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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $100.0M, roughly 1.4× Latham Group, Inc.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs -7.0%, a 42.5% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs 14.5%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $14.1M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
ADMA vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $100.0M |
| Net Profit | $49.4M | $-7.0M |
| Gross Margin | 63.8% | 28.0% |
| Operating Margin | 45.1% | -10.7% |
| Net Margin | 35.5% | -7.0% |
| Revenue YoY | 18.4% | 14.5% |
| Net Profit YoY | -55.9% | 76.0% |
| EPS (diluted) | $0.20 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $134.2M | $161.9M | ||
| Q2 25 | $122.0M | $172.6M | ||
| Q1 25 | $114.8M | $111.4M | ||
| Q4 24 | $117.5M | $87.3M | ||
| Q3 24 | $119.8M | $150.5M | ||
| Q2 24 | $107.2M | $160.1M | ||
| Q1 24 | $81.9M | $110.6M |
| Q4 25 | $49.4M | $-7.0M | ||
| Q3 25 | $36.4M | $8.1M | ||
| Q2 25 | $34.2M | $16.0M | ||
| Q1 25 | $26.9M | $-6.0M | ||
| Q4 24 | $111.9M | $-29.2M | ||
| Q3 24 | $35.9M | $5.9M | ||
| Q2 24 | $32.1M | $13.3M | ||
| Q1 24 | $17.8M | $-7.9M |
| Q4 25 | 63.8% | 28.0% | ||
| Q3 25 | 56.3% | 35.4% | ||
| Q2 25 | 55.1% | 37.1% | ||
| Q1 25 | 53.2% | 29.5% | ||
| Q4 24 | 53.9% | 24.6% | ||
| Q3 24 | 49.8% | 32.4% | ||
| Q2 24 | 53.6% | 33.1% | ||
| Q1 24 | 47.8% | 27.7% |
| Q4 25 | 45.1% | -10.7% | ||
| Q3 25 | 38.0% | 13.3% | ||
| Q2 25 | 35.1% | 14.3% | ||
| Q1 25 | 30.4% | -4.4% | ||
| Q4 24 | 32.6% | -14.9% | ||
| Q3 24 | 33.1% | 8.9% | ||
| Q2 24 | 36.6% | 12.5% | ||
| Q1 24 | 26.7% | -1.9% |
| Q4 25 | 35.5% | -7.0% | ||
| Q3 25 | 27.1% | 5.0% | ||
| Q2 25 | 28.1% | 9.3% | ||
| Q1 25 | 23.4% | -5.4% | ||
| Q4 24 | 95.2% | -33.4% | ||
| Q3 24 | 30.0% | 3.9% | ||
| Q2 24 | 29.9% | 8.3% | ||
| Q1 24 | 21.7% | -7.1% |
| Q4 25 | $0.20 | $-0.06 | ||
| Q3 25 | $0.15 | $0.07 | ||
| Q2 25 | $0.14 | $0.13 | ||
| Q1 25 | $0.11 | $-0.05 | ||
| Q4 24 | $0.45 | $-0.24 | ||
| Q3 24 | $0.15 | $0.05 | ||
| Q2 24 | $0.13 | $0.11 | ||
| Q1 24 | $0.08 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $72.1M | $279.8M |
| Stockholders' EquityBook value | $477.3M | $405.9M |
| Total Assets | $624.2M | $823.2M |
| Debt / EquityLower = less leverage | 0.15× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | — | ||
| Q3 25 | $61.4M | — | ||
| Q2 25 | $90.3M | — | ||
| Q1 25 | $71.6M | — | ||
| Q4 24 | $103.1M | — | ||
| Q3 24 | $86.7M | — | ||
| Q2 24 | $88.2M | — | ||
| Q1 24 | $45.3M | — |
| Q4 25 | $72.1M | $279.8M | ||
| Q3 25 | $72.4M | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | $72.3M | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $477.3M | $405.9M | ||
| Q3 25 | $431.2M | $408.4M | ||
| Q2 25 | $398.3M | $398.4M | ||
| Q1 25 | $373.4M | $381.1M | ||
| Q4 24 | $349.0M | $387.2M | ||
| Q3 24 | $231.9M | $416.6M | ||
| Q2 24 | $188.3M | $408.1M | ||
| Q1 24 | $153.7M | $391.8M |
| Q4 25 | $624.2M | $823.2M | ||
| Q3 25 | $568.7M | $844.4M | ||
| Q2 25 | $558.4M | $822.1M | ||
| Q1 25 | $510.6M | $824.6M | ||
| Q4 24 | $488.7M | $794.2M | ||
| Q3 24 | $390.6M | $853.4M | ||
| Q2 24 | $376.4M | $830.0M | ||
| Q1 24 | $350.9M | $808.6M |
| Q4 25 | 0.15× | 0.69× | ||
| Q3 25 | 0.17× | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | 0.21× | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $34.6M | $14.1M |
| FCF MarginFCF / Revenue | 24.8% | 14.1% |
| Capex IntensityCapex / Revenue | 0.8% | 9.2% |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $23.3M | ||
| Q3 25 | $13.3M | $51.0M | ||
| Q2 25 | $21.1M | $36.0M | ||
| Q1 25 | $-19.7M | $-46.9M | ||
| Q4 24 | $50.2M | $6.2M | ||
| Q3 24 | $25.0M | $37.2M | ||
| Q2 24 | $45.6M | $52.4M | ||
| Q1 24 | $-2.2M | $-34.5M |
| Q4 25 | $34.6M | $14.1M | ||
| Q3 25 | $-1.1M | $45.2M | ||
| Q2 25 | $18.7M | $29.1M | ||
| Q1 25 | $-24.4M | $-50.3M | ||
| Q4 24 | $47.5M | $-98.0K | ||
| Q3 24 | $24.0M | $33.2M | ||
| Q2 24 | $43.6M | $47.9M | ||
| Q1 24 | $-4.6M | $-39.9M |
| Q4 25 | 24.8% | 14.1% | ||
| Q3 25 | -0.8% | 27.9% | ||
| Q2 25 | 15.3% | 16.8% | ||
| Q1 25 | -21.2% | -45.2% | ||
| Q4 24 | 40.4% | -0.1% | ||
| Q3 24 | 20.0% | 22.1% | ||
| Q2 24 | 40.7% | 29.9% | ||
| Q1 24 | -5.6% | -36.0% |
| Q4 25 | 0.8% | 9.2% | ||
| Q3 25 | 10.7% | 3.6% | ||
| Q2 25 | 2.0% | 4.0% | ||
| Q1 25 | 4.1% | 3.1% | ||
| Q4 24 | 2.3% | 7.2% | ||
| Q3 24 | 0.9% | 2.7% | ||
| Q2 24 | 1.9% | 2.8% | ||
| Q1 24 | 2.9% | 4.8% |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | 6.29× | ||
| Q2 25 | 0.62× | 2.25× | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | 6.32× | ||
| Q2 24 | 1.42× | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
