Krystal Biotech Inc (KRYS) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Krystal Biotech Inc stock $336, price $300, upside +11.8%, quality 73 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $39.81 – $378.15 · fair‑value band $182.17 – $611.27 · the $300.25 price screens below the $335.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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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.
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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.
Stock analysis
Krystal Biotech Inc (KRYS) currently trades at $300.25, while our model-based Fair Value estimate is $335.53, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $321.14 per share, and 2 of the 24 models we run sit above the $300.25 price.
Bear case: the Economic Profit group reads lowest at $61.69, and 22 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $182.17 (bear) to $611.27 (bull), the price of $300.25 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Krystal Biotech Inc reported revenue of $389M in FY2025 versus $0 in FY2021. Reported net income was $205M in FY2025.
Key figures
Market cap $9.2B Mid · P/E ratio 40.8 · P/S ratio 19.6 · EPS (TTM) $7.36 · Net margin 47.9% · Return on equity 17.5% · Return on assets (EBIT) −6.4% · Operating margin 55.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 87 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 52% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at 12%, KRYS screens cheaper than that median.
Fair Value models
Bear$182.17Fair Value $335.53Bull$611.27
Price $300.25 · Upside +11.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($6.25 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 4 officers or directors sold shares worth $42.1M and none bought.
SaleKrish S KrishnanPresident and CEO, Director, 10% owner4× since Dec 4, 2025: 125,000 shares, avg. $274.18$34.3MSep 4, 202610b5-1 plan
SaleSuma KrishnanPresident, R&D, Director, 10% owner4× since Dec 4, 2025: 125,000 shares, avg. $274.19$34.3MSep 4, 202610b5-1 plan
SaleDino A RossiDirector2× since Feb 19, 2026: 43,950 shares, avg. $299.92$13.2MAug 14, 2026
SaleJohn Charles ThomasEVP, General Counsel2× since May 26, 2026: 1,642 shares, avg. $329.58$541,173Jun 25, 202610b5-1 plan
SaleKathryn RomanoChief Accounting Officer2× since Feb 9, 2026: 13,250 shares, avg. $271.88$3.6MMar 2, 202610b5-1 plan
SaleDaniel JanneyDirector2× since Feb 24, 2026: 71,964 shares, avg. $269.61$19.4MFeb 27, 202610b5-1 plan
Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+33.9%
Revenue growth 7 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+133.5%
’18
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1,160.3% (2018) → 41.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+22.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+24.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +19.2% a year for the price and +21.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (88 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Strong profitability and cash reserves from VYJUVEK sales form the main strength, while thin public signals and dependence on further pipeline progress mark the chief weakness.
Main risk: Abeona Therapeutics' approved skin-graft gene therapy Zevaskyn could capture patients from Krystal's topical VYJUVEK in dystrophic epidermolysis bullosa and pressure pricing or margins.
Bull case: Krystal could leverage its HSV-1 platform and international VYJUVEK launches to accelerate pipeline approvals in cystic fibrosis and other indications and thereby diversify beyond the initial product.
Bear case: Abeona's Zevaskyn or other rivals could gain traction in DEB while pipeline readouts slip further, leaving Krystal with slower revenue growth and greater dependence on a single maturing product.
Krystal Biotech reports solid revenue from VYJUVEK, but US sales have plateaued while international markets drive the recent growth. The company stays profitable with a strong cash position, yet future expansion now hinges more on pipeline progress and ex-US uptake. Our models see the stock as undervalued. Will the pipeline assets add meaningful revenue before any US slowdown deepens, or will global launches alone keep the business on track?
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Biotechnology · 564 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+11.8% · Top 25%
Profitability
Return on equity (12 months)17.5% · Top 25%
Return on assets15.4% · Top 25%
Net margin (12 months)47.9% · Top 25%
Operating margin (12 months)55.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)30.2% · Top 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/E (12 months)40.8× · Pricier than median
P/B7.55× · Priciest 25%
P/S (12 months)19.58× · Priciest 25%
Price / free cash flow (fiscal year)48.7× · Pricier than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Krystal Biotech Inc (KRYS) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $335.53 versus a price of $300.25, about +12% upside (undervalued).
What is the fair value of KRYS?
Our model-based fair value for Krystal Biotech Inc is $335.53 (as of Nov 4, 2026), built from audited fundamentals. The current price: $300.25.
What is the quality score of KRYS?
Krystal Biotech Inc has a Quality Score of 73/100. 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 price target for Krystal Biotech Inc (KRYS)?
Our model-based price target is the fair value of $335.53 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario $182.17, optimistic scenario $611.27. It is a calculation from audited fundamentals, not an analyst target.
