Krystal Biotech Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Krystal Biotech Inc (KRYS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Krystal Biotech Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 440M vs 4,426M combined for tracked competitors (9.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+8.3% annualized vs trailing 12 months), vs decelerating (-27.4%) for its tracked peer group.
- Growth: Krystal Biotech Inc generated 24.1% revenue growth year over year in Q2 2026, vs 21.6% for its tracked competitors combined.
- Profitability: Its 45.9% net margin compares with -234.4% for the peer group.
- Scale: Krystal Biotech Inc ranks #14 of 165 companies by market capitalization in the Biotechnology & Pharmaceuticals industry, holding 1.2% of industry market cap.
- Peer revenue share: Krystal Biotech Inc accounted for 12.9% of combined revenue among its tracked peer group, up from 12.7% a year earlier.
- Peer differentiation: Revenue per employee of $1.49M compares with $0.38M for the peer group (3.9x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
KRYS Sales vs. its Competitors, Q2 2026
Krystal Biotech Inc reported revenue growth of 24.14 % year on year in Q2 2026, above its competitors' combined revenue growth of 21.58 %.
With a net margin of 45.94 %, Krystal Biotech Inc achieved higher profitability than its competitors (-234.36 %).
Krystal Biotech Inc generated 12.92 % of the combined sales of its peer group, up from 12.68 % a year earlier.
Krystal Biotech Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Krystal Biotech Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Krystal Biotech Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Krystal Biotech Inc's competitor groups requires a Commercial License.
For context: the Biotechnology & Pharmaceuticals industry grew revenue 20.7% year over year, combined, vs 24.1% for Krystal Biotech Inc. Krystal Biotech Inc's share of combined industry revenue moved from 0.26% to 0.27%, a gain of 0.01 percentage points.
Krystal Biotech Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Krystal Biotech Inc | Yes | Yes | Yes | No |
| Competitors combined (41) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 50.00 % (4 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
KRYS Stock Performance relative to its Competitors
KRYS Stock Performance relative to High-Confidence Competitors
KRYS Stock Performance relative to Similar-Size Competitors
KRYS Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Moderna Inc | 282.9% | Outperformed |
| 2 | Immunitybio inc | 282.9% | Outperformed |
| 3 | Relay Therapeutics Inc | 282.9% | Outperformed |
| 4 | Contextlogic Inc | 282.9% | Outperformed |
| 5 | Tourmaline Bio Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Krystal Biotech Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Krystal Biotech Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Krystal Biotech Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Krystal Biotech Inc | 10,194.07 | 440.48 |
| Moderna Inc | 81,798.95 | 2,228.00 |
| Apogee Therapeutics Inc | 10,190.15 | - |
| Immunitybio inc | 9,224.86 | 165.79 |
| Crispr Therapeutics Ag | 5,284.85 | 13.39 |
| Relay Therapeutics Inc | 3,577.25 | 0.70 |
| SUBTOTAL | 138,334.34 | 5,005.23 |
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Sources: Krystal Biotech Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Krystal Biotech Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Krystal Biotech Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Castle Creek Biosciences, Inc. | Named by the company | 85% |
| RHEACELL GmbH & Co. | Named by the company | 85% |
| Amryt Pharmaceuticals | Named by the company | 85% |
| Patagonia Pharma | Named by the company | 85% |
| Chiesi Farmaceutici S.p.A. | Named by the company | 85% |
| BridgeBio Pharma, Inc. | Named by the company | 85% |
| Phoenix Tissue Repair | Named by the company | 85% |
| Abeona | Named by the company | 85% |
| Novartis Inc. | Named by the company | 85% |
| Sonnet Biotherapeutics Holdings Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Krystal Biotech Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Krystal Biotech Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Immunitybio inc | Reportable 100.00 % |
| Novavax inc | Reportable 100.00 % |
| Immunocore Holdings Plc | Reportable 100.00 % |
| Ginkgo Bioworks Holdings Inc | Reportable 100.00 % |
| Prime Medicine Inc | Reportable 100.00 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Krystal Biotech Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Krystal Biotech Inc | 10,194 | 1,493,166 | 818,525 |
| Moderna Inc | 81,799 | 474,043 | -670,426 |
| Apogee Therapeutics Inc | 10,190 | - | -1,127,866 |
| Immunitybio inc | 9,225 | 239,931 | -1,436,207 |
| Crispr Therapeutics Ag | 5,285 | 66,627 | -2,244,473 |
| Relay Therapeutics Inc | 3,577 | 3,620 | -1,489,776 |
| PEERS TOTAL | 128,140 | 378,315 | -647,980 |
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Krystal Biotech Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Krystal Biotech Inc | United States 75.19 % |
| Immunitybio inc | United States 98.99 % |
| Novavax inc | United States 68.88 % |
| 4d Molecular Therapeutics Inc | JP 97.05 % |
| Caribou Biosciences Inc | United States 94.16 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Krystal Biotech Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 159 companies in Krystal Biotech Inc's industry classification, broader than the peer set above. Market cap in millions of $.Krystal Biotech Inc ranks #14 of 159 companies by market capitalization in its industry, holding 1.15 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,320, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Amgen Inc | 227,218 | 25.72 % |
| 2 | Gilead Sciences Inc | 188,277 | 21.31 % |
| 3 | Moderna Inc | 81,799 | 9.26 % |
| 4 | Argenx Se | 63,476 | 7.19 % |
| 5 | Revolution Medicines Inc | 1,234 | 5.2% |
| 6 | Biogen Inc | 1,234 | 5.2% |
| 7 | Biontech Se | 1,234 | 5.2% |
| 8 | Exelixis Inc | 1,234 | 5.2% |
| 9 | Neurocrine Biosciences Inc | 1,234 | 5.2% |
| 10 | Halozyme Therapeutics Inc | 1,234 | 5.2% |
| 14 | Krystal Biotech Inc | 10,194 | 1.15 % |
Market cap and industry share for the rest of Krystal Biotech Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-29.
