ADMA Biologics vs Krystal Biotech
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KIRAβs take AI analyst
I put ADMA Biologics and Krystal Biotech side by side, using each oneβs latest annual report. Here is what stands out:
- ADMA Biologics is the larger business, with $510M of revenue in fiscal 2025 against $389M for Krystal Biotech.
- Krystal Biotech grew revenue faster (33.9%, against 19.6%).
- Krystal Biotech kept more of each dollar of sales as operating profit (41.5% operating margin, against 37.5%).
- Krystal Biotech turned more of its sales into free cash flow (48.6% FCF margin, against 5.5%).
- Krystal Biotech earned a higher return on the capital invested in it (43.6%, against 39.5%).
- Investors pay more for each dollar of Krystal Biotechβs earnings: a P/E of 39.0x against 15.3x for ADMA Biologics.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
ADMA Biologics
ADMA
2/9
Return on equityShare count change
Krystal Biotech
KRYS
6/9
Revenue growthOperating marginNet marginFCF marginReturn on capitalNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | ADMA FY25 | KRYS FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.5B | $9.6B |
| Revenue | $510M | $389M |
| Free cash flow | $27.8M | $189M |
| Net income | $147M | $205M |
| Growth | ||
| Revenue growth | 19.6% | 33.9% |
| 5-year growth | 64.6% | β |
| Share count change | 0.6% | 0.7% |
| Profitability | ||
| Gross margin | 57.4% | β |
| Operating margin | 37.5% | 41.5% |
| Net margin | 28.8% | 52.6% |
| FCF margin | 5.5% | 48.6% |
| Return on capital | 39.5% | 43.6% |
| Return on equity | 35.6% | 18.9% |
| Balance sheet | ||
| Net debt | β$15.5M | β$828M |
| Net debt / EBITDA | β0.1x | β5.0x |
| Dividends and buybacks | $31.9M | $0.0M |
| Valuation & quality | ||
| P/E | 15.3x | 39.0x |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.