Latest Ratios: P/E Ratio 101.1x · EV/EBITDA 71.3x · ROE 11.7%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.8B | $3.3B | $1.4B | $1.3B | $1.1B | $807M | $1.1B | $598M | $830M | — | — |
| Enterprise Value | $5.6B | $3.1B | $1.2B | $1.2B | $938M | $691M | $986M | $554M | $523M | — | — |
| P/E Ratio → | 101.05 | 55.00 | — | 87.70 | 5.76 | — | — | — | — | — | — |
| P/S Ratio | 8.52 | 4.81 | 3.34 | 4.67 | 4.79 | 20.94 | — | — | — | — | — |
| P/B Ratio | 10.55 | 5.74 | 3.22 | 2.87 | 2.66 | 4.36 | 3.50 | 2.65 | — | — | — |
| P/FCF | 227.28 | 128.20 | 55.59 | 95.78 | 185.01 | — | — | — | — | — | — |
| P/OCF | 224.83 | 126.82 | 55.00 | 94.84 | 181.66 | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.58 | 2.93 | 4.31 | 4.26 | 17.92 | — | — | — | — | — |
| EV / EBITDA | 71.34 | 39.38 | — | — | 77.05 | — | — | — | — | — | — |
| EV / EBIT | 72.77 | 34.90 | — | — | 85.08 | — | — | — | — | — | — |
| EV / FCF | — | 122.06 | 48.76 | 88.52 | 164.52 | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.6% | 54.6% | 85.6% | 79.1% | 89.6% | 76.4% | — | — | — | — | — |
| Operating Margin | 11.4% | 11.4% | -10.8% | -9.3% | 4.4% | -406.4% | — | — | — | — | — |
| Net Profit Margin | 8.7% | 8.7% | -10.2% | 5.2% | 83.3% | -409.7% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.7% | 11.7% | -9.8% | 3.4% | 63.1% | -63.6% | -60.1% | -1037.7% | — | — | — |
| ROA | 8.8% | 8.8% | -7.8% | 2.9% | 53.0% | -54.2% | -53.4% | -56.2% | -55.9% | -124.8% | -42.5% |
| ROIC | 17.1% | 17.1% | -11.3% | -6.1% | 4.2% | -85.9% | -61.1% | -70.4% | — | — | — |
| ROCE | 14.0% | 14.0% | -9.7% | -5.8% | 3.3% | -62.0% | -57.8% | -67.2% | -69.9% | -155.3% | -44.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 | 0.03 | 0.02 | 0.01 | — | — | — |
| Debt / EBITDA | 0.12 | 0.12 | — | — | 0.49 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.28 | -0.40 | -0.22 | -0.29 | -0.63 | -0.34 | -0.20 | — | — | — |
| Net Debt / EBITDA | -1.98 | -1.98 | — | — | -9.59 | — | — | — | — | — | — |
| Debt / FCF | — | -6.14 | -6.84 | -7.27 | -20.48 | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($166M) exceeds total debt ($9M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.79 | 3.79 | 3.30 | 4.34 | 5.16 | 4.38 | 10.46 | 8.68 | 7.37 | 2.70 | 24.47 |
| Quick Ratio | 3.39 | 3.39 | 3.04 | 3.85 | 4.71 | 4.30 | 10.46 | 8.68 | 7.37 | 2.70 | 24.47 |
| Cash Ratio | 2.98 | 2.98 | 2.42 | 3.24 | 4.05 | 4.06 | 10.16 | 8.39 | 7.22 | 2.61 | 24.31 |
| Asset Turnover | — | 0.89 | 0.73 | 0.51 | 0.48 | 0.17 | — | — | — | — | — |
| Inventory Turnover | 5.60 | 5.60 | 2.31 | 1.82 | 1.06 | 2.48 | — | — | — | — | — |
| Days Sales Outstanding | — | 8.40 | 35.98 | 28.72 | 33.68 | 37.74 | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 1.8% | — | 1.1% | 17.4% | — | — | — | — | — | — |
| FCF Yield | 0.4% | 0.8% | 1.8% | 1.0% | 0.5% | — | — | — | — | — | — |
| Buyback Yield | 0.1% | 0.2% | 0.4% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.1% | 0.2% | 0.4% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $79M | $71M | $72M | $70M | $69M | $62M | $54M | $30M | $32M | $32M |
Includes 30+ ratios · 10 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KNSA stock.
