NASDAQ : KMDA
Kamada Ltd. — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · Israel
Last price 7.95 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 451.69M
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Financial statements
Kamada Ltd. (KMDA) reported revenue of 191.85M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 191.85M | 180.46M | 160.95M | 142.52M | 129.34M | 103.64M |
| Cost of Revenue | 113.54M | 104.05M | 90.99M | 87.03M | 82.64M | 73.31M |
| Gross Profit | 78.31M | 76.41M | 69.97M | 55.49M | 46.70M | 30.33M |
| Selling, General & Admin | 43.50M | 40.09M | 35.69M | 30.57M | 28.09M | 19.96M |
| Research & Development | 7.00M | 10.08M | 13.63M | 13.93M | 13.17M | 9.22M |
| Other Operating Expenses | -14.00K | 601.00K | 919.00K | 912.00K | 53.00K | |
| Operating Expenses | 50.48M | 50.17M | 49.92M | 45.43M | 42.17M | 29.23M |
| Operating Income | 27.83M | 26.23M | 20.05M | 10.06M | 4.53M | 1.10M |
| Interest Expense | -1.04M | -864.00K | -660.00K | -1.30M | -914.00K | |
| Interest & Investment Income | 1.79M | 1.92M | 2.12M | 588.00K | 91.00K | 295.00K |
| Currency Exchange Gain (Loss) | -999.00K | -1.03M | 45.00K | -94.00K | -250.00K | -207.00K |
| Other Non Operating Income (Expenses) | -142.00K | -142.00K | -139.00K | 149.00K | 548.00K | -283.00K |
| EBT Excluding Unusual Items | 27.44M | 26.12M | 21.41M | 9.41M | 4.01M | 903.00K |
| Merger & Restructuring Charges | -1.79M | |||||
| Other Unusual Items | -762.00K | -2.65M | -8.08M | -980.00K | -6.27M | -994.00K |
| Pretax Income | 26.68M | 23.47M | 13.33M | 8.43M | -2.26M | -1.89M |
| Income Tax Expense | 4.43M | 3.27M | -1.13M | 145.00K | 62.00K | 345.00K |
| Net Income | 22.25M | 20.20M | 14.46M | 8.28M | -2.32M | -2.23M |
| Net Income to Common | 22.25M | 20.20M | 14.46M | 8.28M | -2.32M | -2.23M |
| Shares Outstanding (Basic) | 58.41M | 57.65M | 57.49M | 48.83M | 44.82M | 44.77M |
| Shares Outstanding (Diluted) | 58.41M | 58.35M | 57.82M | 53.68M | 44.86M | 44.90M |
| EPS (Basic) | 0.38 | 0.35 | 0.25 | 0.17 | -0.05 | -0.05 |
| EPS (Diluted) | 0.38 | 0.35 | 0.25 | 0.15 | -0.05 | -0.05 |
| Free Cash Flow | 26.32M | 15.64M | 36.85M | -1.53M | 24.80M | -12.55M |
| Free Cash Flow Per Share | 0.45 | 0.27 | 0.64 | -0.03 | 0.55 | -0.28 |
| Dividend Per Share | 0.25 | 0.25 | ||||
| Gross Margin | 40.82% | 42.34% | 43.47% | 38.93% | 36.11% | 29.26% |
| Operating Margin | 14.51% | 14.54% | 12.46% | 7.06% | 3.50% | 1.06% |
| Profit Margin | 11.60% | 11.19% | 8.98% | 5.81% | -1.80% | -2.15% |
| Free Cash Flow Margin | 13.72% | 8.67% | 22.90% | -1.08% | 19.18% | -12.11% |
| EBITDA | 41.49M | 39.51M | 32.37M | 22.78M | 16.69M | 6.71M |
| EBITDA Margin | 21.63% | 21.89% | 20.11% | 15.98% | 12.90% | 6.47% |
| D&A For EBITDA | 13.66M | 13.28M | 12.32M | 12.71M | 12.15M | 5.61M |
| EBIT | 27.83M | 26.23M | 20.05M | 10.06M | 4.53M | 1.10M |
| EBIT Margin | 14.51% | 14.54% | 12.46% | 7.06% | 3.50% | 1.06% |
