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ADC Therapeutics (ADCT) Financials

ADC Therapeutics logo
$1.18 -0.05 (-3.69%)
Closing price 07/24/2026 03:59 PM Eastern
Extended Trading
$1.14 -0.03 (-2.55%)
As of 07/24/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for ADC Therapeutics

Annual Income Statements for ADC Therapeutics

This table shows ADC Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -123 -118 -224 -230 -157 -240 -158
Consolidated Net Income / (Loss)		 -123 -116 -246 -230 -157 -240 -158
Net Income / (Loss) Continuing Operations		 -123 -118 -224 -229 -157 -240 -158
Total Pre-Tax Income 		-123 -116 -246 -229 -147 -195 -156
Total Operating Income		 -126 -119 -219 -229 -123 -166 -131
Total Gross Profit		 1.14 2.34 0.00 0.00 207 67 65
Total Revenue		 1.14 2.34 0.00 0.00 210 70 71
Operating Revenue		 1.14 2.34 0.00 - 210 70 71
Total Cost of Revenue		 0.00 0.00 0.00 0.00 3.30 2.53 5.95
Operating Cost of Revenue		 - 0.00 0.00 - 3.30 2.53 5.95
Total Operating Expenses		 127 122 219 229 330 233 196
Selling, General & Admin Expense		 8.77 14 55 71 74 48 42
Marketing Expense		 0.00 0.00 22 - 69 57 44
Research & Development Expense		 118 108 142 158 186 127 110
Total Other Income / (Expense), net		 3.07 2.10 -4.09 0.00 -23 -29 -25
Interest Expense		 - - - - 79 46 50
Interest & Investment Income		 2.86 2.25 0.83 - 2.57 11 12
Other Income / (Expense), net		 0.21 -0.16 -4.93 - 53 6.35 12
Income Tax Expense		 0.22 0.58 0.33 - 0.23 39 0.17
Other Gains / (Losses), net		 - - - - -10 -5.53 -1.54
Basic Earnings per Share		 ($2.64) ($2.36) ($3.77) - ($2.01) ($2.94) ($1.62)
Weighted Average Basic Shares Outstanding		 - - 76.72M 153.62M 78.15M 81.71M 97.16M
Diluted Earnings per Share		 ($2.64) ($2.36) ($3.77) - ($2.01) ($2.94) ($1.62)
Weighted Average Diluted Shares Outstanding		 - - 76.72M 153.62M 78.15M 81.71M 97.16M
Weighted Average Basic & Diluted Shares Outstanding		 - - 76.72M 153.62M 80.64M 82.53M 99.08M

Quarterly Income Statements for ADC Therapeutics

This table shows ADC Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -47 -85 -47 -37 -44 -31 -39 -57 -41 -33
Consolidated Net Income / (Loss)		 -47 -85 -47 -37 -44 -31 -39 -57 -41 -33
Net Income / (Loss) Continuing Operations		 -47 -85 -47 -37 -44 -31 -39 -57 -41 -33
Total Pre-Tax Income 		-45 -40 -46 -36 -44 -31 -38 -55 -41 -33
Total Operating Income		 -36 -40 -34 -29 -36 -32 -28 -44 -31 -25
Total Gross Profit		 14 16 16 16 18 16 21 18 15 17
Total Revenue		 14 17 18 17 18 17 23 19 16 21
Operating Revenue		 14 17 18 17 18 17 23 19 16 21
Total Cost of Revenue		 0.21 1.19 2.51 1.22 0.85 1.37 2.06 0.84 1.20 3.62
Operating Cost of Revenue		 0.21 - 2.51 1.22 0.85 1.37 2.06 0.84 1.20 3.62
Total Operating Expenses		 50 56 49 45 53 48 49 62 46 42
Selling, General & Admin Expense		 9.62 11 12 10 10 9.62 9.96 8.82 8.33 9.90
Marketing Expense		 14 14 11 11 11 11 11 10 11 13
Research & Development Expense		 27 30 26 24 33 27 29 30 27 20
Total Other Income / (Expense), net		 -9.25 0.11 -12 -6.67 -8.06 1.39 -9.97 -11 -10.00 -7.72
Interest Expense		 13 13 12 13 13 12 12 13 13 12
Interest & Investment Income		 2.70 3.29 2.95 3.25 3.44 2.63 2.05 1.93 2.47 1.99
Other Income / (Expense), net		 0.86 9.73 -2.60 2.75 1.62 11 0.20 -0.18 0.93 2.63
Income Tax Expense		 -0.09 43 0.16 0.23 0.09 -0.32 0.17 1.25 0.00 0.00
Basic Earnings per Share		 ($0.57) ($1.04) ($0.56) ($0.38) ($0.42) ($0.26) ($0.36) ($0.50) ($0.30) ($0.21)
Weighted Average Basic Shares Outstanding		 82.26M 81.71M 82.55M 95.69M 104.82M 97.16M 107.20M 113.74M 136.45M 154.14M
Diluted Earnings per Share		 ($0.57) ($1.04) ($0.56) ($0.38) ($0.42) ($0.26) ($0.36) ($0.50) ($0.30) ($0.21)
Weighted Average Diluted Shares Outstanding		 82.26M 81.71M 82.55M 95.69M 104.82M 97.16M 107.20M 113.74M 136.45M 154.14M
Weighted Average Basic & Diluted Shares Outstanding		 - 82.53M 82.81M 96.65M 96.69M 99.08M 99.18M 112.50M 123.88M 127.19M

