A Business at a Glance
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Emergent BioSolutions Inc.
EBS
$411M
Mkt Cap
$7.26
-3.20%
Emergent BioSolutions Inc. (EBS) has a current P/E ratio of 7.8, compared to its historical median P/E of 27.9. The stock is currently considered Cheap based on its historical valuation range.
Emergent BioSolutions Inc. (EBS) has a 5-year average return on invested capital (ROIC) of -11.7%. This is below average and may indicate limited pricing power.
Emergent BioSolutions Inc. (EBS) has a market capitalization of $376M. It is classified as a small-cap stock.
Emergent BioSolutions Inc. (EBS) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 9.01%.
Based on historical P/E analysis, Emergent BioSolutions Inc. (EBS) appears cheap. The current P/E of 7.8 is 72% below its historical median of 27.9. The estimated fair value CAGR (P/E method) is -11.3%.
Emergent BioSolutions Inc. (EBS) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
We are a global life sciences company focused on providing innovative preparedness and response solutions addressing accidental, deliberate and naturally occurring Public Health Threats (“PHTs”). Our solutions include a product portfolio, a product development portfolio, and a contract development and manufacturing (“CDMO”) services portfolio. The types of PHTs we are currently addressing are focused on the following four categories: •chemical, biological, radiological, nuclear and explosives (“CBRNE”); •emerging infectious diseases (“EID”); •emerging health crises; and •acute, emergency and community care. Our revenues are derived from a combination of the sale and procurement of our product/product candidate portfolio (described below), the provision of our bioservices to external customers, and non-dilutive contract and grant funding for research and development (“R&D”) projects from various third-party sources.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 677M | 743M | 1.0B | 1.0B | 1.1B | 1.8B |
| Net Income | -8.6M | 53M | -191M | -761M | -212M | 220M |
| EPS | $-0.17 | $0.93 | $-3.60 | $-14.85 | $-4.22 | $4.06 |
| Free Cash Flow | 135M | 157M | 36M | -258M | -150M | 96M |
| ROIC | -15.9% | 6.5% | -17.0% | -51.9% | -9.9% | 13.7% |
| Gross Margin | - | 56.1% | 34.7% | 30.3% | 34.3% | 50.3% |
| Debt/Equity | 1.10 | 1.12 | 1.40 | 1.35 | 1.03 | 0.54 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 61M | 100M | -109M | -726M | -170M | 341M |
| Operating Margin | 9.0% | 13.5% | -10.4% | -69.2% | -15.2% | 19.2% |
| ROE | -1.6% | 10.5% | -33.7% | -74.7% | -14.1% | 14.3% |
| Shares Outstanding | 52M | 57M | 53M | 51M | 50M | 54M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 450M | 523M | 489M | 561M | 782M | 1.1B | 1.6B | 1.8B | 1.1B | 1.0B | 1.0B | 743M | 677M |
| Gross Margin | 77.3% | 79.4% | 74.2% | 66.5% | 58.8% | 60.8% | 58.7% | 50.3% | 34.3% | 30.3% | 34.7% | 56.1% | N/A |
| R&D | 105M | 119M | 107M | 97M | 143M | 226M | 238M | 235M | 188M | 111M | 71M | 53M | 49M |
| SG&A | 109M | 121M | 143M | 143M | 203M | 274M | 304M | 349M | 340M | 368M | 308M | 186M | 180M |
| EBIT | 89M | 142M | 106M | 124M | 90M | 114M | 439M | 341M | -170M | -726M | -109M | 100M | 61M |