Kiniksa Pharmaceuticals International, plc's current P/E ratio is 101.1x. The historical average is 49.5x. This places it at the 100th percentile of its historical range.
Kiniksa Pharmaceuticals International, plc's current EV/EBITDA is 71.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 58.2x.
Kiniksa Pharmaceuticals International, plc's return on equity (ROE) is 11.7%. The historical average is -9.2%.
Based on historical data, Kiniksa Pharmaceuticals International, plc is trading at a P/E of 101.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kiniksa Pharmaceuticals International, plc has 54.6% gross margin and 11.4% operating margin. Operating margin between 10-20% is typical for established companies.
Kiniksa Pharmaceuticals International, plc's Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
KPL-404 clinical execution risk
Metrics are mathematically derived from official filings.
Margin Ceiling Reflects Profit Share
Gross margin has stabilized near 54-55% over the past year, as reported in financial statements, well below the 80-90% typical for orphan drugs, likely due to the Regeneron profit-sharing arrangement that caps upside.
Operating margin expanded to 11.2% in 2026Q2 from 9.8% in 2025Q4, based on reported figures, as SG&A grew only 36% against 55% revenue growth, indicating improving overhead efficiency. However, the structural gross margin ceiling means that net margin improvements must come from operating leverage rather than product-level economics. Investors should monitor whether the 11.4% operating margin can be sustained if R&D spending accelerates for late-stage trials.
Return on Capital Inflects Sharply
ROIC turned positive in 2025Q1 and reached 4.5% by 2026Q2, per the latest quarterly report, a dramatic improvement from -4.7% in 2024Q4, suggesting the commercial scale-up is beginning to generate returns on invested capital.
The improvement in ROIC is driven primarily by margin expansion rather than asset turnover, which remains low at 0.28x, reflecting the asset-light model. As ARCALYST revenue scales, ROIC should continue to rise, but the Regeneron profit share may cap the ultimate return level. The transition from negative to positive ROIC marks a critical inflection point, but the absolute level remains modest compared to mature biopharma peers.
Working Capital Efficiency Improves
Cash conversion cycle shortened to 52 days in 2026Q2 from 85 days in 2024Q1, as reported in financial statements, driven by faster collections and lower inventory days, indicating improved working capital management.
DSO dropped to 9 days in 2026Q2 from 21 days a year earlier, reflecting the specialty pharmacy distribution model and prompt payer reimbursements. DIO has risen to 59 days, but this is likely due to building safety stock for commercial supply. The negative DPO trend (15 days) suggests limited supplier leverage, but the overall CCC improvement is a positive sign of operational discipline.
Minimal Leverage Provides Flexibility
Debt-to-equity stands at 0.01 with D/EBITDA of 0.32, as per the latest balance sheet, indicating negligible leverage and ample financial flexibility for future investments or potential acquisitions.
Total debt declined to $8.9M in 2026Q2, and interest coverage is not a concern given the minimal debt load. The low leverage is a strategic advantage in a rising rate environment, as Kiniksa does not require frequent capital markets access. However, the company's reliance on collaboration revenue and the Regeneron profit share means that its effective economic leverage may be higher than the balance sheet suggests.
Strong Liquidity Buffer Supports Growth
Current ratio stands at 3.90 with quick ratio at 3.49 in 2026Q2, per the latest balance sheet, providing a robust buffer against operational shocks and funding for ongoing R&D initiatives.
Cash of $175.7M and minimal debt give Kiniksa a fortress-like liquidity position, which is critical given the lumpy nature of collaboration revenue and the high cost of clinical trials. The current ratio has remained above 3.0 for the past ten quarters, indicating consistent liquidity strength. This buffer allows the company to weather potential delays in pipeline milestones or unexpected competitive pressures.
P/E Misleads on Earnings Quality
The trailing P/E of 99.12, as reported in valuation data, is misleading because GAAP earnings include stock-based compensation and one-time collaboration milestones, obscuring the underlying cash-generative nature of the ARCALYST franchise.
A more appropriate metric is EV/EBITDA, which at 69.93 still appears rich but better captures the operating economics after adjusting for non-cash charges. However, even EV/EBITDA fails to account for the Regeneron profit share, which is a permanent cash outflow. Investors should use a normalized earnings figure that excludes stock-based compensation and milestone revenue to assess the sustainable earning power of the commercial business.