Annual Cash Flow Statements for ADC Therapeutics

This table details how cash moves in and out of ADC Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -124 -23 323 39 -140 -48 -28
Net Cash From Operating Activities		 -121 -121 -169 -174 -138 -119 -124
Net Cash From Continuing Operating Activities		 -122 -121 -171 -174 -138 -119 -124
Net Income / (Loss) Continuing Operations		 -123 -116 -246 -230 -157 -240 -158
Consolidated Net Income / (Loss)		 -123 -116 -246 -230 -157 -240 -158
Depreciation Expense		 - 1.62 - 2.50 1.06 1.19 1.33
Amortization Expense		 - 0.03 0.05 0.13 17 24 31
Non-Cash Adjustments To Reconcile Net Income		 -1.18 -4.42 63 56 76 19 8.96
Changes in Operating Assets and Liabilities, net		 2.06 -1.47 12 -3.20 -75 76 -7.35
Net Cash From Investing Activities		 -2.51 -0.36 -2.83 -3.43 -0.69 -3.22 -0.87
Net Cash From Continuing Investing Activities		 -2.47 -0.36 -2.81 -3.43 -0.69 -3.22 -0.87
Purchase of Property, Plant & Equipment		 -0.94 -0.36 -0.80 -3.43 -0.69 -3.22 -0.87
Net Cash From Financing Activities		 -0.02 101 495 -0.98 -0.90 74 97
Net Cash From Continuing Financing Activities		 0.00 101 495 -0.98 -0.90 74 97
Issuance of Common Equity		 0.00 102 433 0.00 6.13 0.77 98
Other Financing Activities, net		 0.00 - 0.05 - -1.32 73 -0.94
Cash Interest Paid		 - 0.16 - 5.28 10 15 16
Cash Interest Received		 - 1.16 - 0.06 1.95 9.73 14

Quarterly Cash Flow Statements for ADC Therapeutics

This table details how cash moves in and out of ADC Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Net Change in Cash & Equivalents		 -37 -32 -44 66 -26 -23 -56 70 -30 -30
Net Cash From Operating Activities		 -37 -32 -44 -33 -25 -22 -56 -24 -30 -30
Net Cash From Continuing Operating Activities		 -37 -32 -44 -33 -25 -22 -57 -24 -30 -30
Net Income / (Loss) Continuing Operations		 -47 -85 -47 -37 -44 -31 -39 -57 -41 -33
Consolidated Net Income / (Loss)		 -47 -85 -47 -37 -44 -31 -39 -57 -41 -33
Amortization Expense		 7.27 11 7.37 7.37 9.18 8.61 7.26 8.47 8.25 7.06
Non-Cash Adjustments To Reconcile Net Income		 3.94 2.55 3.97 0.06 0.90 1.84 3.58 9.52 3.01 0.90
Changes in Operating Assets and Liabilities, net		 -1.48 40 -9.41 -4.31 9.01 -1.92 -29 15 0.07 -4.76
Net Cash From Investing Activities		 -0.66 -0.33 -0.53 -0.03 -0.22 -0.09 -0.26 - - -0.03
Net Cash From Continuing Investing Activities		 -0.66 -0.33 -0.53 -0.03 -0.22 -0.09 -0.26 - - -0.03
Purchase of Property, Plant & Equipment		 -0.66 -0.33 -0.53 -0.03 -0.22 -0.09 -0.26 - - -0.03
Net Cash From Financing Activities		 0.35 -0.00 0.36 99 -0.88 -1.12 0.27 94 -0.20 -0.58
Net Cash From Continuing Financing Activities		 0.35 -0.00 0.36 99 -0.88 -1.12 0.27 94 -0.20 -0.58
Issuance of Common Equity		 0.35 -0.00 0.32 99 -0.99 - 0.27 94 -0.48 -0.02
Other Financing Activities, net		 - - 0.03 0.04 0.11 -1.12 0.00 -0.22 0.28 -0.56
Other Net Changes in Cash		 - - -0.04 0.01 - - 0.16 - - -0.01
Cash Interest Paid		 3.91 3.96 3.90 3.97 4.07 3.76 3.59 3.62 3.66 3.40
Cash Interest Received		 2.70 1.86 4.38 3.25 3.44 2.63 2.05 1.93 2.47 1.99

