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Sunday 8 November 2026
Export KRYS’s income statement to Excel — free account
Krystal Biotech, Inc.
KRYSKrystal Biotech, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $389.1 million, up 33.9% from fiscal 2024.
- Revenue
- +30.2%
- EPS
- −22.3%
- Free cash flow
- +137.8%
Quarter to September 2026, against a year earlier
300.88
0.63
+0.21%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 51 | 291 | 389 | 470 | +177.0% | 498 | 635 | 820 | +28.2% | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 93.90 | 93.09 | 94.08 | 94.27 | +94.1 pt | ||||||
| EBT | (1) | (8) | (11) | (19) | (32) | (70) | (140) | 13 | 95 | 189 | 259 | n/m | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 25.44 | 32.82 | 48.69 | 55.06 | +48.7 pt | ||||||
| Net income | (1) | (8) | (11) | (19) | (32) | (70) | (140) | 11 | 89 | 205 | 225 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.87 | 10.16 | 13.44 | 15.87 | n/m | |||||
| Earnings | (1.31) | (1.48) | (0.97) | (1.20) | (1.71) | (3.13) | (5.49) | 0.40 | 3.12 | 7.08 | 7.66 | n/m | ||||||
| Cash flow | (1.49) | (0.73) | (0.84) | (1.18) | (1.39) | (2.16) | (3.95) | (3.27) | 4.32 | 6.94 | 10.94 | n/m | ||||||
| Capex | (0.02) | (0.04) | (0.20) | (0.40) | (0.79) | (3.08) | (2.08) | 3.25 | (0.15) | (0.40) | (0.47) | +41.9% | ||||||
| Free cash flow | (1.51) | (0.76) | (1.04) | (1.58) | (2.18) | (5.24) | (6.02) | (0.02) | 4.17 | 6.54 | 10.47 | n/m | ||||||
| Book value | 0.33 | 9.23 | 10.11 | 12.76 | 15.55 | 26.74 | 20.49 | 28.68 | 33.10 | 42.14 | 48.48 | +71.4% | ||||||
| Shares, m | 1 | 5 | 11 | 16 | 19 | 22 | 25 | 27 | 29 | 29 | 29 | +47.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 694.22 | 50.54 | 34.82 | 39.21 | 259.9 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 15.42 | 18.34 | 18.92 | 11.3 | ||||||
| P/B | — | — | — | — | — | — | — | 4.36 | 4.73 | 5.85 | 6.19 | 5.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 13.36 | 16.21 | 16.98 | 9.9 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (4,744.59) | 32.57 | 33.31 | 25.74 | (1,559.6) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (1) | (4) | (9) | (19) | (26) | (48) | (101) | (89) | 123 | 201 | 324 | n/m | |||||
| Capex | 0 | 0 | (2) | (6) | (15) | (68) | (53) | 88 | (4) | (12) | (14) | +109.2% | ||||||
| Free cash flow | (1) | (4) | (12) | (25) | (41) | (116) | (154) | (1) | 119 | 189 | 310 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 2 | 49 | 110 | 193 | 260 | 417 | 355 | 555 | 640 | 922 | 980 | +96.3% | |||||
| Net debt | 0 | (50) | (112) | (194) | (271) | (438) | (379) | (532) | (598) | (828) | (912) | +179.3% | ||||||
| Shareholders’ equity | 0 | 49 | 113 | 203 | 292 | 594 | 522 | 779 | 946 | 1,220 | 1,436 | +152.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (4.40) | (30.29) | (13.10) | (11.74) | (12.38) | (14.85) | (23.63) | 1.59 | 9.51 | 17.14 | 15.93 | +21.5 pt | |||||
| ROIC | (341.81) | 0.00 | (508.36) | (149.54) | (99.05) | (27.45) | (63.43) | (27.80) | 11.78 | 25.73 | 27.15 | +367.5 pt | ||||||
| ROE | (4.76) | (32.76) | (13.39) | (12.08) | (13.00) | (15.71) | (25.09) | 1.68 | 10.34 | 18.91 | 17.50 | +23.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 7 | 12 | 37 | 53 | 75 | 119 | 210 | 229 | 275 | 295 | — | +51.5% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.22 | 1.06 | 1.32 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Krystal Biotech, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| PCVX Vaxcyte, Inc. | $9.8B | — (loss-making) | — | — | n/m | −92.55% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| MDGL Madrigal Pharmaceuticals, Inc. | $9.3B | — (loss-making) | — (loss-making) | +50.13% (above 0%: growing) | n/m | +53.47% (above 0%: growing) | 91.23% | 12.98% | Compare |
