企業概要
Krystal Biotech, Inc. is a commercial-stage biotechnology firm dedicated to discovering, developing, manufacturing, and commercializing genetic medicines designed to treat diseases characterized by significant unmet medical needs within the United States. The enterprise operates specifically within the Healthcare sector and the Biotechnology industry, positioning itself as a specialized entity focused on innovative therapeutic solutions rather than broad pharmaceutical manufacturing. As of the latest available data, the company holds a market capitalization of $7.60B and generates annual revenue of $389.13M, while employing a workforce of 295 individuals. These valuation and revenue figures indicate that Krystal Biotech occupies a substantial position in the biotechnology landscape, supported by a robust balance sheet that allows for continued investment in its genetic medicine portfolio without relying on external equity financing for immediate operational needs.
財務健全性
The company reported a trailing twelve-month revenue of $389.13M, with corresponding net income of $204.83M and EBITDA of $162.92M. The substantial gap between the total revenue and net income highlights an exceptionally efficient cost structure, where high operating leverage allows a significant portion of earnings to flow directly to the bottom line. The firm generated free cash flow of $93.93M, which underscores strong financial flexibility by providing ample internal capital to fund R&D initiatives, potential M&A activity, or share repurchases without needing to access capital markets frequently. Profitability is further evidenced by a gross margin of 94.1%, an operating margin of 41.3%, and a profit margin of 52.6%, all of which reflect the high-margin nature of genetic medicine sales and the company's ability to control costs effectively at scale. Regarding liquidity and leverage, Krystal Biotech holds cash reserves of $827.79M against a minimal debt load of $9.34M, resulting in a conservative balance sheet profile. This strength is quantified by a current ratio of 9.95, indicating that the company possesses nearly ten times the current assets necessary to cover its short-term liabilities, thereby minimizing liquidity risk. Furthermore, the return on equity stands at 18.9% and the return on assets is 8.4%, metrics that reveal effective management in deploying shareholder capital to generate superior returns relative to the asset base employed.
バリュエーション評価
Valuation metrics for Krystal Biotech show a trailing P/E ratio of 37.71 compared to a forward P/E of 24.42, implying that the market expects a significant acceleration in earnings growth that will bring current valuations in line with future profitability expectations over time. The price-to-book ratio is recorded at 6.18, suggesting that the market assigns a substantial premium to the company's intangible assets, intellectual property, and growth potential beyond the value of its tangible book equity. Alternative valuation measures include a price-to-sales ratio of 19.54 and an EV/EBITDA multiple of 41.33, which indicate that investors are willing to pay a high multiple for revenue and earnings, typical for high-growth biotechnology companies with limited peer comparisons. In terms of trading range, the 52-week high is $298.30 and the 52-week low is $122.80, providing a historical context for current price volatility and investor sentiment shifts over the past year. The stock exhibits a beta of 0.54, which signifies that its price volatility is less than 50% of the broader market's movements, offering a degree of stability often found in large-cap biotechnology firms despite the inherent risks of the sector.
Growth & Income
Krystal Biotech demonstrated a revenue growth rate of 17.5% year-over-year and an earnings growth rate of 11.6% for the same period. The fact that earnings are growing at a slower rate than revenue suggests that while top-line expansion is accelerating, cost base adjustments or one-time expenses are currently moderating the net income growth trajectory, a common dynamic during periods of rapid commercial scaling. As a non-dividend payer, the company maintains a dividend yield of N/A and a payout ratio of 0.0%, indicating a strategic decision to reinvest all net income into research and development, commercialization efforts, and strengthening the balance sheet rather than distributing cash to shareholders. This approach aligns with the life-cycle stage of a commercial-stage biotechnology company where capital allocation toward growth drivers is prioritized over income generation for existing shareholders. Overall, the growth and income profile is defined by robust double-digit expansion in both top-line and bottom-line figures, coupled with a zero-dividend policy that channels resources back into the core genetic medicine business to sustain long-term value creation.