| Op. Margin | 19.8% | 27.1% | 21.6% | 22.2% | 11.5% | 10.3% | 27.8% | 19.2% | -15.2% | -69.2% | -10.4% | 13.5% | 9.0% |
| Net Income | 37M | 63M | 52M | 83M | 63M | 55M | 306M | 220M | -212M | -761M | -191M | 53M | -8.6M |
| Net Margin | 8.2% | 12.0% | 10.6% | 14.7% | 8.0% | 4.9% | 19.4% | 12.4% | -18.9% | -72.5% | -18.3% | 7.1% | -1.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42M | 3.1M | 226M | -6.2M | -2.4M | -2.4M |
| Returns on Capital | |||||||||||||
| ROIC | 12.2% | 15.8% | 10.7% | 11.1% | 5.4% | 4.7% | 18.9% | 13.7% | -9.9% | -51.9% | -17.0% | 6.5% | -15.9% |
| ROE | 7.0% | 10.4% | 8.2% | 11.0% | 6.5% | 5.2% | 24.1% | 14.3% | -14.1% | -74.7% | -33.7% | 10.5% | -1.6% |
| ROA | 4.7% | 6.4% | 5.2% | 8.1% | 3.8% | 2.4% | 11.7% | 7.5% | -6.9% | -30.5% | -11.9% | 3.9% | -0.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 112M | 43M | 55M | 208M | 42M | 188M | 537M | 320M | -34M | -206M | 59M | 171M | 148M |
| Free Cash Flow | 82M | -2.3M | -22M | 153M | -30M | 101M | 395M | 96M | -150M | -258M | 36M | 157M | 135M |
| Owner Earnings | 77M | 2.9M | 8.1M | 161M | -18M | 112M | 435M | 154M | -223M | -355M | -68M | 59M | 38M |
| CapEx | 31M | 45M | 76M | 55M | 72M | 87M | 142M | 224M | 116M | 52M | 23M | 14M | 13M |
| Maint. CapEx | 22M | 24M | 28M | 32M | 36M | 50M | 50M | 124M | 143M | 125M | 109M | 96M | 94M |
| Growth CapEx | 8.3M | 21M | 48M | 23M | 36M | 37M | 92M | 100M | 0 | 0 | 0 | 0 | 0 |
| D&A | 22M | 24M | 28M | 32M | 36M | 50M | 50M | 124M | 143M | 125M | 109M | 96M | 94M |
| CapEx/OCF | 27.3% | 100.8% | 139.6% | 26.3% | 172.5% | 46.2% | 26.3% | 70.0% | N/A | N/A | 39.0% | 8.1% | 8.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 200K | 100K | 0 | 33M | 100K | 0 | 0 | 106M | 82M | 0 | 0 | 25M | 34M |
| Buyback Yield | 0.0% | 0.0% | N/A | 1.4% | 0.0% | N/A | N/A | 4.4% | 14.7% | N/A | N/A | 3.5% | 9.0% |
| Stock-Based Comp | 13M | 16M | 19M | 15M | 23M | 27M | 52M | 42M | 45M | 23M | 18M | 16M | 17M |
| Debt Repayment | 62M | 0 | 0 | 0 | 2.8M | 0 | 8.4M | 11M | 0 | 0 | 15M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -29M | -66M | -3.4M | -165M | 696M | 644M | 254M | 295M | 784M | 766M | 577M | 378M | 413M |
| Cash & Equiv. | 280M | 313M | 272M | 178M | 112M | 168M | 621M | 576M | 643M | 112M | 100M | 205M | 160M |
| Long-Term Debt | 251M | 247M | 248M | 14M | 785M | 798M | 841M | 809M | 449M | 447M | 664M | 572M | 574M |
| Debt/Equity | 0.45 | 0.37 | 0.45 | 0.01 | 0.80 | 0.74 | 0.60 | 0.54 | 1.03 | 1.35 | 1.40 | 1.12 | 1.10 |
| Interest Coverage | 10.8 | 21.7 | 13.9 | 18.8 | 9.1 | 3.0 | 14.0 | 9.9 | -4.6 | -8.3 | -1.5 | 1.7 | 1.7 |
| Equity | 553M | 660M | 596M | 912M | 1.0B | 1.1B | 1.5B | 1.6B | 1.4B | 649M | 483M | 523M | 523M |
| Total Assets | 939M | 1.0B | 970M | 1.1B | 2.2B | 2.3B | 2.9B | 3.0B | 3.2B | 1.8B | 1.4B | 1.3B | 1.3B |
| Total Liabilities | 385M | 377M | 374M | 158M | 1.2B | 1.2B | 1.4B | 1.3B | 1.8B | 1.2B | 907M | 796M | 797M |
| Intangibles | 58M | 41M | 34M | 120M | 762M | 713M | 663M | 605M | 729M | 567M | 501M | 437M | 470M |
| Retained Earnings | 288M | 351M | 254M | 337M | 367M | 422M | 727M | 950M | 739M | -22M | -212M | -160M | -153M |
| Working Capital | 339M | 438M | 404M | 385M | 420M | 470M | 811M | 896M | -19M | 28M | 436M | 530M | 489M |