Krystal Biotech Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 9 | Neurocrine Biosciences Inc | 14,421 | -2.54 % |
| 10 | Halozyme Therapeutics Inc | 13,728 | 53.56 % |
| 11 | Twist Bioscience Corporation | 11,455 | 582.13 % |
| 12 | Repligen Corp | 10,992 | 54.51 % |
| 13 | Kymera Therapeutics Inc | 1,234 | 12.3% |
| 14 | Krystal Biotech Inc | 10,194 | 98.14 % |
| 15 | Qiagen N v | 1,234 | 12.3% |
| 16 | Immunitybio inc | 1,234 | 12.3% |
| 17 | Vaxcyte Inc | 1,234 | 12.3% |
| 18 | Immunovant Inc | 1,234 | 12.3% |
| 19 | Scholar Rock Holding Corp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Krystal Biotech Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-29. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Krystal Biotech Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Biotechnology & Pharmaceuticals industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (93 companies). See the full Biotechnology & Pharmaceuticals industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 68.46 % (avg) | - |
| Operating Margin | 44.93 % | industry median | +249.9 pp |
| EBITDA Margin | 52.78 % | -0.94 % (avg) | +53.7 pp |
| Capital Intensity (Capex / Revenue) | 3.30 % | 6.74 % (avg) | -3.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Krystal Biotech Inc's Valuation vs Competitive Position
Valuation multiples vs the Biotechnology & Pharmaceuticals industry average (93 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Biotechnology & Pharmaceuticals industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 41.1x | 26.7x | +14.4x |
| EV / EBITDA | 39.9x | 21.3x | +18.6x |
| P/B | 8.1x | 5.1x | +3.0x |
| Return on Equity | 19.34 % | industry aggregate | 22.77 % |
| Return on Invested Capital | 7.89 % | -6.17 % (avg) | 14.06 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Krystal Biotech Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth | - | - | - | - | - | 33.94 % |
| Operating Margin | - | - | - | - | 22.61 % | 41.45 % |
| Return on Invested Capital | -6.10 % | -7.33 % | -13.28 % | -8.15 % | 3.77 % | 7.32 % |
| P/E | - | - | - | 2,641.8x | 56.7x | 34.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Krystal Biotech Inc's Strategic Group Map
Every company in Krystal Biotech Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Krystal Biotech Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Krystal Biotech Inc's BCG Growth-Share Matrix
Relative market share (vs Krystal Biotech Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Krystal Biotech Inc falls in the Question Mark quadrant: relative market share of 0.04x vs its largest competitor, in an industry growing revenue 10.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Krystal Biotech Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,320 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.30 % vs industry average 6.74 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Krystal Biotech Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Krystal Biotech Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Krystal Biotech Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Krystal Biotech Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Krystal Biotech Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 249.9 points above the industry median.
- Return on equity 22.8 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+8.3% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.04x).
Opportunities
- Industry revenue growing at a healthy 10.0% median pace.
- A meaningful share of tracked competitors (52.80 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-27.4% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Krystal Biotech Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Krystal Biotech Inc | 5.21 | 9.38 | - |
| Moderna Inc | 0.86 | 2.88 | 0.07 |
| Apogee Therapeutics Inc | 6.02 | 25.28 | - |
| Immunitybio inc | 1.63 | 5.83 | - |
| Crispr Therapeutics Ag | 2.51 | 16.26 | 0.16 |
| Relay Therapeutics Inc | 3.61 | 20.10 | - |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Krystal Biotech Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Krystal Biotech Inc | Q2 2026 | +24.1 % | +42.9 % |
| Moderna Inc | Q2 2026 | +2.1 % | - |
| Apogee Therapeutics Inc | Q2 2026 | - | - |
| Immunitybio inc | Q2 2026 | +93.9 % | - |
| Crispr Therapeutics Ag | Q2 2026 | +1,041.4 % | - |
| Relay Therapeutics Inc | Q2 2026 | -48.3 % | - |
| PEERS TOTAL | +23.1 % | - |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Krystal Biotech Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Krystal Biotech Inc | Q2 2026 | - | +87.2 % |
| Moderna Inc | Q2 2026 | -21.8 % | +1,133.3 % |
| Apogee Therapeutics Inc | Q2 2026 | - | -99.2 % |
| Immunitybio inc | Q2 2026 | +119.1 % | +227.4 % |
| Crispr Therapeutics Ag | Q2 2026 | - | +453.8 % |
| Relay Therapeutics Inc | Q2 2026 | - | - |
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Krystal Biotech Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Krystal Biotech Inc | 17.65% | 19.16% | 19.34% |
| Moderna Inc | - | - | - |
| Apogee Therapeutics Inc | - | - | - |
| Immunitybio inc | - | - | - |
| Crispr Therapeutics Ag | - | - | - |
| Relay Therapeutics Inc | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Krystal Biotech Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Krystal Biotech Inc | 41.57 | 23.14 |
| Moderna Inc | - | 36.71 |
| Apogee Therapeutics Inc | - | - |
| Immunitybio inc | - | 55.64 |
| Crispr Therapeutics Ag | - | 394.63 |
| Relay Therapeutics Inc | - | 5,147.12 |
| PEERS AVERAGE | - | 27.64 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.