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Employees: 900
Size Emergent BioSolutions (EBS) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $312M, the 3078th largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.06 on 6 Nov 2026.
Performance Over six months the shares fell 27.4%, against -25.9% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 17.7% over the last twelve months (peer median +1.7%); the operating margin is 5.0% (peer median 4.9%).
Valuation It trades at 16.1× forward earnings against a peer median of 20.2× (2nd cheapest of 4).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is -14%, so the hurdle is +14 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.8 points below its cost of capital (9.7% WACC).
Backlog Backlog (remaining performance obligations) was $242M at 30 Sep 2026, down 25% on a year earlier — 0.4 years of trailing revenue. Backlog detail →
Short interest Short interest is 18.9% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $649M | $743M | $1.04B | $1.05B | $1.12B |
| Revenue growth | — | -29% | -1% | -6% | — |
| Gross profit | $254M | $351M | $305M | $292M | $367M |
| EBITDA | $122M | $208M | $53.6M | -$42.9M | -$10.0M |
| Net income | -$261M | $52.6M | -$191M | -$760M | -$212M |
| Free cash flow | $188M | $157M | $35.8M | -$258M | -$394M |
| Capital expenditure | $11.7M | $13.8M | $22.9M | $51.6M | $360M |
| Total debt | $514M | $584M | $676M | $878M | $1.43B |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EBS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.0% | -9.9% | 9th lowest of 20 |
| 6-month return | -27.4% | -25.9% | 10th lowest of 20 |
| Distance from 52-week high | -56.9% | -45.8% | 4th lowest of 20 |
| Revenue growth (TTM) | -17.7% | +1.7% | 5th lowest of 19 |
| Operating margin | 5.0% | 4.9% | 10th highest of 20 |
| Forward P/E | 16.1× | 20.2× | 2nd cheapest of 4 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 10.1% | 3rd least demanding of 14 |
| Growth delivered (Del g) | -13.7% | +2.3% | lowest of 14 |
| Hurdle (Req g minus delivered) | +13.6 pp | +7.8 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | -5.8 pp | -5.0 pp | 9th lowest of 19 |
| EV / EBITDA | 5.3× | 15.3× | cheapest of 8 |
| Net debt / EBITDA | 2.8× | -0.7× | 3rd most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Emergent BioSolutions EBS | United States | $312M | -27% | -18% | 5% | 16.1× | -0.1% | -13.7% |
| Zhejiang Zhenyuan Share 000705.SZ | China | $312M | -25% | -33% | -5% | n/a | n/a | n/a |
| Ocugen OCGN | United States | $314M | -39% | -11% | -1,444% | n/a | n/a | n/a |
| Swedencare SECARE.ST | Sweden | $315M | -23% | +3% | 7% | 23.4× | 5.5% | +62.1% |
| Shanxi C&Y Pharmaceutical 300254.SZ | China | $308M | -44% | -6% | 9% | n/a | 10.1% | +0.6% |
| Kitazato 368A.T | Japan | $317M | -9% | +9% | 52% | 12.0× | -16.7% | +5.4% |
| Zhejiang Shengda Bio-Pharm 603079.SS | China | $318M | -29% | -3% | 7% | n/a | 5.7% | -0.3% |
| Shandong Sito Bio-technology 300583.SZ | China | $318M | -26% | +19% | 6% | n/a | 2.7% | +2.3% |
| GC Corp. 005250.KS | South Korea | $319M | -32% | +10% | 1% | n/a | 31.5% | +7.4% |
| Eikon Therapeutics EIKN | United States | $320M | -41% | n/a | n/a | n/a | n/a | n/a |
| Enanta Pharmaceuticals ENTA | United States | $320M | -28% | +1% | -90% | n/a | n/a | n/a |
| Ind-Swift Laboratories INDSWFTLAB.NS | India | $321M | +149% | +66% | 9% | n/a | n/a | n/a |
| 6467 6467.TW | Taiwan | $322M | n/a | n/a | -2,618% | n/a | n/a | n/a |
| Hainan Huluwa Pharmaceutical 605199.SS | China | $322M | -21% | -32% | -58% | n/a | 2.5% | -4.9% |
| Solara Active Pharma Sciences SOLARA.NS | India | $323M | +23% | +27% | 8% | 20.2× | 37.7% | -3.2% |
| Shinpoong Pharmaceutical 019170.KS | South Korea | $300M | -32% | +6% | 1% | n/a | 39.9% | +3.5% |
| Enwei Pharmaceutical 301331.SZ | China | $326M | -20% | -7% | 5% | n/a | 15.1% | +7.3% |
| Hangzhou Tianmushan Pharmaceutical Enterprise 600671.SS | China | $327M | -10% | -19% | 5% | n/a | 22.5% | +0.5% |
| Beihai Gofar Chuanshan Biological 600538.SS | China | $328M | -38% | +10% | -8% | n/a | n/a | n/a |
| Standard Chemical & Pharmaceutical 1720.TW | Taiwan | $329M | 0% | +3% | 21% | n/a | -10.4% | +10.3% |
| Honz Pharmaceutical 300086.SZ | China | $330M | -35% | -23% | -54% | n/a | 58.0% | -12.8% |
Emergent BioSolutions reported $242M of remaining performance obligations at 30 Sep 2026, down 25% from a year earlier and down 10% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 0.76.