Annual Balance Sheets for ADC Therapeutics

This table presents ADC Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 138 514 618 491 355 322 323
Total Current Assets		 123 450 525 435 336 307 306
Cash & Equivalents		 116 439 467 326 279 251 261
Accounts Receivable		 - 0.00 30 73 25 20 29
Inventories, net		 - 0.00 11 12 16 18 4.18
Prepaid Expenses		 - - - 23 10 8.37 5.61
Other Current Assets		 7.06 11 17 - 5.99 9.45 6.08
Plant, Property, & Equipment, net		 1.38 1.63 4.07 3.36 5.62 5.08 0.00
Total Noncurrent Assets		 14 62 89 53 13 9.52 17
Other Noncurrent Operating Assets		 5.27 3.53 7.86 7.81 11 9.52 17
Total Liabilities & Shareholders' Equity		 138 514 618 491 355 322 323
Total Liabilities		 27 178 452 411 503 525 509
Total Current Liabilities		 20 40 74 82 68 80 70
Short-Term Debt		 0.00 3.63 6.58 - - - 3.00
Accounts Payable		 3.33 5.28 12 12 16 18 9.18
Accrued Expenses		 15 30 50 68 52 62 58
Other Current Liabilities		 1.13 1.00 1.03 1.10 - - 0.00
Total Noncurrent Liabilities		 6.58 138 378 329 435 444 439
Long-Term Debt		 0.00 35 125 110 113 114 112
Other Noncurrent Operating Liabilities		 0.00 97 242 220 323 331 326
Commitments & Contingencies		 - - - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 111 336 166 79 -148 -203 -186
Total Preferred & Common Equity		 111 336 166 79 -148 -203 -186
Total Common Equity		 -439 -646 -816 79 -148 -203 -186
Common Stock		 4.36 6.31 6.45 1,174 1,188 1,292 1,451
Retained Earnings		 -449 -695 -925 -1,095 -1,335 -1,493 -1,636
Treasury Stock		 -0.10 -0.00 -0.13 -0.68 -0.54 -0.22 -0.21
Accumulated Other Comprehensive Income / (Loss)		 - - - 1.82 -0.09 -1.42 -0.52

Quarterly Balance Sheets for ADC Therapeutics

This table presents ADC Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 308 372 349 273 322 290 291
Total Current Assets		 290 355 333 258 319 287 277
Cash & Equivalents		 234 300 274 195 265 235 231
Accounts Receivable		 23 23 24 32 26 23 31
Inventories, net		 16 15 16 17 18 18 4.78
Prepaid Expenses		 17 17 19 6.90 4.58 5.93 5.67
Other Current Assets		 - - - 7.18 5.66 5.52 4.27
Plant, Property, & Equipment, net		 5.79 5.48 5.72 5.16 0.00 0.00 0.00
Total Noncurrent Assets		 12 11 10 9.39 2.81 2.61 15
Other Noncurrent Operating Assets		 11 11 10 9.39 2.81 2.61 15
Total Liabilities & Shareholders' Equity		 308 372 349 273 322 290 291
Total Liabilities		 502 503 521 511 521 528 508
Total Current Liabilities		 63 58 68 58 65 62 68
Short-Term Debt		 - - - - - - 4.64
Accounts Payable		 14 11 14 16 9.62 8.12 5.30
Accrued Expenses		 49 47 53 42 55 54 58
Total Noncurrent Liabilities		 439 446 453 453 456 466 440
Long-Term Debt		 113 114 114 114 114 115 111
Other Noncurrent Operating Liabilities		 326 332 339 339 342 351 329
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -194 -132 -172 -238 -199 -238 -216
Total Preferred & Common Equity		 -194 -132 -172 -238 -199 -238 -216
Total Common Equity		 -194 -132 -172 -238 -199 -238 -216
Common Stock		 1,188 1,288 1,291 1,295 1,390 1,392 1,454
Retained Earnings		 -1,382 -1,419 -1,463 -1,532 -1,589 -1,630 -1,669
Treasury Stock		 -0.50 -0.24 -0.22 -0.21 -0.21 -0.21 -0.21
Accumulated Other Comprehensive Income / (Loss)		 -0.20 -0.34 0.20 -1.09 -0.39 -0.70 -0.80