| Effective Tax Rate | 16.60% | 13.93% | 1.72% | |||
| Revenue as Reported | 191.85M | 180.46M | 160.95M | 142.52M | 129.34M | 103.64M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 29.47M | 75.47M | 78.44M | 55.64M | 34.26M | 18.59M |
| Short-Term Investments | 40.66M | |||||
| Cash & Short-Term Investments | 70.13M | 75.47M | 78.44M | 55.64M | 34.26M | 18.59M |
| Accounts Receivable | 36.71M | 27.01M | 21.55M | 19.88M | 27.25M | 35.16M |
| Other Receivables | 5.86M | 1.59M | 1.14M | 1.03M | 1.10M | 400.00K |
| Receivables | 42.57M | 28.60M | 22.68M | 20.91M | 28.36M | 35.56M |
| Inventory | 86.88M | 84.94M | 78.82M | 88.48M | 72.52M | 71.83M |
| Prepaid Expenses | 3.62M | 3.85M | 4.41M | 3.88M | 3.99M | |
| Other Current Assets | 444.00K | 563.00K | 530.00K | 73.00K | ||
| Total Current Assets | 199.57M | 193.07M | 184.35M | 169.96M | 139.00M | 130.04M |
| Property, Plant & Equipment | 52.00M | 50.27M | 45.86M | 35.98M | 28.73M | 29.40M |
| Goodwill | 30.31M | 30.31M | 30.31M | 30.31M | 30.31M | 30.31M |
| Other Intangible Assets | 93.97M | 96.10M | 101.86M | 109.64M | 116.70M | 123.28M |
| Long-Term Accounts Receivable | 7.31M | 7.54M | 8.02M | 8.49M | 7.58M | 5.56M |
| Long-Term Deferred Tax Assets | 488.00K | |||||
| Other Long-Term Assets | 1.42M | 1.37M | 510.00K | 63.00K | 71.00K | |
| Total Assets | 383.16M | 378.71M | 372.25M | 354.91M | 322.38M | 318.67M |
| Accounts Payable | 28.35M | 23.24M | 27.73M | 24.80M | 32.92M | 25.10M |
| Accrued Expenses | 12.11M | 9.67M | 8.08M | 7.29M | 6.93M | |
| Current Portion of Long-Term Debt | 4.44M | 2.63M | ||||
| Current Portion of Leases | 2.29M | 2.12M | 1.63M | 1.38M | 1.02M | 1.15M |
| Current Unearned Revenue | 161.00K | 171.00K | 325.00K | 236.00K | 247.00K | |
| Other Current Liabilities | 18.36M | 9.92M | 10.18M | 15.00M | 29.80M | 17.99M |
| Total Current Liabilities | 49.16M | 47.39M | 49.39M | 49.59M | 75.70M | 54.06M |
| Long-Term Debt | 12.96M | 17.41M | ||||
| Long-Term Leases | 9.52M | 9.44M | 9.43M | 7.44M | 2.18M | 3.16M |
| Long-Term Unearned Revenue | 15.00K | |||||
| Pension & Post-Retirement Benefits | 821.00K | 670.00K | 509.00K | 621.00K | 672.00K | 1.28M |
| Long-Term Deferred Tax Liabilities | 3.82M | 1.65M | ||||
| Other Long-Term Liabilities | 50.29M | 50.48M | 53.46M | 53.23M | 54.84M | 65.92M |
| Total Liabilities | 113.60M | 109.64M | 112.79M | 110.89M | 146.36M | 141.84M |
| Common Stock | 15.08M | 15.08M | 15.03M | 15.02M | 11.73M | 11.72M |
| Additional Paid-In Capital | 268.40M | 268.28M | 266.93M | 265.85M | 210.50M | 210.20M |
| Retained Earnings | -18.10M | -17.07M | -25.74M | -40.20M | -48.48M | -46.16M |
| Comprehensive Income & Other | 4.17M | 2.78M | 3.24M | 3.35M | 2.27M | 1.06M |
| Shareholders' Equity | 269.56M | 269.07M | 259.46M | 244.02M | 176.02M | 176.82M |
| Total Liabilities & Equity | 383.16M | 378.71M | 372.25M | 354.91M | 322.38M | 318.67M |
