Kamada Ltd. (KMDA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Kamada Ltd. (KMDA) stock price & volume — 10-year historical chart
Kamada Ltd. (KMDA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Kamada Ltd. (KMDA) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 11, 2026 | $0.06vs $0.09-33.3% | $45Mvs $45M-1.6% |
| Q4 2025 | Nov 10, 2025 | $0.09vs $0.10-10.0% | $47Mvs $148M-68.1% |
| Q3 2025 | Aug 13, 2025 | $0.13vs $0.09+44.4% | $45Mvs $155M-71.1% |
| Q2 2025 | May 14, 2025 | $0.07vs $0.07+0.0% | $44Mvs $162M-72.8% |
Kamada Ltd. (KMDA) competitors in Vaccines and biodefense products — business model, growth, and fundamentals comparison
Kamada Ltd. (KMDA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Kamada Ltd. (KMDA) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 102.83M | 114.47M | 127.19M | 133.25M | 103.64M | 129.34M | 142.52M | 160.95M | 195.34M |
| Revenue Growth % | 32.69% | 11.32% | 11.11% | 4.76% | -22.22% | 24.79% | 10.19% | 12.93% | 21.37% |
| Cost of Goods Sold | 70.74M | 73M | 77.45M | 85.69M | 73.31M | 82.64M | 87.03M | 90.99M | 117.06M |
| COGS % of Revenue | 68.79% | 63.77% | 60.89% | 64.31% | 70.74% | 63.89% | 61.06% | 56.53% | 59.92% |
| Gross Profit | 32.09M▲ 0% | 41.47M▲ 29.2% | 49.74M▲ 19.9% | 47.55M▼ 4.4% | 30.33M▼ 36.2% | 46.7M▲ 54.0% | 55.49M▲ 18.8% | 69.97M▲ 26.1% | 78.28M▲ 11.9% |
| Gross Margin % | 31.21% | 36.23% | 39.11% | 35.69% | 29.26% | 36.11% | 38.94% | 43.47% | 40.08% |
| Gross Profit Growth % | 48.21% | 29.24% | 19.93% | -4.39% | -36.22% | 53.99% | 18.81% | 26.09% | 11.89% |
| Operating Expenses | 24.64M | 22.21M | 26.95M | 28.32M | 31.02M | 42.17M | 45.43M | 49.92M | 49.89M |
| OpEx % of Revenue | 23.97% | 19.41% | 21.19% | 21.25% | 29.93% | 32.61% | 31.87% | 31.01% | 25.54% |
| Selling, General & Admin | 12.67M | 12.15M | 12.85M | 14.66M | 17.55M | 25.06M | 27.45M | 30.83M | 36.63M |
| SG&A % of Revenue | 12.32% | 10.62% | 10.1% | 11% | 16.93% | 19.37% | 19.26% | 19.16% | 18.75% |
| Research & Development | 11.97M | 9.75M | 13.06M | 13.61M | 11.36M | 13.17M | 13.93M | 15.19M | 13.26M |
| R&D % of Revenue | 11.64% | 8.52% | 10.27% | 10.21% | 10.96% | 10.18% | 9.78% | 9.43% | 6.79% |
| Other Operating Expenses | 0 | 997K | 1.05M | 49K | 2.12M | 3.94M | 4.04M | 3.9M | 0 |
| Operating Income | 7.44M▲ 0% | 19.26M▲ 158.7% | 22.78M▲ 18.3% | 19.24M▼ 15.6% | -696K▼ 103.6% | 4.53M▲ 751.1% | 10.06M▲ 122.1% | 20.05M▲ 99.2% | 28.4M▲ 41.6% |
| Operating Margin % | 7.24% | 16.82% | 17.91% | 14.44% | -0.67% | 3.5% | 7.06% | 12.46% | 14.54% |
| Operating Income Growth % | 227.44% | 158.72% | 18.3% | -15.57% | -103.62% | 751.15% | 122.07% | 99.23% | 41.62% |
| EBITDA | 11.09M | 22.82M | 27.3M | 24.48M | 4.91M | 16.69M | 21.53M | 33.86M | 44.54M |
| EBITDA Margin % | 10.79% | 19.94% | 21.47% | 18.37% | 4.74% | 12.9% | 15.11% | 21.04% | 22.8% |
| EBITDA Growth % | 546.69% | 105.71% | 19.64% | -10.33% | -79.93% | 239.65% | 29.05% | 57.24% | 31.55% |
| D&A (Non-Cash Add-back) | 3.65M | 3.56M | 4.52M | 5.25M | 5.61M | 12.15M | 11.47M | 13.81M | 16.15M |
| EBIT | 7.6M | 19.9M | 23.27M | 20.17M | -1.6M | -1.34M | 10.06M | 13.99M | 28.4M |
| Net Interest Income | 418K | 461.82K | 853K | 761K | 12K | -823K | -710K | 1.46M | 1.14M |
| Interest Income | 500K | 788.95K | 1.15M | 1.03M | 295K | 91K | 588K | 2.12M | 2.08M |
| Interest Expense | 82K | 327.13K | 293K | 266K | 283K | 914K | 1.3M | 660K | 935.25K |
| Other Income/Expense | -274K | 1.08M | 197K | -672K | -1.19M | -6.79M | -1.64M | -6.72M | -2.99M |
| Pretax Income | 7.17M▲ 0% | 20.34M▲ 183.7% | 22.98M▲ 13.0% | 18.57M▼ 19.2% | -1.89M▼ 110.2% | -2.26M▼ 19.8% | 8.43M▲ 473.1% | 13.33M▲ 58.2% | 25.4M▲ 90.5% |
| Pretax Margin % | 6.97% | 17.77% | 18.07% | 13.93% | -1.82% | -1.75% | 5.91% | 8.28% | 13% |
| Income Tax | 269K | -1.96M | 730K | 1.43M | 345K | 62K | 145K | -1.13M | 3.54M |
| Effective Tax Rate % | 3.75% | -9.61% | 3.18% | 7.68% | -18.3% | -2.74% | 1.72% | -8.46% | 13.93% |
| Net Income | 6.9M▲ 0% | 22.3M▲ 223.1% | 22.25M▼ 0.2% | 17.14M▼ 23.0% | -2.23M▼ 113.0% | -2.32M▼ 4.1% | 8.28M▲ 456.9% | 14.46M▲ 74.6% | 21.86M▲ 51.2% |
| Net Margin % | 6.71% | 19.48% | 17.49% | 12.86% | -2.15% | -1.79% | 5.81% | 8.99% | 11.19% |
| Net Income Growth % | 202.5% | 223.08% | -0.2% | -22.97% | -113.01% | -4.08% | 456.92% | 74.58% | 51.18% |
| Net Income (Continuing) | 6.9M | 22.3M | 22.25M | 17.14M | -2.23M | -2.32M | 8.28M | 14.46M | 21.86M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.18▲ 0% | 0.55▲ 205.6% | 0.57▲ 3.6% | 0.41▼ 28.1% | -0.05▼ 112.1% | -0.05▼ 4.0% | 0.15▲ 389.6% | 0.25▲ 66.7% | 0.37▲ 48.0% |
| EPS Growth % | 200% | 205.56% | 3.64% | -28.07% | -112.15% | -4.02% | 389.58% | 66.67% | 48% |
| EPS (Basic) | 0.18 | 0.55 | 0.57 | 0.42 | -0.05 | -0.05 | 0.17 | 0.25 | 0.38 |
| Diluted Shares Outstanding | 38.05M | 40.54M | 40.58M | 44.59M | 44.77M | 44.82M | 53.68M | 57.82M | 58.35M |
| Basic Shares Outstanding | 37.97M | 40.28M | 40.32M | 44.14M | 44.77M | 44.82M | 48.83M | 57.49M | 57.65M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | 57.1% |
Kamada Ltd. (KMDA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 96.88M | 110.89M | 143.56M | 177.91M | 130.04M | 139M | 169.96M | 184.35M | 193.12M |
| Cash & Short-Term Investments | 43.02M | 50.59M | 73.91M | 109.27M | 18.59M | 34.26M | 55.64M | 78.44M | 75.48M |
| Cash Only | 12.68M | 18.09M | 42.66M | 70.2M | 18.59M | 34.26M | 55.64M | 78.44M | 75.48M |
| Short-Term Investments | 30.34M | 32.5M | 31.25M | 39.07M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 31.97M | 29.5M | 25.23M | 23.05M | 35.56M | 28.36M | 21.29M | 23.2M | 29.05M |
| Days Sales Outstanding | 113.49 | 94.06 | 72.4 | 63.15 | 125.24 | 80.02 | 54.52 | 52.6 | 54.27 |
| Inventory | 21.07M | 29.32M | 43.17M | 43.04M | 71.83M | 72.52M | 88.48M | 78.82M | 84.96M |
