KRYS
Krystal Biotech, Inc.
Next earnings Aug 3, 2026 (before open) · consensus $1.79 EPS, $128M rev
Last earnings +4.1% on 2026-02-17
$375.07
▼ -0.81%$375.07▲ +170.07%
over 1Y
L $134.94H $378.15
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.8%
1W+4.2%
1M+27.9%
3M+43.7%
YTD+51.9%
1Y+170.1%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 18 analysts
Buy
Profitable rare-disease gene-therapy story: VYJUVEK at 94% gross margin, global launches ramping, debt-free, with real pipeline optionality.
Revenue $389M · FY2025
The read
The fundamentals carry the rating, but the price is rich (~31% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
Krystal Biotech has made the rare leap from clinical-stage biotech to a genuinely profitable commercial company. Its HSV-1-based gene-therapy platform produced VYJUVEK, an approved, redosable topical treatment for dystrophic epidermolysis bullosa (DEB). Revenue has scaled fast — from $50.7M in FY2023 to $291M in FY2024 to $389M in FY2025 (+33.9%) — and the economics are extraordinary for a drug: 94% product gross margin, a 41.5% operating margin and a 52.6% net margin. Net income more than doubled to $205M (+129.7%) and diluted EPS rose to $6.84.
The balance sheet is pristine — $496M cash, essentially no debt and liabilities/equity of just 0.09x — so growth is entirely self-funded. The next leg is geographic: VYJUVEK launched in Germany (August 2025), France and Japan (October 2025), with pricing negotiations underway and potential Italy, UK and Switzerland entries ahead. Cumulative net product revenue since the 2023 launch has reached $730.3M, and international markets are still early.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:49 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Is KRYS a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $50.7M | $291M | $389M |
| Gross profit | — | — | — | — | — |
| Operating income | -$68.3M | -$145M | -$110M | $65.7M | $161M |
| Net income | -$69.6M | -$140M | $10.9M | $89.2M | $205M |
| Diluted EPS | -$3.13 | -$5.49 | $0.39 | $3.00 | $6.84 |
| Net margin | — | — | 21.6% | 30.7% | 52.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$10.6B
EV / EBITDA63.9
EV / Sales27.2
EV / FCF55.9
P / FCF58.5
PEG (trailing)0.42
Earnings yield1.9%
FCF yield1.7%
Quality & risk
ROIC (est.)10.4%
Free cash flow$189M
Total debt$4.25M
Net cash$492M
Altman Z-Score59.62 safe
Piotroski F-Score5/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+1.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-252026-06-26open ↗144Filing2026-06-25open ↗4Period ending 2026-06-042026-06-05open ↗4Period ending 2026-06-042026-06-05open ↗144Filing2026-06-04open ↗144Filing2026-06-04open ↗4Period ending 2026-05-262026-05-27open ↗144Filing2026-05-26open ↗8-KPeriod ending 2026-05-152026-05-20open ↗SCHEDULE 13G/AFiling2026-05-04open ↗8-KPeriod ending 2026-05-042026-05-04open ↗10-QPeriod ending 2026-03-312026-05-04open ↗
Frequently asked
- Is Krystal Biotech, Inc. (KRYS) a buy?
- KRYS currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Profitable rare-disease gene-therapy story: VYJUVEK at 94% gross margin, global launches ramping, debt-free, with real pipeline optionality.
- What is KRYS's fair value?
- A Modified-Graham model based on KRYS's SEC fundamentals estimates a fair value of about $259.92. It is an estimate from reported earnings, not a price target.
- Is KRYS overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, KRYS currently appears overvalued relative to its SEC-grounded earnings power.
- What is Krystal Biotech, Inc.'s quality score?
- KRYS scores 76.7115214199817/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001711279, latest 10-Q filed 2026-05-04) · EODHD · Proprietary analysis · as of 6/21/2026, 8:49:35 PM.
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