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ADC Therapeutics (ADCT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

ADC Therapeutics
NYSE•Healthcare•Drug Manufacturers - Specialty & Generic
$1.06+0.01(0.01%)Market open
Market Cap
$164.32M
P/S
2.1x

ADC Therapeutics SA provides antibody drug conjugate (ADC) technology platform in Switzerland and the United States. Its flagship product includes ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S. Food and Drug Administration, conditional approval from the European Commission, and conditional approval from the China National Medical Products Administration for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. The company is also seeking to continue expanding ZYNLONTA into international markets and into earlier lines of DLBCL and indolent lymphomas, including follicular lymphoma (FL) and marginal zone lymphoma (MZL) as a single agent and in combination through its LOTIS-5 confirmatory Phase 3 clinical trial and LOTIS-7 Phase 1b clinical trial, as well as through investigator-initiated trials (IITs). In addition, it is investigating a CD-22 targeted compound' and ADCT-602 that is in a Phase 1/2 IIT in refractory B-cell acute lymphoblastic leukemia. Further, the company's pre-clinical stage pipeline includes a portfolio of next generation investigational ADCs targeting Claudin-6, NaPi2b, PSMA, NaPi2b, and ASCT2. ADC Therapeutics SA was incorporated in 2011 and is headquartered in Epalinges, Switzerland.

D

How this company scores

WeakMetricSide Score: 42/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Profitability (14/25); weakest: Balance Sheet & Red Flags (7/25).

Profitability14/25
Growth13/25
Balance Sheet & Red Flags7/25
Cash & Earnings Quality8/25
Strengths
Long cash runwayProfit converts from growthNet cash position
Grade capped at D
  • Negative equity — the balance sheet is insolvent.
  • Interest coverage below 1× (-1.8x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 2.1x5y range 2.0x – 7.3x
P/S 2.1x · below its 8-quarter median

Currently below its 8-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume
Market Cap $164.32M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$79.58M
3%
Q. Revenue
$19.25M
2Q
TTM EBITDA
$-99.55M
4Q
TTM Op. Income
$-99.55M
4Q
Q. Op. Income
$-25.41M
2Q
TTM Net Income
$-96.91M
4Q
Q. Net Income
$-16.57M
71%
EPS
$-0.11
2Q
Shares Out.
$155.02M
2Q
$79.58M in TTM revenue grew 3.0% YoY, reaching $19.25M last quarter. TTM EBITDA of $-99.55M and TTM operating income of $-99.55M show growth is flowing through to the bottom line. However, net income is negative at $96.91M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 3% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
87.8%
8%
EBITDA Margin
-132.0%
2Q
Op. Margin
-132.0%
2Q
Net Margin
-86.1%
71%
Op. margin of -132.0% is up 102.3% YoY — cost efficiency is improving. Net margin at -86.1% and gross margin of 87.8% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
2.1x
48%
P/B Ratio
N/A
P/S of 2.1x and P/B of 0.0x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$279.38M
2Q
Cash
$219.11M
2Q
Long-Term Debt
$110.44M
3Q
Book Value
$-228.21M
2Q
D/E Ratio
N/A
Debt/EBITDA
N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-11.81M
2Q
TTM Free Cash Flow
$-102.30M
2Q
FCF Margin
-128.5%
3Q
FCF / Net Income
1.1
40%
TTM FCF of $-102.30M on $-11.81M in operating cash flow. The FCF / Net Income ratio of 1.1x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.

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Revenue Decline

Watch

Revenue has softened, declining in 3 quarters. Watch for further erosion.

Cash Burn

Red Flag

The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Share Dilution

Red Flag

Shares outstanding increased 47.9% — significant dilution, likely from stock compensation or capital raises.