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Emergent Biosolutions $EBS Read from its own SEC filings · nothing written, nothing inferred

🫧 Edgar looked up EMERGENT BIOSOLUTIONS INC. ($EBS). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-10-16. 15 event filings (8-K) in the past twelve months.

🔖 Exposure: revenue $742.9M (FY2025), total debt $589.7M. Experience: revenue down 28.8% on the year, down 19.6% a year over 4 years; operating margin 13.5%, up from -10.4%. Soundness: equity 39.6% of assets, return on equity 10.1%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $437.2M and $765.1M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $379.5M to $886.5M. A statistical range, not company guidance. Against peers (114 filers, $50M+ revenue, pharmaceutical preparations): operating margin 13.5% against a -3.8% median; growth -28.8% against 13.7%.

Next year, 80%$437M–$765M
Growth, on the year−28.8%
Operating margin13.5%
Equity of assets39.6%
Credibility50%
Track record9 of 13
EMERGENT BIOSOLUTIONS INC. against its own record and its peers
Operating marginPeer median -3.8%13.5%Revenue, on the yearPeer median 13.7%-28.8%Equity of assetsPeer median 40.3%39.6%Return on equityPeer median -1.1%10.1%Gold tick: the median of 100–118 peers with $50M+ revenue in pharmaceutical preparations

Speed and cash · fiscal 2025

Cash Compass🍂 Fading · slow and jumpy, lagging its peers
Inside viewTurns 23.0% of revenue into operating cash; revenue shrinking 12.7% a year over three years; no common dividend.
Outside viewAmong $100M-1B companies: 75th percentile for cash, 9th for growth. cash growth

Both views must agree for a label · a description, not advice.

Cash flow (op · inv · fin · free)$171M · $69M · −$137M · $157M
Investment book (cash · short · long)$205M · — · — · current ratio 5.01
Revenue swing · equity of assets21.9% · 39.6%

Emergent Biosolutions is growing slower than its size class, with revenue that swings more. Its own audited SEC figures.

The figures, as filed

Fiscal year end2025-12-31
Revenue$743M
Revenue, on the year−28.8%
Revenue, a year over the record−19.6%
Operating margin13.5%
Operating margin, prior year−10.4%
Net margin7.1%
Research and development$53M · 7.2% of revenue
Total debt$590M
Equity of assets39.6%
Return on equity10.1%
Payout of profit—
Dividend per share—
Earnings per share$0.98
Book value per share$9.22
Revenue per share$13.10
Shares outstanding56,700,000
Audited years read5

Peers: the median of 114 filers with $50M+ revenue in pharmaceutical preparations.

Classic signals · fiscal 2025Altman Z″ 3.44 safe zone 1968Piotroski F 7 of 9 solid 2000Beneish M -3.56 below the −1.78 line 1999Sloan accruals -8.7% earnings backed by cash 1996DuPont ROE 10.5% = margin 7.1% × turns 0.55 × leverage 2.69

What a terminal subscription used to buy, a filing and arithmetic now give anyone. Published method, from the same filings. Display only: nothing here moves the range or its receipt. Why? →

Health HarborEmergent Biosolutions sails as: Old boat

Health watch · 12 monthsRestructuring or exit costsDirector or officer change ×4

Sailing speed follows growth: -12.7% a year crosses the harbor in 118 seconds.

🌊 Visit the Bay →
  • filed restructuring or exit costs in the last 12 months
  • slow and jumpy: growing slower than its size class, with revenue that swings more
  • revenue is hard to predict: its 80% range is ±27%

Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.

Recent filings

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company

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Data & Disclosure Notice: Edgar and Edgarette are automated software. Every figure on this page is calculated by software from public filings made by companies and funds with the U.S. Securities and Exchange Commission (EDGAR) and is published without individual human review. The accuracy and completeness of those filings are the responsibility of the filers; reports can contain errors and can be amended. Figures are shown as filed and as of each filing's date, and this page may be corrected or updated without notice. Ranges, expected returns, rankings, boats and other measures are statistical descriptions of past filings, not ratings, price forecasts, company guidance or recommendations; past results do not guarantee future results. This is general information published for all readers, not advice tailored to any person's portfolio, needs or circumstances, and nothing here is financial, investment, actuarial, legal, tax or other professional advice. Actuaries and other professionals who use these figures remain responsible for reviewing them for reasonableness and consistency against the original filings and for disclosing their reliance on them. No company, fund or reinsurer pays to be included or ranked. Provided as is, without warranty of any kind. Not affiliated with or endorsed by the SEC or by any company, fund or reinsurer named. All trademarks remain the property of their owners.