| Current Assets | 432M | 537M | 510M | 485M | 621M | 686M | 1.2B | 1.3B | 1.2B | 680M | 599M | 663M | 638M |
| Current Liabilities | 93M | 100M | 106M | 100M | 200M | 216M | 385M | 374M | 1.2B | 651M | 162M | 132M | 149M |
| Per Share Data | |||||||||||||
| EPS | 0.88 | 1.41 | 1.13 | 1.71 | 1.22 | 1.04 | 5.68 | 4.06 | -4.22 | -14.85 | -3.60 | 0.93 | -0.17 |
| Owner EPS | 1.85 | 0.07 | 0.18 | 3.33 | -0.34 | 2.13 | 8.08 | 2.85 | -4.44 | -6.92 | -1.29 | 1.04 | 0.72 |
| Book Value | 13.25 | 14.80 | 13.01 | 18.89 | 19.67 | 20.82 | 26.95 | 29.81 | 27.68 | 12.68 | 9.12 | 9.24 | 10.10 |
| Cash Flow/Share | 2.69 | 0.95 | 1.19 | 4.31 | 0.81 | 3.59 | 9.97 | 5.92 | -0.68 | -4.03 | 1.11 | 3.02 | 1.65 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 41.8M | 44.6M | 45.8M | 48.3M | 51.4M | 52.4M | 53.8M | 54.1M | 50.1M | 51.2M | 52.9M | 56.6M | 51.8M |
| Valuation | |||||||||||||
| P/E Ratio | 31.7 | 27.9 | 28.9 | 27.9 | 48.1 | 51.9 | 16.3 | 11.1 | N/A | N/A | N/A | 13.4 | -43.1 |
| P/FCF | 14.3 | N/A | N/A | 15.0 | N/A | 28.0 | 12.6 | 25.3 | N/A | N/A | 12.2 | 4.5 | 2.8 |
| EV/EBIT | 14.7 | 12.0 | 11.8 | 15.8 | 40.1 | 29.1 | 10.7 | 6.3 | N/A | N/A | N/A | 8.6 | 13.0 |
| Price/Book | 2.1 | 2.7 | 2.5 | 2.5 | 3.0 | 2.6 | 3.4 | 1.5 | 0.4 | 0.2 | 0.9 | 1.3 | 0.7 |
| Price/Sales | 2.2 | 2.9 | 3.1 | 3.0 | 3.7 | 2.5 | 2.9 | 2.1 | 1.4 | 0.4 | 0.3 | 0.6 | 0.6 |
| FCF Yield | 7.0% | -0.1% | -1.4% | 6.7% | -1.0% | 3.6% | 8.0% | 4.0% | -26.9% | -203.9% | 8.2% | 22.3% | 36.0% |
| Market Cap | 1.2B | 1.8B | 1.5B | 2.3B | 3.0B | 2.8B | 5.0B | 2.4B | 558M | 126M | 438M | 703M | 376M |
| Avg. Price | 23.76 | 31.76 | 33.46 | 34.84 | 56.14 | 51.90 | 82.84 | 68.36 | 30.68 | 7.36 | 6.22 | 8.10 | 7.26 |
| Year-End Price | 27.93 | 39.36 | 32.69 | 47.72 | 58.69 | 54.00 | 92.16 | 44.94 | 11.12 | 2.47 | 8.27 | 12.43 | 7.26 |
Emergent BioSolutions Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
Emergent BioSolutions Inc. trades at 7.8x trailing earnings, compared to its 15-year median P/E of 27.9x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 2.4x vs a median of 13.8x. The company's 5-year average gross margin is 41.1%. Total shareholder yield (buybacks) is 9.0%. At current prices, the estimated annualized return to fair value is -6.5%.
Emergent BioSolutions Inc. (EBS) reported annual revenue of $743 million in its most recent fiscal year, based on SEC EDGAR filings.
Emergent BioSolutions Inc. (EBS) has a net profit margin of 7.1%. This is a modest margin.
Emergent BioSolutions Inc. (EBS) generated $157 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Emergent BioSolutions Inc. (EBS) has a debt-to-equity ratio of 1.12. This indicates moderate leverage.
Emergent BioSolutions Inc. (EBS) reported earnings per share (EPS) of $0.93 in its most recent fiscal year.
Emergent BioSolutions Inc. (EBS) has a return on equity (ROE) of 10.5%. This indicates moderate shareholder returns.
Emergent BioSolutions Inc. (EBS) has a 5-year average gross margin of 41.1%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for Emergent BioSolutions Inc. (EBS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Emergent BioSolutions Inc. (EBS) has a book value per share of $9.24, based on its most recent annual SEC filing.