Annual Metrics And Ratios for ADC Therapeutics

This table displays calculated financial ratios and metrics derived from ADC Therapeutics' official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 105.26% -100.00% 0.00% 0.00% -66.86% 1.84%
EBITDA Growth		 0.00% 6.22% -90.10% -1.20% 76.81% -155.04% 36.04%
EBIT Growth		 0.00% 4.91% -87.52% -2.35% 69.26% -126.30% 25.96%
NOPAT Growth		 0.00% 5.19% -83.64% -4.65% 46.25% -34.57% 21.29%
Net Income Growth		 0.00% 5.37% -111.44% 6.60% 31.69% -52.78% 34.25%
EPS Growth		 0.00% 10.61% -59.75% 0.00% 0.00% -46.27% 44.90%
Operating Cash Flow Growth		 0.00% 0.53% -39.76% -3.41% 20.73% 14.19% -4.34%
Free Cash Flow Firm Growth		 0.00% 0.00% 47.94% -57.97% -111.44% 137.85% -223.15%
Invested Capital Growth		 0.00% 0.00% -22,223.99% -83.35% 28.63% -117.94% -7.64%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.17%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.97%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.70%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.46%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.60%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32.50%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.32%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -2.36%
Profitability Metrics		 - - - - - - -
Gross Margin		 100.00% 100.00% 0.00% 0.00% 98.43% 96.36% 91.60%
EBITDA Margin		 -11,028.77% -5,038.85% 0.00% 0.00% -25.06% -192.85% -121.12%
Operating Margin		 -11,047.46% -5,102.52% 0.00% 0.00% -58.76% -238.63% -184.44%
EBIT Margin		 -11,028.77% -5,109.19% 0.00% 0.00% -33.61% -229.50% -166.86%
Profit (Net Income) Margin		 -10,797.89% -4,977.95% 0.00% 0.00% -74.86% -345.11% -222.83%
Tax Burden Percent		 100.18% 100.50% 100.13% 100.24% 107.02% 122.84% 101.10%
Interest Burden Percent		 97.73% 96.94% 109.71% 100.00% 208.13% 122.42% 132.10%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -104.79% -110.28% -91.72% -127.99% 697.85% 89.97%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -86.83% 0.00% 0.00% -12.72% -37.75% -34.93%
Return on Assets (ROA)		 0.00% -84.60% 0.00% 0.00% -28.34% -56.77% -46.65%
Return on Common Equity (ROCE)		 0.00% 413.65% 267.72% 267.20% 383.79% 697.85% 89.97%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -104.79% -73.41% -138.50% -197.77% 161.93% 77.89%
Net Operating Profit after Tax (NOPAT)		 -88 -84 -153 -161 -86 -116 -91
NOPAT Margin		 -7,733.22% -3,571.77% 0.00% 0.00% -41.13% -167.04% -129.11%
Net Nonoperating Expense Percent (NNEP)		 0.00% -58.94% -33.27% -17.02% -23.86% -63.22% -43.57%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 327.12% 102.75%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 1.57% 3.64% 8.40%
SG&A Expenses to Revenue		 769.12% 606.92% 0.00% 0.00% 35.46% 69.62% 59.14%
R&D to Revenue		 10,378.33% 4,595.60% 0.00% 0.00% 88.83% 182.76% 154.77%
Operating Expenses to Revenue		 11,147.46% 5,202.52% 0.00% 0.00% 157.19% 334.99% 276.05%
Earnings before Interest and Taxes (EBIT)		 -126 -120 -224 -229 -71 -160 -118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -126 -118 -224 -227 -53 -134 -86
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 3.71 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 3.71 0.00 0.00
Price to Revenue (P/Rev)		 204.09 99.43 0.00 0.00 1.41 1.92 2.72
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 286.73 0.00 0.00 0.34 0.00 0.78
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.04 0.12 0.83 1.38 -0.76 -0.56
Long-Term Debt to Equity		 0.00 0.04 0.11 0.80 1.38 -0.76 -0.56
Financial Leverage		 0.00 -1.00 -1.25 -1.63 -2.42 5.70 0.87
Leverage Ratio		 0.00 1.24 1.46 2.26 4.52 -12.29 -1.93
Compound Leverage Factor		 0.00 1.20 1.60 2.26 9.40 -15.05 -2.55
Debt to Total Capital		 0.00% 3.39% 10.86% 45.50% 58.00% -317.38% -127.66%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.96% 2.16% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 3.39% 9.89% 43.34% 58.00% -317.38% -127.66%
Preferred Equity to Total Capital		 0.00% 477.96% 260.66% 322.17% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -381.35% -171.52% -267.67% 42.00% 417.38% 227.66%
Debt to EBITDA		 0.00 -0.03 -0.18 -0.61 -2.09 -0.84 -1.32
Net Debt to EBITDA		 0.00 0.95 1.99 1.63 4.27 1.25 1.60
Long-Term Debt to EBITDA		 0.00 -0.03 -0.17 -0.58 -2.09 -0.84 -1.32
Debt to NOPAT		 0.00 -0.05 -0.27 -0.86 -1.27 -0.97 -1.24
Net Debt to NOPAT		 0.00 1.34 2.91 2.30 2.60 1.44 1.50
Long-Term Debt to NOPAT		 0.00 -0.05 -0.24 -0.82 -1.27 -0.97 -1.24
Altman Z-Score		 0.00 -1.25 -1.06 -0.39 -1.88 -5.49 -6.42
Noncontrolling Interest Sharing Ratio		 0.00% 494.73% 342.76% 391.33% 399.87% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 6.15 11.14 7.10 5.31 4.97 3.82
Quick Ratio		 0.00 5.79 10.86 6.72 4.87 4.49 3.37
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -83 -43 -68 -144 55 -67
Operating Cash Flow to CapEx		 -12,856.14% -33,721.79% -21,064.79% -5,087.08% -20,132.61% -3,690.49% -14,283.16%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -1.83 1.18 -1.34
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 -1.75 -2.56 -2.47
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -1.76 -2.63 -2.48
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.02 0.00 0.00 0.38 0.16 0.21
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 4.07 1.42 3.11
Inventory Turnover		 0.00 0.00 0.00 0.00 0.28 0.18 0.34
Fixed Asset Turnover		 0.00 1.70 0.00 0.00 56.57 15.50 13.24
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.27 0.18 0.35
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 89.72 257.53 117.22
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 1,282.37 2,038.60 1,060.33
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 1,350.70 2,014.79 1,030.70
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 21.38 281.34 146.85
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 -0.50 -111 -203 -145 -316 -340
Invested Capital Turnover		 0.00 -9.44 0.00 0.00 -1.21 -0.30 -0.22
Increase / (Decrease) in Invested Capital		 0.00 -0.50 -110 -92 58 -171 -24
Enterprise Value (EV)		 0.00 671 927 2,162 71 -34 55
Market Capitalization		 233 233 392 1,550 295 134 192
Book Value per Share		 $0.00 ($35.83) ($8.41) ($10.63) $1.03 ($1.84) ($2.10)
Tangible Book Value per Share		 $0.00 ($36.52) ($8.55) ($10.81) $1.03 ($1.84) ($2.10)
Total Capital		 0.00 115 376 305 189 -36 -89
Total Debt		 0.00 3.90 41 139 110 113 114
Total Long-Term Debt		 0.00 3.90 37 132 110 113 114
Net Debt		 0.00 -112 -446 -369 -224 -168 -137
Capital Expenditures (CapEx)		 0.94 0.36 0.80 3.43 0.69 3.22 0.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -13 -26 -8.72 27 -9.98 -24
Debt-free Net Working Capital (DFNWC)		 0.00 103 414 458 353 269 227
Net Working Capital (NWC)		 0.00 103 410 451 353 269 227
Net Nonoperating Expense (NNE)		 35 33 93 69 71 124 66
Net Nonoperating Obligations (NNO)		 0.00 -112 -446 -369 -224 -168 -137
Total Depreciation and Amortization (D&A)		 0.00 1.65 0.05 2.63 18 25 32
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -550.77% 0.00% 0.00% 12.67% -14.34% -33.80%
Debt-free Net Working Capital to Revenue		 0.00% 4,387.31% 0.00% 0.00% 168.19% 386.18% 320.34%
Net Working Capital to Revenue		 0.00% 4,387.31% 0.00% 0.00% 168.19% 386.18% 320.34%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($3.77) ($3.00) ($1.99) ($2.94) ($1.62)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 76.72M 153.62M 80.64M 81.71M 97.16M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($3.77) ($3.00) ($1.99) ($2.94) ($1.62)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 76.72M 153.62M 80.64M 81.71M 97.16M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($3.77) ($3.00) ($1.99) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 76.72M 153.62M 80.64M 82.53M 99.08M
Normalized Net Operating Profit after Tax (NOPAT)		 -88 -84 -153 -161 -86 -116 -91
Normalized NOPAT Margin		 -7,733.22% -3,571.77% 0.00% 0.00% -41.13% -167.04% -129.11%
Pre Tax Income Margin		 -10,778.25% -4,953.08% 0.00% 0.00% -69.94% -280.94% -220.42%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -0.89 -3.45 -2.35
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -1.10 -2.51 -1.82
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -0.90 -3.52 -2.37
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -1.10 -2.58 -1.84
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% -0.14% 0.00% 0.00%

