Emergent BioSolutions Inc. EBS

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived NYSE

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:

•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.

Last close 6.23 2026-10-23
Market cap $319.4M 2026-06-30 share count
52-week range 4.36 - 14.06

Valuation FY2025 figures against the last close

P/S0.4x
P/E6.7x
P/FCF2.0x
EV/EBITDA3.5x
Dividend yield—
Diluted EPS0.93

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other
  • Canada
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 531.1M (71.5%) 71% United States Other, FY2025: 136.8M (18.4%) 18% Other Canada, FY2025: 75M (10.1%) 10% Canada FY2024 United States, FY2024: 822.6M (78.8%) 79% Other, FY2024: 80.6M (7.7%) 8% Canada, FY2024: 140.4M (13.5%) 13% FY2023 United States, FY2023: 607.2M (57.9%) 58% Other, FY2023: 217.9M (20.8%) 21% Canada, FY2023: 224.2M (21.4%) 21%
Region FY2025FY2024FY2023
United States $531.1M $822.6M $607.2M
Other $136.8M $80.6M $217.9M
Canada $75.0M $140.4M $224.2M

As the company reported it, from the “Segment Information - Revenue from External Customers by Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $742.9M$1.04B$1.05B$1.12B$1.77B$1.58B$1.11B$782.4M$560.9M$488.8M
Cost of revenue $326.2M$681.3M$705.4M$693.1M$748.1M$537.0M$433.5M$322.3M$187.7M$126.3M
Gross profit $416.7M$362.3M$317.6M$383.0M$891.3M$925.2M$672.5M$460.1M$373.2M$362.5M
R&D $53.2M$70.7M$111.4M$188.3M$235.2M$237.9M$226.2M$142.8M$97.4M$106.9M
SG&A $186.1M$308.0M$368.4M$339.5M$348.7M$304.1M$273.5M$202.5M$142.9M$143.1M
Total operating expenses ——————$991.9M$692.6M$436.6M$383.3M
Operating income $100.1M-$108.7M-$726.4M-$170.0M$341.4M$438.5M$114.1M$89.8M$124.3M$105.5M
Interest expense $59.3M$71.0M$87.9M$37.3M$34.5M$31.3M$38.4M$9.9M$6.6M$7.6M
Pre-tax income $82.8M-$142.9M-$731.2M-$219.0M$303.2M$411.9M$77.4M$81.5M$118.6M$99.2M
Income tax $30.2M$47.7M$29.3M$7.4M$83.7M$106.1M$22.9M$18.8M$36.0M$36.7M
Net income $52.6M-$190.6M-$760.5M-$211.6M$219.5M$305.8M$54.5M$62.7M$82.6M$51.8M
EPS, basic 0.98-3.60-14.85-4.224.105.801.061.251.981.29
EPS, diluted 0.93-3.60-14.85-4.224.065.681.041.221.711.13
Shares, diluted (wtd. avg.) 56.7M53.0M51.2M50.1M54.1M53.8M52.4M51.4M50.3M49.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $205.4M$99.5M$111.7M$642.6M$576.3M$621.5M$168.0M$112.4M$179.3M$272.5M
Receivables $84.2M$154.5M$191.0M$159.2M$278.9M$230.9M$270.7M$262.5M$143.7M$138.5M
Inventory $343.4M$311.7M$328.9M$350.7M$344.5M$307.0M$222.5M$205.8M$142.8M$74.0M
Total current assets $662.5M$598.7M$679.5M$1.21B$1.27B$1.20B$686.2M$620.8M$485.4M$510.2M
Property, plant and equipment $205.4M$270.6M$382.8M$817.6M$800.1M$644.1M$542.3M$510.2M$407.2M$376.4M
Goodwill $0$0$0$218.2M$224.9M$266.7M$266.6M$259.7M$49.1M$41.0M
Other intangibles $436.5M$501.5M$566.6M$728.8M$604.6M$663.1M$712.9M$761.6M$119.6M$33.9M
Total assets $1.32B$1.39B$1.82B$3.17B$2.96B$2.88B$2.33B$2.23B$1.07B$970.1M
Accounts payable $55.6M$60.9M$112.2M$103.5M$128.9M$136.1M$94.8M$80.7M$41.8M$34.6M
Short-term debt —$0$413.7M$957.3M$31.6M$33.8M$12.9M$10.1M$0—
Total current liabilities $132.2M$162.4M$651.3M$1.23B$374.0M$384.5M$216.3M$200.4M$100.1M$105.9M
Long-term debt $572.1M$663.7M$446.5M$448.5M$809.4M$841.0M$798.4M$784.5M$13.5M$248.1M
Total liabilities $796.0M$906.9M$1.17B$1.78B$1.35B$1.44B$1.24B$1.22B$157.9M$373.9M
Retained earnings -$159.8M-$212.4M-$21.8M$738.7M$950.3M$726.9M$421.8M$367.3M$337.1M$254.5M
Total equity $522.6M$482.8M$649.3M$1.39B$1.61B$1.45B$1.09B$1.01B$912.3M$596.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $170.6M$58.7M-$206.3M-$34.1M$320.2M$536.9M$188.0M$41.8M$208.1M$54.6M
Depreciation and amortisation $95.8M$108.8M$125.1M$143.3M$123.8M$50.1M$49.5M$36.3M$32.2M$28.0M
Stock-based compensation $16.2M$18.0M$23.1M$45.1M$42.4M$51.8M$26.7M$23.2M$15.2M$18.5M
Capital expenditure $13.8M$22.9M$51.6M$115.8M$224.1M$141.9M$86.9M$72.1M$54.8M$76.2M
Investing cash flow $69.4M$125.2M$212.3M-$381.3M-$224.1M-$151.9M-$96.9M-$897.2M-$249.9M-$76.2M
Financing cash flow -$136.6M-$190.0M-$535.7M$481.2M-$141.0M$69.5M-$35.9M$788.7M-$51.4M-$19.8M
Buybacks $24.9M$0$0$82.1M$106.0M$0$0$100.0K$33.1M$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001367644-26-000015.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B Revenue, FY2016: 488.8M Gross profit, FY2016: 362.5M Net income, FY2016: 51.8M Revenue, FY2017: 560.9M Gross profit, FY2017: 373.2M Net income, FY2017: 82.6M Revenue, FY2018: 782.4M Gross profit, FY2018: 460.1M Net income, FY2018: 62.7M Revenue, FY2019: 1.1B Gross profit, FY2019: 672.5M Net income, FY2019: 54.5M Revenue, FY2020: 1.6B Gross profit, FY2020: 925.2M Net income, FY2020: 305.8M Revenue, FY2021: 1.8B Gross profit, FY2021: 891.3M Net income, FY2021: 219.5M Revenue, FY2022: 1.1B Gross profit, FY2022: 383M Net income, FY2022: -211.6M Revenue, FY2023: 1B Gross profit, FY2023: 317.6M Net income, FY2023: -760.5M Revenue, FY2024: 1B Gross profit, FY2024: 362.3M Net income, FY2024: -190.6M Revenue, FY2025: 742.9M Gross profit, FY2025: 416.7M Net income, FY2025: 52.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $488.8M $560.9M $782.4M $1.11B $1.58B $1.77B $1.12B $1.05B $1.04B $742.9M
Gross profit $362.5M $373.2M $460.1M $672.5M $925.2M $891.3M $383.0M $317.6M $362.3M $416.7M
Net income $51.8M $82.6M $62.7M $54.5M $305.8M $219.5M -$211.6M -$760.5M -$190.6M $52.6M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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