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Krystal Biotech Inc (KRYS) Fair Value & Analysis

Healthcare · US · Market cap $10.5B · ISIN US5011471027

What is Krystal Biotech Inc really worth?

KB Krystal Biotech Inc logo Krystal Biotech Inc KRYS · US
Price$371.47
Fair Value$109.09
Upside−70.6%
Quality71/100

A solid business, but trading 240% above our fair value of $109.09.

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Strengths

Highly profitable · 54.8% net margin
Low debt · generates free cash flow
Wide moat 84/100

Risks

!Mixed Growth (revenue YoY +33.9 %/yr)
!Mixed vs. peers (7/13)
!The models disagree: range $85.93 to $261.88
Evidence: High Range $85.93 – $261.88

Fair value as of: Aug 27, 2026

From 24 valuation models · updated 8 days ago

Fair value updated Aug 27, 2026, revised from $109.53 to $109.09 (−0.4%) since Aug 13, 2026. Share price +14.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case ($261.88). The favourable scenario is already priced in.
  • The model range is unusually wide ($85.93 to $261.88). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

$378.15 $39.81 Fair Value $109.09 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range $39.81 – $378.15 · fair‑value band $85.93 – $261.88 · the $371.47 price screens above the $109.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Krystal Biotech Inc (KRYS) currently trades at $371.47, while our model-based Fair Value estimate is $109.09, implying the stock looks roughly 240.5% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of $321.51 per share, and 0 of the 24 models we run sit above the $371.47 price. Bear case: the Asset-Based group reads lowest at $27.61, and 24 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Krystal Biotech Inc generated revenue of $417M at a net margin of 53.9%. Revenue grew 31.9% year over year. It earns a return on equity of 19.9%. The balance sheet holds a net cash position of $487M. Fundamentals as of Aug 27, 2026

Our scenario range runs from $85.93 (bear case) to $261.88 (bull case); at $371.47, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 190% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at −71%, KRYS screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $5.06 per share, which is 4.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV best evidence $63.48 $71.26 $78.07 74
FCF DCF $124.19 $185.80 $381.98 71
Growth DCF $117.81 $217.31 $380.37 70
All 24 models by family
DCF Models
FCF DCF $124.19 $185.80 $381.98 71
Owner Earnings $122.53 $257.46 $540.70 66
5Y Revenue Exit $68.51 $96.59 $154.54 67
5Y EBITDA Exit $91.14 $142.35 $242.53 68
5Y P/E Exit $132.41 $278.58 $478.38 63
10Y Revenue Exit $84.33 $142.49 $172.38 63
10Y EBITDA Exit $102.10 $191.21 $341.58 61
10Y P/E Exit $132.21 $280.08 $524.53 56
Earnings-Based
Graham-Dodd $47.06 $328.17 $460.54 59
Lynch FV $169.55 $242.21 $314.87 57
PEG = 1.0 $169.55 $242.21 $314.87 53
EPV best evidence $63.48 $71.26 $78.07 74
Multiples
P/E Multiple $114.18 $152.25 $190.31 63
P/S Multiple $34.51 $46.01 $57.52 58
P/B Multiple $88.23 $117.64 $147.06 55
EV/EBIT $86.25 $109.41 $132.57 66
EV/EBITDA $76.31 $96.16 $116.00 67
EV/Revenue $44.38 $56.21 $68.04 54
Asset-Based
NCAV (Graham) $20.60 $27.61 $41.20 54
Growth DCF
Growth DCF $117.81 $217.31 $380.37 70
Rev-Margin DCF $73.31 $108.25 $181.65 66
Economic Profit
Residual Income $45.97 $61.11 $210.34 59
ROIC Compounder $81.40 $119.96 $144.44 67
Growth Earnings
Growth-Adj P/E $225.06 $321.51 $417.97 63

Widest divergence: Growth Earnings ($321.51) versus Asset-Based ($27.61). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 49.7
P/S ratio 26.2 P/E × margin
EPS (TTM) $7.47 price ÷ EPS = P/E 49.7
Net margin 52.6% FY2025
Return on equity 19.9% TTM
Return on assets (EBIT) −6.4% avg 5y
More key figures
Profitability
Operating margin 46.1% TTM
Growth
Revenue (TTM) $417M TTM
Revenue growth (YoY) +31.9%
EPS growth (YoY) +52.5%
Balance sheet & cash flow
Free cash flow $189M FY2025
Net cash $487M FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 72 · Market factors (momentum, volatility) 86

Profitability 62
Margins and returns on capital today
Quality Growth 81
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 89
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 52
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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).

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Krystal Biotech Inc reported revenue of $389M in FY2025 versus $0 in FY2021. Reported net income was $205M in FY2025.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$389M
Latest YoY
+33.9%
Avg. revenue growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+133.5%
Value creation/yr We only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Revenue
FY21 $0
FY22 $0
FY23 $50.7M
FY24 $291M
FY25 $389M
Net income
FY21 −$69.6M
FY22 −$140M
FY23 $10.9M
FY24 $89.2M
FY25 $205M

KRYS screens 240% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Krystal Biotech Inc Fair Value". https://www.fairvalue-calculator.com/stock/KRYS

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Biotechnology · 622 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 71 · Top 25%
Fair Value upside −71% · Below median
Return on equity (TTM) 20% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 55% · Top 25%
Operating margin (TTM) 49% · Top 25%
Revenue growth 24% · Above median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 49.7× · Pricier than 75% of peers
P/B 8.64× · Pricier than 75% of peers
P/S (TTM) 23.94× · Pricier than 75% of peers
P/FCF 55.8× · Pricier than 75% of peers
EV/EBITDA 50.4× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 0
PAST80 · sector 0
HEALTH100 · sector 98
DIVIDEND0 · sector 26

VALUE 0: the price sits above our fair-value range.

Insider activity: 42/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $547.55 $278.78 −49%
Regeneron Pharmaceuticals, Inc REGN $807.71 $594.40 −26%
argenx SE ARGX €877.60 €292.84 −67%
Samsung Biologics Co 207940 1,518,000 KRW 1,055,793 KRW −30%
CSL Limited CSL A$174.50 A$141.68 −19%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 −77%
Royalty Pharma plc RPRX $60.58 $24.22 −60%
Celltrion, Inc 068270 190,700 KRW 74,519 KRW −61%
BeOne Medicines AG ONC $362.51 $111.35 −69%
BioNTech SE BNTX $111.40 $45.66 −59%

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Frequently asked questions

Is Krystal Biotech Inc (KRYS) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of $109.09 versus a price of $371.47, about −71% upside (overvalued).
What is the fair value of KRYS?
Our model-based fair value for Krystal Biotech Inc is $109.09 (as of Aug 27, 2026), built from audited fundamentals. The current price: $371.47.
What is the quality score of KRYS?
Krystal Biotech Inc has a Quality Score of 71/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Krystal Biotech Inc (KRYS)?
Krystal Biotech Inc reported trailing-twelve-month revenue of about $417M (latest available figure, as of Aug 27, 2026).
What is the net profit margin of KRYS?
The net profit margin of Krystal Biotech Inc is about 53.9%, meaning it keeps roughly 53.9% of revenue as net income. Based on the latest reported figures.
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