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Stocks · Health care · Pharmaceutical Preparations

Emergent BioSolutions Inc.

EBS Clue Score47
United States Fiscal year ends December CIK 0001367644
$7.06 +3.67% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $7.06 −86.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue488.8Operating income105.5Net income51.8EPS, diluted1.13Fiscal year 2017Revenue560.9 +14.8%Operating income124.3Net income82.6 +59.5%EPS, diluted1.71 +51.3%Fiscal year 2018Revenue782.4 +39.5%Operating income89.8Net income62.7 −24.1%EPS, diluted1.22 −28.7%Fiscal year 2019Revenue1,106.0 +41.4%Operating income114.1Net income54.5 −13.1%EPS, diluted1.04 −14.8%Fiscal year 2020Revenue1,555.4 +40.6%Operating income438.5Net income305.8 +461.1%EPS, diluted5.68 +446.2%Fiscal year 2021Revenue1,773.6 +14.0%Operating income341.4Net income219.5 −28.2%EPS, diluted4.06 −28.5%Fiscal year 2022Revenue1,117.5 −37.0%Operating income−170.0Net income−211.6 −196.4%EPS, diluted−4.22 −203.9%Fiscal year 2023Revenue1,049.3 −6.1%Operating income−726.4Net income−760.5EPS, diluted−14.85Fiscal year 2024Revenue1,043.6 −0.5%Operating income−108.7Net income−190.6EPS, diluted−3.60Fiscal year 2025Revenue742.9 −28.8%Operating income100.1Net income52.6EPS, diluted0.93
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 488.8 560.9 782.4 1,106.0 1,555.4 1,773.6 1,117.5 1,049.3 1,043.6 742.9
Growth +14.8% +39.5% +41.4% +40.6% +14.0% −37.0% −6.1% −0.5% −28.8%
Operating income 105.5 124.3 89.8 114.1 438.5 341.4 −170.0 −726.4 −108.7 100.1
Net income 51.8 82.6 62.7 54.5 305.8 219.5 −211.6 −760.5 −190.6 52.6
Growth +59.5% −24.1% −13.1% +461.1% −28.2% −196.4%
EPS, diluted 1.13 1.71 1.22 1.04 5.68 4.06 −4.22 −14.85 −3.60 0.93
Growth +51.3% −28.7% −14.8% +446.2% −28.5% −203.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Operating margin21.6%Net margin10.6%Free cash flow margin−4.4%Fiscal year 2017Operating margin22.2%Net margin14.7%Free cash flow margin27.3%Fiscal year 2018Operating margin11.5%Net margin8.0%Free cash flow margin−3.9%Fiscal year 2019Operating margin10.3%Net margin4.9%Free cash flow margin9.1%Fiscal year 2020Gross margin59.5%Operating margin28.2%Net margin19.7%Free cash flow margin25.4%Fiscal year 2021Gross margin50.3%Operating margin19.2%Net margin12.4%Free cash flow margin5.4%Fiscal year 2022Gross margin34.3%Operating margin−15.2%Net margin−18.9%Free cash flow margin−13.4%Fiscal year 2023Gross margin30.3%Operating margin−69.2%Net margin−72.5%Free cash flow margin−24.6%Fiscal year 2024Operating margin−10.4%Net margin−18.3%Free cash flow margin3.4%Fiscal year 2025Operating margin13.5%Net margin7.1%Free cash flow margin21.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a 59.5% 50.3% 34.3% 30.3% n/a n/a
Operating margin 21.6% 22.2% 11.5% 10.3% 28.2% 19.2% −15.2% −69.2% −10.4% 13.5%
Net margin 10.6% 14.7% 8.0% 4.9% 19.7% 12.4% −18.9% −72.5% −18.3% 7.1%
Free cash flow margin −4.4% 27.3% −3.9% 9.1% 25.4% 5.4% −13.4% −24.6% 3.4% 21.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow54.6Capital expenditure−76.2Free cash flow−21.6Buybacks0.0Fiscal year 2017Operating cash flow208.1Capital expenditure−54.8Free cash flow153.3Buybacks−33.1Fiscal year 2018Operating cash flow41.8Capital expenditure−72.1Free cash flow−30.3 −119.8%Buybacks−0.1Fiscal year 2019Operating cash flow188.0Capital expenditure−86.9Free cash flow101.1Buybacks0.0Fiscal year 2020Operating cash flow536.9Capital expenditure−141.9Free cash flow395.0 +290.7%Buybacks0.0Fiscal year 2021Operating cash flow320.2Capital expenditure−224.1Free cash flow96.1 −75.7%Buybacks−106.0Fiscal year 2022Operating cash flow−34.1Capital expenditure−115.8Free cash flow−149.9 −256.0%Buybacks−82.1Fiscal year 2023Operating cash flow−206.3Capital expenditure−51.6Free cash flow−257.9Buybacks0.0Fiscal year 2024Operating cash flow58.7Capital expenditure−22.9Free cash flow35.8Buybacks0.0Fiscal year 2025Operating cash flow170.6Capital expenditure−13.8Free cash flow156.8 +338.0%Buybacks−24.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 54.6 208.1 41.8 188.0 536.9 320.2 −34.1 −206.3 58.7 170.6
Capital expenditure −76.2 −54.8 −72.1 −86.9 −141.9 −224.1 −115.8 −51.6 −22.9 −13.8
Free cash flow −21.6 153.3 −30.3 101.1 395.0 96.1 −149.9 −257.9 35.8 156.8
Growth −119.8% +290.7% −75.7% −256.0% +338.0%
Buybacks 0.0 −33.1 −0.1 0.0 0.0 −106.0 −82.1 0.0 0.0 −24.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash271.5Total debt248.1Net cash (debt)23.4Shareholders’ equity596.2Debt to equity0.42Fiscal year 2017Cash178.3Total debt13.5Net cash (debt)164.8Shareholders’ equity912.3Debt to equity0.01Fiscal year 2018Cash112.2Total debt794.6Net cash (debt)−682.4Shareholders’ equity1,010.9Debt to equity0.79Fiscal year 2019Cash167.8Total debt811.3Net cash (debt)−643.5Shareholders’ equity1,091.3Debt to equity0.74Fiscal year 2020Cash621.3Total debt874.8Net cash (debt)−253.5Shareholders’ equity1,450.9Debt to equity0.60Fiscal year 2021Cash576.1Total debt841.0Net cash (debt)−264.9Shareholders’ equity1,611.5Debt to equity0.52Fiscal year 2022Cash642.6Total debt1,405.8Net cash (debt)−763.2Shareholders’ equity1,387.7Debt to equity1.01Fiscal year 2023Cash111.7Total debt860.2Net cash (debt)−748.5Shareholders’ equity649.3Debt to equity1.32Fiscal year 2024Cash99.5Total debt663.7Net cash (debt)−564.2Shareholders’ equity482.8Debt to equity1.37Fiscal year 2025Cash205.4Total debt572.1Net cash (debt)−366.7Shareholders’ equity522.6Debt to equity1.09
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 271.5 178.3 112.2 167.8 621.3 576.1 642.6 111.7 99.5 205.4
Total debt 248.1 13.5 794.6 811.3 874.8 841.0 1,405.8 860.2 663.7 572.1
Net cash (debt) 23.4 164.8 −682.4 −643.5 −253.5 −264.9 −763.2 −748.5 −564.2 −366.7
Shareholders’ equity 596.2 912.3 1,010.9 1,091.3 1,450.9 1,611.5 1,387.7 649.3 482.8 522.6
Debt to equity 0.42 0.01 0.79 0.74 0.60 0.52 1.01 1.32 1.37 1.09