| SYRE Spyre Therapeutics, Inc. | $9.2B | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | −108.79% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| KRYS Krystal Biotech, Inc. | $8.9B | 39.2× | 39.0× | +30.21% (above 0%: growing) | −22.26% (below 0%: shrinking) | +137.79% (above 0%: growing) | 94.07% | 55.87% | |
| TGTX TG Therapeutics, Inc. | $8.9B | 19.6× | 61.0× | +70.27% (above 0%: growing) | −73.68% (below 0%: shrinking) | +427.05% (above 0%: growing) | 82.86% | 9.02% | Compare |
| PTGX Protagonist Therapeutics, Inc. | $8.8B | 108× | 27.1× | +3,749.17% (above 0%: growing) | n/m | +839.65% (above 0%: growing) | 100.00% | 74.37% | Compare |
| IBRX ImmunityBio, Inc. | $8.5B | — (loss-making) | — (loss-making) | +93.91% (above 0%: growing) | n/m | +13.38% (above 0%: growing) | 99.42% | (120.41%) | Compare |
| ARWR Arrowhead Pharmaceuticals, Inc. | $8.1B | — (loss-making) | — (loss-making) | +171.02% (above 0%: growing) | n/m | −15.43% (below 0%: shrinking) | 100.00% | (226.03%) | Compare |
| TWST Twist Bioscience Corporation | $7.9B | — (loss-making) | — (loss-making) | +23.24% (above 0%: growing) | n/m | −7.23% (below 0%: shrinking) | 52.76% | (30.65%) | Compare |
| Median of peers | $8.8B | — | — | +70.27% | — | +3.08% | 87.05% | 0.00% |
From the latest earnings call
- CEO Krish Krishnan said Krystal was negotiating European pricing and reimbursement, while Laurent Goux reported that over 180 patients had been treated in Western Europe and Japan.
- Krishnan said Krystal was aiming to initiate at least two more registrational trials in 2027, including potentially in cystic fibrosis and Hailey-Hailey disease, assuming supportive data.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
99.94%
Held by the ten largest
66.41%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Fidelity (FMR) | 4.42m | 14.93% | +44.21k |
| BlackRock | 4.18m | 14.13% | +240.98k |
| Vanguard | 3.05m | 10.30% | +205.62k |
| Avoro Capital Advisors LLC | 2.89m | 9.76% | 0.00 |
| State Street | 1.35m | 4.57% | +36.72k |
| Soleus Capital Management, L.P. | 939.25k | 3.17% | −213.83k |
| Capital Group | 777.84k | 2.63% | −46.88k |
| Geode Capital Management | 698.99k | 2.36% | +55.02k |
| T. Rowe Price | 687.40k | 2.32% | +202.33k |
| Hood River Capital Management LLC | 663.38k | 2.24% | +43.79k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 3 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 10.44m | 22.80m | 410.90 |
| 2024 | 15.60m | 19.83m | 282.95 |
| 2023 | 6.22m | 11.69m | 224.07 |
| 2022 | 3.26m | 4.30m | 143.08 |
| 2021 | 7.35m | 6.80m | 126.28 |
Ownership
Directors and executive officers, together
13.10%
FMR LLC
14.60%
BlackRock, Inc.
13.40%
Avoro Capital Advisors LLC
8.70%
Krish S. Krishnan
6.00%
Suma M. Krishnan
5.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Krystal Biotech, Inc. (KRYS) Latest News
2 Nov
26 Oct
15 Oct
8 Oct
4 Aug
3 Aug
KRYS metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Altman Z-score
Krystal Biotech discovers, develops, manufactures and sells genetic medicines. Its commercial product, VYJUVEK, treats wounds in people with dystrophic epidermolysis bullosa, or DEB, a rare inherited disease that makes skin fragile and prone to blistering and tearing. Krish S. Krishnan is chairman and chief executive officer.
VYJUVEK is a gel applied directly to an open wound. It delivers copies of a gene that provides skin cells with instructions to make type VII collagen, a protein needed to bind layers of skin together. Treatment can be repeated, and administration can take place at home or in a healthcare setting. Depending on local approval and circumstances, a healthcare professional, caregiver or patient can apply it.