Kamada Ltd. (KMDA) 10-Year Financial Performance & Capital Metrics

KMDA • • Industrial / General

HealthcareSpecialty & Generic PharmaBiologics & BiosimilarsPlasma-Derived Therapeutics

AboutKamada Ltd. provides plasma-derived protein therapeutics. It operates in two segments, Proprietary Products and Distribution. The company offers KAMRAB/KEDRAB for prophylaxis of rabies disease; CYTOGAM for prophylaxis of cytomegalovirus disease in kidney, lung, liver, pancreas, heart, and heart/lung transplant; WINRHO SDF for immune thrombocytopenic purpura and suppression of rhesus isoimmunization; HEPAGAM B for prevention of hepatitis B recurrence liver transplants and post-exposure prophylaxis; VARIZIG for post exposure prophylaxis of varicella; and GLASSIA for intravenous AATD. It also provides KamRho (D) IM for prophylaxis of hemolytic disease of newborns; KamRho (D) IV for immune thermobocytopunic purpura; and snake bite antiserum to treat snake bites by the vipera palaestinae and echis coloratus. In addition, the company distributes BRAMITOB to manage chronic pulmonary infection; FOSTER to treat asthma; PROVOCHOLINE for the diagnosis of bronchial airway hyperactivity; AEROBIKA, an OPEP device; RUPAFIN for Allergic rhinitis and Urticaria; IVIG for immunodeficiency-related conditions; VARITECT for chicken pox and zoster herpes; ZUTECTRA and HEPATECT CP for hepatitis B; MEGALOTECT CP for cytomegalovirus virus; RUCONEST for angioedema attacks; heparin sodium injection for thrombo-embolic disorders and prophylaxis of deep vein thrombosis and thromboembolic events; ALBUMIN for blood plasma; Factor VIII for hemophilia type A; and Factor IX for hemophilia type B. Further, it offers IXIARO for Japanese encephalitis; VIVOTIF for Salmonella Typhi; PROCYSBI for nephropathic cystinosis; LAMZEDE for alpha-mannosidosis ; and ELIGARD for prostate cancer. The company markets its products through strategic partners in the United States, as well as through distributors internationally. Kamada Ltd. has strategic partnerships with Takeda Pharmaceuticals Company Limited; PARI GmbH; and Kedrion Biopharma. The company was incorporated in 1990 and is headquartered in Rehovot, Israel.Show more

Revenue $161M +12.9%
EBITDA $34M +57.2%
Net Income $14M +74.6%
EPS (Diluted) 0.25 +66.7%
Gross Margin 43.47% +11.6%
EBITDA Margin 21.04% +39.2%
Operating Margin 12.46% +76.4%
Net Margin 8.99% +54.6%
ROE 5.74% +45.6%
ROIC 7.73% +84.0%
Debt/Equity 0.04 +17.9%
Interest Coverage 30.38 +291.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 22.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak 3Y average ROE of 2.8%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.39%