| Total Debt | 11.80M | 11.56M | 11.06M | 8.82M | 20.60M | 24.35M |
| Net Cash (Debt) | 58.33M | 63.91M | 67.37M | 46.82M | 13.66M | -5.76M |
| Net Cash Per Share | 1.00 | 1.10 | 1.17 | 0.87 | 0.30 | -0.13 |
| Filing Date Shares Outstanding | 57.89M | 57.69M | 57.51M | 57.48M | 44.83M | 44.80M |
| Total Common Shares Outstanding | 57.89M | 57.69M | 57.51M | 57.48M | 44.83M | 44.80M |
| Working Capital | 150.41M | 145.68M | 134.96M | 120.37M | 63.30M | 75.99M |
| Book Value Per Share | 4.66 | 4.66 | 4.51 | 4.25 | 3.93 | 3.95 |
| Tangible Book Value | 145.28M | 142.66M | 127.29M | 104.07M | 29.01M | 23.23M |
| Tangible Book Value Per Share | 2.51 | 2.47 | 2.21 | 1.81 | 0.65 | 0.52 |
| Land | 41.29M | 37.32M | 36.04M | 35.09M | 34.54M | |
| Machinery | 60.57M | 54.74M | 49.50M | 45.71M | 42.84M | |
| Leasehold Improvements | 10.42M | 9.04M | 3.09M | 1.57M | 1.18M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 22.25M | 20.20M | 14.46M | 8.28M | -2.32M | -2.23M |
| Depreciation & Amortization | 15.30M | 14.92M | 13.81M | 12.71M | 12.15M | 5.61M |
| Loss (Gain) From Sale of Assets | -8.00K | 11.00K | -5.00K | |||
| Stock-Based Compensation | 2.10M | 845.00K | 874.00K | 1.31M | 1.15M | 529.00K |
| Other Operating Activities | 6.50M | 7.22M | 7.03M | 210.00K | 5.95M | 1.68M |
| Change in Accounts Receivable | -6.18M | -4.93M | -1.50M | 10.65M | 6.26M | -12.86M |
| Change in Inventory | -4.80M | -6.12M | 9.66M | -19.69M | -1.36M | -2.37M |
| Change in Accounts Payable | 1.17M | -6.87M | 1.23M | -8.88M | 7.05M | 7.92M |
| Change in Unearned Revenue | -16.00K | -171.00K | 23.00K | 113.00K | -20.00K | 1.81M |
| Change in Other Net Operating Assets | -564.00K | 415.00K | 2.01M | -385.00K | -288.00K | -8.91M |
| Operating Cash Flow | 35.76M | 25.49M | 47.59M | 4.32M | 28.59M | -8.82M |
| Capital Expenditures | -9.44M | -9.85M | -10.74M | -5.85M | -3.78M | -3.73M |
| Sale of Property, Plant & Equipment | 8.00K | 1.00K | 7.00K | |||
| Cash Acquisitions | -96.40M | |||||
| Investment in Securities | -40.66M | 39.08M | ||||
| Investing Cash Flow | -50.10M | -9.84M | -10.74M | -5.84M | -3.78M | -61.05M |
| Long-Term Debt Issued | 20.00M | |||||
| Long-Term Debt Repaid | -972.00K | -1.25M | -18.26M | -3.73M | -1.43M | |
| Lease Payments | -1.41M | -972.00K | -1.25M | -850.00K | -1.10M | -1.22M |
| Net Debt Issued (Repaid) | -1.41M | -972.00K | -1.25M | -18.26M | -3.73M | 18.57M |
| Issuance of Common Stock | 4.00K | 50.00K | 7.00K | 58.23M | 9.00K | 19.00K |
| Common Dividends Paid | -14.42M | -11.53M | ||||
| Other Financing Activities | -5.96M | -5.89M | -12.67M | -17.30M | -5.63M | |
| Financing Cash Flow | -21.79M | -18.34M | -13.91M | 22.68M | -9.34M | 18.59M |
| Foreign Exchange Rate Adjustments | -382.00K | -273.00K | -150.00K | 233.00K | 212.00K | -334.00K |
| Net Cash Flow | -36.51M | -2.97M | 22.79M | 21.38M | 15.67M | -51.61M |
| Free Cash Flow | 26.32M | 15.64M | 36.85M | -1.53M | 24.80M | -12.55M |
| Free Cash Flow Margin | 13.72% | 8.67% | 22.90% | -1.08% | 19.18% | -12.11% |
| Free Cash Flow Per Share | 0.45 | 0.27 | 0.64 | -0.03 | 0.55 | -0.28 |
| Levered Free Cash Flow | 15.51M | 7.59M | 24.02M | -17.95M | 38.47M | -13.10M |
| Unlevered Free Cash Flow | 16.16M | 8.13M | 24.43M | -17.14M | 39.04M | -13.10M |
| Free Cash Flow After Leases | 24.90M | 14.67M | 35.60M | -2.38M | 23.70M | -13.77M |
| Cash Interest Paid | 1.04M | 864.00K | 594.00K | 1.23M | 853.00K | 228.00K |
| Cash Income Tax Paid | 109.00K | 56.00K | 139.00K | 217.00K | 36.00K | 42.00K |
| Change in Working Capital | -10.39M | -17.68M | 11.41M | -18.20M | 11.65M | -14.41M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 422.62M | 408.91M | 349.00M | 355.43M | 174.91M | 295.91M |
| Enterprise Value | 367.29M | 346.05M | 286.90M | 305.91M | 165.47M | 197.00M |
| Last Close Price | 7.36 | 6.71 | 5.63 | 5.66 | 3.71 | 6.08 |
| PE Ratio | 20.37 | 20.25 | 24.13 | 42.91 | ||
| PS Ratio | 2.20 | 2.27 | 2.17 | 2.49 | 1.35 | 2.85 |
| PB Ratio | 1.57 | 1.52 | 1.34 | 1.46 | 0.99 | 1.67 |
| P/TBV Ratio | 2.91 | 2.87 | 2.74 | 3.42 | 6.03 | 12.74 |
| P/FCF Ratio | 16.06 | 26.14 | 9.47 | 7.05 | ||
| P/OCF Ratio | 11.82 | 16.04 | 7.33 | 82.37 | 6.12 | |
| EV/Sales Ratio | 1.91 | 1.92 | 1.78 | 2.15 | 1.28 | 1.90 |
| EV/EBITDA Ratio | 8.85 | 8.76 | 8.86 | 13.43 | 9.92 | 29.37 |
| EV/EBIT Ratio | 13.20 | 13.19 | 14.31 | 30.40 | 36.51 | 179.42 |
| EV/FCF Ratio | 13.96 | 22.12 | 7.79 | 6.67 | ||
| Debt / Equity Ratio | 0.04 | 0.04 | 0.04 | 0.04 | 0.12 | 0.14 |
| Debt / EBITDA Ratio | 0.27 | 0.28 | 0.33 | 0.39 | 1.23 | 3.63 |
| Debt / FCF Ratio | 0.45 | 0.74 | 0.30 | 0.83 | ||
| Net Debt / Equity Ratio | -0.22 | -0.24 | -0.26 | -0.19 | -0.08 | 0.03 |
| Net Debt / EBITDA Ratio | -1.41 | -1.62 | -2.08 | -2.06 | -0.82 | 0.86 |
| Net Debt / FCF Ratio | -2.22 | -4.08 | -1.83 | 30.50 | -0.55 | -0.46 |
| Asset Turnover | 0.51 | 0.48 | 0.44 | 0.42 | 0.40 | 0.39 |
| Inventory Turnover | 1.34 | 1.27 | 1.09 | 1.08 | 1.15 | 1.28 |
| Quick Ratio | 2.29 | 2.20 | 2.05 | 1.54 | 0.83 | 1.00 |
| Current Ratio | 4.06 | 4.07 | 3.73 | 3.43 | 1.84 | 2.41 |
| Return on Equity (ROE) | 8.40% | 7.64% | 5.75% | 3.94% | -1.31% | -1.26% |
| Return on Assets (ROA) | 4.63% | 4.37% | 3.45% | 1.86% | 0.88% | 0.26% |
| Return on Invested Capital (ROIC) | 11.35% | 11.37% | 10.30% | 5.50% | 2.63% | 0.85% |
| Return on Capital Employed (ROCE) | 8.30% | 7.90% | 6.20% | 3.30% | 1.80% | 0.40% |
| Earnings Yield | 4.91% | 4.94% | 4.14% | 2.33% | -1.33% | -0.75% |
| FCF Yield | 6.23% | 3.83% | 10.56% | -0.43% | 14.18% | -4.24% |
| Dividend Yield | 5.71% | 3.53% | ||||
| Payout Ratio | 116.38% | 57.10% | ||||
| Buyback Yield / Dilution | 1.60% | -0.91% | -7.72% | -19.66% | 0.10% | -0.70% |
| Total Shareholder Return | 7.31% | 2.61% | -7.72% | -19.66% | 0.10% | -0.70% |