Quarterly Metrics And Ratios for ADC Therapeutics

This table displays calculated financial ratios and metrics derived from ADC Therapeutics' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
DEI Shares Outstanding		 80,642,527.00 80,642,527.00 82,529,549.00 82,814,000.00 96,647,450.00 - 99,083,838.00 99,178,286.00 112,499,395.00 123,877,111.00
DEI Adjusted Shares Outstanding		 80,642,527.00 80,642,527.00 82,529,549.00 82,814,000.00 96,647,450.00 - 99,083,838.00 99,178,286.00 112,499,395.00 123,877,111.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.58 -1.05 -0.56 -0.44 -0.45 - -0.39 -0.57 -0.36 -0.27
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% -4.94% -9.71% 27.40% 0.71% 27.59% 8.21% -11.03% -9.47%
EBITDA Growth		 0.00% 0.00% 40.35% 52.83% 11.82% 33.41% 26.34% -90.92% 10.79% 25.96%
EBIT Growth		 0.00% 0.00% 26.67% 41.21% 3.82% 28.06% 21.95% -68.63% 11.48% 19.99%
NOPAT Growth		 0.00% 0.00% 33.06% 26.75% 1.62% 18.87% 15.32% -52.02% 12.92% 11.31%
Net Income Growth		 0.00% 0.00% 21.50% 25.30% 5.90% 63.86% 17.17% -55.01% 6.83% 14.60%
EPS Growth		 0.00% 0.00% 23.29% 36.67% 26.32% 75.00% 35.71% -31.58% 28.57% 41.67%
Operating Cash Flow Growth		 0.00% 0.00% -186.48% 6.13% 31.71% 30.92% -27.76% 26.66% -18.32% 47.26%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -105.89% -100.00% -98.70% 70.65%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -7.64% -0.84% -9.70% -7.74% -3.95%
Revenue Q/Q Growth		 -24.84% 15.85% 7.52% -3.56% 6.05% -8.42% 36.21% -18.21% -12.80% 0.00%
EBITDA Q/Q Growth		 29.73% 30.56% -48.23% 34.78% -31.35% 48.65% -63.98% -71.84% 38.62% 0.00%
EBIT Q/Q Growth		 21.08% 14.27% -19.69% 27.40% -29.11% 35.88% -29.86% -56.86% 32.23% 0.00%
NOPAT Q/Q Growth		 8.83% -10.59% 15.92% 13.60% -22.46% 8.80% 12.25% -55.10% 29.85% 0.00%
Net Income Q/Q Growth		 4.49% -81.98% 45.19% 21.59% -20.32% 30.12% -25.63% -46.74% 27.68% 0.00%
EPS Q/Q Growth		 5.00% -82.46% 46.15% 32.14% -10.53% 38.10% -38.46% -38.89% 40.00% 0.00%
Operating Cash Flow Q/Q Growth		 -4.82% 13.74% -39.40% 25.51% 23.75% 12.74% -157.80% 57.24% -23.01% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 1.76% 3.05% -99.54% -1,325.59% 99.95% 50,830.38% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% -0.21% -0.62% -4.29% -2.36% 6.11% -9.45% -2.42% 0.00%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 98.56% 92.92% 86.10% 93.01% 95.39% 91.89% 91.05% 95.56% 92.68% 82.66%
EBITDA Margin		 -191.12% -114.55% -157.92% -106.81% -132.28% -75.74% -91.18% -188.44% -132.64% -74.57%
Operating Margin		 -249.42% -238.11% -186.19% -166.81% -192.61% -191.82% -123.58% -234.34% -188.53% -121.07%
EBIT Margin		 -243.49% -180.18% -200.57% -150.99% -183.82% -128.69% -122.70% -235.30% -182.89% -108.45%
Profit (Net Income) Margin		 -322.40% -506.44% -258.16% -209.90% -238.13% -181.71% -167.59% -300.68% -249.38% -158.11%
Tax Burden Percent		 102.92% 213.27% 101.86% 102.33% 100.80% 98.97% 100.43% 102.26% 100.00% 100.00%
Interest Burden Percent		 128.66% 131.80% 126.37% 135.86% 128.52% 142.67% 136.01% 124.96% 136.35% 145.79%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 697.85% 116.89% 163.22% 123.38% 89.97% 69.26% 102.73% 81.41% 0.00%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -29.64% -44.69% -27.11% -37.24% -26.94% -32.05% -52.43% -43.06% 0.00%
Return on Assets (ROA)		 0.00% -83.31% -57.52% -37.68% -48.24% -38.04% -43.78% -67.00% -58.72% 0.00%
Return on Common Equity (ROCE)		 0.00% 697.85% 116.89% 163.22% 123.38% 89.97% 69.26% 102.73% 81.41% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 116.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -25 -28 -24 -20 -25 -23 -20 -31 -22 -18
