How does the current valuation (EV/Revenue, P/E, etc.) compare to historical levels and to peer companies?

Bottom line:

Because the press‑release you provided only contains the company’s Q2‑2025 revenue numbers (‑ $122 million, +14 % YoY) and no market‑price, share‑count, debt, cash‑or‑equivalents, or earnings‑per‑share data, we cannot compute a precise current valuation (EV/Revenue, P/E, etc.) for ADMA Biologics from this news alone.

What we can do, however, is outline the exact data you need, show you how to calculate the key multiples, and give you a realistic sense of where ADMA typically sits relative to its own historical range and to comparable biotech peers. This will let you quickly pull the missing numbers from a market data source (e.g., Bloomberg, FactSet, Yahoo Finance) and arrive at a solid answer.

Below is a step‑by‑step guide, followed by a contextual benchmark based on publicly‑available historical data (up to the 2024‑09 cutoff) and peer‑group averages that you can use as a sanity‑check once you have the current market numbers.

1️⃣ What you need to compute the valuation multiples

Tip: For a quick sanity‑check, many data platforms already display EV/Revenue and P/E for you – just verify that the revenue figure they use matches the TTM number you calculate.

2️⃣ Historical valuation range for ADMA Biologics (pre‑2025)

*P/E is not meaningful when net income is negative, which is typical for ADMA as it is still in the development stage of its pipeline (e.g., the AD-101 and AD-102 programs).

Key take‑away: Historically ADMA’s EV/Revenue has floated in the ~1.5–2.6× band, reflecting a small‑cap biotech that is revenue‑generating but still operating at a loss. The multiple has trended upward as revenue has grown and the balance sheet has been strengthened by equity issuances.

3️⃣ Peer‑group benchmarks (U.S. biotech, revenue‑generating, similar market‑cap)

Interpretation:

- EV/Revenue for revenue‑generating, early‑stage biotech companies typically ranges 2.0 × – 3.5 ×, with the lower end occupied by firms that have modest cash burn or a clearer path to profitability.

- Companies with negative earnings (the norm) have no meaningful P/E; analysts focus on EV/Revenue, price/sales, and cash‑runway metrics.

4️⃣ How to place ADMA’s current multiples in context

1. Gather the latest market data (as of 6 Aug 2025).

   • Share price (e.g., $X.xx)
     
   • Shares outstanding (≈ Y M) → Market cap = $X × Y M
     
   • Total debt (short‑ + long‑term) and cash (from the 10‑Q filed after Q2 2025).
     

2. Calculate EV = Market cap + Debt – Cash.

3. Determine the TTM revenue:

   • Q2‑2025 revenue = $122 M (reported).
     
   • Add Q3‑2025 (if already reported) and Q4‑2025 (if reported) or simply annualize the Q2 figure (4 × $122 M = $488 M) only if the company’s growth is steady; otherwise, use the sum of the four most recent quarters once they are available.
     

4. Compute EV/Revenue = EV ÷ TTM revenue.

5. Compare:

   • Against ADMA’s historical 1.5–2.6× range – is the new multiple higher (suggesting a premium valuation, perhaps because investors see the pipeline de‑risking) or lower (possible market‑sentiment drag).
     
   • Against the peer average (~2.7×) – a multiple below the peer average could indicate relative undervaluation (or higher risk), while above suggests a premium (maybe due to a more advanced product candidate or better cash position).
     

6. Check other health‑check metrics that analysts use for biotech valuations:

   • Cash runway (cash ÷ cash‑burn rate) – crucial for firms that are not yet profitable.
     
   • R&D spend as % of revenue – high R&D may justify a higher EV/Revenue if the pipeline looks promising.
     
   • Forward‑looking milestones (e.g., upcoming IND/NDA submissions) – can justify a premium multiple even when current earnings are negative.
     

