profit | $49.4M | $-1.8M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | -22.1% |
| Net Margin | 35.5% | -1.6% |
| Revenue YoY | 18.4% | 3.1% |
| Net Profit YoY | -55.9% | 92.6% |
| EPS (diluted) | $0.20 | $-0.02 |
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 | $113.9M | ||
| Q3 25 | $134.2M | $110.9M | ||
| Q2 25 | $122.0M | $112.1M | ||
| Q1 25 | $114.8M | $111.9M | ||
| Q4 24 | $117.5M | $110.5M | ||
| Q3 24 | $119.8M | $108.9M | ||
| Q2 24 | $107.2M | $110.6M | ||
| Q1 24 | $81.9M | $112.2M |
| Q4 25 | $49.4M | $-1.8M | ||
| Q3 25 | $36.4M | $-21.6M | ||
| Q2 25 | $34.2M | $-21.3M | ||
| Q1 25 | $26.9M | $-21.5M | ||
| Q4 24 | $111.9M | $-24.1M | ||
| Q3 24 | $35.9M | $-25.0M | ||
| Q2 24 | $32.1M | $-23.2M | ||
| Q1 24 | $17.8M | $-23.4M |
| 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% | -22.1% | ||
| Q3 25 | 38.0% | -29.4% | ||
| Q2 25 | 35.1% | -30.8% | ||
| Q1 25 | 30.4% | -26.9% | ||
| Q4 24 | 32.6% | -31.1% | ||
| Q3 24 | 33.1% | -33.5% | ||
| Q2 24 | 36.6% | -32.4% | ||
| Q1 24 | 26.7% | -31.7% |
| Q4 25 | 35.5% | -1.6% | ||
| Q3 25 | 27.1% | -19.4% | ||
| Q2 25 | 28.1% | -19.0% | ||
| Q1 25 | 23.4% | -19.2% | ||
| Q4 24 | 95.2% | -21.8% | ||
| Q3 24 | 30.0% | -22.9% | ||
| Q2 24 | 29.9% | -20.9% | ||
| Q1 24 | 21.7% | -20.9% |
| Q4 25 | $0.20 | $-0.02 | ||
| Q3 25 | $0.15 | $-0.33 | ||
| Q2 25 | $0.14 | $-0.32 | ||
| Q1 25 | $0.11 | $-0.33 | ||
| Q4 24 | $0.45 | $-0.37 | ||
| Q3 24 | $0.15 | $-0.38 | ||
| Q2 24 | $0.13 | $-0.35 | ||
| Q1 24 | $0.08 | $-0.36 |
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 | $94.8M |
| Total DebtLower is stronger | $72.1M | $4.2B |
| Stockholders' EquityBook value | $477.3M | $489.7M |
| Total Assets | $624.2M | $5.2B |
| Debt / EquityLower = less leverage | 0.15× | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $94.8M | ||
| Q3 25 | $61.4M | $83.2M | ||
| Q2 25 | $90.3M | $58.6M | ||
| Q1 25 | $71.6M | $108.0M | ||
| Q4 24 | $103.1M | $131.7M | ||
| Q3 24 | $86.7M | $153.9M | ||
| Q2 24 | $88.2M | $146.2M | ||
| Q1 24 | $45.3M | $128.4M |
| Q4 25 | $72.1M | $4.2B | ||
| Q3 25 | $72.4M | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $72.3M | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
| Q4 25 | $477.3M | $489.7M | ||
| Q3 25 | $431.2M | $494.1M | ||
| Q2 25 | $398.3M | $519.1M | ||
| Q1 25 | $373.4M | $539.5M | ||
| Q4 24 | $349.0M | $562.0M | ||
| Q3 24 | $231.9M | $585.9M | ||
| Q2 24 | $188.3M | $618.3M | ||
| Q1 24 | $153.7M | $643.2M |
| Q4 25 | $624.2M | $5.2B | ||
| Q3 25 | $568.7M | $5.2B | ||
| Q2 25 | $558.4M | $5.2B | ||
| Q1 25 | $510.6M | $5.4B | ||
| Q4 24 | $488.7M | $5.4B | ||
| Q3 24 | $390.6M | $5.5B | ||
| Q2 24 | $376.4M | $5.5B | ||
| Q1 24 | $350.9M | $5.5B |
| Q4 25 | 0.15× | 8.56× | ||
| Q3 25 | 0.17× | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | 0.21× | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× | ||
| Q1 24 | — | 6.70× |
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 | $60.7M |
| Free Cash FlowOCF − Capex | $34.6M | $42.0M |
| FCF MarginFCF / Revenue | 24.8% | 36.9% |
| Capex IntensityCapex / Revenue | 0.8% | 16.4% |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $60.7M | ||
| Q3 25 | $13.3M | $22.7M | ||
| Q2 25 | $21.1M | $18.4M | ||
| Q1 25 | $-19.7M | $11.4M | ||
| Q4 24 | $50.2M | $2.0M | ||
| Q3 24 | $25.0M | $-3.4M | ||
| Q2 24 | $45.6M | $10.8M | ||
| Q1 24 | $-2.2M | $8.0M |
| Q4 25 | $34.6M | $42.0M | ||
| Q3 25 | $-1.1M | $17.6M | ||
| Q2 25 | $18.7M | $15.2M | ||
| Q1 25 | $-24.4M | $5.0M | ||
| Q4 24 | $47.5M | $-3.7M | ||
| Q3 24 | $24.0M | $-5.9M | ||
| Q2 24 | $43.6M | $9.4M | ||
| Q1 24 | $-4.6M | $5.9M |
| Q4 25 | 24.8% | 36.9% | ||
| Q3 25 | -0.8% | 15.9% | ||
| Q2 25 | 15.3% | 13.5% | ||
| Q1 25 | -21.2% | 4.5% | ||
| Q4 24 | 40.4% | -3.4% | ||
| Q3 24 | 20.0% | -5.5% | ||
| Q2 24 | 40.7% | 8.5% | ||
| Q1 24 | -5.6% | 5.2% |
| Q4 25 | 0.8% | 16.4% | ||
| Q3 25 | 10.7% | 4.6% | ||
| Q2 25 | 2.0% | 2.9% | ||
| Q1 25 | 4.1% | 5.7% | ||
| Q4 24 | 2.3% | 5.2% | ||
| Q3 24 | 0.9% | 2.3% | ||
| Q2 24 | 1.9% | 1.3% | ||
| Q1 24 | 2.9% | 1.9% |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | — | ||
| Q1 24 | -0.12× | — |
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% |
ILPT
Segment breakdown not available.
