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 $460.0M against $396.3M — 1.2× the size. Aquestive Therapeutics, Inc. has negative trailing earnings, so its P/E is not meaningful; Kamada Ltd. trades at 18.1×. Kamada Ltd. grew revenue faster over the last twelve months: 13.2% against 12.5%. Kamada Ltd. has the higher net margin (11.6% vs −162.3%) and the higher return on invested capital (8.47% vs 0.00%). Across the 18 metrics below, Kamada Ltd. leads on 14 and Aquestive Therapeutics, Inc. on 4.

Valuation

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
P/E n/m 18.13 20.55
P/S 9.36 2.08 2.08
P/B n/m 1.48 1.79
Price to free cash flow n/m 15.16 16.29
EV/EBITDA n/m 8.01 12.22
EV/Sales 8.55 1.80 2.87
Earnings yield (17.62%) 5.52% (15.94%)
Free cash flow yield (8.90%) 6.60% 0.00%

Profitability

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Gross margin 65.34% 40.82% 53.51%
Operating margin (114.12%) 14.51% 0.00%
Net margin (162.33%) 11.60% (2.45%)
Free cash flow margin (83.33%) 13.72% 0.00%
Return on equity 211.59% 8.40% (0.80%)
Return on assets (56.05%) 5.92% (1.67%)
Return on invested capital 0.00% 8.47% 0.00%

Growth

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 12.54% 13.17% 5.22%
EPS growth (last fiscal year) (52.94%) 40.00% 42.91%
Revenue growth, 5-year CAGR (0.58%) 6.25% 7.24%
Net income growth, 5-year CAGR 0.00% 3.34% 0.00%

Health

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Debt to equity (0.72) 0.02 0.04
Current ratio 6.12 4.06 2.41
Net debt to EBITDA 1.57 (1.59) 1.01

Dividend

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Dividend yield — 6.10% 1.45%
Payout ratio — 1.11 0.27

Size

Metric AQST KMDA Drug Manufacturers Specialty & Generic median
Market cap 460.01m 396.33m 315.39m

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