5Y4.82%

3Y15.8%

TTM10.36%

Profit (Net Income) CAGR

10Y-

5Y-8.26%

3Y-

TTM30.12%

EPS CAGR

10Y-

5Y-15.2%

3Y-

TTM27.03%

ROCE

10Y Avg4.74%

5Y Avg4.65%

3Y Avg3.93%

Latest6.38%

Peer Comparison

Plasma-Derived Therapeutics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KMDAKamada Ltd.	474.14M	8.22	32.88	12.93%	11.7%	7.71%	7.77%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	70.11M	77.49M	102.83M	114.47M	127.19M	133.25M	103.64M	129.34M	142.52M	160.95M
Revenue Growth %	-0.03%	0.11%	0.33%	0.11%	0.11%	0.05%	-0.22%	0.25%	0.1%	0.13%
Cost of Goods Sold+	54.11M	55.84M	70.74M	73M	77.45M	85.69M	73.31M	82.64M	87.03M	90.99M
COGS % of Revenue	0.77%	0.72%	0.69%	0.64%	0.61%	0.64%	0.71%	0.64%	0.61%	0.57%
Gross Profit+	16M	21.65M	32.09M	41.47M	49.74M	47.55M	30.33M	46.7M	55.49M	69.97M
Gross Margin %	0.23%	0.28%	0.31%	0.36%	0.39%	0.36%	0.29%	0.36%	0.39%	0.43%
Gross Profit Growth %	0.02%	0.35%	0.48%	0.29%	0.2%	-0.04%	-0.36%	0.54%	0.19%	0.26%
Operating Expenses+	27.43M	27.13M	24.64M	22.21M	26.95M	28.32M	31.02M	42.17M	45.43M	49.92M
OpEx % of Revenue	0.39%	0.35%	0.24%	0.19%	0.21%	0.21%	0.3%	0.33%	0.32%	0.31%
Selling, General & Admin	10.9M	10.89M	12.67M	12.15M	12.85M	14.66M	17.55M	25.06M	27.45M	30.83M
SG&A % of Revenue	0.16%	0.14%	0.12%	0.11%	0.1%	0.11%	0.17%	0.19%	0.19%	0.19%
Research & Development	16.53M	16.25M	11.97M	9.75M	13.06M	13.61M	11.36M	13.17M	13.93M	15.19M
R&D % of Revenue	0.24%	0.21%	0.12%	0.09%	0.1%	0.1%	0.11%	0.1%	0.1%	0.09%
Other Operating Expenses	0	0	0	997K	1.05M	49K	2.12M	3.94M	4.04M	3.9M
Operating Income+	-11.42M	-5.84M	7.44M	19.26M	22.78M	19.24M	-696K	4.53M	10.06M	20.05M
Operating Margin %	-0.16%	-0.08%	0.07%	0.17%	0.18%	0.14%	-0.01%	0.04%	0.07%	0.12%
Operating Income Growth %	-0.05%	0.49%	2.27%	1.59%	0.18%	-0.16%	-1.04%	7.51%	1.22%	0.99%
EBITDA+	-8.2M	-2.48M	11.09M	22.82M	27.3M	24.48M	4.91M	16.69M	21.53M	33.86M
EBITDA Margin %	-0.12%	-0.03%	0.11%	0.2%	0.21%	0.18%	0.05%	0.13%	0.15%	0.21%
EBITDA Growth %	-0.01%	0.7%	5.47%	1.06%	0.2%	-0.1%	-0.8%	2.4%	0.29%	0.57%
D&A (Non-Cash Add-back)	3.23M	3.36M	3.65M	3.56M	4.52M	5.25M	5.61M	12.15M	11.47M	13.81M
EBIT	-10.43M	-4.88M	7.6M	19.9M	23.27M	20.17M	-1.6M	-1.34M	10.06M	13.99M
Net Interest Income+	-471K	343K	418K	461.82K	853K	761K	12K	-823K	-710K	1.46M
Interest Income	463K	469K	500K	788.95K	1.15M	1.03M	295K	91K	588K	2.12M
Interest Expense	934K	126K	82K	327.13K	293K	266K	283K	914K	1.3M	660K
Other Income/Expense	154K	470K	-274K	1.08M	197K	-672K	-1.19M	-6.79M	-1.64M	-6.72M
Pretax Income+	-11.27M	-5.01M	7.17M	20.34M	22.98M	18.57M	-1.89M	-2.26M	8.43M	13.33M
Pretax Margin %	-0.16%	-0.06%	0.07%	0.18%	0.18%	0.14%	-0.02%	-0.02%	0.06%	0.08%
Income Tax+	0	1.72M	269K	-1.96M	730K	1.43M	345K	62K	145K	-1.13M
Effective Tax Rate %	1%	1.34%	0.96%	1.1%	0.97%	0.92%	1.18%	1.03%	0.98%	1.08%
Net Income+	-11.27M	-6.73M	6.9M	22.3M	22.25M	17.14M	-2.23M	-2.32M	8.28M	14.46M
Net Margin %	-0.16%	-0.09%	0.07%	0.19%	0.17%	0.13%	-0.02%	-0.02%	0.06%	0.09%
Net Income Growth %	0.11%	0.4%	2.02%	2.23%	-0%	-0.23%	-1.13%	-0.04%	4.57%	0.75%
Net Income (Continuing)	-11.27M	-6.73M	6.9M	22.3M	22.25M	17.14M	-2.23M	-2.32M	8.28M	14.46M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.31	-0.18	0.18	0.55	0.57	0.41	-0.05	-0.05	0.15	0.25
EPS Growth %	0.11%	0.42%	2%	2.06%	0.04%	-0.28%	-1.12%	-0.04%	3.9%	0.67%
EPS (Basic)	-0.31	-0.18	0.18	0.55	0.57	0.42	-0.05	-0.05	0.17	0.25
Diluted Shares Outstanding	36.25M	36.43M	38.05M	40.54M	40.58M	44.59M	44.77M	44.82M	53.68M	57.82M
Basic Shares Outstanding	36.25M	36.42M	37.97M	40.28M	40.32M	44.14M	44.77M	44.82M	48.83M	57.49M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	80.59M	77.08M	96.88M	110.89M	143.56M	177.91M	130.04M	139M	169.96M	184.35M
Cash & Short-Term Investments	28.31M	28.63M	43.02M	50.59M	73.91M	109.27M	18.59M	34.26M	55.64M	78.44M
Cash Only	5.05M	9.97M	12.68M	18.09M	42.66M	70.2M	18.59M	34.26M	55.64M	78.44M
