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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($186.9M vs $139.2M, roughly 1.3× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 6.6%, a 28.9% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $27.9M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 25.3%).
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.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
ADMA vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $186.9M |
| Net Profit | $49.4M | $12.3M |
| Gross Margin | 63.8% | 25.7% |
| Operating Margin | 45.1% | 9.4% |
| Net Margin | 35.5% | 6.6% |
| Revenue YoY | 18.4% | 30.1% |
| Net Profit YoY | -55.9% | 25.0% |
| EPS (diluted) | $0.20 | $1.01 |
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 | $186.9M | ||
| Q3 25 | $134.2M | $184.6M | ||
| Q2 25 | $122.0M | $142.2M | ||
| Q1 25 | $114.8M | $133.1M | ||
| Q4 24 | $117.5M | $143.7M | ||
| Q3 24 | $119.8M | $133.9M | ||
| Q2 24 | $107.2M | $122.2M | ||
| Q1 24 | $81.9M | $119.0M |
| Q4 25 | $49.4M | $12.3M | ||
| Q3 25 | $36.4M | $8.8M | ||
| Q2 25 | $34.2M | $7.8M | ||
| Q1 25 | $26.9M | $10.2M | ||
| Q4 24 | $111.9M | $9.8M | ||
| Q3 24 | $35.9M | $7.5M | ||
| Q2 24 | $32.1M | $6.0M | ||
| Q1 24 | $17.8M | $7.6M |
| Q4 25 | 63.8% | 25.7% | ||
| Q3 25 | 56.3% | 24.2% | ||
| Q2 25 | 55.1% | 28.0% | ||
| Q1 25 | 53.2% | 27.6% | ||
| Q4 24 | 53.9% | 30.3% | ||
| Q3 24 | 49.8% | 27.0% | ||
| Q2 24 | 53.6% | 27.4% | ||
| Q1 24 | 47.8% | 26.1% |
| Q4 25 | 45.1% | 9.4% | ||
| Q3 25 | 38.0% | 7.2% | ||
| Q2 25 | 35.1% | 7.5% | ||
| Q1 25 | 30.4% | 5.9% | ||
| Q4 24 | 32.6% | 9.1% | ||
| Q3 24 | 33.1% | 8.1% | ||
| Q2 24 | 36.6% | 6.7% | ||
| Q1 24 | 26.7% | 5.5% |
| Q4 25 | 35.5% | 6.6% | ||
| Q3 25 | 27.1% | 4.8% | ||
| Q2 25 | 28.1% | 5.5% | ||
| Q1 25 | 23.4% | 7.7% | ||
| Q4 24 | 95.2% | 6.9% | ||
| Q3 24 | 30.0% | 5.6% | ||
| Q2 24 | 29.9% | 4.9% | ||
| Q1 24 | 21.7% | 6.4% |
| Q4 25 | $0.20 | $1.01 | ||
| Q3 25 | $0.15 | $0.73 | ||
| Q2 25 | $0.14 | $0.64 | ||
| Q1 25 | $0.11 | $0.85 | ||
| Q4 24 | $0.45 | $0.81 | ||
| Q3 24 | $0.15 | $0.62 | ||
| Q2 24 | $0.13 | $0.50 | ||
| Q1 24 | $0.08 | $0.64 |
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 | $11.3M |
| Total DebtLower is stronger | $72.1M | $30.5M |
| Stockholders' EquityBook value | $477.3M | $195.7M |
| Total Assets | $624.2M | $381.1M |
| Debt / EquityLower = less leverage | 0.15× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $11.3M | ||
| Q3 25 | $61.4M | $9.8M | ||
| Q2 25 | $90.3M | $38.9M | ||
| Q1 25 | $71.6M | $38.1M | ||
| Q4 24 | $103.1M | $44.9M | ||
| Q3 24 | $86.7M | $51.2M | ||
| Q2 24 | $88.2M | $59.5M | ||
| Q1 24 | $45.3M | $48.2M |
| Q4 25 | $72.1M | $30.5M | ||
| Q3 25 | $72.4M | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | $72.3M | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $19.4M |
| Q4 25 | $477.3M | $195.7M | ||
| Q3 25 | $431.2M | $181.6M | ||
| Q2 25 | $398.3M | $170.5M | ||
| Q1 25 | $373.4M | $161.1M | ||
| Q4 24 | $349.0M | $153.5M | ||
| Q3 24 | $231.9M | $142.2M | ||
| Q2 24 | $188.3M | $133.0M | ||
| Q1 24 | $153.7M | $125.5M |
| Q4 25 | $624.2M | $381.1M | ||
| Q3 25 | $568.7M | $409.1M | ||
| Q2 25 | $558.4M | $343.0M | ||
| Q1 25 | $510.6M | $336.4M | ||
| Q4 24 | $488.7M | $352.1M | ||
| Q3 24 | $390.6M | $324.4M | ||
| Q2 24 | $376.4M | $303.9M | ||
| Q1 24 | $350.9M | $289.2M |
| Q4 25 | 0.15× | 0.16× | ||
| Q3 25 | 0.17× | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | 0.21× | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $28.1M |
| Free Cash FlowOCF − Capex | $34.6M | $27.9M |
| FCF MarginFCF / Revenue | 24.8% | 14.9% |
| Capex IntensityCapex / Revenue | 0.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 0.72× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $28.1M | ||
| Q3 25 | $13.3M | $13.3M | ||
| Q2 25 | $21.1M | $2.0M | ||
| Q1 25 | $-19.7M | $2.2M | ||
| Q4 24 | $50.2M | $19.3M | ||
| Q3 24 | $25.0M | $4.9M | ||
| Q2 24 | $45.6M | $16.5M | ||
| Q1 24 | $-2.2M | $-3.9M |
| Q4 25 | $34.6M | $27.9M | ||
| Q3 25 | $-1.1M | $12.8M | ||
| Q2 25 | $18.7M | $1.2M | ||
| Q1 25 | $-24.4M | $11.0K | ||
| Q4 24 | $47.5M | $18.0M | ||
| Q3 24 | $24.0M | $4.6M | ||
| Q2 24 | $43.6M | $13.2M | ||
| Q1 24 | $-4.6M | $-6.5M |
| Q4 25 | 24.8% | 14.9% | ||
| Q3 25 | -0.8% | 7.0% | ||
| Q2 25 | 15.3% | 0.8% | ||
| Q1 25 | -21.2% | 0.0% | ||
| Q4 24 | 40.4% | 12.5% | ||
| Q3 24 | 20.0% | 3.4% | ||
| Q2 24 | 40.7% | 10.8% | ||
| Q1 24 | -5.6% | -5.5% |
| Q4 25 | 0.8% | 0.1% | ||
| Q3 25 | 10.7% | 0.3% | ||
| Q2 25 | 2.0% | 0.6% | ||
| Q1 25 | 4.1% | 1.7% | ||
| Q4 24 | 2.3% | 0.9% | ||
| Q3 24 | 0.9% | 0.3% | ||
| Q2 24 | 1.9% | 2.7% | ||
| Q1 24 | 2.9% | 2.1% |
| Q4 25 | 0.72× | 2.29× | ||
| Q3 25 | 0.36× | 1.52× | ||
| Q2 25 | 0.62× | 0.26× | ||
| Q1 25 | -0.73× | 0.22× | ||
| Q4 24 | 0.45× | 1.96× | ||
| Q3 24 | 0.70× | 0.66× | ||
| Q2 24 | 1.42× | 2.77× | ||
| Q1 24 | -0.12× | -0.52× |
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% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
