Emergent Biosolutions (EBS) AI Stock Analysis

• Market Cap: $595.58M
• Dividend Yield: N/A
• Average Volume (3M): 787.38K
• Price to Earnings (P/E): 8.8
• Beta (1Y): 3.20
• Revenue Growth: -29.91%
• EPS Growth: N/A
• Country: US
• Employees: 900
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 1.06
• Shares Outstanding: 52,519,962
• 10 Day Avg. Volume: 704,331
• 30 Day Avg. Volume: 787,376
• PEG Ratio: 0.04
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 0.49
• P/FCF Ratio: 14.15
• Enterprise Value/Market Cap: 1.72
• Enterprise Value/Revenue: 1.30
• Enterprise Value/Gross Profit: 2.24
• Enterprise Value/Ebitda: 4.74
• 1Y Price Target: $15.00
• Price Target Upside: 32.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: $13.00 ▲(14.64% Upside)

The score is capped mainly by weak cash flow generation and leverage risk despite improved margins. Offsetting these, the latest earnings call and corporate updates point to better execution with raised guidance and deleveraging progress, while technicals are mixed and valuation appears modest on a low P/E.

Positive Factors

FDA Approval

The FDA approval enhances Emergent's manufacturing capabilities, supporting long-term growth and strengthening its competitive position in biodefense.

International Revenue Growth

Increased international sales diversify revenue streams and reduce dependency on domestic markets, supporting sustainable growth.

Naloxone Business Growth

Strong growth in the naloxone business indicates robust market demand and reinforces Emergent's leadership in addressing public health needs.

Negative Factors

Revenue Decline

The decline in revenue highlights challenges in maintaining growth, potentially impacting long-term financial performance if not addressed.

High Leverage

High leverage can strain financial flexibility and increase risk, particularly if earnings do not continue to improve, affecting long-term stability.

Cash Flow Challenges

Weak cash flow generation limits the company's ability to invest in growth opportunities or reduce debt, posing a risk to future financial health.

Emergent Biosolutions Business Overview & Revenue Model

Company Description

Emergent BioSolutions Inc., a life sciences company, focuses on the provision of preparedness and response solutions that address accidental, deliberate, and naturally occurring public health threats (PHTs) in the United States. The company's products address PHTs, which include chemical, biological, radiological, nuclear, and explosives; emerging infectious diseases; travel health; and emerging health crises and acute/emergency care. It offers BioThrax, an anthrax vaccine; ACAM2000, a smallpox vaccine; Botulism Antitoxin Heptavalent to treat botulinum disease; vaccinia immune globulin intravenous that addresses complications from smallpox vaccine; raxibacumab for the treatment and prophylaxis of inhalational anthrax; Anthrasil to for inhalational anthrax; reactive skin decontamination lotion kits; and Trobigard, a combination drug-device auto injector product candidate; and Trobigard, a combination drug-device auto injector product candidate. The company also provides NARCAN, a nasal spray for the emergency treatment of known or suspected opioid overdose; Vivotif, an oral vaccine for typhoid fever; and Vaxchora, a single-dose oral vaccine to treat cholera. In addition, it is developing AP003, a Naloxone multidose nasal spray; AP007, a sustained release Nalmefene injection for treatment of opioid use disorder; AV7909, an anthrax vaccine; CGRD-001, a pralidoxime chloride/atropine auto-injector; CHIKV VLP, a chikungunya virus VLP vaccine; COVID-HIG for the treatment of SARS-CoV2; EGRD-001, a diazepam auto-injector; SIAN, an antidote for the initial treatment of acute poisoning of cyanide; and UniFlu, a universal influenza vaccine. Further, the company provides contract development and manufacturing services comprising drug substance and product manufacturing, and packaging, as well as technology transfer, process, and analytical development services. The company was incorporated in 1998 and is headquartered in Gaithersburg, Maryland.

How the Company Makes Money

Emergent BioSolutions generates revenue through multiple streams, primarily by selling its vaccines and therapeutics to government agencies, including the U.S. Department of Health and Human Services and the Department of Defense, as well as international governments. The company's revenue model includes contract manufacturing services for third-party clients, which provides additional income through production capabilities. Significant partnerships, particularly with governmental organizations and large pharmaceutical companies, enhance its earnings by securing multi-year contracts and funding for research and development. Moreover, the company also benefits from grants and funding related to biodefense initiatives and public health preparedness programs.

Emergent Biosolutions Financial Statement Overview

Summary

Profitability is improving (gross margin 57.8% and net margin 9.62% turning positive), but fundamentals are held back by declining TTM revenue (-7.36%), high leverage (debt-to-equity 1.14), and very weak cash conversion with free cash flow growth down -99.10% and low operating cash flow to net income (0.095).

Income Statement

Emergent Biosolutions has shown a decline in revenue over the TTM period, with a negative revenue growth rate of -7.36%. However, the company has improved its gross profit margin to 57.8% in the TTM, indicating strong cost management. The net profit margin has also turned positive at 9.62%, a significant improvement from previous losses, suggesting a recovery in profitability. Despite these improvements, the EBIT and EBITDA margins remain moderate at 15.13% and 27.37%, respectively.

Balance Sheet

The company's debt-to-equity ratio is relatively high at 1.14, indicating significant leverage, which could pose risks if earnings do not continue to improve. However, the return on equity has improved to 14.09% in the TTM, reflecting better utilization of equity to generate profits. The equity ratio stands at 39.86%, suggesting a balanced capital structure but with room for improvement in reducing debt levels.

