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EBS Financials Emergent BioSolutions Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 13.7% per year over the past 5 years.
  • Net income has grown slower than revenue (-29.7% vs -13.7% per year).
  • Operating margin has contracted, at 13.5% in the latest year.
  • Free cash flow has declined 16.9% per year over the past 5 years.

Financial health

  • Total debt ($590M) exceeds cash ($205M); net debt is $384M.
  • Total debt has grown faster than revenue (-7.8% vs -13.7% per year).
  • Operating income covered interest expense 1.7× in the latest year.
  • Total debt is 3.0× EBITDA.
Revenue & net income
-$761M $397M $2B $0 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-72% 1% 74% 0% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
-$258M $69M $395M $0 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $707M $1B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$897M -$54M $789M $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $743M $53M 56.1% 13.5% $157M $590M $205M
2024 $1.0B -$191M 34.7% -10.4% $36M $700M $100M
2023 $1.0B -$761M 30.3% -69.2% -$258M $868M $112M
2022 — -$212M — — -$150M $1.4B $643M
2021 — $220M — — $96M $850M $576M
2020 $1.6B $306M 59.5% 28.2% $395M $886M $621M
2019 $1.1B $55M 60.8% 10.3% $101M $823M $168M
2018 $782M $63M 58.8% 11.5% -$30M $809M $112M
2017 $561M $83M 66.5% 22.2% $153M $14M $178M
2016 $489M $52M 74.2% 21.6% -$22M $248M $272M
2015 — $63M — — -$2M $247M $313M
2014 — $37M — — $82M $251M $280M
2013 — $31M — — $55M $62M $179M
2012 — $24M — — -$14M $63M $142M
2011 — $23M — — -$42M $59M $144M

Valuation over time

How the market has priced EBS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 6.1 12.1 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 0.4 0.9 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S

Frequently asked questions

Is EBS growing its revenue and profit?

Over the past 5 years, Emergent BioSolutions Inc.'s revenue has declined 13.7% per year, and net income declined 29.7% per year. These are computed facts, not advice.

How much debt does EBS have?

As of FY2025, Emergent BioSolutions Inc. reported $590M of total debt against $205M of cash; operating income covered interest expense 1.7×.

What is EBS's profit margin?

In FY2025, gross margin was 56.1%, operating margin 13.5%, and net margin 7.1%.

What is EBS's P/E ratio?

As of Jun '26, Emergent BioSolutions Inc. traded at a price-to-earnings ratio of about 7.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.