Kamada (KMDA) AI Stock Analysis

• Market Cap: $1.56B
• Dividend Yield: N/A
• Average Volume (3M): 90.75K
• Price to Earnings (P/E): 21.4
• Beta (1Y): 0.84
• Revenue Growth: 5.22%
• EPS Growth: 23.27%
• Country: US
• Employees: 420
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 28.50
• Shares Outstanding: 57,681,590
• 10 Day Avg. Volume: 111,253
• 30 Day Avg. Volume: 90,747
• PEG Ratio: 0.31
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 2.07
• P/FCF Ratio: 9.03
• Enterprise Value/Market Cap: 0.28
• Enterprise Value/Revenue: 2.51
• Enterprise Value/Gross Profit: 5.73
• Enterprise Value/Ebitda: 11.77
• 1Y Price Target: $4,362.97
• Price Target Upside: 61.23% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: 3,023.00 ▲(11.71% Upside)

Kamada's overall stock score is driven by its strong financial performance and positive earnings call, which highlight robust revenue growth and strategic product launches. However, technical indicators suggest bearish momentum, and valuation metrics indicate moderate attractiveness. Challenges such as declining royalties and slow clinical trial enrollment also weigh on the score.

Positive Factors

Low leverage / strong balance sheet

Very low debt-to-equity gives Kamada long-term financial flexibility to fund R&D, commercial expansion and M&A without stressing interest-bearing liabilities. This capital structure supports durable investment in pipeline and capacity through business cycles.

Healthy margins and consistent revenue growth

Sustained revenue increases coupled with robust gross and improving net margins indicate durable operational efficiency and pricing power in plasma-derived products. Strong margins support reinvestment, buffer competitive pressures, and enhance free cash generation over time.

Plasma collection expansion with FDA approval

Owning and expanding plasma collection facilities secures raw material supply, reduces dependence on third parties and creates recurring, scaleable revenue streams. Vertical integration materially improves margin sustainability and supports long-term product supply resilience.

Negative Factors

Sharp decline in free cash flow growth

A near-42% drop in FCF growth weakens internal funding capacity for R&D, capacity build-out and M&A, increasing reliance on external financing. Persistently lower FCF growth can constrain strategic initiatives and reduce agility to pursue value-accretive investments.

Declining Glacia royalty income

A structural reduction in royalty rates creates a lasting revenue headwind that lowers predictable recurring income. This erosion of royalty cashflows reduces margin stability and heightens pressure on product sales or new business development to replace lost earnings.

Slow enrollment in Phase III AATD trial

Protracted patient enrollment delays pivotal trial readouts and potential approval timelines, deferring commercial launch and revenue. Extended development timelines raise costs, increase clinical risk, and can postpone the value realization from a core pipeline asset.

Kamada Business Overview & Revenue Model

Company Description

Kamada 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.

How the Company Makes Money

Kamada generates revenue primarily through the sale of its proprietary plasma-derived therapies, which are marketed and sold to hospitals, clinics, and healthcare providers. The company benefits from long-term supply agreements with global healthcare organizations, which provide a stable revenue stream. In addition to direct product sales, Kamada engages in strategic partnerships and collaborations with other pharmaceutical companies for research and development, which can lead to milestone payments and royalties. These partnerships enhance its product portfolio and expand market reach, contributing significantly to its overall earnings.

Kamada Financial Statement Overview

Summary

Kamada demonstrates strong financial health with consistent revenue growth and improving profitability. The balance sheet is stable with low leverage, and cash flows are managed efficiently despite recent declines in free cash flow growth. Overall, the company is well-positioned in its industry with a solid financial foundation.

Income Statement

Kamada has demonstrated strong revenue growth with a 3.11% increase in TTM, supported by improving profit margins. The gross profit margin is robust at 43.62%, and the net profit margin has improved to 11.21%. EBIT and EBITDA margins are also healthy, indicating efficient operations. The company has shown consistent revenue growth over the years, reflecting a positive trajectory.

Balance Sheet

The balance sheet is solid with a low debt-to-equity ratio of 0.044, indicating low leverage and financial stability. Return on equity is moderate at 7.41%, showing decent profitability. The equity ratio is strong, suggesting a well-capitalized structure. Overall, Kamada maintains a stable financial position with manageable debt levels.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 41.98% in TTM, which is a concern. However, the operating cash flow to net income ratio is healthy at 0.88, indicating good cash conversion. The free cash flow to net income ratio is also strong at 0.79, suggesting efficient cash management despite recent declines.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	174.79M	160.95M	142.52M	129.34M	103.64M	133.25M
Gross Profit	76.47M	69.97M	55.49M	46.70M	30.33M	47.55M
EBITDA	37.20M	27.80M	21.53M	16.69M	4.01M	23.73M
Net Income	20.44M	14.46M	8.28M	-2.32M	-2.23M	17.14M
Balance Sheet
Total Assets	377.21M	372.25M	354.91M	322.38M	318.67M	210.66M
Cash, Cash Equivalents and Short-Term Investments	72.00M	78.44M	55.64M	34.26M	18.59M	109.27M
Total Debt	11.47M	11.06M	8.82M	20.60M	24.35M	4.94M
Total Liabilities	111.98M	112.79M	110.89M	146.36M	141.84M	32.03M
Stockholders Equity	265.23M	259.46M	244.02M	176.02M	176.82M	178.64M
Cash Flow
Free Cash Flow	18.33M	36.85M	-1.53M	24.80M	-12.55M	13.62M
Operating Cash Flow	28.32M	47.59M	4.32M	28.59M	-8.82M	19.11M
Investing Cash Flow	-9.99M	-10.74M	-5.84M	-3.78M	-61.05M	-13.13M
Financing Cash Flow	-17.87M	-13.91M	22.68M	-9.34M	18.59M	23.36M

Kamada Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2706.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:KMDA, the sentiment is Positive. The current price of 2706 is above the 20-day moving average (MA) of 2501.15, above the 50-day MA of 2357.30, and above the 200-day MA of 2395.85, indicating a bullish trend. The MACD of 85.04 indicates Negative momentum. The RSI at 68.80 is Neutral, neither overbought nor oversold. The STOCH value of 76.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IL:KMDA.

Kamada Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BWAY	77 Outperform	₪1.53B	65.56	10.95%	―	21.13%	251.25%
KMDA	73 Outperform	$1.56B	21.39	7.86%	―	5.22%	23.27%
TEVA	61 Neutral	₪114.18B	23.94	―	―	-5.10%	―
NVLG	57 Neutral	₪640.13M	51.56	―	3.05%	22.79%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%