Short-Term Investments	23.26M	18.66M	30.34M	32.5M	31.25M	39.07M	0	0	0	0
Accounts Receivable	25.08M	21.79M	31.97M	29.5M	25.23M	23.05M	35.56M	28.36M	21.29M	23.2M
Days Sales Outstanding	130.55	102.65	113.49	94.06	72.4	63.15	125.24	80.02	54.52	52.6
Inventory	26.34M	25.59M	21.07M	29.32M	43.17M	43.04M	71.83M	72.52M	88.48M	78.82M
Days Inventory Outstanding	177.66	167.28	108.72	146.59	203.46	183.33	357.61	320.3	371.08	316.19
Other Current Assets	0	0	0	0	15K	448K	73K	0	149K	49K
Total Non-Current Assets+	21.4M	22.62M	25.23M	27.23M	30.23M	32.75M	188.62M	183.37M	184.94M	187.91M
Property, Plant & Equipment	21.31M	22.25M	25.18M	25M	28.57M	29.12M	29.4M	28.73M	35.98M	45.86M
Fixed Asset Turnover	3.29x	3.48x	4.08x	4.58x	4.45x	4.58x	3.53x	4.50x	3.96x	3.51x
Goodwill	0	0	0	0	0	0	30.31M	30.31M	30.31M	30.31M
Intangible Assets	54K	21.79M	0	123K	298K	1.49M	123.28M	116.7M	109.64M	101.86M
Long-Term Investments	35K	40K	0	-123K	0	0	0	0	0	0
Other Non-Current Assets	35K	40K	49K	174K	54K	2.14M	5.63M	7.64M	9.01M	9.38M
Total Assets+	101.99M	99.7M	122.11M	138.12M	173.8M	210.66M	318.67M	322.38M	354.91M	372.25M
Asset Turnover	0.69x	0.78x	0.84x	0.83x	0.73x	0.63x	0.33x	0.40x	0.40x	0.43x
Asset Growth %	-0.15%	-0.02%	0.22%	0.13%	0.26%	0.21%	0.51%	0.01%	0.1%	0.05%
Total Current Liabilities+	22.94M	27.21M	29.4M	23.57M	32.74M	24.97M	54.06M	75.7M	49.59M	49.39M
Accounts Payable	16.92M	16.28M	18.04M	17.29M	24.83M	16.11M	25.1M	32.92M	24.8M	27.73M
Days Payables Outstanding	114.12	106.39	93.06	86.43	117.02	68.62	124.98	145.39	104.03	111.26
Short-Term Debt	37K	412K	614K	452K	489K	238K	2.63M	4.44M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	461K	589K	222K	247K	236K	325K	171K
Other Current Liabilities	0	4.17M	1.08M	553K	5.67M	7.03M	24.33M	36.48M	22.54M	19.4M
Current Ratio	3.51x	2.83x	3.30x	4.70x	4.39x	7.13x	2.41x	1.84x	3.43x	3.73x
Quick Ratio	2.37x	1.89x	2.58x	3.46x	3.07x	5.40x	1.08x	0.88x	1.64x	2.14x
Cash Conversion Cycle	194.09	163.55	129.15	154.21	158.84	177.86	357.87	254.93	321.57	257.53
Total Non-Current Liabilities+	6.55M	5.75M	3.22M	2.17M	5.74M	7.06M	87.79M	70.65M	61.29M	63.4M
Long-Term Debt	151K	1.36M	1.37M	688K	257K	36K	17.41M	12.96M	0	0
Capital Lease Obligations	0	0	0	28K	3.98M	3.59M	3.16M	2.18M	7.44M	9.43M
Deferred Tax Liabilities	12.99M	16.52M	21.06M	16.92M	0	0	0	0	0	0
Other Non-Current Liabilities	787K	722K	1.14M	787K	1.27M	1.41M	67.2M	55.51M	53.85M	53.97M
Total Liabilities	29.48M	32.95M	32.62M	25.74M	38.48M	32.03M	141.84M	146.36M	110.89M	112.79M
Total Debt+	188K	1.78M	1.98M	1.28M	5.75M	4.94M	24.35M	20.6M	8.82M	11.06M
Net Debt	-4.86M	-8.19M	-10.7M	-16.82M	-36.91M	-65.26M	5.76M	-13.66M	-46.82M	-67.37M
Debt / Equity	0.00x	0.03x	0.02x	0.01x	0.04x	0.03x	0.14x	0.12x	0.04x	0.04x
Debt / EBITDA	-	-	0.18x	0.06x	0.21x	0.20x	4.96x	1.23x	0.41x	0.33x
Net Debt / EBITDA	-	-	-0.96x	-0.74x	-1.35x	-2.67x	1.17x	-0.82x	-2.17x	-1.99x
Interest Coverage	-12.23x	-46.36x	90.78x	58.87x	77.76x	72.32x	-2.46x	4.96x	7.75x	30.38x
Total Equity+	72.51M	66.74M	89.49M	112.38M	135.32M	178.64M	176.82M	176.02M	244.02M	259.46M
Equity Growth %	-0.1%	-0.08%	0.34%	0.26%	0.2%	0.32%	-0.01%	-0%	0.39%	0.06%
Book Value per Share	2.00	1.83	2.35	2.77	3.33	4.01	3.95	3.93	4.55	4.49
Total Shareholders' Equity	72.51M	66.74M	89.49M	112.38M	135.32M	178.64M	176.82M	176.02M	244.02M	259.46M
Common Stock	9.32M	9.32M	10.4M	10.41M	10.43M	11.71M	11.72M	11.73M	15.02M	15.03M
Retained Earnings	-104.73M	-111.46M	-104.56M	-83.02M	-61.07M	-43.93M	-46.16M	-48.48M	-40.2M	-25.74M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.48M	-3.58M	-3.79M	-3.51M	-3.7M	-3.45M	-3.58M	-3.23M	-3.08M	-3.08M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-13.98M	1.9M	3.89M	10.55M	28.44M	19.11M	-9.17M	28.59M	4.32M	47.59M
Operating CF Margin %	-0.2%	0.02%	0.04%	0.09%	0.22%	0.14%	-0.09%	0.22%	0.03%	0.3%
