Krystal Biotech, Inc. (KRYS) Stock Analysis
Healthcare · Biotechnology · NasdaqGS
Krystal Biotech, Inc. (KRYS) posted $389.13M in revenue for fiscal 2025 (up 33.9% year over year), at a 52.6% net margin, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Krystal Biotech, Inc.
Krystal Biotech, Inc. has grown revenue from $0 to $389.13M over the last 10 fiscal years. The most recent year was up 33.9%.
Net margin sits at 52.6%, up 21.9 points year over year.
At today's valuation the market is pricing in roughly 19.9% annual free-cash-flow growth. The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from Krystal Biotech, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Krystal Biotech, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50.70M | $290.51M | $389.13M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $-1.15M | $-7.92M | $-10.89M | $-19.09M | $-32.17M | $-69.57M | $-139.97M | $10.93M | $89.16M | $204.83M |
| Net margin | — | — | — | — | — | — | — | 21.6% | 30.7% | 52.6% |
Source: Krystal Biotech, Inc. SEC filings (10-K).
Krystal Biotech, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $304.9M but operating cash flow only $235.5M — earnings aren't fully backed by cash, an accruals flag worth investigating.
- Share count rising (dilution)Shares outstanding grew 15.8% over 4 years (25.2M → 29.2M) — existing holders' stakes are being diluted.
What growth is priced into KRYS stock?
At today's market cap of $9.23B, Krystal Biotech, Inc. is priced for free-cash-flow growth of about 19.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $188.91M from the FY ending 2025-12-31). This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 10 years of Krystal Biotech, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Krystal Biotech, Inc. financial history by metric
Compare Krystal Biotech, Inc. with peers
About Krystal Biotech, Inc.
Krystal Biotech, Inc., a commercial-stage biotechnology company, discovers, develops, manufactures, and commercializes genetic medicines to treat diseases with high unmet medical needs in the United States. The company commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB). It also develops KB803 for ocular complications of dystrophic epidermolysis bullosa; KB801 for neurotrophic keratitis; KB407, which is in Phase 1 clinical trials for treating cystic fibrosis; KB111 for Hailey-Hailey disease; KB707 for solid tumors; KB304 for dynamic wrinkles; KB707 that is in Phase 1/2 clinical trials for the treatment of anti-PD-1 relapsed/refractory; KB408, which is in Phase 1 clinical trials for treating Alpha-1 antitrypsin deficiency; and KB301 that is in Phase 2 clinical trials for treating aesthetic skin conditions, as well as in open label study with ophthalmic B-VEC for treating for ocular complications of deb. Krystal Biotech, Inc. was founded in 2016 and is headquartered in Pittsburgh, Pennsylvania.
Krystal Biotech, Inc. — frequently asked questions
What is Krystal Biotech, Inc.'s revenue?
Krystal Biotech, Inc. (KRYS) reported revenue of $389.13M for fiscal year 2025, up 33.9% from the prior year, according to its SEC filings.
Is Krystal Biotech, Inc. profitable?
Yes. KRYS earned net income of $204.83M in fiscal 2025, a net margin of 52.6%.
What is KRYS's P/E ratio?
Krystal Biotech, Inc. trades at a price-to-earnings ratio of about 42.0 based on the latest data in our nightly-refreshed cache.
How much debt does Krystal Biotech, Inc. have?
As of fiscal year 2025, KRYS carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Krystal Biotech, Inc.'s market cap?
Krystal Biotech, Inc. (KRYS) has a market capitalization of about $9.23B, based on the latest data in our nightly-refreshed cache.
When does Krystal Biotech, Inc.'s fiscal year end?
KRYS's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into KRYS stock?
At today's market cap of $9.23B, Krystal Biotech, Inc. is priced for free-cash-flow growth of about 19.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $188.91M from the FY ending 2025-12-31).
Where does this data come from?
All figures are computed from Krystal Biotech, Inc.'s official SEC filings (10-K and 10-Q), covering 10 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.