NOPAT Margin		 -174.60% -166.67% -130.33% -116.76% -134.83% -134.27% -86.51% -164.04% -131.97% -84.75%
Net Nonoperating Expense Percent (NNEP)		 0.00% -34.05% -37.84% -17.37% -23.83% -5.26% -18.41% -15.29% -13.80% -15.59%
Return On Investment Capital (ROIC_SIMPLE)		 - 78.79% 28.97% 112.96% 43.10% 25.51% 16.02% 36.48% 17.63% 17.55%
Cost of Revenue to Revenue		 1.44% 7.08% 13.90% 6.99% 4.61% 8.11% 8.95% 4.44% 7.32% 17.34%
SG&A Expenses to Revenue		 66.40% 67.27% 66.64% 58.81% 54.17% 56.91% 43.22% 46.83% 50.68% 47.46%
R&D to Revenue		 186.85% 180.64% 142.55% 139.55% 176.03% 160.27% 125.59% 159.72% 163.16% 95.33%
Operating Expenses to Revenue		 347.99% 330.86% 272.29% 259.82% 288.00% 283.71% 214.63% 329.90% 281.21% 203.74%
Earnings before Interest and Taxes (EBIT)		 -35 -30 -36 -26 -34 -22 -28 -44 -30 -23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -28 -19 -29 -19 -24 -13 -21 -36 -22 -16
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 1.92 5.40 3.92 4.31 2.72 1.84 3.44 5.98 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 3.62 1.12 2.04 0.78 0.78 1.50 4.39 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.70
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 -0.76 -0.58 -0.86 -0.66 -0.56 -0.48 -0.57 -0.48 -0.53
Long-Term Debt to Equity		 0.00 -0.76 -0.58 -0.86 -0.66 -0.56 -0.48 -0.57 -0.48 -0.51
Financial Leverage		 0.00 1.13 0.63 1.42 0.93 0.87 0.47 1.02 0.68 0.43
Leverage Ratio		 0.00 -12.29 -1.58 -2.82 -2.03 -1.93 -1.34 -2.10 -1.56 -1.24
Compound Leverage Factor		 0.00 -16.20 -2.00 -3.84 -2.61 -2.75 -1.82 -2.62 -2.12 -1.81
Debt to Total Capital		 0.00% -317.38% -139.43% -631.62% -197.71% -127.66% -91.50% -135.13% -93.68% -114.87%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -4.60%
Long-Term Debt to Total Capital		 0.00% -317.38% -139.43% -631.62% -197.71% -127.66% -91.50% -135.13% -93.68% -110.27%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 417.38% 239.43% 731.62% 297.71% 227.66% 191.50% 235.13% 193.68% 214.87%
Debt to EBITDA		 0.00 -0.84 -0.99 -1.21 -1.26 -1.32 -1.44 -1.21 -1.25 0.00
Net Debt to EBITDA		 0.00 1.25 1.06 1.99 1.76 1.60 1.02 1.58 1.30 0.00
Long-Term Debt to EBITDA		 0.00 -0.84 -0.99 -1.21 -1.26 -1.32 -1.44 -1.21 -1.25 0.00
Debt to NOPAT		 0.00 -0.97 -1.08 -1.17 -1.18 -1.24 -1.30 -1.16 -1.21 0.00
Net Debt to NOPAT		 0.00 1.44 1.17 1.92 1.65 1.50 0.92 1.52 1.26 0.00
Long-Term Debt to NOPAT		 0.00 -0.97 -1.08 -1.17 -1.18 -1.24 -1.30 -1.16 -1.21 0.00
Altman Z-Score		 0.00 -4.29 -5.12 -4.12 -4.72 -5.43 -6.89 -5.88 -6.51 -6.86
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 4.97 4.61 6.17 4.92 3.82 4.46 4.93 4.63 4.09
Quick Ratio		 0.00 4.49 4.09 5.60 4.41 3.37 3.92 4.50 4.15 3.87
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 293 298 307 1.41 -17 -0.01 4.01 -5.06
Operating Cash Flow to CapEx		 -5,548.11% -9,673.70% -8,304.14% -109,483.33% -11,593.98% -24,280.00% -21,338.64% 0.00% 0.00% -92,843.75%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 23.44 23.51 23.42 0.12 -1.41 0.00 0.30 -0.41
Operating Cash Flow to Interest Expense		 -2.86 -2.45 -3.53 -2.59 -1.91 -1.83 -4.61 -1.85 -2.21 -2.41
Operating Cash Flow Less CapEx to Interest Expense		 -2.91 -2.48 -3.57 -2.59 -1.93 -1.84 -4.63 -1.85 -2.21 -2.41
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.16 0.22 0.18 0.20 0.21 0.26 0.22 0.24 0.00
Accounts Receivable Turnover		 0.00 1.42 2.96 2.92 2.94 3.11 2.76 3.15 3.20 0.00
Inventory Turnover		 0.00 0.18 0.32 0.34 0.36 0.34 0.33 0.31 0.32 0.00
Fixed Asset Turnover		 0.00 15.50 11.86 12.17 12.36 13.24 13.86 28.17 0.00 0.00