Cash Flow

Emergent Biosolutions has faced challenges in cash flow generation, with a drastic decline in free cash flow growth at -99.10% in the TTM. The operating cash flow to net income ratio is low at 0.095, indicating weak cash conversion from earnings. Additionally, the free cash flow to net income ratio is 0.108, suggesting limited free cash flow relative to net income, which could constrain future investments or debt repayments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	788.90M	1.04B	1.05B	1.12B	1.77B	1.58B
Gross Profit	456.00M	375.40M	360.00M	473.00M	793.20M	863.10M
EBITDA	215.90M	53.40M	-47.00M	15.70M	504.20M	609.20M
Net Income	75.90M	-190.60M	-760.50M	-211.60M	219.50M	305.80M
Balance Sheet
Total Assets	1.46B	1.39B	1.82B	3.17B	2.96B	2.88B
Cash, Cash Equivalents and Short-Term Investments	245.50M	99.50M	111.70M	642.60M	576.30M	621.30M
Total Debt	663.10M	676.10M	860.20M	1.43B	871.00M	923.00M
Total Liabilities	878.50M	906.90M	1.17B	1.78B	1.35B	1.44B
Stockholders Equity	582.50M	482.80M	649.30M	1.39B	1.61B	1.45B
Cash Flow
Free Cash Flow	1.40M	35.80M	-257.90M	-149.90M	96.10M	395.00M
Operating Cash Flow	13.00M	58.70M	-206.30M	-34.10M	321.10M	536.90M
Investing Cash Flow	101.90M	125.20M	212.30M	-381.30M	-225.00M	-151.90M
Financing Cash Flow	-22.20M	-190.00M	-535.70M	481.20M	-141.00M	69.50M

Emergent Biosolutions Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.34
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EBS, the sentiment is Negative. The current price of 11.34 is below the 20-day moving average (MA) of 12.17, below the 50-day MA of 11.81, and above the 200-day MA of 8.68, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 43.58 is Neutral, neither overbought nor oversold. The STOCH value of 53.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EBS.

Emergent Biosolutions Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMPH	79 Outperform	$1.22B	11.75	14.84%	―	-0.03%	-27.66%
SIGA	77 Outperform	$479.80M	6.44	39.94%	―	-0.85%	-13.50%
DVAX	73 Outperform	$1.82B	-40.55	-7.14%	―	26.73%	-310.39%
ANIP	66 Neutral	$1.84B	50.20	7.83%	―	48.87%	―
PCRX	64 Neutral	$883.66M	46.04	2.90%	―	3.14%	―
EBS	59 Neutral	$595.58M	8.76	13.92%	―	-29.91%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Emergent Biosolutions Corporate Events

Emergent BioSolutions outlines transformation and financial guidance at conference

On January 14, 2026, Emergent BioSolutions president and chief executive officer Joseph C. Papa presented at the 44th Annual J.P. Morgan Healthcare Conference, outlining the company’s role in combating global public health threats and highlighting its diverse portfolio of biodefense and naloxone products. During the presentation, Emergent underscored its 2025 revenue guidance of $775 million to $835 million, emphasized recent progress in stabilizing and right‑sizing the business through divestitures, debt reduction and share and debt repurchases, and detailed a multi‑year transformation plan aimed at improving profitability, further deleveraging, and building synergistic verticals, developments that signal an effort to strengthen its financial position and long‑term value proposition for shareholders and government customers.

The most recent analyst rating on (EBS) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Emergent Biosolutions stock, see the EBS Stock Forecast page.

Emergent BioSolutions Advances Turnaround With Major Debt Prepayment

Emergent BioSolutions announced on January 12, 2026, that it voluntarily prepaid $100 million of principal on its term loan facility in late December 2025 using cash on hand, a move the company framed as a key milestone in its multi‑year transformation and turnaround plan. With this payment, Emergent has reduced gross debt by $275 million since 2023 to about $593 million on a pro forma basis as of September 30, 2025, signaling improved financial flexibility and a stronger balance sheet for stakeholders as the company seeks long‑term stability and growth within the healthcare and biodefense sector.

The most recent analyst rating on (EBS) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Emergent Biosolutions stock, see the EBS Stock Forecast page.

Emergent BioSolutions Gains FDA Approval for Winnipeg Facility

On December 12, 2025, Emergent BioSolutions announced that the U.S. FDA approved its Winnipeg, Canada facility for the manufacturing of raxibacumab, a monoclonal antibody for treating inhalational anthrax. This approval is part of Emergent’s multi-year transformation strategy to consolidate its manufacturing operations, supporting long-term growth and enhancing its manufacturing network. The Winnipeg facility, with over 45 years of experience, will play a crucial role in the company’s strategic manufacturing partnerships and operational focus.

The most recent analyst rating on (EBS) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Emergent Biosolutions stock, see the EBS Stock Forecast page.

Emergent BioSolutions Announces Board Member Retirement

Emergent BioSolutions announced the retirement of Dr. Louis W. Sullivan from its Board of Directors, effective November 14, 2025, after 19 years of service. Dr. Sullivan, who has been a key advisor and leader, contributed significantly to the company’s mission and strategic decisions, including its ongoing multi-year transformation.

The most recent analyst rating on (EBS) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Emergent Biosolutions stock, see the EBS Stock Forecast page.

Emergent BioSolutions Raises Full-Year Revenue Guidance

On October 29, 2025, Emergent BioSolutions reported its financial results for the third quarter of 2025, with total revenues of $231.1 million, surpassing its guidance by $21 million. Despite a decrease in revenues compared to the previous year, the company experienced strong growth in its naloxone franchise, driven by NARCAN® Nasal Spray, and secured multiple contract modifications for its medical countermeasures products. The company raised its full-year revenue and profitability guidance, reflecting confidence in its product demand and strategic positioning in the market.

The most recent analyst rating on (EBS) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Emergent Biosolutions stock, see the EBS Stock Forecast page.