Operating CF Growth %	-0.41%	1.14%	1.05%	1.71%	1.7%	-0.33%	-1.48%	4.12%	-0.85%	10.03%
Net Income	-11.27M	-6.73M	6.9M	22.3M	22.95M	17.14M	-2.32M	-2.32M	8.28M	14.46M
Depreciation & Amortization	3.23M	3.5M	3.52M	3.7M	4.66M	4.9M	5.83M	12.15M	12.71M	13.81M
Stock-Based Compensation	1.91M	1.07M	483K	948K	0	977K	0	1.15M	1.31M	874K
Deferred Taxes	699K	1.72M	269K	-1.96M	748.91K	1.43M	0	62K	145K	-1.13M
Other Non-Cash Items	-154K	-1.58M	650K	-380K	1.85M	1.77M	2.3M	5.89M	60K	8.16M
Working Capital Changes	-8.39M	3.91M	-7.94M	-14.07M	-1.77M	-7.1M	-14.98M	11.65M	-18.2M	11.41M
Change in Receivables	-5.6M	3.49M	-9.97M	2.31M	5.06M	1.45M	-15.07M	5.68M	9.5M	-908K
Change in Inventory	-913K	742K	4.52M	-8.25M	-14.29M	1.16M	-2.47M	-1.36M	-19.69M	9.66M
Change in Payables	887K	-2.65M	-556K	-1.12M	6.46M	-9.56M	8.23M	7.05M	-8.88M	1.23M
Cash from Investing+	11.25M	1.64M	-15.89M	-5.18M	-581.8K	-13.13M	-63.46M	-3.78M	-5.84M	-10.74M
Capital Expenditures	-2.72M	-2.64M	-4.45M	-2.88M	-2.37M	-5.49M	-3.88M	-3.78M	-5.85M	-10.74M
CapEx % of Revenue	0.04%	0.03%	0.04%	0.03%	0.02%	0.04%	0.04%	0.03%	0.04%	0.07%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	13.97M	4.28M	-11.44M	-2.29M	0	7K	0	0	7K	1K
Cash from Financing+	-6.36M	1.49M	15.32M	-587K	-1.58M	23.36M	19.33M	-9.34M	22.68M	-13.91M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.25M	0	3K	9K	-1.1M	64K	-1.27M	-5.62M	-17.3M	-12.66M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-16.7M	-744K	-559K	7.66M	26.07M	13.62M	-13.04M	24.8M	-1.53M	36.85M
FCF Margin %	-0.24%	-0.01%	-0.01%	0.07%	0.2%	0.1%	-0.13%	0.19%	-0.01%	0.23%
FCF Growth %	-0.28%	0.96%	0.25%	14.71%	2.4%	-0.48%	-1.96%	2.9%	-1.06%	25.01%
FCF per Share	-0.46	-0.02	-0.01	0.19	0.64	0.31	-0.29	0.55	-0.03	0.64
FCF Conversion (FCF/Net Income)	1.24x	-0.28x	0.56x	0.47x	1.28x	1.11x	4.11x	-12.32x	0.52x	3.29x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-14.68%	-9.67%	8.83%	22.09%	17.97%	10.92%	-1.25%	-1.32%	3.94%	5.74%
Return on Invested Capital (ROIC)	-12.1%	-6.94%	8.13%	16.57%	17.62%	13.63%	-0.35%	1.97%	4.2%	7.73%
Gross Margin	22.83%	27.94%	31.21%	36.23%	39.11%	35.69%	29.26%	36.11%	38.94%	43.47%
Net Margin	-16.07%	-8.69%	6.71%	19.48%	17.49%	12.86%	-2.15%	-1.79%	5.81%	8.99%
Debt / Equity	0.00x	0.03x	0.02x	0.01x	0.04x	0.03x	0.14x	0.12x	0.04x	0.04x
Interest Coverage	-12.23x	-46.36x	90.78x	58.87x	77.76x	72.32x	-2.46x	4.96x	7.75x	30.38x
FCF Conversion	1.24x	-0.28x	0.56x	0.47x	1.28x	1.11x	4.11x	-12.32x	0.52x	3.29x
Revenue Growth	-2.52%	10.53%	32.69%	11.32%	11.11%	4.76%	-22.22%	24.79%	10.19%	12.93%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
Other Foreign Countries Member	-	-	-	32.03M	31.3M	25.01M
Other Foreign Countries Member Growth	-	-	-	-	-2.29%	-20.08%
Latin America	3.79M	-	-	-	12.93M	18.61M
Latin America Growth	-	-	-	-	-	43.92%
CANADA	-	-	-	-	11.16M	9.46M
CANADA Growth	-	-	-	-	-	-15.28%
Asia	2.07M	-	-	-	6.15M	2.38M
Asia Growth	-	-	-	-	-	-61.35%
Other Countries Member	-	-	-	305K	157K	62K
Other Countries Member Growth	-	-	-	-	-48.52%	-60.51%
OtherForeignCountriesMember	-	36.14M	35.77M	-	-	-
OtherForeignCountriesMember Growth	-	-	-1.02%	-	-	-
OtherForeignCountriesTwoMember	-	6.87M	9.13M	-	-	-
OtherForeignCountriesTwoMember Growth	-	-	32.91%	-	-	-
OtherForeignCountriesThreeMember	-	4.46M	5.68M	-	-	-
OtherForeignCountriesThreeMember Growth	-	-	27.26%	-	-	-
OtherForeignCountriesOneMember	-	766K	3.17M	-	-	-
OtherForeignCountriesOneMember Growth	-	-	313.45%	-	-	-
OtherCountriesMember	-	59K	134K	-	-	-
OtherCountriesMember Growth	-	-	127.12%	-	-	-
US	84.57M	-	-	-	-	-
US Growth	-	-	-	-	-	-
Israel	31.96M	-	-	-	-	-
Israel Growth	-	-	-	-	-	-
Europe	4.7M	-	-	-	-	-
Europe Growth	-	-	-	-	-	-
Others	96K	-	-	-	-	-
Others Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Kamada Ltd. (KMDA) has a price-to-earnings (P/E) ratio of 32.9x. This suggests investors expect higher future growth.