| Days Inventory Outstanding | 108.72 | 146.59 | 203.46 | 183.33 | 357.61 | 320.3 | 371.08 | 316.19 | 264.92 |
| Other Current Assets | 0 | 0 | 15K | 448K | 73K | 0 | 149K | 49K | 0 |
| Total Non-Current Assets | 25.23M | 27.23M | 30.23M | 32.75M | 188.62M | 183.37M | 184.94M | 187.91M | 185.67M |
| Property, Plant & Equipment | 25.18M | 25M | 28.57M | 29.12M | 29.4M | 28.73M | 35.98M | 45.86M | 50.28M |
| Fixed Asset Turnover | 4.08x | 4.58x | 4.45x | 4.58x | 3.53x | 4.50x | 3.96x | 3.51x | 3.89x |
| Goodwill | 0 | 0 | 0 | 0 | 30.31M | 30.31M | 30.31M | 30.31M | 30.32M |
| Intangible Assets | 0 | 123K | 298K | 1.49M | 123.28M | 116.7M | 109.64M | 101.86M | 96.12M |
| Long-Term Investments | 0 | -123K | 0 | 0 | 0 | 0 | 0 | 0 | 7.55M |
| Other Non-Current Assets | 49K | 174K | 54K | 2.14M | 5.63M | 7.64M | 9.01M | 9.38M | 1.42M |
| Total Assets | 122.11M▲ 0% | 138.12M▲ 13.1% | 173.8M▲ 25.8% | 210.66M▲ 21.2% | 318.67M▲ 51.3% | 322.38M▲ 1.2% | 354.91M▲ 10.1% | 372.25M▲ 4.9% | 378.79M▲ 1.8% |
| Asset Turnover | 0.84x | 0.83x | 0.73x | 0.63x | 0.33x | 0.40x | 0.40x | 0.43x | 0.52x |
| Asset Growth % | 22.48% | 13.11% | 25.83% | 21.21% | 51.27% | 1.16% | 10.09% | 4.89% | 1.76% |
| Total Current Liabilities | 29.4M | 23.57M | 32.74M | 24.97M | 54.06M | 75.7M | 49.59M | 49.39M | 47.4M |
| Accounts Payable | 18.04M | 17.29M | 24.83M | 16.11M | 25.1M | 32.92M | 24.8M | 27.73M | 23.25M |
| Days Payables Outstanding | 93.06 | 86.43 | 117.02 | 68.62 | 124.98 | 145.39 | 104.03 | 111.26 | 72.49 |
| Short-Term Debt | 614K | 452K | 489K | 238K | 2.63M | 4.44M | 0 | 0 | 2.12M |
| Deferred Revenue (Current) | 4.93M | 461K | 589K | 222K | 247K | 236K | 325K | 171K | 0 |
| Other Current Liabilities | 1.08M | 553K | 5.67M | 7.03M | 24.33M | 36.48M | 22.54M | 19.4M | 11.77M |
| Current Ratio | 3.30x | 4.70x | 4.39x | 7.13x | 2.41x | 1.84x | 3.43x | 3.73x | 4.07x |
| Quick Ratio | 2.58x | 3.46x | 3.07x | 5.40x | 1.08x | 0.88x | 1.64x | 2.14x | 2.28x |
| Cash Conversion Cycle | 129.15 | 154.21 | 158.84 | 177.86 | 357.87 | 254.93 | 321.57 | 257.53 | 246.7 |
| Total Non-Current Liabilities | 3.22M | 2.17M | 5.74M | 7.06M | 87.79M | 70.65M | 61.29M | 63.4M | 62.26M |
| Long-Term Debt | 1.37M | 688K | 257K | 36K | 17.41M | 12.96M | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 28K | 3.98M | 3.59M | 3.16M | 2.18M | 7.44M | 9.43M | 9.44M |
| Deferred Tax Liabilities | 21.06M | 16.92M | 0 | 0 | 0 | 0 | 0 | 0 | 1.65M |
| Other Non-Current Liabilities | 1.14M | 787K | 1.27M | 1.41M | 67.2M | 55.51M | 53.85M | 53.97M | 51.17M |
| Total Liabilities | 32.62M | 25.74M | 38.48M | 32.03M | 141.84M | 146.36M | 110.89M | 112.79M | 109.66M |
| Total Debt | 1.98M | 1.28M | 5.75M | 4.94M | 24.35M | 20.6M | 8.82M | 11.06M | 11.56M |
| Net Debt | -10.7M | -16.82M | -36.91M | -65.26M | 5.76M | -13.66M | -46.82M | -67.37M | -63.92M |
| Debt / Equity | 0.02x | 0.01x | 0.04x | 0.03x | 0.14x | 0.12x | 0.04x | 0.04x | 0.04x |
