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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $134.3M, roughly 1.0× Mayville Engineering Company, Inc.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs -3.2%, a 38.7% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs 10.7%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $10.2M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs -8.8%).
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.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
ADMA vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $134.3M |
| Net Profit | $49.4M | $-4.4M |
| Gross Margin | 63.8% | 6.8% |
| Operating Margin | 45.1% | -4.1% |
| Net Margin | 35.5% | -3.2% |
| Revenue YoY | 18.4% | 10.7% |
| Net Profit YoY | -55.9% | -127.3% |
| EPS (diluted) | $0.20 | $-0.22 |
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 | $134.3M | ||
| Q3 25 | $134.2M | $144.3M | ||
| Q2 25 | $122.0M | $132.3M | ||
| Q1 25 | $114.8M | $135.6M | ||
| Q4 24 | $117.5M | $121.3M | ||
| Q3 24 | $119.8M | $135.4M | ||
| Q2 24 | $107.2M | $163.6M | ||
| Q1 24 | $81.9M | $161.3M |
| Q4 25 | $49.4M | $-4.4M | ||
| Q3 25 | $36.4M | $-2.7M | ||
| Q2 25 | $34.2M | $-1.1M | ||
| Q1 25 | $26.9M | $20.0K | ||
| Q4 24 | $111.9M | $16.0M | ||
| Q3 24 | $35.9M | $3.0M | ||
| Q2 24 | $32.1M | $3.8M | ||
| Q1 24 | $17.8M | $3.2M |
| Q4 25 | 63.8% | 6.8% | ||
| Q3 25 | 56.3% | 11.0% | ||
| Q2 25 | 55.1% | 10.3% | ||
| Q1 25 | 53.2% | 11.3% | ||
| Q4 24 | 53.9% | 8.9% | ||
| Q3 24 | 49.8% | 12.6% | ||
| Q2 24 | 53.6% | 13.6% | ||
| Q1 24 | 47.8% | 13.0% |
| Q4 25 | 45.1% | -4.1% | ||
| Q3 25 | 38.0% | 0.0% | ||
| Q2 25 | 35.1% | 0.1% | ||
| Q1 25 | 30.4% | 1.2% | ||
| Q4 24 | 32.6% | 19.0% | ||
| Q3 24 | 33.1% | 4.2% | ||
| Q2 24 | 36.6% | 5.0% | ||
| Q1 24 | 26.7% | 4.7% |
| Q4 25 | 35.5% | -3.2% | ||
| Q3 25 | 27.1% | -1.9% | ||
| Q2 25 | 28.1% | -0.8% | ||
| Q1 25 | 23.4% | 0.0% | ||
| Q4 24 | 95.2% | 13.2% | ||
| Q3 24 | 30.0% | 2.2% | ||
| Q2 24 | 29.9% | 2.3% | ||
| Q1 24 | 21.7% | 2.0% |
| Q4 25 | $0.20 | $-0.22 | ||
| Q3 25 | $0.15 | $-0.13 | ||
| Q2 25 | $0.14 | $-0.05 | ||
| Q1 25 | $0.11 | $0.00 | ||
| Q4 24 | $0.45 | $0.76 | ||
| Q3 24 | $0.15 | $0.14 | ||
| Q2 24 | $0.13 | $0.18 | ||
| Q1 24 | $0.08 | $0.16 |
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 | $1.5M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $240.7M |
| Total Assets | $624.2M | $563.6M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $1.5M | ||
| Q3 25 | $61.4M | $1.2M | ||
| Q2 25 | $90.3M | $206.0K | ||
| Q1 25 | $71.6M | $183.0K | ||
| Q4 24 | $103.1M | $206.0K | ||
| Q3 24 | $86.7M | $178.0K | ||
| Q2 24 | $88.2M | $314.0K | ||
| Q1 24 | $45.3M | $314.0K |
| 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 | $240.7M | ||
| Q3 25 | $431.2M | $244.8M | ||
| Q2 25 | $398.3M | $246.8M | ||
| Q1 25 | $373.4M | $250.0M | ||
| Q4 24 | $349.0M | $251.8M | ||
| Q3 24 | $231.9M | $238.4M | ||
| Q2 24 | $188.3M | $238.1M | ||
| Q1 24 | $153.7M | $234.0M |
| Q4 25 | $624.2M | $563.6M | ||
| Q3 25 | $568.7M | $585.6M | ||
| Q2 25 | $558.4M | $433.7M | ||
| Q1 25 | $510.6M | $447.7M | ||
| Q4 24 | $488.7M | $445.6M | ||
| Q3 24 | $390.6M | $466.0M | ||
| Q2 24 | $376.4M | $488.2M | ||
| Q1 24 | $350.9M | $499.9M |
| 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 | $13.4M |
| Free Cash FlowOCF − Capex | $34.6M | $10.2M |
| FCF MarginFCF / Revenue | 24.8% | 7.6% |
| Capex IntensityCapex / Revenue | 0.8% | 2.4% |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $13.4M | ||
| Q3 25 | $13.3M | $1.9M | ||
| Q2 25 | $21.1M | $15.0M | ||
| Q1 25 | $-19.7M | $8.3M | ||
| Q4 24 | $50.2M | $38.0M | ||
| Q3 24 | $25.0M | $17.9M | ||
| Q2 24 | $45.6M | $23.3M | ||
| Q1 24 | $-2.2M | $10.6M |
| Q4 25 | $34.6M | $10.2M | ||
| Q3 25 | $-1.1M | $-1.1M | ||
| Q2 25 | $18.7M | $12.5M | ||
| Q1 25 | $-24.4M | $5.4M | ||
| Q4 24 | $47.5M | $35.6M | ||
| Q3 24 | $24.0M | $15.1M | ||
| Q2 24 | $43.6M | $19.2M | ||
| Q1 24 | $-4.6M | $7.8M |
| Q4 25 | 24.8% | 7.6% | ||
| Q3 25 | -0.8% | -0.8% | ||
| Q2 25 | 15.3% | 9.5% | ||
| Q1 25 | -21.2% | 4.0% | ||
| Q4 24 | 40.4% | 29.4% | ||
| Q3 24 | 20.0% | 11.1% | ||
| Q2 24 | 40.7% | 11.7% | ||
| Q1 24 | -5.6% | 4.9% |
| Q4 25 | 0.8% | 2.4% | ||
| Q3 25 | 10.7% | 2.1% | ||
| Q2 25 | 2.0% | 1.8% | ||
| Q1 25 | 4.1% | 2.2% | ||
| Q4 24 | 2.3% | 1.9% | ||
| Q3 24 | 0.9% | 2.1% | ||
| Q2 24 | 1.9% | 2.5% | ||
| Q1 24 | 2.9% | 1.7% |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | 416.65× | ||
| Q4 24 | 0.45× | 2.38× | ||
| Q3 24 | 0.70× | 6.03× | ||
| Q2 24 | 1.42× | 6.15× | ||
| Q1 24 | -0.12× | 3.28× |
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% |
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