Growth & Financials

Kamada Ltd. (KMDA) reported $174.8M in revenue for fiscal year 2024. This represents a 213% increase from $55.9M in 2011.

Kamada Ltd. (KMDA) grew revenue by 12.9% over the past year. This is steady growth.

Yes, Kamada Ltd. (KMDA) is profitable, generating $20.4M in net income for fiscal year 2024 (9.0% net margin).

Dividend & Returns

Kamada Ltd. (KMDA) has a return on equity (ROE) of 5.7%. This is below average, suggesting room for improvement.

Kamada Ltd. (KMDA) generated $18.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Kamada Ltd. (KMDA) 10-Year Financial Performance & Capital Metrics

KMDA • • Industrial / General

HealthcareSpecialty & Generic PharmaBiologics & BiosimilarsPlasma-Derived Therapeutics

Revenue $161M +12.9%
EBITDA $34M +57.2%
Net Income $14M +74.6%
EPS (Diluted) 0.25 +66.7%
Gross Margin 43.47% +11.6%
EBITDA Margin 21.04% +39.2%
Operating Margin 12.46% +76.4%
Net Margin 8.99% +54.6%
ROE 5.74% +45.6%
ROIC 7.73% +84.0%
Debt/Equity 0.04 +17.9%
Interest Coverage 30.38 +291.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 22.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak 3Y average ROE of 2.8%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.39%