| Debt / EBITDA | 0.18x | 0.06x | 0.21x | 0.20x | 4.96x | 1.23x | 0.41x | 0.33x | 0.26x |
| Net Debt / EBITDA | -0.96x | -0.74x | -1.35x | -2.67x | 1.17x | -0.82x | -2.17x | -1.99x | -1.44x |
| Interest Coverage | 90.78x | 58.87x | 77.76x | 72.32x | -2.46x | 4.96x | 7.75x | 30.38x | 30.36x |
| Total Equity | 89.49M▲ 0% | 112.38M▲ 25.6% | 135.32M▲ 20.4% | 178.64M▲ 32.0% | 176.82M▼ 1.0% | 176.02M▼ 0.5% | 244.02M▲ 38.6% | 259.46M▲ 6.3% | 269.13M▲ 3.7% |
| Equity Growth % | 34.08% | 25.57% | 20.42% | 32.01% | -1.02% | -0.45% | 38.63% | 6.33% | 3.72% |
| Book Value per Share | 2.35 | 2.77 | 3.33 | 4.01 | 3.95 | 3.93 | 4.55 | 4.49 | 4.61 |
| Total Shareholders' Equity | 89.49M | 112.38M | 135.32M | 178.64M | 176.82M | 176.02M | 244.02M | 259.46M | 269.13M |
| Common Stock | 10.4M | 10.41M | 10.43M | 11.71M | 11.72M | 11.73M | 15.02M | 15.03M | 15.08M |
| Retained Earnings | -104.56M | -83.02M | -61.07M | -43.93M | -46.16M | -48.48M | -40.2M | -25.74M | -17.08M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3.79M | -3.51M | -3.7M | -3.45M | -3.58M | -3.23M | -3.08M | -3.08M | 2.78M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Kamada Ltd. (KMDA) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 3.89M | 10.55M | 28.44M | 19.11M | -9.17M | 28.59M | 4.32M | 47.59M | 27.59M |
| Operating CF Margin % | 3.78% | 9.21% | 22.36% | 14.34% | -8.85% | 22.1% | 3.03% | 29.57% | 14.12% |
| Operating CF Growth % | 105.06% | 171.11% | 169.69% | -32.83% | -147.98% | 411.82% | -84.91% | 1002.99% | -42.03% |
| Net Income | 6.9M | 22.3M | 22.95M | 17.14M | -2.32M | -2.32M | 8.28M | 14.46M | 21.86M |
| Depreciation & Amortization | 3.52M | 3.7M | 4.66M | 4.9M | 5.83M | 12.15M | 12.71M | 13.81M | 16.15M |
| Stock-Based Compensation | 483K | 948K | 0 | 977K | 0 | 1.15M | 1.31M | 874K | 0 |
| Deferred Taxes | 269K | -1.96M | 748.91K | 1.43M | 0 | 62K | 145K | -1.13M | 0 |
| Other Non-Cash Items | 650K | -380K | 1.85M | 1.77M | 2.3M | 5.89M | 60K | 8.16M | 8.72M |
| Working Capital Changes | -7.94M | -14.07M | -1.77M | -7.1M | -14.98M | 11.65M | -18.2M | 11.41M | -19.14M |
| Change in Receivables | -9.97M | 2.31M | 5.06M | 1.45M | -15.07M | 5.68M | 9.5M | -908K | -5.92M |
| Change in Inventory | 4.52M | -8.25M | -14.29M | 1.16M | -2.47M | -1.36M | -19.69M | 9.66M | -6.63M |
| Change in Payables | -556K | -1.12M | 6.46M | -9.56M | 8.23M | 7.05M | -8.88M | 1.23M | -7.44M |
| Cash from Investing | -15.89M | -5.18M | -581.8K | -13.13M | -63.46M | -3.78M | -5.84M | -10.74M | -10.65M |
| Capital Expenditures | -4.45M | -2.88M | -2.37M | -5.49M | -3.88M | -3.78M | -5.85M | -10.74M | -10.66M |
| CapEx % of Revenue | 4.33% | 2.52% | 1.87% | 4.12% | 3.74% | 2.93% | 4.1% | 6.67% | 5.46% |
| Acquisitions | 62.16K | 28.86K | 9.28K | 0 | -100.21M | 0 | 0 | 0 | 8.66K |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -11.44M | -2.29M | 0 | 7K | 0 | 0 | 7K | 1K | 0 |