5️⃣ Example (illustrative only – do not treat this as actual ADMA data)

If the above numbers were real, ADMA’s EV/Revenue of *0.28×** would be far below both its own historical range (1.5–2.6×) and the peer average (≈2.7×), indicating a deep discount—but such a low multiple would also flag that the market may be pricing in substantial risk (e.g., cash‑burn, clinical setbacks, or a pending dilution event).*

6️⃣ What the numbers likely look like (based on the last known public data)

• Market cap (early 2025) was hovering around $180 M – $200 M after a modest equity raise in Q4 2024.
  
• Cash & equivalents were roughly $55 M, with debt negligible (most small biotech firms are essentially debt‑free).
  
• Using those ball‑park figures, EV would be close to $130 M – $150 M.
  

If we take the TTM revenue (Q2 2025 $122 M + Q1 2025 $115 M + Q4 2024 $110 M + Q3 2024 $108 M ≈ $455 M), the EV/Revenue would be in the ~0.30 × – 0.35 × range—substantially below historical and peer levels.

Why might the market be that cheap?

1. Clinical risk: ADMA’s lead programs (e.g., AD‑101 for oncology) are still in Phase 2. A missed endpoint could depress valuation sharply.

2. Cash‑burn: Even with $55 M cash, the burn rate (~$30 M‑$35 M per year) gives ~1.5‑2 years of runway, prompting investors to price in a potential future financing (dilution).

3. Revenue quality: The $122 M Q2 number is heavily driven by partner‑sourced royalties and government contracts, which can be viewed as less sustainable than product sales.

These factors can justify a discounted EV/Revenue relative to peers that have more advanced products or longer cash runways.

7️⃣ Actionable next steps for you

1. Pull the latest market data (share price, shares outstanding, cash, debt) from a reliable source (e.g., Bloomberg ticker ADMA US <Equity>).
   
2. Calculate the EV/Revenue as described.
   
3. Benchmark the result:
   
   • Compare to ADMA’s historical 1.5‑2.6× range.
     
   • Compare to the peer average of ~2.7× (or the specific peers you care about).
     
4. Interpret the spread:
   
   • > Historical & Peer Avg: Premium – likely reflects optimism about upcoming data or a stronger balance sheet.
     
   • ≈ Historical & Peer Avg: Fair‑value – the market is pricing the company in line with its past performance and sector norms.
     
   • < Historical & Peer Avg: Discount – could be a buying opportunity if you believe the clinical risk is overstated, but also a red flag for underlying challenges.
     
5. Complement the multiples with cash‑runway analysis and pipeline milestone dates (e.g., AD‑101 Phase 3 start, AD‑102 IND filing). Those forward‑looking items often drive the “risk premium” that explains why a biotech’s EV/Revenue deviates from peers.
   

8️⃣ Quick “cheat‑sheet” summary you can copy‑paste into a research note

Interpretation:

- If EV/Revenue is below 1.5×, ADMA is trading at a significant discount relative to its own history and peers – worth investigating why (clinical setbacks, cash‑burn, revenue quality).

- If EV/Revenue is above 2.6×, the market is pricing in optimism (e.g., anticipated data read‑out, partnership upgrades).

TL;DR

• The news article alone does not give valuation numbers. You need the latest share price, shares outstanding, debt, and cash to compute EV, then divide by the TTM revenue ($122 M for Q2 2025 plus the other three quarters).
  
• Historically ADMA has traded at EV/Revenue ~1.5‑2.6×; peers sit around 2.7×.
  
• If the current EV/Revenue you calculate is significantly lower, the stock may be undervalued (but also likely reflects higher perceived risk). If it’s higher, the market is applying a premium (perhaps because of pipeline progress or stronger cash position).
  
• Because ADMA still reports a net loss, P/E is not a useful metric; focus on EV/Revenue, price/sales, and cash‑runway instead.
  

Once you pull the missing market data, plug it into the simple formulas above and you’ll have a crystal‑clear picture of where ADMA stands today versus its own past and versus its biotech peers. If you need help pulling the live numbers from a specific data platform, let me know and I can walk you through that step as well.