5Y4.82%

3Y15.8%

TTM10.36%

Profit (Net Income) CAGR

10Y-

5Y-8.26%

3Y-

TTM30.12%

EPS CAGR

10Y-

5Y-15.2%

3Y-

TTM27.03%

ROCE

10Y Avg4.74%

5Y Avg4.65%

3Y Avg3.93%

Latest6.38%

Peer Comparison

Plasma-Derived Therapeutics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KMDAKamada Ltd.	474.14M	8.22	32.88	12.93%	11.7%	7.71%	7.77%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	70.11M	77.49M	102.83M	114.47M	127.19M	133.25M	103.64M	129.34M	142.52M	160.95M
Revenue Growth %	-0.03%	0.11%	0.33%	0.11%	0.11%	0.05%	-0.22%	0.25%	0.1%	0.13%
Cost of Goods Sold+	54.11M	55.84M	70.74M	73M	77.45M	85.69M	73.31M	82.64M	87.03M	90.99M
COGS % of Revenue	0.77%	0.72%	0.69%	0.64%	0.61%	0.64%	0.71%	0.64%	0.61%	0.57%
Gross Profit+	16M	21.65M	32.09M	41.47M	49.74M	47.55M	30.33M	46.7M	55.49M	69.97M
Gross Margin %	0.23%	0.28%	0.31%	0.36%	0.39%	0.36%	0.29%	0.36%	0.39%	0.43%
Gross Profit Growth %	0.02%	0.35%	0.48%	0.29%	0.2%	-0.04%	-0.36%	0.54%	0.19%	0.26%
Operating Expenses+	27.43M	27.13M	24.64M	22.21M	26.95M	28.32M	31.02M	42.17M	45.43M	49.92M
OpEx % of Revenue	0.39%	0.35%	0.24%	0.19%	0.21%	0.21%	0.3%	0.33%	0.32%	0.31%
Selling, General & Admin	10.9M	10.89M	12.67M	12.15M	12.85M	14.66M	17.55M	25.06M	27.45M	30.83M
SG&A % of Revenue	0.16%	0.14%	0.12%	0.11%	0.1%	0.11%	0.17%	0.19%	0.19%	0.19%
Research & Development	16.53M	16.25M	11.97M	9.75M	13.06M	13.61M	11.36M	13.17M	13.93M	15.19M
R&D % of Revenue	0.24%	0.21%	0.12%	0.09%	0.1%	0.1%	0.11%	0.1%	0.1%	0.09%
Other Operating Expenses	0	0	0	997K	1.05M	49K	2.12M	3.94M	4.04M	3.9M
Operating Income+	-11.42M	-5.84M	7.44M	19.26M	22.78M	19.24M	-696K	4.53M	10.06M	20.05M
Operating Margin %	-0.16%	-0.08%	0.07%	0.17%	0.18%	0.14%	-0.01%	0.04%	0.07%	0.12%
Operating Income Growth %	-0.05%	0.49%	2.27%	1.59%	0.18%	-0.16%	-1.04%	7.51%	1.22%	0.99%
EBITDA+	-8.2M	-2.48M	11.09M	22.82M	27.3M	24.48M	4.91M	16.69M	21.53M	33.86M
EBITDA Margin %	-0.12%	-0.03%	0.11%	0.2%	0.21%	0.18%	0.05%	0.13%	0.15%	0.21%
EBITDA Growth %	-0.01%	0.7%	5.47%	1.06%	0.2%	-0.1%	-0.8%	2.4%	0.29%	0.57%
D&A (Non-Cash Add-back)	3.23M	3.36M	3.65M	3.56M	4.52M	5.25M	5.61M	12.15M	11.47M	13.81M
EBIT	-10.43M	-4.88M	7.6M	19.9M	23.27M	20.17M	-1.6M	-1.34M	10.06M	13.99M
Net Interest Income+	-471K	343K	418K	461.82K	853K	761K	12K	-823K	-710K	1.46M
Interest Income	463K	469K	500K	788.95K	1.15M	1.03M	295K	91K	588K	2.12M
Interest Expense	934K	126K	82K	327.13K	293K	266K	283K	914K	1.3M	660K
Other Income/Expense	154K	470K	-274K	1.08M	197K	-672K	-1.19M	-6.79M	-1.64M	-6.72M
Pretax Income+	-11.27M	-5.01M	7.17M	20.34M	22.98M	18.57M	-1.89M	-2.26M	8.43M	13.33M
Pretax Margin %	-0.16%	-0.06%	0.07%	0.18%	0.18%	0.14%	-0.02%	-0.02%	0.06%	0.08%
Income Tax+	0	1.72M	269K	-1.96M	730K	1.43M	345K	62K	145K	-1.13M
Effective Tax Rate %	1%	1.34%	0.96%	1.1%	0.97%	0.92%	1.18%	1.03%	0.98%	1.08%
Net Income+	-11.27M	-6.73M	6.9M	22.3M	22.25M	17.14M	-2.23M	-2.32M	8.28M	14.46M
Net Margin %	-0.16%	-0.09%	0.07%	0.19%	0.17%	0.13%	-0.02%	-0.02%	0.06%	0.09%
Net Income Growth %	0.11%	0.4%	2.02%	2.23%	-0%	-0.23%	-1.13%	-0.04%	4.57%	0.75%
Net Income (Continuing)	-11.27M	-6.73M	6.9M	22.3M	22.25M	17.14M	-2.23M	-2.32M	8.28M	14.46M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.31	-0.18	0.18	0.55	0.57	0.41	-0.05	-0.05	0.15	0.25
EPS Growth %	0.11%	0.42%	2%	2.06%	0.04%	-0.28%	-1.12%	-0.04%	3.9%	0.67%
EPS (Basic)	-0.31	-0.18	0.18	0.55	0.57	0.42	-0.05	-0.05	0.17	0.25
Diluted Shares Outstanding	36.25M	36.43M	38.05M	40.54M	40.58M	44.59M	44.77M	44.82M	53.68M	57.82M
Basic Shares Outstanding	36.25M	36.42M	37.97M	40.28M	40.32M	44.14M	44.77M	44.82M	48.83M	57.49M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	80.59M	77.08M	96.88M	110.89M	143.56M	177.91M	130.04M	139M	169.96M	184.35M
Cash & Short-Term Investments	28.31M	28.63M	43.02M	50.59M	73.91M	109.27M	18.59M	34.26M	55.64M	78.44M
Cash Only	5.05M	9.97M	12.68M	18.09M	42.66M	70.2M	18.59M	34.26M	55.64M	78.44M
Short-Term Investments	23.26M	18.66M	30.34M	32.5M	31.25M	39.07M	0	0	0	0
Accounts Receivable	25.08M	21.79M	31.97M	29.5M	25.23M	23.05M	35.56M	28.36M	21.29M	23.2M
