ADMA Biologics Inc (ADMA)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover	1.22	1.14	0.99	0.97	0.98	0.99	0.93	0.82	0.73	0.65	0.65	0.63	0.64	0.67	0.68	0.66	0.75	0.77	0.89	0.90
Receivables turnover	8.53	7.63	10.97	5.71	9.42	7.48	5.67	6.86	9.94	6.24	5.83	3.67	2.83	3.36	2.47	3.13	3.19	6.36	5.72	5.07
Payables turnover	10.23	12.20	12.55	9.99	10.81	14.95	12.50	10.33	8.98	4.20	8.32	6.19	6.42	4.40	10.96	5.12	5.53	6.75	7.23	5.13
Working capital turnover	1.55	1.40	1.27	1.27	1.25	1.01	0.93	0.80	0.67	0.73	0.57	0.45	0.45	0.48	0.38	0.31	0.32	0.33	0.29	0.24

ADMA Biologics Inc's inventory turnover ratio has shown a gradual improvement over the years, indicating that the company is managing its inventory more efficiently. The ratio increased from 0.90 in March 2020 to 1.22 in December 2024, suggesting that the company is selling its inventory more quickly.

On the other hand, the receivables turnover ratio has been volatile, with fluctuations observed from period to period. This may indicate challenges in collecting receivables promptly or changes in the company's credit policies. The ratio ranged from 2.47 in June 2021 to 10.97 in June 2024, showing significant variability over time.

Regarding payables turnover, ADMA Biologics Inc has generally maintained a stable ratio, with minor fluctuations. The company's ability to pay its suppliers within a reasonable timeframe seems consistent, as evidenced by a ratio range of 4.20 to 14.95 from September 2022 to September 2023.

Lastly, the working capital turnover ratio has exhibited a consistent upward trend, indicating that the company is generating more revenue relative to its working capital. The ratio improved from 0.24 in March 2020 to 1.55 in December 2024, showing a positive trend in utilizing its working capital efficiently to generate sales.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	300.32	320.75	368.83	377.96	372.83	366.93	390.87	447.43	501.60	561.61	562.76	580.84	570.70	548.03	538.57	552.18	485.56	472.60	409.36	406.70
Days of sales outstanding (DSO)	days	42.79	47.81	33.28	63.93	38.76	48.79	64.42	53.21	36.73	58.47	62.62	99.52	128.86	108.64	147.89	116.65	114.44	57.38	63.83	72.03
Number of days of payables	days	35.67	29.91	29.08	36.55	33.77	24.41	29.20	35.35	40.64	86.86	43.87	58.92	56.87	82.99	33.31	71.28	65.95	54.07	50.51	71.18

ADMA Biologics Inc's activity ratios show the efficiency of the company in managing its inventory, collecting receivables, and paying its payables.

1. Days of Inventory on Hand (DOH): The trend in ADMA Biologics Inc's DOH shows fluctuations over the years. The company had a peak DOH of 580.84 days on March 31, 2022, which decreased to 300.32 days by December 31, 2024. A decreasing trend in DOH indicates that the company is able to manage its inventory more effectively, which may result in lower carrying costs and better liquidity.

2. Days of Sales Outstanding (DSO): ADMA Biologics Inc had a high DSO of 147.89 days on June 30, 2021, before decreasing to 42.79 days by December 31, 2024. A decreasing trend in DSO suggests that the company is improving its receivables management and collecting payments from customers more efficiently, which can help in maintaining healthy cash flows.

3. Number of Days of Payables: The number of days ADMA Biologics Inc takes to pay its payables shows some variability. The company had a low of 24.41 days on September 30, 2023, before increasing to 35.67 days by December 31, 2024. A longer period to pay its payables may indicate that the company is using its suppliers' funds effectively to support operations or extend payment terms.

Overall, analyzing these activity ratios provides insights into how effectively ADMA Biologics Inc is managing its working capital and operational efficiency, which are crucial factors for the company's financial health and sustainability.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	7.80	7.13	6.08	5.12	4.80	4.27	3.70	3.17	2.64	2.29	2.00	1.77	1.59	1.42	1.25	1.09	1.02	1.02	1.00	1.03
Total asset turnover	0.87	0.98	0.88	0.81	0.78	0.67	0.61	0.53	0.44	0.43	0.37	0.31	0.29	0.29	0.25	0.20	0.20	0.21	0.19	0.17

ADMA Biologics Inc's Fixed Asset Turnover ratio has shown a consistent upward trend from 1.03 in March 2020 to 7.80 in December 2024. This indicates that the company is generating more revenue relative to its investment in fixed assets over time. The significant increase in the Fixed Asset Turnover ratio suggests improved efficiency in utilizing its fixed assets to generate sales.

In comparison, the Total Asset Turnover ratio for ADMA Biologics Inc has also increased steadily from 0.17 in March 2020 to 0.87 in December 2024. This ratio measures the company's ability to generate sales based on its total assets. The rising trend indicates that the company is becoming more efficient in utilizing all its assets to generate revenue.

Overall, both the Fixed Asset Turnover and Total Asset Turnover ratios for ADMA Biologics Inc have shown continuous improvement over the analyzed periods, reflecting enhanced operational efficiency and effectiveness in generating revenue relative to its asset base.