Adagene Inc.

ADAGNASDAQHealthcare● Active

$3.57

$-0.01(-0.28%)

Market Cap$134405495

P/E Ratio—

52W High$4.75

52W Low$1.3

Avg Volume221K

Open$3.60

Beta0.59

Overview

Adagene Inc. (ADAG) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ADAG · free cash flow · updated Jun 13, 2026

Core FCF metrics

ADAG · FCF · TTM · margin & CAGR

Free cash flow was −$15.7M for FY2025 (fiscal year ending 2025-12-31), up 47.3% year-over-year The FCF margin was -204.3%.

FY2025 Free Cash Flow−$15.7M▲ +47.3% YoY

Trailing 12M (TTM)−$45.5Mtrailing 4 quarters sum

FCF Margin-204.3%−$15.7M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 13, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ADAG · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$15.7M(0M)−$15.7M▲ +47.3%-204.3%

FY2024−$29.7M(0M)−$29.7M▼ 4.2%—

FY2023−$28.5M(0M)−$28.5M▲ +42.1%-157.6%

FY2022−$48.6M(1M)−$49.3M▼ 7.4%-530.5%

FY2021−$43.4M(3M)−$45.9M▼ 55.9%-451.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ADAG · P/FCF · FCF yield · FCF per share

Adagene Inc. (ADAG) reported negative free cash flow of −$0.02B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ADAG · cash flow statement · operating / investing / financing

For FY2025, Adagene Inc. generated −$15.7M in operating cash flow and spent 0M in capital expenditures, yielding −$15.7M in free cash flow.

Operating Activities

−$15.7M

Cash from core business operations

2025-12-31

Investing Activities

+$0.5M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$4.4M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$15.7M) − |CapEx| (0M) = FCF (−$15.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

ADAG vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Adagene Inc.YOU

ADAG

−$15.7M+47.3%-204.3%

Loss

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Adagene Inc. (ADAG) reported free cash flow of −$15.7M for FY2025 (fiscal year ending 2025-12-31), up 47.3% year-over-year. The FCF margin was -204.3%.

Adagene Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 8 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ADAG free cash flow · 8 questions

Adagene Inc. free cash flow was −$15.7M for FY2025, up 47.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$45.5M.

ADAG free cash flowADAG FCFADAG FCF 2025ADAG free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Adagene Inc. · Adagene Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 13, 2026