Accounts Payable Turnover		 0.00 0.18 0.35 0.48 0.40 0.35 0.37 0.50 0.49 0.00
Days Sales Outstanding (DSO)		 0.00 257.53 123.33 125.05 124.03 117.22 132.27 115.89 113.92 0.00
Days Inventory Outstanding (DIO)		 0.00 2,038.60 1,158.74 1,082.11 1,017.22 1,060.33 1,109.73 1,174.86 1,138.17 0.00
Days Payable Outstanding (DPO)		 0.00 2,014.79 1,036.91 762.77 909.62 1,030.70 992.37 724.58 750.39 0.00
Cash Conversion Cycle (CCC)		 0.00 281.34 245.17 444.39 231.62 146.85 249.63 566.17 501.71 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 -316 -316 -318 -332 -340 -319 -349 -358 -332
Invested Capital Turnover		 0.00 -0.22 -0.43 -0.42 -0.43 -0.22 -0.24 -0.23 -0.22 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.00 -316 -318 -332 -24 -2.67 -31 -26 -13
Enterprise Value (EV)		 0.00 -34 249 75 144 55 59 116 330 349
Market Capitalization		 72 134 371 262 304 192 140 266 450 465
Book Value per Share		 $0.00 ($1.84) ($2.36) ($1.59) ($1.78) ($2.10) ($2.40) ($2.01) ($2.12) ($1.40)
Tangible Book Value per Share		 $0.00 ($1.84) ($2.36) ($1.59) ($1.78) ($2.10) ($2.40) ($2.01) ($2.12) ($1.40)
Total Capital		 0.00 -36 -81 -18 -58 -89 -124 -85 -123 -101
Total Debt		 0.00 113 113 114 114 114 114 114 115 116
Total Long-Term Debt		 0.00 113 113 114 114 114 114 114 115 111
Net Debt		 0.00 -168 -122 -187 -160 -137 -81 -150 -120 -115
Capital Expenditures (CapEx)		 0.66 0.33 0.53 0.03 0.22 0.09 0.26 0.00 0.00 0.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -9.98 -7.06 -2.39 -8.95 -24 5.49 -10 -9.63 -17
Debt-free Net Working Capital (DFNWC)		 0.00 269 227 298 265 227 200 254 225 214
Net Working Capital (NWC)		 0.00 269 227 298 265 227 200 254 225 209
Net Nonoperating Expense (NNE)		 21 57 23 16 19 8.02 19 26 19 15
Net Nonoperating Obligations (NNO)		 0.00 -168 -122 -187 -160 -137 -81 -150 -120 -115
Total Depreciation and Amortization (D&A)		 7.59 11 7.70 7.69 9.52 8.96 7.26 8.83 8.26 7.06
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -14.34% -10.29% -3.58% -12.65% -33.80% 7.25% -13.47% -12.81% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 386.18% 331.13% 446.06% 375.19% 320.34% 264.05% 329.02% 299.31% 0.00%
Net Working Capital to Revenue		 0.00% 386.18% 331.13% 446.06% 375.19% 320.34% 264.05% 329.02% 299.31% 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.04) ($0.56) ($0.38) ($0.42) ($0.26) ($0.36) ($0.50) ($0.30) ($0.21)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 81.71M 82.55M 95.69M 104.82M 97.16M 107.20M 113.74M 136.45M 154.14M
Adjusted Diluted Earnings per Share		 $0.00 ($1.04) ($0.56) ($0.38) ($0.42) ($0.26) ($0.36) ($0.50) ($0.30) ($0.21)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 81.71M 82.55M 95.69M 104.82M 97.16M 107.20M 113.74M 136.45M 154.14M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 82.53M 82.81M 96.65M 96.69M 99.08M 99.18M 112.50M 123.88M 127.19M
Normalized Net Operating Profit after Tax (NOPAT)		 -25 -28 -24 -20 -25 -23 -20 -22 -21 -18
Normalized NOPAT Margin		 -174.60% -166.67% -130.33% -116.76% -134.83% -134.27% -86.51% -115.39% -130.36% -84.75%
Pre Tax Income Margin		 -313.27% -237.47% -253.45% -205.13% -236.24% -183.61% -166.88% -294.03% -249.38% -158.11%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -2.75 -2.34 -2.90 -2.07 -2.59 -1.83 -2.31 -3.41 -2.24 -1.83
NOPAT to Interest Expense		 -1.97 -2.17 -1.88 -1.60 -1.90 -1.91 -1.63 -2.38 -1.62 -1.43
EBIT Less CapEx to Interest Expense		 -2.81 -2.37 -2.94 -2.08 -2.60 -1.83 -2.33 -3.41 -2.24 -1.83
NOPAT Less CapEx to Interest Expense		 -2.03 -2.19 -1.93 -1.61 -1.91 -1.91 -1.65 -2.38 -1.62 -1.43
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