What is the Krystal Biotech Inc stock forecast for 2026?
Our models put fair value at $335.53, about +12% upside versus a price of $300.25 (undervalued). Cautious scenario $182.17, optimistic scenario $611.27. The calculation is refreshed regularly with new filings.
What is the revenue of Krystal Biotech Inc (KRYS)?
Krystal Biotech Inc reported trailing-twelve-month revenue of about $470M (latest available figure, as of Nov 4, 2026).
What growth is priced into Krystal Biotech Inc (KRYS)?
For today's price to be fair in a discounted-cash-flow model, Krystal Biotech Inc would have to grow free cash flow by +22.0 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 7 years revenue grew +133.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of KRYS use?
Our models discount Krystal Biotech Inc at 8.9 %: a base by market capitalisation (mid), damped by beta 0.65, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Krystal Biotech Inc that is +22.0 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Krystal Biotech Inc (KRYS) delivered so far?
Over the past 7 years revenue at Krystal Biotech Inc grew +133.5 % a year. The price currently implies +22.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Krystal Biotech Inc (KRYS) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Krystal Biotech Inc (+22.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Krystal Biotech Inc (KRYS)?
The free-cash-flow yield on the price is 2.05 %: that much free cash flow Krystal Biotech Inc produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Krystal Biotech Inc (KRYS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Krystal Biotech Inc it is $335.53 per share (as of Nov 4, 2026), against a price of $300.25. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Krystal Biotech Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, KRYS trades below its calculated fair value: price $300.25, fair value $335.53, a gap of about +12% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KRYS?
No. The price is what the market pays today ($300.25); the fair value is what the company's own numbers justify ($335.53). For Krystal Biotech Inc the two are $35.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Krystal Biotech Inc worth?
The market values Krystal Biotech Inc at about $9.2B (market capitalisation, as of Nov 4, 2026). Per share that is $300.25; our models calculate a fair value of $335.53 per share.
What do the bullish and bearish scenarios say about KRYS?
Our models span a range for Krystal Biotech Inc: cautious scenario $182.17, base $335.53, optimistic $611.27 per share (as of Nov 4, 2026, price $300.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KRYS?
Krystal Biotech Inc trades at a price-to-earnings ratio of 40.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $335.53 is built from several models across several years. Other multiples: P/B 7.6, P/S 19.6, EV/EBITDA 38.0.
How solid is the balance sheet of Krystal Biotech Inc (KRYS)?
Balance-sheet figures for Krystal Biotech Inc (as of Nov 4, 2026): return on equity 17.5%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is KRYS from its 52-week high?
Krystal Biotech Inc trades at $300.25, about 21% below its 52-week high of $378.15 and 52% above the low of $197.93 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $335.53 is for.
Which stocks are comparable to Krystal Biotech Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Krystal Biotech Inc stock attractive at the current price?
The data as of Nov 4, 2026: price $300.25, calculated fair value $335.53 (+12%), Quality Score 73/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KRYS calculated?
We run Krystal Biotech Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $335.53, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Krystal Biotech Inc currently trades 11% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Krystal Biotech Inc (KRYS)?
The closing price on Nov 5, 2026 was $300.25. Our model-based fair value is $335.53, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Krystal Biotech Inc right now?
The model range is unusually wide ($182.17 to $611.27). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Krystal Biotech Inc
How large is the market capitalisation of Krystal Biotech Inc (KRYS)?
The market capitalisation of Krystal Biotech Inc is $9.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Krystal Biotech Inc (KRYS)?
The price-to-sales ratio of Krystal Biotech Inc is 19.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Krystal Biotech Inc (KRYS)?
Earnings per share at Krystal Biotech Inc are $7.36 (price ÷ EPS = P/E 40.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Krystal Biotech Inc (KRYS)?
The net margin of Krystal Biotech Inc is 47.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Krystal Biotech Inc (KRYS)?
The return on equity (ROE) of Krystal Biotech Inc is 17.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Krystal Biotech Inc (KRYS)?
On an EBIT basis the return on assets of Krystal Biotech Inc is −6.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Krystal Biotech Inc (KRYS)?
The operating margin of Krystal Biotech Inc is 55.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Krystal Biotech Inc (KRYS)?
Revenue at Krystal Biotech Inc is growing +30.2% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Krystal Biotech Inc (KRYS)?
Earnings per share at Krystal Biotech Inc are growing −22.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Krystal Biotech Inc (KRYS) hold?
Krystal Biotech Inc holds more cash than debt, $487M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 4, 2026