KAMADA LTD financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KAMADA LTD files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	77.5	103	114	127	133	104	129	143	161	180
Cost of revenue	56.1	70.7	73	77.5	85.7	73.3	82.6	87	91	104
Gross profit	21.4	32.1	41.5	49.7	47.6	30.3	46.7	55.5	70	76.4
Research and development	16.2	12	9.75	13.1	13.6	11.4	13.2	13.9	15.2	13
Selling, general and administrative						0.27	1.81
Selling and marketing				4.37	4.52	6.28
General and administrative			8.53	9.19	10.1
Operating income	-5.48	7.44	19.3	22.8	19.2	-0.7	4.53	10.1	20.1	26.2
Interest expense	0.13	0.08	0.17	0.29	0.27	0.28	0.91	1.3	0.66	0.86
Interest income	0.47	0.5	0.83	1.15	1.03	0.3	0.09	0.59	2.12	1.92
Pre-tax income	-5.01	7.17	20.3	23	18.6	-1.89	-2.26	8.43	13.3	23.5
Income tax	1.72	0.27	-1.96	0.73	1.43	0.35	0.06	0.15	-1.13	3.27
Net income	-6.73	6.9	22.3	22.3	17.1	-2.23	-2.32	8.28	14.5	20.2
EBITDA	-3.04	9.95	22.1	25.8	22.5	0.37	5.56	11.3	21.5	27.9
EPS, basic	-0.18	0.18	0.55	0.55	0.39	-0.05	-0.05	0.17	0.25	0.35
EPS, diluted	-0.18	0.18	0.55	0.55	0.38	-0.05	-0.05	0.15	0.25	0.35

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	9.97	12.7	18.1	42.7	70.2	18.6	34.3	55.6	78.4	75.5
Short-term investments				31.2	39.1
Inventory	25.6	21.1	29.3	43.2	42	67.4	68.8	88.5	78.8	84.9
Total current assets	77.1	96.9	111	144	178	130	139	170	184	193
Property, plant and equipment	22.6	25.2	25	24.6	25.7	26.3	26.2	28.2	36.2	41.4
Lease right-of-use assets			4.16	4.02	3.44	3.09	2.57	7.76	9.62	8.9
Goodwill							147	30.3	30.3	30.3
Intangible assets					1.49	154
Total assets	99.7	122	138	174	211	319	322	355	372	379
Accounts payable	16.3	18	17.3	24.8	7.55	7.14	7.59	24.8	27.7	23.2
Short-term debt							4.44
Total current liabilities	27.2	29.4	23.6	32.7	0.22	54.1	75.7	49.6	49.4	47.4
Lease liabilities								7.44	9.43	9.44
Total liabilities	33	32.6	25.7	38.5	32	142	146	111	113	110
Total debt						3.79
Retained earnings	-111	-105	-83	-61.1	-43.9	-46.2	-48.5	-40.2	-25.7	-17.1
Total equity	66.7	89.5	112	135	179	177	176	244	259	269
Total liabilities and equity	99.7	122	138	174	211	319	322	355	372	379

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-6.73	6.9	22.3	22.3	17.1	-2.23	-2.32	8.28	14.5	20.2
Depreciation and amortization	2.44	2.5	2.86	2.99	3.25	1.07	1.02	1.24	1.49	1.64
Cash from operations	1.9	3.61	10.5	27.6	19.1	-8.82	28.6	4.32	47.6	25.5
Cash from investing	1.64	-15.6	-5.18	-0.56	-13.1	-61.1	-3.78	-5.84	-10.7	-9.84
Debt issued						20
Debt repaid						-0.21	-2.63	-17.4
Dividends paid										-11.5
Cash from financing	1.49	15.3	-0.59	-1.53	23.4	18.6	-9.34	22.7	-13.9	-18.3
Exchange rate effect	-0.1	-0.61	0.63	-0.91	-1.81	-0.33	0.21	0.23	-0.15	-0.27
Net change in cash	4.92	2.71	5.41	24.6	27.5	-51.6	15.7	21.4	22.8	-2.97
Interest paid	0.06	0.02	0.05	0.24	0.21	0.23	0.85	1.23	0.59	0.86

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $8.72 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	42.3%	Gross profit / revenue.
Operating margin	14.5%	Operating income / revenue.
EBITDA margin	15.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.0%	Pre-tax income / revenue.
Net margin	11.2%	Net income / revenue.
Operating cash flow margin	14.1%	Cash from operations / revenue.
Effective tax rate	13.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	5.4%	Net income / average total assets.
R&D / revenue	7.2%	Research and development expense / revenue.
D&A / revenue	0.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	30.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	79.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	6.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	29.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	71.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	39.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	3.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	40.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-1.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-46.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-3.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	1.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	12.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.07x	Current assets / current liabilities.
Quick ratio	1.59x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.59x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	29.0%	Total liabilities / total assets.
Interest coverage	30.4x	Operating income / interest expense.
Working capital	$145.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	8.0%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.48x	Revenue / average total assets.
Fixed asset turnover	4.65x	Revenue / average property, plant and equipment.
Inventory turnover	1.27x	Cost of revenue / average inventory.
Days inventory	287 days	365 x average inventory / cost of revenue.
Days payables	89 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.35	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.35	Net income per basic share, as reported (split-adjusted).
Payout ratio	57.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$503.0M	Share price x shares outstanding.
Enterprise value	$427.6M	Market cap + total debt - cash - short-term investments.
P/E	24.9x	Market cap / net income. Only when net income is positive.
P/S	2.79x	Market cap / revenue.
P/OCF	19.7x	Market cap / cash from operations, when positive.
EV/Sales	2.37x	Enterprise value / revenue.
EV/EBIT	16.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.3x	Enterprise value / EBITDA, when both are positive.
Earnings yield	4.0%	Net income / market cap (the inverse of P/E).
Dividend yield	2.3%	Dividends paid over the period / market cap.
Shareholder yield	2.3%	(Dividends paid + share buybacks) / market cap.

What was KAMADA LTD's revenue in fiscal 2025?

KAMADA LTD reported revenue of $180.5M for fiscal 2025, 12.1% higher than the year before.

Was KAMADA LTD profitable in fiscal 2025?

Yes. Net income was $20.2M, a net margin of 11.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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