Aquestive Therapeutics, Inc. (AQST) vs Kamada Ltd. (KMDA)

Aquestive Therapeutics, Inc. and Kamada Ltd. are both Drug Manufacturers Specialty & Generic companies. Aquestive Therapeutics, Inc. is the larger, with a market value of $509.6M against $451.7M — 1.1× the size. Aquestive Therapeutics, Inc. has negative trailing earnings, so its P/E is not meaningful; Kamada Ltd. trades at 20.4×. Aquestive Therapeutics, Inc. grew revenue faster over the last twelve months: 22.6% against 13.2%. Kamada Ltd. has the higher net margin (11.6% vs −144.6%) and the higher return on invested capital (8.47% vs 0.00%). Across the 18 metrics below, Kamada Ltd. leads on 13 and Aquestive Therapeutics, Inc. on 5.

Valuation

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
P/E n/m 20.45 19.25
P/S 8.74 2.34 2.11
P/B n/m 1.67 1.78
Price to free cash flow n/m 17.09 16.14
EV/EBITDA n/m 9.19 12.58
EV/Sales 7.85 2.07 2.73
Earnings yield (17.20%) 4.89% (4.38%)
Free cash flow yield (9.73%) 5.85% 0.00%

Profitability

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Gross margin 67.04% 40.82% 53.94%
Operating margin (97.52%) 14.51% 0.00%
Net margin (144.63%) 11.60% 0.00%
Free cash flow margin (84.95%) 13.72% 0.00%
Return on equity 121.12% 8.40% (0.40%)
Return on assets (69.29%) 5.92% (3.32%)
Return on invested capital 0.00% 8.47% 0.00%

Growth

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 22.56% 13.17% 10.01%
EPS growth (last fiscal year) (52.94%) 40.00% 49.06%
Revenue growth, 5-year CAGR (0.58%) 6.25% 6.74%
Net income growth, 5-year CAGR 0.00% 3.34% 0.00%

Health

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Debt to equity (0.90) 0.02 0.05
Current ratio 7.19 4.06 2.31
Net debt to EBITDA 1.57 (1.59) 0.97

Dividend

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Dividend yield — 5.41% 1.57%
Payout ratio — 1.11 0.27

Size

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Market cap 509.58m 451.71m 276.90m

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