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
488.8 560.9 782.4 1,106.0 1,555.4 1,773.6 1,117.5 1,049.3 1,043.6 742.9
Growth +14.8% +39.5% +41.4% +40.6% +14.0% −37.0% −6.1% −0.5% −28.8%
126.3 187.7 322.3 433.5 537.0 748.1 693.1 705.4 681.3 326.2
n/a n/a n/a n/a 925.2 891.3 383.0 317.6 n/a n/a
Growth −3.7% −57.0% −17.1%
106.9 97.4 142.8 226.2 237.9 235.2 188.3 111.4 70.7 53.2
143.1 142.9 202.5 273.5 304.1 348.7 339.5 368.4 308.0 186.1
105.5 124.3 89.8 114.1 438.5 341.4 −170.0 −726.4 −108.7 100.1
Growth +17.8% −27.8% +27.1% +284.3% −22.1% −149.8%
99.2 118.6 81.5 77.4 411.9 303.2 −219.0 −731.2 −142.9 82.8
36.7 36.0 18.8 22.9 106.1 83.7 −7.4 29.3 47.7 30.2
51.8 82.6 62.7 54.5 305.8 219.5 −211.6 −760.5 −190.6 52.6
Growth +59.5% −24.1% −13.1% +461.1% −28.2% −196.4%
Per share
1.29 1.98 1.25 1.06 5.80 4.10 −4.22 −14.85 −3.60 0.98
1.13 1.71 1.22 1.04 5.68 4.06 −4.22 −14.85 −3.60 0.93
Growth +51.3% −28.7% −14.8% +446.2% −28.5% −203.9%
40.2 41.8 50.1 51.5 52.7 53.5 50.1 51.2 53.0 53.5
49.3 50.3 51.4 52.4 53.8 54.1 50.1 51.2 53.0 56.7
Growth +2.0% +2.2% +1.9% +2.7% +0.6% −7.4% +2.2% +3.5% +7.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 13.7% a year over five years, and earnings per share fell 30.4% a year.
  • The diluted share count rose 5.4% in five years, which is dilution.
  • Operating margin is down 14.7 points on five years ago, at 13.5%.
  • A net loss in 3 of 10 years on file.