Krystal Biotech (KRYS) | Financial Analysis & Statements
Krystal Biotech Inc. Mid-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
107.1M
Gross Profit
100.5M
93.85%
Operating Income
44.3M
41.33%
Net Income
51.4M
47.99%
Balance Sheet Metrics
Total Assets
1.3B
Total Liabilities
114.2M
Shareholders Equity
1.2B
Debt to Equity
0.09
Cash Flow Metrics
Operating Cash Flow
70.7M
Free Cash Flow
75.4M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Krystal Biotech Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 389.1M | 290.5M | 50.7M | 0 | 0 |
| Cost of Goods Sold | 23.0M | 20.1M | 3.1M | 0 | 0 |
| Gross Profit | 366.1M | 270.5M | 47.6M | 0 | 0 |
| Gross Margin % | 94.1% | 93.1% | 93.9% | 0.0% | 0.0% |
| Operating Expenses | |||||
| Research & Development | 58.0M | 53.6M | 46.4M | 42.5M | 27.9M |
| Selling, General & Administrative | 146.7M | 113.7M | 98.4M | 77.7M | 40.4M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 204.8M | 167.3M | 144.8M | 120.2M | 68.3M |
| Operating Income | 161.3M | 103.2M | -97.2M | -120.2M | -68.3M |
| Operating Margin % | 41.5% | 35.5% | -191.8% | 0.0% | 0.0% |
| Non-Operating Items | |||||
| Interest Income | 28.2M | 29.7M | 22.6M | 5.2M | 197.0K |
| Interest Expense | - | - | 0 | 0 | 1.5M |
| Other Non-Operating Income | - | -37.5M | 87.5M | -25.0M | - |
| Pre-tax Income | 189.5M | 95.4M | 12.9M | -140.0M | -69.6M |
| Income Tax | -15.4M | 6.2M | 2.0M | 0 | 0 |
| Effective Tax Rate % | -8.1% | 6.5% | 15.2% | 0.0% | 0.0% |
| Net Income | 204.8M | 89.2M | 10.9M | -140.0M | -69.6M |
| Net Margin % | 52.6% | 30.7% | 21.6% | 0.0% | 0.0% |
| Key Metrics | |||||
| EBITDA | 167.8M | 147.4M | -69.6M | -112.3M | -66.2M |
| EPS (Basic) | $7.08 | $3.12 | $0.40 | $-5.49 | $-3.13 |
| EPS (Diluted) | $6.84 | $3.00 | $0.39 | $-5.49 | $-3.13 |
| Basic Shares Outstanding | 28944000 | 28592000 | 27154190 | 25491721 | 22196846 |
| Diluted Shares Outstanding | 28944000 | 28592000 | 27154190 | 25491721 | 22196846 |
Income Statement Trend
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Krystal Biotech Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 496.3M | 344.9M | 358.3M | 161.9M | 341.2M |
| Short-term Investments | 331.5M | 252.7M | 173.8M | 217.3M | 96.8M |
| Accounts Receivable | 127.4M | 104.7M | 42.0M | 0 | - |
| Inventory | 40.5M | 26.5M | 7.0M | 0 | - |
| Other Current Assets | 14.9M | 13.3M | 6.7M | 4.6M | 4.2M |
| Total Current Assets | 1.0B | 742.0M | 587.9M | 383.8M | 442.3M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 40.0M | 36.6M | 34.3M | 19.9M | 12.8M |
| Goodwill | - | - | - | - | - |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 23.1M | 231.0K | 263.0K | 324.0K | 74.0K |
| Total Non-Current Assets | 309.2M | 313.8M | 230.4M | 174.7M | 184.0M |
| Total Assets | 1.3B | 1.1B | 818.4M | 558.4M | 626.3M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 3.2M | 5.0M | 4.1M | 4.0M | 8.4M |
| Short-term Debt | 1.8M | 1.2M | 1.5M | 1.6M | 1.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 3.6M | 2.4M | 2.2M | 267.0K | 87.0K |
| Total Current Liabilities | 102.9M | 102.0M | 33.1M | 28.8M | 25.7M |
| Non-Current Liabilities | |||||
| Long-term Debt | 7.6M | 6.0M | 6.6M | 7.4M | 7.0M |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 3.7M | 1.4M | - | - | - |
| Total Non-Current Liabilities | 11.3M | 7.5M | 6.6M | 7.4M | 7.0M |
| Total Liabilities | 114.2M | 109.5M | 39.7M | 36.2M | 32.7M |
| Equity | |||||
| Common Stock | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 24.2M | -180.7M | -269.8M | -280.8M | -140.8M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 1.2B | 946.4M | 778.6M | 522.2M | 593.6M |
| Key Metrics | |||||
| Total Debt | 9.3M | 7.3M | 8.1M | 8.9M | 8.0M |
| Working Capital | 921.7M | 640.0M | 554.8M | 354.9M | 416.5M |
Balance Sheet Composition
Krystal Biotech Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 204.8M | 89.2M | 10.9M | -140.0M | -69.6M |
| Depreciation & Amortization | 6.6M | 6.7M | 5.0M | 2.6M | 1.8M |
| Stock-Based Compensation | 54.5M | 49.1M | 39.9M | 33.2M | 15.3M |
| Working Capital Changes | -25.9M | -73.0M | -47.5M | -2.1M | 492.0K |
| Operating Cash Flow | 217.9M | 72.6M | 7.9M | -106.3M | -50.9M |
| Investing Activities | |||||
| Capital Expenditures | -12.0M | -4.2M | -11.8M | -53.0M | -68.3M |
| Acquisitions | - | - | - | - | - |
| Investment Purchases | -422.5M | -457.7M | -508.8M | -318.8M | -190.5M |
| Investment Sales | 375.6M | 298.5M | 503.2M | 257.7M | 32.0M |
| Investing Cash Flow | -58.4M | -163.4M | 82.6M | -114.1M | -226.8M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | - | - |
| Debt Repayment | - | - | - | - | - |
| Financing Cash Flow | -14.0M | -5.4M | 202.8M | 35.3M | 347.7M |
| Free Cash Flow | 188.9M | 119.2M | -100.6M | -153.5M | -116.3M |
| Net Change in Cash | 145.5M | -96.2M | 293.3M | -185.1M | 70.0M |
Cash Flow Trend
Krystal Biotech Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
39.86
Forward P/E
25.77
Price to Book
6.53
Price to Sales
20.63
PEG Ratio
3.31
Profitability Ratios
Profit Margin
52.64%
Operating Margin
41.33%
Return on Equity
18.91%
Return on Assets
8.44%
Financial Health
Current Ratio
9.95
Debt to Equity
0.77
Beta
0.54
Per Share Data
EPS (TTM)
$6.84
Book Value per Share
$41.78
Revenue per Share
$13.44
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| KRYS | 7.9B | 39.86 | 6.53 | 18.91% | 52.64% | 0.77 |
| Vertex | 109.4B | 28.40 | 5.92 | 22.54% | 32.94% | 10.91 |
| Regeneron | 81.0B | 18.00 | 2.45 | 14.86% | 31.41% | 9.51 |
| Axsome Therapeutics | 9.5B | -50.54 | 105.31 | -252.12% | -28.69% | 247.03 |
| Praxis Precision | 9.6B | - | 9.46 | -45.83% | 0.00% | 0.01 |
| Bio-Techne | 9.1B | 117.16 | 4.55 | 3.80% | 6.41% | 20.07 |
Financial data is updated regularly. All figures are in the company's reporting currency.