Days Sales Outstanding	130.55	102.65	113.49	94.06	72.4	63.15	125.24	80.02	54.52	52.6
Inventory	26.34M	25.59M	21.07M	29.32M	43.17M	43.04M	71.83M	72.52M	88.48M	78.82M
Days Inventory Outstanding	177.66	167.28	108.72	146.59	203.46	183.33	357.61	320.3	371.08	316.19
Other Current Assets	0	0	0	0	15K	448K	73K	0	149K	49K
Total Non-Current Assets+	21.4M	22.62M	25.23M	27.23M	30.23M	32.75M	188.62M	183.37M	184.94M	187.91M
Property, Plant & Equipment	21.31M	22.25M	25.18M	25M	28.57M	29.12M	29.4M	28.73M	35.98M	45.86M
Fixed Asset Turnover	3.29x	3.48x	4.08x	4.58x	4.45x	4.58x	3.53x	4.50x	3.96x	3.51x
Goodwill	0	0	0	0	0	0	30.31M	30.31M	30.31M	30.31M
Intangible Assets	54K	21.79M	0	123K	298K	1.49M	123.28M	116.7M	109.64M	101.86M
Long-Term Investments	35K	40K	0	-123K	0	0	0	0	0	0
Other Non-Current Assets	35K	40K	49K	174K	54K	2.14M	5.63M	7.64M	9.01M	9.38M
Total Assets+	101.99M	99.7M	122.11M	138.12M	173.8M	210.66M	318.67M	322.38M	354.91M	372.25M
Asset Turnover	0.69x	0.78x	0.84x	0.83x	0.73x	0.63x	0.33x	0.40x	0.40x	0.43x
Asset Growth %	-0.15%	-0.02%	0.22%	0.13%	0.26%	0.21%	0.51%	0.01%	0.1%	0.05%
Total Current Liabilities+	22.94M	27.21M	29.4M	23.57M	32.74M	24.97M	54.06M	75.7M	49.59M	49.39M
Accounts Payable	16.92M	16.28M	18.04M	17.29M	24.83M	16.11M	25.1M	32.92M	24.8M	27.73M
Days Payables Outstanding	114.12	106.39	93.06	86.43	117.02	68.62	124.98	145.39	104.03	111.26
Short-Term Debt	37K	412K	614K	452K	489K	238K	2.63M	4.44M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	461K	589K	222K	247K	236K	325K	171K
Other Current Liabilities	0	4.17M	1.08M	553K	5.67M	7.03M	24.33M	36.48M	22.54M	19.4M
Current Ratio	3.51x	2.83x	3.30x	4.70x	4.39x	7.13x	2.41x	1.84x	3.43x	3.73x
Quick Ratio	2.37x	1.89x	2.58x	3.46x	3.07x	5.40x	1.08x	0.88x	1.64x	2.14x
Cash Conversion Cycle	194.09	163.55	129.15	154.21	158.84	177.86	357.87	254.93	321.57	257.53
Total Non-Current Liabilities+	6.55M	5.75M	3.22M	2.17M	5.74M	7.06M	87.79M	70.65M	61.29M	63.4M
Long-Term Debt	151K	1.36M	1.37M	688K	257K	36K	17.41M	12.96M	0	0
Capital Lease Obligations	0	0	0	28K	3.98M	3.59M	3.16M	2.18M	7.44M	9.43M
Deferred Tax Liabilities	12.99M	16.52M	21.06M	16.92M	0	0	0	0	0	0
Other Non-Current Liabilities	787K	722K	1.14M	787K	1.27M	1.41M	67.2M	55.51M	53.85M	53.97M
Total Liabilities	29.48M	32.95M	32.62M	25.74M	38.48M	32.03M	141.84M	146.36M	110.89M	112.79M
Total Debt+	188K	1.78M	1.98M	1.28M	5.75M	4.94M	24.35M	20.6M	8.82M	11.06M
Net Debt	-4.86M	-8.19M	-10.7M	-16.82M	-36.91M	-65.26M	5.76M	-13.66M	-46.82M	-67.37M
Debt / Equity	0.00x	0.03x	0.02x	0.01x	0.04x	0.03x	0.14x	0.12x	0.04x	0.04x
Debt / EBITDA	-	-	0.18x	0.06x	0.21x	0.20x	4.96x	1.23x	0.41x	0.33x
Net Debt / EBITDA	-	-	-0.96x	-0.74x	-1.35x	-2.67x	1.17x	-0.82x	-2.17x	-1.99x
Interest Coverage	-12.23x	-46.36x	90.78x	58.87x	77.76x	72.32x	-2.46x	4.96x	7.75x	30.38x
Total Equity+	72.51M	66.74M	89.49M	112.38M	135.32M	178.64M	176.82M	176.02M	244.02M	259.46M
Equity Growth %	-0.1%	-0.08%	0.34%	0.26%	0.2%	0.32%	-0.01%	-0%	0.39%	0.06%
Book Value per Share	2.00	1.83	2.35	2.77	3.33	4.01	3.95	3.93	4.55	4.49
Total Shareholders' Equity	72.51M	66.74M	89.49M	112.38M	135.32M	178.64M	176.82M	176.02M	244.02M	259.46M
Common Stock	9.32M	9.32M	10.4M	10.41M	10.43M	11.71M	11.72M	11.73M	15.02M	15.03M
Retained Earnings	-104.73M	-111.46M	-104.56M	-83.02M	-61.07M	-43.93M	-46.16M	-48.48M	-40.2M	-25.74M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.48M	-3.58M	-3.79M	-3.51M	-3.7M	-3.45M	-3.58M	-3.23M	-3.08M	-3.08M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-13.98M	1.9M	3.89M	10.55M	28.44M	19.11M	-9.17M	28.59M	4.32M	47.59M
Operating CF Margin %	-0.2%	0.02%	0.04%	0.09%	0.22%	0.14%	-0.09%	0.22%	0.03%	0.3%
Operating CF Growth %	-0.41%	1.14%	1.05%	1.71%	1.7%	-0.33%	-1.48%	4.12%	-0.85%	10.03%
Net Income	-11.27M	-6.73M	6.9M	22.3M	22.95M	17.14M	-2.32M	-2.32M	8.28M	14.46M
Depreciation & Amortization	3.23M	3.5M	3.52M	3.7M	4.66M	4.9M	5.83M	12.15M	12.71M	13.81M
Stock-Based Compensation	1.91M	1.07M	483K	948K	0	977K	0	1.15M	1.31M	874K
Deferred Taxes	699K	1.72M	269K	-1.96M	748.91K	1.43M	0	62K	145K	-1.13M