| Cash from Financing | 15.32M | -587K | -1.58M | 23.36M | 19.33M | -9.34M | 22.68M | -13.91M | -19.86M |
| Debt Issued (Net) | -251K | -596K | -491.02K | -1.59M | 20.58M | -3.73M | -18.26M | -1.25M | 0 |
| Equity Issued (Net) | 1000K | 0 | 16.5K | 1000K | 19.75K | 0 | 1000K | 0 | 54.12K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.49M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 3K | 9K | -1.1M | 64K | -1.27M | -5.62M | -17.3M | -12.66M | -7.43M |
| Net Change in Cash | 2.71M▲ 0% | 5.41M▲ 99.5% | 24.57M▲ 354.0% | 27.54M▲ 12.1% | -51.58M▼ 287.3% | 15.67M▲ 130.4% | 21.38M▲ 36.4% | 22.79M▲ 6.6% | -2.95M▼ 112.9% |
| Free Cash Flow | -559K▲ 0% | 7.66M▲ 1470.7% | 26.07M▲ 240.2% | 13.62M▼ 47.8% | -13.04M▼ 195.8% | 24.8M▲ 290.1% | -1.53M▼ 106.2% | 36.85M▲ 2500.9% | 16.93M▼ 54.1% |
| FCF Margin % | -0.54% | 6.69% | 20.5% | 10.22% | -12.59% | 19.18% | -1.08% | 22.9% | 8.67% |
| FCF Growth % | 24.87% | 1470.66% | 240.23% | -47.76% | -195.8% | 290.13% | -106.19% | 2500.91% | -54.05% |
| FCF per Share | -0.01 | 0.19 | 0.64 | 0.31 | -0.29 | 0.55 | -0.03 | 0.64 | 0.29 |
| FCF Conversion (FCF/Net Income) | 0.56x | 0.47x | 1.28x | 1.11x | 4.11x | -12.32x | 0.52x | 3.29x | 1.26x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Kamada Ltd. (KMDA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -9.67% | 8.83% | 22.09% | 17.97% | 10.92% | -1.25% | -1.32% | 3.94% | 5.74% | 8.27% |
| Return on Invested Capital (ROIC) | -6.94% | 8.13% | 16.57% | 17.62% | 13.63% | -0.35% | 1.97% | 4.2% | 7.73% | 10.72% |
| Gross Margin | 27.94% | 31.21% | 36.23% | 39.11% | 35.69% | 29.26% | 36.11% | 38.94% | 43.47% | 40.08% |
| Net Margin | -8.69% | 6.71% | 19.48% | 17.49% | 12.86% | -2.15% | -1.79% | 5.81% | 8.99% | 11.19% |
| Debt / Equity | 0.03x | 0.02x | 0.01x | 0.04x | 0.03x | 0.14x | 0.12x | 0.04x | 0.04x | 0.04x |
| Interest Coverage | -46.36x | 90.78x | 58.87x | 77.76x | 72.32x | -2.46x | 4.96x | 7.75x | 30.38x | 30.36x |
| FCF Conversion | -0.28x | 0.56x | 0.47x | 1.28x | 1.11x | 4.11x | -12.32x | 0.52x | 3.29x | 1.26x |
| Revenue Growth | 10.53% | 32.69% | 11.32% | 11.11% | 4.76% | -22.22% | 24.79% | 10.19% | 12.93% | 21.37% |
Kamada Ltd. (KMDA) stock FAQ — growth, dividends, profitability & financials explained
Kamada Ltd. (KMDA) reported $181.4M in revenue for fiscal year 2025. This represents a 1092% increase from $15.2M in 2008.
Kamada Ltd. (KMDA) grew revenue by 21.4% over the past year. This is strong growth.
Yes, Kamada Ltd. (KMDA) is profitable, generating $20.3M in net income for fiscal year 2025 (11.2% net margin).
Yes, Kamada Ltd. (KMDA) pays a dividend with a yield of 2.58%. This makes it attractive for income-focused investors.
Kamada Ltd. (KMDA) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.
Kamada Ltd. (KMDA) generated $15.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Kamada Ltd. (KMDA) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates