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 ($415.3M and $396.3M). Tilray Brands, Inc. has negative trailing earnings, so its P/E is not meaningful; Kamada Ltd. trades at 18.1×. 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 18.13 n/m 20.55
P/S 2.08 0.39 2.08
P/B 1.48 0.23 1.79
Price to free cash flow 15.16 n/m 16.29
EV/EBITDA 8.01 n/m 12.22
EV/Sales 1.80 0.52 2.87
Earnings yield 5.52% (49.82%) (15.94%)
Free cash flow yield 6.60% (49.10%) 0.00%

Profitability

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
Gross margin 40.82% 29.12% 53.51%
Operating margin 14.51% (9.26%) 0.00%
Net margin 11.60% (17.05%) (2.45%)
Free cash flow margin 13.72% (19.10%) 0.00%
Return on equity 8.40% (10.50%) (0.80%)
Return on assets 5.92% (7.45%) (1.67%)
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% 5.22%
EPS growth (last fiscal year) 40.00% 95.57% 42.91%
Revenue growth, 5-year CAGR 6.25% 7.82% 7.24%
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 0.04
Current ratio 4.06 1.88 2.41
Net debt to EBITDA (1.59) 11.34 1.01

Dividend

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

Size

Metric KMDA TLRY Drug Manufacturers Specialty & Generic median
Market cap 396.33m 415.28m 315.39m

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