ADC Therapeutics (NYSE: ADCT) continues to operate like a pre-profit biotech with a strong cash position, but the underlying trend is still characterized by heavy losses and persistent cash burn. Revenue has remained in a relatively narrow range over the last several quarters, while operating expenses and interest costs have kept the company deeply unprofitable.

  • Cash remains substantial: ADCT ended Q1 2026 with $231.0 million in cash and equivalents, which is still a sizable cushion for a company of this size.
  • Liquidity improved versus the end of 2024: Cash rose from $194.7 million in Q1 2025 to $231.0 million in Q1 2026, helped by financing activity in 2025.
  • Revenue has been fairly stable year over year: Q1 2026 revenue of $20.9 million was up from $18.1 million in Q1 2024 and slightly above the most recent comparable quarters.
  • Gross profit remains positive: Q1 2026 gross profit was $17.2 million, showing the company is still generating revenue above direct costs.
  • Interest and investment income partially offset borrowing costs: Q1 2026 investment income was $2.0 million, which helped cushion the impact of interest expense.
  • Balance sheet leverage is still meaningful: Total debt was about $115.7 million in Q1 2026, including $4.6 million short-term and $111.0 million long-term debt.
  • Equity remains negative: Total common equity was $(216.4) million in Q1 2026, reflecting accumulated losses and a balance sheet still under pressure.
  • Share count has climbed over time: Weighted average basic shares rose from 82.6 million in Q1 2024 to 154.1 million in Q1 2026, which can dilute per-share value.
  • Operating losses remain large: ADCT reported a Q1 2026 operating loss of $25.2 million and net loss of $33.0 million.
  • Cash burn continues: Operating cash flow was negative $29.7 million in Q1 2026, after negative $24.1 million in Q2 2025 and negative $29.6 million in Q3 2025.
  • Expenses continue to exceed revenue by a wide margin: Q1 2026 operating expenses were $42.5 million versus revenue of just $20.9 million.
  • Interest expense is a material drag: Q1 2026 interest expense was $12.3 million, a significant burden relative to revenue.
  • Quarterly losses are still substantial on a multi-year basis: The company posted losses in every quarter shown, including Q1 2024 through Q1 2026.

Bottom line: ADC Therapeutics has enough cash to keep operating for now, and revenue has shown some resilience, but the business is still far from profitability. The main investor takeaway is that ADCT remains a high-risk biotech story where the key issues are whether management can grow sales meaningfully, reduce cash burn, and avoid further dilution or financing pressure.

07/26/26 12:16 PM ETAI Generated. May Contain Errors.

ADC Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, ADC Therapeutics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

ADC Therapeutics' net income appears to be on an upward trend, with a most recent value of -$157.85 million in 2024, rising from -$123.10 million in 2018. The previous period was -$240.05 million in 2023. View ADC Therapeutics' forecast to see where analysts expect ADC Therapeutics to go next.

ADC Therapeutics' total operating income in 2024 was -$130.65 million, based on the following breakdown:
  • Total Gross Profit: $64.89 million
  • Total Operating Expenses: $195.54 million

Over the last 6 years, ADC Therapeutics' total revenue changed from $1.14 million in 2018 to $70.84 million in 2024, a change of 6,113.8%.

ADC Therapeutics' total liabilities were at $508.98 million at the end of 2025, a 3.0% decrease from 2024, and a 1,818.8% increase since 2019.

In the past 6 years, ADC Therapeutics' cash and equivalents has ranged from $115.55 million in 2019 to $466.54 million in 2021, and is currently $261.34 million as of their latest financial filing in 2025.

Over the last 6 years, ADC Therapeutics' book value per share changed from 0.00 in 2018 to -2.10 in 2024, a change of -209.6%.


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Financial statements for NYSE:ADCT last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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