Other Non-Cash Items	-154K	-1.58M	650K	-380K	1.85M	1.77M	2.3M	5.89M	60K	8.16M
Working Capital Changes	-8.39M	3.91M	-7.94M	-14.07M	-1.77M	-7.1M	-14.98M	11.65M	-18.2M	11.41M
Change in Receivables	-5.6M	3.49M	-9.97M	2.31M	5.06M	1.45M	-15.07M	5.68M	9.5M	-908K
Change in Inventory	-913K	742K	4.52M	-8.25M	-14.29M	1.16M	-2.47M	-1.36M	-19.69M	9.66M
Change in Payables	887K	-2.65M	-556K	-1.12M	6.46M	-9.56M	8.23M	7.05M	-8.88M	1.23M
Cash from Investing+	11.25M	1.64M	-15.89M	-5.18M	-581.8K	-13.13M	-63.46M	-3.78M	-5.84M	-10.74M
Capital Expenditures	-2.72M	-2.64M	-4.45M	-2.88M	-2.37M	-5.49M	-3.88M	-3.78M	-5.85M	-10.74M
CapEx % of Revenue	0.04%	0.03%	0.04%	0.03%	0.02%	0.04%	0.04%	0.03%	0.04%	0.07%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	13.97M	4.28M	-11.44M	-2.29M	0	7K	0	0	7K	1K
Cash from Financing+	-6.36M	1.49M	15.32M	-587K	-1.58M	23.36M	19.33M	-9.34M	22.68M	-13.91M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.25M	0	3K	9K	-1.1M	64K	-1.27M	-5.62M	-17.3M	-12.66M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-16.7M	-744K	-559K	7.66M	26.07M	13.62M	-13.04M	24.8M	-1.53M	36.85M
FCF Margin %	-0.24%	-0.01%	-0.01%	0.07%	0.2%	0.1%	-0.13%	0.19%	-0.01%	0.23%
FCF Growth %	-0.28%	0.96%	0.25%	14.71%	2.4%	-0.48%	-1.96%	2.9%	-1.06%	25.01%
FCF per Share	-0.46	-0.02	-0.01	0.19	0.64	0.31	-0.29	0.55	-0.03	0.64
FCF Conversion (FCF/Net Income)	1.24x	-0.28x	0.56x	0.47x	1.28x	1.11x	4.11x	-12.32x	0.52x	3.29x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-14.68%	-9.67%	8.83%	22.09%	17.97%	10.92%	-1.25%	-1.32%	3.94%	5.74%
Return on Invested Capital (ROIC)	-12.1%	-6.94%	8.13%	16.57%	17.62%	13.63%	-0.35%	1.97%	4.2%	7.73%
Gross Margin	22.83%	27.94%	31.21%	36.23%	39.11%	35.69%	29.26%	36.11%	38.94%	43.47%
Net Margin	-16.07%	-8.69%	6.71%	19.48%	17.49%	12.86%	-2.15%	-1.79%	5.81%	8.99%
Debt / Equity	0.00x	0.03x	0.02x	0.01x	0.04x	0.03x	0.14x	0.12x	0.04x	0.04x
Interest Coverage	-12.23x	-46.36x	90.78x	58.87x	77.76x	72.32x	-2.46x	4.96x	7.75x	30.38x
FCF Conversion	1.24x	-0.28x	0.56x	0.47x	1.28x	1.11x	4.11x	-12.32x	0.52x	3.29x
Revenue Growth	-2.52%	10.53%	32.69%	11.32%	11.11%	4.76%	-22.22%	24.79%	10.19%	12.93%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
Other Foreign Countries Member	-	-	-	32.03M	31.3M	25.01M
Other Foreign Countries Member Growth	-	-	-	-	-2.29%	-20.08%
Latin America	3.79M	-	-	-	12.93M	18.61M
Latin America Growth	-	-	-	-	-	43.92%
CANADA	-	-	-	-	11.16M	9.46M
CANADA Growth	-	-	-	-	-	-15.28%
Asia	2.07M	-	-	-	6.15M	2.38M
Asia Growth	-	-	-	-	-	-61.35%
Other Countries Member	-	-	-	305K	157K	62K
Other Countries Member Growth	-	-	-	-	-48.52%	-60.51%
OtherForeignCountriesMember	-	36.14M	35.77M	-	-	-
OtherForeignCountriesMember Growth	-	-	-1.02%	-	-	-
OtherForeignCountriesTwoMember	-	6.87M	9.13M	-	-	-
OtherForeignCountriesTwoMember Growth	-	-	32.91%	-	-	-
OtherForeignCountriesThreeMember	-	4.46M	5.68M	-	-	-
OtherForeignCountriesThreeMember Growth	-	-	27.26%	-	-	-
OtherForeignCountriesOneMember	-	766K	3.17M	-	-	-
OtherForeignCountriesOneMember Growth	-	-	313.45%	-	-	-
OtherCountriesMember	-	59K	134K	-	-	-
OtherCountriesMember Growth	-	-	127.12%	-	-	-
US	84.57M	-	-	-	-	-
US Growth	-	-	-	-	-	-
Israel	31.96M	-	-	-	-	-
Israel Growth	-	-	-	-	-	-
Europe	4.7M	-	-	-	-	-
Europe Growth	-	-	-	-	-	-
Others	96K	-	-	-	-	-
Others Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Kamada Ltd. (KMDA) has a price-to-earnings (P/E) ratio of 32.9x. This suggests investors expect higher future growth.

Growth & Financials

Kamada Ltd. (KMDA) reported $174.8M in revenue for fiscal year 2024. This represents a 213% increase from $55.9M in 2011.

Kamada Ltd. (KMDA) grew revenue by 12.9% over the past year. This is steady growth.

Yes, Kamada Ltd. (KMDA) is profitable, generating $20.4M in net income for fiscal year 2024 (9.0% net margin).

Dividend & Returns

Kamada Ltd. (KMDA) has a return on equity (ROE) of 5.7%. This is below average, suggesting room for improvement.

Kamada Ltd. (KMDA) generated $18.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.