WinstonWınston
Back
Stock

Emergent BioSolutions

EBS
24
Drug Manufacturers - Specialty & Generic · Healthcare
Also trades as: 0IGA.L GBP 0.06 (-0.96%)
Price
$6.23
+0.00 (+0.00%)
Market Cap
$319.4M
Winston Score
24
Winston is worried
Weak fundamentals across most pillars.
Data as of Oct 24, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
8/30
Growth
Weak
3/20
Cash Flow
Weak
2/10
Stability
Weak
2/10
Valuation
Data not available
0/10
Ownership
Good
8/15
Dividends
Not counted
n/a

23 of 95 counted points = Winston Score 24. Pillars marked n/a do not apply to this company and are left out of the total.

Track this stock — start free trial

Share count rising — dilution

+4.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 54.1M (2021) → 56.7M (2025)

§Winston Score History

The full picture

Emergent BioSolutions makes vaccines and medicines that protect people from biological threats like anthrax, smallpox, and opioid overdoses. Its most well-known products include BioThrax, the only FDA-approved anthrax vaccine in the United States, and Narcan, a nasal spray that reverses opioid overdoses. The company's main customers are government agencies, including the U.S. Department of Defense and the Strategic National Stockpile.

Emergent earns most of its revenue by selling these products directly to governments under long-term contracts, which provides some stability but also heavy dependence on a small number of buyers. The company operates primarily in the United States and also offers contract manufacturing services to other drugmakers. Emergent has faced serious challenges in recent years, including manufacturing problems and the loss of key contracts, which contributed to its negative return on invested capital and a much smaller business than it once was. Its ability to win new government contracts and stabilize its manufacturing operations will determine whether the company can recover.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+66.3% YoY

YoY Growth Rate

Revenue accelerating

Reported EPS Growth

<−1,000% YoY

Quarterly reporting periods ended:

30 Jun 2025: $-0.22

30 Jun 2026: $-3.49

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$54M/ year

↓ Declining (-24% vs prior year)

7.2% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

5.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$140M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Emergent BioSolutions grew revenue 66% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
58.6%
Premium pricing power — 58.6% gross margin
Profit after running costs
Operating Margin
-53.4%
Losing money on operations — -53.4%
Return on the money invested
ROCE
-5.9%
Weak — -5.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
-9.6%
Shrinking sales (-9.6% YoY)
Profit growth
EPS YoY
-232.3%
Earnings shrinking (-232.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
11.2%
Modest free cash flow (11.2%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
1.70
Elevated debt (1.70)
Covers its interest
Interest Cover
N/A
Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial