Credit and interest ratesnegative · 4 filings
“Interest expense was further reduced by lower amortization of debt issuance costs, partially offset by higher non‑debt interest expense, primarily related to tax and state interest.”10-Q · May 1, 2026 ↗
Emergent BioSolutions Inc.
EBS
Market read
Emergent BioSolutions Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 37 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Company-5.4% todayVolume comparison unavailable
Market group0 of 37 activeNo Coherent Theme · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- EBS's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if EBS's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 37 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- EBS's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations318
Usable filing statements230
Verified relationships4
Evidence supporting the case
- Operating margin changed +23.9 percentage points in the latest annual period.
- Net margin changed +25.3 percentage points in the latest annual period.
- Operating cash flow covered net income at 3.24x in the latest annual period.
Evidence challenging the case
- Latest annual revenue changed -28.8% year over year.
- Diluted shares increased 7.0% in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
Questions before a position
- P/E is 16% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 56% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 9, 2026
5.686m-48.9%12m-34.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$1.8B+14.0%$4.06+0.6%
2022-12-31$1.1B-37.0%$-4.22-7.4%
2023-12-31$1.0B-6.1%$-14.85+2.2%
2024-12-31$1.0B-0.5%$-3.60+3.5%
2025-12-31$742.9M-28.8%$0.93+7.0%
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsnegative · 4 filings
“The increase was primarily driven by lower net income and a prior year non-cash impairment charge of $12.2 million related to the prior year held-for-sale write-down on certain Bioservices long-lived assets, partially offset by a decrease in cash used for acc…”10-Q · May 1, 2026 ↗
Demand and volumemixed · 3 filings
“The decrease was primarily due to lower international sales of ANTHRASIL ® , mainly to the Canadian government, coupled with lower volumes of CYFENDUS ® sales to the USG, primarily due to the impact of timing.”10-Q · May 1, 2026 ↗
Legal and regulatory exposurenegative · 2 filings
“The decline in SG&A was also due to the absence of a one-time expense of $10.0 million recognized in the prior year period and the receipt of a one-time reimbursement of $10.5 million in the current year period related to settlements of our securities and sha…”10-K · Feb 27, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.4× · EV/sales 0.9×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
5.68-5.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 9 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for EBS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for EBS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind EBS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BORAYFiling-linked namesupplierAug 7, 2025 ▾
“The loss on assets held for sale in the second quarter of 2024 is related to the sale of our Drug Product facility in Baltimore-Camden to Bora Pharmaceuticals Injectables Inc., a subsidiary of Bora Pharmaceuticals Co., Ltd.”
NATNordic American Tankers LimitedpartnerFeb 27, 2026 ▾
“In addition, the Company recognized $20.0 million of incremental income from milestone payments received in 2025 related to the sale of our travel health business to Bavarian Nordic, as well as favorable impacts from interest income increase and foreign curre…”
Depended on by
SPRYARS Pharmaceuticals, Inc.customerMar 9, 2026 ▾
“Our commercial team is led by Eric Karas, Chief Commercial Officer, who has more than 25 years of sales, marketing, market access and strategic planning experience across multiple specialty products, including leading commercial initiatives for NARCAN nasal s…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
EBS is currently a Participant in the organic co-movement group No Coherent Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for EBS; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.