Kamada Ltd. (KMDA) vs Tilray Brands, Inc. (TLRY)

Kamada Ltd. and Tilray Brands, Inc. are both Drug Manufacturers Specialty & Generic companies. Kamada Ltd. and Tilray Brands, Inc. are of similar size ($474.4M and $451.7M). Tilray Brands, Inc. has negative trailing earnings, so its P/E is not meaningful; Kamada Ltd. trades at 20.4×. Tilray Brands, Inc. grew revenue faster over the last twelve months: 15.9% against 13.2%. Kamada Ltd. has the higher net margin (11.6% vs −17.1%) and the higher return on invested capital (8.47% vs −3.21%). Across the 19 metrics below, Kamada Ltd. leads on 13 and Tilray Brands, Inc. on 6.

Valuation

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
P/E 20.45 n/m 19.25
P/S 2.34 0.42 2.11
P/B 1.67 0.25 1.78
Price to free cash flow 17.09 n/m 16.14
EV/EBITDA 9.19 n/m 12.58
EV/Sales 2.07 0.56 2.73
Earnings yield 4.89% (45.40%) (4.38%)
Free cash flow yield 5.85% (43.04%) 0.00%

Profitability

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
Gross margin 40.82% 29.12% 53.94%
Operating margin 14.51% (9.26%) 0.00%
Net margin 11.60% (17.05%) 0.00%
Free cash flow margin 13.72% (18.11%) 0.00%
Return on equity 8.40% (10.50%) (0.40%)
Return on assets 5.92% (7.45%) (3.32%)
Return on invested capital 8.47% (3.21%) 0.00%

Growth

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 13.17% 15.93% 10.01%
EPS growth (last fiscal year) 40.00% 95.57% 49.06%
Revenue growth, 5-year CAGR 6.25% 7.82% 6.74%
Net income growth, 5-year CAGR 3.34% 0.00% 0.00%

Health

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
Debt to equity 0.02 0.22 0.05
Current ratio 4.06 1.88 2.31
Net debt to EBITDA (1.59) 11.34 0.97

Dividend

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

Size

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
Market cap 451.71m 474.40m 276.90m

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