EBS vs. BTDR

Last updated Jun 23, 2026

EBS (Emergent BioSolutions Inc.) and BTDR (Bitdeer Technologies Group Class A Ordinary Shares) are both stocks. EBS operates in Drug Manufacturers - Specialty & Generic (Healthcare), while BTDR operates in Software - Application (Technology). Over the past 3 years, EBS returned -5.56%/yr vs 15.30%/yr for BTDR. At a 0.27 correlation, their price movements are largely independent.

Performance

EBS vs. BTDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Emergent BioSolutions Inc. (EBS) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EBS achieves a -36.49% return, which is significantly lower than BTDR's 55.49% return.

EBS

• 1D: -1.88%
• 1M: -7.10%
• YTD: -36.49%
• 6M: -38.72%
• 1Y: 26.21%
• 3Y*: -5.56%
• 5Y*: -33.43%
• 10Y*: -11.85%

BTDR

• 1D: -2.79%
• 1M: 18.98%
• YTD: 55.49%
• 6M: 54.52%
• 1Y: 54.52%
• 3Y*: 15.30%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EBS vs. BTDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EBS Emergent BioSolutions Inc.	-36.49%	29.29%	298.33%	-80.63%
BTDR Bitdeer Technologies Group Class A Ordinary Shares	55.49%	-48.27%	119.78%	20.10%

Correlation

The correlation between EBS and BTDR is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 13, 2023	0.27

Fundamentals

EPS EBS : -$0.37 BTDR : -$2.23
PS Ratio EBS : 0.49 BTDR : 5.33
Total Revenue (TTM) EBS : $676.80M BTDR : $739.06M
Gross Profit (TTM) EBS : $292.40M BTDR : $25.18M
EBITDA (TTM) EBS : $126.60M BTDR : $59.65M

Return for Risk

EBS vs. BTDR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EBS

EBS Risk / Return Rank: 57
EBS Sharpe Ratio Rank: 54
EBS Sortino Ratio Rank: 59
EBS Omega Ratio Rank: 60
EBS Calmar Ratio Rank: 56
EBS Martin Ratio Rank: 54

BTDR

BTDR Risk / Return Rank: 61
BTDR Sharpe Ratio Rank: 61
BTDR Sortino Ratio Rank: 65
BTDR Omega Ratio Rank: 62
BTDR Calmar Ratio Rank: 59
BTDR Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EBS vs. BTDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Emergent BioSolutions Inc. (EBS) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EBS	BTDR	Difference
Sharpe ratio: Return per unit of total volatility	0.32	0.55	-0.23
Sortino ratio: Return per unit of downside risk	1.15	1.43	-0.28
Omega ratio: Gain probability vs. loss probability	1.16	1.17	-0.02
Calmar ratio: Return relative to maximum drawdown	0.59	0.76	-0.17
Martin ratio: Return relative to average drawdown	1.06	1.27	-0.21

EBS vs. BTDR - Sharpe Ratio Comparison

The current EBS Sharpe Ratio is 0.32, which is lower than the BTDR Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of EBS and BTDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EBS vs. BTDR - Drawdown Comparison

The maximum EBS drawdown since its inception was -98.89%, which is greater than BTDR's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for EBS and BTDR.

Drawdown Indicators

	EBS	BTDR	Difference
Max Drawdown Largest peak-to-trough decline	-98.89%	-79.52%	-19.37%
Max Drawdown (1Y) Largest decline over 1 year	-44.24%	-71.89%	+27.65%
Max Drawdown (3Y) Largest decline over 3 years	-83.91%	-79.52%	-4.39%
Max Drawdown (5Y) Largest decline over 5 years	-97.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.89%	—	—
Current Drawdown Current decline from peak	-94.18%	-33.22%	-60.96%
Average Drawdown Average peak-to-trough decline	-41.23%	-43.54%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.81%	42.95%	-18.14%

Volatility

EBS vs. BTDR - Volatility Comparison

The current volatility for Emergent BioSolutions Inc. (EBS) is 17.79%, while Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a volatility of 29.98%. This indicates that EBS experiences smaller price fluctuations and is considered to be less risky than BTDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBS	BTDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.79%	29.98%	-12.19%
Volatility (6M) Calculated over the trailing 6-month period	48.07%	68.19%	-20.12%
Volatility (1Y) Calculated over the trailing 1-year period	82.47%	100.21%	-17.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	102.28%	122.95%	-20.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.78%	122.95%	-43.17%

Dividends

EBS vs. BTDR - Dividend Comparison

Neither EBS nor BTDR has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BTDR Bitdeer Technologies Group Class A Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBS Emergent BioSolutions Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.65%

Financials

EBS vs. BTDR - Profitability Comparison

The chart below illustrates the profitability comparison between Emergent BioSolutions Inc. and Bitdeer Technologies Group Class A Ordinary Shares over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Emergent BioSolutions Inc. reported a gross profit of 61.20M and revenue of 156.10M. Therefore, the gross margin over that period was 39.2%.

BTDR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a gross profit of -39.04M and revenue of 188.93M. Therefore, the gross margin over that period was -20.7%.

EBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Emergent BioSolutions Inc. reported an operating income of 0.00 and revenue of 156.10M, resulting in an operating margin of 0.0%.

BTDR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bitdeer Technologies Group Class A Ordinary Shares reported an operating income of -86.73M and revenue of 188.93M, resulting in an operating margin of -45.9%.

EBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Emergent BioSolutions Inc. reported a net income of 0.00 and revenue of 156.10M, resulting in a net margin of 0.0%.

BTDR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a net income of -159.53M and revenue of 188.93M, resulting in a net margin of -84.4%.

Frequently Asked Questions

Can I hold both EBS and BTDR in my portfolio?

EBS and BTDR have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBS or BTDR?

BTDR has higher volatility (29.98%) compared to EBS (17.79%). In terms of maximum drawdown, EBS dropped -98.89% vs BTDR's -79.52%.

Which has better risk-adjusted returns?

BTDR currently has the higher Sharpe Ratio (0.55 vs 0.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.